2023 Q2 Form 10-Q Financial Statement
#000121390023038471 Filed on May 11, 2023
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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NetCashProvidedByUsedInFinancingActivities
|
-58803 | usd |
CY2023Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
|
-3333079 | usd |
CY2022Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
|
-1923601 | usd |
CY2022Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
10114990 | usd |
CY2021Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
19047778 | usd |
CY2023Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
6781911 | usd |
CY2022Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
17124177 | usd |
CY2023Q1 | us-gaap |
Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
|
67000 | usd |
CY2023Q1 | us-gaap |
Nature Of Operations
NatureOfOperations
|
<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
SharePrice
|
1 | |
CY2023Q1 | bjdx |
Unrestricted Cash And Cash Equivalents
UnrestrictedCashAndCashEquivalents
|
6800000 | usd |
CY2023Q1 | us-gaap |
Other Accounts Payable And Accrued Liabilities
OtherAccountsPayableAndAccruedLiabilities
|
1400000 | usd |
CY2023Q1 | us-gaap |
Other Commitment
OtherCommitment
|
2500000 | usd |
CY2023Q1 | us-gaap |
Use Of Estimates
UseOfEstimates
|
<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
OptionToPurchaseCommonStock
|
739835 | usd |
CY2022Q1 | bjdx |
Option To Purchase Common Stock
OptionToPurchaseCommonStock
|
806065 | usd |
CY2023Q1 | us-gaap |
Restricted Stock Expense
RestrictedStockExpense
|
197500 | usd |
CY2023Q1 | bjdx |
Warrants For Common Stock
WarrantsForCommonStock
|
811882 | usd |
CY2022Q1 | bjdx |
Warrants For Common Stock
WarrantsForCommonStock
|
811882 | usd |
CY2023Q1 | bjdx |
Class A Warrants For Common Stockin Shares
ClassAWarrantsForCommonStockinShares
|
2484000 | usd |
CY2022Q1 | bjdx |
Class A Warrants For Common Stockin Shares
ClassAWarrantsForCommonStockinShares
|
2484000 | usd |
CY2023Q1 | bjdx |
Class B Warrants For Common Stockin Shares
ClassBWarrantsForCommonStockinShares
|
75400 | usd |
CY2022Q1 | bjdx |
Class B Warrants For Common Stockin Shares
ClassBWarrantsForCommonStockinShares
|
76500 | usd |
CY2020Q4 | bjdx |
Royalty Percentage
RoyaltyPercentage
|
0.15 | pure |
CY2020Q4 | bjdx |
Sale Term
SaleTerm
|
P5Y | |
CY2023Q1 | bjdx |
Class B Warrant Rights Description
ClassBWarrantRightsDescription
|
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). | |
CY2023Q1 | us-gaap |
Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
|
||
CY2022Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
|
60000 | shares |
CY2022Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue
|
1.29 | |
CY2023Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod
|
512180 | shares |
CY2023Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
|
0.44 | |
CY2023Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod
|
374680 | shares |
CY2023Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue
|
0.44 | |
CY2023Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
|
197500 | shares |
CY2023Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue
|
700000 | |
CY2023Q1 | bjdx |
Restricted Stock Units Bonus Grant
RestrictedStockUnitsBonusGrant
|
374680 | shares |
CY2022Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
|
719835 | shares |
CY2022Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
|
1.96 | |
CY2023Q1 | bjdx |
Weighted Average Remaining Contractual Life In Years Outstanding At Begining Balance
WeightedAverageRemainingContractualLifeInYearsOutstandingAtBeginingBalance
|
P6Y6M | |
CY2022Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
|
20578 | usd |
CY2023Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
|
20000 | shares |
CY2023Q1 | us-gaap |
Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
|
0.53 | |
CY2023Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
|
739835 | shares |
CY2023Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
|
1.92 | |
CY2023Q1 | bjdx |
Weighted Average Remaining Contractual Life In Years Outstanding At Ending Balance
WeightedAverageRemainingContractualLifeInYearsOutstandingAtEndingBalance
|
P7Y8M12D | |
CY2023Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
|
23316 | usd |
CY2023Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
|
564440 | shares |
CY2023Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
|
1.86 | |
CY2023Q1 | bjdx |
Weighted Average Remaining Contractual Life In Years Exercisable
WeightedAverageRemainingContractualLifeInYearsExercisable
|
P7Y4M24D | |
CY2023Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableAggregateIntrinsicValue
|
23316 | usd |
CY2023Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
|
0.44 | |
CY2022 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
|
1.48 | |
CY2023Q1 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
219589 | usd |
CY2022Q1 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
126086 | usd |
CY2023Q1 | us-gaap |
Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
|
89451 | usd |
CY2023Q1 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageRemainingContractualTerm1
|
P1Y1M6D | |
CY2021 | bjdx |
Employees Cost Plus Percentage
EmployeesCostPlusPercentage
|
0.10 | pure |
CY2023Q1 | bjdx |
Schedule Of Amounts Earned And Due
ScheduleOfAmountsEarnedAndDue
|
<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> | |
CY2023Q1 | us-gaap |
Related Party Transaction Amounts Of Transaction
RelatedPartyTransactionAmountsOfTransaction
|
95798 | usd |
CY2022Q1 | us-gaap |
Related Party Transaction Amounts Of Transaction
RelatedPartyTransactionAmountsOfTransaction
|
40886 | usd |
CY2023Q1 | bjdx |
Cash Received From Related Party
CashReceivedFromRelatedParty
|
19731 | usd |
CY2022Q1 | bjdx |
Cash Received From Related Party
CashReceivedFromRelatedParty
|
22539 | usd |
CY2023Q1 | bjdx |
Related Partys Transaction Due From To Related Party
RelatedPartysTransactionDueFromToRelatedParty
|
95798 | usd |
CY2022Q1 | bjdx |
Related Partys Transaction Due From To Related Party
RelatedPartysTransactionDueFromToRelatedParty
|
19731 | usd |
CY2023Q1 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
|
||
CY2023Q1 | us-gaap |
Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
|
2236145 | usd |
CY2022Q4 | us-gaap |
Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
|
1828476 | usd |
CY2023Q1 | us-gaap |
Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
|
716423 | usd |
CY2022Q4 | us-gaap |
Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
|
596406 | usd |
CY2023Q1 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
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
OperatingLeaseWeightedAverageRemainingLeaseTerm1
|
P3Y6M | |
CY2022Q1 | us-gaap |
Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
|
P4Y3M18D | |
CY2023Q1 | us-gaap |
Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
|
P4Y9M18D | |
CY2023Q1 | us-gaap |
Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
|
0.07 | pure |
CY2022Q1 | us-gaap |
Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
|
0.07 | pure |
CY2023Q1 | us-gaap |
Operating Lease Payments
OperatingLeasePayments
|
43564 | usd |
CY2022Q1 | us-gaap |
Operating Lease Payments
OperatingLeasePayments
|
29248 | usd |
CY2023Q1 | us-gaap |
Finance Lease Interest Payment On Liability
FinanceLeaseInterestPaymentOnLiability
|
1202 | usd |
CY2023Q1 | us-gaap |
Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
|
433361 | usd |
CY2022Q4 | us-gaap |
Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
|
465514 | usd |
CY2023Q1 | bjdx |
Financeleaseassetnet
financeleaseassetnet
|
21067 | usd |
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
|
168709 | usd |
CY2022 | us-gaap |
Operating Lease Expense
OperatingLeaseExpense
|
168706 | usd |
CY2023Q1 | us-gaap |
Finance Lease Interest Expense
FinanceLeaseInterestExpense
|
4807 | usd |
CY2022 | us-gaap |
Finance Lease Interest Expense
FinanceLeaseInterestExpense
|
4807 | usd |
CY2023Q1 | us-gaap |
Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
|
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
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
|
162991 | usd |
CY2023Q1 | us-gaap |
Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
|
100000 | usd |
CY2023Q1 | us-gaap |
Lessee Operating Lease Liability Payments Due Year Four
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
PurchaseCommitmentRemainingMinimumAmountCommitted
|
800000 | usd |
CY2023Q1 | bjdx |
Prepaid Percentage
PrepaidPercentage
|
0.50 | pure |
CY2023Q1 | bjdx |
Portion Expensed
PortionExpensed
|
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
|
usd | |
CY2023Q1 | us-gaap |
Prepaid Insurance
PrepaidInsurance
|
564361 | usd |
CY2022Q4 | us-gaap |
Prepaid Insurance
PrepaidInsurance
|
751979 | usd |
CY2023Q1 | bjdx |
Vendor Prepayments
VendorPrepayments
|
-1195193 | usd |
CY2022Q4 | bjdx |
Vendor Prepayments
VendorPrepayments
|
-681218 | usd |
CY2023Q1 | us-gaap |
Other Prepaid Expense Current
OtherPrepaidExpenseCurrent
|
360458 | usd |
CY2022Q4 | us-gaap |
Other Prepaid Expense Current
OtherPrepaidExpenseCurrent
|
240283 | usd |
CY2023Q1 | us-gaap |
Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
|
2120012 | usd |
CY2022Q4 | us-gaap |
Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
|
1673480 | usd |
CY2023Q1 | bjdx |
Accrued Personnel Costs
AccruedPersonnelCosts
|
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 |