10-K Filing

BLUE BIOFUELS, INC. CIK: 1549145 FY 2020

Filing Information

Form Type	10-K
Accession Number	`0001493152-21-008113`
Period End Date	20201231
Filing Date	20210406
Fiscal Year	2020
Fiscal Period	FY
XBRL Instance	allm-20201231.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 83 Income Statement 30 Cash Flow Statement 58 Stockholders Equity 29

Balance Sheet 83 line items

Line Item	Tag	Value	Unit	Period
Accumulated depreciation and amortization on property and equipment	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$231.74K	USD	Point-in-time
Accumulated depreciation and amortization on property and equipment	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$191.62K	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$110.63K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$286.58K	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$102.36K	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$45.32K	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
TOTAL CURRENT ASSETS	`AssetsCurrent`	$331.90K	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
TOTAL CURRENT ASSETS	`AssetsCurrent`	$213.00K	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	500.00M	shares	Point-in-time
Property and equipment, net of accumulated depreciation and amortization of $231,739 and $191,615, at December 31,2020, and December 31, 2019, respectively	`PropertyPlantAndEquipmentNet`	$140.37K	USD	Point-in-time
Property and equipment, net of accumulated depreciation and amortization of $231,739 and $191,615, at December 31,2020, and December 31, 2019, respectively	`PropertyPlantAndEquipmentNet`	$247.43K	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	500.00M	shares	Point-in-time
Security deposits	`SecurityDeposit`	$30.28K	USD	Point-in-time
Security deposits	`SecurityDeposit`	$30.28K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	241.72M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	219.51M	shares	Point-in-time
Right of Use Assets, net of accumulated amortization	`OperatingLeaseRightOfUseAsset`	$144.88K	USD	Point-in-time
Right of Use Assets, net of accumulated amortization	`OperatingLeaseRightOfUseAsset`	$147.06K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	241.72M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	219.51M	shares	Point-in-time
Patents	`FiniteLivedPatentsGross`	$138.02K	USD	Point-in-time
Patents	`FiniteLivedPatentsGross`	$78.89K	USD	Point-in-time
TOTAL OTHER ASSETS	`AssetsNoncurrent`	$396.59K	USD	Point-in-time
TOTAL OTHER ASSETS	`AssetsNoncurrent`	$560.60K	USD	Point-in-time
TOTAL ASSETS	`Assets`	$892.50K	USD	Point-in-time
TOTAL ASSETS	`Assets`	$609.59K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$90.97K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$13.97K	USD	Point-in-time
Accounts payable - Related Party	`AccountsPayableRelatedPartiesCurrent`	$65.00K	USD	Point-in-time
Accounts payable - Related Party	`AccountsPayableRelatedPartiesCurrent`	$76.67K	USD	Point-in-time
Deferred wages and director's fees - Related party	`DueToEmployeesCurrent`	$676.48K	USD	Point-in-time
Deferred wages and director's fees - Related party	`DueToEmployeesCurrent`	$622.31K	USD	Point-in-time
Lease Liability - Current	`OperatingLeaseLiabilityCurrent`	$77.75K	USD	Point-in-time
Lease Liability - Current	`OperatingLeaseLiabilityCurrent`	$80.08K	USD	Point-in-time
Convertible Debentures - Related Party	`ConvertibleDebtCurrent`	-	USD	Point-in-time
Convertible Debentures - Related Party	`ConvertibleDebtCurrent`	$75.00K	USD	Point-in-time
Interest Payable - Related Party	`InterestPayableCurrent`	$99.27K	USD	Point-in-time
Interest Payable - Related Party	`InterestPayableCurrent`	-	USD	Point-in-time
TOTAL CURRENT LIABILITIES	`LiabilitiesCurrent`	$779.02K	USD	Point-in-time
TOTAL CURRENT LIABILITIES	`LiabilitiesCurrent`	$1.10M	USD	Point-in-time
Right of Use Lease Liability, net of current portion	`OperatingLeaseLiabilityNoncurrent`	$70.24K	USD	Point-in-time
Right of Use Lease Liability, net of current portion	`OperatingLeaseLiabilityNoncurrent`	$72.35K	USD	Point-in-time
Paycheck Protection Program SBA loan	`PaycheckProtectionProgramSBALoan`	-	USD	Point-in-time
Paycheck Protection Program SBA loan	`PaycheckProtectionProgramSBALoan`	$66.33K	USD	Point-in-time
Convertible Debentures - Related Party	`ConvertibleDebtNoncurrent`	-	USD	Point-in-time
Convertible Debentures - Related Party	`ConvertibleDebtNoncurrent`	$100.00K	USD	Point-in-time
Chapter 11 Settlement	`NotesPayableToBankNoncurrent`	$50.00K	USD	Point-in-time
Chapter 11 Settlement	`NotesPayableToBankNoncurrent`	$50.00K	USD	Point-in-time
Notes Payable - Related Party	`NotesPayableRelatedPartiesNoncurrent`	$2.52M	USD	Point-in-time
Notes Payable - Related Party	`NotesPayableRelatedPartiesNoncurrent`	$2.52M	USD	Point-in-time
Notes Payable - Other	`OtherLongTermNotesPayable`	$216.57K	USD	Point-in-time
Notes Payable - Other	`OtherLongTermNotesPayable`	$216.57K	USD	Point-in-time
Convertible debenture, payable from future profits - Related Party	`ConvertibleDebentureRelatedPartyNonCurrent`	$204.00K	USD	Point-in-time
Convertible debenture, payable from future profits - Related Party	`ConvertibleDebentureRelatedPartyNonCurrent`	$204.00K	USD	Point-in-time
TOTAL LONG TERM LIABILITIES	`LiabilitiesNoncurrent`	$3.16M	USD	Point-in-time
TOTAL LONG TERM LIABILITIES	`LiabilitiesNoncurrent`	$3.13M	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$3.94M	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$4.23M	USD	Point-in-time
Preferred stock; $0.001 par value; 10,000,000 shares authorized; zero shares issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock; $0.001 par value; 10,000,000 shares authorized; zero shares issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Common stock; $0.001 par value; 500,000,000 shares authorized; 241,721,947 shares issued and outstanding at December 31, 2020, and 219,513,233 shares issued and outstanding at December 31, 2019.	`CommonStockValue`	$219.51K	USD	Point-in-time
Common stock; $0.001 par value; 500,000,000 shares authorized; 241,721,947 shares issued and outstanding at December 31, 2020, and 219,513,233 shares issued and outstanding at December 31, 2019.	`CommonStockValue`	$241.72K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$43.10M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$40.95M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-44.50M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-6.68M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$-3.33M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$-6.19M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$-3.34M	USD	Point-in-time
TOTAL EQUITY (DEFICIT)	`StockholdersEquityDeficit`	$-3.33M	USD	Point-in-time
TOTAL EQUITY (DEFICIT)	`StockholdersEquityDeficit`	$-3.34M	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT	`LiabilitiesAndStockholdersEquity`	$609.59K	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT	`LiabilitiesAndStockholdersEquity`	$892.50K	USD	Point-in-time

Income Statement 30 line items

Line Item	Tag	Value	Unit	Period
Revenues	`RevenueFromContractWithCustomerExcludingAssessedTax`	-	USD	Annual
Revenues	`RevenueFromContractWithCustomerExcludingAssessedTax`	$60.00K	USD	Annual
General and administrative	`GeneralAndAdministrativeExpense`	$1.23M	USD	Annual
General and administrative	`GeneralAndAdministrativeExpense`	$1.04M	USD	Annual
Research & Development	`ResearchAndDevelopmentExpense`	$797.86K	USD	Annual
Research & Development	`ResearchAndDevelopmentExpense`	$763.16K	USD	Annual
Total operating expenses	`OperatingExpenses`	$1.99M	USD	Annual
Total operating expenses	`OperatingExpenses`	$1.84M	USD	Annual
Loss from operations:	`OperatingIncomeLoss`	$-1.78M	USD	Annual
Loss from operations:	`OperatingIncomeLoss`	$-1.99M	USD	Annual
Loss (Gain) on extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	$2.13M	USD	Annual
Loss (Gain) on extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	-	USD	Annual
Loss (Gain) in change of fair value of derivative liability	`EmbeddedDerivativeGainLossOnEmbeddedDerivativeNet`	-	USD	Annual
Loss (Gain) in change of fair value of derivative liability	`EmbeddedDerivativeGainLossOnEmbeddedDerivativeNet`	$656.53K	USD	Annual
Interest expense - related party	`InterestExpenseRelatedParty`	$177.88K	USD	Annual
Interest expense - related party	`InterestExpenseRelatedParty`	-	USD	Annual
Interest expense - other	`InterestExpenseOther`	-	USD	Annual
Interest expense - other	`InterestExpenseOther`	$12.32K	USD	Annual
Total other (income) expense	`NonoperatingIncomeExpense`	$-190.19K	USD	Annual
Total other (income) expense	`NonoperatingIncomeExpense`	$2.78M	USD	Annual
Income (Loss) before provisions for income taxes	`IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest`	$-2.18M	USD	Annual
Income (Loss) before provisions for income taxes	`IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest`	$1.01M	USD	Annual
Provisions for income taxes	`IncomeTaxExpenseBenefit`	-	USD	Annual
Provisions for income taxes	`IncomeTaxExpenseBenefit`	-	USD	Annual
Net Income / (Loss):	`NetIncomeLoss`	$-2.18M	USD	Annual
Net Income / (Loss):	`NetIncomeLoss`	$1.01M	USD	Annual
Net income (loss) per share	`EarningsPerShareBasic`	$-0.01	USD	Annual
Net income (loss) per share	`EarningsPerShareBasic`	$0.01	USD	Annual
Basic and Diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	229.88M	shares	Annual
Basic and Diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	166.07M	shares	Annual

Cash Flow Statement 58 line items

Line Item	Tag	Value	Unit	Period
Net Income (Loss)	`NetIncomeLoss`	$-2.18M	USD	Annual
Net Income (Loss)	`NetIncomeLoss`	$1.01M	USD	Annual
Depreciation and amortization	`DepreciationAndAmortization`	$31.38K	USD	Annual
Depreciation and amortization	`DepreciationAndAmortization`	$40.12K	USD	Annual
Extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	$2.13M	USD	Annual
Extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	-	USD	Annual
Change in fair value of embedded derivative	`EmbeddedDerivativeGainLossOnEmbeddedDerivativeNet`	-	USD	Annual
Change in fair value of embedded derivative	`EmbeddedDerivativeGainLossOnEmbeddedDerivativeNet`	$656.53K	USD	Annual
Stock based compensation for services	`AllocatedShareBasedCompensationExpense`	$37.50K	USD	Annual
Stock based compensation for services	`AllocatedShareBasedCompensationExpense`	$68.47K	USD	Annual
Net issuance of options & warrants	`IssuanceOfStockAndWarrantsForServicesOrClaims`	$876.29K	USD	Annual
Net issuance of options & warrants	`IssuanceOfStockAndWarrantsForServicesOrClaims`	$553.24K	USD	Annual
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$-57.04K	USD	Annual
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$100.53K	USD	Annual
Accrued interest - related party	`IncreaseDecreaseInInterestPayableNet`	-	USD	Annual
Accrued interest - related party	`IncreaseDecreaseInInterestPayableNet`	$99.27K	USD	Annual
Accounts payable and accrued liabilities	`IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities`	$83.82K	USD	Annual
Accounts payable and accrued liabilities	`IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities`	$142.84K	USD	Annual
Unearned Income	`IncreaseDecreaseInDeferredRevenue`	$-60.00K	USD	Annual
Unearned Income	`IncreaseDecreaseInDeferredRevenue`	-	USD	Annual
Right of use lease	`IncreaseDecreaseInRightOfUseLease`	$926.00	USD	Annual
Right of use lease	`IncreaseDecreaseInRightOfUseLease`	$6.62K	USD	Annual
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-921.45K	USD	Annual
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-1.20M	USD	Annual
Purchase of property and equipment	`PaymentsForProceedsFromProductiveAssets`	$17.28K	USD	Annual
Purchase of property and equipment	`PaymentsForProceedsFromProductiveAssets`	$147.19K	USD	Annual
Security deposits	`PaymentsForProceedsFromInvestments`	-	USD	Annual
Security deposits	`PaymentsForProceedsFromInvestments`	$22.38K	USD	Annual
Patent Costs	`PaymentsForPatentCosts`	$78.89K	USD	Annual
Patent Costs	`PaymentsForPatentCosts`	$59.13K	USD	Annual
Net cash from (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-118.55K	USD	Annual
Net cash from (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-206.31K	USD	Annual
Proceeds from long-term note payable - other	`ProceedsFromIssuanceOfOtherLongTermDebt`	-	USD	Annual
Proceeds from long-term note payable - other	`ProceedsFromIssuanceOfOtherLongTermDebt`	$66.33K	USD	Annual
Proceeds from convertible debt - related party	`ProceedsFromConvertibleDebt`	-	USD	Annual
Proceeds from convertible debt - related party	`ProceedsFromConvertibleDebt`	$100.00K	USD	Annual
Proceeds from exercise of warrants	`ProceedsFromWarrantExercises`	-	USD	Annual
Proceeds from exercise of warrants	`ProceedsFromWarrantExercises`	$350.00K	USD	Annual
Net proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$887.38K	USD	Annual
Net proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$1.22M	USD	Annual
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$1.30M	USD	Annual
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$1.32M	USD	Annual
Net increase (decrease) in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$5.90K	USD	Annual
Net increase (decrease) in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$175.95K	USD	Annual
Cash and cash equivalent at beginning of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$110.63K	USD	Point-in-time
Cash and cash equivalent at beginning of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$104.73K	USD	Point-in-time
Cash and cash equivalent at beginning of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$286.58K	USD	Point-in-time
Cash and cash equivalent at end of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$110.63K	USD	Point-in-time
Cash and cash equivalent at end of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$104.73K	USD	Point-in-time
Cash and cash equivalent at end of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$286.58K	USD	Point-in-time
Interest	`InterestPaidNet`	-	USD	Annual
Interest	`InterestPaidNet`	-	USD	Annual
Taxes	`IncomeTaxesPaidNet`	-	USD	Annual
Taxes	`IncomeTaxesPaidNet`	-	USD	Annual
Cashless conversion of warrants/options	`CashlessConversionOfWarrants`	-	USD	Annual
Cashless conversion of warrants/options	`CashlessConversionOfWarrants`	-	USD	Annual
Conversion of convertible debenture to common stock	`ConversionOfConvertibleDebentureToCommonStock`	-	USD	Annual
Conversion of convertible debenture to common stock	`ConversionOfConvertibleDebentureToCommonStock`	$25.00K	USD	Annual

Stockholders Equity 29 line items

Line Item	Tag	Value	Unit	Period
Warrants issued for service	`WarrantsIssuedForService`	2.42M	shares	Annual
Options issued under the employee director plan	`StockIssuedDuringPeriodSharesShareBasedCompensation`	8.90M	shares	Annual
Options issued under the employee director plan	`StockIssuedDuringPeriodSharesShareBasedCompensation`	11.00M	shares	Annual
Warrants issued for settlement of notes payable	`WarrantsIssuedForSettlementOfNotesPayable`	8.50M	shares	Annual
Balance	`StockholdersEquity`	$-3.33M	USD	Point-in-time
Balance	`StockholdersEquity`	$-6.19M	USD	Point-in-time
Balance	`StockholdersEquity`	$-3.34M	USD	Point-in-time
Issuance of common stock for services	`StockIssuedDuringPeriodValueIssuedForServices`	$37.50K	USD	Annual
Issuance of common stock for services	`StockIssuedDuringPeriodValueIssuedForServices`	$68.47K	USD	Annual
Issuance of common stock for services, shares	`StockIssuedDuringPeriodSharesIssuedForServices`	733,130.00	shares	Annual
Issuance of common stock for services, shares	`StockIssuedDuringPeriodSharesIssuedForServices`	1.94M	shares	Annual
Issuance of 2,425,000 warrants for services	`AdjustmentsToAdditionalPaidInCapitalWarrantIssued`	$120.08K	USD	Annual
Issuance of common stock for cash	`StockIssuedDuringPeriodValueNewIssues`	$887.38K	USD	Annual
Issuance of common stock for cash	`StockIssuedDuringPeriodValueNewIssues`	$289.00K	USD	Annual
Issuance of common stock for cash, shares	`StockIssuedDuringPeriodSharesNewIssues`	13.56M	shares	Annual
Issuance of common stock and warrants for cash through PPM	`IssuanceOfCommonStockAndWarrantsForCashThroughPpm`	$934.82K	USD	Annual
Issuance of common stock and warrants for cash through PPM	`IssuanceOfCommonStockAndWarrantsForCashThroughPpm`	$887.38K	USD	Annual
Issuance of common stock in exchange for debt	`StockIssuedDuringPeriodValueConversionOfUnits`	$25.00K	USD	Annual
Issuance of common stock in exchange for debt	`StockIssuedDuringPeriodValueConversionOfUnits`	$5.00K	USD	Annual
Issuance of options under the employee, director plan	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$220.30K	USD	Annual
Issuance of common stock as per Chapter 11 Plan Confirmation	`StockIssuedDuringPeriodValueSettlementOfNotesPayable`	$212.85K	USD	Annual
Warrants exercised	`WarrantsExercised`	$350.00K	USD	Annual
Cashless exercise of stock options	`StockIssuedDuringPeriodValueStockOptionsExercised`	-	USD	Annual
Issuance of 11,000,000 options under the employee, director plan	`AdjustmentsToAdditionalPaidInCapitalConvertibleDebtWithConversionFeature`	$876.29K	USD	Annual
Net Income (Loss)	`NetIncomeLoss`	$-2.18M	USD	Annual
Net Income (Loss)	`NetIncomeLoss`	$1.01M	USD	Annual
Balance	`StockholdersEquity`	$-3.33M	USD	Point-in-time
Balance	`StockholdersEquity`	$-6.19M	USD	Point-in-time
Balance	`StockholdersEquity`	$-3.34M	USD	Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.