---
schema_version: "secwatch.filing_event.v1"
accession: "0001213900-24-029067"
form_type: "8-K"
ticker: "QIND"
cik: "0001393781"
company_name: "Quality Industrial Corp."
filed_at: "2024-04-02T23:59:59+00:00"
generated_at: "2026-06-04T03:25:41.188083+00:00"
event_type: "m_and_a"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# QIND acquires 51% of Al Shola Gas for $10M; payment tied to national exchange uplist

## Summary
- Purchase price of $10M: $9M in stock or cash in 8 quarterly tranches after uplist, plus $1M cash within 12 months.
- QIND gets 2 of 3 board seats effective immediately; existing management retains operational control unless board acts.
- Option to buy remaining 49% of ASG at prorated price for 2 years after closing.
- QIND to facilitate $350k in LPG vehicles within 90 days and $2M equity line or credit within 90 days of uplist.
- ASG is a 44-year-old UAE LPG engineering and distribution firm with civil defense approvals.

## SEC filing metadata
- accession: 0001213900-24-029067
- form_type: 8-K
- ticker: QIND
- cik: 0001393781
- company_name: Quality Industrial Corp.
- filed_at: 2024-04-02T23:59:59+00:00
- event_type: m_and_a
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 1.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1393781/000121390024029067/0001213900-24-029067-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1393781/000121390024029067/ea0202678-8k_quality.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001213900-24-029067
- JSON: https://secwatch.observer/filing/0001213900-24-029067.json
- Plain text: https://secwatch.observer/filing/0001213900-24-029067.txt

## Key facts
- Material Agreements
  Quality Industrial Corp. entered into Stock Purchase Agreement with shareholders of Al Shola Al Modea Gas Distribution LLC valued at $10,000,000 (Ten Million USD) (effective 2024-03-27).
  - Action: entry
  - Agreement: asset purchase
  - Counterparty: shareholders of Al Shola Al Modea Gas Distribution LLC
  - Value: $10,000,000 (Ten Million USD)
  - Effective: 2024-03-27
  source text: As of March 27, 2024, we entered into a definitive Stock Purchase Agreement (the “Purchase Agreement”) with the shareholders of Al Shola Al Modea Gas Distribution LLC (“ASG” or “Al Shola Gas”) to acquire a 51% interest in ASG.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1393781/000121390024029067/0001213900-24-029067-index.htm

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