Clean Vision Corp Files 2023 Annual Report on Form 10-K

TL;DR

<b>Clean Vision Corp has filed its 2023 annual report (10-K) detailing its financial performance and corporate information for the fiscal year ending December 31, 2023.</b>

AI Summary

Clean Vision Corp (CLNV) filed a Annual Report (10-K) with the SEC on April 16, 2024. Clean Vision Corp filed its 2023 Form 10-K on April 16, 2024. The filing covers the fiscal year ending December 31, 2023. The company was formerly known as Byzen Digital, Inc. and CHINA VITUP HEALTH CARE HOLDINGS, INC. Clean Vision Corp is incorporated in Nevada. The company's SIC code is 2860 (Industrial Organic Chemicals).

Why It Matters

For investors and stakeholders tracking Clean Vision Corp, this filing contains several important signals. This 10-K filing provides a comprehensive overview of Clean Vision Corp's financial health, operational activities, and strategic direction for the fiscal year 2023, which is crucial for investors to assess the company's performance and future prospects. Understanding the company's historical name changes and its SIC code classification helps in contextualizing its business evolution and industry positioning.

Risk Assessment

Risk Level: low — Clean Vision Corp shows low risk based on this filing. The filing is a standard 10-K, providing historical financial data and corporate information without immediate indicators of significant new risks or positive developments.

Analyst Insight

Review the full 10-K filing for detailed financial statements, management discussion and analysis, and risk factors to form an investment thesis.

Key Numbers

• 2023-12-31 — Fiscal Year End (Period covered by the 10-K filing)
• 2024-04-16 — Filing Date (Date the 10-K was filed with the SEC)
• 000-52489 — SEC File Number (SEC file number for Clean Vision Corp)
• 0001391426 — Central Index Key (Company's unique identifier with the SEC)

Key Players & Entities

• Clean Vision Corp (company) — Filer name
• Byzen Digital, Inc. (company) — Former company name
• CHINA VITUP HEALTH CARE HOLDINGS, INC. (company) — Former company name
• 2023-12-31 (date) — Fiscal year end
• 2024-04-16 (date) — Filing date
• 2860 (industry_code) — Standard Industrial Classification
• NV (state) — State of incorporation
• 2711 N. SEPULVEDA BLVD (address) — Business address

FAQ

Industry Context

Clean Vision Corp operates within the industrial organic chemicals sector, as indicated by its SIC code.

Regulatory Implications

As a publicly traded company in the US, Clean Vision Corp is subject to the reporting requirements of the Securities and Exchange Commission (SEC), including the filing of annual reports on Form 10-K.

What Investors Should Do

1. Analyze the detailed financial statements within the 10-K to understand revenue, expenses, and profitability.
2. Review the Management's Discussion and Analysis (MD&A) section for insights into the company's performance drivers and outlook.
3. Examine the Risk Factors section for potential challenges and uncertainties facing the company.

Key Dates

• 2023-12-31: Fiscal Year End — Marks the end of the reporting period for the 10-K.
• 2024-04-16: Filing Date — Date the 10-K was officially submitted to the SEC.

Year-Over-Year Comparison

This is the initial 10-K filing for the fiscal year 2023. Comparative data from previous years will be available within the detailed financial statements.

Key Financial Figures

• $0.0395 — sed upon the closing price per share of $0.0395 on June 30, 2023. The number of share
• $528 billion — since 2015, growing 11% year-on-year to $528 billion in 2023. Additionally, in the Hydroge
• $136.3 billion — en generation market size was valued at $136.3 billion in 2021 and is expected to each $262 bi
• $262 billion — billion in 2021 and is expected to each $262 billion by 2031, growing at a CAGR of 6.8% from
• $2,000,000 — el Bates over Windstream's default on a $2,000,000 loan that Windstream had with GBC Inter
• $1,982,570 — pay the plaintiff the principal sum of $1,982,570.22, plus $842,536.13 ordinary interest
• $842,536.13 — he principal sum of $1,982,570.22, plus $842,536.13 ordinary interest accrued through May 3
• $1,735,299.76 — erest accrued through May 31, 2022, and $1,735,299.76 late interest accrued through May 31, 2
• $4.5 million — yment of $2,000,000, with the remaining $4.5 million due within ten (10) months of the Moroc
• $50,000,000 — n, Clean-Seas committed to invest up to $50,000,000 in Clean-Seas Morocco over a period of
• $257,414 — 2023, Clean-Seas Morocco has generated $257,414 in revenue, with a gross margin of $162
• $162,789 — ,414 in revenue, with a gross margin of $162,789 from the provision of pyrolysis service

Filing Documents

• clnv_10k.htm (10-K) — 1299KB
• ex31_1.htm (EX-31.1) — 11KB
• ex31_2.htm (EX-31.2) — 11KB
• ex32.htm (EX-32) — 11KB
• clnv_1.jpg (GRAPHIC) — 11KB
• image_001.jpg (GRAPHIC) — 7KB
• 0001903596-24-000247.txt (&nbsp;) — 5216KB
• clnv-20231231.xsd (EX-101.SCH) — 40KB
• clnv-20231231_cal.xml (EX-101.CAL) — 55KB
• clnv-20231231_def.xml (EX-101.DEF) — 87KB
• clnv-20231231_lab.xml (EX-101.LAB) — 278KB
• clnv-20231231_pre.xml (EX-101.PRE) — 204KB
• clnv_10k_htm.xml (XML) — 775KB

Risk Factors

Risk Factors 12 Item 1B. Unresolved Staff Comments 12 Item 1C. Cybersecurity 12 Item 2.

Properties

Properties 13 Item 3.

Legal Proceedings

Legal Proceedings 13 Item 4. Mine Safety Disclosures 13 PART II Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 14 Item 6

Selected Financial Data

Selected Financial Data 14 Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations 14 Item 7A. Quantitative and Qualitative Disclosures About Market Risk 17 Item 8.

Financial Statements and

Financial Statements and Supplementary Data 17 Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 18 Item 9A.

Controls and Procedures

Controls and Procedures 18 Item 9B. Other Information 19 PART III Item 10. Directors, Executive Officers and Corporate Governance 19 Item 11.

Executive Compensation

Executive Compensation 23 Item 12.

Security Ownership of Certain

Security Ownership of Certain Beneficial Owners, Management and Related Stockholder Matters 25 Item 13. Certain Relationships, Related Transactions and Director Independence 26 Item 14. Principal Accounting Fees and Services 27 PART IV Item 15. Exhibits, Financial Statement Schedules 28 Exhibit Index Item 16 Form 10-K Summary 28

Signatures

Signatures 29 SPECIAL NOTE REGARDING

FORWARD-LOOKING STATEMENTS

FORWARD-LOOKING STATEMENTS This Annual Report on Form 10-K ("Annual Report") contains forward-looking statements within the meaning of the federal securities laws. All results and financial position, our business strategy and plans, potential growth or growth prospects, future research and development, sales and marketing and general and administrative expenses, and our objectives for future operations, are forward-looking statements. Words such as "believes," "may," "will," "estimates," "potential," "continues," "anticipates," "intends," "expects," "could," "would," "projects," "plans," "targets," and variations of such words and similar expressions are intended to identify forward-looking trends that we believe may affect our financial condition, results of operations, business strategy, short-term and long-term business operations and objectives, and financial needs. These forward-looking statements are subject to a number of risks, uncertainties and assumptions, including those described in the "Risk Factors" in this Annual Report. Readers are urged to carefully review and consider the various disclosures made in this Annual Report and in other documents we file from time to time with the U.S. Securities and Exchange Commission (the "SEC") that disclose risks and uncertainties that may affect our business. Moreover, we operate in a very competitive and rapidly changing environment. New risks emerge from time to time. It is not possible for us to predict all risks, nor can we assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements we may ma

BUSINESS

ITEM 1. BUSINESS Company Overview and History Clean Vision Corporation ("Clean Vision," "we," "us," or the "Company") is a new entrant in the clean energy and waste-to-energy industries focused on clean technology and sustainability opportunities. Currently, we are focused on providing a solution to the plastic waste problem by recycling the waste and converting it into saleable byproducts, such as hydrogen and other clean-burning fuels. Using a technology known as pyrolysis, which heats the feedstock ( i.e. , plastic) at high temperatures in the absence of oxygen so that the material does not burn, we are able to turn the feedstock into (i) clean fuels, (ii) clean hydrogen and (iii) carbon black or char (char is created when plastic is used as feedstock). Our goal is to generate revenue from three sources: (i) Service revenue from the recycling services we provide . We plan to establish plastic feedstock agreements with a number of feedstock suppliers for the delivery of plastic to our facilities. Much of this plastic is currently a cost center for such feedstock suppliers, who pay "tipping fees" to landfills or incinerators. We will accept this plastic feedstock at reduced price or for no tipping fees. In some cases, feedstock suppliers will also share in revenue on products produced from their feedstock. This revenue will be realized and recognized upon receipt of feedstock at one of our facilities. (ii) Revenue generated from the sale of commodities . We will produce commodities including, but not limited to, pyrolysis oil, fuel oil, lubricants, synthetic gas, hydrogen, and carbon char. We are in negotiation with chemical and oil companies for purchasing, or off-taking, the fuels and oils we produce, and exploring applications for carbon char. This revenue will be recognized upon shipment of products from one of our facilities and in some cases off-takers may pre-pay for a contractual obligation to buy our commodities. (iii) Revenue generated from the

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View this 10-K filing on SEC EDGAR