Docoh
Loading...

CPWR Ocean Thermal Energy

Ocean Thermal Energy Corp. is a project developer in the renewable electricity and potable water business. The company designs Ocean Thermal Electrical Conversion (OTEC) power plants and Seawater Air Conditioning (SWAC) plants. These technologies provide clean drinking water, plentiful food, and sustainable, affordable energy. OTEC plants leverage the temperature difference in the ocean between cold deep water and warm surface water in the tropics and subtropics to generate unlimited energy without the use of fossil fuels. Some of the seawater running through the plants can be desalinated, producing thousands of cubic meters of fresh water daily for agriculture and human consumption. The cold, nutrient-rich seawater can be used to cool buildings for fish farming and aquaculture. SWAC systems produce air conditioning without the use of chemical agents. This technology uses less fresh water and reduces environmental impact when compared to traditional air conditioning methods. The company was founded on October 18, 2010 and is headquartered in Lancaster, PA.

Company profile

Ticker
CPWR
Exchange
CEO
Jeremy P. Feakins
Employees
Incorporated
Location
Fiscal year end
Former names
CREATIVE VENDING CORP, TETRIDYN SOLUTIONS INC
SEC CIK

CPWR stock data

(
)

Investment data

Data from SEC filings
Securities sold
Number of investors

Calendar

13 May 21
24 Jun 21
31 Dec 21
Quarter (USD)
Mar 21 Dec 20 Sep 20 Jun 20
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD)
Dec 20 Dec 19 Dec 18 Dec 17
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Financial data from company earnings reports.

Cash burn rate (estimated) Burn method: Change in cash Burn method: Operating income/loss Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 77.22K 77.22K 77.22K 77.22K 77.22K 77.22K
Cash burn (monthly) (positive/no burn) (positive/no burn) 477.7K 451.45K 38.79K 59.7K
Cash used (since last report) n/a n/a 1.33M 1.26M 108.07K 166.32K
Cash remaining n/a n/a -1.25M -1.18M -30.84K -89.09K
Runway (months of cash) n/a n/a -2.6 -2.6 -0.8 -1.5

Beta Read what these cash burn values mean

Data for the last complete 13F reporting period. To see the most recent changes to ownership, click the ownership history button above.

0.1% owned by funds/institutions
13F holders
Current Prev Q Change
Total holders 1 1
Opened positions 0 0
Closed positions 0 0
Increased positions 0 0
Reduced positions 0 0
13F shares
Current Prev Q Change
Total value 3K 4K -25.0%
Total shares 92.91K 92.91K
Total puts 0 0
Total calls 0 0
Total put/call ratio
Largest owners
Shares Value Change
ONB Old National Bancorp 92.91K $3K 0.0%
Largest transactions
Shares Bought/sold Change
ONB Old National Bancorp 92.91K 0 0.0%

Financial report summary

?
Risks
  • The auditors’ report for the years ended December 31, 2020 and 2019, contains an explanatory paragraph about our ability to continue as a going concern.
  • We have no current project that will generate revenues in the near future.
  • We will require substantial amounts of additional capital from external sources.
  • Our efforts to develop OTEC and SWAC/LWAC plants are subject to many financial, technical, managerial, and sales risks that may make us unsuccessful.
  • We are dependent on the performance of counterparties to our agreements.
  • Ongoing world economic, currency-exchange, energy-price, contagious disease, and political circumstances adversely affect our project development activities.
  • We require substantial amounts of capital for all phases of our proposed activities.
  • We are reliant on our key executives and personnel.
  • Our projects will be subject to substantial regulations and policies governing energy projects, power generation, desalinated water sales, and other aspects of our OTEC and SWAC/LWAC plants, which may adversely affect our ability to develop projects, and any changes in the applicable regulatory schemes may adversely affect projects that we are constructing or have constructed and are operating.
  • The financial model for our proposed projects has not been tested and may not be successful.
  • We may be exposed to political and legal risks in the developing or emerging markets in which we propose to locate plants.
  • We are subject to changing attitudes about environmental risks.
  • We may be unable to find land suitable for our projects.
  • We have a limited number of suppliers for certain materials, which could increase our costs or delay completion of projects.
  • There may be greater cost in building OTEC plants that generate over 10 MWs of electricity.
  • Technological advances may render our technologies, products, and services obsolete.
  • We may not successfully manage growth.
  • There will likely be a single or limited number of power purchasers from each plant, so we will be dependent on their economic viability and stability and continued operations.
  • Operational problems, natural events or catastrophes, casualty loss, or other events may impair the commercial operation of our projects.
  • We may be adversely affected by climate change.
  • Insurance to cover anticipated risks may become more expensive.
  • Certain risks of loss arise from our need to conduct transactions in foreign currencies.
  • Foreign governmental entities may have the authority to alter the terms of our rights or agreements if we do not comply with the terms and obligations indicated in such agreements.
  • Our operations will require our compliance with the Foreign Corrupt Practices Act.
  • Our competitors may not be subject to laws similar to the FCPA, which may give them an advantage in negotiating with underdeveloped countries and the government agencies.
  • We may encounter difficulties repatriating income from foreign jurisdictions.
  • Our common stock is thinly traded, and there is no guarantee of the prices at which the shares will trade.
  • We have never paid dividends on our common stock and we do not anticipate paying any dividends in the foreseeable future.
  • Because our common stock is a “penny stock,” it may be difficult to sell shares of our common stock at times and prices that are acceptable.
  • Investors may lose confidence in the accuracy and completeness of our financial reports and the market price of our common stock may be negatively affected.
Management Discussion
  • We had no revenue in the three months ended March 31, 2021 and 2020.
  • During the three months ended March 31, 2021, we had salaries and wages of $194,343, compared to salaries and wages of $217,028 during the same three-month period for 2020, a decrease of 10.5%, which attributed to management’s focus on reducing expenses.
  • During the three months ended March 31, 2021 and 2020, we recorded professional fees of $357,057 and $119,237, respectively, an increase of 199.4%. During the first quarter of 2021, our legal fees were higher due to the continuing Memphis litigation issues.
Content analysis
?
Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability
8th grade Good
New words: announced, Biden, deadline, disinterested, foregoing, gain, historical, initial, ratified, Regulation
Removed: accept, accountant, Additionally, administered, adverse, adversely, affiliate, Aid, applied, arranged, CDC, choose, cleaning, closed, commencing, consecutive, consummate, covered, Craft, daily, decreasing, delay, delayed, deliver, delivered, delivering, depreciable, disbursement, dispose, disruption, distancing, entitling, equipment, essential, established, exceed, execute, execution, expenditure, experience, extent, finally, forgiven, Governor, leave, led, LinkBank, located, marketplace, maximum, mitigate, month, monthly, moved, nonrecourse, notice, notify, obligation, occupancy, opening, OTCQB, partially, Paycheck, permitted, person, physical, PPP, prepayment, Program, Protection, put, ranging, recent, reduced, reject, Relief, reopening, reprice, reset, Resort, restrictive, safety, scheduled, social, spread, statewide, successful, SWAC, team, telework, termination, traded, transferred, updating, usage, written