---
schema_version: "secwatch.filing_event.v1"
accession: "0001213900-25-007674"
form_type: "8-K"
ticker: "OLOX"
cik: "0001023994"
company_name: "OLENOX INDUSTRIES INC."
filed_at: "2025-01-29T23:59:59+00:00"
generated_at: "2026-05-27T06:21:27.831264+00:00"
event_type: "debt"
sentiment: "negative"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Safe & Green obtains $188K via convertible note and cash advance; conversion price drops to $0.10 after 180 days

## Summary
- Issued $143,750 promissory note at 15% interest; net proceeds $125,000 after $18,750 original issue discount.
- Subsidiary SG Building Blocks sold $104,930 future receivables for net $63,000; daily withdrawal of $2,998.
- Note convertible at $1.30/share for first 180 days, then $0.10/share; 200% default penalty on unpaid amounts.
- Event of default includes Nasdaq delisting; conversion limitation (19.9%) waived upon delisting.
- Monthly payments of $18,368 start Feb 28, 2025; default interest rate 22% per annum.

## SEC filing metadata
- accession: 0001213900-25-007674
- form_type: 8-K
- ticker: OLOX
- cik: 0001023994
- company_name: OLENOX INDUSTRIES INC.
- filed_at: 2025-01-29T23:59:59+00:00
- event_type: debt
- sentiment: negative
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1023994/000121390025007674/0001213900-25-007674-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1023994/000121390025007674/ea0229068-8k_safe.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001213900-25-007674
- JSON: https://secwatch.observer/filing/0001213900-25-007674.json
- Plain text: https://secwatch.observer/filing/0001213900-25-007674.txt

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