Quarterly ResultJul 27, 2026, 06:26 AM
Clean Energy Technologies Q1 Net Loss $(662K); Going Concern Warning
AI Summary
Clean Energy Technologies reported a net loss of $(662,200) for the first quarter of 2026, a slight increase from $(660,058) in the prior year, despite total income rising to $783,705. The company's gross profit turned negative at $(13,930) for the quarter, down from $411,878 in Q1 2025. The filing includes a going concern warning, citing an accumulated deficit of $35.96 million and significant cash usage from operations. Additionally, a 1-for-15 reverse stock split was effective in October 2025, and a subsidiary made a $3.2 million refundable deposit for a potential acquisition.
Key Highlights
- Net loss for Q1 2026 was $(662,200), compared to $(660,058) in Q1 2025.
- Total income increased to $783,705 in Q1 2026 from $441,940 in Q1 2025.
- Gross profit declined significantly to $(13,930) in Q1 2026 from $411,878 in Q1 2025.
- Basic and diluted loss per share improved to $(0.05) in Q1 2026 from $(0.21) in Q1 2025.
- The company reported a going concern warning due to an accumulated deficit of $35.96 million and negative operating cash flow.
- Net cash used in operating activities was $(836,618) in Q1 2026, up from $(776,047) in Q1 2025.
- Cash and cash equivalents decreased to $39,078 at March 31, 2026, from $602,461 at December 31, 2025.
- A 1-for-15 reverse stock split became effective on October 6, 2025.
Price Impact
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