10-K Filing

BLUE BIOFUELS, INC. CIK: 1549145 FY 2021

Filing Information

Form Type	10-K
Accession Number	`0001493152-22-005446`
Period End Date	20211231
Filing Date	20220225
Fiscal Year	2021
Fiscal Period	FY
XBRL Instance	form10k_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 83 Income Statement 30 Cash Flow Statement 52 Stockholders Equity 27

Balance Sheet 83 line items

Line Item	Tag	Value	Unit	Period
Accumulated depreciation and amortization on property and equipment	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$273.85K	USD	Point-in-time
Accumulated depreciation and amortization on property and equipment	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$231.74K	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
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.16M	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	10.00M	shares	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
Prepaid expenses	`PrepaidExpenseCurrent`	$45.32K	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$45.05K	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`	$1.21M	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
Property and equipment, net of accumulated depreciation and amortization of $273,852 and $231,739 at December 31, 2021 and December 31,2020, respectively	`PropertyPlantAndEquipmentNet`	$247.43K	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	1.00B	shares	Point-in-time
Property and equipment, net of accumulated depreciation and amortization of $273,852 and $231,739 at December 31, 2021 and December 31,2020, respectively	`PropertyPlantAndEquipmentNet`	$377.64K	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	1.00B	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`	274.00M	shares	Point-in-time
Right of Use Assets, net of accumulated amortization	`OperatingLeaseRightOfUseAsset`	$144.88K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	241.72M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	274.00M	shares	Point-in-time
Right of Use Assets, net of accumulated amortization	`OperatingLeaseRightOfUseAsset`	$65.85K	USD	Point-in-time
Patents	`FiniteLivedPatentsGross`	$154.76K	USD	Point-in-time
Patents	`FiniteLivedPatentsGross`	$138.02K	USD	Point-in-time
TOTAL OTHER ASSETS	`AssetsNoncurrent`	$628.53K	USD	Point-in-time
TOTAL OTHER ASSETS	`AssetsNoncurrent`	$560.60K	USD	Point-in-time
TOTAL ASSETS	`Assets`	$1.84M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$892.50K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$11.06K	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`	$72.67K	USD	Point-in-time
Deferred wages and directors fees - Related party	`DueToEmployeesCurrent`	$240.79K	USD	Point-in-time
Deferred wages and directors fees - Related party	`DueToEmployeesCurrent`	$676.48K	USD	Point-in-time
Lease Liability - Current	`OperatingLeaseLiabilityCurrent`	$80.08K	USD	Point-in-time
Lease Liability - Current	`OperatingLeaseLiabilityCurrent`	$72.35K	USD	Point-in-time
Chapter 11 Settlement	`NotesPayableToBankCurrent`	$50.00K	USD	Point-in-time
Chapter 11 Settlement	`NotesPayableToBankCurrent`	-	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`	$49.29K	USD	Point-in-time
Interest Payable - Related Party	`InterestPayableCurrent`	$99.27K	USD	Point-in-time
TOTAL CURRENT LIABILITIES	`LiabilitiesCurrent`	$1.10M	USD	Point-in-time
TOTAL CURRENT LIABILITIES	`LiabilitiesCurrent`	$496.16K	USD	Point-in-time
Right of Use Lease Liability, net of current portion	`OperatingLeaseLiabilityNoncurrent`	$72.35K	USD	Point-in-time
Right of Use Lease Liability, net of current portion	`OperatingLeaseLiabilityNoncurrent`	-	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
Chapter 11 Settlement	`NotesPayableToBankNoncurrent`	$50.00K	USD	Point-in-time
Chapter 11 Settlement	`NotesPayableToBankNoncurrent`	-	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`	$2.74M	USD	Point-in-time
TOTAL LONG TERM LIABILITIES	`LiabilitiesNoncurrent`	$3.13M	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$3.23M	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; 1,000,000,000 shares authorized; 274,003,883 issued and outstanding at December 30, 2021, and 241,721,947 shares issued and outstanding at December 31, 2020.	`CommonStockValue`	$241.72K	USD	Point-in-time
Common stock; $0.001 par value; 1,000,000,000 shares authorized; 274,003,883 issued and outstanding at December 30, 2021, and 241,721,947 shares issued and outstanding at December 31, 2020.	`CommonStockValue`	$274.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$47.15M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$43.10M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-48.82M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-46.68M	USD	Point-in-time
Total stockholders equity (deficit)	`StockholdersEquity`	$-1.40M	USD	Point-in-time
Total stockholders equity (deficit)	`StockholdersEquity`	$-3.33M	USD	Point-in-time
Total stockholders equity (deficit)	`StockholdersEquity`	$-3.34M	USD	Point-in-time
TOTAL EQUITY (DEFICIT)	`StockholdersEquityDeficit`	$-1.40M	USD	Point-in-time
TOTAL EQUITY (DEFICIT)	`StockholdersEquityDeficit`	$-3.34M	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS DEFICIT	`LiabilitiesAndStockholdersEquity`	$1.84M	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`	-	USD	Annual
General and administrative	`GeneralAndAdministrativeExpense`	$1.23M	USD	Annual
General and administrative	`GeneralAndAdministrativeExpense`	$1.03M	USD	Annual
Research & Development	`ResearchAndDevelopmentExpense`	$1.10M	USD	Annual
Research & Development	`ResearchAndDevelopmentExpense`	$763.16K	USD	Annual
Loss on disposal of assets	`GainLossOnDispositionOfAssets1`	-	USD	Annual
Loss on disposal of assets	`GainLossOnDispositionOfAssets1`	$-33.48K	USD	Annual
Total operating expenses	`OperatingExpenses`	$1.99M	USD	Annual
Total operating expenses	`OperatingExpenses`	$2.17M	USD	Annual
Loss from operations:	`OperatingIncomeLoss`	$-1.99M	USD	Annual
Loss from operations:	`OperatingIncomeLoss`	$-2.17M	USD	Annual
Loan Forgiveness	`LoanForgiveness`	$66.33K	USD	Annual
Loan Forgiveness	`LoanForgiveness`	-	USD	Annual
Interest expense - related party	`InterestExpenseRelatedParty`	$177.88K	USD	Annual
Interest expense - related party	`InterestExpenseRelatedParty`	$27.08K	USD	Annual
Interest expense - other	`InterestExpenseOther`	$6.69K	USD	Annual
Interest expense - other	`InterestExpenseOther`	$12.32K	USD	Annual
Total other (income) expense	`NonoperatingIncomeExpense`	$-190.19K	USD	Annual
Total other (income) expense	`NonoperatingIncomeExpense`	$32.56K	USD	Annual
Income (Loss) before provisions for income taxes	`IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest`	$-2.14M	USD	Annual
Income (Loss) before provisions for income taxes	`IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest`	$-2.18M	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`	$-2.14M	USD	Annual
Net income (loss) per share	`EarningsPerShareBasic`	$-0.01	USD	Annual
Net income (loss) per share	`EarningsPerShareBasic`	$-0.01	USD	Annual
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	269.64M	shares	Annual
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	229.88M	shares	Annual

Cash Flow Statement 52 line items

Line Item	Tag	Value	Unit	Period
Net Income (Loss)	`NetIncomeLoss`	$-2.18M	USD	Annual
Net Income (Loss)	`NetIncomeLoss`	$-2.14M	USD	Annual
Depreciation and amortization	`DepreciationAndAmortization`	$40.12K	USD	Annual
Depreciation and amortization	`DepreciationAndAmortization`	$131.72K	USD	Annual
Stock based compensation for services	`AllocatedShareBasedCompensationExpense`	$120.15K	USD	Annual
Stock based compensation for services	`AllocatedShareBasedCompensationExpense`	$37.50K	USD	Annual
Net Issuance of options and warrants for services	`IssuanceOfStockAndWarrantsForServicesOrClaims`	$104.41K	USD	Annual
Net Issuance of options and warrants for services	`IssuanceOfStockAndWarrantsForServicesOrClaims`	$876.29K	USD	Annual
Loss on Disposal of assets	`GainLossOnDispositionOfAssets1`	-	USD	Annual
Loss on Disposal of assets	`GainLossOnDispositionOfAssets1`	$-33.48K	USD	Annual
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$-273.00	USD	Annual
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$-57.04K	USD	Annual
Accrued interest - related party	`IncreaseDecreaseInInterestPayableNet`	$99.27K	USD	Annual
Accrued interest - related party	`IncreaseDecreaseInInterestPayableNet`	$-49.98K	USD	Annual
Accounts payable and accrued liabilities	`IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities`	$-519.59K	USD	Annual
Accounts payable and accrued liabilities	`IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities`	$142.84K	USD	Annual
Forgiveness of PPP Loan	`IncreaseDecreaseInLoanForgiveness`	-	USD	Annual
Forgiveness of PPP Loan	`IncreaseDecreaseInLoanForgiveness`	$66.33K	USD	Annual
Right of use lease	`IncreaseDecreaseInRightOfUseLease`	$6.62K	USD	Annual
Right of use lease	`IncreaseDecreaseInRightOfUseLease`	$-80.08K	USD	Annual
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-2.47M	USD	Annual
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-921.45K	USD	Annual
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$216.39K	USD	Annual
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$147.19K	USD	Annual
Security deposits	`PaymentsForOtherDeposits`	-	USD	Annual
Security deposits	`PaymentsForOtherDeposits`	-	USD	Annual
Patent Costs	`PaymentsForPatentCosts`	$59.13K	USD	Annual
Patent Costs	`PaymentsForPatentCosts`	$16.74K	USD	Annual
Net cash from (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-206.31K	USD	Annual
Net cash from (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-233.13K	USD	Annual
Proceeds from PPP Loan	`ProceedsFromShortTermDebt`	$66.33K	USD	Annual
Proceeds from PPP Loan	`ProceedsFromShortTermDebt`	-	USD	Annual
Proceeds from exercise of warrants and options	`ProceedsFromWarrantExercises`	$1.32M	USD	Annual
Proceeds from exercise of warrants and options	`ProceedsFromWarrantExercises`	$350.00K	USD	Annual
Net proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$2.26M	USD	Annual
Net proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$887.38K	USD	Annual
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$3.58M	USD	Annual
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$1.30M	USD	Annual
Net increase (decrease) in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$175.95K	USD	Annual
Net increase (decrease) in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$878.09K	USD	Annual
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 beginning of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$1.16M	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
Cash and cash equivalent at end of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$1.16M	USD	Point-in-time
Interest	`InterestPaidNet`	-	USD	Annual
Interest	`InterestPaidNet`	-	USD	Annual
Taxes	`IncomeTaxesPaidNet`	-	USD	Annual
Taxes	`IncomeTaxesPaidNet`	-	USD	Annual
Conversion of convertible debenture to common stock	`DebtConversionConvertedInstrumentAmount1`	$279.00K	USD	Annual
Conversion of convertible debenture to common stock	`DebtConversionConvertedInstrumentAmount1`	$25.00K	USD	Annual

Stockholders Equity 27 line items

Line Item	Tag	Value	Unit	Period
Warrants issued for services	`WarrantsIssuedForService`	1.17M	shares	Annual
Vested options issued under employee director plan	`SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares`	11.00M	shares	Annual
Vested options issued under employee director plan	`SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares`	460,000.00	shares	Annual
Beginning balance, value	`StockholdersEquity`	$-1.40M	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$-3.33M	USD	Point-in-time
Beginning balance, value	`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`	$120.15K	USD	Annual
Issuance of common stock for services, shares	`StockIssuedDuringPeriodSharesIssuedForServices`	733,130.00	shares	Annual
Issuance of 1,166,667 warrants for services	`AdjustmentsToAdditionalPaidInCapitalWarrantIssued`	$72.09K	USD	Annual
Warrants exercised	`WarrantsExercised`	$1.30M	USD	Annual
Warrants exercised	`WarrantsExercised`	$350.00K	USD	Annual
Issuance of common stock and warrants for cash through PPM	`IssuanceOfCommonStockAndWarrantsForCashThroughPpm`	$887.38K	USD	Annual
Issuance of common stock and warrants for cash through PPM	`IssuanceOfCommonStockAndWarrantsForCashThroughPpm`	$2.26M	USD	Annual
Issuance of common stock in exchange for debt	`StockIssuedDuringPeriodValueConversionOfUnits`	$279.00K	USD	Annual
Issuance of common stock in exchange for debt	`StockIssuedDuringPeriodValueConversionOfUnits`	$25.00K	USD	Annual
Issuance of 11,000,000 vested options under the employee, director plan	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$876.29K	USD	Annual
Issuance of 11,000,000 vested options under the employee, director plan	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$32.32K	USD	Annual
Employee stock options exercised	`StockIssuedDuringPeriodValueStockOptionsExercised1`	$12.90K	USD	Annual
Cashless exercise of stock options	`StockIssuedDuringPeriodValueStockOptionsExercised`	-	USD	Annual
Cashless exercise of stock options	`StockIssuedDuringPeriodValueStockOptionsExercised`	-	USD	Annual
Cashless exercise of stock options, shares	`StockIssuedDuringPeriodSharesStockOptionsExercised`	350,000.00	shares	Annual
Net Income (Loss)	`NetIncomeLoss`	$-2.18M	USD	Annual
Net Income (Loss)	`NetIncomeLoss`	$-2.14M	USD	Annual
Ending balance, value	`StockholdersEquity`	$-1.40M	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$-3.33M	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$-3.34M	USD	Point-in-time

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