Clean Energy Technologies Enters Into Convertible Promissory Note Agreements

Clean Energy Technologies, Inc. (NASDAQ:CETY) recently disclosed two significant financial arrangements through Form 8-K filings with the Securities and Exchange Commission (SEC).

Firstly, on December 12, 2024, Clean Energy Technology, Inc., a Nevada corporation, finalized a securities purchase agreement with 1800 Diagonal Lending LLC. According to the agreement, Clean Energy Technologies will issue and sell to Diagonal a convertible promissory note with a principal amount of $93,725, for a total purchase price of $81,500 plus an original issue discount of $12,225. The note also carries a one-time interest charge of 15% of the principal amount, amounting to $14,058, applied on the issuance date. The repayment will be made in six installments, with the final payment set for September 15, 2025. The note gives Diagonal the option to convert all or part of the outstanding amount into common stock of Clean Energy Technologies at $1.00 per share, subject to certain conditions.

Furthermore, on December 11, 2024, Clean Energy Technologies and Mast Hill Fund, L.P. entered into an amendment to a previous promissory note that was issued to Mast on September 10, 2024. The amendment states that Mast will pay an additional $50,000 by December 12, 2024, and the principal balance of the Mast Note will increase by $60,000 upon the funding receipt by the company.

Both transactions were conducted in compliance with regulations, utilizing exemptions from registration under the Securities Act of 1933. To delve deeper into the specifics of these agreements, interested parties can refer to the respective exhibits filed alongside the Form 8-K with the SEC.

These financial moves suggest active financial maneuvering by Clean Energy Technologies, contributing to potential advancements and expansion for the company.

The Company did not mention further details regarding upcoming plans or utilization of the funds obtained through these agreements.

This article is a brief summary of the recent developments made by Clean Energy Technologies, Inc., and is based on the official submission made to the SEC. For comprehensive information, individuals are encouraged to review the original documents available on the SEC’s website.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Clean Energy Technologies’s 8K filing here.

Clean Energy Technologies Company Profile

Clean Energy Technologies, Inc designs, produces, and markets clean energy products and integrated solutions that focuses on energy efficiency and renewable energy in the United States. It operates through four segments: Clean Energy HRS and CETY Europe, CETY Renewables Waste to Energy Solutions, engineering and Manufacturing Business, and CETY HK.