secwatch.observer — SEC 8-K summary
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Issuer:     Blue Star Foods Corp. (BSFC)
CIK:        0001730773
Form:       8-K
Filed at:   2023-05-23T23:59:59+00:00
Accession:  0001493152-23-018715
Event type: earnings
Sentiment:  negative
Materiality: 0.85
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Blue Star Foods Q1 revenue drops 64% to $1.9M, net loss $2.0M; Nasdaq delisting notice
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- Revenue fell 64% YoY to $1.9M; gross margin improved to 15% vs 9.2%.
- Net loss widened 85% to $2.0M; adjusted EBITDA loss $0.9M.
- Raised $1.8M via Aegis; post-quarter $150k at $0.20 with institutional fund, potential $10M.
- Received Nasdaq bid-price delisting notice; hearing requested, reverse split authorized.
- Non-binding term sheet with Lind Global for $1.2M convertible note and warrant.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1730773/000149315223018715/0001493152-23-018715-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1730773/000149315223018715/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-23-018715

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