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Blue Star Foods Corp. reports developments for an OTCQB-listed sustainable seafood company focused on recirculating aquaculture systems, or RAS. The company processes, packages and sells high-value seafood products, uses traceability and ecological packaging, and owns a full grow-out RAS salmon farm in North America.
Recurring BSFC news covers quarterly operating results, revenue and loss trends, product launches such as crab meat pouches, distribution relationships, and expansion into Asian food and sushi categories. Company updates also include capital actions such as share repurchase authorization, trading-market status, and partnerships tied to retail, food service and hospitality distribution.
Blue Star Foods Corp. (OTC:BSFC) announced its participation in the LD Micro Invitational XI virtual event on June 9th at 3:30 PM ET. CEO John Keeler will present, aiming to enhance the company’s visibility and profile among investors. The event, scheduled from June 8th to June 10th, will showcase over 200 companies. Blue Star, dedicated to sustainable seafood, processes and sells premium crab meat and other products globally. This presentation provides an opportunity to share the company's strategies amidst the restaurant industry's recovery.
Blue Star Foods Corp. (OTC:BSFC) reported Q1-2021 results, revealing $2.5 million in revenue, down from $4.6 million in Q1-2020 due to supply chain disruptions and COVID-19 impacts. Operating expenses decreased by 26% to $748,000. The working line of credit was reduced by 85% to $780,000. Despite a net loss of $478,000, this is an improvement from a loss of $854,000 a year earlier. The company anticipates ongoing supply chain challenges but remains optimistic about a recovery in the second half of 2021.
Blue Star Foods Corp. (OTC:BSFC) announced a significant vendor agreement to supply its trademarked brands, Blue Star and Pacifika, to a national foodservice warehouse supplier. This 12-month agreement, starting September 2021, could generate up to $31 million in wholesale value. CEO John Keeler expressed optimism for the restaurant sector's rebound post-COVID-19, foreseeing a resurgence in demand. The company emphasizes its sustainable sourcing practices, aligning with consumer trends favoring eco-friendly products.
Blue Star Foods Corp. (OTC:BSFC) announced its application to list common shares on NASDAQ, aiming to enhance liquidity and visibility for shareholders. The approval is contingent on meeting NASDAQ's minimum requirements, with no guarantees of acceptance. Concurrently, Blue Star continues its acquisition of Taste of BC Aquafarms, solidifying its portfolio in sustainable seafood.
Currently, Blue Star's products are distributed globally, emphasizing sustainability and traceability in its operations. Further details about the Company can be found on its official website.
Blue Star Foods Corp. (OTC:BSFC) reported its financial results for Q4-2020 and FY-2020. Key highlights include a return to profitability with an Adjusted Cash Net Income of $247,569 in H2-2020, up from a loss of $1.4 million in H1-2020. Revenue decreased to $14.1 million in FY-2020 from $23.8 million in FY-2019, primarily due to COVID-19 impacts. The company reduced its working capital line of credit by 74% and paid down $1.6 million of debt, strengthening its balance sheet. Blue Star entered the Recirculatory Aquatic Systems industry through an acquisition of Taste Of BC Aquafarms.
Blue Star Foods Corp. (OTC:BSFC) announced the appointment of three new directors, effective April 12, 2021. Mr. Jeffrey Guzy, Mr. Tim McLellan, and Mr. Trond Ringstad bring extensive experience in public company governance and the seafood industry. Their addition strengthens the board, aiding Blue Star in its goal to meet key requirements for listing on a senior national exchange. The company focuses on sustainable seafood and aims to expand its market presence while pursuing acquisition opportunities in both traditional and emerging sectors.
Blue Star Foods Corp. announced a commitment to sustainability as a core component of its strategy. The company, one of the largest importers of pasteurized crab meat in the U.S., faces challenges such as climate change and over-harvesting. They plan to acquire Taste of BC Aquafarms, focusing on land-based Steelhead Salmon farming. After navigating a tough 2020, Blue Star aims to improve revenue and uplist to a senior U.S. exchange in 2021, bolstered by their first Sustainability Report detailing ESG performance.
Blue Star Foods Corp. (OTC:BSFC), a sustainable seafood company, has appointed Hayden IR, LLC for investor relations and financial communications. This collaboration aims to enhance Blue Star's visibility in the investment community as it prepares for a national exchange listing and finalizes the acquisition of Taste of BC Aquafarms, Inc. The company is positioned for growth, focusing on sustainable practices, targeting ESG investors, and plans to expand through strategic acquisitions.