POWERVERDE, INC. Files SEC form 10-Q, Quarterly Report

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations Forward Looking Statements Readers are cautioned that the statements in this Report that are not descriptions of historical facts may be forward-looking statements that are subject to risks and uncertainties. This Report contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements are based on the beliefs of our management, as well as on assumptions made by and information currently available to us as of the date of this Report. When used in this Report, the words "plan," "will," "may," "anticipate," "believe," "estimate," "expect," "intend," "project" and similar expressions are intended to identify such forward-looking statements. Although we believe these statements are reasonable, actual actions, operations and results could differ materially from those indicated by such forward-looking statements as a result of the risk factors included in our 2008 Annual Report, or other factors. We must caution, however, that this list of factors may not be exhaustive and that these or other factors, many of which are outside of our control, could have a material adverse effect on us and our ability to achieve our objectives. All forward-looking statements attributable to us or persons acting on our behalf are expressly qualified in their entirety by the cautionary statements set forth above. Table of Contents The following discussion and analysis should be read in conjunction with the financial statements and notes thereto appearing elsewhere herein. Critical Accounting Policies The consolidated financial statements of PowerVerde, Inc. are prepared in conformity with accounting principles generally accepted in ...
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PowerVerde Completes Successful Test of Revolutionary Renewable Electric Power System

PHOENIX--(BUSINESS WIRE)--PowerVerde, Inc. (OTCBB: PWVI - News), a leading manufacturer of high performance pressure and gas expansion products, today announced the successful test of its new Organic Rankine Cycle (“ORC”), the PowerVerde 25/50 KW electric power system. The new system, a next generation design, is capable of producing 25 kilowatts of electrical power on any low grade heat (180 degree F). This test was conducted at the company’s facility, Arizona Research and Development, last Wednesday. This renewable energy heat recovery power generation system will operate on any adequate heat source. The system was designed principally for solar, geothermal, biomass, or waste heat, the latter of which can be captured from manufacturing processes or fossil fuel driven motors. George Konrad, founder and President, commented, “This test confirms our belief that this system, driven by our newest generation gas expansion motor, is the most efficient ORC ever created in the 100 KW or less space.” PowerVerde will be delivering this system to our previously announced thermal solar collaborator, a Hawaiian based leader in solar heat capture technology. Beyond solar, PowerVerde is positioning this system to capture waste heat from small diesel driven systems or manufacturing processes to create commercial grade electricity for use in factories, communities, and for resale back int...
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POWERVERDE, INC. Financials

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POWERVERDE, INC. Files SEC form 10-Q, Quarterly Report

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations Forward Looking Statements Readers are cautioned that the statements in this Report that are not descriptions of historical facts may be forward-looking statements that are subject to risks and uncertainties. This Report contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements are based on the beliefs of our management, as well as on assumptions made by and information currently available to us as of the date of this Report. When used in this Report, the words "plan," "will," "may," "anticipate," "believe," "estimate," "expect," "intend," "project" and similar expressions are intended to identify such forward-looking statements. Although we believe these statements are reasonable, actual actions, operations and results could differ materially from those indicated by such forward-looking Table of Contents statements as a result of the risk factors included in our 2008 Annual Report, or other factors. We must caution, however, that this list of factors may not be exhaustive and that these or other factors, many of which are outside of our control, could have a material adverse effect on us and our ability to achieve our objectives. All forward-looking statements attributable to us or persons acting on our behalf are expressly qualified in their entirety by the cautionary statements set forth above. The following discussion and analysis should be read in conjunction with the financial statements and notes thereto appearing elsewhere herein. Critical Accounting Policies The consolidated financial statements of PowerVerde, Inc. are prepared in conformity with accounting principles generally accepte...
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POWERVERDE, INC. Files SEC form 10-Q, Quarterly Report

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations Forward Looking Statements Readers are cautioned that the statements in this Report that are not descriptions of historical facts may be forward-looking statements that are subject to risks and uncertainties. This Report contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements are based on the beliefs of our management, as well as on assumptions made by and information currently available to us as of the date of this Report. When used in this Report, the words "plan," "will," "may," "anticipate," "believe," "estimate," "expect," "intend," "project" and similar expressions are intended to identify such forward-looking statements. Although we believe these statements are reasonable, actual actions, operations and results could differ materially from those indicated by such forward-looking statements as a result of the risk factors included in our 2008 Annual Report, or other factors. We must caution, however, that this list of factors may not be exhaustive and that these or other factors, many of which are outside of our control, could have a material adverse effect on us and our ability to achieve our objectives. All forward-looking statements attributable to us or persons acting on our behalf are expressly qualified in their entirety by the cautionary statements set forth above. Table of Contents The following discussion and analysis should be read in conjunction with the financial statements and notes thereto appearing elsewhere herein. Critical Accounting Policies The consolidated financial statements of PowerVerde, Inc. are prepared in conformity with accounting principles generally accepted in ...
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POWERVERDE, INC. Files SEC form 10-Q/A, Quarterly Report

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations Forward Looking Statements Readers are cautioned that the statements in this Report that are not descriptions of historical facts may be forward-looking statements that are subject to risks and uncertainties. This Report contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements are based on the beliefs of our management as well as on assumptions made by and information currently available to us as of the date of this Report. When used in this Report, the words "plan," "will," "may," "anticipate," "believe," "estimate," "expect," "intend," "project" and similar expressions are intended to identify such forward-looking statements. Although we believe these statements are reasonable, actual actions, operations and results could differ materially from those indicated by such forward-looking statements as a result of the risk factors included in our annual report on Form 10-KSB for the year ended December 31, 2007, or other factors. We must caution, however, that this list of factors may not be exhaustive and that these or other factors, many of which are outside of our control, could have a material adverse effect on us and our ability to achieve our objectives. All forward-looking statements attributable to us or persons acting on our behalf are expressly qualified in their entirety by the cautionary statements set forth above. The following discussion and analysis should be read in conjunction with the financial statements and notes thereto appearing elsewhere herein. Table of Contents Critical Accounting Policies Our financial statements are prepared in conformity with accounting principles generally...
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POWERVERDE, INC. Files SEC form 8-K, Non-Reliance on Previous Financials, Audits or Interim Review

Item 4.02 Non-Reliance on Previously Issued Financial Statements or a Related Audit Report or Completed Interim Review. On April 15, 2009, management and our Board of Directors determined that it was necessary to restate our financial statements for the interim period ended September 30, 2008. These financial statements could no longer be relied upon due to a change in the accounting treatment of certain stock purchase warrants issued to investors. The warrants were issued in connection with a private placement of $250,000 in principal amount of Series A Promissory Notes (the "Notes"). The Notes are due on July 31, 2009, and bear interest at the rate of 10% per annum. In consideration for the purchase of the Notes, each investor received three-year warrants to purchase shares of our common stock at an exercise price of $1.50 per share (25,000 shares for each $25,000 invested). We did not account for the stock purchase warrants in accordance with U.S. generally accepted accounting principles. The warrants were classified as liabilities on our unaudited condensed consolidated balance sheet as of September 30, 2008; however, based on the provisions of EITF 00-19, we should have classified the warrants as equity, as they (i) require physical settlement or net-share settlement, or (ii) gave us a choice of net-cash settlement or settlement in its own shares (physical settlement or net-share settlement). The effect of the adjustment for the classification of the warrants as equity is the recording of a discount against the carrying amount of the notes payable, in the amount of $249,985. The recording of the discount resulted in a decrease in the carrying amount of notes payable and an increase in additional paid-in capital in the amount of $249,985 on our consolidated balance sheet as of September 30, 2008. Also, we should have recorded amortization of the discount in the amount of $67,919 for the nine months ended September 30, 2008. The effect of the adjustmen...
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POWERVERDE, INC. Files SEC form 10-K, Annual Report

ITEM 7. MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF OPERATION The following discussion and analysis should be read in conjunction with the financial statements and notes thereto appearing elsewhere herein. Critical Accounting Policies The consolidated financial statements of PowerVerde, Inc. are prepared in conformity with accounting principles generally accepted in the United States of America ("GAAP"). The preparation of these consolidated financial statements requires our management to make estimates and assumptions about future events that effect the amounts reported in the financial statements and related notes. Future events and their effects cannot be determined with absolute certainty. Therefore, the determination of estimates requires the exercise of judgment. We believe the following critical accounting policies affect its more significant judgments and estimates used in the preparation of financial statements. Accounting for Uncertainty in Income Taxes We adopted the provisions of Financial Accounting Standards Board ("FASB") Interpretation No. 48, "Accounting for Uncertainty in Income Taxes - an interpretation of FASB Statement No. 109" ("FIN 48"), on January 1, 2007. FIN 48 clarifies the accounting for uncertainty in income taxes recognized in an enterprise's financial statements in accordance with FASB Statement 109, "Accounting for Income Taxes", and prescribes a recognition threshold and measurement process for financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return. FIN 48 also provides guidance on derecognition, classification, interest and penalties, accounting in interim periods, disclosure and transition. Based on our evaluation, we have concluded that there are no significant uncertain tax positions requiring recognition in our financial statements. Our evaluation was performed for the tax years ended December 31, 2005, 2...
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