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Ocean Thermal Energy Corp
3675 Market Street, Suite 200
Phone: (717) 299-1344p:717 299-1344 PHILADELPHIA, PA  19104  United States Ticker: TDYS TDYS
On 5/3/2024, the Securities and Exchange Commission (SEC) charged BF Borgers CPA PC and its owner, Benjamin F. Borgers, with significant violations of Public Company Accounting Oversight Board (PCAOB) standards across more than 1,500 SEC filings from January 2021 to June 2023. The charges included falsely representing compliance with PCAOB standards to clients, fabricating audit documentation, and inaccurately stating compliance in audit reports. According to the SEC's order, of 369 BF Borgers' clients whose public filings from January 2021 through June 2023 incorporated the firm's audits and reviews, at least 75 percent of the filings incorporated audits and reviews that did not comply with PCAOB standards. The financials in this report may include past audits and reviews conducted by BF Borgers CPA PC that are deemed not compliant with PCAOB standards.
Business Summary
Ocean Thermal Energy Corporation uses its proprietary technology to develop designs for renewable energy systems, primarily for Ocean Thermal Energy Conversion (OTEC), Seawater Air Conditioning (SWAC), and Lake Source Cooling (LSC) systems. The Company's geographical markets are tropical and subtropical regions of the world for OTEC, SWAC, and LSC and worldwide markets for SWAC and LSC. It develops projects for renewable power generation, desalinated water production, and air conditioning using its proprietary technologies designed to extract energy from the temperature differences between warm surface water and cold deep water. In addition, the Company's projects provide ancillary products such as potable/bottled water and aquaculture, mariculture, and agriculture opportunities. SWAC//LSC is a process that uses cold water from locations such as the ocean or deep lakes to provide the cooling capacity to replace traditional electrical chillers in an air conditioning system.

Scores and Ratings
FRISK®
Score		 Z''
Score		 PAYCE®
Score		 DBT
Index		 Moody's
Rating		 Fitch
Rating		 DBRS
Rating
-Yes-----

Financials, News and Filings
Latest
Statement		 Last
Audit
News		 SEC
Filings		 Bankruptcy
Filings		 Suit &
Judgment
Filings		 Tax
Lien
Filings
12/31/202312/31/2023YesYes-Yes-

Industries
SIC Code Description
7372 Prepackaged software
1623 Water, sewer, pipeline, and communications and power line construction
6770 Blank checks

Officers and Directors

Title
Name
Age		 Title
Date		 Start
Date
Chief Operations Officer BobGriffin 2/5/2018 2/5/2018
Director Jeremy P.Feakins 61 3/23/2015 3/23/2015
Director Antoinette R.Hempstead 2/24/2017 2/24/2017
Director Peter H.Wolfson 3/23/2015 3/23/2015

Business Names
Business Name
CPWR
JPF Venture Group, Inc.
Ocean Thermal Energy Bahamas Ltd.
12 additional Business Names available in full report.

General Information
Number of Employees: 2 (As of 12/31/2023)
Outstanding Shares: 184,370,469 (As of 3/25/2024)
Shareholders: 1,470
Stock Exchange: OTC
Federal Tax Id: 650008012
Fax Number: (208) 232-4236


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Tuesday, December 3, 2024