secwatch.observer — SEC 8-K summary
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Issuer:     Quality Industrial Corp. (QIND)
CIK:        0001393781
Form:       8-K
Filed at:   2023-08-04T23:59:59+00:00
Accession:  0001663577-23-000367
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.60
Item codes: 1.01, 1.02, 5.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Quality Industrial amends $137M acquisition payment terms; terminates Petro Line deal; changes fiscal year
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- Purchase price for 52% of Quality International remains up to $137M; payment schedule extended with break fees.
- Company guarantees Quality International's future borrowings up to $10M principal at max 22% interest, for operations.
- Petro Line acquisition (51% for $1.53M) terminated mutually; no financial impact.
- Fiscal year changed from Dec 31 to June 30 to support NYSE American uplisting; transition report due for Jan-Jun 2023.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1393781/000166357723000367/0001663577-23-000367-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1393781/000166357723000367/qind8k073123.htm
  HTML page:      https://secwatch.observer/filing/0001663577-23-000367

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