ClearSign Technologies Corp. Files 2023 Annual Report on Form 10-K

Ticker: CLIR · Form: 10-K · Filed: Apr 1, 2024 · CIK: 1434524

Sentiment: neutral

Topics: 10-K, Annual Report, ClearSign Technologies, Industrial Instruments, Financials

TL;DR

<b>ClearSign Technologies Corp. has filed its 2023 10-K annual report detailing its financial performance and business operations for the fiscal year ending December 31, 2023.</b>

AI Summary

ClearSign Technologies Corp (CLIR) filed a Annual Report (10-K) with the SEC on April 1, 2024. ClearSign Technologies Corp. filed its 2023 10-K report on April 1, 2024. The filing covers the fiscal year ending December 31, 2023. The company's principal executive offices are located in Tulsa, Oklahoma. ClearSign Technologies Corp. was formerly known as ClearSign Combustion Corp. The SIC code for the company is 3823 (Industrial Instruments for Measurement, Display, and Control).

Why It Matters

For investors and stakeholders tracking ClearSign Technologies Corp, this filing contains several important signals. The 10-K filing provides a comprehensive overview of ClearSign's financial health, operational activities, and strategic direction for investors and stakeholders. This annual report is crucial for understanding the company's progress, risks, and future outlook in the industrial instruments sector.

Risk Assessment

Risk Level: — ClearSign Technologies Corp shows moderate risk based on this filing. The company's financial performance and ability to achieve profitability are subject to market conditions and the successful commercialization of its technologies, as indicated by its ongoing operations and historical financial data.

Analyst Insight

Investors should review the detailed financial statements and risk factors in the 10-K to assess ClearSign's growth potential and operational challenges.

Key Numbers

Key Players & Entities

FAQ

When did ClearSign Technologies Corp file this 10-K?

ClearSign Technologies Corp filed this Annual Report (10-K) with the SEC on April 1, 2024.

What is a 10-K filing?

A 10-K is a comprehensive annual financial report required by the SEC, covering audited financials, business operations, risk factors, and management discussion. This particular 10-K was filed by ClearSign Technologies Corp (CLIR).

Where can I read the original 10-K filing from ClearSign Technologies Corp?

You can access the original filing directly on the SEC's EDGAR system. The filing is publicly available and includes all exhibits and attachments submitted by ClearSign Technologies Corp.

What are the key takeaways from ClearSign Technologies Corp's 10-K?

ClearSign Technologies Corp filed this 10-K on April 1, 2024. Key takeaways: ClearSign Technologies Corp. filed its 2023 10-K report on April 1, 2024.. The filing covers the fiscal year ending December 31, 2023.. The company's principal executive offices are located in Tulsa, Oklahoma..

Is ClearSign Technologies Corp a risky investment based on this filing?

Based on this 10-K, ClearSign Technologies Corp presents a moderate-risk profile. The company's financial performance and ability to achieve profitability are subject to market conditions and the successful commercialization of its technologies, as indicated by its ongoing operations and historical financial data.

What should investors do after reading ClearSign Technologies Corp's 10-K?

Investors should review the detailed financial statements and risk factors in the 10-K to assess ClearSign's growth potential and operational challenges. The overall sentiment from this filing is neutral.

How does ClearSign Technologies Corp compare to its industry peers?

ClearSign Technologies Corp. operates in the industrial instruments sector, focusing on measurement, display, and control technologies.

Are there regulatory concerns for ClearSign Technologies Corp?

The company is subject to SEC regulations for public filings, including the annual 10-K report.

Industry Context

ClearSign Technologies Corp. operates in the industrial instruments sector, focusing on measurement, display, and control technologies.

Regulatory Implications

The company is subject to SEC regulations for public filings, including the annual 10-K report.

What Investors Should Do

  1. Review the detailed financial statements for revenue, net income, and cash flow.
  2. Analyze the risk factors section for potential business challenges and mitigation strategies.
  3. Examine management's discussion and analysis for insights into operational performance and future outlook.

Key Dates

Year-Over-Year Comparison

This is the initial filing analyzed, so no comparison to a previous filing is available.

Filing Stats: 4,424 words · 18 min read · ~15 pages · Grade level 17.7 · Accepted 2024-04-01 07:02:23

Key Financial Figures

Filing Documents

: BUSINESS

ITEM 1: BUSINESS 2

: RISK FACTORS

ITEM 1A: RISK FACTORS 12

: UNRESOLVED STAFF COMMENTS

ITEM 1B: UNRESOLVED STAFF COMMENTS 21

: CYBERSECURITY

ITEM 1C: CYBERSECURITY 21

: PROPERTIES

ITEM 2: PROPERTIES 22

: LEGAL PROCEEDINGS

ITEM 3: LEGAL PROCEEDINGS 22

: MINE SAFETY DISCLOSURES

ITEM 4: MINE SAFETY DISCLOSURES 22 PART II 23

: MARKET FOR REGISTRANT'S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES

ITEM 5: MARKET FOR REGISTRANT'S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES 23

: [RESERVED]

ITEM 6: [RESERVED] 23

: MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

ITEM 7: MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS 23

: QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

ITEM 7A: QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK 28

: CONSOLIDATED FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA

ITEM 8: CONSOLIDATED FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA 28

: CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE

ITEM 9: CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE 28

: CONTROLS AND PROCEDURES

ITEM 9A: CONTROLS AND PROCEDURES 28

: OTHER INFORMATION

ITEM 9B: OTHER INFORMATION 29

: DISCLOSURE REGARDING FOREIGN JURISDICTIONS THAT PREVENT INSPECTIONS

ITEM 9C: DISCLOSURE REGARDING FOREIGN JURISDICTIONS THAT PREVENT INSPECTIONS 29 PART III 29

: DIRECTORS, EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE

ITEM 10: DIRECTORS, EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE 29

: EXECUTIVE COMPENSATION

ITEM 11: EXECUTIVE COMPENSATION 30

: SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS

ITEM 12: SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS 30

: CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS, AND DIRECTOR INDEPENDENCE

ITEM 13: CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS, AND DIRECTOR INDEPENDENCE 30

: PRINCIPAL ACCOUNTING FEES AND SERVICES

ITEM 14: PRINCIPAL ACCOUNTING FEES AND SERVICES 30 PART IV 30

: EXHIBITS, CONSOLIDATED FINANCIAL STATEMENT SCHEDULES

ITEM 15: EXHIBITS, CONSOLIDATED FINANCIAL STATEMENT SCHEDULES 30

: FORM 10-K SUMMARY

ITEM 16: FORM 10-K SUMMARY 33 Table of Contents SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS AND OTHER INFORMATION CONTAINED IN THIS REPORT This Annual Report on Form 10-K, or this "report," contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and the provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements give our current expectations or forecasts of future events. You can identify these statements by the fact that they do not relate strictly to historical or current facts. You can find many, but not all, of these statements by looking for words such as "approximates," "believes," "hopes," "expects," "anticipates," "estimates," "projects," "intends," "plans," "would," "should," "could," "may," "will" or other similar expressions in this report. In particular, these include statements relating to future actions; prospective products, applications, customers and technologies; future performance or results of any products; anticipated expenses; and future financial results. These forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from our historical experience and our present expectations or projections. Factors that could cause actual results to differ materially from those discussed in the forward-looking statements include, but are not limited to: our limited cash, history of losses, and our expectation that we will continue to experience operating losses and negative cash flows in the near future; our ability to successfully develop and implement our technologies and achieve profitability; our limited operating history; changes in government regulations that could substantially reduce, or even eliminate, the need for our technology; emerging competition and rapidly advancing technology in our industry that may

BUSINESS

ITEM 1. BUSINESS Introduction We design and develop technologies that have been shown to significantly improve key performance characteristics of industrial combustion systems, including emission and operational performance, energy efficiency, safety and overall cost-effectiveness. We believe that our patented ClearSign Core technology can enhance the performance of combustion systems in a broad range of markets, including the energy (upstream oil production and down-stream refining), institutional, commercial and industrial boiler, chemical, and petrochemical industries. Our ClearSign Core technology, which is our primary technology, uses either a porous ceramic structure or metal flame holder device held at a distance from the injection planes of a burner to significantly reduce flame length and achieve low emissions without the need for external flue gas recirculation, selective catalytic reduction, or high excess air systems. To date, our operations have been funded primarily through sales of our equity securities. We have earned nominal revenue since inception in 2008. Our combustion technology has been successfully deployed in commercial projects such as down-stream refining and upstream oil production. These applications include both our process burner and boiler burner technologies. Our process burner technology is able to operate in high-intensity multiple burner industrial applications at sites that are required to meet low air pollutant emissions. Our boiler burner technology, which has been proven to achieve ground-breaking low air pollutant emissions, has been deployed in the US and is currently undergoing commercialization in China. We believe that combustion equipment utilizing ClearSign Core technology is more effective and cost-efficient than current industry-standard air pollution control technologies, and can reduce nitrogen oxide (NOx) emissions down to the levels required by new stringent emission regulations. NOx is a regulated greenhouse g

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