Clean Energy Technologies (CETY) has released an update to notify the public and investors about an entry into a material definitive agreement.
Clean Energy Technologies, Inc. has struck a deal with Coventry Enterprises LLC, involving the sale of a convertible promissory note for $92,000, at a discounted purchase price of $80,000. The agreement lays out a repayment plan of monthly installments and allows for conversion of the unpaid amount into company common stock under certain conditions, such as an event of default. This financial maneuver is designed to bolster the company’s capital, with the transaction being exempt from registration under securities law provisions.
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For a comprehensive understanding of the announcement, you can read the full document here.
