---
schema_version: "secwatch.filing_event.v1"
accession: "0001213900-24-002461"
form_type: "8-K"
ticker: "OLOX"
cik: "0001023994"
company_name: "OLENOX INDUSTRIES INC."
filed_at: "2024-01-10T23:59:59+00:00"
generated_at: "2026-06-07T00:48:07.452105+00:00"
event_type: "debt"
sentiment: "negative"
materiality_score: 0.5
calibrated_materiality_score: 0.5
confidence: "high"
source: SEC EDGAR
---

# Safe & Green subsidiary sells $300k future receivables for $200k, net $190k

## Summary
- SG Building Blocks and SG Echo sold $300k of future receivables to Maison Capital for $200k purchase price.
- Net funds provided after underwriting fees and expenses were $190,000.
- Weekly payments of $12,500 will be debited from the merchants' bank account until $300k is paid.
- Obligations secured by a security interest in all accounts, receivables, and other assets.
- Cash advance carries $110k total cost, representing a 57.9% effective cost over the advance.

## SEC filing metadata
- accession: 0001213900-24-002461
- form_type: 8-K
- ticker: OLOX
- cik: 0001023994
- company_name: OLENOX INDUSTRIES INC.
- filed_at: 2024-01-10T23:59:59+00:00
- event_type: debt
- sentiment: negative
- materiality_score: 0.5
- calibrated_materiality_score: 0.5
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1023994/000121390024002461/0001213900-24-002461-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1023994/000121390024002461/ea191424-8k_safeandgreen.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001213900-24-002461
- JSON: https://secwatch.observer/filing/0001213900-24-002461.json
- Plain text: https://secwatch.observer/filing/0001213900-24-002461.txt

## Key facts
- Debt Financings
  OLENOX INDUSTRIES INC. incurred loan of purchase price of $200,000 with Maison Capital Group.
  - Instrument: loan
  - Principal: purchase price of $200,000
  - Counterparty: Maison Capital Group
  - Event: incurrence
  source text: On January 5, 2024, SG Building Blocks, Inc. (“SG Building Blocks”), a wholly owned subsidiary of Safe & Green Holdings Corp.(the “Company”), and the Company’s wholly owned subsidiary, SG Echo, LLC (“SG Echo”, and together with SG Building Blocks, the “Merchants”), entered into a Cash Advance Agreement (“Cash Advance Agreement”) with Maison Capital Group (“Maison”) pursuant to which the Merchants sold to Maison $300,000 of their future receivables for a purchase price of $200,000, less underwriting fees and expenses paid, for net funds provided of $190,000.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1023994/000121390024002461/0001213900-24-002461-index.htm
- Material Agreements
  OLENOX INDUSTRIES INC. entered into Cash Advance Agreement with Maison Capital Group valued at $300,000 (effective 2024-01-05).
  - Action: entry
  - Agreement: credit facility
  - Counterparty: Maison Capital Group
  - Value: $300,000
  - Effective: 2024-01-05
  source text: On January 5, 2024, SG Building Blocks, Inc. (“SG Building Blocks”), a wholly owned subsidiary of Safe & Green Holdings Corp.(the “Company”), and the Company’s wholly owned subsidiary, SG Echo, LLC (“SG Echo”, and together with SG Building Blocks, the “Merchants”), entered into a Cash Advance Agreement (“Cash Advance Agreement”) with Maison Capital Group (“Maison”) pursuant to which the Merchants sold to Maison $300,000 of their future receivables for a purchase price of $200,000, less underwriting fees and expenses paid, for net funds provided of $190,000.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1023994/000121390024002461/0001213900-24-002461-index.htm

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