secwatch.observer — SEC 8-K summary
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Issuer:     OLENOX INDUSTRIES INC. (OLOX)
CIK:        0001023994
Form:       8-K
Filed at:   2024-01-10T23:59:59+00:00
Accession:  0001213900-24-002461
Event type: debt
Sentiment:  negative
Materiality: 0.50
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1023994/000121390024002461/0001213900-24-002461-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1023994/000121390024002461/ea191424-8k_safeandgreen.htm
  HTML page:      https://secwatch.observer/filing/0001213900-24-002461

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