Clean Energy Technologies Restates 2022–2025 Financials

What Happened
On May 1, 2026 the Board of Clean Energy Technologies, Inc. (CETY) concluded that the company’s accounting for certain long‑term receivables, contract assets, and the timing of revenue recognition and related interest income under U.S. GAAP was incorrect for the periods January 1, 2022 through September 30, 2025. As a result, the Company said financial statements and related communications for those periods should no longer be relied upon. The company filed this 8‑K on May 7, 2026 and said it will file amended reports: Form 10‑K/A for years ended December 31, 2024 and 2023, and Form 10‑Q/A for the quarters ended March 31, June 30, and September 30, 2025. CEO Kambiz Mahdi, CFO Calvin Pang, and Audit Committee Chair Lauren Morrison have discussed the matter.

Key Details

• Impacted Periods: January 1, 2022 through September 30, 2025.
• Accounting issues involve classification, valuation and collectability of certain long‑term receivables and contract assets, and timing of revenue recognition and related interest income under U.S. GAAP.
• Amendments planned: 10‑K/A for FY 2024 and 2023; 10‑Q/A for Q1, Q2 and Q3 of 2025.
• Company statement: issues primarily affect historical balance sheet items and do not, in the company’s view, impact current operations or underlying business activities.

Why It Matters
Investors should not rely on Clean Energy Technologies’ reported financials for the impacted periods until the company files the amended 10‑K/A and 10‑Q/A with restated figures. The restatements could change reported assets, revenues and interest income for those periods and may affect historical comparisons and valuation models. Watch for the amended filings and any accompanying reconciliations or management discussion to see the precise financial impact.