---
schema_version: "secwatch.filing_event.v1"
accession: "0001213900-24-008481"
form_type: "8-K"
ticker: "OLOX"
cik: "0001023994"
company_name: "OLENOX INDUSTRIES INC."
filed_at: "2024-01-31T23:59:59+00:00"
generated_at: "2026-06-06T12:40:28.519026+00:00"
event_type: "debt"
sentiment: "negative"
materiality_score: 0.55
calibrated_materiality_score: 0.55
confidence: "high"
source: SEC EDGAR
---

# Safe & Green subsidiary sells $1.73M future receivables for $1.18M; nets $215k after fees and repayment

## Summary
- SG Building Blocks sold $1,733,420 in future receivables to Cedar Advance for $1,180,000 purchase price.
- Net proceeds after underwriting fees and repayment of prior amounts: $215,575.
- Cedar will withdraw $49,150 weekly from SG Building Blocks' bank account until the full amount is paid.
- Obligations are guaranteed by wholly owned subsidiary SG Echo, LLC.
- Default triggers demand for full remaining amount plus $2,500 blocked account fee.

## SEC filing metadata
- accession: 0001213900-24-008481
- form_type: 8-K
- ticker: OLOX
- cik: 0001023994
- company_name: OLENOX INDUSTRIES INC.
- filed_at: 2024-01-31T23:59:59+00:00
- event_type: debt
- sentiment: negative
- materiality_score: 0.55
- calibrated_materiality_score: 0.55
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1023994/000121390024008481/0001213900-24-008481-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1023994/000121390024008481/ea192531-8k_safeandgreen.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001213900-24-008481
- JSON: https://secwatch.observer/filing/0001213900-24-008481.json
- Plain text: https://secwatch.observer/filing/0001213900-24-008481.txt

## Key facts
- Debt Financings
  OLENOX INDUSTRIES INC. incurred debt of $1,733,420 with Cedar Advance LLC.
  - Principal: $1,733,420
  - Counterparty: Cedar Advance LLC
  - Event: incurrence
  source text: 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 $1,733,420 of its future receivables for a purchase price of $1,180,000, less underwriting fees and expenses paid and the repayment of prior amounts due Cedar , for net funds provided of $
  evidence_url: https://www.sec.gov/Archives/edgar/data/1023994/000121390024008481/0001213900-24-008481-index.htm
- Material Agreements
  OLENOX INDUSTRIES INC. entered into Cash Advance Agreement with Cedar Advance LLC valued at $1,733,420 of its future receivables for a purchase price of $1,180,000 (effective 2024-01-29).
  - Action: entry
  - Counterparty: Cedar Advance LLC
  - Value: $1,733,420 of its future receivables for a purchase price of $1,180,000
  - Effective: 2024-01-29
  source text: On January 29, 2024, 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 $1,733,420 of its future receivables for a purchase price of $1,180,000
  evidence_url: https://www.sec.gov/Archives/edgar/data/1023994/000121390024008481/0001213900-24-008481-index.htm

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