Clean Vision Corp Files Q1 2024 10-Q

TL;DR

Clean Vision Corp's Q1 2024 10-Q is in. Check financials.

AI Summary

Clean Vision Corp filed its 10-Q for the period ending March 31, 2024. The company, formerly known as Byzen Digital, Inc. and China Vitup Health Care Holdings, Inc., is incorporated in Nevada and operates in the Industrial Organic Chemicals sector. Its principal executive offices are located in Manhattan Beach, California.

Why It Matters

This filing provides investors with the latest financial performance and operational updates for Clean Vision Corp for the first quarter of 2024.

Risk Assessment

Risk Level: medium — The company has undergone multiple name changes and its SIC code suggests a specific industrial focus, which may indicate niche market risks.

Key Players & Entities

• Clean Vision Corp (company) — Filer
• 20240331 (date) — Reporting Period End Date
• 20240520 (date) — Filing Date
• Byzen Digital, Inc. (company) — Former Company Name
• CHINA VITUP HEALTH CARE HOLDINGS, INC. (company) — Former Company Name
• 2711 N. SEPULVEDA BLVD (address) — Business and Mail Address
• MANHATTAN BEACH (location) — City of Business Address
• NV (location) — State of Incorporation
• INDUSTRIAL ORGANIC CHEMICALS [2860] (industry) — Standard Industrial Classification

FAQ

Key Financial Figures

• $1,363,758 — rtible note payable, net of discount of $1,363,758 and $1,701,403, respectively 4,122,795
• $1,701,403 — able, net of discount of $1,363,758 and $1,701,403, respectively 4,122,795 2,779,199 D

Filing Documents

• clnv_10q.htm (10-Q) — 724KB
• ex31_1.htm (EX-31.1) — 9KB
• ex31_2.htm (EX-31.2) — 10KB
• ex32.htm (EX-32) — 9KB
• 0001903596-24-000336.txt ( ) — 3685KB
• clnv-20240331.xsd (EX-101.SCH) — 33KB
• clnv-20240331_cal.xml (EX-101.CAL) — 50KB
• clnv-20240331_def.xml (EX-101.DEF) — 77KB
• clnv-20240331_lab.xml (EX-101.LAB) — 235KB
• clnv-20240331_pre.xml (EX-101.PRE) — 173KB
• clnv_10q_htm.xml (XML) — 521KB

Legal Proceedings

Legal Proceedings 30 Item 1A.

Risk Factors

Risk Factors 31 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 31 Item 3. Defaults Upon Senior Securities 31 Item 4. Mine Safety Disclosures 31 Item 5. Other Information 31 Item 6. Exhibits 31

- FINANCIAL

PART I - FINANCIAL INFORMATION

Financial

Item 1. Financial INDEX TO FINANCIAL Consolidated Balance Sheets as of March 31, 2024 (unaudited) and December 31, 2023 F-2 Consolidated Statements of Operations and Comprehesive Loss for the Three Months Ended March 31, 2024 and 2023 (unaudited) F-3 Consolidated Statements of Changes in Stockholders' Equity (Deficit) for the Three Months Ended March 31, 2024, and 2023 (unaudited) F-4 Consolidated Statements of Cash Flows for the Three Months Ended Three Months Ended March 31, 2024, and 2023 (unaudited) F-6 Notes to the Consolidated

Financial Statements (unaudited)

Financial Statements (unaudited) F-7 1 CLEAN VISION CORPORATION CONSOLIDATED BALANCE SHEETS March 31, 2024 December 31, 2023 ASSETS (Unaudited) (Audited) Current Assets: Cash $ 266,227 $ 339,921 Prepaids and other assets 645,849 366,812 Accounts receivable 62,735 70,745 Loan receivable 70,000 70,000 Trading securities 5,073 5,069 Total Current Assets 1,049,884 852,547 Property and equipment 4,968,180 4,883,566 Goodwill 4,854,622 4,854,622 Total Assets $ 10,872,686 $ 10,590,735 LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT) Current Liabilities: Cash overdraft $ 367,024 $ 353,159 Accounts payable 538,796 286,922 Accrued compensation 390,932 344,015 Accrued expenses 627,889 546,392 Convertible note payable, net of discount of $1,363,758 and $1,701,403, respectively 4,122,795 2,779,199 Derivative liability — 598,306 Loans payable 813,974 780,656 Related party payables 706,642 549,946 Loans payables – related party 4,500,000 4,500,000 Liabilities of discontinued operations 67,093 67,093 Total current liabilities 12,135,145 10,805,688 Economic incentive (Note 12) 1,750,000 1,750,000 Total Liabilities 13,885,145 12,555,688 Commitments and contingencies — — Mezzanine Equity: Series B Preferred stock, $ 0.001 par value, 2,000,000 shares authorized; 2,000,000 and 0 shares issued and outstanding, respectively 1,800,000 1,800,000 Total mezzanine equity 1,800,000 1,800,000 Stockholders' Deficit: Preferred stock, $ 0.001 par value, 4,000,000 shares authorized; no shares issued and outstanding — — Series A Preferred stock, $ 0.001 par value, 2,000,000 shares authorized; no shares issued and outstanding — — Series C Preferred stock, $ 0.001 par value, 2,000,000 shares authorized; 2,000,000 shares issued and outstanding 2,000 2,000 Common stock, $ 0.001 par value, 2,000,000,000 shares authorized, 695,701,083 and 682,463,425 shares issued and outs

financial statements for the year ended December 31, 2023

financial statements for the year ended December 31, 2023. Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting periods. Actual results could differ from those estimates. Concentrations of Credit Risk We maintain our cash in bank deposit accounts, the balances of which at times may exceed federally insured limits. We continually monitor our banking relationships and consequently have not experienced any losses in our accounts. At times, such deposits may be in excess of the Federal Deposit Insurance Corporation insurable amount ("FDIC"). As of March 31, 2024, the Company had no cash in excess of the FDIC's $ 250,000 coverage limit. Cash Equivalents The Company considers all highly liquid investments with a maturity of three months or less when purchased to be cash equivalents. There were no cash equivalents for the periods ended March 31, 2024 and December 31, 2023. Principles of Consolidation The accompanying unaudited consolidated financial statements for the period ended March 31, 2024, include the accounts of the Company and its wholly owned subsidiaries, Clean-Seas, Inc., Clean-Seas India Private Limited, Clean-Seas Group, Endless Energy, Inc., EcoCell, Inc., Clean-Seas Arizona, Inc., Clean-Seas West Virginia, and our 51% owned subsidiary, Clean-Seas Morocco, LLC. As of March 31, 2024, there was no activity in Clean-Seas Group, Endless Energy or Clean-Seas Arizona. All intercompany transactions are eliminated in consolidation. Translation Adjustment The accounts of the Company's subsidiary Clean-Seas India are maintained in Rupees and the accounts of Clean-Seas Morocco in Moroccan dirham. In accordance with the Codification, al

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