2023 Q2 Form 10-Q Financial Statement

#000107997323000723 Filed on May 15, 2023

View on sec.gov

Income Statement

Concept 2023 Q2 2023 Q1 2022 Q4
Revenue $0.00
YoY Change
Cost Of Revenue $0.00
YoY Change
Gross Profit $0.00
YoY Change
Gross Profit Margin
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $12.65K $13.11K
YoY Change 15.89% 79.1%
% of Gross Profit
Operating Expenses $878.4K -$454.5K
YoY Change 508.44% 281.06%
Operating Profit -$878.4K -$454.5K
YoY Change 508.44% 281.06%
Interest Expense $47.95K $31.15K
YoY Change 293.61% -97.43%
% of Operating Profit
Other Income/Expense, Net -$69.58K -$49.54K
YoY Change 621.23% -102.61%
Pretax Income
YoY Change
Income Tax $0.00
% Of Pretax Income
Net Earnings -$947.9K -$504.0K
YoY Change 515.39% -128.33%
Net Earnings / Revenue
Basic Earnings Per Share -$0.01 $0.00
Diluted Earnings Per Share -$0.01 $0.00
COMMON SHARES
Basic Shares Outstanding 116.3M shares 115.9M shares
Diluted Shares Outstanding 116.5M shares 115.9M shares

Balance Sheet

Concept 2023 Q2 2023 Q1 2022 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $148.1K $230.0K $297.3K
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $328.1K $460.2K $392.8K
YoY Change
LONG-TERM ASSETS
Property, Plant & Equipment $3.167M $2.792M $2.429M
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $3.963M $2.842M $2.479M
YoY Change
TOTAL ASSETS
Total Short-Term Assets $328.1K $460.2K $392.8K
Total Long-Term Assets $3.963M $2.842M $2.479M
Total Assets $4.291M $3.302M $2.872M
YoY Change
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $86.20K $110.9K $149.8K
YoY Change
Accrued Expenses $19.39K $11.94K $7.489K
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $2.059M $1.415M $848.0K
YoY Change
Long-Term Debt Due $489.7K $368.3K $277.6K
YoY Change
Total Short-Term Liabilities $600.0K $497.1K $440.6K
YoY Change
LONG-TERM LIABILITIES
Long-Term Debt
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $600.0K $497.1K $440.6K
Total Long-Term Liabilities
Total Liabilities $2.272M $1.624M $1.011M
YoY Change
SHAREHOLDERS EQUITY
Retained Earnings -$3.885M -$2.937M -$2.433M
YoY Change
Common Stock $118.2K $116.3K $115.9K
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost) $66.40K $66.40K $66.40K
YoY Change
Treasury Stock Shares
Shareholders Equity $2.020M $1.679M $1.861M
YoY Change
Total Liabilities & Shareholders Equity $4.291M $3.302M $2.872M
YoY Change

Cashflow Statement

Concept 2023 Q2 2023 Q1 2022 Q4
OPERATING ACTIVITIES
Net Income -$947.9K -$504.0K
YoY Change 515.39% -128.33%
Depreciation, Depletion And Amortization $12.65K $13.11K
YoY Change 15.89% 79.1%
Cash From Operating Activities -$302.9K
YoY Change 137.55%
INVESTING ACTIVITIES
Capital Expenditures $393.4K
YoY Change -8.49%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$379.8K
YoY Change -11.66%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities $615.3K
YoY Change 11.7%
NET CHANGE
Cash From Operating Activities -$302.9K
Cash From Investing Activities -$379.8K
Cash From Financing Activities $615.3K
Net Change In Cash -$67.40K
YoY Change 922.1%
FREE CASH FLOW
Cash From Operating Activities -$302.9K
Capital Expenditures $393.4K
Free Cash Flow -$696.2K
YoY Change 24.91%

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175800 usd
CY2023Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
615250 usd
CY2022Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
550800 usd
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
-67397 usd
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
-6594 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
297349 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
318779 usd
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
229952 usd
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
312185 usd
CY2022Q1 CETI Stock Issued For Conversion Of Advance On Joint Venture
StockIssuedForConversionOfAdvanceOnJointVenture
233983 usd
CY2023Q1 CETI Note Payable Conversion
NotePayableConversion
60000 usd
CY2022Q1 CETI Stock Issued For Conversion Of Convertible Notes Payable And Accrued Interest
StockIssuedForConversionOfConvertibleNotesPayableAndAccruedInterest
1853195 usd
CY2023Q1 CETI Contingent Liability
ContingentLiability
6000 usd
CY2022Q4 CETI Contingent Liability
ContingentLiability
5700 usd
CY2023Q1 us-gaap Production Costs Cumulative
ProductionCostsCumulative
1960605 usd
CY2022Q4 us-gaap Production Costs Cumulative
ProductionCostsCumulative
1604983 usd
CY2023Q1 us-gaap Impairment Of Oil And Gas Properties
ImpairmentOfOilAndGasProperties
0 usd
CY2022Q1 us-gaap Impairment Of Oil And Gas Properties
ImpairmentOfOilAndGasProperties
0 usd
CY2023Q1 us-gaap Gain Loss On Sale Of Unproved Property
GainLossOnSaleOfUnprovedProperty
0 usd
CY2023Q1 us-gaap Use Of Estimates
UseOfEstimates
<p id="xdx_84D_eus-gaap--UseOfEstimates_zOHFwY3E07Zd" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><i><span style="text-decoration: underline"><span id="xdx_864_zfXHI7NcCAIc">Use of estimates</span></span></i></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.</p> <p style="font: 9.5pt Times New Roman, Times, Serif; margin: 0.55pt 0 0"> </p>
CY2023Q1 us-gaap Cash
Cash
0 usd
CY2022Q4 us-gaap Cash
Cash
0 usd
CY2023Q1 CETI Texas Railroad Commission Bond
TexasRailroadCommissionBond
50000 usd
CY2022Q1 us-gaap Gain Loss On Sale Of Unproved Property
GainLossOnSaleOfUnprovedProperty
0 usd
CY2023Q1 us-gaap Development Costs Cumulative
DevelopmentCostsCumulative
0 usd
CY2022Q4 us-gaap Development Costs Cumulative
DevelopmentCostsCumulative
0 usd
CY2023Q1 us-gaap Cost Depreciation Amortization And Depletion
CostDepreciationAmortizationAndDepletion
0 usd
CY2022Q1 us-gaap Cost Depreciation Amortization And Depletion
CostDepreciationAmortizationAndDepletion
0 usd
CY2023Q1 CETI Impairment Proved Properties
ImpairmentProvedProperties
0 usd
CY2022Q1 CETI Impairment Proved Properties
ImpairmentProvedProperties
0 usd
CY2023Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
300110 usd
CY2022Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
12561 usd
CY2023Q1 CETI Unearned Stocks Compensation
UnearnedStocksCompensation
151890 usd
CY2022Q4 CETI Unearned Stocks Compensation
UnearnedStocksCompensation
0 usd
CY2023Q1 us-gaap Derivative Liabilities Noncurrent
DerivativeLiabilitiesNoncurrent
79489 usd
CY2023Q1 us-gaap Derivative Liabilities
DerivativeLiabilities
79489 usd
CY2023Q1 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p id="xdx_845_eus-gaap--ConcentrationRiskCreditRisk_z8quz1LwrNH5" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><i><span style="text-decoration: underline"><span id="xdx_868_z5p9Rac7qoce">Concentration of credit risks</span></span></i></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company maintains accounts with financial institutions. All cash in checking accounts is non-interest bearing and is fully secured by the Federal Deposit Insurance Corporation (FDIC). At times, cash balances may exceed the maximum coverage provided by the FDIC on insured depositor accounts. The Company believes it mitigates its risk by depositing its cash and cash equivalents with major financial institutions.</p> <p style="font: 9.5pt Times New Roman, Times, Serif; margin: 0.5pt 0 0"> </p>
CY2021Q1 CETI Working Interest
WorkingInterest
0.1875 pure
CY2023Q1 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
71329 usd
CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
58224 usd
CY2023Q1 us-gaap Property Plant And Equipment Other Net
PropertyPlantAndEquipmentOtherNet
2792121 usd
CY2022Q4 us-gaap Property Plant And Equipment Other Net
PropertyPlantAndEquipmentOtherNet
2429035 usd
CY2023Q1 us-gaap Depreciation
Depreciation
13105 usd
CY2022Q1 us-gaap Depreciation
Depreciation
7317 usd
CY2023Q1 us-gaap Debt Current
DebtCurrent
1484750 usd
CY2022Q4 us-gaap Debt Current
DebtCurrent
869500 usd
CY2023Q1 us-gaap Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
69486 usd
CY2022Q4 us-gaap Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
21532 usd
CY2023Q1 us-gaap Short Term Borrowings
ShortTermBorrowings
1415264 usd
CY2022Q4 us-gaap Short Term Borrowings
ShortTermBorrowings
847968 usd
CY2023Q1 us-gaap Long Term Debt Current
LongTermDebtCurrent
368264 usd
CY2022Q4 us-gaap Long Term Debt Current
LongTermDebtCurrent
277613 usd
CY2023Q1 us-gaap Long Term Debt
LongTermDebt
1047000 usd
CY2022Q4 us-gaap Long Term Debt
LongTermDebt
570355 usd
CY2023Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
437750 usd
CY2023Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
175000 usd
CY2023Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
872000 usd
CY2023Q1 us-gaap Other Long Term Debt
OtherLongTermDebt
1484750 usd
CY2022Q1 us-gaap Embedded Derivative Gain On Embedded Derivative
EmbeddedDerivativeGainOnEmbeddedDerivative
72369 usd
CY2022Q1 us-gaap Embedded Derivative Loss On Embedded Derivative
EmbeddedDerivativeLossOnEmbeddedDerivative
86858 usd
CY2022Q1 us-gaap Embedded Derivative Gain Loss On Embedded Derivative Net
EmbeddedDerivativeGainLossOnEmbeddedDerivativeNet
-14489 usd
CY2022Q4 us-gaap Shares Issued Price Per Share
SharesIssuedPricePerShare
0.0072
CY2023Q1 us-gaap Shares Issued Price Per Share
SharesIssuedPricePerShare
0.0060
CY2022 us-gaap Debt Instrument Convertible Conversion Price Decrease
DebtInstrumentConvertibleConversionPriceDecrease
0.0024
CY2023Q1 us-gaap Debt Instrument Convertible Conversion Price Increase
DebtInstrumentConvertibleConversionPriceIncrease
0.0032
CY2022 us-gaap Derivative Average Remaining Maturity1
DerivativeAverageRemainingMaturity1
P1Y
CY2023Q1 us-gaap Derivative Average Remaining Maturity1
DerivativeAverageRemainingMaturity1
P0Y9M29D
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMinimum
1.5108 pure
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMaximum
1.7120 pure
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMinimum
1.0374 pure
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMaximum
1.5991 pure
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0479 pure
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0476 pure
CY2021Q4 us-gaap Derivative Fair Value Of Derivative Net
DerivativeFairValueOfDerivativeNet
3116734 usd
CY2023Q1 CETI Issuance Of Embedded Derivatives
IssuanceOfEmbeddedDerivatives
151858 usd
CY2022 CETI Issuance Of Embedded Derivatives
IssuanceOfEmbeddedDerivatives
396013 usd
CY2022 us-gaap Conversion Of Stock Amount Issued1
ConversionOfStockAmountIssued1
3512747 usd
CY2023Q1 CETI Changes In Fair Value Inputs And Assumptions Reflected In Income
ChangesInFairValueInputsAndAssumptionsReflectedInIncome
-72369 usd
CY2023Q1 us-gaap Derivative Fair Value Of Derivative Net
DerivativeFairValueOfDerivativeNet
79489 usd
CY2023Q1 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2021Q4 us-gaap Noninterest Bearing Deposit Liabilities
NoninterestBearingDepositLiabilities
233983 usd
CY2023Q1 CETI Consulting Service
ConsultingService
128268 usd
CY2022 CETI Consulting Service
ConsultingService
431399 usd
CY2023Q1 CETI Consulting Fees
ConsultingFees
59355 usd
CY2022 CETI Consulting Fees
ConsultingFees
194712 usd
CY2023Q1 CETI Quoted Market Price
QuotedMarketPrice
0.782 pure
CY2023Q1 us-gaap Share Price
SharePrice
0.5765
CY2023Q1 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21 pure
CY2023Q1 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
101988 usd
CY2022Q1 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
279675 usd
CY2023Q1 CETI Less Valuation Allowance
LessValuationAllowance
101988 usd
CY2022Q1 CETI Less Valuation Allowance
LessValuationAllowance
279675 usd
CY2023Q1 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
612421 usd
CY2022Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
510433 usd
CY2023Q1 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
612421 usd
CY2022Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
510433 usd
CY2023Q1 us-gaap Operating Loss Carryforwards
OperatingLossCarryforwards
612000 usd
CY2023Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0 usd
CY2022 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0 usd
CY2023Q1 CETI Average Sales Price
AverageSalesPrice
77.01
CY2022 CETI Average Sales Price
AverageSalesPrice
94.13
CY2023Q1 CETI Average Sales Price
AverageSalesPrice
77.01
CY2023Q1 CETI Recoverable Oil Price
RecoverableOilPrice
3500000000 usd
CY2023Q1 us-gaap Production Costs
ProductionCosts
1000000000.0 usd
CY2023Q1 CETI Recoverable Oil Price Net
RecoverableOilPriceNet
2500000000 usd

Files In Submission

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ceti-20230331_cal.xml Edgar Link unprocessable
0001079973-23-000723-index-headers.html Edgar Link pending
0001079973-23-000723-index.html Edgar Link pending
0001079973-23-000723.txt Edgar Link pending
0001079973-23-000723-xbrl.zip Edgar Link pending
ceti-20230331.xsd Edgar Link pending
ceti_10q.htm Edgar Link pending
ex31x1.htm Edgar Link pending
ex31x2.htm Edgar Link pending
ex32x1.htm Edgar Link pending
Financial_Report.xlsx Edgar Link pending
MetaLinks.json Edgar Link pending
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ceti-20230331_def.xml Edgar Link unprocessable
ceti-20230331_pre.xml Edgar Link unprocessable
ceti-20230331_lab.xml Edgar Link unprocessable
FilingSummary.xml Edgar Link unprocessable
ceti_10q_htm.xml Edgar Link completed
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