2023 Q2 Form 10-Q Financial Statement

#000121390023038471 Filed on May 11, 2023

View on sec.gov

Income Statement

Concept 2023 Q2 2023 Q1 2022 Q1
Revenue $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $1.227M $1.325M $1.374M
YoY Change -3.98% -3.53%
% of Gross Profit
Research & Development $1.676M $1.355M $694.8K
YoY Change 121.64% 94.97%
% of Gross Profit
Depreciation & Amortization $253.2K $120.0K $39.97K
YoY Change 477.75% 200.27%
% of Gross Profit
Operating Expenses $2.904M $2.680M $2.068M
YoY Change 42.71% 29.56%
Operating Profit -$2.904M -$2.680M -$2.068M
YoY Change 46.23% 29.56%
Interest Expense $0.00
YoY Change
% of Operating Profit
Other Income/Expense, Net $90.38K $139.7K $54.86K
YoY Change 87.04% 154.7%
Pretax Income -$2.813M -$2.540M -$2.013M
YoY Change 45.21% 26.15%
Income Tax
% Of Pretax Income
Net Earnings -$2.813M -$2.540M -$2.013M
YoY Change 45.21% 26.15% 936.83%
Net Earnings / Revenue
Basic Earnings Per Share -$2.75 -$0.12 -$0.10
Diluted Earnings Per Share -$2.75 -$0.12 -$99.96K
COMMON SHARES
Basic Shares Outstanding 20.46M shares 20.46M shares 20.14M shares
Diluted Shares Outstanding 1.023M shares 20.38M shares 20.14M shares

Balance Sheet

Concept 2023 Q2 2023 Q1 2022 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $5.100M $6.782M $17.12M
YoY Change -66.75% -60.4%
Cash & Equivalents $5.100M $6.782M $17.12M
Short-Term Investments
Other Short-Term Assets $1.482M $2.120M $1.303M
YoY Change 42.84% 62.73%
Inventory $893.2K
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $6.582M $8.902M $19.32M
YoY Change -61.4% -53.92%
LONG-TERM ASSETS
Property, Plant & Equipment $1.464M $1.520M $740.4K
YoY Change 257.92% 105.25%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $31.68K $33.44K $20.23K
YoY Change -9.69% 65.31%
Total Long-Term Assets $1.896M $1.987M $760.7K
YoY Change 86.44% 161.15%
TOTAL ASSETS
Total Short-Term Assets $6.582M $8.902M $19.32M
Total Long-Term Assets $1.896M $1.987M $760.7K
Total Assets $8.478M $10.89M $20.08M
YoY Change -53.07% -45.78%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $271.5K $388.0K $716.8K
YoY Change 38.44% -45.87%
Accrued Expenses $1.392M $863.4K $592.6K
YoY Change 77.72% 45.69%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $4.810K $4.810K
YoY Change
Total Short-Term Liabilities $1.833M $1.420M $1.309M
YoY Change 87.08% 8.45%
LONG-TERM LIABILITIES
Long-Term Debt $14.10K $14.97K $0.00
YoY Change
Other Long-Term Liabilities $14.10K $14.97K $282.3K
YoY Change -96.72% -94.7%
Total Long-Term Liabilities $14.10K $14.97K $282.3K
YoY Change -96.72% -94.7%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.833M $1.420M $1.309M
Total Long-Term Liabilities $14.10K $14.97K $282.3K
Total Liabilities $2.102M $1.725M $1.592M
YoY Change 49.11% 8.37%
SHAREHOLDERS EQUITY
Retained Earnings -$22.35M -$19.54M
YoY Change 91.83%
Common Stock $102.00 $2.046K
YoY Change -94.94%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $6.376M $9.163M $18.49M
YoY Change
Total Liabilities & Shareholders Equity $8.478M $10.89M $20.08M
YoY Change -53.07% -45.78%

Cashflow Statement

Concept 2023 Q2 2023 Q1 2022 Q1
OPERATING ACTIVITIES
Net Income -$2.813M -$2.540M -$2.013M
YoY Change 45.21% 26.15% 936.83%
Depreciation, Depletion And Amortization $253.2K $120.0K $39.97K
YoY Change 477.75% 200.27%
Cash From Operating Activities -$1.478M -$2.934M -$1.877M
YoY Change -10.93% 56.27%
INVESTING ACTIVITIES
Capital Expenditures $201.1K $340.7K -$46.35K
YoY Change -263.16% -834.99%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$201.1K -$340.7K -$46.35K
YoY Change 63.16% 634.99%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -2.680K -$58.80K
YoY Change
NET CHANGE
Cash From Operating Activities -1.478M -$2.934M -1.877M
Cash From Investing Activities -201.1K -$340.7K -46.35K
Cash From Financing Activities -2.680K -$58.80K
Net Change In Cash -1.682M -$3.333M $0.00
YoY Change -5.66%
FREE CASH FLOW
Cash From Operating Activities -$1.478M -$2.934M -$1.877M
Capital Expenditures $201.1K $340.7K -$46.35K
Free Cash Flow -$1.679M -$3.274M -$1.831M
YoY Change 9.31% 78.83%

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>1. NATURE OF OPERATIONS AND BASIS OF PRESENTATION</b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Business</i></b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Bluejay Diagnostics, Inc. (“Bluejay” or the “Company”) is a medical diagnostics company developing rapid tests using whole blood on our Symphony technology platform (“Symphony”) to improve patient outcomes in critical care settings. The Company’s Symphony platform is a combination of Bluejay’s intellectual property (“IP”) and exclusively licensed and patented IP that consists of a mobile device and single-use test cartridges that if cleared, authorized, or approved by the U.S. Food and Drug Administration (the “FDA”), can provide a solution to a significant market need in the United States. Clinical trials indicate the Symphony device produces laboratory-quality results in less than 20 minutes in intensive care units and emergency rooms, where rapid and reliable results are required.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Bluejay’s first product, the Symphony IL-6 test, is for the monitoring of disease progression in critical care settings. IL-6 is a clinically established inflammatory biomarker, considered a ‘first-responder,’ for assessment of severity of infection and inflammation across many disease indications, including sepsis. A current challenge of healthcare professionals is the excessive time and cost associated determining a patient’s level of severity at triage and the Symphony IL-6 test has the ability to consistently monitor this critical care biomarker with rapid results.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In the future Bluejay plans to develop additional tests for Symphony including two cardiac biomarkers (hsTNT and NT pro-BNP), as well as other tests using the Symphony platform. The Company does not yet have regulatory clearance for its Symphony products, and its Symphony products will need to receive regulatory authorization from the FDA in order to be marketed as a diagnostic product in the United States.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Bluejay’s operations to date have been funded primarily through the proceeds of the Company’s initial public offering (the “IPO”) in November 2021 (the “IPO Date”).</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On June 4, 2021, the Company formed Bluejay Spinco, LLC, a wholly owned subsidiary of the Company, for purposes of further development of the Company’s ALLEREYE diagnostic test. ALLEREYE is a point-of-care device offering healthcare providers a solution for diagnosing Allergic Conjunctivitis.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b><i>Risks and Uncertainties</i></b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company is subject to a number of risks similar to other companies in its industry, including rapid technological change, competition from larger biotechnology companies and dependence on key personnel. The Company is also impacted by inflationary pressures and global supply chain disruptions currently impacting many companies.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; ">On October 25, 2022, the Company received a notification letter from the Nasdaq Listing Qualifications Staff of The Nasdaq Stock Market LLC (“Nasdaq”) notifying the Company that the closing bid price for its common stock had been below $1.00 for the previous 30 consecutive business days and that the Company therefore is not in compliance with the minimum bid price requirement for continued inclusion on the Nasdaq Capital Market under Nasdaq Listing Rule 5550(a)(2). The notification has no immediate effect on the listing of the Company’s common stock on the Nasdaq Capital Market. The Company intends to take all reasonable measures available to achieve compliance and allow for continued listing on the Nasdaq Capital Market. However, there can be no assurance that the Company will be able to regain compliance with the minimum bid price requirement or will otherwise be in compliance with other Nasdaq listing criteria.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b><i>Going Concern</i></b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Consolidated Financial Statements for the years ended March 31, 2023 and 2022 were prepared under the assumption that the Company will continue as a going concern, which contemplates that the Company will be able to realize assets and discharge liabilities in the normal course of business. However, the Company has incurred net losses since its inception, and has negative cash flows from operations and will need additional funding to complete planned development efforts. These conditions raise substantial doubt about the Company’s ability to continue as a going concern.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company had cash and cash equivalents of $6.8 million at March 31, 2023. It continues to develop the Symphony device and its first test for the measurement of IL-6. It remains committed to obtaining FDA clearance and is expanding clinical trials to obtain additional data to support its FDA submission, while also continuing to build its manufacturing operations with its contract manufacturing organizations. Current cash resources and expected operating expenses are considered in determining its liquidity requirement; as well as $1.4 million of current liabilities on its balance sheet at March 31, 2023 and capital commitments of approximately $2.5 million as of March 31, 2023 (see Notes 8 and 9). The Company estimates cash resources will be sufficient to fund its operations into the fourth quarter of 2023. The Company will need additional capital to fund its planned operations for the next 12 months.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company may seek to raise such additional capital through public or private equity offerings, grant financing and support from governmental agencies, convertible debt, collaborations, strategic alliances and distribution arrangements. Additional funds may not be available when it needs them on terms that are acceptable to them, or at all. If adequate funds are not available, it may be required to delay or reduce the scope of its research or development programs, its commercialization efforts or its manufacturing commitments and capacity. In addition, if it raises additional funds through collaborations, strategic alliances or distribution arrangements with third parties, it may have to relinquish valuable rights to its technologies or future revenue streams.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25pt"><b><i>Basis of Presentation</i></b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25pt; text-align: justify">The accompanying unaudited condensed consolidated financial statements of the Company have been prepared in conformity with generally accepted accounting principles in the United States (“US GAAP”) consistent with those applied in, and should be read in conjunction with, the Company’s audited financial statements and related footnotes for the year ended December 31, 2022 included in the Company’s Annual Report on Form 10-K. The unaudited condensed consolidated financial statements reflect all adjustments, which include only normal recurring adjustments, necessary for the fair presentation of the Company’s financial position as of March 31, 2023, its results of operations and cash flows for the three months ended March 31, 2023 and 2022, in accordance with US GAAP. The unaudited condensed consolidated financial statements do not include all of the information and footnotes required by US GAAP for complete financial statements, as allowed by the relevant U.S. Securities and Exchange Commission (“SEC”) rules and regulations; however, the Company believes that its disclosures are adequate to ensure that the information presented is not misleading. The condensed consolidated financial statements include the accounts of the Company and its wholly owned subsidiary. All intercompany balances and transactions have been eliminated in consolidation.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25pt; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25pt; text-align: justify">The results for the three months ended March 31, 2023 are not necessarily indicative of the results that may be expected for the fiscal year ending December 31, 2023, or any other interim period within this fiscal year.</p>
CY2023Q1 us-gaap Share Price
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1
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b><i>Use of estimates</i></b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts and disclosures reported in these condensed consolidated financial statements and accompanying notes. Actual results could differ materially from those estimates. The Company believes judgment is involved in accounting for the fair value-based measurement of stock-based compensation, accruals, and warrants. The Company evaluates its estimates and assumptions as facts and circumstances dictate. As future events and their effects cannot be determined with precision, actual results could differ from these estimates and assumptions, and those differences could be material to the condensed consolidated financial statements.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p>
CY2023Q1 bjdx Option To Purchase Common Stock
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CY2022Q1 bjdx Warrants For Common Stock
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811882 usd
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2484000 usd
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2484000 usd
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75400 usd
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76500 usd
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CY2020Q4 bjdx Sale Term
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Holders of Class B Warrants may also exercise such warrants on a “cashless” basis after the earlier of (i) 10 trading days from closing date of the offering or (ii) the time when $10.0 million of volume is traded in the Company’s common stock, if the volume weighted average price of the Company’s common stock on any trading day on or after the closing date of the offering fails to exceed the exercise price of the Class B Warrant (subject to adjustment as described in the warrant agreement).
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197500 shares
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20000 shares
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CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
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P7Y8M12D
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23316 usd
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
564440 shares
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1.86
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ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableAggregateIntrinsicValue
23316 usd
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ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
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1.48
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89451 usd
CY2023Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Exercisable Weighted Average Remaining Contractual Term1
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P1Y1M6D
CY2021 bjdx Employees Cost Plus Percentage
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0.10 pure
CY2023Q1 bjdx Schedule Of Amounts Earned And Due
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<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Three Months Ended <br/> March 31,</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; text-align: left">Income from NanoHybrids included in Other Income</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">95,798</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">40,886</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Cash receipts from NanoHybrids</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">19,731</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">22,539</td><td style="text-align: left"> </td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25pt; text-align: justify"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">As of</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">March 31, <br/> 2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">December 31, <br/> 2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; text-align: left">Amounts receivable from NanoHybrids included in Prepaids and Other Current Assets</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">95,798</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">19,731</td><td style="width: 1%; text-align: left"> </td></tr> </table>
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CY2022Q1 us-gaap Related Party Transaction Amounts Of Transaction
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CY2023Q1 bjdx Cash Received From Related Party
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19731 usd
CY2022Q1 bjdx Cash Received From Related Party
CashReceivedFromRelatedParty
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CY2023Q1 bjdx Related Partys Transaction Due From To Related Party
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CY2022Q1 bjdx Related Partys Transaction Due From To Related Party
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19731 usd
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CY2023Q1 us-gaap Property Plant And Equipment Gross
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2236145 usd
CY2022Q4 us-gaap Property Plant And Equipment Gross
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596406 usd
CY2023Q1 us-gaap Property Plant And Equipment Net
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1519722 usd
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1232070 usd
CY2023Q1 us-gaap Depreciation Nonproduction
DepreciationNonproduction
45000 usd
CY2023Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
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P3Y6M
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P4Y3M18D
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P4Y9M18D
CY2023Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.07 pure
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OperatingLeaseWeightedAverageDiscountRatePercent
0.07 pure
CY2023Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
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CY2022Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
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CY2023Q1 us-gaap Finance Lease Interest Payment On Liability
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1202 usd
CY2023Q1 us-gaap Operating Lease Right Of Use Asset
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CY2022Q4 us-gaap Operating Lease Right Of Use Asset
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CY2023Q1 bjdx Financeleaseassetnet
financeleaseassetnet
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CY2022Q4 bjdx Financeleaseassetnet
financeleaseassetnet
21067 usd
CY2023Q1 bjdx Total Lease Rightof Use Assets
TotalLeaseRightofUseAssets
454428 usd
CY2022Q4 bjdx Total Lease Rightof Use Assets
TotalLeaseRightofUseAssets
486581 usd
CY2023Q1 us-gaap Operating Lease Expense
OperatingLeaseExpense
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CY2022 us-gaap Operating Lease Expense
OperatingLeaseExpense
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CY2023Q1 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
4807 usd
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FinanceLeaseInterestExpense
4807 usd
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289910 usd
CY2022 us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
323915 usd
CY2023Q1 bjdx Noncurrent Finance Lease Liabilities Included In Other Noncurrent Liabilities
NoncurrentFinanceLeaseLiabilitiesIncludedInOtherNoncurrentLiabilities
14970 usd
CY2022Q4 bjdx Noncurrent Finance Lease Liabilities Included In Other Noncurrent Liabilities
NoncurrentFinanceLeaseLiabilitiesIncludedInOtherNoncurrentLiabilities
15823 usd
CY2023Q1 bjdx Total Lease Liabilities
TotalLeaseLiabilities
478396 usd
CY2022 bjdx Total Lease Liabilities
TotalLeaseLiabilities
513251 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Two
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162991 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Three
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100000 usd
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LesseeOperatingLeaseLiabilityPaymentsDueYearFour
100000 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
25000 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
514521 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
55902 usd
CY2023Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
458619 usd
CY2023Q1 us-gaap Purchase Commitment Remaining Minimum Amount Committed
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800000 usd
CY2023Q1 bjdx Prepaid Percentage
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0.50 pure
CY2023Q1 bjdx Portion Expensed
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90000 usd
CY2023Q1 bjdx Totaled Approximately Amount
TotaledApproximatelyAmount
127000 usd
CY2023Q1 bjdx Noncancellable Purchase Obligations
NoncancellablePurchaseObligations
1500000 usd
CY2023Q1 bjdx Toray Royalty Commitment Description
TorayRoyaltyCommitmentDescription
As required under the License Agreement (see Note 3), following the first sale of Cartridges, the Company will also make royalty payments to Toray equal to 15% of the net sales of the Cartridges for the period that any underlying patents exist or for 5 years after the first sale. Following the first sale, the Company will pay a one-time minimum royalty of $60,000, which shall be creditable against any royalties owed to Toray in such calendar year. The Company will pay a minimum royalty of $100,000 in each year thereafter, which are creditable against any royalties owed to Toray in such calendar year.
CY2023Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
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CY2023Q1 us-gaap Prepaid Insurance
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CY2023Q1 us-gaap Prepaid Expense And Other Assets Current
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CY2022Q4 us-gaap Prepaid Expense And Other Assets Current
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1673480 usd
CY2023Q1 bjdx Accrued Personnel Costs
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343706 usd
CY2022Q4 bjdx Accrued Personnel Costs
AccruedPersonnelCosts
533577 usd
CY2023Q1 bjdx Accrued Good Receipts
AccruedGoodReceipts
281054 usd
CY2022Q4 bjdx Accrued Good Receipts
AccruedGoodReceipts
10077 usd
CY2023Q1 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
238637 usd
CY2022Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
292076 usd
CY2023Q1 us-gaap Accrued Liabilities And Other Liabilities
AccruedLiabilitiesAndOtherLiabilities
863397 usd
CY2022Q4 us-gaap Accrued Liabilities And Other Liabilities
AccruedLiabilitiesAndOtherLiabilities
835730 usd
CY2023Q1 dei Entity Registrant Name
EntityRegistrantName
Bluejay Diagnostics, Inc.
CY2022Q1 us-gaap Stock Issued During Period Value Other
StockIssuedDuringPeriodValueOther
usd
CY2023Q1 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
usd
CY2023Q1 us-gaap Increase Decrease In Due From Related Parties
IncreaseDecreaseInDueFromRelatedParties
usd
CY2023Q1 us-gaap Stock Issued During Period Shares Share Based Compensation Forfeited
StockIssuedDuringPeriodSharesShareBasedCompensationForfeited
shares
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
CY2023Q1 bjdx Weighted Average Remaining Contractual Life In Years Cancelled And Forfeited
WeightedAverageRemainingContractualLifeInYearsCancelledAndForfeited
CY2022Q1 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
CY2022Q1 us-gaap Finance Lease Interest Payment On Liability
FinanceLeaseInterestPaymentOnLiability
usd
CY2023Q1 bjdx Lessor Operating Lease Paymentstobe Received Thereafter
LessorOperatingLeasePaymentstobeReceivedThereafter
usd
CY2023Q1 dei Amendment Flag
AmendmentFlag
false
CY2023Q1 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
CY2023Q1 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q1
CY2023Q1 dei Entity Central Index Key
EntityCentralIndexKey
0001704287

Files In Submission

Name View Source Status
bjdx-20230331_cal.xml Edgar Link unprocessable
bjdx-20230331_pre.xml Edgar Link unprocessable
0001213900-23-038471-index-headers.html Edgar Link pending
0001213900-23-038471-index.html Edgar Link pending
0001213900-23-038471.txt Edgar Link pending
0001213900-23-038471-xbrl.zip Edgar Link pending
bjdx-20230331.xsd Edgar Link pending
f10q0323ex31-1_bluejay.htm Edgar Link pending
f10q0323ex31-2_bluejay.htm Edgar Link pending
f10q0323ex32-1_bluejay.htm Edgar Link pending
f10q0323ex32-2_bluejay.htm Edgar Link pending
f10q0323_bluejay.htm Edgar Link pending
Financial_Report.xlsx Edgar Link pending
MetaLinks.json Edgar Link pending
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bjdx-20230331_def.xml Edgar Link unprocessable
bjdx-20230331_lab.xml Edgar Link unprocessable
FilingSummary.xml Edgar Link unprocessable
f10q0323_bluejay_htm.xml Edgar Link completed
R45.htm Edgar Link pending
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report.css Edgar Link pending
Show.js Edgar Link pending