Clean Energy Technologies, Inc. Files 10-K/A Amendment

TL;DR

<b>Clean Energy Technologies, Inc. filed a 10-K/A amendment for the fiscal year ending December 31, 2023.</b>

AI Summary

Clean Energy Technologies, Inc. (CETY) filed a Amended Annual Report (10-K/A) with the SEC on April 19, 2024. Clean Energy Technologies, Inc. filed a 10-K/A amendment on April 19, 2024. The filing pertains to the fiscal year ending December 31, 2023. The company's principal business is Natural Gas Distribution. The company was formerly known as Probe Manufacturing Inc. The filing includes data related to various equity and preferred stock members.

Why It Matters

For investors and stakeholders tracking Clean Energy Technologies, Inc., this filing contains several important signals. This amended filing provides updated financial and operational information for the fiscal year 2023, which is crucial for investors to assess the company's current performance and future outlook. The inclusion of detailed financial data, including equity and preferred stock information, allows stakeholders to understand the company's capital structure and potential dilution.

Risk Assessment

Risk Level: medium — Clean Energy Technologies, Inc. shows moderate risk based on this filing. The company's filing is an amendment (10-K/A), suggesting potential prior inaccuracies or omissions that require correction, which could indicate underlying operational or reporting issues.

Analyst Insight

Investors should review the specific changes made in this 10-K/A filing to understand the reasons for the amendment and their potential impact on the company's financial health.

Key Numbers

• 2023-12-31 — Fiscal Year End (Period of report)
• 2024-04-19 — Filing Date (Date of filing)
• 4924 — SIC Code (Natural Gas Distribution)
• 001-41654 — SEC File Number (SEC filing identifier)

Key Players & Entities

• Clean Energy Technologies, Inc. (company) — Filer name
• Probe Manufacturing Inc (company) — Former company name
• 2024-04-19 (date) — Filing date
• 2023-12-31 (date) — Fiscal year end
• 4924 (other) — Standard Industrial Classification for Natural Gas Distribution
• NV (other) — State of Incorporation
• 001-41654 (other) — SEC File Number
• Heze Hongyuan Natural Gas Co Ltd (company) — Subsidiary/Member

FAQ

Risk Factors

• Filing Amendment [medium — regulatory]: The filing is an amended 10-K (10-K/A), indicating that the original filing may have contained errors or omissions that are now being corrected.

Industry Context

Clean Energy Technologies, Inc. operates within the Natural Gas Distribution sector, a critical part of the energy infrastructure.

Regulatory Implications

The filing is a 10-K/A, an amendment to the annual report, which is subject to SEC regulations for accuracy and completeness.

What Investors Should Do

1. Review the specific amendments made in the 10-K/A filing for any material changes.
2. Analyze the company's financial position and operational details for the fiscal year 2023.
3. Investigate the nature of the subsidiaries and preferred stock mentioned in the filing.

Key Dates

• 2024-04-19: 10-K/A Filing — Amendment filed for the fiscal year ending 2023-12-31.
• 2023-12-31: Fiscal Year End — The reporting period for the financial data presented in the filing.

Year-Over-Year Comparison

This is an amended filing (10-K/A), indicating a revision to previously submitted information for the fiscal year 2023.

Key Financial Figures

• $0.001 — ch registered Common Stock, par value $0.001 CETY NASDAQ Securities registered
• $1.75 — non-affiliates and the closing price of $1.75 per share. Accordingly, effective as of
• $75 million — 's aggregate market value was less than $75 million and the registrant qualifies for "small
• $8 million — Gas, we will be required to contribute $8 million to the joint venture which plans to rai

Filing Documents

• form10-ka.htm (10-K/A) — 2400KB
• ex4-13.htm (EX-4.13) — 15KB
• ex10-136.htm (EX-10.136) — 27KB
• ex10-137.htm (EX-10.137) — 24KB
• ex21-1.htm (EX-21.1) — 2KB
• ex23-1.htm (EX-23.1) — 3KB
• ex31-1.htm (EX-31.1) — 8KB
• ex31-2.htm (EX-31.2) — 9KB
• ex32-1.htm (EX-32.1) — 4KB
• ex32-2.htm (EX-32.2) — 4KB
• form10-k_001.jpg (GRAPHIC) — 6KB
• form10-k_002.jpg (GRAPHIC) — 10KB
• form10-k_003.jpg (GRAPHIC) — 4KB
• form10-k_004.jpg (GRAPHIC) — 9KB
• form10-k_007.jpg (GRAPHIC) — 2KB
• form10-k_008.jpg (GRAPHIC) — 11KB
• form10-k_009.jpg (GRAPHIC) — 4KB
• image_001.jpg (GRAPHIC) — 2KB
• 0001493152-24-015378.txt (&nbsp;) — 11123KB
• cety-20231231.xsd (EX-101.SCH) — 78KB
• cety-20231231_cal.xml (EX-101.CAL) — 83KB
• cety-20231231_def.xml (EX-101.DEF) — 376KB
• cety-20231231_lab.xml (EX-101.LAB) — 576KB
• cety-20231231_pre.xml (EX-101.PRE) — 457KB
• form10-ka_htm.xml (XML) — 1566KB

Business

Business 4 Item 1A.

Risk Factors

Risk Factors 18 Item 1B. Unresolved Staff Comments 28 Item 2.

Properties

Properties 28 Item 3.

Legal Proceedings

Legal Proceedings 28 Item 4. Mine Safety Disclosures 28 Part II Item 5. Market for Registrant's Common Equity, related Shareholder Matters and Issuer Purchases of Equity Securities 29 Item 6.

Selected Financial Data

Selected Financial Data 30 Item 7.

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

Management's Discussion and Analysis of Financial Condition and Results of Operation 31 Item 7A. Quantitative and Qualitative Disclosure about Market Risk 38 Item 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 39 Item 9. Changes and Disagreements with Accountants on Accounting and Financial Disclosure 78 Item 9A

Controls and Procedures

Controls and Procedures 78 Part III Item 10 Directors, Executive Officers and Corporate Governance 79 Item 11

Executive Compensation

Executive Compensation 86 Item 12

Security Ownership of Certain Beneficial Owners, management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners, management and Related Stockholder Matters 86 Item 13 Certain Relationships and Related Transactions and Director Independence 87 Item 14 Principal Accounting Fees and Services 88 Item 15 Exhibits 89

Signatures

Signatures 90 2 NOTE ABOUT FORWARD-LOOKING STATEMENTS In this Annual Report on Form 10-K, references to "Clean Energy Technologies," the "Company," "we," "us," "our" and words of similar import refer to Clean Energy Technologies, Inc., unless the context requires otherwise. This Annual Report contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. In some cases, you can identify forward-looking statements by the following words: "anticipate," "believe," "continue," "could," "estimate," "expect," "intend," "may," "ongoing," "plan," "potential," "predict," "project," "should," "will," "would," or the negative of these terms or other comparable terminology, although not all forward-looking statements contain these words. Forward-looking statements are not a guarantee of future performance or results and will not necessarily be accurate indications of the times at, or by, which such performance or results will be achieved. Forward-looking and other factors that may cause our results, levels of activity, performance or achievements to be materially different from the information expressed or implied by the forward-looking statements in this report. Forward-looking our possible or assumed future results of operations; our business strategies; our ability to attract and retain customers; our ability to sell additional products and services to customers; our cash needs and financing plans; our competitive position; our industry environment; our potential growth opportunities; expected technological advances by us or by third parties and our ability to leverage them; Our inability to predict or anticipate the du

BUSINESS

BUSINESS General The Company's business and operating results are directly affected by changes in overall customer demand, operational costs and performance and leverage of our fixed cost and selling, general and administrative ("SG&A") infrastructure. Product sales fluctuate in response to several factors including many that are beyond the Company's control, such as general economic conditions, interest rates, government regulations, consumer spending, labor availability, and our customers' production rates and inventory levels. Product sales consist of demand from customers in many different markets with different levels of cyclicality and seasonality. Operating performance is dependent on the Company's ability to manage changes in input costs for items such as raw materials, labor, and overhead operating costs. Performance is also affected by manufacturing efficiencies, including items such as on time delivery, quality, scrap, and productivity. Market factors of supply and demand can impact operating costs. Who We Are We develop renewable energy products and solutions and establish partnerships in renewable energy that make environmental and economic sense. Our mission is to be a segment leader in the Zero Emission Revolution by offering eco-friendly green energy solutions, clean energy fuels and alternative electric power for small and mid-sized projects in North America, Europe, and Asia. We target sustainable energy solutions that are profitable for us, profitable for our customers and represent the future of global energy production. Our principal businesses Waste Heat Recovery Solutions – we recycle wasted heat produced in manufacturing, waste to energy and power generation facilities using our patented Clean Cycle TM generator to create electricity which can be recycled or sold to the grid. Waste to Energy Solutions - we convert waste products created in manufacturing, agriculture, wastewater treatment plants and other industries to electr

Business

Business and Segment Information We design, produce and market clean energy products and integrated solutions focused on energy efficiency and renewable energy. Our aim is to become a leading provider of renewable and energy efficiency products and solutions by helping commercial companies and municipalities reduce energy waste and emissions, lower energy costs and generate incremental revenue by providing electricity, renewable natural gas and biochar to the grid. Segment Information Our four segments for accounting purposes are: Clean Energy HRS & CETY Europe – Our Waste Heat Recovery Solutions, converting thermal energy to zero emission electricity. CETY Renewables Waste to Energy Solutions – Providing Waste to Energy technologies and solutions. Engineering and Manufacturing Business – providing customers with comprehensive design, manufacturing, and project management solutions. CETY HK – The parent company of our NG trading operations in China. Prior to the first quarter of 2022 the Company had three reportable segments but added the CETY HK segment to reflect its recent new businesses in China. Our Clean Energy Solutions Business Waste Heat Recovery Solutions We provide our customers with power plants that capture wasted heat energy and produce electricity using a unique Organic Rankine Cycle (ORC) system containing our Clean Cycle TM generator. Our magnetic bearing Integrated Power Modules is at the heart of our Clean Cycle TM generator which can fit into a standard cargo container we call our Containerized System Module, producing 140KW per Clean Cycle generator and can be linked together for projects generating up to 1MW of power. Our recent agreement with Enertime now permits us to install midsized and large ORC systems (between 1 MW and 10 MW) in the United States, allowing us to offer a full range of ORC systems to our customers. We believe this new capacity will enable us to expand our product offerings into larger scale waste rec

View Full Filing

View this 10-K/A filing on SEC EDGAR