Clean Energy Technologies to restate multi-year results

Clean Energy Technologies, Inc. disclosed that its accounting for certain long-term receivables, contract assets, revenue recognition and related interest income under U.S. GAAP was incorrect for periods between January 1, 2022 and September 30, 2025.

Filing Impact

(Moderate)

Filing Sentiment

(Neutral)

Form Type

8-K

Rhea-AI Filing Summary

Clean Energy Technologies, Inc. disclosed that its accounting for certain long-term receivables, contract assets, revenue recognition and related interest income under U.S. GAAP was incorrect for periods between January 1, 2022 and September 30, 2025. As a result, all financial statements and related communications for these periods should no longer be relied upon. The company plans to file amended annual reports for 2023 and 2024 and amended quarterly reports for the first three quarters of 2025 to restate its financial statements. The board and audit committee members discussed these matters with the company’s independent registered public accounting firm.

Positive

None.

Negative

Non-reliance and restatement of multi-year financials: The company concluded its accounting was incorrect for long-term receivables, contract assets, and revenue timing from January 1, 2022 through September 30, 2025, and that all financial statements and related communications for these periods should no longer be relied upon.

Insights

Company warns investors not to rely on over three years of past financials.

Clean Energy Technologies determined its accounting was incorrect for long-term receivables, contract assets, and the timing of revenue and related interest income under U.S. GAAP from January 1, 2022 through September 30, 2025.

All financial statements and related communications for these periods are deemed unreliable, which is a serious disclosure event. The company states the issues relate primarily to historical balance sheet items and do not affect current operations or underlying business activities.

The company plans Form 10-K/A restatements for years ended December 31, 2023 and December 31, 2024, plus Form 10-Q/A restatements for the first three quarters of 2025. The board and audit committee have discussed the situation with the independent auditor, and investors will need those amended filings to understand the revised financial profile.

8-K Event Classification

Item 4.02 — Non-Reliance on Previously Issued Financial Statements or a Related Audit Report or Completed Interim Review

1 item

Item 4.02 Non-Reliance on Previously Issued Financial Statements or a Related Audit Report or Completed Interim Review Governance

Previously issued financial statements, a related audit report, or a completed interim review should no longer be relied upon.

Key Figures

Impacted period: January 1, 2022 – September 30, 2025 Annual restatements: Years ended December 31, 2023 and 2024 Quarterly restatements: March 31, 2025; June 30, 2025; September 30, 2025 +1 more

4 metrics

Impacted period January 1, 2022 – September 30, 2025 Span of financial statements deemed unreliable

Annual restatements Years ended December 31, 2023 and 2024 Form 10-K/A restated financial statements planned

Quarterly restatements March 31, 2025; June 30, 2025; September 30, 2025 Form 10-Q/A restated financial statements planned

Item cited Item 4.02 Non-Reliance on Previously Issued Financial Statements

Key Terms

Non-Reliance on Previously Issued Financial Statements, long-term receivables, contract assets, revenue recognition, +2 more

6 terms

Non-Reliance on Previously Issued Financial Statements regulatory

"Item 4.02 Non-Reliance on Previously Issued Financial Statements or Related Audit Report or Completed Interim Report."

long-term receivables financial

"classification, valuation, and collectability assessment of certain long-term receivables and contract assets"

contract assets financial

"classification, valuation, and collectability assessment of certain long-term receivables and contract assets"

Contract assets are amounts a company has earned by doing work or delivering goods under a customer agreement but has not yet billed or collected because certain contract conditions remain. Think of it as completed work sitting in a company’s toolbox waiting for an invoice trigger. For investors, growing contract assets signal future cash and revenue potential but also raise questions about timing, cash collection risk and the real strength of reported sales.

revenue recognition financial

"as well as the timing of revenue recognition and related interest income under U.S. GAAP, was incorrect."

Revenue recognition is the accounting rule that determines when a company records a sale as income on its financial statements, which may differ from when cash actually arrives. It matters to investors because the timing and method used can change reported profits and growth, so understanding it is like knowing whether a scoreboard counts goals as soon as they’re scored or only after they’re confirmed — the timing affects comparisons, forecasts, and valuation.

U.S. GAAP financial

"timing of revenue recognition and related interest income under U.S. GAAP, was incorrect."

U.S. GAAP is a set of rules and standards that companies in the United States follow to prepare their financial reports. It helps ensure that financial information is consistent and clear, so investors and others can compare and understand a company's financial health easily.

independent registered public accounting firm regulatory

"have discussed the matters disclosed in this Item 4.02 with the Company’s independent registered public accounting firm, TAAD, LLP."

An independent registered public accounting firm is an outside accounting company officially registered with the government regulator to examine and report on a public company's financial records and controls. Investors treat its reports like an impartial inspector’s certificate — they add credibility to financial statements, help spot errors or misleading claims, and reduce the risk that shareholders are relying on unchecked or biased numbers.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What did Clean Energy Technologies (CETY) disclose in this 8-K filing?

Clean Energy Technologies disclosed that its accounting for certain long-term receivables, contract assets, revenue recognition, and related interest income was incorrect. As a result, all financial statements and related communications for periods from January 1, 2022 through September 30, 2025 should no longer be relied upon.

Which Clean Energy Technologies financial periods are affected by the non-reliance notice?

The company identified issues affecting all fiscal periods between January 1, 2022 and September 30, 2025. Financial statements, earnings releases, investor presentations, and similar communications describing results during these periods are no longer reliable and will be superseded by future restated filings.

How will Clean Energy Technologies (CETY) correct the impacted financial statements?

Clean Energy Technologies plans to file an amended Form 10-K/A with restated financial statements for the years ended December 31, 2023 and December 31, 2024, and amended Forms 10-Q/A with restated financial statements for the quarters ended March 31, June 30, and September 30, 2025, reflecting corrected accounting treatment.

Do the accounting issues affect Clean Energy Technologies’ current operations?

The company stated it believes the issues relate primarily to historical balance sheet items. It also indicated they do not impact its current operations or underlying business activities, suggesting day-to-day business performance is not directly affected by the identified accounting corrections.

What areas of accounting were problematic for Clean Energy Technologies (CETY)?

The company reported incorrect treatment in the historical classification, valuation, and collectability assessment of certain long-term receivables and contract assets, as well as the timing of revenue recognition and related interest income under U.S. GAAP. These issues together triggered the non-reliance conclusion and planned restatements.

Did Clean Energy Technologies involve its auditor in addressing these accounting issues?

Yes. The CEO, CFO, and audit committee chair discussed the identified matters with TAAD, LLP, the company’s independent registered public accounting firm. This involvement indicates the auditor is engaged as management prepares the required amended annual and quarterly reports with restated financial statements.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 05/07/2026 - 05:06 PM

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C.

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) OF THE

SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported): May 1, 2026

Clean Energy Technologies, Inc.

(Exact name of registrant as specified in its charter)

001-41654		20-2675800
(Commission File Number)		(IRS Employer Identification Number)

1340 Reynolds Avenue, Unit 120

Irvine, CA

92614

(Address of Principal Executive Offices)

(Zip Code)

(949) 273-4990

(Registrant’s telephone number, including area code)

N/A

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR240.14d-2(b))

☐	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of Each Class		Trading Symbol(s)		Name of Each Exchange on Which Registered
Common Stock, par value $0.001		CETY		The Nasdaq Stock Market LLC

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 4.02 Non-Reliance on Previously Issued Financial Statements or Related Audit Report or Completed Interim Report.

On May 1, 2026, the Board of Directors (the “Board”) of Clean Energy Technologies, Inc. (the “Company”) concluded that between January 1, 2022, and September 30, 2025, the Company’s accounting with respect to the historical classification, valuation, and collectability assessment of certain long-term receivables and contract assets, as well as the timing of revenue recognition and related interest income under U.S. GAAP, was incorrect. As a result, the Company’s financial statements for all of the fiscal periods between January 1, 2022, and September 30, 2025 (the “Impacted Periods”) should no longer be relied upon. Similarly, any previously furnished or filed reports, related earnings releases, investor presentations or similar communications of the Company describing the Company’s financial results during the Impacted Periods should no longer be relied upon.

The Company believes these matters relate primarily to historical balance sheet items and do not impact the Company’s current operations or underlying business activities.

The Company intends to immediately file an amended Annual Report on Form 10-K/A with restated financial statements for the years ended December 31, 2024, and December 31, 2023, and to file amended Quarterly Reports on Form 10-Q/A with restated financial statements for the quarterly periods ended March 31, 2025, June 30, 2025, and September 30, 2025, in each case to reflect the appropriate accounting treatment for the items described above.

Kambiz Mahdi, the Company’s CEO and member of the Board, Calvin Pang, the Company’s CFO and member of the Board, and Lauren Morrison, member of the Board and Chair of the Audit Committee, have discussed the matters disclosed in this Item 4.02 with the Company’s independent registered public accounting firm, TAAD, LLP.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, hereunder duly authorized.

	CLEAN ENERGY TECHNOLOGIES, INC.

Dated: May 7, 2026	By:	/s/ Kambiz Mahdi
		Kambiz Mahdi
		Chief Executive Officer

Source: View Original Filing on SEC EDGAR

Filing Exhibits & Attachments

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Clean Energy Technologies to restate multi-year results