secwatch.observer — SEC 8-K summary
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Issuer:     OLENOX INDUSTRIES INC. (OLOX)
CIK:        0001023994
Form:       8-K
Filed at:   2022-12-06T23:59:59+00:00
Accession:  0001213900-22-077939
Event type: other_material
Sentiment:  neutral
Materiality: 0.45
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

SG Blocks subsidiary enters fabrication deal for 800 modular rental units in Durant, OK
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- SGB Development Corp. contracts with affiliate SG Echo, LLC for ~800 multifamily units (800,000 sq ft) at Magnolia Gardens.
- SG Echo will receive a fee equal to 15% of total project cost for fabrication and related services.
- Agreement is subject to SGB Development securing third-party financing for the Durant, OK project.
- Design must be approved by client before fabrication; project to be fabricated in phases of 100-150 units.
- Payment terms: 30% down, 65% on completion of each unit's fabrication/testing/3P inspection, 5% final upon installation acceptance.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1023994/000121390022077939/0001213900-22-077939-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1023994/000121390022077939/ea169722-8k_sgblocks.htm
  HTML page:      https://secwatch.observer/filing/0001213900-22-077939

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer