Replies to post #360 on Ocean Thermal Energy Corp. (CPWR)

[maz1978]

Note 2: Going Concern

The accompanying unaudited condensed consolidated financial statements have been prepared on the assumption that we will continue as a going concern. As reflected in the accompanying condensed consolidated financial statements, we had a net loss of $2,284,439 and used $1,376,867 of cash in operating activities for the six months ended June 30, 2018. We had a working capital deficiency of $12,371,700 and a stockholders’ deficiency of $12,618,957 as of June 30, 2018. These factors raise substantial doubt about our ability to continue as a going concern. Our ability to continue as a going concern is dependent on our ability to increase sales and obtain external funding for our projects under development. The financial statements do not include any adjustments that may result from the outcome of this uncertainty.

Note 3: Income Taxes