secwatch.observer — SEC 8-K summary
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Issuer:     Quality Industrial Corp. (QIND)
CIK:        0001393781
Form:       8-K
Filed at:   2022-08-09T23:59:59+00:00
Accession:  0001663577-22-000436
Event type: m_and_a
Sentiment:  positive
Materiality: 0.75
Item codes: 1.01, 2.03, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

QIND issues $1.1M convertible note for first tranche of UAE acquisition
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- Two-year convertible note with principal of $1,100,000, 7% interest, conversion at $1.00/share.
- First tranche of $1,000,000 paid to UAE manufacturing company under binding LOI dated June 30, 2022.
- LOI targets 51% of UAE company valued at $300 million; acquisition total $153M for controlling stake.
- Note sold to RB Capital Partners Inc.; QIND can prepay at any time; conversion allowed after 6 months.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1393781/000166357722000436/0001663577-22-000436-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1393781/000166357722000436/qind8k.htm
  HTML page:      https://secwatch.observer/filing/0001663577-22-000436

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