2023 Q1 Form 10-Q Financial Statement

#000121390023042005 Filed on May 22, 2023

View on sec.gov

Income Statement

Concept 2023 Q1 2022 Q1
Revenue $2.006M $1.234M
YoY Change 62.58% 55.0%
Cost Of Revenue $1.875M $1.459M
YoY Change 28.55% 110.96%
Gross Profit $131.1K -$224.8K
YoY Change -158.32% -314.74%
Gross Profit Margin 6.53% -18.21%
Selling, General & Admin $1.903M $1.526M
YoY Change 24.67% 22.11%
% of Gross Profit 1451.83%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $7.829K $10.73K
YoY Change -27.04% -7.74%
% of Gross Profit 5.97%
Operating Expenses $1.911M $1.537M
YoY Change 24.31% 21.83%
Operating Profit -$1.780M -$1.762M
YoY Change 1.01% 52.28%
Interest Expense $256.0K -$1.678M
YoY Change -115.25% -89.42%
% of Operating Profit
Other Income/Expense, Net -$421.5K
YoY Change
Pretax Income -$2.201M -$3.576M
YoY Change -38.45% -79.97%
Income Tax
% Of Pretax Income
Net Earnings -$2.201M -$3.576M
YoY Change -38.45% -79.97%
Net Earnings / Revenue -109.71% -289.79%
Basic Earnings Per Share $0.00 -$0.01
Diluted Earnings Per Share $0.00 -$8.589K
COMMON SHARES
Basic Shares Outstanding 1.062B shares 416.4M shares
Diluted Shares Outstanding 1.062B shares 416.4M shares

Balance Sheet

Concept 2023 Q1 2022 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $925.6K $888.1K
YoY Change 4.22% 64.55%
Cash & Equivalents $903.0K $1.854M
Short-Term Investments $22.60K $94.94K
Other Short-Term Assets $1.432M $1.074M
YoY Change 33.36% 3292.07%
Inventory $2.850K
Prepaid Expenses $11.37K
Receivables $2.132M $1.822M
Other Receivables $2.132M $0.00
Total Short-Term Assets $4.501M $3.786M
YoY Change 18.88% 228.02%
LONG-TERM ASSETS
Property, Plant & Equipment $169.2K $202.7K
YoY Change -16.49% -17.81%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $2.400K $8.800K
YoY Change -72.73% -83.46%
Other Assets $800.0K $514.0K
YoY Change 55.64% -18.41%
Total Long-Term Assets $976.1K $729.9K
YoY Change 33.73% -21.87%
TOTAL ASSETS
Total Short-Term Assets $4.501M $3.786M
Total Long-Term Assets $976.1K $729.9K
Total Assets $5.477M $4.516M
YoY Change 21.28% 116.24%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.858M $1.434M
YoY Change 99.33% 9.8%
Accrued Expenses $1.811M $1.532M
YoY Change 18.27% -0.37%
Deferred Revenue $916.9K
YoY Change
Short-Term Debt $379.8K $180.7K
YoY Change 110.24% -80.34%
Long-Term Debt Due $8.778M $1.602M
YoY Change 448.02% -25.33%
Total Short-Term Liabilities $21.57M $15.61M
YoY Change 38.11% -54.99%
LONG-TERM LIABILITIES
Long-Term Debt $883.8K $1.416M
YoY Change -37.59% 50.98%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $883.8K $1.416M
YoY Change -37.59% 50.98%
TOTAL LIABILITIES
Total Short-Term Liabilities $21.57M $15.61M
Total Long-Term Liabilities $883.8K $1.416M
Total Liabilities $22.45M $17.03M
YoY Change 31.82% -52.2%
SHAREHOLDERS EQUITY
Retained Earnings -$111.2M
YoY Change
Common Stock $84.11M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$26.96M -$12.51M
YoY Change
Total Liabilities & Shareholders Equity $5.477M $4.516M
YoY Change 21.28% 116.24%

Cashflow Statement

Concept 2023 Q1 2022 Q1
OPERATING ACTIVITIES
Net Income -$2.201M -$3.576M
YoY Change -38.45% -79.97%
Depreciation, Depletion And Amortization $7.829K $10.73K
YoY Change -27.04% -7.74%
Cash From Operating Activities -$2.000M -$271.6K
YoY Change 636.3% -72.83%
INVESTING ACTIVITIES
Capital Expenditures $4.500K -$4.500K
YoY Change -200.0% 0.0%
Acquisitions
YoY Change
Other Investing Activities -$1.658M
YoY Change
Cash From Investing Activities -$1.662M -$4.500K
YoY Change 36842.67% 0.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $130.6K
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities $3.210M 1.424M
YoY Change 125.42% 24.24%
NET CHANGE
Cash From Operating Activities -$2.000M -271.6K
Cash From Investing Activities -$1.662M -4.500K
Cash From Financing Activities $3.210M 1.424M
Net Change In Cash -$451.8K 1.148M
YoY Change -139.36% 708.27%
FREE CASH FLOW
Cash From Operating Activities -$2.000M -$271.6K
Capital Expenditures $4.500K -$4.500K
Free Cash Flow -$2.004M -$267.1K
YoY Change 650.39% -73.16%

Facts In Submission

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3875377 usd
CY2022Q1 ocln Gain Loss On Net Change In Valuation Of Derivative Liabilities
GainLossOnNetChangeInValuationOfDerivativeLiabilities
-1326713 usd
CY2023Q1 us-gaap Increase Decrease In Receivables
IncreaseDecreaseInReceivables
-2505339 usd
CY2022Q1 ocln Debt Discount Recognized As Interest Expense
DebtDiscountRecognizedAsInterestExpense
3743 usd
CY2023Q1 us-gaap Unrealized Gain Loss On Investments
UnrealizedGainLossOnInvestments
-4521 usd
CY2022Q1 us-gaap Unrealized Gain Loss On Investments
UnrealizedGainLossOnInvestments
-112778 usd
CY2023Q1 ocln Impairment Of Receivable From Spac
ImpairmentOfReceivableFromSPAC
1657920 usd
CY2022Q1 ocln Gain Loss On Conversion Of Preferred Stock
GainLossOnConversionOfPreferredStock
-210997 usd
CY2022Q1 us-gaap Gains Losses On Extinguishment Of Debt Before Write Off Of Deferred Debt Issuance Cost
GainsLossesOnExtinguishmentOfDebtBeforeWriteOffOfDeferredDebtIssuanceCost
50000 usd
CY2023Q1 us-gaap Increase Decrease In Accounts Receivable And Other Operating Assets
IncreaseDecreaseInAccountsReceivableAndOtherOperatingAssets
-346797 usd
CY2022Q1 us-gaap Increase Decrease In Accounts Receivable And Other Operating Assets
IncreaseDecreaseInAccountsReceivableAndOtherOperatingAssets
-1111221 usd
CY2023Q1 us-gaap Increase Decrease In Contract With Customer Asset
IncreaseDecreaseInContractWithCustomerAsset
-47700 usd
CY2022Q1 us-gaap Increase Decrease In Contract With Customer Asset
IncreaseDecreaseInContractWithCustomerAsset
403035 usd
CY2023Q1 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-13628 usd
CY2022Q1 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-748 usd
CY2023Q1 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-921795 usd
CY2022Q1 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-13672 usd
CY2023Q1 us-gaap Increase Decrease In Other Accrued Liabilities
IncreaseDecreaseInOtherAccruedLiabilities
177439 usd
CY2022Q1 us-gaap Increase Decrease In Other Accrued Liabilities
IncreaseDecreaseInOtherAccruedLiabilities
47873 usd
CY2023Q1 ocln Conversion Of Preferred Stock To Common Stock
ConversionOfPreferredStockToCommonStock
usd
CY2023Q1 us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
-15523 usd
CY2022Q1 us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
607879 usd
CY2023Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-1999565 usd
CY2022Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-271565 usd
CY2023Q1 us-gaap Payments To Acquire Notes Receivable
PaymentsToAcquireNotesReceivable
1657920 usd
CY2023Q1 us-gaap Payments To Acquire Other Productive Assets
PaymentsToAcquireOtherProductiveAssets
4500 usd
CY2022Q1 us-gaap Payments To Acquire Other Productive Assets
PaymentsToAcquireOtherProductiveAssets
4500 usd
CY2023Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-1662420 usd
CY2022Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-4500 usd
CY2022Q1 us-gaap Repayments Of Debt And Capital Lease Obligations
RepaymentsOfDebtAndCapitalLeaseObligations
2272 usd
CY2023Q1 us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
633 usd
CY2023Q1 us-gaap Proceeds From Repayments Of Lines Of Credit
ProceedsFromRepaymentsOfLinesOfCredit
200000 usd
CY2023Q1 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
130584 usd
CY2023Q1 ocln Payments On Cumulative Preferred Stock Dividends
PaymentsOnCumulativePreferredStockDividends
-3210 usd
CY2022Q1 ocln Payments On Cumulative Preferred Stock Dividends
PaymentsOnCumulativePreferredStockDividends
4369 usd
CY2023Q1 us-gaap Proceeds From Issuance Of Other Long Term Debt
ProceedsFromIssuanceOfOtherLongTermDebt
2532000 usd
CY2023Q1 ocln Net Proceeds For Issuance Of Preferred Stock For Cash Liability Classification
NetProceedsForIssuanceOfPreferredStockForCashLiabilityClassification
345000 usd
CY2022Q1 ocln Net Proceeds For Issuance Of Preferred Stock For Cash Liability Classification
NetProceedsForIssuanceOfPreferredStockForCashLiabilityClassification
1430700 usd
CY2023Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
3210161 usd
CY2022Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
1424059 usd
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
-451824 usd
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
1147994 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
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
902990 usd
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
1854415 usd
CY2023Q1 us-gaap Interest Paid Net
InterestPaidNet
255983 usd
CY2022Q1 us-gaap Interest Paid Net
InterestPaidNet
180898 usd
CY2022Q1 ocln Common Stock Issued At Fair Value For Conversion Of Debt Plus Accrued Interest And Other Fees
CommonStockIssuedAtFairValueForConversionOfDebtPlusAccruedInterestAndOtherFees
119634 usd
CY2023Q1 ocln Issuance Of Warrants Deemed Dividends
IssuanceOfWarrantsDeemedDividends
24 usd
CY2022Q1 ocln Issuance Of Warrants Deemed Dividends
IssuanceOfWarrantsDeemedDividends
26 usd
CY2023Q1 ocln Preferred Stock Converted To Common Stock Equity
PreferredStockConvertedToCommonStockEquity
875000 usd
CY2022Q1 ocln Preferred Stock Converted To Common Stock Equity
PreferredStockConvertedToCommonStockEquity
1088347 usd
CY2023Q1 ocln Issuance Of Series R Preferred Stock For Wodi Secured Convertible Note
IssuanceOfSeriesRPreferredStockForWODISecuredConvertibleNote
100000 usd
CY2022Q1 ocln Conversion Of Preferred Stock To Common Stock
ConversionOfPreferredStockToCommonStock
135000 usd
CY2023Q1 us-gaap Stock Issued1
StockIssued1
8584 usd
CY2022Q1 us-gaap Stock Issued1
StockIssued1
11101 usd
CY2023Q1 ocln Exchange Of Series X Preferred Stock For Wodi Secured Convertible Notes
ExchangeOfSeriesXPreferredStockForWODISecuredConvertibleNotes
250000 usd
CY2023Q1 ocln Share Issued
ShareIssued
883 usd
CY2023Q1 ocln Redemption Of Shares For Secured Promissory Notes
RedemptionOfSharesForSecuredPromissoryNotes
18214 usd
CY2023Q1 us-gaap Capital Units
CapitalUnits
345000 usd
CY2023Q1 ocln Sale Revenue Net
SaleRevenueNet
2006394 usd
CY2023Q1 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>
CY2023Q1 us-gaap Net Income Loss From Discontinued Operations Available To Common Shareholders Basic
NetIncomeLossFromDiscontinuedOperationsAvailableToCommonShareholdersBasic
-2201253 usd
CY2022Q1 us-gaap Net Income Loss From Discontinued Operations Available To Common Shareholders Basic
NetIncomeLossFromDiscontinuedOperationsAvailableToCommonShareholdersBasic
-3576267 usd
CY2023Q1 ocln Basic Weighted Average Number Of Common Shares Outstanding Denominator
BasicWeightedAverageNumberOfCommonSharesOutstandingDenominator
1062100064 shares
CY2022Q1 ocln Basic Weighted Average Number Of Common Shares Outstanding Denominator
BasicWeightedAverageNumberOfCommonSharesOutstandingDenominator
416397236 shares
CY2023Q1 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
1062100064 shares
CY2022Q1 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
416397236 shares
CY2022Q1 ocln Exchange Of Series X Preferred Stock For Wodi Secured Convertible Notes
ExchangeOfSeriesXPreferredStockForWODISecuredConvertibleNotes
usd
CY2023Q1 us-gaap Allowance For Doubtful Accounts Receivable Noncurrent
AllowanceForDoubtfulAccountsReceivableNoncurrent
17315 usd
CY2022Q4 us-gaap Allowance For Doubtful Accounts Receivable Noncurrent
AllowanceForDoubtfulAccountsReceivableNoncurrent
17315 usd
CY2023Q1 us-gaap Other Receivables Net Current
OtherReceivablesNetCurrent
2132326 usd
CY2023Q1 us-gaap Prepaid Expense Current And Noncurrent
PrepaidExpenseCurrentAndNoncurrent
11372 usd
CY2022Q4 us-gaap Prepaid Expense Current And Noncurrent
PrepaidExpenseCurrentAndNoncurrent
25000 usd
CY2023Q1 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
607012 usd
CY2022Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
607012 usd
CY2023Q1 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
437771 usd
CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
429943 usd
CY2023Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
169241 usd
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
177069 usd
CY2023Q1 us-gaap Depreciation
Depreciation
7829 usd
CY2022Q1 us-gaap Depreciation
Depreciation
10733 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
CY2023Q1 us-gaap Derivative Term Of Contract
DerivativeTermOfContract
P12M
CY2023Q1 us-gaap Fair Value Net Asset Liability
FairValueNetAssetLiability
25004 usd
CY2023Q1 us-gaap Derivative Assets Liabilities At Fair Value Net
DerivativeAssetsLiabilitiesAtFairValueNet
5703527 usd
CY2023Q1 us-gaap Derivative Instruments And Hedges Liabilities Noncurrent
DerivativeInstrumentsAndHedgesLiabilitiesNoncurrent
4331635 usd
CY2023Q1 ocln Derivative Outstanding On Derivative
DerivativeOutstandingOnDerivative
1371892 usd
CY2023Q1 us-gaap Capital Units Total Cost To Investors
CapitalUnitsTotalCostToInvestors
5703527 usd
CY2022Q4 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
9578904 usd
CY2023Q1 ocln Net Loss Gain On Conversion Of Debt And Change In Derivative Liability
NetLossGainOnConversionOfDebtAndChangeInDerivativeLiability
-3875377 usd
CY2023Q1 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
5703527 usd
CY2023Q1 ocln Fair Value Assumption Expected Dividend Rate
FairValueAssumptionExpectedDividendRate
0 pure
CY2023Q1 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>
CY2023Q1 us-gaap Convertible Preferred Stock Shares Issued Upon Conversion
ConvertiblePreferredStockSharesIssuedUponConversion
25 shares
CY2023Q1 us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
130584 usd
CY2023Q1 us-gaap Long Term Debt Fair Value
LongTermDebtFairValue
8584 usd
CY2023Q1 ocln Conversion Of Preferred Shares
ConversionOfPreferredShares
875000 shares
CY2022Q1 ocln Common Stock Issued For Services Shares
CommonStockIssuedForServicesShares
13314289 shares
CY2022Q1 ocln Common Stock Issued For Services Fair Value
CommonStockIssuedForServicesFairValue
338724 usd
CY2022Q1 us-gaap Long Term Debt Fair Value
LongTermDebtFairValue
11101 usd
CY2022Q1 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. 
CY2023Q1 ocln Restricted Stock Grant Agreement Description
RestrictedStockGrantAgreementDescription
The BEC RSGAs provide for the issuance of up to 287,661,971 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 143,830,985 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 143,830,985 shares of its common stock.
CY2019Q3 ocln Board Of Directors Amendment Description
BoardOfDirectorsAmendmentDescription
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.
CY2023Q1 ocln Issued Of Purchase Warrants
IssuedOfPurchaseWarrants
2680000 shares
CY2023Q1 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
70824989 shares
CY2023Q1 ocln Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Number Of Exercisable Warrants
ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfExercisableWarrants
70824989 shares
CY2023Q1 us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
1371892 usd
CY2023Q1 us-gaap Warrants And Rights Outstanding
WarrantsAndRightsOutstanding
0 usd
CY2022Q4 us-gaap Warrants And Rights Outstanding
WarrantsAndRightsOutstanding
0 usd
CY2023Q1 us-gaap Convertible Notes Payable
ConvertibleNotesPayable
2926755 usd
CY2023Q1 us-gaap Other Long Term Debt Current
OtherLongTermDebtCurrent
2042983 usd
CY2023Q1 ocln Convertible Promissory Notes
ConvertiblePromissoryNotes
883772 usd
CY2022Q1 ocln Share Issued
ShareIssued
usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
816008 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
1226975 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
883772 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
2926755 usd
CY2023Q1 us-gaap Derivative Liabilities Noncurrent
DerivativeLiabilitiesNoncurrent
4331635 usd
CY2022 us-gaap Proceeds From Secured Notes Payable
ProceedsFromSecuredNotesPayable
1347500 usd
CY2022 ocln Investors Interest Percentage
InvestorsInterestPercentage
0.10 pure
CY2022 us-gaap Supplemental Deferred Purchase Price
SupplementalDeferredPurchasePrice
400000 usd
CY2023Q1 us-gaap Other Additional Capital
OtherAdditionalCapital
2532000 usd
CY2023Q1 ocln Convertible Promissory Note
ConvertiblePromissoryNote
6734839 usd
CY2023Q1 ocln Revenue From Equipment Contracts
RevenueFromEquipmentContracts
926190 usd
CY2022Q1 ocln Revenue From Equipment Contracts
RevenueFromEquipmentContracts
812245 usd
CY2023Q1 ocln Component Sales
ComponentSales
198391 usd
CY2022Q1 ocln Component Sales
ComponentSales
354731 usd
CY2023Q1 ocln Waste Water Treatment Systems
WasteWaterTreatmentSystems
791075 usd
CY2022Q1 ocln Waste Water Treatment Systems
WasteWaterTreatmentSystems
49460 usd
CY2023Q1 ocln Pump Stations
PumpStations
75615 usd
CY2023Q1 us-gaap Rental Income Nonoperating
RentalIncomeNonoperating
6573 usd
CY2022Q1 us-gaap Rental Income Nonoperating
RentalIncomeNonoperating
6573 usd
CY2023Q1 ocln Revenue From Services Sales
RevenueFromServicesSales
8550 usd
CY2022Q1 ocln Revenue From Services Sales
RevenueFromServicesSales
11096 usd
CY2023Q1 us-gaap Revenues
Revenues
2006394 usd
CY2022Q1 us-gaap Revenues
Revenues
1234105 usd
CY2023Q1 us-gaap Contract With Customer Asset Net Current
ContractWithCustomerAssetNetCurrent
1431791 usd
CY2022Q4 us-gaap Contract With Customer Asset Net Current
ContractWithCustomerAssetNetCurrent
1479491 usd
CY2023Q1 us-gaap Other Liabilities
OtherLiabilities
916935 usd
CY2022Q4 us-gaap Other Liabilities
OtherLiabilities
932458 usd
CY2021Q4 us-gaap Interest And Fee Income Loans And Leases
InterestAndFeeIncomeLoansAndLeases
15988 usd
CY2021Q4 ocln Aggregate Principal Amount
AggregatePrincipalAmount
149867 usd
CY2021Q4 ocln Conversion Of Stock Share Converted
ConversionOfStockShareConverted
45208649 shares
CY2023Q1 us-gaap Payments To Acquire Trading Securities Heldforinvestment
PaymentsToAcquireTradingSecuritiesHeldforinvestment
22604 usd
CY2023Q1 us-gaap Debt Securities Unrealized Gain Loss
DebtSecuritiesUnrealizedGainLoss
4521 usd
CY2018Q2 us-gaap Share Price
SharePrice
0.0075
CY2018Q2 ocln Share Price Amount
SharePriceAmount
30000 usd
CY2023Q1 ocln Preferred Shares Fair Value
PreferredSharesFairValue
2400 usd
CY2023Q1 us-gaap Fair Value Option Changes In Fair Value Gain Loss1
FairValueOptionChangesInFairValueGainLoss1
0 usd
CY2023Q1 us-gaap Notes And Loans Payable
NotesAndLoansPayable
30646 usd
CY2022Q1 ocln Water On Demand Inc Description
WaterOnDemandIncDescription
On March 23, 2022, WODI announced that it was evaluating the first pilot opportunity, a 50,000 gallon per day wastewater treatment project.
CY2022Q4 us-gaap Other Investments
OtherInvestments
1000 usd
CY2022Q4 ocln Paid Total Amount
PaidTotalAmount
1137267 usd
CY2022Q4 ocln Membership Interest Amount
MembershipInterestAmount
400000 usd
CY2022Q4 us-gaap Compensating Balance Amount
CompensatingBalanceAmount
737267 usd
CY2022 us-gaap Increase Decrease In Notes Payable Related Parties Current
IncreaseDecreaseInNotesPayableRelatedPartiesCurrent
737267 usd
CY2022Q4 ocln Purchase Price
PurchasePrice
400000 usd
CY2022Q4 us-gaap Debt Instrument Interest Rate Increase Decrease
DebtInstrumentInterestRateIncreaseDecrease
0.10 pure
CY2023Q1 us-gaap Deposits
Deposits
977500 usd
CY2023Q1 us-gaap Sale Of Stock Price Per Share
SaleOfStockPricePerShare
0.1
CY2023Q2 ocln Special Meeting Total Number Of Percentage
SpecialMeetingTotalNumberOfPercentage
0.8161 pure
CY2023Q2 ocln Sufficient Votes Percentage
SufficientVotesPercentage
0.65 pure
CY2022Q4 us-gaap Other Notes Payable
OtherNotesPayable
737267 usd
CY2022 us-gaap Debt Instrument Redemption Price Percentage
DebtInstrumentRedemptionPricePercentage
0.50 pure
CY2023Q1 ocln Unsecured Promissory Notes Receivable
UnsecuredPromissoryNotesReceivable
1657920 usd
CY2022Q4 ocln Aggregate Amounts Of Spac
AggregateAmountsOfSPAC
2395187 usd
CY2022Q4 us-gaap Debt Instrument Interest Rate Effective Percentage
DebtInstrumentInterestRateEffectivePercentage
0.50 pure
CY2022Q4 us-gaap Payments For Loans
PaymentsForLoans
737267 usd
CY2022Q4 ocln Aggregate Amounts Of Spac
AggregateAmountsOfSPAC
1657920 usd
CY2023Q1 us-gaap Shares Issued
SharesIssued
10100000 shares
CY2023Q1 us-gaap Restricted Investments Percent Of Net Assets
RestrictedInvestmentsPercentOfNetAssets
0.25 pure
CY2023Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Award Vesting Rights Percentage
SharebasedCompensationArrangementBySharebasedPaymentAwardAwardVestingRightsPercentage
0.0625 pure
CY2022Q1 ocln Redemption Of Shares For Secured Promissory Notes
RedemptionOfSharesForSecuredPromissoryNotes
usd
CY2022Q1 ocln Pump Stations
PumpStations
usd
CY2023Q1 ocln Commission Training
CommissionTraining
usd
CY2023Q1 us-gaap Line Of Credit Facility Increase Decrease For Period Net
LineOfCreditFacilityIncreaseDecreaseForPeriodNet
200000 usd
CY2023Q1 us-gaap Line Of Credit Facility Interest Rate During Period
LineOfCreditFacilityInterestRateDuringPeriod
0.2607 pure
CY2023Q1 ocln Preferred Stock Fair Value
PreferredStockFairValue
630000 usd
CY2023Q1 us-gaap Assets Fair Value Adjustment
AssetsFairValueAdjustment
230000 usd
CY2023Q1 us-gaap Servicing Asset At Fair Value Amount
ServicingAssetAtFairValueAmount
400000 usd
CY2023Q1 ocln Aggregate Amount
AggregateAmount
126879 usd
CY2023Q1 us-gaap Rental Properties
RentalProperties
8150 usd
CY2023Q1 ocln Warranty Reserve Current
WarrantyReserveCurrent
20000 usd
CY2022Q4 ocln Warranty Reserve Current
WarrantyReserveCurrent
20000 usd
CY2023Q1 us-gaap Repayments Of Debt And Capital Lease Obligations
RepaymentsOfDebtAndCapitalLeaseObligations
usd
CY2022Q1 us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
usd
CY2022Q1 us-gaap Proceeds From Repayments Of Lines Of Credit
ProceedsFromRepaymentsOfLinesOfCredit
usd
CY2022Q1 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
usd
CY2022Q1 us-gaap Proceeds From Issuance Of Other Long Term Debt
ProceedsFromIssuanceOfOtherLongTermDebt
usd
CY2023Q1 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
usd
CY2022Q1 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
usd
CY2022Q4 us-gaap Lines Of Credit Current
LinesOfCreditCurrent
usd
CY2022Q4 ocln Preferred Stock Value7
PreferredStockValue7
usd
CY2023Q1 ocln Preferred Stock Value9
PreferredStockValue9
usd
CY2022Q4 ocln Preferred Stock Value9
PreferredStockValue9
usd
CY2023Q1 ocln Preferred Stock Value10
PreferredStockValue10
usd
CY2022Q4 ocln Preferred Stock Value10
PreferredStockValue10
usd
CY2023Q1 us-gaap Treasury Stock Value
TreasuryStockValue
usd
CY2022Q4 us-gaap Treasury Stock Value
TreasuryStockValue
usd
CY2022Q1 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
usd
CY2023Q1 ocln Gain On Write Off Of Accounts Payable
GainOnWriteOffOfAccountsPayable
usd
CY2022Q1 ocln Unrealized Gainloss On Investment Securities
UnrealizedGainlossOnInvestmentSecurities
usd
CY2022Q1 us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
usd
CY2023Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.00
CY2022Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.01
CY2023Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
1062100064 shares
CY2022Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
416397236 shares
CY2022Q1 ocln Common Stock Issued For Dividends On Series O Preferred Stock
CommonStockIssuedForDividendsOnSeriesOPreferredStock
usd
CY2022Q1 ocln Common Stock Issued For Make Good Shares For Series R Preferred Stock
CommonStockIssuedForMakeGoodSharesForSeriesRPreferredStock
usd
CY2022Q1 us-gaap Stock Issued During Period Value Conversion Of Units
StockIssuedDuringPeriodValueConversionOfUnits
usd
CY2022Q1 ocln Issuance Of Series X Preferred Stock Through A Private Placement
IssuanceOfSeriesXPreferredStockThroughAPrivatePlacement
usd
CY2022Q1 ocln Exchange Of Series F Preferred Stock For Series Q Preferred Stock
ExchangeOfSeriesFPreferredStockForSeriesQPreferredStock
usd
CY2022Q1 ocln Exchange Of Series K Preferred Stock For Series W Preferred Stocks
ExchangeOfSeriesKPreferredStockForSeriesWPreferredStocks
usd
CY2023Q1 ocln Common Stock Issued For Dividends On Series O Preferred Stock
CommonStockIssuedForDividendsOnSeriesOPreferredStock
usd
CY2023Q1 us-gaap Stock Issued During Period Value Conversion Of Units
StockIssuedDuringPeriodValueConversionOfUnits
usd
CY2023Q1 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
usd
CY2023Q1 ocln Issuance Of Series X Preferred Stock Through A Private Placement
IssuanceOfSeriesXPreferredStockThroughAPrivatePlacement
usd
CY2023Q1 ocln Exchange Of Series R Preferred Stock For Wodi Secured Convertible Note
ExchangeOfSeriesRPreferredStockForWODISecuredConvertibleNote
usd
CY2023Q1 ocln Exchange Of Series X Preferred Stock For Wodi Secured Convertible Note
ExchangeOfSeriesXPreferredStockForWODISecuredConvertibleNote
usd
CY2023Q1 ocln Redemption Of Common Stock For Note Purchase Agreement
RedemptionOfCommonStockForNotePurchaseAgreement
usd
CY2022Q1 us-gaap Increase Decrease In Receivables
IncreaseDecreaseInReceivables
usd
CY2023Q1 ocln Debt Discount Recognized As Interest Expense
DebtDiscountRecognizedAsInterestExpense
usd
CY2022Q1 ocln Impairment Of Receivable From Spac
ImpairmentOfReceivableFromSPAC
usd
CY2023Q1 ocln Gain Loss On Conversion Of Preferred Stock
GainLossOnConversionOfPreferredStock
usd
CY2023Q1 us-gaap Gains Losses On Extinguishment Of Debt Before Write Off Of Deferred Debt Issuance Cost
GainsLossesOnExtinguishmentOfDebtBeforeWriteOffOfDeferredDebtIssuanceCost
usd
CY2022Q1 us-gaap Payments To Acquire Notes Receivable
PaymentsToAcquireNotesReceivable
usd
CY2022Q1 ocln Commission Training
CommissionTraining
usd
CY2023Q1 dei Amendment Flag
AmendmentFlag
false
CY2023Q1 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
CY2023Q1 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q1
CY2023Q1 dei Entity Central Index Key
EntityCentralIndexKey
0001419793

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0001213900-23-042005.txt Edgar Link pending
0001213900-23-042005-xbrl.zip Edgar Link pending
f10q0323ex31-1_originclear.htm Edgar Link pending
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