10-Q Filing

BLUE BIOFUELS, INC. CIK: 1549145 Q1 2023

Filing Information

Form Type	10-Q
Accession Number	`0001493152-23-017065`
Period End Date	20230331
Filing Date	20230515
Fiscal Year	2023
Fiscal Period	Q1
XBRL Instance	form10-q_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 68 Income Statement 28 Cash Flow Statement 56 Stockholders Equity 22

Balance Sheet 68 line items

Line Item	Tag	Value	Unit	Period
Accumulated depreciation and amortization on property and equipment	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$127.18K	USD	Point-in-time
Accumulated depreciation and amortization on property and equipment	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$154.44K	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
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
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	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`	1.00B	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	1.00B	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	299.42M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	289.94M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	289.94M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	299.42M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$211.90K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$163.12K	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$43.12K	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$61.12K	USD	Point-in-time
TOTAL CURRENT ASSETS	`AssetsCurrent`	$224.24K	USD	Point-in-time
TOTAL CURRENT ASSETS	`AssetsCurrent`	$255.02K	USD	Point-in-time
Property and equipment, net of accumulated depreciation and amortization of $154,441 and $127,178 at March 31, 2023 and December 31,2022, respectively	`PropertyPlantAndEquipmentNet`	$420.12K	USD	Point-in-time
Property and equipment, net of accumulated depreciation and amortization of $154,441 and $127,178 at March 31, 2023 and December 31,2022, respectively	`PropertyPlantAndEquipmentNet`	$671.94K	USD	Point-in-time
Security deposits	`SecurityDeposit`	$30.28K	USD	Point-in-time
Security deposits	`SecurityDeposit`	$30.28K	USD	Point-in-time
Right of Use Assets, net of accumulated amortization	`OperatingLeaseRightOfUseAsset`	$178.40K	USD	Point-in-time
Right of Use Assets, net of accumulated amortization	`OperatingLeaseRightOfUseAsset`	$154.07K	USD	Point-in-time
Patents	`FiniteLivedPatentsGross`	$234.73K	USD	Point-in-time
Patents	`FiniteLivedPatentsGross`	$222.11K	USD	Point-in-time
TOTAL OTHER ASSETS	`AssetsNoncurrent`	$1.09M	USD	Point-in-time
TOTAL OTHER ASSETS	`AssetsNoncurrent`	$850.90K	USD	Point-in-time
TOTAL ASSETS	`Assets`	$1.11M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$1.32M	USD	Point-in-time
Lease Liability - Current	`OperatingLeaseLiabilityCurrent`	$97.38K	USD	Point-in-time
Lease Liability - Current	`OperatingLeaseLiabilityCurrent`	$95.17K	USD	Point-in-time
Chapter 11 Settlement	`NotesPayableToBankCurrent`	-	USD	Point-in-time
Chapter 11 Settlement	`NotesPayableToBankCurrent`	$50.00K	USD	Point-in-time
Interest Payable - Related Party	`InterestPayableCurrent`	$82.85K	USD	Point-in-time
Interest Payable - Related Party	`InterestPayableCurrent`	$76.14K	USD	Point-in-time
TOTAL CURRENT LIABILITIES	`LiabilitiesCurrent`	$638.72K	USD	Point-in-time
TOTAL CURRENT LIABILITIES	`LiabilitiesCurrent`	$867.20K	USD	Point-in-time
Right of Use Lease Liability, net of current portion	`OperatingLeaseLiabilityNoncurrent`	$60.64K	USD	Point-in-time
Right of Use Lease Liability, net of current portion	`OperatingLeaseLiabilityNoncurrent`	$85.98K	USD	Point-in-time
Notes Payable Other	`OtherLongTermNotesPayable`	$216.57K	USD	Point-in-time
Notes Payable Other	`OtherLongTermNotesPayable`	$216.57K	USD	Point-in-time
TOTAL LONG TERM LIABILITIES	`LiabilitiesNoncurrent`	$2.80M	USD	Point-in-time
TOTAL LONG TERM LIABILITIES	`LiabilitiesNoncurrent`	$2.82M	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$3.46M	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$3.67M	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; 299,416,769 issued and outstanding at March 31, 2023, and 289,941,623 shares issued and outstanding at December 31, 2022.	`CommonStockValue`	$299.42K	USD	Point-in-time
Common stock; $0.001 par value; 1,000,000,000 shares authorized; 299,416,769 issued and outstanding at March 31, 2023, and 289,941,623 shares issued and outstanding at December 31, 2022.	`CommonStockValue`	$289.94K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$51.20M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$50.13M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-53.85M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-52.78M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$-2.04M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$-2.36M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$-2.35M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$-1.40M	USD	Point-in-time
TOTAL EQUITY (DEFICIT)	`StockholdersEquityDeficit`	$-2.35M	USD	Point-in-time
TOTAL EQUITY (DEFICIT)	`StockholdersEquityDeficit`	$-2.36M	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS DEFICIT	`LiabilitiesAndStockholdersEquity`	$1.32M	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS DEFICIT	`LiabilitiesAndStockholdersEquity`	$1.11M	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`	$803.06K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$369.85K	USD	1 Quarter
Research & Development	`ResearchAndDevelopmentExpense`	$1.23M	USD	1 Quarter
Research & Development	`ResearchAndDevelopmentExpense`	$684.56K	USD	1 Quarter
Loss on disposal of assets	`GainLossOnDispositionOfAssets1`	-	USD	1 Quarter
Loss on disposal of assets	`GainLossOnDispositionOfAssets1`	$-369.00	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$2.03M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$1.05M	USD	1 Quarter
Loss from operations:	`OperatingIncomeLoss`	$-1.05M	USD	1 Quarter
Loss from operations:	`OperatingIncomeLoss`	$-2.03M	USD	1 Quarter
Interest expense - related party	`InterestExpenseDebt`	$6.71K	USD	1 Quarter
Interest expense - related party	`InterestExpenseDebt`	$6.71K	USD	1 Quarter
Interest expense - other	`InterestExpenseOther`	$1.03K	USD	1 Quarter
Interest expense - other	`InterestExpenseOther`	$2.60K	USD	1 Quarter
Total other (income) expense	`NonoperatingIncomeExpense`	$-7.74K	USD	1 Quarter
Total other (income) expense	`NonoperatingIncomeExpense`	$-9.31K	USD	1 Quarter
Income (Loss) before provisions for income taxes	`IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest`	$-2.04M	USD	1 Quarter
Income (Loss) before provisions for income taxes	`IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest`	$-1.06M	USD	1 Quarter
Provisions for income taxes	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Provisions for income taxes	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Net Income / (Loss):	`NetIncomeLoss`	$-2.04M	USD	1 Quarter
Net Income / (Loss):	`NetIncomeLoss`	$-1.06M	USD	1 Quarter
Net income (loss) per share	`EarningsPerShareBasic`	$-0.00	USD	1 Quarter
Net income (loss) per share	`EarningsPerShareBasic`	$-0.01	USD	1 Quarter
Basic and Diluted	`WeightedAverageNumberOfSharesOutstandingBasic`	295.03M	shares	1 Quarter
Basic and Diluted	`WeightedAverageNumberOfSharesOutstandingBasic`	274.26M	shares	1 Quarter

Cash Flow Statement 56 line items

Line Item	Tag	Value	Unit	Period
Net Income (Loss)	`NetIncomeLoss`	$-2.04M	USD	1 Quarter
Net Income (Loss)	`NetIncomeLoss`	$-1.06M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$29.84K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$17.29K	USD	1 Quarter
Stock based compensation for services	`AllocatedShareBasedCompensationExpense`	$24.00K	USD	1 Quarter
Stock based compensation for services	`AllocatedShareBasedCompensationExpense`	$71.30K	USD	1 Quarter
Net Issuance of options and warrants for services	`IssuanceOfStockAndWarrantsForServicesOrClaims`	$1.32M	USD	1 Quarter
Net Issuance of options and warrants for services	`IssuanceOfStockAndWarrantsForServicesOrClaims`	$391.30K	USD	1 Quarter
Loss on Disposal of assets	`GainLossOnDispositionOfAssets1`	-	USD	1 Quarter
Loss on Disposal of assets	`GainLossOnDispositionOfAssets1`	$-369.00	USD	1 Quarter
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$18.00K	USD	1 Quarter
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$37.84K	USD	1 Quarter
Accrued interest - related party	`IncreaseDecreaseInInterestPayableNet`	$6.71K	USD	1 Quarter
Accrued interest - related party	`IncreaseDecreaseInInterestPayableNet`	$6.71K	USD	1 Quarter
Accounts payable and accrued liabilities	`IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities`	$19.56K	USD	1 Quarter
Accounts payable and accrued liabilities	`IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities`	$138.74K	USD	1 Quarter
Right of use lease	`IncreaseDecreaseInRightOfUseLease`	$1.19K	USD	1 Quarter
Right of use lease	`IncreaseDecreaseInRightOfUseLease`	$-1.57K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-609.12K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-530.05K	USD	1 Quarter
Net Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$3.58K	USD	1 Quarter
Net Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$282.04K	USD	1 Quarter
Security deposits	`PaymentsForOtherDeposits`	-	USD	1 Quarter
Security deposits	`PaymentsForOtherDeposits`	-	USD	1 Quarter
Patent Costs	`PaymentsForPatentCosts`	$12.62K	USD	1 Quarter
Patent Costs	`PaymentsForPatentCosts`	$18.27K	USD	1 Quarter
Net cash from (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-21.86K	USD	1 Quarter
Net cash from (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-294.66K	USD	1 Quarter
Proceeds from exercise of warrants and options	`ProceedsFromWarrantExercises`	$7.50K	USD	1 Quarter
Proceeds from exercise of warrants and options	`ProceedsFromWarrantExercises`	$72.25K	USD	1 Quarter
Chapter 11 Settlement	`SettlementInFinancingActivities`	-	USD	1 Quarter
Chapter 11 Settlement	`SettlementInFinancingActivities`	$50.00K	USD	1 Quarter
Net Proceeds from the issuance of Convertible Notes	`ProceedsFromConvertibleDebt`	-	USD	1 Quarter
Net Proceeds from the issuance of Convertible Notes	`ProceedsFromConvertibleDebt`	$250.00K	USD	1 Quarter
Net proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$582.75K	USD	1 Quarter
Net proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	-	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$7.50K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$855.00K	USD	1 Quarter
Net increase (decrease) in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-544.40K	USD	1 Quarter
Net increase (decrease) in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-48.78K	USD	1 Quarter
Cash and cash equivalent at beginning of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$1.16M	USD	Point-in-time
Cash and cash equivalent at beginning of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$620.26K	USD	Point-in-time
Cash and cash equivalent at beginning of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$211.90K	USD	Point-in-time
Cash and cash equivalent at beginning of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$163.12K	USD	Point-in-time
Cash and cash equivalent at end of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$1.16M	USD	Point-in-time
Cash and cash equivalent at end of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$620.26K	USD	Point-in-time
Cash and cash equivalent at end of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$211.90K	USD	Point-in-time
Cash and cash equivalent at end of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$163.12K	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`	-	USD	1 Quarter

Stockholders Equity 22 line items

Line Item	Tag	Value	Unit	Period
Vesting of options previously issued under employee director plan	`SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares`	2.38M	shares	1 Quarter
Vesting of options previously issued under employee director plan	`SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares`	10.56M	shares	1 Quarter
Balance	`StockholdersEquity`	$-2.04M	USD	Point-in-time
Balance	`StockholdersEquity`	$-2.36M	USD	Point-in-time
Balance	`StockholdersEquity`	$-2.35M	USD	Point-in-time
Balance	`StockholdersEquity`	$-1.40M	USD	Point-in-time
Issuance of common stock for services	`StockIssuedDuringPeriodValueIssuedForServices`	$24.00K	USD	1 Quarter
Issuance of common stock for services	`StockIssuedDuringPeriodValueIssuedForServices`	$71.30K	USD	1 Quarter
Issuance of common stock for services, shares	`StockIssuedDuringPeriodSharesIssuedForServices`	140,000.00	shares	1 Quarter
Issuance of common stock and warrants for cash through PPM	`IssuanceOfCommonStockAndWarrantsForCashThroughPpm`	$582.75K	USD	1 Quarter
Issuance of common stock and warrants for cash through PPM, shares	`IssuanceOfCommonStockAndWarrantsForCashThroughPpmShares`	3.88M	shares	1 Quarter
Warrants exercised	`WarrantsExercised`	$72.25K	USD	1 Quarter
Warrants exercised, shares	`WarrantsExercisedShare`	5.45M	shares	1 Quarter
Vesting of 10,560,000 options under the employee, director plan	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$391.30K	USD	1 Quarter
Vesting of 10,560,000 options under the employee, director plan	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$1.32M	USD	1 Quarter
Net Income (Loss)	`NetIncomeLoss`	$-2.04M	USD	1 Quarter
Net Income (Loss)	`NetIncomeLoss`	$-1.06M	USD	1 Quarter
Employee stock options exercised	`StockIssuedDuringPeriodValueStockOptionsExercised1`	$7.50K	USD	1 Quarter
Balance	`StockholdersEquity`	$-2.04M	USD	Point-in-time
Balance	`StockholdersEquity`	$-2.36M	USD	Point-in-time
Balance	`StockholdersEquity`	$-2.35M	USD	Point-in-time
Balance	`StockholdersEquity`	$-1.40M	USD	Point-in-time

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