---
schema_version: "secwatch.filing_event.v1"
accession: "0001213900-23-089582"
form_type: "8-K"
ticker: "OLOX"
cik: "0001023994"
company_name: "OLENOX INDUSTRIES INC."
filed_at: "2023-11-22T23:59:59+00:00"
generated_at: "2026-06-07T22:03:17.734751+00:00"
event_type: "debt"
sentiment: "negative"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# Safe & Green subsidiary sells $511K future receivables for $360K cash advance

## Summary
- SG Building Blocks sold $511,200 of future receivables to Cedar Advance for $360,000 purchase price, net $342,200 after fees.
- Weekly ACH debits of $20,300 will be taken from SG Building Blocks' account until the full amount is paid.
- Obligations guaranteed by subsidiary SG Echo, LLC; default can trigger immediate full balance due.
- Fees include $18,000 underwriting, $50 wire fee, and $195 UCC filing fee, deducted from purchase price.

## SEC filing metadata
- accession: 0001213900-23-089582
- form_type: 8-K
- ticker: OLOX
- cik: 0001023994
- company_name: OLENOX INDUSTRIES INC.
- filed_at: 2023-11-22T23:59:59+00:00
- event_type: debt
- sentiment: negative
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1023994/000121390023089582/0001213900-23-089582-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1023994/000121390023089582/ea188920-8k_safeandgreen.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001213900-23-089582
- JSON: https://secwatch.observer/filing/0001213900-23-089582.json
- Plain text: https://secwatch.observer/filing/0001213900-23-089582.txt

## Key facts
- Debt Financings
  OLENOX INDUSTRIES INC. incurred debt of $511,200 of its future receivables for a purchase price of $360,000 with Cedar Advance LLC.
  - Principal: $511,200 of its future receivables for a purchase price of $360,000
  - Counterparty: Cedar Advance LLC
  - Event: incurrence
  source text: On November 20, 2023, SG Building Blocks, Inc. (“SG Building Blocks”), a wholly owned subsidiary of Safe & Green Holdings Corp.(the “Company”), entered into a Cash Advance Agreement (“Cash Advance Agreement”) with Cedar Advance LLC (“Cedar”) pursuant to which SG Building Blocks sold to Cedar $511,200 of its future receivables for a purchase price of $360,000, less underwriting fees and expenses paid, for net funds provided of $342,200.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1023994/000121390023089582/0001213900-23-089582-index.htm
- Material Agreements
  OLENOX INDUSTRIES INC. entered into Cash Advance Agreement with Cedar Advance LLC valued at $511,200 (effective 2023-11-20).
  - Action: entry
  - Counterparty: Cedar Advance LLC
  - Value: $511,200
  - Effective: 2023-11-20
  source text: On November 20, 2023, SG Building Blocks, Inc. (“SG Building Blocks”), a wholly owned subsidiary of Safe & Green Holdings Corp.(the “Company”), entered into a Cash Advance Agreement (“Cash Advance Agreement”) with Cedar Advance LLC (“Cedar”) pursuant to which SG Building Blocks sold to Cedar $511,200 of its future receivables for a purchase price of $360,000, less underwriting fees and expenses paid, for net funds provided of $342,200.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1023994/000121390023089582/0001213900-23-089582-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.