secwatch.observer — SEC 8-K summary
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Issuer:     Ocean Thermal Energy Corp (CPWR)
CIK:        0000827099
Form:       8-K
Filed at:   2022-08-29T23:59:59+00:00
Accession:  0001654954-22-011911
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.70
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Ocean Thermal Energy Corporation sells subsidiary OCEES International to entity controlled by CEO Jeremy Feakins
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- Sale of OCEES International, Inc. to Epaphus Global Energy LLC, controlled by CEO Jeremy Feakins, for $1,000,000 in cancelled debt and $75,000/month for 12 months.
- Additional consideration includes 70% of net profit from any ocean thermal energy conversion project undertaken by OCEES.
- Epaphus has a unilateral right to return the subsidiary shares within one year for a full refund of the purchase price.
- Transaction approved unanimously by disinterested directors of Ocean Thermal Energy Corporation.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/827099/000165495422011911/0001654954-22-011911-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/827099/000165495422011911/cpwr_8k.htm
  HTML page:      https://secwatch.observer/filing/0001654954-22-011911

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