OriginClear (OCLN) CEO passes; board names interim chief and plans asset, capital shifts

Rhea-AI Filing Summary

OriginClear, Inc. reported the death of its Chief Executive Officer and Chairman, Riggs Eckelberry, and expressed condolences to his family. The Board appointed Chief Financial Officer and director Cory Mertes as interim Chief Executive Officer. The Board plans a series of actions it believes are advisable given the company’s current position. These include consolidating the company’s equity capitalization, converting debt and preferred equity, liquidating certain assets, and positioning the company as a seasoned public entity for potential investment or acquisition. The company is also working with counsel on a process to transition OriginClear shareholders into a more direct ownership position in affiliated operating company Water on Demand, Inc., and expects additional shareholder communications in the coming weeks.

Positive

• None.

Negative

• Loss of key leader: The death of CEO and Chairman Riggs Eckelberry removes a long-time visionary leader, creating potential leadership and strategic continuity challenges as the company navigates significant structural changes.

Insights

Corporate governance and restructuring analyst

OriginClear faces leadership loss while launching a broad restructuring and asset strategy.

The passing of CEO and Chairman Riggs Eckelberry removes a central leadership figure, which can affect continuity and strategic execution. The Board has moved quickly by naming CFO and director Cory Mertes as interim CEO, providing short-term operational stability.

The Board outlines significant steps: equity capitalization consolidation, conversion of debt and preferred equity, liquidation of certain assets, and positioning the company as a seasoned public entity for potential investment or acquisition. These moves collectively signal a possible shift in corporate structure and focus.

The company is also exploring transitioning shareholders into a more direct ownership position in Water on Demand, Inc., an affiliated revenue-generating operating company. Subsequent shareholder communications over the coming weeks are expected to provide more detail on how these structural changes and ownership transitions may proceed.

8-K Event Classification

2 items: 8.01, 9.01

2 items

Item 8.01 Other Events Other

Voluntary disclosure of events the company deems important to shareholders but not covered by other items.

Item 9.01 Financial Statements and Exhibits Exhibits

Financial statements, pro forma financial information, and exhibit attachments filed with this report.

Key Terms

interim Chief Executive Officer, equity capitalization, preferred equity, liquidation of certain assets, +1 more

5 terms

interim Chief Executive Officer financial

"Cory Mertes, the Company's Chief Financial Officer and member of the Board of Directors, will serve as interim Chief Executive Officer."

equity capitalization financial

"These actions include a consolidation of the Company's equity capitalization, a conversion of debt and preferred equity, liquidation of certain assets,"

The total value of a company’s ownership held by shareholders, usually calculated by multiplying the number of shares outstanding by the current share price; it’s effectively the market price tag on the company’s equity. Investors use this figure to compare company size, gauge risk and growth potential, and assess how much their ownership is worth—like checking the sticker price when comparing cars before buying.

preferred equity financial

"These actions include a consolidation of the Company's equity capitalization, a conversion of debt and preferred equity, liquidation of certain assets,"

Preferred equity is a type of investment that sits between common stock and debt in a company's financial structure. It typically offers investors priority in receiving dividends and getting their money back if the company runs into trouble, making it somewhat safer than regular shares. Investors value preferred equity because it provides a steady income stream while still allowing some participation in the company's success.

liquidation of certain assets financial

"These actions include a consolidation of the Company's equity capitalization, a conversion of debt and preferred equity, liquidation of certain assets,"

seasoned public entity financial

"and positioning the Company for investment or acquisition, as a seasoned public entity."

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Understanding 8-K Material Events →

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934

Date of report (Date of earliest event reported):  May 11, 2026

OriginClear, Inc.

(Exact name of registrant as specified in its charter)

Nevada

(State or other jurisdiction of incorporation)

333-147980		26-0287664
(Commission File Number)		(IRS Employer Identification No.)

600 Cleveland St, Suite 307

Clearwater, FL 33755

(Address of principal executive offices) (Zip Code)

Registrant’s telephone number, including area code: (727) 761-1630

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act: None.

Indicate by check mark whether the registrant is an emerging growth company as defined in as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b2 of the Securities Exchange Act of 1934 (§240.12b2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 8.01Other Events 

On May 11, 2026, OriginClear, Inc., a Nevada corporation (OCLN) issued a shareholder release regarding the recent death of Riggs Eckelberry, the company’s Chief Executive Officer and Chairman of the Board of Directors and the company’s plan moving forward.  A copy of the press release is attached as Exhibit 99.1 and incorporated herein by reference.

Item 9.01 Financial Statements and Exhibits.

The following exhibits are being filed herewith:

Exhibit Number		Description of Exhibit
99.1		Release dated May 11, 2026.
104		Cover Page Interactive Data File (embedded with the Inline XRBL document).

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	ORIGINCLEAR, INC.
May 13, 2026	By:	/s/ Cory Mertes
		Name: Cory Mertes Title:   Interim Chief Executive Officer

Dear Valued Shareholders, Partners, and Friends,

As you are aware, we are deeply saddened by the recent loss of our leader and visionary, Riggs Eckelberry. His passing was a tragedy, and we extend our deepest condolences to his wife and family. Riggs was a brilliant, passionate, and inspirational leader whose presence within OriginClear (the "Company") will be greatly missed.

Cory Mertes, the Company's Chief Financial Officer and member of the Board of Directors, will serve as interim Chief Executive Officer.

Considering Riggs's passing and the current position of the Company, the Company’s Board of Directors has deemed it advisable to take a series of actions designed to address current obligations, protect shareholders, and preserve value. These actions include a consolidation of the Company's equity capitalization, a conversion of debt and preferred equity, liquidation of certain assets, and positioning the Company for investment or acquisition, as a seasoned public entity.

As part of these efforts, we are working with the Company's counsel to transition OriginClear shareholders into a more direct ownership position in Water on Demand, Inc., a revenue-generating operating company affiliated with OriginClear. This transition is intended to provide shareholders with additional opportunities to participate in the future of Water on Demand. We anticipate a series of shareholder communications over the coming weeks with further details.

Thank you for your patience and continued trust in the OriginClear team and vision.

Sincerely,

OriginClear Board of Directors

FAQ

What major event did OriginClear (OCLN) disclose in this 8-K?

OriginClear disclosed the death of its Chief Executive Officer and Chairman, Riggs Eckelberry. The Board expressed condolences and outlined leadership and strategic steps it is taking in response to his passing and the company’s current position.

Who is serving as interim CEO of OriginClear (OCLN)?

Cory Mertes, previously Chief Financial Officer and a member of the Board of Directors, is serving as interim Chief Executive Officer. This appointment is intended to maintain leadership continuity while the Board undertakes broader strategic and structural initiatives.

What restructuring actions is OriginClear (OCLN) planning?

The Board plans to consolidate the company’s equity capitalization, convert debt and preferred equity, liquidate certain assets, and position OriginClear as a seasoned public entity suitable for investment or acquisition, reflecting a broad review of its capital structure and assets.

How will OriginClear (OCLN) shareholders be affected by the Water on Demand plan?

OriginClear is working with counsel to transition shareholders into a more direct ownership position in Water on Demand, Inc., an affiliated revenue-generating operating company. This is intended to provide additional opportunities for shareholders to participate in Water on Demand’s future.

Will OriginClear (OCLN) provide more information about these changes?

Yes. The Board states it anticipates a series of shareholder communications over the coming weeks. These communications are expected to provide further details on the structural actions and the proposed transition to direct ownership in Water on Demand, Inc.

Filing Exhibits & Attachments

5 documents

Press Releases

• EX-99.1 RELEASE DATED MAY 11, 2026. 2.7 KB

Other Documents

• EX-101 XBRL TAXONOMY EXTENSION DEFINITION LINKBASE DOCUMENT 1.8 KB
• EX-101 XBRL TAXONOMY EXTENSION LABELS LINKBASE DOCUMENT 13.5 KB
• EX-101 XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE DOCUMENT 8.8 KB
• EX-101 XBRL TAXONOMY EXTENSION SCHEMA DOCUMENT 2.3 KB