2023 Q2 Form 10-K Financial Statement

#000121390023030192 Filed on April 17, 2023

View on sec.gov

Income Statement

Concept 2023 Q2 2022 Q4 2022
Revenue $1.831M $2.608M $10.38M
YoY Change -42.21% 101.35% 150.42%
Cost Of Revenue $1.635M $2.397M $8.881M
YoY Change -34.12% 79.31% 148.49%
Gross Profit $195.2K $211.4K $1.495M
YoY Change -71.52% -611.62% 162.48%
Gross Profit Margin 10.66% 8.1% 14.41%
Selling, General & Admin $1.647M $2.461M $7.187M
YoY Change 17.52% 67.72% 11.35%
% of Gross Profit 843.78% 1164.34% 480.63%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $7.600K $8.510K $39.96K
YoY Change -27.69% -21.13% -10.85%
% of Gross Profit 3.89% 4.03% 2.67%
Operating Expenses $1.655M $2.470M $8.078M
YoY Change 17.18% 67.07%
Operating Profit -$1.459M -$2.259M -$6.583M
YoY Change 100.88% 48.62% -1255.51%
Interest Expense $494.8K $25.86M $948.2K
YoY Change 113.11% 166.07% -79.7%
% of Operating Profit
Other Income/Expense, Net -$6.225M $352.8K -$4.208M
YoY Change 1054.45% -85282.17%
Pretax Income -$7.685M $23.10M $2.266M
YoY Change 507.13% 180.17% -207.0%
Income Tax
% Of Pretax Income
Net Earnings -$7.685M $23.10M -$10.79M
YoY Change 507.13% 180.17% 409.53%
Net Earnings / Revenue -419.78% 885.72% -103.99%
Basic Earnings Per Share -$0.01 -$0.02
Diluted Earnings Per Share -$0.01 $0.02 -$0.02
COMMON SHARES
Basic Shares Outstanding 1.119B shares 936.4M shares 679.0M shares
Diluted Shares Outstanding 1.195B shares 679.0M shares

Balance Sheet

Concept 2023 Q2 2022 Q4 2022
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.403M $663.2K $663.2K
YoY Change 99.72% 94.85% 94.85%
Cash & Equivalents $1.380M $1.355M
Short-Term Investments $22.60K $27.13K $27.13K
Other Short-Term Assets $6.000M $1.479M $743.8K
YoY Change 443.52% 290.44% 28.66%
Inventory $0.00 $0.00
Prepaid Expenses $10.77K $25.00K
Receivables $1.418M $2.479M $3.959M
Other Receivables $27.69K $0.00 $0.00
Total Short-Term Assets $3.949M $5.366M $5.366M
YoY Change -7.99% 55.47% 55.47%
LONG-TERM ASSETS
Property, Plant & Equipment $161.6K $177.1K $177.1K
YoY Change -15.88% -17.02% -17.02%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $2.400K $2.400K $2.400K
YoY Change -60.0% -86.36% -86.36%
Other Assets $569.6K $800.0K $800.0K
YoY Change 10.81% 55.64% 55.64%
Total Long-Term Assets $738.1K $983.9K $983.9K
YoY Change 2.99% 31.29% 31.29%
TOTAL ASSETS
Total Short-Term Assets $3.949M $5.366M $5.366M
Total Long-Term Assets $738.1K $983.9K $983.9K
Total Assets $4.687M $6.349M $6.349M
YoY Change -6.42% 51.15% 51.15%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.263M $3.785M $3.785M
YoY Change 4.64% 160.62% 160.62%
Accrued Expenses $1.959M $1.634M $1.634M
YoY Change 25.03% 6.55% 6.55%
Deferred Revenue $723.9K $932.5K
YoY Change -50.58%
Short-Term Debt $380.2K $180.4K $180.4K
YoY Change 110.44% -21.77% -21.77%
Long-Term Debt Due $15.35M $2.385M $2.385M
YoY Change 1641.04% -21.12% -21.12%
Total Short-Term Liabilities $28.48M $19.61M $19.09M
YoY Change 82.95% 20.48% 25.81%
LONG-TERM LIABILITIES
Long-Term Debt $213.8K $1.889M $1.889M
YoY Change -89.98% 2932.71% 2932.71%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $213.8K $1.889M $1.889M
YoY Change -89.98% 2932.95% 2932.71%
TOTAL LIABILITIES
Total Short-Term Liabilities $28.48M $19.61M $19.09M
Total Long-Term Liabilities $213.8K $1.889M $1.889M
Total Liabilities $28.69M $21.50M $20.98M
YoY Change 62.1% 31.58% 37.69%
SHAREHOLDERS EQUITY
Retained Earnings -$118.9M -$109.0M
YoY Change 15.37% 10.99%
Common Stock $86.27M $82.85M
YoY Change 10.54% 9.37%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$32.48M -$26.02M -$14.63M
YoY Change
Total Liabilities & Shareholders Equity $4.687M $6.349M $6.349M
YoY Change -6.42% 51.15% 51.15%

Cashflow Statement

Concept 2023 Q2 2022 Q4 2022
OPERATING ACTIVITIES
Net Income -$7.685M $23.10M -$10.79M
YoY Change 507.13% 180.17% 409.53%
Depreciation, Depletion And Amortization $7.600K $8.510K $39.96K
YoY Change -27.69% -21.13% -10.85%
Cash From Operating Activities -$1.283M -$1.190M -$4.648M
YoY Change -18.74% -7.23% -4.02%
INVESTING ACTIVITIES
Capital Expenditures $4.500K $4.500K $21.64K
YoY Change -200.0% -200.0% -220.22%
Acquisitions
YoY Change
Other Investing Activities -$762.6K -$1.137M -$1.137M
YoY Change
Cash From Investing Activities -$767.1K -$1.142M -$1.159M
YoY Change 16947.56% 25272.44% 6338.36%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net -$10.50K
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 2.528M 1.911M $6.456M
YoY Change 76.73% 33.13% 25.32%
NET CHANGE
Cash From Operating Activities -1.283M -1.190M -$4.648M
Cash From Investing Activities -767.1K -1.142M -$1.159M
Cash From Financing Activities 2.528M 1.911M $6.456M
Net Change In Cash 477.4K -421.4K $648.4K
YoY Change -411.34% -385.53% 123.35%
FREE CASH FLOW
Cash From Operating Activities -$1.283M -$1.190M -$4.648M
Capital Expenditures $4.500K $4.500K $21.64K
Free Cash Flow -$1.288M -$1.195M -$4.670M
YoY Change -18.22% -6.55% -3.21%

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522757 usd
CY2021 ocln Common Stock Issued For Conversion Of Series O Preferred Stock
CommonStockIssuedForConversionOfSeriesOPreferredStock
1260000 usd
CY2021 ocln Common Stock Issued For Conversion Of Series P Preferred Stock
CommonStockIssuedForConversionOfSeriesPPreferredStock
299000 usd
CY2021 ocln Common Stock Issued For Conversion Of Series Q Preferred Stock
CommonStockIssuedForConversionOfSeriesQPreferredStock
525000 usd
CY2021 ocln Common Stock Issued For Conversion Of Series R Preferred Stock
CommonStockIssuedForConversionOfSeriesRPreferredStock
1932650 usd
CY2021 ocln Common Stock Issued For Conversion Of Series S Preferred Stock
CommonStockIssuedForConversionOfSeriesSPreferredStock
195000 usd
CY2021 ocln Common Stock Issued For Conversion Of Series U Preferred Stock
CommonStockIssuedForConversionOfSeriesUPreferredStock
495000 usd
CY2021 ocln Common Stock Issued For Conversion Of Series W Preferred Stock
CommonStockIssuedForConversionOfSeriesWPreferredStock
258500 usd
CY2021 ocln Warrants Purchased For Cash
WarrantsPurchasedForCash
50000 usd
CY2021 ocln Loss On Issuance Of Preferred Stock
LossOnIssuanceOfPreferredStock
125000 usd
CY2021 ocln Loss On Conversion Of Preferred Stock
LossOnConversionOfPreferredStock
1239250 usd
CY2021 us-gaap Adjustments To Additional Paid In Capital Other
AdjustmentsToAdditionalPaidInCapitalOther
-500 usd
CY2021 ocln Adjustmentsto Additional Paidin Capital Otherone
AdjustmentstoAdditionalPaidinCapitalOtherone
750 usd
CY2021 ocln Stock Based Compensation
StockBasedCompensation
112403 usd
CY2021 us-gaap Net Income Loss
NetIncomeLoss
-2117781 usd
CY2021Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
-22321917 usd
CY2021Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
-22321917 usd
CY2022 ocln Stock Issuedduring Period Debt Conversion Converted Instrument Amount1
StockIssuedduringPeriodDebtConversionConvertedInstrumentAmount1
270546 usd
CY2022 ocln Stock Issued During Period Value Issued Fair Valuefor Services
StockIssuedDuringPeriodValueIssuedFairValueforServices
1433828 usd
CY2022 ocln Common Stock Issued For Conversion Of Series J Preferred Stock
CommonStockIssuedForConversionOfSeriesJPreferredStock
5000 usd
CY2022 ocln Common Stock Issued For Conversion Of Series L Preferred Stock
CommonStockIssuedForConversionOfSeriesLPreferredStock
284080 usd
CY2022 ocln Common Stock Issued For Conversion Of Series O Preferred Stock
CommonStockIssuedForConversionOfSeriesOPreferredStock
385000 usd
CY2022 ocln Common Stock Issued For Conversion Of Series P Preferred Stock
CommonStockIssuedForConversionOfSeriesPPreferredStock
27500 usd
CY2022 ocln Common Stock Issued For Conversion Of Series Q Preferred Stock
CommonStockIssuedForConversionOfSeriesQPreferredStock
100000 usd
CY2022 ocln Common Stock Issued For Conversion Of Series R Preferred Stock
CommonStockIssuedForConversionOfSeriesRPreferredStock
604267 usd
CY2022 ocln Common Stock Issued For Conversion Of Series T Preferred Stock
CommonStockIssuedForConversionOfSeriesTPreferredStock
630000 usd
CY2022 ocln Common Stock Issued For Conversion Of Series U Preferred Stock
CommonStockIssuedForConversionOfSeriesUPreferredStock
681500 usd
CY2022 ocln Common Stock Issued For Conversion Of Series W Preferred Stock
CommonStockIssuedForConversionOfSeriesWPreferredStock
245000 usd
CY2022 ocln Common Stock Issued For Conversion Of Series Y Preferred Stock1
CommonStockIssuedForConversionOfSeriesYPreferredStock1
2000000 usd
CY2022 ocln Common Stock Returned For Non Conversion
CommonStockReturnedForNonConversion
-5250 usd
CY2022 ocln Loss On Conversion Of Preferred Stock
LossOnConversionOfPreferredStock
434380 usd
CY2022 us-gaap Net Income Loss
NetIncomeLoss
-10790721 usd
CY2022Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
-26016787 usd
CY2022 us-gaap Net Income Loss
NetIncomeLoss
-10790721 usd
CY2021 us-gaap Net Income Loss
NetIncomeLoss
-2117781 usd
CY2022 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
39959 usd
CY2021 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
44817 usd
CY2021 us-gaap Deferred Compensation Arrangement With Individual Compensation Expense
DeferredCompensationArrangementWithIndividualCompensationExpense
112403 usd
CY2021 us-gaap Payments For Proceeds From Loans Receivable
PaymentsForProceedsFromLoansReceivable
149867 usd
CY2022 ocln Payments Of Preferred Stock Dividends
PaymentsOfPreferredStockDividends
-1433828 usd
CY2021 ocln Payments Of Preferred Stock Dividends
PaymentsOfPreferredStockDividends
-2229695 usd
CY2022 ocln Gain Loss On Net Change In Valuation Of Derivative Liabilities
GainLossOnNetChangeInValuationOfDerivativeLiabilities
-3052775 usd
CY2021 ocln Gain Loss On Net Change In Valuation Of Derivative Liabilities
GainLossOnNetChangeInValuationOfDerivativeLiabilities
5838830 usd
CY2022 ocln Debt Discount Recognized As Interest Expense
DebtDiscountRecognizedAsInterestExpense
3743 usd
CY2021 ocln Debt Discount Recognized As Interest Expense
DebtDiscountRecognizedAsInterestExpense
68839 usd
CY2022 us-gaap Unrealized Gain Loss On Investments
UnrealizedGainLossOnInvestments
-186993 usd
CY2021 us-gaap Unrealized Gain Loss On Investments
UnrealizedGainLossOnInvestments
58651 usd
CY2021 ocln Loss On Exchange Of Preferred Stock
LossOnExchangeOfPreferredStock
40000 usd
CY2021 us-gaap Issuance Of Stock And Warrants For Services Or Claims
IssuanceOfStockAndWarrantsForServicesOrClaims
125000 usd
CY2021 ocln Sba Loan Forgiven
SBALoanForgiven
-355000 usd
CY2022 us-gaap Loss On Sale Of Investments
LossOnSaleOfInvestments
114000 usd
CY2021 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-39617 usd
CY2021 us-gaap Loss On Sale Of Investments
LossOnSaleOfInvestments
116000 usd
CY2022 ocln Gain Loss On Conversion Of Preferred Stock
GainLossOnConversionOfPreferredStock
-434380 usd
CY2021 ocln Gain Loss On Conversion Of Preferred Stock
GainLossOnConversionOfPreferredStock
-1239250 usd
CY2022 us-gaap Gains Losses On Extinguishment Of Debt Before Write Off Of Deferred Debt Issuance Cost
GainsLossesOnExtinguishmentOfDebtBeforeWriteOffOfDeferredDebtIssuanceCost
50000 usd
CY2021 us-gaap Gains Losses On Extinguishment Of Debt Before Write Off Of Deferred Debt Issuance Cost
GainsLossesOnExtinguishmentOfDebtBeforeWriteOffOfDeferredDebtIssuanceCost
152233 usd
CY2022 us-gaap Other Asset Impairment Charges
OtherAssetImpairmentCharges
737267 usd
CY2022 ocln Increase Decrease In Contract Receivable Net
IncreaseDecreaseInContractReceivableNet
328156 usd
CY2021 ocln Increase Decrease In Contract Receivable Net
IncreaseDecreaseInContractReceivableNet
1712537 usd
CY2022 us-gaap Increase Decrease In Other Current Assets
IncreaseDecreaseInOtherCurrentAssets
1100559 usd
CY2021 us-gaap Increase Decrease In Other Current Assets
IncreaseDecreaseInOtherCurrentAssets
230198 usd
CY2022 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
-2850 usd
CY2021 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
2850 usd
CY2022 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
11889 usd
CY2021 us-gaap Increase Decrease In Other Receivables
IncreaseDecreaseInOtherReceivables
-3797 usd
CY2022 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
2350309 usd
CY2021 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
160406 usd
CY2022 us-gaap Increase Decrease In Other Accrued Liabilities
IncreaseDecreaseInOtherAccruedLiabilities
215744 usd
CY2021 us-gaap Increase Decrease In Other Accrued Liabilities
IncreaseDecreaseInOtherAccruedLiabilities
48598 usd
CY2022 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
15600 usd
CY2022 us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
-954488 usd
CY2021 us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
1546395 usd
CY2022 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-4648365 usd
CY2021 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-4843130 usd
CY2022 ocln Purchase Of Class B Common Shares In Spac
PurchaseOfClassBCommonSharesInSPAC
400000 usd
CY2022 ocln Purchase Of Spac Notes Payables
PurchaseOfSPACNotesPayables
737267 usd
CY2022 us-gaap Payments To Acquire Other Productive Assets
PaymentsToAcquireOtherProductiveAssets
21637 usd
CY2021 us-gaap Payments To Acquire Other Productive Assets
PaymentsToAcquireOtherProductiveAssets
18000 usd
CY2022 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-1158904 usd
CY2021 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-18000 usd
CY2022 us-gaap Repayments Of Debt And Capital Lease Obligations
RepaymentsOfDebtAndCapitalLeaseObligations
7985 usd
CY2021 us-gaap Repayments Of Debt And Capital Lease Obligations
RepaymentsOfDebtAndCapitalLeaseObligations
9088 usd
CY2021 us-gaap Proceeds From Repayments Of Related Party Debt
ProceedsFromRepaymentsOfRelatedPartyDebt
-105000 usd
CY2021 us-gaap Repayments Of Related Party Debt
RepaymentsOfRelatedPartyDebt
94883 usd
CY2021 us-gaap Proceeds From Issuance Of Preferred Stock And Preference Stock
ProceedsFromIssuanceOfPreferredStockAndPreferenceStock
-25000 usd
CY2022 ocln Payments On Cumulative Preferred Stock Dividends
PaymentsOnCumulativePreferredStockDividends
-58870 usd
CY2021 ocln Payments On Cumulative Preferred Stock Dividends
PaymentsOnCumulativePreferredStockDividends
-100454 usd
CY2021 us-gaap Proceeds From Issuance Of Debt
ProceedsFromIssuanceOfDebt
60000 usd
CY2021 us-gaap Proceeds From Convertible Debt
ProceedsFromConvertibleDebt
-15228 usd
CY2021 us-gaap Proceeds From Issuance Of Warrants
ProceedsFromIssuanceOfWarrants
50000 usd
CY2022 us-gaap Proceeds From Issuance Of Other Long Term Debt
ProceedsFromIssuanceOfOtherLongTermDebt
1347500 usd
CY2022 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
-10500 usd
CY2022 ocln Net Proceeds For Issuance Of Preferred Stock For Cash Liability Classification
NetProceedsForIssuanceOfPreferredStockForCashLiabilityClassification
5067777 usd
CY2021 ocln Net Proceeds For Issuance Of Preferred Stock For Cash Liability Classification
NetProceedsForIssuanceOfPreferredStockForCashLiabilityClassification
5190175 usd
CY2022 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
6455662 usd
CY2021 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
5151430 usd
CY2022 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
648393 usd
CY2021 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
290300 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
706421 usd
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
416121 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
1354814 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
706421 usd
CY2022 us-gaap Interest Paid Net
InterestPaidNet
951531 usd
CY2021 us-gaap Interest Paid Net
InterestPaidNet
828638 usd
CY2022 ocln Common Stock Issued At Fair Value For Conversion Of Debt Plus Accrued Interest And Other Fees
CommonStockIssuedAtFairValueForConversionOfDebtPlusAccruedInterestAndOtherFees
270546 usd
CY2021 ocln Common Stock Issued At Fair Value For Conversion Of Debt Plus Accrued Interest And Other Fees
CommonStockIssuedAtFairValueForConversionOfDebtPlusAccruedInterestAndOtherFees
133705 usd
CY2021 ocln Issuance Of Series T Preferred Shares In Exchange For Property
IssuanceOfSeriesTPreferredSharesInExchangeForProperty
630000 usd
CY2022 ocln Issuance Of Series O Dividends
IssuanceOfSeriesODividends
126 usd
CY2021 ocln Issuance Of Series O Dividends
IssuanceOfSeriesODividends
79 usd
CY2022 ocln Preferred Stock Converted To Common Stock Equity
PreferredStockConvertedToCommonStockEquity
4962347 usd
CY2021 ocln Preferred Stock Converted To Common Stock Equity
PreferredStockConvertedToCommonStockEquity
5545409 usd
CY2022 ocln Exchange From Mezzanine To Liability
ExchangeFromMezzanineToLiability
520000 usd
CY2021 ocln Exchange From Mezzanine To Liability
ExchangeFromMezzanineToLiability
3537167 usd
CY2021 ocln Issuance Of Warrants Deemed Dividends
IssuanceOfWarrantsDeemedDividends
2037849 usd
CY2021 ocln Derivative Discount Issued On Notes Payable
DerivativeDiscountIssuedOnNotesPayable
54652 usd
CY2022 us-gaap Stock Issued1
StockIssued1
17909 usd
CY2022 ocln Conversion Of Preferred Stock To Common Stock
ConversionOfPreferredStockToCommonStock
154 usd
CY2022Q4 us-gaap Derivative Fixed Interest Rate
DerivativeFixedInterestRate
1 pure
CY2022Q4 us-gaap Excess Stock Shares Issued
ExcessStockSharesIssued
2443750 shares
CY2023Q1 us-gaap Deposit Liability Uninsured
DepositLiabilityUninsured
977500 usd
CY2023Q1 us-gaap Shares Issued Price Per Share
SharesIssuedPricePerShare
0.1
CY2022 us-gaap Stock Issued During Period Value Purchase Of Assets
StockIssuedDuringPeriodValuePurchaseOfAssets
10376573 usd
CY2022 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><span style="text-decoration:underline">Concentration Risk</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">Cash includes amounts deposited in financial institutions in excess of insurable Federal Deposit Insurance Company (FDIC) limits. At times throughout the year, the Company may maintain cash balances in certain bank accounts in excess of FDIC limits. As of December 31, 2022, the cash balance in excess of the FDIC limits was $1,104,814. The Company has not experienced any losses in such accounts and believes it is not exposed to any significant credit risk in these accounts.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">  </p>
CY2022Q4 us-gaap Fdic Indemnification Asset
FDICIndemnificationAsset
1104814 usd
CY2022 us-gaap Use Of Estimates
UseOfEstimates
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><span style="text-decoration:underline">Use of Estimates</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Significant estimates include estimates used to review the Company’s impairments and estimations of long-lived assets, revenue recognition on percentage of completion type contracts, allowances for uncollectible accounts, warranty reserves, inventory valuation, derivative liabilities and other conversion features, fair value investments, valuations of non-cash capital stock issuances and the valuation allowance on deferred tax assets. The Company bases its estimates on historical experience and on various other assumptions that are believed to be reasonable in the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. Actual results may differ from these estimates under different assumptions or conditions.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"> </p>
CY2022 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
usd
CY2022 us-gaap Net Income Loss From Discontinued Operations Available To Common Shareholders Basic
NetIncomeLossFromDiscontinuedOperationsAvailableToCommonShareholdersBasic
-10790721 usd
CY2021 us-gaap Net Income Loss From Discontinued Operations Available To Common Shareholders Basic
NetIncomeLossFromDiscontinuedOperationsAvailableToCommonShareholdersBasic
-4155630 usd
CY2022 ocln Basic Weighted Average Number Of Common Shares Outstanding Denominator
BasicWeightedAverageNumberOfCommonSharesOutstandingDenominator
679049314 shares
CY2021 ocln Basic Weighted Average Number Of Common Shares Outstanding Denominator
BasicWeightedAverageNumberOfCommonSharesOutstandingDenominator
180500778 shares
CY2022 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
1565960918 shares
CY2021 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
180500778 shares
CY2022Q4 us-gaap Accounts Receivable Gross
AccountsReceivableGross
2479123 usd
CY2021Q4 us-gaap Accounts Receivable Gross
AccountsReceivableGross
2150967 usd
CY2021Q4 us-gaap Fair Value Net Asset Liability
FairValueNetAssetLiability
216518 usd
CY2022Q4 us-gaap Prepaid Expense Current And Noncurrent
PrepaidExpenseCurrentAndNoncurrent
25000 usd
CY2021Q4 us-gaap Prepaid Expense Current And Noncurrent
PrepaidExpenseCurrentAndNoncurrent
13111 usd
CY2022 us-gaap Advertising Expense
AdvertisingExpense
206285 usd
CY2021 us-gaap Advertising Expense
AdvertisingExpense
184017 usd
CY2022Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
607012 usd
CY2021Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
603373 usd
CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
429943 usd
CY2021Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
389982 usd
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
177069 usd
CY2021Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
213391 usd
CY2022 us-gaap Depreciation
Depreciation
39959 usd
CY2021 us-gaap Depreciation
Depreciation
44817 usd
CY2021Q1 us-gaap Indefinite Lived International Slots And Routes
IndefiniteLivedInternationalSlotsAndRoutes
630000 usd
CY2021Q1 us-gaap Real Estate Investment Property At Cost
RealEstateInvestmentPropertyAtCost
580000 usd
CY2021Q1 us-gaap Land Available For Development
LandAvailableForDevelopment
50000 usd
CY2021Q1 ocln Real Property Share
RealPropertyShare
630 shares
CY2021Q1 us-gaap Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
630000 usd
CY2021 us-gaap Asset Impairment Charges
AssetImpairmentCharges
116000 usd
CY2022 us-gaap Asset Impairment Charges
AssetImpairmentCharges
114000 usd
CY2022 us-gaap Derivative Term Of Contract
DerivativeTermOfContract
P12M
CY2022Q4 us-gaap Fair Value Net Asset Liability
FairValueNetAssetLiability
29525 usd
CY2022Q4 us-gaap Derivative Assets Liabilities At Fair Value Net
DerivativeAssetsLiabilitiesAtFairValueNet
9578904 usd
CY2021Q4 us-gaap Derivative Assets Liabilities At Fair Value Net
DerivativeAssetsLiabilitiesAtFairValueNet
6526129 usd
CY2022Q4 us-gaap Derivative Instruments And Hedges Liabilities Noncurrent
DerivativeInstrumentsAndHedgesLiabilitiesNoncurrent
8112220 usd
CY2022Q4 ocln Derivative Outstanding On Derivative
DerivativeOutstandingOnDerivative
1466684 usd
CY2022Q4 us-gaap Capital Units Total Cost To Investors
CapitalUnitsTotalCostToInvestors
9578904 usd
CY2020Q4 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
12310307 usd
CY2021 ocln Fair Value Of Derivative Liabilities Issued
FairValueOfDerivativeLiabilitiesIssued
54652 usd
CY2021 ocln Net Loss Gain On Conversion Of Debt And Change In Derivative Liability
NetLossGainOnConversionOfDebtAndChangeInDerivativeLiability
-5838830 usd
CY2021Q4 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
6526129 usd
CY2022 ocln Net Loss Gain On Conversion Of Debt And Change In Derivative Liability
NetLossGainOnConversionOfDebtAndChangeInDerivativeLiability
3052775 usd
CY2022Q4 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
9578904 usd
CY2022 ocln Fair Value Assumption Expected Dividend Rate
FairValueAssumptionExpectedDividendRate
0 pure
CY2021 ocln Fair Value Assumption Expected Dividend Rate
FairValueAssumptionExpectedDividendRate
0 pure
CY2022 us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><span style="text-decoration:underline">Reclassification </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">Certain amounts in the prior period financial statements have been reclassified to conform to the presentation used in the current financial statements for comparative purpose. There was no material effect on the Company’s previously issued financial statements.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"> </p>
CY2022Q4 us-gaap Excess Stock Shares Issued
ExcessStockSharesIssued
25 shares
CY2022 ocln Conversion Of Stock Shares Issued
ConversionOfStockSharesIssued
40646122 shares
CY2022Q4 us-gaap Stockholders Equity Reverse Stock Split
StockholdersEquityReverseStockSplit
20:1
CY2022Q4 us-gaap Long Term Debt Fair Value
LongTermDebtFairValue
18065 usd
CY2022 ocln Conversion Of Preferred Shares
ConversionOfPreferredShares
4962501 shares
CY2021 ocln Interest Amount
InterestAmount
52555 usd
CY2021 ocln Common Stock Issued For Services Shares
CommonStockIssuedForServicesShares
33476294 shares
CY2021 ocln Common Stock Issued For Services Fair Value
CommonStockIssuedForServicesFairValue
2229695 usd
CY2021 ocln Warrants Description
WarrantsDescription
The Company issued 1,000,000 shares of common stock upon exercise of 1,000,000 warrants at an exercise price of $0.05 per share for $50,000. The Company issued 1,798,562 shares of common stock at a price of $0.0695 in conjunction with the sale of Series X preferred stock and recognized a loss of $125,000 in the financial statements. 
CY2022Q3 ocln Restricted Stock Grant Agreements Description
RestrictedStockGrantAgreementsDescription
Pursuant to the agreements, WODI granted an aggregate of 96,000,000 (4,800,000 post reverse split) restricted stock awards to the Board, Employees and Consultants.
CY2022 ocln Restricted Stock Grant Agreement Description
RestrictedStockGrantAgreementDescription
The BEC RSGAs provide for the issuance of up to 296,678,542 shares of the Company’s common stock to employees and consultants provided certain milestones are met in certain stages; a) If the Company’s consolidated gross revenue, calculated in accordance with generally accepted accounting principles, consistently applied, equals or exceeds $15,000,000 for the trailing twelve month period as reported in the Company’s quarterly or annual financial statements, the Company will issue up to an aggregate of 148,339,271 shares of its common stock; b) If the Company’s consolidated operating profit Operating Profit = Operating Revenue - Cost of Goods Sold - Operating Expenses - Depreciation & Amortization), calculated in accordance with generally accepted accounting principles, equals or exceeds $1,500,000 for the trailing twelve month period as reported as reported in the Company’s SEC reports, the Company will issue up to an aggregate of 148,339,271 shares of its common stock.
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
2385483 usd
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Three
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The Company then (i) calculates the value of the Company common stock traded in the year immediately prior to the vesting year, using daily adjusted close and volume, as quoted on the public securities trading market on which the Company’s common stock is then traded (ii) determines the cost basis of the shares, which shall be the closing price quoted on the public securities trading market, quoted on the first trading day of the vesting year which will be the grantee’s cost basis, and (iii) applies the 10% calculation and divides it into the number of qualifying alternate vestees, giving the gross number of shares available to each Grantee. For each alternate vestee for each year in which there occurs a vesting or a potential vesting, the Company (i) does a 90-day lookback from the first day of the latest vesting month, to limit cumulative vesting of shares for each alternate vestee for the 90-day period to 1% of total Company shares of common stock outstanding for the period, using the then current figure for shares outstanding at the time of the lookback; (ii) places the excess shares (the “Overlimit Shares”) in suspense for issuance in the next 90-day period so that in each future 90-day period they may be issued, and (iii) if on the 90-day lookback, cumulative issuances are less than 1% of shares outstanding, the Company will add the shares from previous 90-day lookback, if any. For the avoidance of doubt, the Company will not record any Overlimit Shares as vested until such as time as they have been finally issued.
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the Company received 4,000 shares of WTII Series C convertible preferred stock for the use of OriginClear, Inc. technology associated with their proprietary electro water separation system. Each share of Series C convertible preferred stock is convertible into one thousand (1,000) shares of WTII common stock. The stock was valued at fair market value of $0.0075 for a price of $30,000 on the date of issuance. The Company analyzed the licensing agreement using ASU 606 to determine the timing of revenue recognition.
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On March 23, 2022, WODI announced that it was evaluating the first pilot opportunity, a 50,000 gallon per day wastewater treatment project.
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