Clean Energy Technologies Files 2023 Annual Report Amendment

TL;DR

CETY filed its 2023 10-K/A, check for updates on their natural gas biz.

AI Summary

Clean Energy Technologies, Inc. filed an amendment (10-K/A) to its annual report for the fiscal year ending December 31, 2023. The filing, dated June 20, 2024, provides updated information for the company, which is involved in natural gas distribution. The company's principal executive offices are located at 1340 Reynolds Ave, Suite 120, Irvine, CA 92614.

Why It Matters

This amendment to the annual report provides updated financial and operational information for Clean Energy Technologies, Inc., which is crucial for investors and stakeholders to assess the company's performance and outlook.

Risk Assessment

Risk Level: medium — As a 10-K/A filing, it indicates a potential need for corrections or additional disclosures to a previously filed annual report, suggesting a higher level of scrutiny or complexity.

Key Numbers

• 2023-12-31 — Fiscal Year End (The period covered by the amended annual report.)
• 20240620 — Filing Date (The date the amendment was officially submitted to the SEC.)

Key Players & Entities

• Clean Energy Technologies, Inc. (company) — Filer
• 2023-12-31 (date) — Fiscal Year End
• 20240620 (date) — Filing Date
• 1340 REYNOLDS AVE STREET 2: #120, IRVINE CITY: IRVINE STATE: CA ZIP: 92614 (address) — Business Address
• Probe Manufacturing Inc (company) — Former Company Name
• HezeHongyuanNaturalGasCoLtdMember (company) — Subsidiary/Related Entity
• GuangyuanShuxinNewEnergyCoMember (company) — Subsidiary/Related Entity

FAQ

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
• $2,671,700 — Annual Report, (i) we have transferred $2,671,700 in total to our PRC Subsidiaries, and (
• $701,836 — subsidiary in the PRC, has transferred $701,836 in total to Shuya as a capital contribu

Filing Documents

• form10-ka.htm (10-K/A) — 2477KB
• 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
• 0001493152-24-024452.txt ( ) — 11127KB
• 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) — 1567KB

Business

Business 6 Item 1A.

Risk Factors

Risk Factors 20 Item 1B. Unresolved Staff Comments 34 Item 2.

Properties

Properties 34 Item 3.

Legal Proceedings

Legal Proceedings 34 Item 4. Mine Safety Disclosures 34 Part II Item 5. Market for Registrant's Common Equity, related Shareholder Matters and Issuer Purchases of Equity Securities 35 Item 6.

Selected Financial Data

Selected Financial Data 36 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 37 Item 7A. Quantitative and Qualitative Disclosure about Market Risk 44 Item 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 45 Item 9. Changes and Disagreements with Accountants on Accounting and Financial Disclosure 84 Item 9A

Controls and Procedures

Controls and Procedures 84 Part III Item 10 Directors, Executive Officers and Corporate Governance 85 Item 11

Executive Compensation

Executive Compensation 92 Item 12

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

Security Ownership of Certain Beneficial Owners, management and Related Stockholder Matters 93 Item 13 Certain Relationships and Related Transactions and Director Independence 93 Item 14 Principal Accounting Fees and Services 94 Item 15 Exhibits 95

Signatures

Signatures 96 2 Note about Forward-Looking Statements 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 duration or long-term economic and business consequences of the ongoing COVID-19 pandemic; the effects of future regulation; our ability to protect or monetize our intellectual property; changes in United States and Chi

Business

Item 1. 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 t

View Full Filing

View this 10-K/A filing on SEC EDGAR