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Nature of Business
12 Months Ended
Dec. 31, 2020
Financial Statements  
Nature of Business

Note 1 – Nature of Business

 

PowerVerde, Inc. (the “Company”) is a “C” Corporation organized under the Laws of Delaware with operations in Scottsdale, Arizona. The Company’s two founders, now its largest shareholders, have conceived and developed the use of a power systems patent. For several years, the Company has been undertaking research and development on a power generating system based on the patent and related intellectual property, which it hopes to commercialize.

 

The Company has not generated revenues from its planned operations.  During the years ended December 31, 2020 and 2019, the Company’s revenues have been generated from an assembly agreement with a related party.