---
schema_version: "secwatch.filing_event.v1"
accession: "0001213900-23-097702"
form_type: "8-K"
ticker: "OLOX"
cik: "0001023994"
company_name: "OLENOX INDUSTRIES INC."
filed_at: "2023-12-21T23:59:59+00:00"
generated_at: "2026-06-07T08:43:27.713616+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.55
calibrated_materiality_score: 0.55
confidence: "high"
source: SEC EDGAR
---

# Safe & Green Holdings signs modular construction deal with unit; appoints new auditor

## Summary
- SG Echo LLC (wholly owned sub) entered Master Purchase Agreement with Safe & Green Development Corp (majority-owned) for modular construction services on a project basis.
- Initial project: Magnolia Gardens in Durant, OK – 800 residential units with $140M projected total cost; SG Echo receives 12% fee.
- Payment terms: 40% deposit, monthly progress payments (up to 35%), delivery payment (15%), final 10% at substantial completion; prior Fabrication Agreement terminated.
- Dismissed Whitley Penn as auditor; engaged M&K CPAS for FY ending Dec 31, 2023. No prior disagreements; Whitley Penn's 2022 report included a going concern paragraph.

## SEC filing metadata
- accession: 0001213900-23-097702
- form_type: 8-K
- ticker: OLOX
- cik: 0001023994
- company_name: OLENOX INDUSTRIES INC.
- filed_at: 2023-12-21T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.55
- calibrated_materiality_score: 0.55
- confidence: high
- sec_items: 1.01, 1.02, 4.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1023994/000121390023097702/0001213900-23-097702-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1023994/000121390023097702/ea190441-8k_safeandgreen.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001213900-23-097702
- JSON: https://secwatch.observer/filing/0001213900-23-097702.json
- Plain text: https://secwatch.observer/filing/0001213900-23-097702.txt

## Key facts
- Auditor Changes
  OLENOX INDUSTRIES INC. dismissed Whitley Penn LLP as its auditor.
  - Action: dismissal
  - Auditor: Whitley Penn LLP
  - Successor: M&K CPAS PLLC
  source text: On December 15, 2023, the Company (i) entered into an engagement letter with M&K and engaged M&K as the Company’s independent registered public accounting firm effective immediately and (ii) dismissed Whitley Penn LLP
  evidence_url: https://www.sec.gov/Archives/edgar/data/1023994/000121390023097702/0001213900-23-097702-index.htm
- Auditor Changes
  OLENOX INDUSTRIES INC. engaged M&K CPAS PLLC as its auditor.
  - Action: engagement
  - Auditor: M&K CPAS PLLC
  source text: On December 15, 2023, the Company (i) entered into an engagement letter with M&K and engaged M&K as the Company’s independent registered public accounting firm effective immediately
  evidence_url: https://www.sec.gov/Archives/edgar/data/1023994/000121390023097702/0001213900-23-097702-index.htm
- Material Agreements
  OLENOX INDUSTRIES INC. entered into Master Purchase Agreement with Safe and Green Development Corporation valued at Agreement for modular construction services; fee equal to 12% of agreed cost per project (effective 2023-12-17).
  - Action: entry
  - Counterparty: Safe and Green Development Corporation
  - Value: Agreement for modular construction services; fee equal to 12% of agreed cost per project
  - Effective: 2023-12-17
  source text: On December 17, 2023, SG Echo LLC (“SG Echo”), a wholly owned subsidiary of Safe & Green Holdings Corp.(the “Company”), entered into a Master Purchase Agreement (the “Master Purchase Agreement”) with Safe and Green Development Corporation (“SG DevCo”), a majority owned subsidiary of the Company, pursuant to which SG DevCo may engage SG Echo from time to time to provide modular construction design, engineering, fabrication, delivery and other services (collectively, the “Work”) on such terms as the parties may mutually agree.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1023994/000121390023097702/0001213900-23-097702-index.htm
- Material Agreements
  OLENOX INDUSTRIES INC. terminated Fabrication Agreement dated December 2, 2022 with Safe and Green Development Corporation valued at Termination of Fabrication Agreement relating to McLean mixed-use site (effective 2023-12-18).
  - Action: termination
  - Counterparty: Safe and Green Development Corporation
  - Value: Termination of Fabrication Agreement relating to McLean mixed-use site
  - Effective: 2023-12-18
  source text: In connection with the entry into the Master Purchase Agreement, on December 18, 2023, SG Echo and SG DevCo terminated that certain Fabrication Agreement, dated December 2, 2022, between the parties relating to the McLean mixed-use site.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1023994/000121390023097702/0001213900-23-097702-index.htm

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