secwatch.observer — SEC 8-K summary
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Issuer:     OLENOX INDUSTRIES INC. (OLOX)
CIK:        0001023994
Form:       8-K
Filed at:   2023-11-22T23:59:59+00:00
Accession:  0001213900-23-089582
Event type: debt
Sentiment:  negative
Materiality: 0.60
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1023994/000121390023089582/0001213900-23-089582-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1023994/000121390023089582/ea188920-8k_safeandgreen.htm
  HTML page:      https://secwatch.observer/filing/0001213900-23-089582

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