Cyber Enviro-Tech Files Q3 2024 10-Q

TL;DR

CETI filed its Q3 10-Q. Financials updated.

AI Summary

Cyber Enviro-Tech, Inc. filed its 10-Q for the period ending September 30, 2024. The filing details the company's financial performance and position, including information on its preferred and common stock. The company's fiscal year ends on December 31st.

Why It Matters

This filing provides investors with an update on Cyber Enviro-Tech's financial health and operational status for the third quarter of 2024.

Risk Assessment

Risk Level: low — This is a routine quarterly filing providing financial information and does not inherently indicate significant new risks.

Key Numbers

• 2024-09-30 — Reporting Period End Date (Indicates the end of the financial quarter being reported.)
• 2024-11-20 — Filing Date (Shows when the report was officially submitted to the SEC.)

Key Players & Entities

• Cyber Enviro-Tech, Inc. (company) — Filer of the 10-Q
• 2024-09-30 (date) — End of the reporting period
• 2024-11-20 (date) — Filing date
• 2024-11-19 (date) — Date of change

FAQ

Key Financial Figures

• $0.001 — the Act: None Common Stock, par value $0.001 per share (Title of Class) Indicate
• $40,000 — preferred stock to Global for $ 66,400 ($40,000 in cash and 15,000 shares of stock, pos

Filing Documents

• ceti_10q.htm (10-Q) — 1249KB
• ex31x1.htm (EX-31.1) — 7KB
• ex31x2.htm (EX-31.2) — 7KB
• ex32x1.htm (EX-32.1) — 4KB
• 0001079973-24-001592.txt ( ) — 6547KB
• ceti-20240930.xsd (EX-101.SCH) — 59KB
• ceti-20240930_cal.xml (EX-101.CAL) — 64KB
• ceti-20240930_def.xml (EX-101.DEF) — 210KB
• ceti-20240930_lab.xml (EX-101.LAB) — 440KB
• ceti-20240930_pre.xml (EX-101.PRE) — 369KB
• ceti_10q_htm.xml (XML) — 915KB

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 18 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 22 Item 4.

Controls and Procedures

Controls and Procedures 22 PART II. OTHER INFORMATION 23 Item 1.

Legal Proceedings

Legal Proceedings 23 Item 1A.

Risk Factors

Risk Factors 23 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 23 Item 3. Defaults Upon Senior Securities 27 Item 4. Mine Safety Disclosures 27 Item 5. Other Information 27 Item 6. Exhibits 27

—FINANCIAL INFORMATION

PART I—FINANCIAL INFORMATION

Consolidated Financial

Item 1. Consolidated Financial CYBER ENVIRO-TECH, INC. CONSOLIDATED BALANCE SHEETS September 30, 2024 (Unaudited) December 31, 2023 (Audited) ASSETS Current Assets: Cash and cash equivalents $ 119,028 $ 239,417 Accounts receivable 10,666 — Inventory 89,125 — Prepaid expenses and other current assets 376,106 791,536 Total current assets 594,925 1,030,953 Property and equipment 689,964 438,558 Acquired intangible assets, net 985,589 1,070,226 Assets of discontinued operations, non-current 3,496,275 3,330,985 Total Assets $ 5,766,753 $ 5,870,722 LIABILITIES AND STOCKHOLDERS' EQUITY Current Liabilities: Accounts payable $ 131,809 $ 20,144 Accounts payable – related parties 105,708 — Accrued interest 146,731 96,623 Note payables, current maturities 177,500 100,000 Convertible notes payable, net of discount of $ 94,331 and $ 137,096 at September 30, 2024 and December 31, 2023, respectively 229,319 32,154 Convertible notes payable – related parties 22,000 22,000 Liabilities of discontinued operations, current 362,000 462,578 Liabilities of discontinued operations, current – related parties 30,000 80,991 Total current liabilities 1,205,067 814,490 Note payable, related party, net of discount of $ 11,346 and $ 23,915 at September 30, 2024 and December 31, 2023, respectively 142,641 130,074 Convertible notes payable 1,404,000 2,641,000 Derivative liability 181,313 217,177 Liabilities of discontinued operations, non-current 97,463 97,463 Total Liabilities 3,030,484 3,900,204 Commitments and contingencies (Note 4) — Stockholders' Equity: Series A Convertible Preferred Stock, par value $ 0.001 , 200,000 shares authorized; 16,671 shares issued and outstanding 17 17 Series B Convertible Preferred Stock, par value $ 0.001 , 85,000 shares authorized; 1 share issued and outstanding — — Series C N

BUSINESS

BUSINESS Cyber Enviro-Tech, Inc. (the "Company") is a publicly held water science technology company that designs water purification solutions for commercial applications and industries with an initial emphasis on the oil & gas industry. The corporate headquarters are located in Scottsdale, Arizona. On September 3, 2020, Synergy Management Group, LLC ("Synergy") and Global Environmental Technologies, Inc. ("Global"), which was formed on April 20, 2020, entered into a securities purchase agreement, whereby Synergy sold its share of Special 2020 Series A preferred stock and its one-half share of Series C preferred stock to Global for $ 66,400 ($40,000 in cash and 15,000 shares of stock, post reverse split of one share for every 20 shares on April 30, 2021). The shares of stock were to be awarded contingent upon the effectiveness of a S-1 Registration which occurred in January 2023. These shares were issued in 2023. NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of presentation The Company's consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America ("U.S. GAAP"). The consolidated financial statements and related disclosures as of September 30, 2024, are unaudited, pursuant to the rules and regulations of the United States Securities and Exchange Commission (" SEC "). Certain information and footnote disclosures normally included in financial statements prepared in accordance with US GAAP have been condensed or omitted pursuant to such rules and regulations. In our opinion, these unaudited consolidated financial statements include all adjustments (consisting only of normal recurring adjustments) necessary for the fair statement of the results for the interim periods. These unaudited consolidated financial statements should be read in conjunction with the audited financial

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View this 10-Q filing on SEC EDGAR