debt
confidence high
sentiment neutral
materiality 0.35
Clean Energy Technologies issues $92K convertible note to Coventry with OID and commitment shares
Clean Energy Technologies, Inc.
- Sold $92,000 convertible promissory note to Coventry Enterprises LLC for $80,000 purchase price (includes $12,000 OID).
- Note bears a one-time interest charge of 10% ($9,200); ten monthly payments of $10,120 due from Oct 1, 2024.
- Issued 15,000 commitment shares of common stock as additional consideration for the transaction.
- Conversion price set at $1.60/share, exercisable only after an event of default; subject to 4.99% beneficial ownership cap.