secwatch.observer — SEC 8-K summary
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Issuer:     OLENOX INDUSTRIES INC. (OLOX)
CIK:        0001023994
Form:       8-K
Filed at:   2024-02-29T23:59:59+00:00
Accession:  0001213900-24-018530
Event type: debt
Sentiment:  neutral
Materiality: 0.40
Item codes: 1.01, 2.03, 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1023994/000121390024018530/0001213900-24-018530-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1023994/000121390024018530/ea0200852-8k_safegreen.htm
  HTML page:      https://secwatch.observer/filing/0001213900-24-018530

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer