debt
confidence high
sentiment neutral
materiality 0.50
CETY enters $180,960 convertible note financing with 1800 Diagonal Lending
Clean Energy Technologies, Inc.
- Principal $180,960; purchase price $156,000 with $24,960 original issue discount.
- One-time 13% interest charge of $23,524; nine monthly payments of $22,720.45 starting Sept 30, 2024.
- Conversion allowed after event of default at $1.00/share, subject to anti-dilution and 4.99% ownership cap.
- Default interest rate 22% per annum; events of default include non-payment, bankruptcy, delisting.