Clean Energy Technologies Secures $1M Loan
Ticker: CETY · Form: 8-K · Filed: Sep 13, 2024 · CIK: 1329606
Sentiment: neutral
Topics: debt-financing, material-definitive-agreement, equity-sale
Related Tickers: CETY
TL;DR
CETY just got a $1M loan, but there's more going on with their finances - check the details.
AI Summary
On September 10, 2024, Clean Energy Technologies, Inc. entered into a material definitive agreement, specifically a loan agreement with an unnamed lender for $1,000,000. This agreement creates a direct financial obligation for the company. The filing also notes the creation of an obligation under an off-balance sheet arrangement and unregistered sales of equity securities.
Why It Matters
This $1 million loan provides Clean Energy Technologies with crucial funding, potentially enabling expansion or operational improvements. The associated off-balance sheet arrangements and equity sales warrant further investigation into the company's financial structure.
Risk Assessment
Risk Level: medium — The company has entered into a material definitive agreement for a $1 million loan, which is a direct financial obligation, and also involves unregistered sales of equity securities, indicating potential financial complexities.
Key Numbers
- $1.0M — Loan Amount (Represents new debt financing for the company.)
Key Players & Entities
- Clean Energy Technologies, Inc. (company) — Filer
- $1,000,000 (dollar_amount) — Loan amount
- September 10, 2024 (date) — Date of loan agreement
FAQ
Who is the lender for the $1,000,000 loan?
The filing does not specify the name of the lender for the $1,000,000 loan.
What are the terms of the $1,000,000 loan agreement?
The filing indicates a material definitive agreement for a loan of $1,000,000 but does not detail the specific terms of the agreement.
What is the nature of the off-balance sheet arrangement mentioned?
The filing states the creation of an obligation under an off-balance sheet arrangement but does not provide specific details about its nature.
What type of equity securities were sold unregistered?
The filing mentions unregistered sales of equity securities but does not specify the type or amount of securities sold.
What is the purpose of the $1,000,000 loan?
The filing does not explicitly state the purpose for which Clean Energy Technologies, Inc. obtained the $1,000,000 loan.
Filing Stats: 1,069 words · 4 min read · ~4 pages · Grade level 10.8 · Accepted 2024-09-13 17:00:22
Key Financial Figures
- $0.001 — ch registered Common Stock, par value $0.001 CETY Nasdaq Item 1.01 Entry into
- $750,000 — 22, in the original principal amount of $750,000; and (ii) an amendment to the promissor
- $300,000 — 22, in the original principal amount of $300,000 (collectively, the " Amendments "). Pur
- $612,000 — the Company in the principal amount of $612,000 (the " Note ") for a purchase price of
- $12,000 — shall withhold a non-accountable sum of $12,000 from the purchase price to cover Mast's
- $2.50 — on Stock "), at the conversion price of $2.50 per share, subject to anti-dilution adj
- $1,000,000 — ely received cash proceeds of more than $1,000,000 (the " Minimum Threshold ") in the aggr
- $3,000,000 — ely received cash proceeds of more than $3,000,000 in the aggregate. The Agreement provi
Filing Documents
- form8-k.htm (8-K) — 45KB
- ex10-1.htm (EX-10.1) — 15KB
- ex10-2.htm (EX-10.2) — 187KB
- ex10-3.htm (EX-10.3) — 148KB
- 0001493152-24-036224.txt ( ) — 655KB
- cety-20240913.xsd (EX-101.SCH) — 3KB
- cety-20240913_lab.xml (EX-101.LAB) — 33KB
- cety-20240913_pre.xml (EX-101.PRE) — 24KB
- 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: September 13, 2024