secwatch.observer — SEC 8-K summary
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Issuer:     OLENOX INDUSTRIES INC. (OLOX)
CIK:        0001023994
Form:       8-K
Filed at:   2025-04-02T23:59:59+00:00
Accession:  0001213900-25-027595
Event type: debt
Sentiment:  negative
Materiality: 0.55
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Safe & Green Holdings issues $375,700 promissory note with 15% interest to Generating Alpha Ltd.
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- Principal $375,700 with $75,140 original issue discount; net proceeds $300,560.
- Interest at 15% p.a.; first 12 months interest ($56,355) earned upfront; default rate 18%.
- Monthly amortization payments of $43,205.50 from June 6, 2025 to March 6, 2026.
- Note convertible at 80% of lowest closing price in prior 10 days; on default, Alternate Price limited to $0.52.
- Subject to Nasdaq 19.99% cap; if exceeded, company seeks shareholder approval or repays in cash.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1023994/000121390025027595/0001213900-25-027595-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1023994/000121390025027595/ea0236831-8k_safe.htm
  HTML page:      https://secwatch.observer/filing/0001213900-25-027595

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