---
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"
generated_at: "2026-06-20T05:12:21.730285+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# QIND to acquire 51% of Petro Line FZ-LLC for up to $1.53M in cash, contingent on milestones

## Summary
- 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.

## SEC filing metadata
- 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
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 1.01, 9.01
- 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

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001663577-23-000048
- JSON: https://secwatch.observer/filing/0001663577-23-000048.json
- Plain text: https://secwatch.observer/filing/0001663577-23-000048.txt

## Key facts
- Material Agreements
  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).
  - Action: entry
  - Agreement: equity purchase
  - Counterparty: the shareholders of Petro Line FZ-LLC
  - Value: up to $1,530,000 in cash
  - Effective: 2023-01-27
  source text: 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_url: https://www.sec.gov/Archives/edgar/data/1393781/000166357723000048/0001663577-23-000048-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.