We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Share Name | Share Symbol | Market | Type |
---|---|---|---|
Ocean Thermal Energy Corporation (CE) | USOTC:CPWR | OTCMarkets | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.0075 | 0.00 | 01:00:00 |
FORM 10-Q
|
Commission
File Number
033-19411-C
|
OCEAN
THERMAL ENERGY
CORPORATION
|
(Exact
name of registrant as specified in its charter)
|
Nevada
|
20-5081381
|
(State
or other jurisdiction of incorporation or
organization)
|
(I.R.S.
Employer Identification No.)
|
800 South Queen Street, Lancaster, PA 17603
|
(Address
of principal executive offices, including zip code)
|
|
(717) 299-1344
|
(Registrant’s
telephone number, including area code)
|
|
n/a
|
(Former
name, former address and former fiscal year, if changed since last
report)
|
Yes
|
[X]
|
No
|
[ ]
|
Yes
|
[X]
|
No
|
[ ]
|
|
Large
accelerated filer [ ]
|
Accelerated
filer [ ]
|
|
Non-accelerated
filer [ ]
|
Smaller
reporting company [X]
|
|
Emerging
growth company [ ]
|
|
Yes
|
[ ]
|
No
|
[X]
|
|
Description
|
Page
|
|
|
|
|
|
|
|
|
|
Item
1
|
|
|
|
3
|
|
|
4
|
|
|
5
|
|
|
6
|
|
Item
2
|
17
|
|
Item
3
|
19
|
|
Item
4
|
19
|
|
|
|
|
|
|
|
|
|
|
Item
1
|
20
|
|
Item
2
|
20
|
|
Item
3
|
20
|
|
Item
6
|
21
|
|
|
22
|
O
CEAN THERMAL ENERGY
CORPORATION AND SUBSIDIARIES
|
||||
(FORMERLY KNOWN AS TETRIDYN SOLUTIONS, INC)
|
||||
CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS
|
||||
(Unaudited)
|
||||
|
|
|
|
|
|
For the
three months ended
|
For the
six months ended
|
||
|
June
30, 2018
|
June
30, 2017
|
June
30, 2018
|
June
30, 2017
|
Operating Expenses
|
|
|
|
|
Salaries
and wages
|
$
288,958
|
$
296,339
|
$
618,947
|
$
553,827
|
Professional
fees
|
663,731
|
150,977
|
870,968
|
503,773
|
General
and administrative
|
192,071
|
174,609
|
419,059
|
252,955
|
Warrant
Expense
|
-
|
-
|
-
|
6,769,562
|
Total Operating Expenses
|
1,144,760
|
621,925
|
1,908,974
|
8,080,117
|
|
|
|
|
|
Loss from Operations
|
(1,144,760
)
|
(621,925
)
|
(1,908,974
)
|
(8,080,117
)
|
|
|
|
|
|
Other Income & Expenses
|
|
|
|
|
Interest
Expense, net
|
(174,610
)
|
(133,107
)
|
(335,925
)
|
(238,100
)
|
Amortization
of debt discount
|
(63,259
)
|
(42,436
)
|
(89,540
)
|
(44,960
)
|
Income
from legal settlement
|
50,000
|
-
|
50,000
|
-
|
Total Other Expense
|
(187,869
)
|
(175,543
)
|
(375,465
)
|
(283,060
)
|
|
|
|
|
|
Loss Before Income Taxes
|
(1,332,629
)
|
(797,468
)
|
(2,284,439
)
|
(8,363,177
)
|
|
|
|
|
|
Provision for Income Taxes
|
-
|
-
|
-
|
-
|
|
|
|
|
|
Net Loss
|
$
(1,332,629
)
|
$
(797,468
)
|
$
(2,284,439
)
|
$
(8,363,177
)
|
|
|
|
|
|
Net Loss per Common Share
|
|
|
|
|
Basic and Diluted
|
$
(0.01
)
|
$
(0.01
)
|
$
(0.02
)
|
$
(0.08
)
|
|
|
|
|
|
Weighted Average Number of Common Shares Outstanding
|
123,014,772
|
111,149,698
|
122,863,872
|
107,689,883
|
|
|
|
|
|
O
CEAN THERMAL ENERGY
CORPORATION AND SUBSIDIARIES
|
||
(FORMERLY KNOWN AS TETRIDYN SOLUTIONS, INC)
|
||
CONDENSED CONSOLIDATED SATEMENTS OF CASH FLOW
|
||
(Unaudited)
|
||
|
||
|
For six months ended
|
|
|
June 30, 2018
|
June 30, 2017
|
Cash Flows From Operating Activities:
|
|
|
Net
loss
|
$
(2,284,439
)
|
$
(8,363,177
)
|
Adjustments
to reconcile net loss to net cash used in operating
activities
|
|
|
Depreciation
|
339
|
673
|
Stock
issued for services
|
130,966
|
244,800
|
Warrant
Expense
|
-
|
6,769,562
|
Amortization
of debt discount
|
89,540
|
44,960
|
Changes
in assets and liabilities:
|
|
|
Prepaid
expenses
|
(1,197
)
|
30,549
|
Accounts
payable & accrued expenses
|
687,924
|
509,562
|
Net Cash Used In Operating Activities
|
(1,376,867
)
|
(763,071
)
|
|
|
|
Cash Flow From Investing Activities:
|
|
|
Cash
acquired from TetriDyn Solutions, Inc.
|
-
|
4,512
|
Assets
under construction
|
(30,000
)
|
(42,853
)
|
Cash
paid to TetriDyn Solutions, Inc.
|
-
|
(49,773
)
|
Net Cash Used In Investing Activities
|
(30,000
)
|
(88,114
)
|
|
|
|
Cash Flows From Financing Activities:
|
|
|
Repayment
of due to related party
|
-
|
(36,822
)
|
Repayment
of notes payable - related party
|
(53,500
)
|
(25,000
)
|
Repayment
of notes payable
|
(2,716
)
|
-
|
Proceeds
from notes payable
|
489,156
|
-
|
Proceeds
from convertible notes payable
|
615,087
|
-
|
Proceeds
from notes payable - related party
|
-
|
200,000
|
Proceeds
from due to related party
|
-
|
50,000
|
Proceeds
from issuance of common stock
|
-
|
45,000
|
Proceeds
from exercise of warrants
|
9,095
|
748,535
|
Stock
repurchased from related parties
|
-
|
(111,440
)
|
Net Cash Provided by Financing Activities
|
1,057,122
|
870,273
|
|
|
|
Net
(decrease) increase in cash and cash equivalents
|
(349,745
)
|
19,088
|
Cash
and cash equivalents at beginning of period
|
425,015
|
7,495
|
Cash and Cash Equivalents at End of Period
|
$
75,270
|
$
26,583
|
|
|
|
Supplemental disclosure of cash flow information
|
|
|
Cash
paid for interest expense
|
$
25,812
|
$
13,160
|
Cash
paid for income taxes
|
$
-
|
$
-
|
|
|
|
Supplemental disclosure of non-cash investing and financing
activities:
|
|
|
Debt
discount on note payable
|
$
34,975
|
$
-
|
Convertible
note payable - related party converted to common stock
|
$
-
|
$
25,000
|
The accompanying notes are an integral part of these condensed
consolidated financial statements.
|
|
|
|
|
|
|
|
|
Related Party
|
Non Related Party
|
||
Date of Issuance
|
Maturity Date
|
Interest Rate
|
In Default
|
Original Principal
|
Principal at June 30, 2018
|
Discount at June 30, 2018
|
Carrying Amount at June 30, 2018
|
Current
|
Long-Term
|
Current
|
Long-Term
|
12/12/2006
|
1/5/2013
|
6.25
%
|
Yes
|
58,670
|
9,557
|
-
|
9,557
|
-
|
-
|
9,557
|
-
|
12/1/2007
|
9/1/2015
|
7.00
%
|
Yes
|
125,000
|
85,821
|
-
|
85,821
|
-
|
-
|
85,821
|
-
|
9/25/2009
|
10/25/2011
|
5.00
%
|
Yes
|
50,000
|
50,000
|
-
|
50,000
|
-
|
-
|
50,000
|
-
|
12/23/2009
|
12/23/2014
|
7.00
%
|
Yes
|
100,000
|
94,480
|
-
|
94,480
|
-
|
-
|
94,480
|
-
|
12/23/2009
|
12/23/2014
|
7.00
%
|
Yes
|
25,000
|
23,619
|
-
|
23,619
|
-
|
-
|
23,619
|
-
|
12/23/2009
|
12/23/2014
|
7.00
%
|
Yes
|
25,000
|
23,620
|
-
|
23,620
|
-
|
-
|
23,620
|
-
|
02/03/12
|
12/31/18
|
10.00
%
|
No
|
1,000,000
|
1,000,000
|
-
|
1,000,000
|
1,000,000
|
-
|
-
|
-
|
08/15/13
|
10/31/23
|
10.00
%
|
No
|
525,000
|
158,334
|
-
|
158,334
|
-
|
|
-
|
158,334
|
12/31/13
|
12/31/15
|
8.00
%
|
Yes
|
290,000
|
130,000
|
-
|
130,000
|
130,000
|
-
|
-
|
-
|
04/01/14
|
12/31/18
|
10.00
%
|
No
|
2,265,000
|
1,102,500
|
-
|
1,102,500
|
1,102,500
|
-
|
-
|
-
|
12/22/14
|
03/31/15
|
12.00
%
|
Yes
|
200,000
|
200,000
|
-
|
200,000
|
-
|
-
|
200,000
|
-
|
12/26/14
|
12/26/15
|
12.00
%
|
Yes
|
100,000
|
100,000
|
-
|
100,000
|
-
|
-
|
100,000
|
-
|
3/12/2015
|
* See note
below
|
6.00
%
|
No
|
394,380
|
394,380
|
-
|
394,380
|
394,380
|
-
|
-
|
-
|
4/7/15
|
04/17/18
|
10.00
%
|
No
|
50,000
|
50,000
|
-
|
50,000
|
-
|
-
|
50,000
|
|
11/23/2015
|
* See note
below
|
6.00
%
|
No
|
50,000
|
50,000
|
-
|
50,000
|
50,000
|
-
|
-
|
-
|
2/25/2016
|
* See note
below
|
6.00
%
|
No
|
50,000
|
50,000
|
-
|
50,000
|
50,000
|
-
|
-
|
-
|
5/20/2016
|
* See note
below
|
6.00
%
|
No
|
50,000
|
50,000
|
-
|
50,000
|
50,000
|
-
|
-
|
-
|
10/20/2016
|
* See note
below
|
6.00
%
|
No
|
50,000
|
12,500
|
-
|
12,500
|
12,500
|
-
|
-
|
-
|
10/20/2016
|
* See note
below
|
6.00
%
|
No
|
12,500
|
12,500
|
-
|
12,500
|
12,500
|
-
|
-
|
-
|
12/21/2016
|
* See note
below
|
6.00
%
|
No
|
25,000
|
25,000
|
-
|
25,000
|
25,000
|
-
|
-
|
-
|
3/9/2017
|
* See note
below
|
10.00
%
|
No
|
200,000
|
177,000
|
-
|
177,000
|
177,000
|
-
|
-
|
-
|
7/13/2017
|
7/13/2019
|
6.00
%
|
No
|
25,000
|
25,000
|
-
|
25,000
|
-
|
-
|
-
|
25,000
|
7/18/2017
|
7/18/2019
|
6.00
%
|
No
|
25,000
|
25,000
|
-
|
25,000
|
-
|
-
|
-
|
25,000
|
7/26/2017
|
7/26/2019
|
6.00
%
|
No
|
15,000
|
15,000
|
-
|
15,000
|
-
|
-
|
-
|
15,000
|
7/27/2017
|
7/27/2019
|
6.00
%
|
No
|
15,000
|
15,000
|
-
|
15,000
|
-
|
-
|
-
|
15,000
|
12/20/2017
|
7/30/2019
|
10.00
%
|
No
|
50,000
|
50,000
|
2,919
|
47,081
|
-
|
-
|
-
|
47,081
|
12/20/2017
|
7/30/2019
|
10.00
%
|
No
|
10,000
|
10,000
|
417
|
9,583
|
-
|
-
|
-
|
9,583
|
12/21/2017
|
7/30/2019
|
10.00
%
|
No
|
50,000
|
50,000
|
2,901
|
47,099
|
-
|
-
|
-
|
47,099
|
12/27/2017
|
7/30/2019
|
10.00
%
|
No
|
10,000
|
10,000
|
409
|
9,591
|
-
|
-
|
-
|
9,591
|
12/27/2017
|
7/30/2019
|
10.00
%
|
No
|
10,000
|
10,000
|
-
|
10,000
|
-
|
-
|
-
|
10,000
|
12/28/2017
|
7/30/2019
|
10.00
%
|
No
|
250,000
|
250,000
|
14,325
|
235,675
|
-
|
-
|
-
|
235,675
|
12/29/2017
|
7/30/2019
|
10.00
%
|
No
|
100,000
|
100,000
|
6,123
|
93,877
|
-
|
-
|
-
|
93,877
|
12/29/2017
|
7/30/2019
|
10.00
%
|
No
|
10,000
|
10,000
|
437
|
9,563
|
-
|
-
|
-
|
9,563
|
11/6/2017
|
** See
note below
|
10.00
%
|
No
|
646,568
|
623,068
|
-
|
623,068
|
623,068
|
-
|
-
|
-
|
1/2/2018
|
7/30/2019
|
10.00
%
|
No
|
25,000
|
25,000
|
1,211
|
23,789
|
-
|
-
|
-
|
23,789
|
1/2/2018
|
7/30/2019
|
10.00
%
|
No
|
20,000
|
20,000
|
929
|
19,071
|
-
|
-
|
-
|
19,071
|
1/9/2018
|
7/30/2019
|
10.00
%
|
No
|
50,000
|
50,000
|
-
|
50,000
|
-
|
-
|
-
|
50,000
|
1/9/2018
|
7/30/2019
|
10.00
%
|
No
|
50,000
|
50,000
|
-
|
50,000
|
-
|
-
|
-
|
50,000
|
1/11/2018
|
7/30/2019
|
10.00
%
|
No
|
10,000
|
10,000
|
378
|
9,622
|
-
|
-
|
-
|
9,622
|
1/12/2018
|
7/30/2019
|
10.00
%
|
No
|
10,000
|
10,000
|
378
|
9,622
|
-
|
-
|
-
|
9,622
|
1/16/2018
|
7/30/2019
|
10.00
%
|
No
|
50,000
|
50,000
|
2,669
|
47,331
|
-
|
-
|
-
|
47,331
|
1/16/2018
|
7/30/2019
|
10.00
%
|
No
|
10,000
|
10,000
|
377
|
9,623
|
-
|
-
|
-
|
9,623
|
1/16/2018
|
7/30/2019
|
10.00
%
|
No
|
20,000
|
20,000
|
1,129
|
18,871
|
-
|
-
|
-
|
18,871
|
1/30/2018
|
7/30/2019
|
10.00
%
|
No
|
25,000
|
25,000
|
2,438
|
22,562
|
-
|
-
|
-
|
22,562
|
2/14/2018
|
7/30/2019
|
10.00
%
|
No
|
50,000
|
50,000
|
2,671
|
47,329
|
-
|
-
|
-
|
47,329
|
2/16/2018
|
7/30/2019
|
10.00
%
|
No
|
19,156
|
19,156
|
986
|
18,170
|
-
|
-
|
-
|
18,170
|
2/19/2018
|
8/19/2018
|
8.00
%
|
No
|
121,111
|
121,111
|
8,042
|
113,069
|
-
|
-
|
113,069
|
-
|
2/23/2018
|
7/30/2019
|
10.00
%
|
No
|
10,000
|
10,000
|
348
|
9,652
|
-
|
-
|
-
|
9,652
|
2/27/2018
|
7/30/2019
|
10.00
%
|
No
|
10,000
|
10,000
|
-
|
10,000
|
-
|
-
|
-
|
10,000
|
2/28/2018
|
7/30/2019
|
10.00
%
|
No
|
50,000
|
50,000
|
2,376
|
47,624
|
-
|
-
|
-
|
47,624
|
3/7/2018
|
9/7/2018
|
8.00
%
|
No
|
83,333
|
83,333
|
5,375
|
77,958
|
-
|
-
|
77,958
|
-
|
3/9/2018
|
7/30/2019
|
10.00
%
|
No
|
25,000
|
25,000
|
949
|
24,051
|
-
|
-
|
-
|
24,051
|
3/30/2018
|
7/30/2019
|
10.00
%
|
No
|
10,000
|
10,000
|
-
|
10,000
|
-
|
-
|
-
|
10,000
|
4/2/2018
|
10/2/2018
|
8.00
%
|
No
|
111,111
|
111,111
|
9,817
|
101,294
|
|
|
101,294
|
|
4/16/2018
|
10/16/2018
|
8.00
%
|
No
|
111,111
|
111,111
|
11,279
|
99,832
|
|
|
99,832
|
|
4/23/2018
|
7/30/2019
|
10.00
%
|
No
|
25,000
|
25,000
|
1,386
|
23,614
|
|
|
|
23,614
|
5/2/2018
|
11/2/2018
|
8.00
%
|
No
|
55,556
|
55,556
|
6,492
|
49,064
|
|
|
49,064
|
|
5/24/2018
|
7/30/2019
|
10.00
%
|
No
|
20,000
|
20,000
|
823
|
19,177
|
|
|
|
19,177
|
5/24/2018
|
12/24/2018
|
12.00
%
|
No
|
281,250
|
281,250
|
47,280
|
233,970
|
|
|
233,970
|
|
Totals
|
|
|
$
8,114,746
|
$
6,245,006
|
$
134,864
|
$
6,110,142
|
$
3,626,948
|
$
-
|
$
1,312,285
|
$
1,170,909
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Number
of
|
Weighted
Average
|
Warrants
|
Warrants
|
Exercise
Price
|
Balance at December
31, 2017
|
134,000
|
$
0.27
|
Granted
|
184,073
|
0.28
|
Exercised
|
(34,000
)
|
0.27
|
Forfeited
|
-
|
|
Balance at June 30,
2018
|
284,073
|
$
0.21
|
Exhibit
Number*
|
|
Title of
Document
|
|
Location
|
|
|
|
|
|
Item 10
|
|
Material
Contracts
|
|
|
|
Securities Purchase
Agreement between Ocean Thermal Energy Corporation and Collier
Investments, LLC, dated May 22, 2018
|
|
Incorporated
by reference from current report on Form 8-K filed June 1,
2018.
|
|
|
|
|
|
|
|
Convertible Note
for $281,250 issued to Collier Investments, LLC, dated May 22,
2018
|
|
Incorporated
by reference from current report on Form 8-K filed June 1,
2018.
|
|
|
|
|
|
|
|
Security Agreement
between Ocean Thermal Energy Corporation and Collier Investments,
LLC, dated May 22, 2018
|
|
Incorporated
by reference from current report on Form 8-K filed June 1,
2018.
|
|
|
|
|
|
|
Item 31
|
|
Rule
13a-14(a)/15d-14(a) Certifications
|
|
|
|
Certification of
Principal Executive and Principal Financial Officer Pursuant to
Rule 13a-14
|
|
This
filing.
|
|
|
|
|
|
|
Item 32
|
|
Section
1350 Certifications
|
|
|
|
Certification of
Chief Executive Officer and Chief Financial Officer Pursuant to
18 U.S.C. Section 1350, as Adopted Pursuant to Section 906 of
the Sarbanes-Oxley Act of 2002
|
|
This
filing.
|
|
|
|
|
|
|
Item 101**
|
|
Interactive
Data File
|
|
|
101.INS
|
|
XBRL
Instance Document
|
|
This
filing.
|
|
|
|
|
|
101.SCH
|
|
XBRL
Taxonomy Extension Schema
|
|
This
filing.
|
|
|
|
|
|
101.CAL
|
|
XBRL
Taxonomy Extension Calculation Linkbase
|
|
This
filing.
|
|
|
|
|
|
101.DEF
|
|
XBRL
Taxonomy Extension Definition Linkbase
|
|
This
filing.
|
|
|
|
|
|
101.LAB
|
|
XBRL
Taxonomy Extension Label Linkbase
|
|
This
filing.
|
|
|
|
|
|
101.PRE
|
|
XBRL
Taxonomy Extension Presentation Linkbase
|
|
This
filing.
|
*All
exhibits are numbered with the number preceding the decimal
indicating the applicable SEC reference number in Item 601 and the
number following the decimal indicating the sequence of the
particular document. Omitted numbers in the sequence refer to
documents previously filed as an exhibit.
|
**The
XBRL related information in Exhibit 101 shall not be deemed
“filed” for purposes of Section 18 of the Securities
Exchange Act of 1934, as amended, or otherwise subject to liability
of that section and shall not be incorporated by reference into any
filing or other document pursuant to the Securities Act of 1933, as
amended, except as shall be expressly set forth by specific
reference in such filing or document.
|
|
OCEAN
THERMAL ENERGY CORPORATION
|
|
|
|
|
Date:
August 13, 2018
|
By:
|
/s/
Jeremy P. Feakins
|
|
|
Jeremy
P. Feakins
|
|
|
Chief
Executive Officer and
|
|
|
Chief
Financial Officer (Principal Executive and Financial
Officer)
|
1 Year Ocean Thermal Energy (CE) Chart |
1 Month Ocean Thermal Energy (CE) Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions