10-K Filing

BLUE BIOFUELS, INC. CIK: 1549145 FY 2023

Filing Information

Form Type	10-K
Accession Number	`0001493152-24-011318`
Period End Date	20231231
Filing Date	20240326
Fiscal Year	2023
Fiscal Period	FY
XBRL Instance	form10-k_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 66 Income Statement 30 Cash Flow Statement 58 Stockholders Equity 31

Balance Sheet 66 line items

Line Item	Tag	Value	Unit	Period
Property and equipment, accumulated depreciation and amortization	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$127.18K	USD	Point-in-time
Property and equipment, accumulated depreciation and amortization	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$243.09K	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`	302.75M	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`	302.75M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$41.01K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$211.90K	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$35.75K	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$43.12K	USD	Point-in-time
TOTAL CURRENT ASSETS	`AssetsCurrent`	$255.02K	USD	Point-in-time
TOTAL CURRENT ASSETS	`AssetsCurrent`	$76.76K	USD	Point-in-time
Property and equipment, net of accumulated depreciation and amortization of $243,089 and $127,178 at December 31, 2023 and December 31,2022, respectively	`PropertyPlantAndEquipmentNet`	$420.12K	USD	Point-in-time
Property and equipment, net of accumulated depreciation and amortization of $243,089 and $127,178 at December 31, 2023 and December 31,2022, respectively	`PropertyPlantAndEquipmentNet`	$587.31K	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`	$81.09K	USD	Point-in-time
Right of Use Assets, net of accumulated amortization	`OperatingLeaseRightOfUseAsset`	$178.40K	USD	Point-in-time
Patents	`FiniteLivedPatentsGross`	$254.79K	USD	Point-in-time
Patents	`FiniteLivedPatentsGross`	$222.11K	USD	Point-in-time
TOTAL OTHER ASSETS	`AssetsNoncurrent`	$850.90K	USD	Point-in-time
TOTAL OTHER ASSETS	`AssetsNoncurrent`	$953.46K	USD	Point-in-time
TOTAL ASSETS	`Assets`	$1.11M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$1.03M	USD	Point-in-time
Right of Use Lease Liability - Current	`OperatingAndFinanceLeaseLiabilityCurrent`	$95.17K	USD	Point-in-time
Right of Use Lease Liability - Current	`OperatingAndFinanceLeaseLiabilityCurrent`	$85.98K	USD	Point-in-time
Chapter 11 Settlement	`NotesPayableToBankCurrent`	$50.00K	USD	Point-in-time
Chapter 11 Settlement	`NotesPayableToBankCurrent`	-	USD	Point-in-time
Interest Payable - Related Party	`InterestPayableCurrent`	$143.41K	USD	Point-in-time
Interest Payable - Related Party	`InterestPayableCurrent`	$76.14K	USD	Point-in-time
TOTAL CURRENT LIABILITIES	`LiabilitiesCurrent`	$1.50M	USD	Point-in-time
TOTAL CURRENT LIABILITIES	`LiabilitiesCurrent`	$638.72K	USD	Point-in-time
Right of Use Lease Liability, net of current portion	`OperatingAndFinanceLeaseLiabilityNoncurrent`	-	USD	Point-in-time
Right of Use Lease Liability, net of current portion	`OperatingAndFinanceLeaseLiabilityNoncurrent`	$85.98K	USD	Point-in-time
Notes Payable Related Party	`LongTermNotesPayable`	$20.00K	USD	Point-in-time
Notes Payable Other	`OtherLongTermNotesPayable`	$216.57K	USD	Point-in-time
Notes Payable Other	`OtherLongTermNotesPayable`	$266.57K	USD	Point-in-time
TOTAL LONG TERM LIABILITIES	`LiabilitiesNoncurrent`	$3.09M	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`	$4.59M	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; 302,750,963 issued and outstanding at December 31, 2023, and 289,941,623 issued and outstanding at December 31, 2022.	`CommonStockValue`	$289.94K	USD	Point-in-time
Common stock; $0.001 par value; 1,000,000,000 shares authorized; 302,750,963 issued and outstanding at December 31, 2023, and 289,941,623 issued and outstanding at December 31, 2022.	`CommonStockValue`	$302.75K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$51.97M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$50.13M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-52.78M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-55.84M	USD	Point-in-time
TOTAL STOCKHOLDERS EQUITY (DEFICIT)	`StockholdersEquity`	$-1.40M	USD	Point-in-time
TOTAL STOCKHOLDERS EQUITY (DEFICIT)	`StockholdersEquity`	$-2.36M	USD	Point-in-time
TOTAL STOCKHOLDERS EQUITY (DEFICIT)	`StockholdersEquity`	$-3.56M	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS DEFICIT	`LiabilitiesAndStockholdersEquity`	$1.03M	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS DEFICIT	`LiabilitiesAndStockholdersEquity`	$1.11M	USD	Point-in-time

Income Statement 30 line items

Line Item	Tag	Value	Unit	Period
Revenue	`RevenueFromContractWithCustomerExcludingAssessedTax`	-	USD	Annual
Revenue	`RevenueFromContractWithCustomerExcludingAssessedTax`	-	USD	Annual
General and administrative	`GeneralAndAdministrativeExpense`	$1.34M	USD	Annual
General and administrative	`GeneralAndAdministrativeExpense`	$1.54M	USD	Annual
Research & Development	`ResearchAndDevelopmentExpense`	$1.85M	USD	Annual
Research & Development	`ResearchAndDevelopmentExpense`	$2.35M	USD	Annual
Loss on disposal of assets	`GainLossOnDispositionOfAssets1`	$-40.10K	USD	Annual
Loss on disposal of assets	`GainLossOnDispositionOfAssets1`	$-1.16K	USD	Annual
Total operating expenses	`OperatingExpenses`	$3.19M	USD	Annual
Total operating expenses	`OperatingExpenses`	$3.93M	USD	Annual
Loss from operations:	`OperatingIncomeLoss`	$-3.93M	USD	Annual
Loss from operations:	`OperatingIncomeLoss`	$-3.19M	USD	Annual
Government Grants	`IncomeFromGovernmentGrants`	-	USD	Annual
Government Grants	`IncomeFromGovernmentGrants`	$233.50K	USD	Annual
Common Stock Recission	`RecissionOfStock`	-	USD	Annual
Common Stock Recission	`RecissionOfStock`	$1.50K	USD	Annual
Interest expense - other	`InterestExpenseOther`	$8.42K	USD	Annual
Interest expense - other	`InterestExpenseOther`	$2.56K	USD	Annual
Total other (income) expense	`NonoperatingIncomeExpense`	$-27.91K	USD	Annual
Total other (income) expense	`NonoperatingIncomeExpense`	$135.72K	USD	Annual
Income (Loss) before provisions for income taxes	`IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest`	$-3.96M	USD	Annual
Income (Loss) before provisions for income taxes	`IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest`	$-3.06M	USD	Annual
Provisions for income taxes	`IncomeTaxExpenseBenefit`	-	USD	Annual
Provisions for income taxes	`IncomeTaxExpenseBenefit`	-	USD	Annual
Net Income / (Loss):	`NetIncomeLoss`	$-3.96M	USD	Annual
Net Income / (Loss):	`NetIncomeLoss`	$-3.06M	USD	Annual
Net income (loss) per share	`EarningsPerShareBasic`	$-0.01	USD	Annual
Net income (loss) per share	`EarningsPerShareBasic`	$-0.01	USD	Annual
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	299.95M	shares	Annual
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	278.83M	shares	Annual

Cash Flow Statement 58 line items

Line Item	Tag	Value	Unit	Period
Net Income (Loss)	`NetIncomeLoss`	$-3.96M	USD	Annual
Net Income (Loss)	`NetIncomeLoss`	$-3.06M	USD	Annual
Depreciation and amortization	`DepreciationAndAmortization`	$216.78K	USD	Annual
Depreciation and amortization	`DepreciationAndAmortization`	$138.46K	USD	Annual
Stock based compensation for services	`AllocatedShareBasedCompensationExpense`	$29.30K	USD	Annual
Stock based compensation for services	`AllocatedShareBasedCompensationExpense`	$136.55K	USD	Annual
Recission of stock	`RecissionOfStock`	-	USD	Annual
Recission of stock	`RecissionOfStock`	$1.50K	USD	Annual
Net Issuance of options and warrants for services	`IssuanceOfStockAndWarrantsForServicesOrClaims`	$1.58M	USD	Annual
Net Issuance of options and warrants for services	`IssuanceOfStockAndWarrantsForServicesOrClaims`	$721.71K	USD	Annual
Loss on Disposal of assets	`GainLossOnDispositionOfAssets1`	$-40.10K	USD	Annual
Loss on Disposal of assets	`GainLossOnDispositionOfAssets1`	$-1.16K	USD	Annual
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$-1.93K	USD	Annual
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$-7.37K	USD	Annual
Accrued interest - related party	`IncreaseDecreaseInInterestPayableNet`	$67.27K	USD	Annual
Accrued interest - related party	`IncreaseDecreaseInInterestPayableNet`	$26.85K	USD	Annual
Accounts payable and accrued liabilities	`IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities`	$506.37K	USD	Annual
Accounts payable and accrued liabilities	`IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities`	$92.89K	USD	Annual
Right of use lease	`IncreaseDecreaseInOperatingAndFinanceLeaseLiability`	$-86.60K	USD	Annual
Right of use lease	`IncreaseDecreaseInOperatingAndFinanceLeaseLiability`	$-95.17K	USD	Annual
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-1.60M	USD	Annual
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-2.04M	USD	Annual
Net purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$138.17K	USD	Annual
Net purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$287.83K	USD	Annual
Patent Costs	`PaymentsToAcquireIntangibleAssets`	$32.68K	USD	Annual
Patent Costs	`PaymentsToAcquireIntangibleAssets`	$67.35K	USD	Annual
Net cash from (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-320.50K	USD	Annual
Net cash from (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-205.52K	USD	Annual
Net proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$1.00M	USD	Annual
Net proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$1.17M	USD	Annual
Net proceeds from issuance of convertible notes	`ProceedsFromConvertibleDebt`	$700.00K	USD	Annual
Net proceeds from issuance of convertible notes	`ProceedsFromConvertibleDebt`	-	USD	Annual
Proceeds from exercise of warrants and options	`ProceedsFromExerciseOfWarrantsAndOptions`	$97.25K	USD	Annual
Proceeds from exercise of warrants and options	`ProceedsFromExerciseOfWarrantsAndOptions`	$120.90K	USD	Annual
Payment of debt	`RepaymentsOfDebt`	$50.00K	USD	Annual
Payment of debt	`RepaymentsOfDebt`	-	USD	Annual
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$1.29M	USD	Annual
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$1.75M	USD	Annual
Net increase (decrease) in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-170.89K	USD	Annual
Net increase (decrease) in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-952.76K	USD	Annual
Cash and cash equivalent at beginning of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$211.90K	USD	Point-in-time
Cash and cash equivalent at beginning of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$1.16M	USD	Point-in-time
Cash and cash equivalent at beginning of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$41.01K	USD	Point-in-time
Cash and cash equivalent at end of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$211.90K	USD	Point-in-time
Cash and cash equivalent at end of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$1.16M	USD	Point-in-time
Cash and cash equivalent at end of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$41.01K	USD	Point-in-time
Interest	`InterestPaidNet`	-	USD	Annual
Interest	`InterestPaidNet`	-	USD	Annual
Taxes	`IncomeTaxesPaidNet`	-	USD	Annual
Taxes	`IncomeTaxesPaidNet`	-	USD	Annual
Issuance of warrants for services	`IssuanceOfWarrantsForServices`	$9.77K	USD	Annual
Issuance of warrants for services	`IssuanceOfWarrantsForServices`	$84.68K	USD	Annual
Issuance of common stock for services	`IssuanceOfCommonStockForServices`	$29.30K	USD	Annual
Issuance of common stock for services	`IssuanceOfCommonStockForServices`	$136.55K	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`	-	USD	Annual

Stockholders Equity 31 line items

Line Item	Tag	Value	Unit	Period
Warrants issued for services	`WarrantsIssuedForService`	794,000.00	shares	Annual
Warrants issued for services	`WarrantsIssuedForService`	77,333.00	shares	Annual
Vesting of options previously issued under employee director plan	`SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares`	4.38M	shares	Annual
Vesting of options previously issued under employee director plan	`SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares`	12.56M	shares	Annual
Balance	`StockholdersEquity`	$-1.40M	USD	Point-in-time
Balance	`StockholdersEquity`	$-2.36M	USD	Point-in-time
Balance	`StockholdersEquity`	$-3.56M	USD	Point-in-time
Issuance of common stock for services	`StockIssuedDuringPeriodValueIssuedForServices`	$136.55K	USD	Annual
Issuance of common stock for services	`StockIssuedDuringPeriodValueIssuedForServices`	$29.30K	USD	Annual
Issuance of common stock for services, shares	`StockIssuedDuringPeriodSharesIssuedForServices`	174,194.00	shares	Annual
Issuance of common stock for services, shares	`StockIssuedDuringPeriodSharesIssuedForServices`	812,119.00	shares	Annual
Issuance of warrants for services	`AdjustmentsToAdditionalPaidInCapitalWarrantIssued`	$84.68K	USD	Annual
Issuance of warrants for services	`AdjustmentsToAdditionalPaidInCapitalWarrantIssued`	$9.77K	USD	Annual
Warrants exercised	`WarrantsExercised`	$97.25K	USD	Annual
Warrants exercised	`WarrantsExercised`	$105.00K	USD	Annual
Issuance of common stock and warrants for cash through PPM	`IssuanceOfCommonStockAndWarrantsForCashThroughPpm`	$1.17M	USD	Annual
Issuance of common stock and warrants for cash through PPM	`IssuanceOfCommonStockAndWarrantsForCashThroughPpm`	$1.00M	USD	Annual
Issuance of common stock in exchange for debt	`StockIssuedDuringPeriodValueConversionOfUnits`	-	USD	Annual
Issuance of common stock in exchange for debt	`StockIssuedDuringPeriodValueConversionOfUnits`	-	USD	Annual
Vesting of options under the employee, director plan	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$1.57M	USD	Annual
Vesting of options under the employee, director plan	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$637.03K	USD	Annual
Net Income (Loss)	`NetIncomeLoss`	$-3.96M	USD	Annual
Net Income (Loss)	`NetIncomeLoss`	$-3.06M	USD	Annual
Employee stock options exercised	`StockIssuedDuringPeriodValueStockOptionsExercised`	$15.90K	USD	Annual
Employee stock options exercised, shares	`StockIssuedDuringPeriodSharesStockOptionsExercised`	0.00	shares	Annual
Employee stock options exercised, shares	`StockIssuedDuringPeriodSharesStockOptionsExercised`	350,000.00	shares	Annual
Stock Recinded	`StockRedeemedOrCalledDuringPeriodValue`	$-1.50K	USD	Annual
Stock Recinded, shares	`StockRedeemedOrCalledDuringPeriodShares`	11,043.00	shares	Annual
Balance	`StockholdersEquity`	$-1.40M	USD	Point-in-time
Balance	`StockholdersEquity`	$-2.36M	USD	Point-in-time
Balance	`StockholdersEquity`	$-3.56M	USD	Point-in-time

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