secwatch.observer — SEC 8-K summary
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Issuer:     OLENOX INDUSTRIES INC. (OLOX)
CIK:        0001023994
Form:       8-K
Filed at:   2026-02-18T23:59:59+00:00
Accession:  0001213900-26-018046
Event type: other_material
Sentiment:  neutral
Materiality: 0.75
Item codes: 1.01, 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Olenox settles debt with CEO via 1.2M shares; appoints Paula Dobriansky to board
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- Settled $338,670 outstanding note with CEO Michael McLaren by issuing 626,325 common shares at $0.5407 (50% of VWAP).
- Issued 585,000 restricted common shares to CEO in exchange for surrender of 39,000 Series A preferred shares and release of merger claims.
- Appointed Ambassador Paula J. Dobriansky as director; receives standard $40k cash retainer + $50k annual RSU grant.
- Total share issuance of ~1.21M shares represents material dilution for existing shareholders.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1023994/000121390026018046/0001213900-26-018046-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1023994/000121390026018046/ea0277598-8k_olenox.htm
  HTML page:      https://secwatch.observer/filing/0001213900-26-018046

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