secwatch.observer — SEC 8-K summary
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Issuer:     Quality Industrial Corp. (QIND)
CIK:        0001393781
Form:       8-K
Filed at:   2022-07-08T23:59:59+00:00
Accession:  0001663577-22-000394
Event type: m_and_a
Sentiment:  positive
Materiality: 0.90
Item codes: 1.01, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Wikisoft signs binding LOI to acquire 51% of Quality International for $300M valuation
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- Total valuation $300M; 51% purchase for $100M cash (over 1 yr) and $50M in convertible preferred shares.
- Quality International has $75M in production orders, $230M confirmed orders; 2022 revenue forecast >$100M.
- Company operates 10M sq ft facilities in UAE with 1,350 employees; serves Oil & Gas, Energy, Water sectors.
- Wikisoft's majority owner ILUS will integrate Quality's capabilities with FireBug and other ILUS businesses.
- Expected close within 30 business days after due diligence; definitive Stock Purchase Agreement to follow.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1393781/000166357722000394/0001663577-22-000394-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1393781/000166357722000394/wsft8k.htm
  HTML page:      https://secwatch.observer/filing/0001663577-22-000394

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