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BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2023
Accounting Policies [Abstract] |
SCHEDULE OF ESTIMATED USEFUL LIVES | SCHEDULE OF ESTIMATED USEFUL LIVES Furniture and fixtures 3 to 5 years Equipment 5 to 10 years
SCHEDULE OF FAIR VALUE OF ASSETS AND LIABILITIES ACQUIRED | As the Consistent Action Agreement did not quantify any considerations to gain the control, the deemed consideration paid is the fair value of 51% non-controlling interest as of January 1, 2023. The following table summarizes the fair value of the consideration paid and the fair value of assets acquired and liabilities assumed on January 1, 2023, the acquisition date. SCHEDULE OF FAIR VALUE OF ASSETS AND LIABILITIES ACQUIRED
Fair value of non-controlling interests |  | $ | 650,951 |
Fair value of previously held equity investment |  |  | 556,096 |
Subtotal |  | $ | 1,207,047 |
Recognized value of 100% of identifiable net assets |  |  | (1,207,047 | )
Goodwill Recognized |  | $ | - |
Recognized amounts of identifiable assets acquired and liabilities assumed (preliminary): |  |  |  |
Inventories |  | $ | 516,131 |
Cash and cash equivalents |  |  | 50,346 |
Trade and other receivables |  |  | 952,384 |
Advanced deposit |  |  | 672,597 |
Net fixed assets |  |  | 6,704 |
Trade and other payables |  |  | (1,021,897 | )
Advanced payments |  |  | (5,317 | )
Salaries and wages payables |  |  | (4,692 | )
Other receivable |  |  | 40,791 |
Total identifiable net assets |  | $ | 1,207,047 |
Unaudited Proforma of Consolidated Statement of Operations | Unaudited Proforma of Consolidated Statement of Operations
|  | 2023 |  |  | 2022 |
Sales |  |  | 14,702,977 |  |  |  | 4,029,087 |
Sales - Related Party |  |  | 410,486 |  |  |  | - |
Total Income |  |  | 15,113,463 |  |  |  | 4,029,087 |
Cost of Goods Sold |  |  | 14,023,209 |  |  |  | 2,758,977 |
Gross Profit |  |  | 1,090,254 |  |  |  | 1,270,110 |
Expense |  |  |  |  |  |  |  |
General and Administrative Expense |  |  | 684,893 |  |  |  | 507,321 |
Salaries |  |  | 1,671,071 |  |  |  | 782,657 |
Travel |  |  | 405,334 |  |  |  | 166,025 |
Professional Fees Legal & Accounting |  |  | 356,785 |  |  |  | 315,361 |
Facility Lease and Maintenance |  |  | 401,293 |  |  |  | 349,610 |
Consulting Engineering |  |  | 199,594 |  |  |  | 119,896 |
Stock Compensation |  |  | - |  |  |  | - |
Depreciation and Amortization |  |  | 26,692 |  |  |  | 30,076 |
Total Expense |  |  | 3,745,662 |  |  |  | 2,270,946 |
Net Profit / (Loss) From Operations |  |  | (2,655,408 | ) |  |  | (1,000,836 | )
Other Income & Expense |  |  |  |  |  |  |  |
Other Income |  |  | 81,583 |  |  |  | 55,577 |
Change in Derivative Liability |  |  | 326,539 |  |  |  | (331,495 | )
Gain / (Loss) on Debt Settlement and Write Down |  |  | (1,124,654 | ) |  |  | 2,556,916 |
Interest and Financing fees |  |  | (2,137,649 | ) |  |  | (1,125,371 | )
Net Profit / (Loss) Before Income Taxes |  |  | (5,509,589 | ) |  |  | 154,791 |
Income Tax Expense |  |  | (22,173 | ) |  |  | (18,283 | )
Net Profit / (Loss) |  |  | (5,531,762 | ) |  |  | 136,508 |
Non-controlling interest |  |  | 127,961 |  |  |  | - |
Net Profit / (Loss) attributable to Clean Energy Technologies, Inc. |  |  | (5,659,723 | ) |  |  | 136,508 |
Other Comprehensive Item |  |  |  |  |  |  |  |
Foreign Currency Translation Gain |  |  | (36,155 | ) |  |  | (160,673 | )
Total Comprehensible Income / (Loss) |  |  | (5,695,878 | ) |  |  | (24,165 | )
Non- Controlling interest |  |  |  |  |  |  |  |
Accumulative Other Comprehensive Income |  |  | 838 |  |  |  | - |
Total Comprehensive Income |  |  | (5,695,040 | ) |  |  | (24,165 | )
SCHEDULE OF FINANCIAL DATA | Selected Financial Data: SCHEDULE OF FINANCIAL DATA
|  | 2023 |  |  | 2022 |
|  | For the years ended December 31, |
|  | 2023 |  |  | 2022 |
Net Sales |  |  |  |  |  |  |  |
Manufacturing and Engineering |  | $ | 47,091 |  |  | $ | 203,078 |
Heat Recovery Solutions |  |  | 497,584 |  |  |  | 488,453 |
LNG Trading |  |  | 14,138,789 |  |  |  | 1,890,439 |
Waste to Energy |  |  | 429,999 |  |  |  | 81,242 |
Total Sales |  | $ | 15,113,463 |  |  | $ | 2,663,212 |
Segment income and reconciliation before tax |  |  |  |  |  |  |  |
Manufacturing and Engineering |  |  | (16,199 | ) |  |  | 124,437 |
Heat Recovery Solutions |  |  | 157,179 |  |  |  | 361,914 |
LNG Trading |  |  | 594,041 |  |  |  | 619,446 |
Waste to Energy |  |  | 355,233 |  |  |  | 68,399 |
Total Segment income |  |  | 1,090,254 |  |  |  | 1,174,196 |
Less: operating expense |  |  | (3,745,662 | ) |  |  | (2,163,947 | )
Less: other income and expenses |  |  | (2,854,181 | ) |  |  | 1,155,429 |
Net profit/ (loss) before income tax |  | $ | (5,509,589 | ) |  | $ | 165,678 |
|  | December 31, 2023 |  |  | December 31, 2022 |
Total Assets |  |  |  |  |  |  |  |
CETY & Manufacturing and Engineering |  | $ | 2,548,630 |  |  | $ | 5,518,460 |
Clean Energy HRS |  |  | 3,099,223 |  |  |  | 2,556,166 |
Waste to Energy |  |  | 523,566 |  |  |  | 39,703 |
LNG Trading |  |  | 5,339,618 |  |  |  | - |
Total Assets |  | $ | 11,511,037 |  |  | $ | 8,114,329 |
|  | 2023 |  |  | 2022 |
|  | For the years ended December 31, |
|  | 2023 |  |  | 2022 |
United States |  |  | 905,057 |  |  |  | 509,330 |
China |  |  | 14,138,789 |  |  |  | 1,925,950 |
Other international |  |  | 69,617 |  |  |  | 132,316 |
Total Sales |  |  | 15,113,463 |  |  |  | 2,567,596 |

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