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  <p style="border:none;margin:0in 0in .0001pt;padding:0in;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
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  <h5 style="font-weight:bold;letter-spacing:-.1pt;line-height:normal;margin:0in 0in .0001pt;page-break-after:avoid;text-align:center;text-autospace:none;"><b><font size="5" face="Times New Roman" style="font-size:18.0pt;">UNITED STATES<br>
  SECURITIES AND EXCHANGE COMMISSION</font></b></h5>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Washington, DC 20549</font></b></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <div align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><hr size="1" width="25%" noshade color="black" align="center"></div>
  
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="5" face="Times New Roman" style="font-size:18.0pt;font-weight:bold;">FORM&nbsp;8-K</font></b></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">CURRENT
  REPORT<br>
  Pursuant to Section&nbsp;13 or 15(d)&nbsp;of<br>
  The Securities Exchange Act of 1934</font></b></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Date of Report (Date of earliest event reported)</font></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="font-weight:bold;letter-spacing:-.1pt;margin:0in 0in .0001pt;page-break-after:avoid;text-align:center;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">April&nbsp;30, 2008</font></b></p>
  
  <p style="font-weight:bold;letter-spacing:-.1pt;margin:0in 0in .0001pt;page-break-after:avoid;text-align:center;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></p>
  
  <div align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><hr size="1" width="25%" noshade color="black" align="center"></div>
  
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="5" face="Times New Roman" style="font-size:18.0pt;font-weight:bold;">OPEN ENERGY CORPORATION</font></b></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(Exact name of registrant as specified in its charter)</font></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <div align="center">
  
  <table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
   <tr>
    <td width="32%" valign="top" style="padding:0in .7pt 0in .7pt;width:32.0%;">
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Nevada</font></b></p>
    </td>
    <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
    <p style="margin:0in 0in .0001pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
    </td>
    <td width="32%" valign="top" style="padding:0in .7pt 0in .7pt;width:32.0%;">
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">000-50450</font></b></p>
    </td>
    <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
    <p style="margin:0in 0in .0001pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
    </td>
    <td width="32%" valign="top" style="padding:0in .7pt 0in .7pt;width:32.0%;">
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">98-0370750</font></b></p>
    </td>
   </tr>
   <tr>
    <td width="32%" valign="top" style="padding:0in .7pt 0in .7pt;width:32.0%;">
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(State or other
    jurisdiction of incorporation)</font></p>
    </td>
    <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
    <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
    </td>
    <td width="32%" valign="top" style="padding:0in .7pt 0in .7pt;width:32.0%;">
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(Commission File
    Number)</font></p>
    </td>
    <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
    <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
    </td>
    <td width="32%" valign="top" style="padding:0in .7pt 0in .7pt;width:32.0%;">
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(IRS Employer<br>
    Identification No.)</font></p>
    </td>
   </tr>
  </table>
  
  </div>
  
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">514 Via De La Valle, Suite&nbsp;200<br>
  Solana Beach, California&#160; 92075</font></b></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(Address of principal executive offices, including zip
  code)</font></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">(858) 794-8800</font></b></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(Registrant&#146;s telephone number, including area code)</font></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">N/A</font></b></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(Former name or
  former address, if changed since last report)</font></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Check the appropriate box
  below if the Form&nbsp;8-K filing is intended to simultaneously satisfy the
  filing obligation of the registrant under any of the following provisions (see
  General Instruction A.2. below):</font></p>
  
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="font-size:10.0pt;margin:0in 0in .0001pt 14.25pt;text-indent:-14.25pt;"><font size="2" face="Wingdings" style="font-size:10.0pt;">o</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160; </font>Written
  communications pursuant to Rule&nbsp;425 under the Securities Act (17 CFR
  230.425)</p>
  
  <p style="margin:0in 0in .0001pt 14.25pt;text-indent:-14.25pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="font-size:10.0pt;margin:0in 0in .0001pt 14.25pt;text-indent:-14.25pt;"><font size="2" face="Wingdings" style="font-size:10.0pt;">o</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160; </font>Soliciting
  material pursuant to Rule&nbsp;14a-12 under the Exchange Act (17 CFR
  240.14a-12)</p>
  
  <p style="margin:0in 0in .0001pt 14.25pt;text-indent:-14.25pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="font-size:10.0pt;margin:0in 0in .0001pt 14.25pt;text-indent:-14.25pt;"><font size="2" face="Wingdings" style="font-size:10.0pt;">o</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160; </font>Pre-commencement
  communications pursuant to Rule&nbsp;14d-2(b)&nbsp;under the Exchange Act (17
  CFR 240.14d-2(b))</p>
  
  <p style="margin:0in 0in .0001pt 14.25pt;text-indent:-14.25pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="font-size:10.0pt;letter-spacing:-.1pt;margin:0in 0in .0001pt 14.25pt;text-autospace:none;text-indent:-14.25pt;"><font size="2" face="Wingdings" style="font-size:10.0pt;">o</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160; </font>Pre-commencement communications pursuant to Rule&nbsp;13e-4(c)&nbsp;under
  the Exchange Act (17 CFR 240.13e-4(c))</p>
  
  <p style="letter-spacing:-.1pt;margin:0in 0in .0001pt 14.25pt;text-autospace:none;text-indent:-14.25pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <div style="border:none;border-bottom:double windowtext 6.0pt;padding:0in 0in 0in 0in;">
  
  <p style="border:none;margin:0in 0in .0001pt 1.0in;padding:0in;text-indent:-1.0in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
  
  </div>
  
  <p style="margin:0in 0in .0001pt 1.0in;text-indent:-1.0in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
  
  <div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
  
  </div>
  <!-- SEQ.=1,FOLIO='',FILE='C:\JMS\brosent\08-12977-1\task2907425\12977-1-ba.htm',USER='brosent',CD='Apr 30 16:21 2008' -->
  
  
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  <p style="margin:0in 0in .0001pt 1.0in;text-indent:-1.0in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
  
  <p style="margin:0in 0in .0001pt 1.0in;text-indent:-1.0in;"><b><font size="2" face="Times New Roman"><font style="font-size:10.0pt;font-weight:bold;">Item 1.01.&#160; </font>Entry into a Material Definitive Agreement</font></b></p>
  
  <p style="margin:0in 0in .0001pt 1.0in;text-indent:-1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt;text-autospace:ideograph-numeric ideograph-other;"><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;">Quercus
  Loan</font></i></p>
  
  <p style="margin:0in 0in .0001pt;text-autospace:ideograph-numeric ideograph-other;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt;text-autospace:ideograph-numeric ideograph-other;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">On April&nbsp;30,
  2008, Open Energy Corporation (the &#147;<b>Company, </b>&#147;&#147;<b>we</b>&#148; or &#147;<b>us</b>&#148;) entered
  into a Loan and Security Agreement (the &#147;<b>Loan Agreements</b>&#148;)
  with The Quercus Trust (&#147;<b>Quercus</b>&#148;) and
  issued a promissory note for a loan of up to $3.5 million dollars (the &#147;<b>Loan</b>&#148;).&#160; Pursuant to
  the Loan&#160; Agreement, Quercus agreed to
  loan the Company an amount equal to the lesser of 50% of the Company&#146;s combined
  inventory, accounts receivable and cash balances, and 100% of its qualified
  accounts receivable (as defined in the Loan Agreement) (the &#147;<b>Borrowing Base</b>&#148;), up to a maximum of $3.5 million.&#160; On April&nbsp;30, 2008, Quercus funded
  $1,550,000 to the Company under the Loan.&#160;
  From April&nbsp;30, 2008 through June&nbsp;30, 2008, the Company may
  request additional advances under the Loan Agreements in minimum amounts of at
  least $200,000, as the Company generates additional qualified accounts
  receivable and assuming the Borrowing Base is satisfied.</font></p>
  
  <p style="margin:0in 0in .0001pt;text-autospace:ideograph-numeric ideograph-other;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt;text-autospace:ideograph-numeric ideograph-other;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">All unpaid
  principal under the Loan is due in full on October&nbsp;30, 2008, and the Loan
  may be prepayed in full at any time.&#160; The
  Company is required to make partial prepayments on the Loan upon receipt of any
  rebates included in the accounts receivable portion of the Collateral (defined
  below), and upon determination that the Borrowing Base is not satisfied at
  specified intervals during the term of the Loan.</font></p>
  
  <p style="margin:0in 0in .0001pt;text-autospace:ideograph-numeric ideograph-other;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt;text-autospace:ideograph-numeric ideograph-other;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Interest on the
  Loan is payable in warrants to acquire shares of the Company&#146;s common stock at
  an exercise price of $.506 per share.&#160;
  The total number of warrants that may be issued, assuming the maximum
  Loan amount of $3.5 million is funded is 1,389,096, which the parties agreed
  equates to an 18% per annum interest rate on the Loan.&#160; The warrants have a seven-year term and are
  otherwise substantially similar to the warrants issued to the holders of the
  Company&#146;s Series&nbsp;B Convertible Notes, a form of which was attached as Exhibit&nbsp;4.3
  to the Company&#146;s Current Report on Form&nbsp;8-K filed with the Securities and
  Exchange Commission on September&nbsp;25, 2007.&#160;
  On April&nbsp;30, 2008, the Company issued warrants to acquire 615,171
  shares of the Company&#146;s common stock to Quercus upon the receipt of the
  $1,550,000 described above.</font></p>
  
  <p style="margin:0in 0in .0001pt;text-autospace:ideograph-numeric ideograph-other;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt;text-autospace:ideograph-numeric ideograph-other;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Loan is
  secured by a first priority security interest in all of the Company&#146;s
  inventory, accounts receivable and money and deposit accounts (the &#147;<b>Collateral</b>&#148;). If any event of default occurs under the Loan
  Agreements, Quercus may: (1)&nbsp;declare null and void its obligation to make
  any additional advances under the Loan, (2)&nbsp;require the Company to
  immediately repay the Loan in full, (3)&nbsp;foreclose on the Collateral, and (4)&nbsp;assert
  all other rights and remedies of a lender under applicable law.</font></p>
  
  <p style="margin:0in 0in .0001pt;text-autospace:ideograph-numeric ideograph-other;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt;text-autospace:ideograph-numeric ideograph-other;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Item
  2.03. Creation of Direct Financial Obligation or an Obligation under an
  Off-Balance Sheet Arrangement of a Registrant.</font></b></p>
  
  <p style="margin:0in 0in .0001pt;text-autospace:ideograph-numeric ideograph-other;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt;text-autospace:ideograph-numeric ideograph-other;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The information
  contained in item 1.01 under the heading &#147;<i>Quercus Loan</i>&#148;
  is incorporated herein by reference.</font></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2</font></p>
  
  <div style="margin:0in 0in .0001pt;text-autospace:none;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
  
  </div>
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  <br clear="all" style="page-break-before:always;">
  
  
  <div>
  
  <p style="margin:0in 0in .0001pt;text-autospace:ideograph-numeric ideograph-other;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt;text-autospace:ideograph-numeric ideograph-other;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Item
  3.02.&nbsp;&nbsp;&nbsp; Unregistered Sales of Equity Securities.</font></b></p>
  
  <p style="margin:0in 0in .0001pt;text-autospace:ideograph-numeric ideograph-other;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt;text-autospace:ideograph-numeric ideograph-other;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The information
  contained in Item 1.01 is incorporated herein by reference.</font></p>
  
  <p style="margin:0in 0in .0001pt;text-autospace:ideograph-numeric ideograph-other;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt;text-autospace:ideograph-numeric ideograph-other;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">See Item 1.01 with
  respect to the issuance of certain warrants to acquire shares of the Company&#146;s
  common stock.&nbsp; The issuance of the warrants and underlying shares of
  common stock will be exempt from registration pursuant to Section&nbsp;4(2)&nbsp;of
  the Securities Act of 1933, as amended (the &#147;<b><i style="font-weight:bold;">Securities Act</i></b>&#148;).</font></p>
  
  <p style="margin:0in 0in .0001pt;text-autospace:ideograph-numeric ideograph-other;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt;text-autospace:ideograph-numeric ideograph-other;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">None of the
  warrants described in Item 1.01 or the underlying shares of common stock which
  may be issued upon the exercise of such warrants may be offered or sold in the
  United States in the absence of an effective registration statement or an
  exemption from the registration requirements under the Securities Act. An
  appropriate legend will be placed on the shares of common stock issued upon any
  conversion of the Note or upon any exercise of the Warrant, unless registered
  under the Securities Act prior to issuance.</font></p>
  
  <p style="margin:0in 0in .0001pt;text-autospace:ideograph-numeric ideograph-other;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt;text-autospace:ideograph-numeric ideograph-other;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Item
  3.03.&nbsp;&nbsp;&nbsp; Material Modification to Rights of Security Holders.</font></b></p>
  
  <p style="margin:0in 0in .0001pt;text-autospace:ideograph-numeric ideograph-other;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt;text-autospace:ideograph-numeric ideograph-other;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The information
  contained in Item 1.01 is incorporated herein by reference.</font></p>
  
  <p style="margin:0in 0in .0001pt;text-autospace:ideograph-numeric ideograph-other;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt;text-autospace:ideograph-numeric ideograph-other;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Pursuant to the
  Loan Agreement, the terms of which are described under Item 1.01, the Company
  may not declare or pay any cash dividend or distribution on its capital stock
  without the prior express written consent of Quercus.</font></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:ideograph-numeric ideograph-other;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt;text-autospace:ideograph-numeric ideograph-other;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Item
  8.01.&nbsp;&nbsp;&nbsp; Other Events.</font></b></p>
  
  <p style="margin:0in 0in .0001pt;text-autospace:ideograph-numeric ideograph-other;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt;text-autospace:ideograph-numeric ideograph-other;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">On April 30, 2008,
  the Company repaid all remaining principal amounts outstanding pursuant to the
  series of Secured Convertible Debenture (the &#147;YA Global Debenture&#148;) issued by
  the Company in 2007 to YA Global Investments, L.P., and its affiliates
  (formerly known as Cornell Capital Partners, L.P.).&#160;&#160; The total payment, which included principal
  and accrued interest, totaled approximately $3.3 million.&#160; The YA Global Debenture was the only
  remaining convertible debenture held by YA Global Investments in the Company&#146;s
  capital structure.&#160; </font></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:ideograph-numeric ideograph-other;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:ideograph-numeric ideograph-other;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">3</font></p>
  
  <div style="margin:0in 0in .0001pt;text-autospace:ideograph-numeric ideograph-other;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
  
  </div>
  <!-- SEQ.=1,FOLIO='3',FILE='C:\JMS\brosent\08-12977-1\task2907425\12977-1-ba.htm',USER='brosent',CD='Apr 30 16:21 2008' -->
  
  
  <br clear="all" style="page-break-before:always;">
  
  
  <div>
  
  <p style="margin:0in 0in .0001pt;text-autospace:ideograph-numeric ideograph-other;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <h4 style="font-weight:bold;letter-spacing:-.1pt;line-height:normal;margin:0in 0in .0001pt;page-break-after:avoid;text-align:center;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">SIGNATURES</font></b></h4>
  
  <h4 style="font-weight:bold;letter-spacing:-.1pt;line-height:normal;margin:0in 0in .0001pt;page-break-after:avoid;text-align:center;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></h4>
  
  <p style="letter-spacing:-.1pt;margin:0in 0in .0001pt;text-autospace:none;text-indent:37.05pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">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.</font></p>
  
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <div align="center">
  
  <table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
   <tr>
    <td width="49%" valign="top" style="padding:0in .7pt 0in .7pt;width:49.0%;">
    <h6 align="center" style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;text-align:center;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:normal;">&nbsp;</font></b></h6>
    </td>
    <td width="3%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:3.22%;">
    <h6 style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></b></h6>
    </td>
    <td width="47%" colspan="2" valign="top" style="padding:0in .7pt 0in .7pt;width:47.78%;">
    <h6 style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:avoid;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">OPEN ENERGY CORPORATION</font></b></h6>
    </td>
   </tr>
   <tr>
    <td width="49%" valign="top" style="padding:0in .7pt 0in .7pt;width:49.0%;">
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
    </td>
    <td width="3%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:3.22%;">
    <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
    </td>
    <td width="47%" colspan="2" valign="top" style="padding:0in .7pt 0in .7pt;width:47.78%;">
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
    </td>
   </tr>
   <tr>
    <td width="49%" valign="top" style="padding:0in .7pt 0in .7pt;width:49.0%;">
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
    </td>
    <td width="3%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:3.22%;">
    <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">By:</font></p>
    </td>
    <td width="23%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in .7pt 0in .7pt;width:23.9%;">
    <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">/s/ Dalton W. Sprinkle</font></p>
    </td>
    <td width="23%" valign="top" style="padding:0in .7pt 0in .7pt;width:23.9%;">
    <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
    </td>
   </tr>
   <tr>
    <td width="49%" valign="top" style="padding:0in .7pt 0in .7pt;width:49.0%;">
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
    </td>
    <td width="3%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:3.22%;">
    <p style="margin:0in 0in .0001pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
    </td>
    <td width="47%" colspan="2" valign="top" style="padding:0in .7pt 0in .7pt;width:47.78%;">
    <p style="margin:0in 0in .0001pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Dalton
    W. Sprinkle<br>
    General Counsel</font></b></p>
    </td>
   </tr>
  </table>
  
  </div>
  
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Date:&#160; April&nbsp;30, 2008</font></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">4</font></p>
  
  <div style="margin:0in 0in .0001pt;text-autospace:none;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
  
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  </div>
  <!-- SEQ.=1,FOLIO='4',FILE='C:\JMS\brosent\08-12977-1\task2907425\12977-1-ba.htm',USER='brosent',CD='Apr 30 16:21 2008' -->
  
  
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metadata_documents: [{"type": "8-K", "sequence": "1", "filename": "a08-12977_18k.htm", "description": "8-K", "secsgml_size_bytes": 30275}]
metadata_filer: {"company-data": {"conformed-name": "OPEN ENERGY CORP", "cik": "0001176193", "assigned-sic": "1311", "irs-number": "980370750", "state-of-incorporation": "NV", "fiscal-year-end": "0531"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-50450", "film-number": "08791013"}, "business-address": {"street1": "514 VIA DE LA VALLE", "street2": "SUITE 200", "city": "SOLANA BEACH", "state": "CA", "zip": "92075", "phone": "(858) 794-8800"}, "mail-address": {"street1": "514 VIA DE LA VALLE", "street2": "SUITE 200", "city": "SOLANA BEACH", "state": "CA", "zip": "92075"}, "former-company": [{"former-conformed-name": "BARNABUS ENERGY, INC.", "date-changed": "20050822"}, {"former-conformed-name": "BARNABUS ENTERPRISES LTD", "date-changed": "20020621"}]}
text: UNITED STATES
  SECURITIES AND EXCHANGE COMMISSION
  Washington, DC 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)
  April 30, 2008
  OPEN ENERGY CORPORATION
  (Exact name of registrant as specified in its charter)
  Nevada
  000-50450
  98-0370750
  (State or other
    jurisdiction of incorporation)
  (Commission File
    Number)
  (IRS Employer
  Identification No.)
  514 Via De La Valle, Suite 200
  Solana Beach, California  92075
  (Address of principal executive offices, including zip
  code)
  (858) 794-8800
  (Registrant's telephone number, including area code)
  N/A
  (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 (see
  General Instruction A.2. below):
  o
  Written
  communications pursuant to Rule 425 under the Securities Act (17 CFR
  230.425)
  o
  Soliciting
  material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
  240.14a-12)
  o
  Pre-commencement
  communications pursuant to Rule 14d-2(b) under the Exchange Act (17
  CFR 240.14d-2(b))
  o
  Pre-commencement communications pursuant to Rule 13e-4(c) under
  the Exchange Act (17 CFR 240.13e-4(c))
  Item 1.01.
  Entry into a Material Definitive Agreement
  Quercus
  Loan
  On April 30,
  2008, Open Energy Corporation (the "
  Company,
  ""
  we
  " or "
  us
  ") entered
  into a Loan and Security Agreement (the "
  Loan Agreements
  ")
  with The Quercus Trust ("
  Quercus
  ") and
  issued a promissory note for a loan of up to $3.5 million dollars (the "
  Loan
  ").  Pursuant to
  the Loan  Agreement, Quercus agreed to
  loan the Company an amount equal to the lesser of 50% of the Company's combined
  inventory, accounts receivable and cash balances, and 100% of its qualified
  accounts receivable (as defined in the Loan Agreement) (the "
  Borrowing Base
  "), up to a maximum of $3.5 million.  On April 30, 2008, Quercus funded
  $1,550,000 to the Company under the Loan. 
  From April 30, 2008 through June 30, 2008, the Company may
  request additional advances under the Loan Agreements in minimum amounts of at
  least $200,000, as the Company generates additional qualified accounts
  receivable and assuming the Borrowing Base is satisfied.
  All unpaid
  principal under the Loan is due in full on October 30, 2008, and the Loan
  may be prepayed in full at any time.  The
  Company is required to make partial prepayments on the Loan upon receipt of any
  rebates included in the accounts receivable portion of the Collateral (defined
  below), and upon determination that the Borrowing Base is not satisfied at
  specified intervals during the term of the Loan.
  Interest on the
  Loan is payable in warrants to acquire shares of the Company's common stock at
  an exercise price of $.506 per share. 
  The total number of warrants that may be issued, assuming the maximum
  Loan amount of $3.5 million is funded is 1,389,096, which the parties agreed
  equates to an 18% per annum interest rate on the Loan.  The warrants have a seven-year term and are
  otherwise substantially similar to the warrants issued to the holders of the
  Company's Series B Convertible Notes, a form of which was attached as Exhibit 4.3
  to the Company's Current Report on Form 8-K filed with the Securities and
  Exchange Commission on September 25, 2007. 
  On April 30, 2008, the Company issued warrants to acquire 615,171
  shares of the Company's common stock to Quercus upon the receipt of the
  $1,550,000 described above.
  The Loan is
  secured by a first priority security interest in all of the Company's
  inventory, accounts receivable and money and deposit accounts (the "
  Collateral
  "). If any event of default occurs under the Loan
  Agreements, Quercus may: (1) declare null and void its obligation to make
  any additional advances under the Loan, (2) require the Company to
  immediately repay the Loan in full, (3) foreclose on the Collateral, and (4) assert
  all other rights and remedies of a lender under applicable law.
  Item
  2.03. Creation of Direct Financial Obligation or an Obligation under an
  Off-Balance Sheet Arrangement of a Registrant.
  The information
  contained in item 1.01 under the heading "
  Quercus Loan
  "
  is incorporated herein by reference.
  2
  Item
  3.02.    Unregistered Sales of Equity Securities.
  The information
  contained in Item 1.01 is incorporated herein by reference.
  See Item 1.01 with
  respect to the issuance of certain warrants to acquire shares of the Company's
  common stock.  The issuance of the warrants and underlying shares of
  common stock will be exempt from registration pursuant to Section 4(2) of
  the Securities Act of 1933, as amended (the "
  Securities Act
  ").
  None of the
  warrants described in Item 1.01 or the underlying shares of common stock which
  may be issued upon the exercise of such warrants may be offered or sold in the
  United States in the absence of an effective registration statement or an
  exemption from the registration requirements under the Securities Act. An
  appropriate legend will be placed on the shares of common stock issued upon any
  conversion of the Note or upon any exercise of the Warrant, unless registered
  under the Securities Act prior to issuance.
  Item
  3.03.    Material Modification to Rights of Security Holders.
  The information
  contained in Item 1.01 is incorporated herein by reference.
  Pursuant to the
  Loan Agreement, the terms of which are described under Item 1.01, the Company
  may not declare or pay any cash dividend or distribution on its capital stock
  without the prior express written consent of Quercus.
  Item
  8.01.    Other Events.
  On April 30, 2008,
  the Company repaid all remaining principal amounts outstanding pursuant to the
  series of Secured Convertible Debenture (the "YA Global Debenture") issued by
  the Company in 2007 to YA Global Investments, L.P., and its affiliates
  (formerly known as Cornell Capital Partners, L.P.).   The total payment, which included principal
  and accrued interest, totaled approximately $3.3 million.  The YA Global Debenture was the only
  remaining convertible debenture held by YA Global Investments in the Company's
  capital structure.
  3
  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.
  OPEN ENERGY CORPORATION
  By:
  /s/ Dalton W. Sprinkle
  Dalton
    W. Sprinkle
  General Counsel
  Date:  April 30, 2008
  4