Clean Vision's Losses Persist Amid Revenue Growth, Asset Expansion

Ticker: CLNV · Form: 10-Q · Filed: Nov 19, 2025 · CIK: 1391426

Clean Vision Corp 10-Q Filing Summary
FieldDetail
CompanyClean Vision Corp (CLNV)
Form Type10-Q
Filed DateNov 19, 2025
Risk Levelhigh
Pages15
Reading Time18 min
Sentimentbearish

Sentiment: bearish

Topics: Waste-to-Energy, Pyrolysis, Clean Technology, High Growth Potential, High Risk, Penny Stock, Sustainability

Related Tickers: CLNV

TL;DR

**CLNV is burning cash on ambitious projects, showing revenue growth but deepening losses and debt – a high-risk bet on future clean energy success.**

AI Summary

Clean Vision Corp (CLNV) reported a net loss of $5,633,750 for the nine months ended September 30, 2025, a slight improvement from the $5,705,277 net loss in the prior year period. Revenue increased to $125,201 for the nine months ended September 30, 2025, up from $107,946 in the same period of 2024, representing a 16% increase. Gross margin also saw an increase to $105,900 from $96,682 year-over-year. Operating expenses, however, significantly rose to $4,280,816 for the nine months ended September 30, 2025, compared to $3,332,431 in 2024, driven by higher consulting, payroll, and general and administration expenses. The company's total assets grew substantially to $20,847,742 as of September 30, 2025, from $13,066,884 at December 31, 2024, primarily due to increased restricted cash and property and equipment. Total liabilities also surged to $36,319,321 from $24,966,443, with a notable increase in commercial loans and convertible notes payable. The company continues to operate at a significant deficit, with accumulated deficit reaching $54,311,732.

Why It Matters

Clean Vision's continued net losses and rising liabilities, despite revenue growth, signal significant financial challenges for investors. The substantial increase in total assets, particularly property and equipment, suggests ongoing capital-intensive project development, which could be a double-edged sword: future growth potential versus immediate cash burn. For employees, the expansion into new facilities like Clean-Seas West Virginia and the Arizona State University partnership could mean job creation, but the company's overall financial instability poses a risk. Customers and the broader market will be watching if CLNV can successfully scale its pyrolysis technology to address plastic waste, especially with the Clean-Seas Morocco facility already operational and the West Virginia facility expected in Q4 2025. The competitive landscape in waste-to-energy is intensifying, and CLNV's ability to transition from pilot projects to profitable, large-scale operations is critical.

Risk Assessment

Risk Level: high — Clean Vision Corp exhibits a high-risk profile due to its substantial and growing accumulated deficit of $54,311,732 as of September 30, 2025, and a total stockholders' deficit of $15,750,463. The company's total liabilities significantly exceed its total assets, with liabilities at $36,319,321 against assets of $20,847,742, indicating a precarious financial structure. Furthermore, net cash used in operating activities for the nine months ended September 30, 2025, was $5,640,932, highlighting a significant cash burn rate.

Analyst Insight

Investors should exercise extreme caution and consider this a highly speculative investment. Given the significant accumulated deficit, high cash burn from operations, and increasing debt, potential investors should wait for clear evidence of sustained profitability and positive operating cash flow before considering a position. Existing investors should closely monitor the progress of the West Virginia and Arizona facilities and any substantial revenue generation from these projects.

Financial Highlights

debt To Equity
N/A
revenue
$125,201
operating Margin
N/A
total Assets
$20,847,742
total Debt
$36,319,321
net Income
-$5,633,750
eps
N/A
gross Margin
84.57%
cash Position
N/A
revenue Growth
+16%

Key Numbers

  • $125,201 — Revenue (Increased from $107,946 in 2024 for the nine months ended Sept 30, 2025, a 16% increase.)
  • $5,633,750 — Net Loss (Slightly improved from $5,705,277 in 2024 for the nine months ended Sept 30, 2025.)
  • $4,280,816 — Total Operating Expense (Increased from $3,332,431 in 2024 for the nine months ended Sept 30, 2025.)
  • $20,847,742 — Total Assets (Increased from $13,066,884 at Dec 31, 2024.)
  • $36,319,321 — Total Liabilities (Increased from $24,966,443 at Dec 31, 2024.)
  • $54,311,732 — Accumulated Deficit (Increased from $48,835,095 at Dec 31, 2024.)
  • $5,640,932 — Net Cash Used by Operating Activities (Increased from $1,512,095 in 2024 for the nine months ended Sept 30, 2025.)
  • 1,152,768,307 — Common Stock Shares Outstanding (As of November 17, 2025, indicating significant dilution.)
  • 20 TPD — Pyrolysis Capacity (Current capacity of the Agadir, Morocco facility.)
  • 50 TPD — Expected Initial Capacity (For the Clean-Seas West Virginia facility, expected Q4 2025.)

Key Players & Entities

  • Clean Vision Corporation (company) — registrant
  • Clean-Seas, Inc. (company) — wholly-owned subsidiary
  • Ecosynergie S.A.R.L. (company) — 51% acquired subsidiary in Morocco
  • Clean-Seas West Virginia, Inc. (company) — first PCN facility in the United States
  • Arizona State University (ASU) (company) — partner for Phoenix facility
  • MacVallee, LLC (company) — engaged for feedstock in West Virginia
  • $5,633,750 (dollar_amount) — net loss for nine months ended Sept 30, 2025
  • $125,201 (dollar_amount) — revenue for nine months ended Sept 30, 2025
  • $20,847,742 (dollar_amount) — total assets as of Sept 30, 2025
  • $36,319,321 (dollar_amount) — total liabilities as of Sept 30, 2025

FAQ

What were Clean Vision Corp's revenues for the nine months ended September 30, 2025?

Clean Vision Corp reported revenues of $125,201 for the nine months ended September 30, 2025, an increase from $107,946 in the same period of 2024.

How much was Clean Vision Corp's net loss for the nine months ended September 30, 2025?

The net loss for Clean Vision Corp for the nine months ended September 30, 2025, was $5,633,750, a slight improvement from the $5,705,277 net loss reported in the prior year period.

What is the current operational status of Clean Vision Corp's facilities?

Clean Vision Corp's Clean-Seas Morocco facility in Agadir began operations in April 2023 with a capacity to convert 20 tons per day (TPD) of waste plastic. The Clean-Seas West Virginia facility is expected to be operational in Q4 2025, starting at 50 TPD.

What are the primary risks associated with investing in Clean Vision Corp?

Primary risks include a significant accumulated deficit of $54,311,732, total liabilities exceeding total assets by over $15 million, and a high cash burn rate from operating activities, which was $5,640,932 for the nine months ended September 30, 2025.

How has Clean Vision Corp's balance sheet changed from December 31, 2024, to September 30, 2025?

Total assets increased from $13,066,884 to $20,847,742, driven by higher restricted cash and property and equipment. Total liabilities also surged from $24,966,443 to $36,319,321, primarily due to increased commercial loans and convertible notes payable.

What is Clean Vision Corp's strategic outlook for its pyrolysis technology?

Clean Vision Corp aims to generate revenue from recycling services, byproduct sales (low sulfur fuel, clean hydrogen AquaH, carbon char), and fuel cell equipment sales. They intend to scale their technology, with plans for a Phoenix, Arizona facility to process up to 500 TPD by Q4 2026.

What is the significance of Clean Vision Corp's partnership with Arizona State University?

The partnership with Arizona State University (ASU) and Rob and Melani Walton Sustainability Solution Services (WS3) aims to establish a plastic feedstock to clean hydrogen conversion facility in Phoenix, Arizona, expected to begin processing in Q4 2026 at 100 TPD.

How many shares of common stock did Clean Vision Corp have outstanding as of November 17, 2025?

As of November 17, 2025, Clean Vision Corp had 1,152,768,307 shares of its common stock issued and outstanding, indicating significant share dilution.

What are the key components of Clean Vision Corp's operating expenses?

Key components of Clean Vision Corp's operating expenses for the nine months ended September 30, 2025, included consulting ($1,074,848), payroll expense ($1,094,062), and general and administration expenses ($1,474,349).

What is 'AquaH' and its role in Clean Vision Corp's business model?

AquaH is Clean Vision Corp's branded clean hydrogen, a byproduct generated from their pyrolysis technology. The company intends to sell AquaH and other byproducts, while also using a small amount to power their facilities, completing a value chain from waste to clean energy.

Risk Factors

  • Substantial Accumulated Deficit and Need for Future Financing [high — financial]: The company has an accumulated deficit of $54,311,732 as of September 30, 2025. This significant deficit, coupled with increasing operating expenses and net cash used by operating activities ($5,640,932 for the nine months ended Sept 30, 2025), indicates a continued reliance on external financing to fund operations and growth initiatives. Failure to secure adequate funding could impede the company's ability to execute its business plan.
  • Increasing Debt Load [high — financial]: Total liabilities have surged to $36,319,321 as of September 30, 2025, from $24,966,443 at December 31, 2024. This increase is driven by commercial loans and convertible notes payable. The growing debt burden increases financial risk and could strain cash flow due to interest payments and principal repayments.
  • Execution Risk for New Facilities [medium — operational]: The company plans to open a new facility in West Virginia with an expected initial capacity of 50 TPD in Q4 2025. The success of this expansion is critical for revenue growth. Any delays or operational issues in bringing this new capacity online could negatively impact financial performance and investor confidence.
  • Environmental Compliance and Permitting [medium — regulatory]: As a company involved in waste management and recycling through pyrolysis, Clean Vision Corp is subject to various environmental regulations. Obtaining and maintaining necessary permits for its facilities, including the new West Virginia plant, is crucial. Non-compliance or delays in permitting could halt operations or lead to significant fines.
  • Dilution from Stock Issuances [medium — financial]: The company has 1,152,768,307 common stock shares outstanding as of November 17, 2025. While not explicitly detailed in the provided text, a high number of shares outstanding often suggests potential for significant dilution from future equity financings or stock-based compensation, which can negatively impact existing shareholders.

Industry Context

The waste management and recycling industry is increasingly focused on advanced technologies like pyrolysis to convert waste into valuable resources, driven by environmental concerns and the circular economy. Companies in this sector face competition from traditional waste management firms and other technology providers. Regulatory compliance and efficient scaling of operations are key to success.

Regulatory Implications

Clean Vision Corp operates in a highly regulated sector. Compliance with environmental laws, waste disposal regulations, and permitting processes for new facilities is critical. Failure to adhere to these regulations can result in significant fines, operational disruptions, and reputational damage.

What Investors Should Do

  1. Monitor Debt Levels and Financing Activities
  2. Track Operational Progress of New Facilities
  3. Analyze Expense Management
  4. Evaluate Revenue Growth Sustainability

Key Dates

  • 2025-09-30: Nine months ended September 30, 2025 — Period for which financial results are reported, showing revenue growth but continued net loss and increased operating expenses.
  • 2024-12-31: December 31, 2024 — Prior period balance sheet date, used for comparison of asset and liability growth.
  • 2025-11-17: November 17, 2025 — Date for which the number of common stock shares outstanding was reported, highlighting potential for dilution.
  • 2025-Q4: Expected Q4 2025 — Target timeframe for the initial operation of the Clean-Seas West Virginia facility, a key growth initiative.

Glossary

Accumulated Deficit
The total cumulative net losses of a company since its inception, minus any cumulative net income. It represents the total amount by which a company's expenses have exceeded its revenues over time. (Indicates the company's long-term profitability and its need for capital to sustain operations.)
Convertible Notes Payable
Debt instruments that can be converted into a predetermined amount of the issuer's equity at certain times during their life. They represent a form of debt financing that can lead to equity dilution. (A significant component of CLNV's increased liabilities, posing potential future dilution risk.)
Pyrolysis
A thermochemical decomposition of organic material at elevated temperatures in the absence of oxygen. It is used to convert waste materials into valuable products like fuels and chemicals. (The core technology of Clean Vision Corp's business model for waste conversion.)
TPD
Tonnes Per Day. A unit of measurement for processing capacity, commonly used in industrial operations like waste management and manufacturing. (Used to quantify the operational capacity of Clean Vision Corp's facilities.)

Year-Over-Year Comparison

Compared to the prior year period, Clean Vision Corp has seen a 16% increase in revenue for the nine months ended September 30, 2025, reaching $125,201. However, the net loss has slightly improved to $5,633,750 from $5,705,277. A significant concern is the substantial rise in operating expenses to $4,280,816, driven by consulting, payroll, and G&A costs. Total assets and liabilities have also grown considerably, indicating increased investment and debt.

Filing Stats: 4,595 words · 18 min read · ~15 pages · Grade level 18.5 · Accepted 2025-11-19 15:18:45

Filing Documents

Financial Statements

Financial Statements 1 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 2 Item 3.

Quantitative and Qualitative Disclosures about Market Risk

Quantitative and Qualitative Disclosures about Market Risk 7 Item 4.

Controls and Procedures

Controls and Procedures 7 PART II Other Information Item 1.

Legal Proceedings

Legal Proceedings 8 Item 1A.

Risk Factors

Risk Factors 8 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 8 Item 3. Defaults Upon Senior Securities 9 Item 4. Mine Safety Disclosures 9 Item 5. Other Information 9 Item 6. Exhibits 9

Signatures

Signatures 10 1 PART I - FINANCIAL INFORMATION Item 1. Financial Statements INDEX TO FINANCIAL STATEMENTS Condensed Consolidated Balance Sheets as of September 30, 2025 (unaudited) and December 31, 2024 F-2 Condensed Consolidated F-3 Condensed Consolidated F-4 Condensed Consolidated F-6 Notes to the Condensed Consolidated Financial Statements (unaudited) F-7 F-1 CLEAN VISION CORPORATION AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS September 30, 2025 December 31, 2024 ASSETS (Unaudited) (Audited) Current Assets: Cash $ 575,678 $ 885,835 Restricted cash 1,404,007 416,597 Prepaids and other assets 4,066,270 1,957,045 Other receivable 150,000 Accounts receivable 28,415 37,624 Loan receivable 70,000 70,000 Inventory 8,385 — Right of use assets — 45,467 Trading securities 5,560 5,048 Total Current Assets 6,308,315 3,417,616 Right of use assets 1,730,604 — Property and equipment 7,954,201 4,794,646 Goodwill 4,854,622 4,854,622 Total Assets $ 20,847,742 $ 13,066,884 LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT) Current Liabilities: Cash overdraft $ 507,858 $ 409,587 Accounts payable 1,341,127 1,042,892 Accrued compensation 616,576 595,719 Accrued expenses 3,381,182 2,282,488 Accrued interest – related party 16,570 — Convertible notes payable, net discount of $ 737,160 and $ 205,675 , respectively 6,249,425 6,044,125 Derivative liability 1,094,760 2,067,621 Settlement liability 697,500 145,967 Loans payable 876,259 784,600 Related party payables 812,770 693,495 Loans payable, revenue share, net

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