Bluefire Renewables, Inc. (fka BFRE)

[spec machine]

under Note 4

Asher Enterprises, Inc.

On June 13, 2013, the Company issued a convertible note in favor of Asher Enterprises, Inc. in the principal amount of $32,000 pursuant to the terms above, with a maturity date of March 17, 2014. In accordance with the terms of the note, the note became convertible on December 10, 2013.

The Company calculated the derivative liability using the Black-Scholes pricing model for the note upon the initial date the note became convertible and recorded the fair market value of the derivative liability of approximately $28,000, resulting in a discount to the note. The discount was amortized over the term of the note and accelerated as the note was converted. As of December 31, 2014, the entire discount was amortized to interest expense, with no remaining unamortized discount and the note was fully converted into 22,207,699 shares of common stock.

On December 19, 2013, the Company issued a convertible note in favor of Asher Enterprises, Inc. in the principal amount of $37,500 which was funded and effective in January 2014 with terms identified above and has a maturity date of December 23, 2014. The conversion feature was not triggered until July 2014 due to the effective date of the note being in January 2014.

The Company calculated the derivative liability using the Black-Scholes pricing model for the note upon the initial date the note became convertible and recorded the fair market value of the derivative liability of approximately $35,290, resulting in a discount to the note. The discount was amortized over the term of the note and accelerated as the note was converted. As of December 31, 2014, the entire discount was amortized to interest expense, with no remaining unamortized discount and the note was fully converted into 24,537,990 shares of common stock.

also in that section, but summarized here
Tarpon Bay Convertible Notes
45.6M shares at .0011

AKR Promissory Note
$380K - not converted yet

Kodiak Promissory Note
$60K fee - not converted
no "put shares" (of the "up to $1.5M") purchased yet


Asher conversion 1 = 22.2M shares @ .0014
Asher conversion 2 = 24.5M shares @ .001

Under Note 6
Fulton Project Lease
During 2014, the County of Itawamba forgave approximately $96,000 in lease payments. As of March 31, 2015, the Company is in technical default of the lease due to non-payment.

there is more but it's pretty obviously a sinking ship of hope linked to a failed conversion process technology known as "Arkenol"

spec