Clean Energy Tech enters $280.5K convertible note agreement with FirstFire

Clean Energy Technologies, Inc.

Note principal $280,500 with 10% annual interest, sold at $255,000 inclusive of $25,500 original issue discount.
Repayable in 11 monthly installments of $28,050, first payment due April 4, 2024.
Convertible into common stock at $1.60/share upon an event of default; 20,000 commitment shares also issued.
Proceeds used to repay $143,750 prior note owed to FirstFire and for business development.
Fees of $6,000 for buyer's legal costs and $5,562.50 for Revere Securities deducted from purchase price.

Key facts

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Clean Energy Technologies, Inc. entered into Agreement with FirstFire Global Opportunities Fund, LLC valued at $280,500 (effective 2024-03-04).

Action: entry
Agreement: equity purchase
Counterparty: FirstFire Global Opportunities Fund, LLC
Value: $280,500
Effective: 2024-03-04

Exact text from the filing

On March 4, 2024, Clean Energy Technologies, Inc. (the “ Company ”) entered into a securities purchase agreement (the “ Agreement ”) with FirstFire Global Opportunities Fund, LLC, a Delaware limited liability company (the “ Buyer ”), pursuant to which the Company agreed to issue and sell to the Buyer a convertible promissory note of the Company in the principal amount of $280,500

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Source: SEC EDGAR

accession 0001493152-24-009239

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