The five-year chart at OriginClear shows a long-term statcrash.
Longtime Scientology OT Riggs Eckelberry, an Apollo veteran, owns a micro-cap company called OriginClear (OCLN).
Using LRH Tech, OT Eckelberry has -95.5x’d OriginClear in the past five years.
The financials paint a bleak picture. OCLN’s share price has declined roughly 81% over the past year, and recent quarterly results showed just $1.36 million in revenue against a net loss of $8.3 million, with a total shareholders’ deficit approaching negative $40 million.
The most recent quarterly net income was negative $18 million. The company’s share count has ballooned to 1.6 billion shares outstanding, meaning existing shareholders have been massively diluted.
OriginClear has pursued various capital-raising schemes including crowdfunding and a proposed SPAC merger with Fortune Rise Acquisition Corporation, but there is no indication that a sustainable business has materialized after nearly two decades of operation. The stock is extremely volatile, highly illiquid, and carries all the hallmarks of a speculative OTC penny stock. This is not financial advice, but the fundamentals here would warrant extreme caution.
OriginClear’s financials are awful:
Given his 20 year lack of success at OriginClear, Riggs Eckelberry has decided to pivot where a lot of Scientologists have gone before him: Bitcoin.
Scientologist Grant Cardone has several hybrid Multifamily-BTC funds. Cardone Capital loaded up on ~1,000 BTC, plans to buy 3,000, and then launch an IPO which will be a dedicated entity structured as a corporate Bitcoin treasury backed by real estate cash flows. We have not seen the Cardone IPO prospectus but assume, based on how Cardone works, that it will be another typical Cardone self-dealing fund in which he pays himself fees at every turn as happens with his real estate funds.
Riggs Eckelberry is late to the Bitcoin party and has therefore targeted the energy space which powers crypto mining.
Eckelberry has announced a partnership with fellow Scientologist Giannis Andreou, CEO of BitMern Mining. The new venture is called OriginSpark — and what could possibly go wrong given OriginClear’s financial performance over 20 years?
At his website, Scientologist Giannis Andreou has users agree to hold himself and company harmless for everything:
OT Eckelberry announced a second venture with Block40X of Clearwater:
CLEARWATER, FL — 18 November, 2025 — OriginSpark, a venture of OriginClear Inc. (OTC: OCLN), a pioneer in tax-advantaged funding of scarce assets, today announced a joint venture with Block40X to expand Bitcoin mining through access to long-term, low-cost energy.
Block40X has secured land and a 250-megawatt power supply agreement through Basin Data Solutions. The long-term agreement sets electricity pricing under 3 cents per kilowatt-hour, significantly lower rates than industry leaders such as Mara Holdings (NASDAQ: MARA) and Riot Platforms (NASDAQ: RIOT) with some industry leaders paying as high as 6 cents per kWh.
Electricity is the largest input cost in Bitcoin mining. Current difficulty levels mean about one gigawatt-hour of energy is required for each Bitcoin mined (as much as $60,000 for each Bitcoin mined at current market rates), and this difficulty is rising with increasing Bitcoin scarcity.
“Bitcoin workloads are surging, but power access and cost are limiting growth,” said Benjamin Hoskins, Block40X co-founder. “Block40X delivers one of the lowest-cost, most scalable energy-backed platforms in the world.”
Block40X submitted a Reg A offering to the SEC for $50 million. Reg A offerings target unsophisticated investors. Grant Cardone also trafficks in Reg A.
The Block40X Form 10-Q below shows “up to 230,000,00 shares of common stock” at .25.
A red flag in the Reg A is point 2 in which Block40X proposes to pay broker-dealers up to 10% to sell its paper. This is an extremely high commission for B-D’s and we saw it at GPB Capital Holdings.
The next party in this crypto energy play is 100MW, LLC, a Wyoming company which is partnering with Block40X. This deal calls for a $200 million Reg D offering which funds a plant in a US -friendly Asian nation, but does not disclose the country. The claimed 25 years power supply agreement at .021 per kilowatt hour does not account for even basic inflation or fluctuations in the US dollar or the local currency of the undisclosed Asian nation.
The November 2025 Press Release:
MIAMI, Nov. 25, 2025 /PRNewswire/ — 100MW, LLC (“100MW”) is pleased to announce an agreement with Block40X, Inc. (“Block40X”), establishing a strategic partnership to develop and support one of the world’s most efficient large-scale Bitcoin-mining, AI, and high-performance computing (HPC) campuses.
Under the terms of the agreement, Block40X — the holder of a 25-year Power Supply Agreement (PSA) securing up to 1 GW of renewable power at a fixed rate of $0.021 per kilowatt-hour — will lead all engineering, construction, and operational management of the digital-infrastructure campus.
100MW, LLC will coordinate and facilitate a $200 million structured private raise under Regulation D Rule 506(c), working with accredited participants and strategic partners interested in participating in the project’s phased build-out. The initial deployment will include 100 megawatts of capacity, scalable to 500 MW.
The project site spans 47 acres in a politically stable, U.S.-friendly Asian nation with a strong rule of law and pro-investment policies, providing a secure foundation for long-term operations and capital participation. The facility will utilize modular containers, optimized for Bitcoin mining, artificial intelligence (AI), data center, or HPC workloads.
“This agreement represents a pivotal milestone for 100MW and our partners,” said Gary R.J. Guzzo, Partner of 100MW, LLC. “We’re proud to align with Block40X, the exclusive holder of one of the most competitive large-scale renewable-power contracts in the sector. Together, we are advancing an infrastructure model built on transparency, sustainability, and real economic fundamentals.”
Our research shows a connection between Block40X and Gary R.J. Guzzo. Gary R.J. Guzzo is also identified as a partner of 100MW, LLC, which has established a strategic relationship with Block40X.
Gary R.J. Guzzo has a company called Nutri Pharmaceuticals Research Inc. of Las Vegas. This is another OTC micro-cap:
Gary R.J. Guzzo is the CEO of Medical Cannabis Payment Solutions (REFG : OTC) in Las Vegas.
Why is a Nutri Pharmaceuticals and Cannanbis payments guy involved in a $250 million crypto energy deal? Guzzo’s financials seen above show a penny stock cardiac arrhythmia with Nutri Pharmaceuticals and a flatline with the marijuana business. Who would invest even .10 cents with Guzzo given his past performance?
Summary:
This looks like a layered penny stock promotion dressed up as a crypto-energy infrastructure deal. Every element is a red flag.
The Players:
Riggs Eckelberry (80 years old, Scn OT, Apollo veteran) — CEO of OriginClear (OCLN), an OTC penny stock that has destroyed 99.5% of shareholder value over 5 years. $1.36M quarterly revenue against $8.3M net loss. Negative $40M shareholders’ deficit. 1.6 billion shares outstanding (massive dilution). Nearly two decades of failure. Now pivoting to “OriginSpark” — bitcoin mining energy.
Giannis Andreou (Scn) — CEO of BitMern Mining, Eckelberry’s partner on OriginSpark. His personal website has a terms-of-service that holds himself harmless for essentially everything, including “inaccuracies” and “errors” in the information provided. That’s not a standard business disclaimer — that’s a liability shield for someone expecting to be sued.
Block40X (Clearwater) — co-founded by Benjamin Hoskins. Claims to have “secured land and a 250-megawatt power supply agreement” at under $0.03/kWh. Filed a Reg A offering for $50 million targeting unsophisticated investors, with 10% broker-dealer commissions — the same commission structure that GPB Capital used to move its toxic paper.
Gary R.J. Guzzo — partner of 100MW, LLC (Wyoming/Miami), which is doing a $200 million Reg D offering with Block40X. Guzzo’s other companies: Nutri Pharmaceuticals Research (OTC micro-cap, Las Vegas, flatline chart) and Medical Cannabis Payment Solutions (REFG, OTC, flatline chart). A serial penny stock operator.
100MW, LLC — proposes a bitcoin mining / AI / HPC campus on 47 acres in an unnamed “U.S.-friendly Asian nation” with a 25-year power supply agreement at $0.021/kWh. The country isn’t disclosed. The $200M is Reg D (accredited investors only, less SEC scrutiny).
This looks like a fee extraction machine, not a mining operation. The structure:
Reg A ($50M) from unsophisticated retail investors through Block40X, with 10% going straight to broker-dealers as commissions ($5M off the top)
Reg D ($200M) from accredited investors through 100MW LLC, structured through Wyoming (minimal disclosure state) and deployed to an undisclosed Asian country
$250M total raised, flowing through entities controlled by people with track records of penny stock failures and value destruction
The 25-year power agreement at $0.021/kWh in an unnamed country with no inflation adjustment is fantasy — no legitimate energy contract works this way across
25 years with a fixed dollar rate in a foreign jurisdiction.
The modular container deployment model means minimal fixed assets — easy to walk away from
The Scientology Angles:
Eckelberry provides the public company shell (OCLN) and the “tech” branding (OriginSpark)
Andreou provides the Scn crypto network connections (BitMern Mining)
Block40X is in Clearwater — the geographical hub
The 10% broker-dealer commission mirrors GPB Capital’s distribution model, which is how GPB moved $1.8B in toxic paper — high commissions incentivize brokers to sell regardless of quality
Reg A targets unsophisticated investors — the same population that Scn-affiliated financial schemes consistently prey upon
The Guzzo Problem:
IMO, he’s not there for his operational expertise. He’s there because:
He knows how to file SEC paper (Reg A, Reg D) for micro-cap shells
He knows how to structure offerings that technically comply while being functionally worthless
Bottom Line: An 80-year-old Scn OT who has destroyed 99.5% of shareholder value over 20 years does not suddenly become a crypto mining energy mogul. This is either: (a) a final-act grift by an aging operator squeezing one more scheme out before retirement, or (b) a directed OSA operation to create a new Scn crypto fundraising pipeline using Reg A/Reg D exemptions to avoid full SEC scrutiny while moving $250M through Clearwater-connected entities into an undisclosed foreign jurisdiction.
The undisclosed Asian country is the biggest tell. If you’re raising $250M for infrastructure and you won’t even name the country, you’re not building a data center. You’re building an exit ramp for money that needs to leave the United States without a forwarding address.
The Block40X SEC Form 10Q:
Categories: The Scientology Money Club, The Scientology Money Project
Warren Buffett famously described bitcoin as “a delusion”.
In his more mathematical assessment he described bitcoin as “rat poison squared”.
Even rat brained Hubbard would have not endorsed BitCoin, so his flock members are doing so without even their crazy con fake religion’s (exorcism of Xenu’s R6 implanted Body Thetans is Scientology’s main scam) quackery practice.
There’s nothing good in the Hubbard corner, neither Hubbard, nor his followers that go even further off the deep end.
Riggs at you know used to be an Apollo vet, etc, etc.
Chuck: Riggs has been around Scn forever. That’s why he needs $250 million for to pay for his Bridge; pay for his IAS Patron Exalted Lunatic Status; and his crypto thing.
Agreed, I saw him in passing, when I was a lowly newbie Sea Org staffer in the Flag Service Org, when Riggs was the fellow to the other Apollo vets colleague, he was in Div 6 FSO, did things to get new persons to Flag. He did FSMing for Flag Service Org.
He’s a diehard of deep roots, allegiance to LRH, to the Scientology movement, and has the “cred” in the minds of those who know what Apollo era cred even means in value terms. LRH facetime cred.
In the deeper weeds, even LRH didn’t wish to have all these business ideas wild Scientologists competing and pulling money away from SCientolog’s coffers, and LRH as you well now, built up WISE (the Scientology Hubbard businesses oversight operation to ensure money wasn’t going away from Hubbard’s operation over to them, but money was kept headed for pushing people UP THE BRIDGE and to Hubbard’s operation, as the big goal).
In that context, Riggs is “on board” with the LRH bigger plan, and the problem is the crypto off shoot for people’s money, is a huge massive mistake, since you point out the clear evidence of Riggs’ mistake pushing for it, it’s been a failure like you show.
It’s a massive false move for one’s wealth to go crypto, and even LRH would have seen that, and advised and ordered and made penalties against those (even Riggs) who were directing their money to crypto.
The whole eco system skimming money off the wealthiest Scientologists who really have too much money, that they don’t even notice being skimmed and leeched from, all that sloshing highest piggy banked capital of the richest Scientologists, it’s an area that in big principles from LRH’s viewpoint, are either that money is going to build up Scientology, or it’s being ripped off.
If that sloshing around money is going to Riggs type persons middle men in this sloshing world of surplus wealth of the wealthiest Scientologists, then it best be going into Scientology’s coffers, is those Scientologists who are wealth middle people’s ONLY way to escape LRH’s and official Scientology’s condemnation/ethics.
Yes, what a mess.
Hubbard’s quackery operation demands it’s cut, and doesn’t want money of followers going to other rip offs, that’s LRH’s viewpoint.
If Riggs plays within that LRH viewpoint, he’s on “stable” ground.