Blue Biofuels Inc (BIOF)

[LTE]

Massive Impairment Charge - this is not good because it directly
relates to ALLM's core business.

ALLM had to write down / impair this significant asset because it
wasn't generating revenue. If they kept the asset value at $7 million
without producing revenue, they could have been nailed for accounting
fraud - claiming an asset that's not really an asset - it's similar to
making an asset out of thin air and that can only last for so long.

Since this is an audited document, they had to finally impair this
important asset:

<<For the year ended December 31, 2017 the Company’s equity loss in an unconsolidated affiliate increased by approximately $35,570 to $194,688 from $159,118 in 2016. This increase can be attributed to the Company’s maintenance of its patent portfolio and its worldwide patent protection. In addition, during the years ended December 31, 2017 and December 31, 2016, the Company recorded non-cash impairments of $4,069,995 and $3,207,701 respectively.>>

<<Due to a lack of revenue from the Company’s core business, the Company recorded a non-cash impairment loss on its investment in Carbolosic of $4,069,995 and $3,207,701 at December 31, 2017 and December 31, 2016 respectively. The impairment loss was determined by using an income approach through a discounted future adjusted net cash flow method.>>

https://backend.otcmarkets.com/otcapi/company/sec-filings/12689168/content/html