10-Q Filing

BLUE BIOFUELS, INC. CIK: 1549145 Q1 2021

Filing Information

Form Type	10-Q
Accession Number	`0001493152-21-011638`
Period End Date	20210331
Filing Date	20210517
Fiscal Year	2021
Fiscal Period	Q1
XBRL Instance	allm-20210331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 80 Income Statement 28 Cash Flow Statement 50 Stockholders Equity 30

Balance Sheet 80 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`	$239.48K	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`	$2.44M	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
Prepaid expenses	`PrepaidExpenseCurrent`	$45.32K	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$78.42K	USD	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
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
TOTAL CURRENT ASSETS	`AssetsCurrent`	$331.90K	USD	Point-in-time
TOTAL CURRENT ASSETS	`AssetsCurrent`	$2.52M	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	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 $239,483 and $231,739 at March 31, 2021 and December 31,2020, respectively	`PropertyPlantAndEquipmentNet`	$247.43K	USD	Point-in-time
Property and equipment, net of accumulated depreciation and amortization of $239,483 and $231,739 at March 31, 2021 and December 31,2020, respectively	`PropertyPlantAndEquipmentNet`	$243.11K	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	500.00M	shares	Point-in-time
Security deposits	`SecurityDeposit`	$30.28K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	272.25M	shares	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 outstanding	`CommonStockSharesOutstanding`	241.72M	shares	Point-in-time
Right of Use Assets, net of accumulated amortization	`OperatingLeaseRightOfUseAsset`	$144.88K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	272.25M	shares	Point-in-time
Right of Use Assets, net of accumulated amortization	`OperatingLeaseRightOfUseAsset`	$125.12K	USD	Point-in-time
Patents	`FiniteLivedPatentsGross`	$138.02K	USD	Point-in-time
Patents	`FiniteLivedPatentsGross`	$142.85K	USD	Point-in-time
TOTAL OTHER ASSETS	`AssetsNoncurrent`	$560.60K	USD	Point-in-time
TOTAL OTHER ASSETS	`AssetsNoncurrent`	$541.36K	USD	Point-in-time
TOTAL ASSETS	`Assets`	$3.06M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$892.50K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$18.38K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$90.97K	USD	Point-in-time
Accounts payable - Related Party	`AccountsPayableRelatedPartiesCurrent`	$76.67K	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`	$227.29K	USD	Point-in-time
Lease Liability - Current	`OperatingLeaseLiabilityCurrent`	$80.08K	USD	Point-in-time
Lease Liability - Current	`OperatingLeaseLiabilityCurrent`	$81.94K	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`	$50.06K	USD	Point-in-time
TOTAL CURRENT LIABILITIES	`LiabilitiesCurrent`	$1.10M	USD	Point-in-time
TOTAL CURRENT LIABILITIES	`LiabilitiesCurrent`	$454.34K	USD	Point-in-time
Right of Use Lease Liability, net of current portion	`OperatingLeaseLiabilityNoncurrent`	$51.02K	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`	$66.33K	USD	Point-in-time
Paycheck Protection Program SBA loan	`PaycheckProtectionProgramSBALoan`	$66.33K	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	`ConvertibleDebtNoncurrent`	$204.00K	USD	Point-in-time
Convertible debenture, payable from future profits - Related Party	`ConvertibleDebtNoncurrent`	-	USD	Point-in-time
TOTAL LONG TERM LIABILITIES	`LiabilitiesNoncurrent`	$3.13M	USD	Point-in-time
TOTAL LONG TERM LIABILITIES	`LiabilitiesNoncurrent`	$2.91M	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$3.36M	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; 272,251,066 shares issued and outstanding at March 31, 2021, and 241,721,947 shares issued and outstanding at December 31, 2020.	`CommonStockValue`	$272.25K	USD	Point-in-time
Common stock; $0.001 par value; 500,000,000 shares authorized; 272,251,066 shares issued and outstanding at March 31, 2021, and 241,721,947 shares issued and outstanding at December 31, 2020.	`CommonStockValue`	$241.72K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$46.72M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$43.10M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-47.30M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-46.68M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$-3.33M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$-3.34M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$-299.65K	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$-3.41M	USD	Point-in-time
TOTAL EQUITY (DEFICIT)	`StockholdersEquityDeficit`	$-299.65K	USD	Point-in-time
TOTAL EQUITY (DEFICIT)	`StockholdersEquityDeficit`	$-3.34M	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT	`LiabilitiesAndStockholdersEquity`	$3.06M	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT	`LiabilitiesAndStockholdersEquity`	$892.50K	USD	Point-in-time

Income Statement 28 line items

Line Item	Tag	Value	Unit	Period
Revenues	`RevenueFromContractWithCustomerExcludingAssessedTax`	-	USD	1 Quarter
Revenues	`RevenueFromContractWithCustomerExcludingAssessedTax`	-	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$200.03K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$306.28K	USD	1 Quarter
Research & Development	`ResearchAndDevelopmentExpense`	$90.62K	USD	1 Quarter
Research & Development	`ResearchAndDevelopmentExpense`	$265.07K	USD	1 Quarter
Loss on disposal of assets	`GainLossOnDispositionOfAssets1`	$-33.48K	USD	1 Quarter
Loss on disposal of assets	`GainLossOnDispositionOfAssets1`	-	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$290.65K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$604.84K	USD	1 Quarter
Loss from operations:	`OperatingIncomeLoss`	$-290.65K	USD	1 Quarter
Loss from operations:	`OperatingIncomeLoss`	$-604.84K	USD	1 Quarter
Interest expense - related party	`InterestExpenseRelatedParty`	$6.85K	USD	1 Quarter
Interest expense - related party	`InterestExpenseRelatedParty`	$105.08K	USD	1 Quarter
Interest expense - other	`InterestExpenseOther`	$2.13K	USD	1 Quarter
Interest expense - other	`InterestExpenseOther`	$1.90K	USD	1 Quarter
Total other (income) expense	`NonoperatingIncomeExpense`	$-107.20K	USD	1 Quarter
Total other (income) expense	`NonoperatingIncomeExpense`	$-8.75K	USD	1 Quarter
Income (Loss) before provisions for income taxes	`IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest`	$-613.58K	USD	1 Quarter
Income (Loss) before provisions for income taxes	`IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest`	$-397.85K	USD	1 Quarter
Provisions for income taxes	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Provisions for income taxes	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Net Income / (Loss):	`NetIncomeLoss`	$-397.85K	USD	1 Quarter
Net Income / (Loss):	`NetIncomeLoss`	$-613.58K	USD	1 Quarter
Net income (loss) per share	`EarningsPerShareBasicAndDiluted`	$-0.00	USD	1 Quarter
Net income (loss) per share	`EarningsPerShareBasicAndDiluted`	$-0.00	USD	1 Quarter
Basic and Diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	260.66M	shares	1 Quarter
Basic and Diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	221.67M	shares	1 Quarter

Cash Flow Statement 50 line items

Line Item	Tag	Value	Unit	Period
Net Income (Loss)	`NetIncomeLoss`	$-397.85K	USD	1 Quarter
Net Income (Loss)	`NetIncomeLoss`	$-613.58K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$29.64K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$31.22K	USD	1 Quarter
Stock based compensation for services	`AllocatedShareBasedCompensationExpense`	$46.93K	USD	1 Quarter
Stock based compensation for services	`AllocatedShareBasedCompensationExpense`	$35.00K	USD	1 Quarter
Net Issuance of options and warrants for services	`IssuanceOfStockAndWarrantsForServicesOrClaims`	$6.43K	USD	1 Quarter
Net Issuance of options and warrants for services	`IssuanceOfStockAndWarrantsForServicesOrClaims`	$73.31K	USD	1 Quarter
Loss on Disposal of assets	`GainLossOnDispositionOfAssets1`	$-33.48K	USD	1 Quarter
Loss on Disposal of assets	`GainLossOnDispositionOfAssets1`	-	USD	1 Quarter
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$-44.62K	USD	1 Quarter
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$33.09K	USD	1 Quarter
Accrued interest - related party	`IncreaseDecreaseInInterestPayableNet`	$105.08K	USD	1 Quarter
Accrued interest - related party	`IncreaseDecreaseInInterestPayableNet`	$-49.30K	USD	1 Quarter
Accounts payable and accrued liabilities	`IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities`	$33.35K	USD	1 Quarter
Accounts payable and accrued liabilities	`IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities`	$-521.68K	USD	1 Quarter
Right of use lease	`IncreaseDecreaseInRightOfUseLease`	$-19.47K	USD	1 Quarter
Right of use lease	`IncreaseDecreaseInRightOfUseLease`	$-18.90K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-162.64K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-1.05M	USD	1 Quarter
Purchase of property and equipment	`PaymentsForProceedsFromProductiveAssets`	$40.62K	USD	1 Quarter
Purchase of property and equipment	`PaymentsForProceedsFromProductiveAssets`	$44.81K	USD	1 Quarter
Patent Costs	`PaymentsForPatentCosts`	$1.10K	USD	1 Quarter
Patent Costs	`PaymentsForPatentCosts`	$4.84K	USD	1 Quarter
Net cash from (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-45.46K	USD	1 Quarter
Net cash from (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-45.91K	USD	1 Quarter
Proceeds from exercise of warrants and options	`ProceedsFromExerciseOfWarrantsAndStockOptions`	-	USD	1 Quarter
Proceeds from exercise of warrants and options	`ProceedsFromExerciseOfWarrantsAndStockOptions`	$1.32M	USD	1 Quarter
Net proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$1.94M	USD	1 Quarter
Net proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$275.00K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$275.00K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$3.25M	USD	1 Quarter
Net increase (decrease) in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$2.15M	USD	1 Quarter
Net increase (decrease) in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$66.44K	USD	1 Quarter
Cash and cash equivalent at beginning of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$2.44M	USD	Point-in-time
Cash and cash equivalent at beginning of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$177.07K	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 beginning of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$110.63K	USD	Point-in-time
Cash and cash equivalent at end of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$2.44M	USD	Point-in-time
Cash and cash equivalent at end of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$177.07K	USD	Point-in-time
Cash and cash equivalent at end 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
Interest	`InterestPaidNet`	-	USD	1 Quarter
Interest	`InterestPaidNet`	-	USD	1 Quarter
Taxes	`IncomeTaxesPaidNet`	-	USD	1 Quarter
Taxes	`IncomeTaxesPaidNet`	-	USD	1 Quarter
Cashless conversion of warrants/options	`CashlessConversionOfWarrants`	-	USD	1 Quarter
Cashless conversion of warrants/options	`CashlessConversionOfWarrants`	-	USD	1 Quarter
Conversion of convertible debenture to common stock	`ConversionOfConvertibleDebentureToCommonStock`	-	USD	1 Quarter
Conversion of convertible debenture to common stock	`ConversionOfConvertibleDebentureToCommonStock`	$279.00K	USD	1 Quarter

Stockholders Equity 30 line items

Line Item	Tag	Value	Unit	Period
Warrants issued for service	`WarrantsIssuedForService`	1.17M	shares	1 Quarter
Vested options issued under the employee director plan	`SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares`	10,000.00	shares	1 Quarter
Vested options issued under the employee director plan	`SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares`	100,000.00	shares	1 Quarter
Balance	`StockholdersEquity`	$-3.33M	USD	Point-in-time
Balance	`StockholdersEquity`	$-3.34M	USD	Point-in-time
Balance	`StockholdersEquity`	$-299.65K	USD	Point-in-time
Balance	`StockholdersEquity`	$-3.41M	USD	Point-in-time
Issuance of common stock for services	`StockIssuedDuringPeriodValueIssuedForServices`	$35.00K	USD	1 Quarter
Issuance of common stock for services	`StockIssuedDuringPeriodValueIssuedForServices`	$46.93K	USD	1 Quarter
Issuance of common stock for services, shares	`StockIssuedDuringPeriodSharesIssuedForServices`	223,000.00	shares	1 Quarter
Issuance of common stock and warrants for cash through PPM	`IssuanceOfCommonStockAndWarrantsForCashThroughPpm`	$1.94M	USD	1 Quarter
Issuance of common stock and warrants for cash through PPM	`IssuanceOfCommonStockAndWarrantsForCashThroughPpm`	$275.00K	USD	1 Quarter
Issuance of common stock and warrants for cash through PPM, shares	`IssuanceOfCommonStockAndWarrantsForCashThroughPpmShares`	9.24M	shares	1 Quarter
Issuance of 10,000 for 2021 and 100,000 for 2020 vested options under the employee, director plan	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$1.22K	USD	1 Quarter
Issuance of 10,000 for 2021 and 100,000 for 2020 vested options under the employee, director plan	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$6.43K	USD	1 Quarter
Issuance of 1,166,667 warrants for services	`AdjustmentsToAdditionalPaidInCapitalWarrantIssued`	$72.09K	USD	1 Quarter
Warrants exercised	`WarrantsExercised`	$1.30M	USD	1 Quarter
Warrants exercised, shares	`WarrantsExercisedShare`	13.46M	shares	1 Quarter
Issuance of common stock in exchange for debt	`StockIssuedDuringPeriodValueConversionOfUnits`	$279.00K	USD	1 Quarter
Issuance of common stock in exchange for debt, shares	`StockIssuedDuringPeriodSharesConversionOfUnits`	7.08M	shares	1 Quarter
Employee stock options exercised	`StockIssuedDuringPeriodValueStockOptionsExercised1`	$12.90K	USD	1 Quarter
Employee stock options exercised, shares	`StockIssuedDuringPeriodSharesStockOptionsExercised1`	350,000.00	shares	1 Quarter
Cashless exercise of stock options	`StockIssuedDuringPeriodValueStockOptionsExercised`	-	USD	1 Quarter
Cashless exercise of stock options, shares	`StockIssuedDuringPeriodSharesStockOptionsExercised`	177,778.00	shares	1 Quarter
Net Income (Loss)	`NetIncomeLoss`	$-397.85K	USD	1 Quarter
Net Income (Loss)	`NetIncomeLoss`	$-613.58K	USD	1 Quarter
Balance	`StockholdersEquity`	$-3.33M	USD	Point-in-time
Balance	`StockholdersEquity`	$-3.34M	USD	Point-in-time
Balance	`StockholdersEquity`	$-299.65K	USD	Point-in-time
Balance	`StockholdersEquity`	$-3.41M	USD	Point-in-time

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