{"schema_version":"secwatch.filing_event.v1","accession":"0001663577-23-000048","form_type":"8-K","ticker":"QIND","cik":"0001393781","company_name":"Quality Industrial Corp.","filed_at":"2023-01-31T23:59:59+00:00","discovered_at":"2026-05-14T18:03:44.735230+00:00","generated_at":"2026-06-20T05:12:21.730285+00:00","sec_items":["1.01","9.01"],"event_type":"m_and_a","sentiment":"positive","materiality_score":0.7,"calibrated_materiality_score":0.7,"confidence":"high","headline":"QIND to acquire 51% of Petro Line FZ-LLC for up to $1.53M in cash, contingent on milestones","bullets":["Purchase price up to $1.53M in cash, paid in three tranches; first $500K due within 14 days of signing.","Remaining $1.03M payable over 12 months, conditional on Petro Line meeting minimum 2023 Revenue and EBITDA targets.","QIND will occupy three of five board seats; existing Petro Line board members hold the other two.","Petro Line reported 2022 sales of $3.565M and EBITDA of $1.533M; forecast 2023 sales $3.743M, EBITDA $1.610M.","Closing requires audited financials for past two years from a PCAOB-qualified auditor within 60 days."],"urls":{"canonical":"https://secwatch.observer/filing/0001663577-23-000048","json":"https://secwatch.observer/filing/0001663577-23-000048.json","markdown":"https://secwatch.observer/filing/0001663577-23-000048.md","text":"https://secwatch.observer/filing/0001663577-23-000048.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1393781/000166357723000048/0001663577-23-000048-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1393781/000166357723000048/qind8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-20T05:12:21.730285+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"b7026041e87929dc6d8813ddf4b8f1ebbd988e93","claim":"Quality Industrial Corp. entered into Purchase Agreement with the shareholders of Petro Line FZ-LLC valued at up to $1,530,000 in cash (effective 2023-01-27).","evidence_excerpt":"On January 27, 2023, we entered into a definitive Stock Purchase Agreement (the “Purchase Agreement”) with the shareholders of Petro Line FZ-LLC (“Petro Line”), a United Arab Emirates headquartered company to purchase 51% of the outstanding shares (the “Shares”).","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1393781/000166357723000048/0001663577-23-000048-index.htm","confidence":0.9,"family_label":"Material Agreements","details":[{"label":"Action","value":"entry"},{"label":"Agreement","value":"equity purchase"},{"label":"Counterparty","value":"the shareholders of Petro Line FZ-LLC"},{"label":"Value","value":"up to $1,530,000 in cash"},{"label":"Effective","value":"2023-01-27"}],"fact_type":"material_agreement"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}