Quality Industrial acquires 51% of Al Shola Gas for $10M; pro forma revenue $10.8M, net loss $2.37M

Quality Industrial Corp.

Purchase price $10M: $9M in stock/cash over 24 months post-uplist, $1M cash in 12 months.
Pro forma combined total assets $34.8M, revenue $10.8M, net loss $2.37M for FY2023.
Goodwill of $7.75M recorded; 51% net assets acquired of $2.25M (Dec 31, 2023).
QIND obtains two board seats and immediate control; operating control remains with existing management unless breach.

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