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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 | ||