---
schema_version: "secwatch.filing_event.v1"
accession: "0001663577-23-000449"
form_type: "8-K"
ticker: "QIND"
cik: "0001393781"
company_name: "Quality Industrial Corp."
filed_at: "2023-08-25T23:59:59+00:00"
generated_at: "2026-06-11T03:22:08.848559+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.55
calibrated_materiality_score: 0.55
confidence: "high"
source: SEC EDGAR
---

# Quality Industrial enters $2M share buy-back financing to fund acquisition of Quality International stake

## Summary
- Issues 6,410,971 common shares to Artelliq for $2M (AED 7.34M); immediately agrees to buy them back for $2,398,693 (AED 8.808M).
- Buy-back price includes daily installments of USD 1,111.11 (AED 4,080); monthly average USD 33,333.33 (AED 122,400).
- Proceeds used to fulfill payment obligations under Amended QI Purchase Agreement for 52% of Quality International.
- Guarantee & Indemnity Agreement signed by ILUS and other guarantors; Artelliq may demand immediate buy-back on default.
- Artelliq appoints an internal auditor with broad oversight over the acquired company's finances and operations.

## SEC filing metadata
- accession: 0001663577-23-000449
- form_type: 8-K
- ticker: QIND
- cik: 0001393781
- company_name: Quality Industrial Corp.
- filed_at: 2023-08-25T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.55
- calibrated_materiality_score: 0.55
- confidence: high
- sec_items: 1.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1393781/000166357723000449/0001663577-23-000449-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1393781/000166357723000449/qind8k082123.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001663577-23-000449
- JSON: https://secwatch.observer/filing/0001663577-23-000449.json
- Plain text: https://secwatch.observer/filing/0001663577-23-000449.txt

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