Form 8-K - Current report
December 01 2023 - 4:15PM
Edgar (US Regulatory)
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2023-11-27
2023-11-27
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UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
8-K
CURRENT
REPORT
Pursuant
to Section 13 or 15(d) of The Securities Exchange Act of 1934
Date
of Report (Date of earliest event reported): November 27, 2023
BLUE
STAR FOODS CORP.
(Exact
name of registrant as specified in its charter)
Delaware |
|
001-40991 |
|
82-4270040 |
(State
or other jurisdiction
of
incorporation) |
|
(Commission
File
Number) |
|
(IRS
Employer
Identification
No.) |
3000
NW 109th Avenue
Miami,
Florida 33172
(Address
of principal executive offices)
Registrant’s
telephone number, including area code: (305) 836-6858
Check
the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the Company under any
of the following provisions:
☐ |
Written
communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
|
|
☐ |
Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
|
|
☐ |
Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
|
|
☐ |
Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities
registered pursuant to Section 12(b) of the Act:
Title
of each class |
|
Trading
Symbols |
|
Name
of each exchange on which registered |
Common
Stock, $0.0001 |
|
BSFC |
|
Nasdaq
Capital Market |
Indicate
by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1934 (§240.12b-2
of this chapter).
Emerging
growth company ☒
If
an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying
with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.
Item
3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing
On
November 27, 2023, Blue Star Foods Corp. (the “Company”) received a notice letter (the “Notice”) from the Listing
Qualifications Department of The Nasdaq Stock Market LLC (“Nasdaq”) notifying the Company that, based
on the Company’s stockholders’ equity of $482,294 as reported in the Company’s Quarterly Report on Form 10-Q for the
quarter ended September 30, 2023 as filed with the Securities and Exchange Commission, the Company is no longer in compliance with the
minimum stockholders’ equity requirement for continued inclusion on the Nasdaq Capital Market under Nasdaq Listing Rule 5550(b)(1)
(the “Stockholders’ Equity Requirement”), which matter serves as a basis for delisting the Company’s securities
from Nasdaq.
As
previously reported on a Current Report on Form 8-K filed on October 17, 2023, the Company is subject to a Mandatory Panel Monitor for
a period of one year, or until October 16, 2024. As such, the Company is not eligible for a compliance period. The Company has the opportunity
to request a new hearing with the Hearings Panel (the “Panel”), by 4:00 p.m. Eastern Time on December 4, 2023, which it intends
to do, as the Company believes that its current shareholders equity figure meets Nasdaq continued listing standards following the recent
conversion of certain non-cash liabilities to equity The hearing request will stay the suspension of the Company’s securities and
the filing of the Form 25-NSE pending the Panel’s decision. The fee for the Hearing is $20,000.
Pursuant
to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by
the undersigned hereunto duly authorized.
|
BLUE
STAR FOODS CORP. |
|
|
|
Date:
December 1, 2023 |
By:
|
/s/
John Keeler |
|
|
John
Keeler Executive Chairman and Chief Executive Officer |
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