---
schema_version: "secwatch.filing_event.v1"
accession: "0001213900-24-018530"
form_type: "8-K"
ticker: "OLOX"
cik: "0001023994"
company_name: "OLENOX INDUSTRIES INC."
filed_at: "2024-02-29T23:59:59+00:00"
generated_at: "2026-06-05T06:03:30.842310+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.4
calibrated_materiality_score: 0.4
confidence: "high"
source: SEC EDGAR
---

# Subsidiaries sell $224.9K future receivables for $150K; CFO salary raised to $350K

## Summary
- Entered cash advance with Bridgecap: $224,850 future receivables sold for $150K purchase price; net proceeds $135K after fees.
- Bridgecap to withdraw $2,248.50 daily from merchants' bank account; secured by all accounts and receivables.
- CFO Patricia Kaelin salary raised to $350K; also receives $100K bonus and 300,000 RSUs (50% immediate vest).
- CEO Paul Galvin awarded $350K bonus for 2023 service; voluntarily deferred Feb. 15 salary as cost-saving measure.

## SEC filing metadata
- accession: 0001213900-24-018530
- form_type: 8-K
- ticker: OLOX
- cik: 0001023994
- company_name: OLENOX INDUSTRIES INC.
- filed_at: 2024-02-29T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.4
- calibrated_materiality_score: 0.4
- confidence: high
- sec_items: 1.01, 2.03, 5.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1023994/000121390024018530/0001213900-24-018530-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1023994/000121390024018530/ea0200852-8k_safegreen.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001213900-24-018530
- JSON: https://secwatch.observer/filing/0001213900-24-018530.json
- Plain text: https://secwatch.observer/filing/0001213900-24-018530.txt

## Key facts
- Material Agreements
  OLENOX INDUSTRIES INC. entered into Cash Advance Agreement with Bridgecap Advance LLC valued at $224,850 of their future receivables for a purchase price of $150,000 (effective 2024-02-23).
  - Action: entry
  - Counterparty: Bridgecap Advance LLC
  - Value: $224,850 of their future receivables for a purchase price of $150,000
  - Effective: 2024-02-23
  source text: On February 23, 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 Bridgecap Advance LLC (“Bridgecap”) pursuant to which the Merchants sold to Bridgecap $224,850 of their future receivables for a purchase price of $150,000, less underwriting fees and expenses paid, for net funds provided of $135,000.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1023994/000121390024018530/0001213900-24-018530-index.htm

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