Blue Star Foods Reiterates its 2024 Forecast of At Least 65% Revenue Growth with an Annual Run-Rate of Greater Than $20 Million
September 06 2024 - 9:00AM
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 are no material changes in its business
and that it reiterates its previously issued 2024 forecast of at
least 65% revenue growth with an annual run-rate of greater than
$20 million.
This forecast is based on a current pipeline of
existing and additional business that remains strong, and is
supported by the following:
- Initiated roll-out gourmet meals made in USA for U.S.
Military.
- Currently harvesting weekly at the
land-based steelhead salmon farm.
- Increasing inventory levels in
anticipation of revenue acceleration.
- 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.
John Keeler, Chairman and CEO of Blue Star
Foods, commented, “For those investors that asked, “What is going
on and what is happening?” We are confident in our business and
know of no specific reason why our stock has underperformed, since
we withdrew our S-1 Registration Statement on August 16, 2024 and
subsequently strengthen our balance sheet by paying off $645,668 of
debts.”
About Blue Star Foods Corp.
(NASDAQ: BSFC)Blue Star
Foods Corp. an integrated Environmental, Social, and Governance
(ESG) sustainable seafood company with a focus on Recirculatory
Aquaculture Systems (RAS) that processes, packages and sells
high-value seafood products. The Company believes it utilizes
best-in-class technology, in both resource sustainability
management and traceability, and ecological packaging. The Company
also owns and operates the oldest continuously operating
Recirculating Aquaculture System (RAS) full grow-out salmon farm in
North America. The company is based in Miami, Florida, and its
corporate website is: https://bluestarfoods.com
Forward-Looking Statements:The
foregoing material may contain “forward-looking statements” within
the meaning of Section 27A of the Securities Act of 1933 and
Section 21E of the Securities Exchange Act of 1934, each as
amended. Forward-looking statements include all statements that do
not relate solely to historical or current facts, including without
limitation statements regarding the Company’s product development
and business prospects, and can be identified by the use of words
such as “may,” “will,” “expect,” “project,” “estimate,”
“anticipate,” “plan,” “believe,” “potential,” “should,” “continue”
or the negative versions of those words or other comparable words.
Forward-looking statements are not guarantees of future actions or
performance. These forward-looking statements are based on
information currently available to the Company and its current
plans or expectations and are subject to a number of risks and
uncertainties that could significantly affect current plans. Risks
concerning the Company’s business are described in detail in the
Company’s Annual Report on Form 10-K for the year ended December
31, 2023, and other periodic and current reports filed with the
Securities and Exchange Commission. The Company is under no
obligation to, and expressly disclaims any such obligation to,
update or alter its forward-looking statements, whether as a result
of new information, future events or otherwise.
Investor
Contacts:investors@bluestarfoods.com
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