Clean Energy Technologies Secures $1M Promissory Note
Ticker: CETY · Form: 8-K · Filed: Jun 26, 2024 · CIK: 1329606
Sentiment: mixed
Topics: debt, equity-sale, financing
TL;DR
Clean Energy Tech just got a $1M loan, but also sold some stock unregistered. Watch for dilution.
AI Summary
On June 21, 2024, Clean Energy Technologies, Inc. entered into a material definitive agreement, specifically a promissory note with an aggregate principal amount of $1,000,000. This agreement creates a direct financial obligation for the company. The filing also notes unregistered sales of equity securities.
Why It Matters
This $1 million promissory note provides Clean Energy Technologies with crucial funding, potentially enabling expansion or operational improvements. The unregistered sale of equity securities may indicate dilution for existing shareholders.
Risk Assessment
Risk Level: medium — The company has entered into a significant financial obligation and has also engaged in unregistered sales of equity, which can signal potential financial distress or dilution.
Key Numbers
- $1.0M — Promissory Note Principal (Represents a new financial obligation for the company.)
Key Players & Entities
- Clean Energy Technologies, Inc. (company) — Filer
- $1,000,000 (dollar_amount) — Principal amount of promissory note
- June 21, 2024 (date) — Date of promissory note agreement
- June 26, 2024 (date) — Date of report
FAQ
What are the terms of the $1,000,000 promissory note?
The filing indicates the entry into a promissory note with an aggregate principal amount of $1,000,000, but specific terms are not detailed in this summary.
Who is the lender for the $1,000,000 promissory note?
The identity of the lender is not specified in the provided text.
What was the purpose of the unregistered sale of equity securities?
The purpose of the unregistered sale of equity securities is not detailed in the provided text.
What is the interest rate on the promissory note?
The interest rate for the $1,000,000 promissory note is not mentioned in the provided text.
When is the maturity date for the promissory note?
The maturity date for the $1,000,000 promissory note is not specified in the provided text.
Filing Stats: 985 words · 4 min read · ~3 pages · Grade level 11.4 · Accepted 2024-06-26 16:30:20
Key Financial Figures
- $0.001 — ch registered Common Stock, par value $0.001 CETY Nasdaq Item 1.01 Entry into
- $12 m — to loan to VRG the principal amount of $12 million, to be disbursed in tranches base
- $12 million — annum. Under the Loan Agreement, the $12 million loan shall be secured by (i) two contra
Filing Documents
- form8-k.htm (8-K) — 43KB
- ex10-1.htm (EX-10.1) — 5KB
- ex10-2.htm (EX-10.2) — 2KB
- ex10-3.htm (EX-10.3) — 2KB
- ex10-4.htm (EX-10.4) — 3KB
- ex10-4_001.jpg (GRAPHIC) — 393KB
- ex10-4_002.jpg (GRAPHIC) — 271KB
- ex10-4_003.jpg (GRAPHIC) — 232KB
- ex10-4_004.jpg (GRAPHIC) — 79KB
- ex10-1_001.jpg (GRAPHIC) — 324KB
- ex10-1_002.jpg (GRAPHIC) — 236KB
- ex10-1_003.jpg (GRAPHIC) — 345KB
- ex10-1_004.jpg (GRAPHIC) — 297KB
- ex10-1_005.jpg (GRAPHIC) — 268KB
- ex10-1_006.jpg (GRAPHIC) — 76KB
- ex10-1_007.jpg (GRAPHIC) — 59KB
- ex10-2_001.jpg (GRAPHIC) — 344KB
- ex10-2_002.jpg (GRAPHIC) — 164KB
- ex10-3_001.jpg (GRAPHIC) — 321KB
- ex10-3_002.jpg (GRAPHIC) — 321KB
- ex10-3_003.jpg (GRAPHIC) — 134KB
- 0001493152-24-025276.txt ( ) — 5551KB
- cety-20240626.xsd (EX-101.SCH) — 3KB
- cety-20240626_lab.xml (EX-101.LAB) — 33KB
- cety-20240626_pre.xml (EX-101.PRE) — 22KB
- form8-k_htm.xml (XML) — 4KB
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Company has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Clean Energy Technologies, Inc. /s/ Kambiz Mahdi By: Kambiz Mahdi Chief Executive Officer Date: June 26, 2024