secwatch.observer — SEC 8-K summary
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Issuer:     Quality Industrial Corp. (QIND)
CIK:        0001393781
Form:       8-K
Filed at:   2024-04-02T23:59:59+00:00
Accession:  0001213900-24-029067
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.60
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1393781/000121390024029067/0001213900-24-029067-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1393781/000121390024029067/ea0202678-8k_quality.htm
  HTML page:      https://secwatch.observer/filing/0001213900-24-029067

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