Key Highlights

  • Clean Energy Technologies sold a $166,500 convertible promissory note to Coventry Enterprises for $150,000.
  • The note bears a one‑time 12% interest charge, matures in the spring following issuance, and requires ten monthly payments of $18,648 beginning in early August.
  • Conversion is set at 85% of the lowest closing price over a ten‑day window, with ownership caps of 4.99% and 19.99% subject to Nasdaq Rule 5635 approval, and a $1,500 fee deduction per conversion.

Clean Energy Technologies, Inc. Entered a securities purchase agreement that issued a convertible promissory note to Coventry Enterprises LLC. The transaction supplied $150,000 in cash for general working‑capital purposes, reflecting the company’s strategy to strengthen its balance sheet ahead of upcoming renewable‑energy initiatives.

Funding Transaction

The note’s face value is $166,500, but Coventry paid $150,000 for the instrument.

Note Terms

The convertible note accrues a single 12% interest charge on the issuance date and is scheduled to mature the following spring. Repayment will be made in ten equal installments of $18,648 each, with the first payment due in early August and subsequent payments occurring on the seventh of each month.

Use of Proceeds

Proceeds are slated for general working‑capital needs, supporting ongoing development of clean‑energy projects and maintaining operational liquidity. The infusion aligns with the company’s strategy to fund near‑term capital expenditures without immediate equity dilution. The holder may exercise the right only if the resulting ownership does not exceed 4.99% of Clean Energy Technologies’ outstanding common stock.

Additionally, conversion cannot proceed unless shareholder approval required by Nasdaq Rule 5635 is secured when the transaction would cause more than 19.99% of shares to be issued after any required aggregation under the rule.

Ownership and Fee Adjustments

Each conversion event permits the holder to subtract $1,500 from the conversion amount to offset associated fees. This reduction ensures that conversion costs do not unduly erode the financial benefit to the investor while maintaining compliance with the stipulated ownership thresholds. No registration was required, and the filing conforms to the reporting obligations of the Securities Exchange Act of 1934.

This article is for informational purposes only and does not constitute financial advice. Please consult a licensed financial adviser before making investment decisions.