Thunder Energies Corporation (OTCMKTS:TNRG) Files An 8-K Other EventsItem 8.01 Other Events.
On December 12, 2017, Thunder Energies Corporation (the “Company”) issued a press release to announce the delivery of its Directional Neutron Source Model TEC-DNS-05 product. The product was delivered to the purchaser in Prague of the Czech Republic. The following is the link to such press release: http://www.globenewswire.com/news-release/2017/12/12/1253314/0/en/Thunder-Energies-Confirms-the-Directionality-of-the-Neutron-Source-and-its-Delivery-to-Europe.html.
The Company had previously disclosed in its Form 10-Q for the period ending September 30, 2017 that it had received a down payment regarding the aforementioned sale of its product. The amount of $170,012 was recorded as a “deposit” on the Company’s balance sheet. The Notes to Financial Statements reflect in Note 8-Commitments and Contingencies, the following information:
“NOTE 8 – COMMITMENTS AND CONTINGENCIES
On June 2, 2017 the Company received a down payment of $120,067 for the construction and delivery of a Directional Neutron Source Model TEC-DNS-05. The total contract amount is $194,481. On September 8, 2017 the Company received additional payment of $49,945 for the construction and delivery of the Directional Neutron Source Model TEC-DNS-05. The balance of $24,469 is due on delivery. Delivery is schedule for six (6) months from the date of deposit which was June 2, 2017.”
Company principals confirmed this date that the final installment of approximately $24,469 due under the contract has been received by the Company. The previous “Deposit” of $170,012 entered on the Company’s balance sheet for the period ending September 30, 2017 will be recorded as revenue for the fourth quarter of 2017.
About Thunder Energies Corporation (OTCMKTS:TNRG)
Thunder Energies Corporation (TEC), formerly Thunder Fusion Corporation, is a development-stage company. The Company is focused on the development of a clean combustion of fossil fuels (oil, diesel and coal, among others) with controlled minimal contaminants in the exhaust. Its business objective is achieved via forms of processing fossil fuels, new additives to the combustion and the assistance of a high voltage electric discharges that burn combustible contaminants in fossil fuel exhaust while providing added on clean energy. The Company is a developer of technologies that are being brought to market by three divisions: Division of Optical Instruments (TEC-DOI); Division of Nuclear Instruments (TEC-DNI), and Division of Fuel Combustion (TEC-DFC). TEC-division of equipment (DOE) is engaged in the production and sale of pairs of Galileo and Santilli telescopes with approximately 70 millimeters (mm), over 100 mm and approximately 150 mm.