secwatch.observer — SEC 8-K summary
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Issuer:     OLENOX INDUSTRIES INC. (OLOX)
CIK:        0001023994
Form:       8-K
Filed at:   2024-01-31T23:59:59+00:00
Accession:  0001213900-24-008481
Event type: debt
Sentiment:  negative
Materiality: 0.55
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1023994/000121390024008481/0001213900-24-008481-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1023994/000121390024008481/ea192531-8k_safeandgreen.htm
  HTML page:      https://secwatch.observer/filing/0001213900-24-008481

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