Bluefire Renewables, Inc.

CIK:0001370489|SEC Filings

Consolidated Statements of Operations (Unaudited) - USD ($)	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Revenues:
Department of Energy grant revenue
Total revenues
Cost of revenue
Gross margin
Operating expenses:
Project development		30,803
General and administrative	102,370	175,925
Total operating expenses	102,370	206,728
Operating loss	(102,370)	(206,728)
Other income and (expense):
Amortization of debt discount	(24,991)	(3,889)
Interest expense	(4,785)	(13,680)
Related party interest expense	(7,684)	(7,147)
Gain from disposal of assets	1,000
Gain (loss) from change in fair value of derivative liability	8,408	(1,021)
Total other income and (expense)	(28,052)	(25,737)
Loss before income taxes	(130,422)	(232,465)
Provision for income taxes	967
Net loss	(131,389)	(232,465)
Net loss attributable to noncontrolling interest		(864)
Net loss attributable to controlling interest	$ (131,389)	$ (231,601)
Basic and diluted loss per common share	$ (0.00)	$ (0.00)
Weighted average common shares outstanding, basic and diluted	771,177,751	408,203,492

Consolidated Statements of Cash Flows (Unaudited) - USD ($)	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Cash flows from operating activities:
Net loss	$ (131,389)	$ (232,465)
Adjustments to reconcile net loss to net cash used in operating activities:
Loss (gain) from change in fair value of derivative liability	(8,408)	1,021
Amortization of debt discounts	24,991	3,889
Excess fair value of shares issued	62,714
Gain on disposal of assets	(1,000)
Share based compensation	17,870
Changes in operating assets and liabilities:
Prepaid expenses and other current assets	2,917	(29,167)
Accounts payable	(1,315)	(4,788)
Accrued liabilities	13,369	106,368
Net cash used in operating activities	(20,251)	(155,142)
Cash flows from financing activities:
Proceeds from line of credit/notes payable	25,000
Proceeds from the sale of assets	1,000
Net cash provided by financing activities	26,000
Net change in cash and cash equivalents	5,749	(155,142)
Cash and cash equivalents beginning of period	67	161,991
Cash and cash equivalents end of period	5,816	6,849
Supplemental schedule of non-cash investing and financing activities:
Relief of accrued payables and accrued liabilities through issuance of common stock.	41,695
Derivative liability reclassed to additional paid-in capital	$ 43,240

Consolidated Balance Sheets (Unaudited) - USD ($)	Mar. 31, 2018	Dec. 31, 2017
Current assets:
Cash and cash equivalents	$ 5,816	$ 67
Prepaid expenses	977	3,894
Total current assets	6,793	3,961
Property and equipment, net of accumulated depreciation of $39,220 and $82,323, respectively
Total assets	6,793	3,961
Current liabilities:
Accounts payable	1,101,892	1,103,207
Accrued liabilities	1,125,822	1,112,453
Convertible accounts payable and accrued liabilities	944,350	986,045
Notes payable	445,000	420,000
Line of credit, related party	256,245	256,245
Note payable to a related party	200,000	200,000
Convertible notes payable, net of discount of $2,499 and $27,489, respectively	47,483	22,492
Derivative liabilities	805,848	858,099
Total current liabilities	4,926,640	4,958,541
Total liabilities	4,926,640	4,958,541
Commitments and contingencies (Note 7)
Redeemable noncontrolling interest	859,377	859,377
Stockholders' deficit:
Preferred stock, no par value, 1,000,000 shares authorized; 51 and 51 shares issued and outstanding as of March 31, 2018, and December 31, 2017, respectively
Common stock, $0.001 par value; 5,000,000,000 shares authorized; 849,726,109 and 499,680,109 shares issued and 849,693,938 and 499,647,938 outstanding, as of March 31, 2018, and December 31, 2017, respectively	849,727	499,681
Additional paid-in capital	16,896,450	17,080,374
Treasury stock at cost, 32,172 shares	(101,581)	(101,581)
Accumulated deficit	(23,423,820)	(23,292,431)
Total stockholders' deficit	(5,779,224)	(5,813,957)
Total liabilities and stockholders' deficit	$ 6,793	$ 3,961