Blue Star Foods Corp

Blue Star Foods Corp. is an international sustainable marine protein company, which imports, packages and sells refrigerated pasteurized crab meat, and other premium seafood products. The company’s current source of revenue is importing blue and red swimming crab meat primarily from Indonesia, Philippines and China 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, and steelhead salmon produced under the brand name Little Cedar Farms for distribution in Canada. Blue Star Foods was founded by John Keeler on May 15, 1995 and is headquartered in Miami, FL.

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Blue Star Foods Corp. is an international seafood company, which processes, imports, packages, and sells refrigerated seafood products. It offers pasteurized crab meat and other seafood products under the Blue Star, Pacifika, Oceanica, Crab and Go Premium Seafood, Lubkin, First Choice, Good Stuff, and Coastal Pride Fresh brands. The company was founded by John Keeler on May 15, 1995 and is headquartered in Miami, FL.

Expected to Expand Footprint in Retail, Food Service and Hospitality Sectors Miami, FL, Nov. 15, 2024 (GLOBE NEWSWIRE) -- Blue Star Foods Corp., (“Blue Star,” the “Company,” “we,” “our” or “us”) (NASDAQ:  BSFC ), an integrated Environmental, Social, and Governance (ESG) sustainable seafood company including Recirculatory Aquaculture Systems (RAS), is proud to announce that they have signed a Vendor Agreement with LowTide, LLC. This collaboration marks an exciting milestone as Blue Star Foods Corp expands its portfolio with the development and nationwide distribution of two prominent brand lines: Wicked Tuna Seafood and Toby Keith's Premium.

Blue Star Foods Signs Vendor Agreement with LowTide LLC, under Wicked Tuna Seafood & Toby Keith's Premium brands

Balance Sheet Improvement by 50% Reduction in Liabilities Year-Over-Year  Miami, FL, Oct. 14, 2024 (GLOBE NEWSWIRE) -- Blue Star Foods Corp., (“Blue Star,” the “Company,” “we,” “our” or “us”) (NASDAQ: BSFC ), an integrated Environmental, Social, and Governance (ESG) sustainable seafood company with a focus on Recirculatory Aquaculture Systems (RAS), today announced that its Chairman and CEO John Keeler provided the following letter to shareholders. Blue Star Foods Corp remains committed to transparency and integrity.

Blue Star Foods Issues Shareholder Letter from CEO

Major Milestone to Meet Increasing Market Demand Miami, FL, Oct. 10, 2024 (GLOBE NEWSWIRE) -- Blue Star Foods Corp., (“Blue Star,” the “Company,” “we,” “our” or “us”) (NASDAQ: BSFC ), an integrated Environmental, Social, and Governance (ESG) sustainable seafood company with a focus on Recirculatory Aquaculture Systems (RAS), today announced that its Taste of BC Aquafarms executed a significant agreement with Miracle Springs to supply a substantial quantity of fingerlings. This partnership represents a major milestone, enabling Taste of BC to accelerate its harvest growth and meet increasing market demand.

Blue Star Foods' Taste of BC Aquafarms Signs Fingerling Supply Agreement with Miracle Springs, Poised for Accelerated Growth

Miami, FL, Aug. 20, 2024 (GLOBE NEWSWIRE) -- Blue Star Foods Corp., (“Blue Star,” the “Company,” “we,” “our” or “us”) (NASDAQ: BSFC ), an integrated Environmental, Social, and Governance (ESG) sustainable seafood company with a focus on Recirculatory Aquaculture Systems (RAS), has taken a significant step towards enhancing its financial position by reducing $645,668 in liabilities after its recently August 14th filling of its 10-Q from the quarter ended June 30, 2024. This move is part of Blue Star's comprehensive strategy to improve its financial health, which is focused on reducing debt and increasing its shareholder equity.

Blue Star Foods Strengthens Balance Sheet by Paying Off $645,668 of Debts

Miami, FL, Aug. 16, 2024 (GLOBE NEWSWIRE) -- Blue Star Foods Corp., (“Blue Star,” the “Company,” “we,” “our” or “us”) (NASDAQ: BSFC ), an integrated Environmental, Social, and Governance (ESG) sustainable seafood company with a focus on Recirculatory Aquaculture Systems (RAS), requested that the Securities and Exchange Commission ("SEC") consent to the withdrawal of our Registration Statement on Form S-1 (No. 333-281270) originally filed on August 6, 2024, as we no longer intend to pursue our public offering at this time. We believe this is in the best interests of our shareholders and investors.

Blue Star Foods Submits Request for Withdrawal of Registration Statement on Form S-1

Increase in Revenues Led to 24% Reduction in Operating Loss Quarterly Gross Margins Increased 1,170 Basis Points to 16.6% Miami, FL, Aug. 15, 2024 (GLOBE NEWSWIRE) -- Blue Star Foods Corp., (“Blue Star,” the “Company,” “we,” “our” or “us”) (NASDAQ: BSFC ), an integrated Environmental, Social, and Governance (“ESG”) sustainable seafood company with a focus on Recirculatory Aquaculture Systems (“RAS”), announced unaudited financial and operational results for the three and six months ended June 30, 2024. Key Financial Highlights for the Three Months Ended June 30, 2024 Revenue increased 7% to $1.8 million Gross profit increased 264% to $0.3 million Gross margin increased 1,170 basis points to 16.6% Operating loss decreased 36% to $0.7 million Inventory and RAS biomass of $2.6 million Total assets of $8.1 million Key Financial Highlights for the Six Months Ended June 30, 2024 Revenue increased 14% to $2.3 million Gross profit increased 27% to $0.5 million Gross margin increased 120 basis points to 11.5% Operating loss decreased 24% to $1.5 million Business Highlights for the Three Months Ended June 30, 2024 Signed Agreement with to provide high-quality, nutritious meals for U.S. Military Land-based aquaculture license renewal thru 2033 covering white sturgeon, coho salmon, chinook salmon and rainbow trout Business Highlights Subsequent to the Three Months Ended June 30, 2024 Initiated roll-out and expected to expand to numerous military bases over the next few months Launched plans to improve its soft-shell crab operations by introducing cutting-edge technology that combines Artificial Intelligence (AI) with Ultraviolet (UV) light technology to revolutionize the industry's standard molting crab identification process Management Commentary John Keeler, Chairman and CEO of Blue Star, commented, “Our first half 2024 results demonstrate the increase in business opportunities and revenue traction we are witnessing.

Blue Star Foods Reports 14% Revenue Growth to $4.0 Million, Highlighted by 27% Increase in Gross Profit for the First Half 2024

Blue Star Foods (NASDAQ: BSFC ) stock is rocketing higher on Thursday alongside heavy pre-market trading of the marine protein company's shares. This has more than 10 million shares of BSFC stock changing hands as of this writing.

Why Is Blue Star Foods (BSFC) Stock Up 74% Today?

Seeing Accelerated Revenue Growth from Current and New Opportunities Miami, FL, June 27, 2024 (GLOBE NEWSWIRE) -- Blue Star Foods Corp., (“Blue Star,” the “Company,” “we,” “our” or “us”) (NASDAQ: BSFC ), an integrated Environmental, Social, and Governance (ESG) sustainable seafood company with a focus on Recirculatory Aquaculture Systems (RAS), is pleased to announce that it is providing a 2024 forecast of at least 65% revenue growth with an annual run-rate of greater than $20 million. The Company has been successful in securing new business for growth opportunities for the future, such as an increased customer base at its Canadian facility for steelhead salmon.

Blue Star Foods Provides 2024 Revenue Guidance of At Least 65% Growth With Anticipated Annual Run-Rate Greater Than $20 Million

Miami, FL, June 12, 2024 (GLOBE NEWSWIRE) -- Blue Star Foods Corp., (“Blue Star,” the “Company,” “we,” “our” or “us”) (NASDAQ: BSFC ), an integrated Environmental, Social, and Governance (ESG) sustainable seafood company with a focus on Recirculatory Aquaculture Systems (RAS), today announced that on June 11, 2024 it received a letter from the Nasdaq Hearings Panel indicating that the Company demonstrated compliance with the bid price requirement in Listing Rule 5550(a)(2) and the minimum stockholders' equity requirement in Listing Rule 5550(b)(1).

Blue Star Foods Regains Compliance with Nasdaq

Increase in Revenues Leads to 44% Reduction in Losses Miami, FL, May 20, 2024 (GLOBE NEWSWIRE) -- Blue Star Foods Corp., (“Blue Star,” the “Company,” “we,” “our” or “us”) (NASDAQ: BSFC ), an integrated Environmental, Social, and Governance (“ESG”) sustainable seafood company with a focus on Recirculatory Aquaculture Systems (“RAS”), announced unaudited financial and operational results for the three months ended March 31, 2024. Key Financial Highlights for the Three Months Ended March 31, 2024 Revenue increased 19% to $2.3 million Net loss decreased 44% to $1.1 million Adjusted EBITDA loss decreased 35% to $0.6 million Inventory and RAS biomass of $2.3 million Business Highlights for the Three Months Ended March 31, 2024 Executed Transformational Master Service Agreement (MSA) with a the fully integrated seafood provider.

Blue Star Foods Reports 19% Growth to $2.3 Million Revenue for First Quarter Ended March 31, 2024

Miami, FL, May 15, 2024 (GLOBE NEWSWIRE) -- Blue Star Foods Corp., (“Blue Star,” the “Company,” “we,” “our” or “us”) (NASDAQ: BSFC ), an integrated Environmental, Social, and Governance (ESG) sustainable seafood company with a focus on Recirculatory Aquaculture Systems (RAS), today announced that it will effect a 1-for-50 reverse stock split ("Reverse Stock Split") of its authorized and issued and outstanding shares of Class A common stock, par value $0.0001 per share ("Common Stock"). The Reverse Stock Split will become effective at 12:01am, Eastern Time, on May 20, 2024. At such time, each 50 shares of issued and outstanding Common Stock will automatically be reclassified into one new share of Common Stock. The total number of shares of Common Stock authorized for issuance will remain at 100,000,000 shares. Proportional adjustments will be made to outstanding equity awards, warrants and convertible notes, and to the number of shares issued and issuable under the Company's stock incentive plans and certain existing agreements. No fractional shares will be issued in connection with the Reverse Stock Split. All fractional shares will be rounded up. The Reverse Stock Split will affect all common stockholders uniformly and will not alter any stockholder's percentage interest in the Company's equity.

Blue Star Foods Announces 1-for-50 Reverse Stock Split

Miami, FL, April 17, 2024 (GLOBE NEWSWIRE) -- Blue Star Foods Corp., (“Blue Star,” the “Company,” “we,” “our” or “us”) (NASDAQ: BSFC ), an integrated Environmental, Social, and Governance (ESG) sustainable seafood company with a focus on Recirculatory Aquaculture Systems (RAS), today announced it has secured additional funding to help meet increased demand under its previously announced Master Service Agreement as well as increase the volume in its soft shell crab operations.

Blue Star Foods Secures Additional Non-Dilutive Growth Capital to Support Expansion of Business Under Existing Master Service Agreement & Soft Shell Crab Operations

Initial Launch Expected to Roll Out to Numerous Military Bases Over the Next Few Months Miami, FL, April 10, 2024 (GLOBE NEWSWIRE) -- Blue Star Foods Corp., (“Blue Star,” the “Company,” “we,” “our” or “us”) (NASDAQ: BSFC ), a leader in value-added meal solutions and an integrated Environmental, Social, and Governance (ESG) sustainable seafood company with a focus on Recirculatory Aquaculture Systems (RAS), is profoundly honored to announce the successful execution of a supply agreement to provide manufacturing of Eagle Rising specified innovative food solutions for the U.S. Military under the support of our recently established Master Service Agreement (MSA). This pivotal agreement facilitates the provision of premium products distributed under the renowned Eagle Rising Brand, a Service-Disabled Veteran-Owned Small Business (SDVOSB), directly supporting the brave men and women serving in the United States military.

Blue Star Foods Signs Agreement with Eagle Rising to Provide High-Quality, Nutritious Meals for U.S. Military

Production and Distribution from its Facility in South Carolina Miami, FL, March 25, 2024 (GLOBE NEWSWIRE) -- Blue Star Foods Corp., (“Blue Star,” the “Company,” “we,” “our” or “us”) (NASDAQ: BSFC ), an integrated Environmental, Social, and Governance (ESG) sustainable seafood company with a focus on Recirculatory Aquaculture Systems (RAS), today announced that its soft-shell operations in South Carolina have started production for the 2024 season under its existing license from the South Carolina Department of Natural Resources. John Keeler, Chairman and CEO of Blue Star Foods, commented, “We are excited to begin production for the 2024 soft-shell crab season.

Blue Star Foods Starts its Soft-Shell Crab Season

Miami, FL, Feb. 21, 2024 (GLOBE NEWSWIRE) -- Blue Star Foods Corp., (“Blue Star,” the “Company,” “we,” “our” or “us”) (NASDAQ: BSFC ), an integrated Environmental, Social, and Governance (ESG) sustainable seafood company with a focus on Recirculatory Aquaculture Systems (RAS), is pleased to announce its signing of a Master Service Agreement with a vertically integrated seafood value added provider.

Blue Star Foods Executes Transformational Master Service Agreement to Generate an Expected $20 Million Additional Revenue in 2024

Significant Upgrade from Previous Rating Miami, FL, Dec. 08, 2023 (GLOBE NEWSWIRE) -- Blue Star Foods Corp., (“Blue Star,” the “Company,” “we,” “our” or “us”) (NASDAQ: BSFC ), an integrated Environmental, Social, and Governance (ESG) sustainable seafood company with a focus on Recirculatory Aquaculture Systems (RAS), is pleased to announce that it has been awarded a Green Rating in its latest EcoVadis scorecard. EcoVadis is the world's largest and most trusted provider of business sustainability ratings.

Blue Star Foods Attains Green Rating in Latest EcoVadis Scorecard

Evaluating Several Strategic Acquisitive and Organic Growth Opportunities Miami, FL, Nov. 27, 2023 (GLOBE NEWSWIRE) -- Blue Star Foods Corp., (“Blue Star,” the “Company,” “we,” “our” or “us”) (NASDAQ: BSFC ), an integrated Environmental, Social, and Governance (ESG) sustainable seafood company with a focus on Recirculatory Aquaculture Systems (RAS), is pleased to provide a Shareholder Update, from its Chairman and Chief Executive Officer John Keeler. To the Shareholders of Blue Star Foods Corp.: I write to you today with gratitude, pride and excitement.

Blue Star Foods Provides Shareholder Update

Blue Star Foods (NASDAQ: BSFC ) stock is climbing higher on Monday after the company revealed details for its upcoming annual shareholder meeting. The big news here is the company's meeting will be taking place on Dec. 27, 2023.

Why Is Blue Star Foods (BSFC) Stock Up 39% Today?

Miami, FL, Nov. 13, 2023 (GLOBE NEWSWIRE) -- Blue Star Foods Corp., (“Blue Star,” the “Company,” “we,” “our” or “us”) (NASDAQ: BSFC ), an integrated Environmental, Social, and Governance (ESG) sustainable seafood company with a focus on Recirculatory Aquaculture Systems (RAS), announced a recently signed a 2-year bid award purchase agreement with Sysco Corporation. The Bid Award Purchase Agreement is effective starting immediately, and is for purchase of Blue Star's award-winning brands, such as Blue Star, Pacifika and Good Stuff.

Blue Star Foods Signed 2-Year Bid Award Purchase Agreement with Sysco Corporation

Miami, FL, Sept. 18, 2023 (GLOBE NEWSWIRE) -- Blue Star Foods Corp ., (“ Blue Star , ” the “ Company,” “we,” “our” or “us”) ( N ASDAQ : BSFC ), an integrated Environmental, Social, and Governance (ESG) sustainable seafood company with a focus on Recirculatory Aquaculture Systems (RAS), is pleased to announce that it has allocated $2,573,142 from its [recently closed equity raise on september 7th ] to repay and terminate the largest of the three Convertible Notes outstanding to The Lind Partners to reduce total debt and improve the Company's balance as it positions itself for future growth initiatives.

Blue Star Foods Repays Convertible Note

Miami, FL, Sept. 11, 2023 (GLOBE NEWSWIRE) -- Blue Star Foods Corp., (“Blue Star,” the “Company,” “we,” “our” or “us”) (NASDAQ: BSFC), today announced the closing of its previously announced public offering of an aggregate of 10,741,139 shares of its common stock (or common stock equivalents), together with accompanying common stock warrants, at a public offering price of $0.4655 per share (or common stock equivalent) and accompanying warrants. Each share of common stock (or common stock equivalent) was offered in the offering together with a Series A-1 warrant to purchase one share of common stock at an exercise price of $0.4655 per share and a Series A-2 warrant to purchase one share of common stock at an exercise price of $0.4655 per share. The Series A-1 warrants will be exercisable beginning on the effective date of stockholder approval of the issuance of the shares issuable upon exercise of the warrants and will expire five years thereafter, and the Series A-2 warrants will be exercisable beginning on the effective date of stockholder approval of the issuance of the shares issuable upon exercise of the warrants and will expire eighteen months thereafter. Total gross proceeds from the offering, before deducting the placement agent's fees and other offering expenses, were approximately $5 million.

Blue Star Foods Announces Closing of $5 Million Public Offering

Miami, FL, Sept. 07, 2023 (GLOBE NEWSWIRE) -- Blue Star Foods Corp., (“Blue Star,” the “Company,” “we,” “our” or “us”) (NASDAQ: BSFC), today announced the pricing of its public offering of an aggregate of 10,741,139 shares of its common stock (or common stock equivalents), together with accompanying common stock warrants, at a public offering price of $0.4655 per share (or common stock equivalent) and accompanying warrants. Each share of common stock (or common stock equivalent) is being offered in the offering together with a Series A-1 warrant to purchase one share of common stock at an exercise price of $0.4655 per share and a Series A-2 warrant to purchase one share of common stock at an exercise price of $0.4655 per share. The Series A-1 warrants will be exercisable beginning on the effective date of stockholder approval of the issuance of the shares issuable upon exercise of the warrants and will expire five years thereafter, and the Series A-2 warrants will be exercisable beginning on the effective date of stockholder approval of the issuance of the shares issuable upon exercise of the warrants and will expire eighteen months thereafter. Total gross proceeds from the offering, before deducting the placement agent's fees and other offering expenses, are expected to be approximately $5 million.

Blue Star Foods Announces Pricing of $5 Million Public Offering

Extended Through June 2024 Miami, FL, Sept. 06, 2023 (GLOBE NEWSWIRE) -- Blue Star Foods Corp.

Blue Star Foods Awarded License Renewal for Soft-Shell Crab Operations in South Carolina

Reduction in Operating Expenses Led to Decrease in Operating Loss Miami, FL, Aug. 22, 2023 (GLOBE NEWSWIRE) -- Blue Star Foods Corp., (“Blue Star,” the “Company,” “we,” “our” or “us”) (NASDAQ: BSFC ), an integrated Environmental, Social, and Governance (“ESG”) sustainable seafood company with a focus on Recirculatory Aquaculture Systems (“RAS”), announced unaudited financial and operational results for the three and six months ended June 30, 2023. Key Financial Highlights for the Three Months Ended June 3 0 , 202 3 Revenue of $1.7 million RAS revenues increased to $0.5 million Gross profit of $0.1 million Operating loss of $1.1 million Net loss of $1.5 million (included $0.4 million of non-cash loss on settlement of stock, amortization of debt note and one-time non-recurring expenses) Adjusted EBITDA loss of $0.7 million Inventory and RAS biomass of $3.2 million at June 30, 2023 Key Financial Highlights for the Six Months Ended June 30, 2023 Revenue of $3.6 million RAS revenues increased to $1.1 million Gross profit of $0.4 million Operating loss of $2.0 million Net loss of $3.4 million (included $1.5 million of non-cash loss on settlement of stock, amortization of debt note and one-time non-recurring expenses) Adjusted EBITDA loss of $0.5 million Business Highlights for the Three Months Ended June 3 0 , 202 3 Regained compliance with NASDAQ minimum bid price requirement Granted option to purchase land for RAS expansion in South Carolina Strengthened balance sheet by paying off $5 million asset based line of credit to zero Entered into a supply agreement for $1 million annually with Bloomin' Brands Included in two most prominent sustainability reporting standards Ramped shipments to Just Food For Dogs under its supply agreement for up to $4 million annually Management Commentary John Keeler, Chairman and CEO of Blue Star, commented, “While our first half of 2023 revenue performance was not as high as expected, we have taken necessary steps to reduce our cash burn and improve the liabilities portion of our balance sheet.

Blue Star Foods Reports $3.5 Million Revenue for First Half 2023 Ended June 30, 2023

Miami, FL, July 13, 2023 (GLOBE NEWSWIRE) -- Blue Star Foods Corp ., (“ Blue Star , ” the “ Company,” “we,” “our” or “us”) ( N ASDAQ : BSFC ), an integrated Environmental, Social, and Governance (ESG) sustainable seafood company with a focus on Recirculatory Aquaculture Systems (RAS), today announced that it has received a formal notice from The Nasdaq Stock Market (“Nasdaq”) stating that Blue Star Foods has regained compliance with the $1.00 per share minimum bid price requirement pursuant to Nasdaq Listing Rule 5550(a)(2) (the “Minimum Bid Price Requirement”), and granted extension requested for the equity requirement in listing rule 5550 (b)(1) (the “Equity Rule”). The Company is in compliance with all other applicable listing standards.

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