CETY Clean Energy Technologies, Inc.
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Executive Summary
This 10-Q/A amends the Q1 2025 quarterly report to restate financial statements due to material accounting errors in long-term receivables, contract assets, revenue recognition, and warrant accounting. The restatement reduced previously reported revenue by $350,000, reversed a $1.4M long-term financing receivable, increased the net loss by $329K, and decreased stockholders' equity by $1.3M. The filing follows a prior Item 4.02 non-reliance disclosure and is part of a broader restatement covering 2022-2025 periods, signaling deep-seated accounting control issues.
Actionable Insight
This restatement confirms material accounting failures, heightening delisting risk as the company already faces Nasdaq listing deficiencies. The going concern warning, combined with minimal cash ($42K) vs. heavy debt ($3.68M in convertible notes), suggests equity dilution or restructuring is imminent. Short sellers should monitor for additional restatements or NASDAQ non-compliance actions.
Key Facts
- Revenue for Q1 2025 was restated to $441,940 from a previously reported $615,835, a $350,000 reduction.
- Q1 2025 net loss increased to $660,058 from the previously reported $331,231, a $328,827 increase.
- Long-term financing receivables of $1,423,054 were reversed and reclassified to contract assets, with a full $217,584 reserve.
- Working capital deficit was $3.85M as of March 31, 2025, with only $42,311 cash on hand against $7.25M in current liabilities.
- Company has a going concern qualification with an accumulated deficit of $29.15M and negative operating cash flow.
- The restatement covers accounting errors from January 1, 2022 through September 30, 2025, affecting classification, valuation, and collectability of receivables and revenue timing.
- Prior 8-K Item 4.02 (May 1, 2026) announced the non-reliance on previously issued financials for all periods from 2022 to Q3 2025.
Financial Impact
Restatement reduced Q1 2025 revenue by $350,000, increased net loss by $328,827, and reduced stockholders' equity by $1.3 million. Long-term receivables of $1.42M were reclassified to contract assets with a full reserve.
Risk Factors
- Restatement undermines financial credibility and may trigger investor lawsuits or SEC inquiry.
- Nasdaq delisting remains a material risk with multiple ongoing listing deficiencies.
- Liquidity crisis: only $42,311 cash versus $7.25M current liabilities and negative operating cash flow of $776K in Q1.
- Further accounting corrections may emerge for 2022-2025 periods, causing additional earnings adjustments.
- Heavy reliance on toxic convertible financing (Mast Hill, Pacific Pier, 1800 Diagonal) with anti-dilution and default penalties.
Market Snapshot
Documents Analyzed
This report is based on 8 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 10-Q/A Filing (Primary) | 0001493152-26-027401 |
| Exhibit: ex31-02.htm | 0001493152-26-027401 |
| Exhibit: ex31-01.htm | 0001493152-26-027401 |
| Exhibit: ex32-02.htm | 0001493152-26-027401 |
| Exhibit: ex32-01.htm | 0001493152-26-027401 |
| Document: 0001493152-26-027401-index-headers.html | 0001493152-26-027401 |
| Document: 0001493152-26-027401-index.html | 0001493152-26-027401 |
| Document: 0001493152-26-027401.txt | 0001493152-26-027401 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
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Jun 8, 2026
6d ago
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8-K
| $0.7744 awaiting T+5 | awaiting T+5 | — | $1.00 (−29.13%) |
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Jun 5, 2026
9d ago
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10-Q/A
| $0.6900 awaiting T+5 | awaiting T+5 | — | $1.00 (−44.93%) |
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Jun 5, 2026
9d ago
|
10-Q/A
| $0.6900 awaiting T+5 | awaiting T+5 | — | $1.00 (−44.93%) |
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Jun 5, 2026
9d ago
|
10-Q/A
| $0.6900 awaiting T+5 | awaiting T+5 | — | $1.00 (−44.93%) |
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Jun 5, 2026
9d ago
|
10-K/A
| $0.6900 awaiting T+5 | awaiting T+5 | — | $1.00 (−44.93%) |
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May 29, 2026
16d ago
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Press Release
| $0.7900 $0.7600 | ▲ +3.80% | ▲ +1.05% | $1.00 (−26.58%) |
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May 29, 2026
16d ago
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8-K
| $0.7900 $0.7600 | ▲ +3.80% | ▲ +1.05% | $1.00 (−26.58%) |
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Apr 28, 2026
6w ago
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8-K
| $0.7750 $0.9580 | ▼ −23.61% | ▼ −20.50% | $1.00 (−29.03%) |
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Apr 23, 2026
7w ago
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8-K
| $0.7960 $0.7750 | ▲ +2.64% | ▲ +4.12% | $1.00 (−25.63%) |
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Apr 23, 2026
7w ago
|
Press Release
| $0.7960 $0.7750 | ▲ +2.64% | ▲ +4.12% | $1.00 (−25.63%) |
US Market Status
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