secwatch.observer — SEC 8-K summary
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Issuer:     OLENOX INDUSTRIES INC. (OLOX)
CIK:        0001023994
Form:       8-K
Filed at:   2023-05-22T23:59:59+00:00
Accession:  0001213900-23-041743
Event type: debt
Sentiment:  neutral
Materiality: 0.40
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Safe & Green subsidiary sells $710.5K future receivables for $475K net cash advance
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- SG Building Blocks sold $710,500 of future receivables for $500,000 purchase price, netting $475,000 after fees.
- Cedar Advance will collect $25,375 weekly via ACH debit until the full $710,500 is remitted.
- The obligations under the agreement are guaranteed by another subsidiary, SG Echo, LLC.
- Upon default, Cedar may demand immediate payment of all remaining amounts due.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1023994/000121390023041743/0001213900-23-041743-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1023994/000121390023041743/ea178885-8k_safeandgreen.htm
  HTML page:      https://secwatch.observer/filing/0001213900-23-041743

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