Every 10-Q that BLUE STAR FOODS CORP (BSFC) has filed with the SEC in the last 24 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-Q covers the quarterly report filed between annual reports, so if you follow BSFC and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full BSFC filings page.
Blue Star Foods Corp., an international seafood importer and processor, reported net revenue of $782,676 for the six months ended June 30, 2026, down from $2,133,098 a year earlier, driven by sharply lower sales volumes. Gross profit was $305,812 versus $344,334, while the net loss narrowed to $800,438 from $1,851,748.
Liquidity is strained: cash and cash equivalents were $11,119, total assets $1,288,041, and total liabilities $4,261,146, resulting in negative stockholders’ equity of $(2,973,105) and a working capital deficit of $3,136,801. Management states these conditions raise substantial doubt about the company’s ability to continue as a going concern.
The capital structure is highly leveraged and dilutive, with convertible notes at fair value of $1,922,579, additional debt and high-interest loans, and extensive use of share issuances to settle obligations. Common shares outstanding rose to 163,880,101 at June 30, 2026, and 171,880,101 by July 31, 2026, alongside 70,923,969 warrants at low exercise prices. A reverse stock split in a range of 1:100 to 1:10,000 has been approved but not yet effected. The company is also involved in legal proceedings over a terminated British Columbia facility lease and has filed a U.S. lawsuit against an Indonesian supplier seeking recovery of approximately $0.25 million; outcomes of these matters are uncertain.
Blue Star Foods Corp. reported Q1 2026 revenue of $250,259, down 74.0% from the prior-year quarter, generating gross profit of only $8,747. Net loss narrowed to $735,313 from $1,199,930 as interest expense declined, but operations remained unprofitable.
Balance sheet pressure is severe: cash was $16,948, total assets $1.34 million versus liabilities of $4.31 million, a working capital deficit of $3,134,850 and stockholders’ deficit of $2,968,411 as of March 31, 2026. The company states these factors raise substantial doubt about its ability to continue as a going concern.
Liquidity depended on high-cost debt and equity. Q1 activity included multiple convertible promissory notes and issuance of more than 68 million common shares to retire modest amounts of debt and interest, plus 1,550,000 super-voting preferred shares that concentrate voting control. The company also faces lease litigation in British Columbia and a U.S. civil claim against an Indonesian supplier, both with outcomes uncertain, and has an approved but not yet effective reverse stock split.
Blue Star Foods Corp. (BSFC) reported Q3 2025 results showing higher sales and a narrower loss. Revenue was $462,260, up from $259,779 a year ago, and net loss was $480,965 versus $3,047,559. Gross profit improved to $427,816 after a prior-year gross loss, while operating loss narrowed to $412,788 from $2,642,207.
For the nine months, revenue reached $2,595,358 (from $1,954,152) and net loss was $2,332,713 (from $6,360,767). Cash was $82,770 at September 30, 2025, with net cash used in operations of $372,077. Total assets were $1,274,283 against total liabilities of $2,974,056, resulting in a stockholders’ equity deficit of $(1,699,773).
The company recorded a year-to-date inventory allowance of $916,573, eliminated its derivative liability balance to $0 from $49,565, and disclosed a working capital deficit of $1,664,699. Management noted substantial doubt about the ability to continue as a going concern. Common shares outstanding were 20,517,325 as of September 30, 2025, and 41,804,278 as of November 12, 2025.