BLUE STAR FOODS CORP 2025年季度报告

☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ________________ to ________________ BLUE STAR FOODS CORP. (Exact name of registrant as specified in its charter) (State or other jurisdiction ofincorporation or organization) 3000 NW 109th Avenue Miami,Florida33172(Address of principal executive offices) (305)836-6858 Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smallerreporting company or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company” and “emerging growth company” in Rule 12b-2 of the Exchange Act.Large accelerated filer☐Accelerated filer Item 3.Quantitative and Qualitative Disclosures About Market Risk Item 4.Controls and ProceduresPART II - OTHER INFORMATION Item 2.Unregistered Sales of Equity Securities and Use of ProceedsItem 3.Defaults Upon Senior SecuritiesItem 4.Mine Safety Disclosures Act”). Such forward-looking statements include, among others, those statements including the words “believes”, “anticipates”, materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.Forward-looking statements are based on our current expectations and assumptions regarding our business, potential target businesses,the economy and other future conditions. Because forward-looking statements relate to the future, by their nature, they are subject to ●Our ability to raise capital when needed and on acceptable terms and conditions; ●Our ability to make acquisitions and integrate acquired businesses into our company; ●Our ability to attract and retain management with experience in the business of importing, packaging and selling of seafood;●Our ability to negotiate, finalize and maintain economically feasible agreements with suppliers and customers; Net Loss$(1,199,930)$(1,279,451)Adjustments to reconcile net loss to net cash (used in) operating activities:Stock based compensation(5,627)Common stock issued for service33,000Depreciation of fixed assets6,386 Changes in operating assets and liabilities:Accounts receivables(97,469)Inventories123,313Advances to related parties-Other current assets176,682(446,138)Right of use liability(9,546) CASH FLOWS FROM INVESTING ACTIVITIES:Purchases of fixed assets(9,914)Net Cash (Used in) Investing Activities(9,914)CASH FLOWS FROM FINANCING ACTIVITIES:Proceeds from common stock offering19,950Proceeds from short-term loan550,000 NET INCREASE IN CASH AND CASH EQUIVALENTS(303,805)CASH AND CASH EQUIVALENTS – BEGINNING OF PERIOD326,854 Cash paid for interest$25,472$ Blue Star Foods Corp., a Delaware corporation (“we”, “our”, the “Company”), is an international sustainable marine protein companybased in Miami, Florida that imports, packages and sells refrigerated pasteurized crab meat, and other premium seafood products. The steelhead salmon and packaged seafood and other inventory businesses, respectively. The Company’s current source of revenue isimporting blue and red swimming crab meat primarily from South East Asia and distributing it in the United States and Canada under several brand names such as Blue Star, Oceanica, Pacifika, Crab & Go, First Choice, Good Stuff and Coastal Pride Fresh, andsteelhead salmon and rainbow trout fingerlings produced under the brand name Little Cedar Farms for distribution in On February 3, 2022, Coastal Pride entered into an asset purchase agreement with Gault Seafood, LLC, a South Carolina limitedliability company (“Gault Seafood”), and Robert J. Gault II, President of Gault Seafood (“Gault”) pursuant to which Coastal Prideacquired all of the Seller’s right, title and interest in and to assets relating to Gault Seafood’s soft-shell crab operations, includingintellectual property, equipment, vehicles and other assets used in connection with the soft-shell crab business. Coastal Pride did notassume any liabilities in connection with the acquisition. The purchase price for the assets consisted of a cash payment in the amount will earn all of the revenue and profits by the purchase and sale of Afritex’s inventory. Under the Services Agreement, Afritex may notsell or otherwise use as consideration any of its intellectual property without the Company’s consent. The Company must maintain certain commercial liability insurance during the term of the Services Agreement. The Services Agreement also provides that theCompany may not solicit Afritex employees for 24 months nor circumvent existing business relationships of Afritex for three years,after the term of the Services Agreement.The term of the Services Agreement will automatically extend for three thirty-day periods, ifAfritex’s outstanding debt is no greater than $325,000. The Company automatically extended the Service Agreement to August 31, In connection with the Services Agreement,