Clean Energy Technologies Files Q3 2024 10-Q
Ticker: CETY · Form: 10-Q · Filed: Nov 19, 2024 · CIK: 1329606
Sentiment: neutral
Topics: 10-Q, natural-gas, financials
TL;DR
**CETY Q3 10-Q filed. Natural gas biz update.**
AI Summary
Clean Energy Technologies, Inc. filed its 10-Q for the period ending September 30, 2024. The company, formerly Probe Manufacturing Inc., is involved in natural gas distribution. Key entities mentioned include Heze Hongyuan Natural Gas Co., Ltd. and Guangyuan Shuxin New Energy Co. The filing details financial information for the third quarter and the first nine months of 2024.
Why It Matters
This filing provides investors with the latest financial performance and operational details for Clean Energy Technologies, Inc., offering insights into their natural gas distribution business.
Risk Assessment
Risk Level: medium — The company operates in the natural gas distribution sector, which can be subject to regulatory changes and commodity price volatility.
Key Numbers
- Q3 2024 — Reporting Period (Financial results for the third quarter of 2024 are detailed.)
- Nine Months Ended September 30, 2024 — Year-to-Date Period (Financial results for the first nine months of 2024 are detailed.)
Key Players & Entities
- Clean Energy Technologies, Inc. (company) — Filer
- Probe Manufacturing Inc. (company) — Former company name
- Heze Hongyuan Natural Gas Co., Ltd. (company) — Subsidiary/Related Entity
- Guangyuan Shuxin New Energy Co. (company) — Subsidiary/Related Entity
- 2024-09-30 (date) — Reporting period end date
- 2024-11-19 (date) — Filing date
FAQ
What is the primary business of Clean Energy Technologies, Inc.?
Clean Energy Technologies, Inc. is primarily involved in natural gas distribution, as indicated by its SIC code [4924].
When was the 10-Q filing submitted?
The 10-Q filing was submitted on November 19, 2024.
What is the reporting period for this 10-Q?
The reporting period for this 10-Q is the quarter ended September 30, 2024.
Has the company operated under a different name previously?
Yes, the company was formerly known as Probe Manufacturing Inc., with a name change date of June 8, 2005.
Which subsidiaries or related entities are mentioned in the filing?
The filing mentions Heze Hongyuan Natural Gas Co., Ltd. and Guangyuan Shuxin New Energy Co. as related entities.
Filing Stats: 4,429 words · 18 min read · ~15 pages · Grade level 18.8 · Accepted 2024-11-19 17:18:15
Key Financial Figures
- $0.001 — ch registered Common Stock, par value $0.001 CETY Nasdaq Indicate by check mar
- $2,671,700 — of this 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-q.htm (10-Q) — 1951KB
- ex31-01.htm (EX-31.01) — 12KB
- ex31-02.htm (EX-31.02) — 12KB
- ex32-01.htm (EX-32.01) — 6KB
- ex32-02.htm (EX-32.02) — 6KB
- 0001493152-24-046866.txt ( ) — 11106KB
- cety-20240930.xsd (EX-101.SCH) — 72KB
- cety-20240930_cal.xml (EX-101.CAL) — 100KB
- cety-20240930_def.xml (EX-101.DEF) — 353KB
- cety-20240930_lab.xml (EX-101.LAB) — 587KB
- cety-20240930_pre.xml (EX-101.PRE) — 442KB
- form10-q_htm.xml (XML) — 1627KB
Financial Statements
Financial Statements (Expressed in US dollars) September 30, 2024 (unaudited) Financial Consolidated Balance Sheets as of September 30, 2024 and December 31, 2023 (unaudited) 7 Consolidated 8 Consolidated 9 Consolidated 11 Notes to the Consolidated Financial Statements (unaudited) 12 6 Clean Energy Technologies, Inc. Consolidated Balance Sheets (Unaudited) September 30, 2024 December 31, 2023 Assets Current Assets Cash 44,149 $ 89,625 Accounts receivable - net 968,737 1,102,386 Accounts receivable - Related Party 1,082,759 491,774 Accounts receivable 1,082,759 491,774 Advance to supplier - prepayment 605,626 1,048,630 Deferred offering costs 22,750 11,000 Investment Heze Hongyuan Natural Gas Co. 771,476 762,273 Due from related party 106,929 - Loan receivables 187,851 200,826 Investment to Guangyuan Shuxin New Energy Co. 289,560 286,106 Investment 289,560 286,106 Inventory, net 768,454 666,413 Total Current Assets 4,848,291 4,659,033 Non-Current Assets Property & equipment - Net 3,419 4,530 Goodwill 747,976 747,976 Investment LWL 1,468,709 1,468,709 Long Term investment - Shuya 597,564 - Long-term financing receivables - net 1,002,354 902,354 License 354,322 354,322 Patents 82,910 91,817 Right of use asset - long term 209,919 245,975 Other assets 113,647 67,133 Total Non-Current Assets 4,580,820 3,882,816 Assets from discontinued operations 2,386,762 Total Assets 9,429,111 $ 10,928,611 Liabilities and Stockholders' Equity Current Liabilities Accounts payable 1,054,800 506,535 Accounts payable - related party - $ 87,420 Accounts Payable - $ 87,420 Accrued expenses 689,826 451,285 Customer deposits 53,026 165,236 Warranty liability 100,000 100,000 Deferred revenue 33,0