secwatch.observer — SEC 8-K summary
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Issuer:     Clean Energy Technologies, Inc. (CETY)
CIK:        0001329606
Form:       8-K
Filed at:   2022-08-16T23:59:59+00:00
Accession:  0001493152-22-023181
Event type: other_material
Sentiment:  negative
Materiality: 0.65
Item codes: 1.01, 3.02, 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Clean Energy Tech issues $138,889 convertible note at 15%; two directors resign
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- Issued $138,888.88 convertible note due Aug 5, 2023, at 15% interest, to Jefferson Street Capital for $125,000 purchase price.
- Five-year warrant issued to buy 1,736,111 shares at $0.04 per share, exercisable after Feb 2, 2023 or upon IPO up-listing.
- Initial conversion price $0.025 per share; drops to 75% of IPO price if up-listing occurs by Feb 21, 2023.
- Directors Jun Wang and Yongsheng Lyu resigned, reducing board from four to two; no disagreement cited.
- Note includes anti-dilution adjustments and prepayment at 115% premium; warrant has cashless exercise provisions.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1329606/000149315222023181/0001493152-22-023181-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1329606/000149315222023181/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-22-023181

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