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INTANGIBLE ASSETS | 12 Months Ended
--- | ---
Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract] |
INTANGIBLE ASSETS | NOTE 6 – INTANGIBLE ASSETS Intangible assets were comprised of the following at: SCHEDULE OF INTANGIBLE ASSETS
|  | December 31, 2023 |  |  | December 31, 2022 |
Goodwill |  | $ | 747,976 |  |  | $ | 747,976 |
LWL Investment |  |  | 1,468,709 |  |  |  | 1,468,709 |
Intangible assets - Shuya |  |  | 12,914 |  |  |  | - |
License |  |  | 354,322 |  |  |  | 354,322 |
Patents |  |  | 190,789 |  |  |  | 190,789 |
Accumulated Amortization |  |  | (98,972 | ) |  |  | (87,096 | )
Net Fixed Assets |  | $ | 26,82,893 |  |  | $ | 2,674,700 |
Our Amortization Expense for the years ended December 31, 2023 and 2022 was $11,876 and 11,876 respectively. Based on the foregoing analysis of the facts surrounding the Company’s acquisition of LWL, it is the Company’s position that the Company is the acquirer of LWL, under the acquisition method of accounting. As such, as of November 8, 2021 (the acquisition date), the Company recognized, separately from goodwill, the identifiable assets acquired and the liabilities assumed in the Business combination. The following table presents the purchase price allocation: SCHEDULE OF BUSINESS ACQUISITION PURCHASE PRICE ALLOCATION
Consideration: |  |  |  |
Total purchaser consideration – cash paid |  | $ | 1,500,000 |
Assets acquired: |  |  |  |
Cash and cash equivalents |  | $ | 6,156 |
Prepayment |  | $ | 13,496 |
Other receivable |  | $ | 20,000 |
Trading Contracts |  | $ | 146,035 |
Shenzhen Gas Relationship |  | $ | 1,314,313 |
Total assets acquired |  | $ | 1,508,539 |
Liabilities assumed: |  |  |  |
Advance Receipts |  | $ | (8,539 | )
Taxes Payable |  | $ | 179 |
Net Assets Acquired: |  | $ | 1,500,000 |
If LWL reach USD 5 million in revenue or net profit of USD 1 million by December 31, 2023, then based on the performance contingency there will be issuance of 500,000 shares of CETY to the Seller. As of the date of the filing the performance contingencies had not been met.

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- Definition The entire disclosure for all or part of the information related to intangible assets. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 350 -SubTopic 30 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//350-30/tableOfContent + Details
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