Clean Vision Corp Files Q3 2024 10-Q

TL;DR

Clean Vision Corp's Q3 2024 10-Q is in. Check financials.

AI Summary

Clean Vision Corp filed its 10-Q for the period ending September 30, 2024. The company, formerly known as Byzen Digital, Inc., is in the industrial organic chemicals sector. Financial details and specific operational updates for the third quarter of 2024 are presented in this filing.

Why It Matters

This filing provides investors with the latest financial performance and operational status of Clean Vision Corp, crucial for understanding the company's current health and future prospects.

Risk Assessment

Risk Level: medium — As a 10-Q filing, it contains detailed financial information that could reveal significant risks or opportunities for investors.

Key Numbers

• 2024-09-30 — Reporting Period End Date (Indicates the end of the fiscal quarter for which financial data is reported.)
• 2024-11-19 — Filing Date (The date the 10-Q was officially submitted to the SEC.)

Key Players & Entities

• Clean Vision Corp (company) — Filer of the 10-Q
• Byzen Digital, Inc. (company) — Former name of Clean Vision Corp
• 20240930 (date) — End of reporting period
• 20241119 (date) — Filing date
• INDUSTRIAL ORGANIC CHEMICALS [2860] (industry) — Company's Standard Industrial Classification

FAQ

Filing Documents

• clnv_10q.htm (10-Q) — 1217KB
• ex31_1.htm (EX-31.1) — 9KB
• ex31_2.htm (EX-31.2) — 9KB
• ex32.htm (EX-32) — 9KB
• 0001903596-24-000682.txt ( ) — 5553KB
• clnv-20240930.xsd (EX-101.SCH) — 43KB
• clnv-20240930_cal.xml (EX-101.CAL) — 54KB
• clnv-20240930_def.xml (EX-101.DEF) — 158KB
• clnv-20240930_lab.xml (EX-101.LAB) — 315KB
• clnv-20240930_pre.xml (EX-101.PRE) — 252KB
• clnv_10q_htm.xml (XML) — 856KB

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 September 30, 2024 (unaudited) and December 31, 2023 F-2 Consolidated Statements of Operations and Comprehensive Loss for the Three and Nine Months Ended September 30, 2024 and 2023 (unaudited) F-3 Consolidated Statements of Changes in Stockholders' Equity (Deficit) for the Three and Nine Months Ended September 30, 2024, and 2023 (unaudited) F-4 Consolidated Statements of Cash Flows for the Nine Months Ended September 30, 2024, and 2023 (unaudited) F-6 Notes to the Consolidated Financial Statements (unaudited) F-7 F-1 CLEAN VISION CORPORATION AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS September 30, 2024 December 31, 2023 ASSETS (Unaudited) (Audited) Current Assets: Cash $ 4,180 $ 339,921 Prepaids and other assets 418,322 366,812 Accounts receivable 8,152 70,745 Loan receivable 70,000 70,000 Trading securities 5,263 5,069 Total Current Assets 505,917 852,547 Property and equipment 4,928,359 4,883,566 Goodwill 4,854,622 4,854,622 Total Assets $ 10,288,898 $ 10,590,735 LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT) Current Liabilities: Cash overdraft $ 410,489 $ 353,159 Accounts payable 1,412,696 758,038 Accrued compensation 746,514 344,015 Accrued expenses 782,924 546,392 Convertible note payable, net of discount of $ 782,889 and $ 1,701,403 , respectively 4,432,594 2,779,199 Derivative liability 251,721 598,306 Loans payable 822,808 780,656 Related party payables 760,059 549,946 Loans payables – related party 4,500,000 4,500,000 Liabilities of discontinued operations 67,093 67,093 Total current liabilities 14,186,898 11,276,804 Economic incentive (Note 12) 1,750,000 1,750,000 Total Liabilities 15,936,898 13,026,804 Commitments and contingencies — — Mezzanine Equity: Series B Preferred stock, $ 0.001 par value, 2,000,000 shares authorized; 0 and

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 September 30, 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 September 30, 2024 and December 31, 2023. Principles of Consolidation The accompanying unaudited consolidated financial statements for the period ended September 30, 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 September 30, 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

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