Form 8-K - Current report
October 18 2024 - 4:00PM
Edgar (US Regulatory)
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0001329606
0001329606
2024-10-15
2024-10-15
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UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
8-K
CURRENT
REPORT
PURSUANT
TO SECTION 13 OR 15(d) OF
THE SECURITIES EXCHANGE ACT OF 1934
Date
of Report (Date of earliest event reported): October 18, 2024 (October 15, 2024).
CLEAN
ENERGY TECHNOLOGIES, INC.
(Exact
name of Company as specified in its charter)
Nevada |
|
001-41654 |
|
20-2675800 |
(State
or other jurisdiction |
|
(Commission |
|
(IRS
Employer |
of
Incorporation) |
|
File
Number) |
|
Identification
Number) |
1340
Reynolds Avenue, Unit 120
Irvine,
CA 92614
(Address
of principal executive offices)
Phone:
(949) 273-4990
(Company’s
Telephone Number)
Check
the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the Company under any
of the following provisions:
☐ |
Written
communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
|
|
☐ |
Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
|
|
☐ |
Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
|
|
☐ |
Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Indicate
by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405
of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging
growth company ☐
If
an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying
with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Securities
registered pursuant to Section 12(b) of the Act:
Title
of each class |
|
Trading
Symbol(s) |
|
Name
of each exchange on which registered |
Common
Stock, par value $0.001 |
|
CETY |
|
Nasdaq |
Item
1.01 Entry into a Material Definitive Agreement.
On
October 15, 2024, Clean Energy Technology, Inc., a Nevada corporation (the “Company”) entered into a securities purchase
agreement (the “Agreement”) with 1800 Diagonal Lending LLC, a Virginia limited liability company (“Diagonal”),
pursuant to which the Company agreed to issue and sell to Diagonal a convertible promissory note of the Company in the principal amount
of $125,080 (the “Note”) for a purchase price of $106,000 plus an original issue discount in the amount of $19,080.
The Note provides for a one-time interest charge of fifteen percent (15%) of the principal amount equal to $18,762. The Company shall
make nine (9) payments, each in the amount of $15,982.45 to Diagonal. The first payment shall be due on November 15, 2024 with eight
(8) subsequent payments due on the 15th day of each month thereafter. Any amount of principal or interest on this Note which is not paid
when due shall bear a default interest at the rate of twenty two percent (22%) per annum from the due date thereof until the same is
paid.
All
or any part of the outstanding and unpaid amount under the Note may be converted at any time following an event of default (the “Event
of Default”) into common stock of the Company, par value $0.001 per share (“Common Stock”), at the conversion
price of $1.00 per share, subject to anti-dilution adjustments and a beneficial ownership limitation of 4.99% of Diagonal and its affiliates.
Events of Default include failure to pay principal or interest, bankruptcy of the Company, delisting of the Common Stocks, and other
events as set forth in the Note.
The
Agreement provides customary representations, warranties and covenants of the Company and Diagonal.
The
Company sold the securities referenced in this Item 1.01 in reliance upon an exemption from registration contained in Section 4(a)(2)
of the Securities Act of 1933, as amended, and Rule 506(b) promulgated thereunder.
The
foregoing description of the Agreement and the Note does not purport to be complete and is qualified in its entirety by reference to
the full text of the Agreement and the Note, copies of which are filed as Exhibit 10.1 and Exhibit 10.2 to this current report on Form
8-K.
Item
3.02 Unregistered Sales of Equity Securities.
The
information contained above in Item 1.01 is hereby incorporated by reference into this Item 3.02.
Item
9.01 Financial Statement and Exhibits.
(d)
Exhibits.
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, as amended, the Company has duly caused this report to be signed on its behalf
by the undersigned hereunto duly authorized.
Clean
Energy Technologies, Inc.
|
/s/
Kambiz Mahdi |
|
By: |
Kambiz
Mahdi |
|
|
Chief
Executive Officer |
|
|
|
|
Date: |
October
18, 2024 |
|
Exhibit 10.1
Exhibit 10.2
v3.24.3
Cover
|
Oct. 15, 2024 |
Cover [Abstract] |
|
Document Type |
8-K
|
Amendment Flag |
false
|
Document Period End Date |
Oct. 15, 2024
|
Entity File Number |
001-41654
|
Entity Registrant Name |
CLEAN
ENERGY TECHNOLOGIES, INC.
|
Entity Central Index Key |
0001329606
|
Entity Tax Identification Number |
20-2675800
|
Entity Incorporation, State or Country Code |
NV
|
Entity Address, Address Line One |
1340
Reynolds Avenue
|
Entity Address, Address Line Two |
Unit 120
|
Entity Address, City or Town |
Irvine
|
Entity Address, State or Province |
CA
|
Entity Address, Postal Zip Code |
92614
|
City Area Code |
949
|
Local Phone Number |
273-4990
|
Written Communications |
false
|
Soliciting Material |
false
|
Pre-commencement Tender Offer |
false
|
Pre-commencement Issuer Tender Offer |
false
|
Title of 12(b) Security |
Common
Stock, par value $0.001
|
Trading Symbol |
CETY
|
Security Exchange Name |
NASDAQ
|
Entity Emerging Growth Company |
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