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Quality Industrial Corp (QIND) RSS Feed

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QIND -Quality Industrial Corp. a Wholly Owned Subsidiary of ILUS International 
 
 

Company Website: https://qualityindustrialcorp.com/

CONTACT

Quality Industrial Corp.
315 Montgomery Street, San Francisco
CA 94104, USA
Phone: +1-800-706-0806
Email: info@qualityindustrialcorp.com
Investor site: https://qualityindustrialcorp.com
Twitter: @ QualityIndCorp @ILUS_INTL

SOURCE: Quality Industrial Corp.

 
BUSINESS DESCRIPTION
Quality Industrial Corp. is an Industrial Manufacturer of heavy engineering equipment for the Oil & Gas and Utility Sectors. We aim to be a global leader in the manufacture and assembly of industrial equipment and precision engineered technology.
 
Company Updates:

 $QIND NEWS: Fusion Fuel (Nasdaq: HTOO) Announces Completion of QIND Acquisition and Executive Leadership Changes
November 26, 2024 17:45 ET
| Source: Fusion Fuel Green Public Limited Company
Quality Industrial Corp. (OTC Pink: QIND)

DUBLIN, Nov. 26, 2024 (GLOBE NEWSWIRE) -- Fusion Fuel Green PLC (NASDAQ: HTOO) (“Fusion Fuel” or the “Company”), a leader in full-service green hydrogen solutions, today announced the successful closing of its previously disclosed transaction to acquire a controlling stake in Quality Industrial Corp. (OTC Pink: QIND) (“QIND”) through a share exchange. The completion of this strategic acquisition strengthens Fusion Fuel’s position in the energy engineering, supply, and services business, creating a robust platform to capitalize on growing demand in the renewable energy and industrial gas sectors.

As part of the transaction, Fusion Fuel has made several key leadership changes to align with its strategic vision. Effective immediately, John-Paul Backwell has been appointed Chief Executive Officer and will join the Company’s Board of Directors. Mr. Backwell will continue in his current role as Chief Executive Officer of QIND. Additionally, Frederico Figueira de Chaves, formerly the Company’s Chief Executive Officer, will transition to the role of Chief Strategy Officer and Head of Hydrogen Solutions. Gavin Jones continues as the Company’s Chief Financial Officer.

Remarking upon the changes, Jeffrey Schwarz, Chairman of the Board of Fusion Fuel said, “We are thrilled to welcome Mr. Backwell to our executive leadership team, further strengthening the depth and breadth of our management capabilities. His extensive multidisciplinary experience in business management, with particular emphasis on the scaling of companies, international market development, and mergers and acquisitions—will be instrumental in driving Fusion Fuel’s growth and delivering long-term value to its stakeholders. Over the course of his more than two-decade career, Mr. Backwell has demonstrated exceptional leadership, holding key roles as Chief Executive, Managing Director, and both Executive and Non-Executive Director.” Mr. Schwarz continued, “In his new role as Chief Strategy Officer and Head of Hydrogen Solutions, Mr. Figueira de Chaves will focus on operational excellence and driving innovation in Fusion Fuel’s core hydrogen engineering capabilities.”

John-Paul Backwell added: “I am honored to lead Fusion Fuel at this pivotal moment. This transaction marks a significant milestone in the evolution of Fusion Fuel’s business, providing the scale, synergies, and expertise needed to drive growth and deliver exceptional value to our stakeholders. Together with Frederico and the rest of the team, I am excited to build a world-class platform for engineering and advisory services across the energy and industrial sectors, helping to shape the future of energy and sustainability.”

The Company plans to hold an investor presentation to provide an overview of the strategic rationale behind this transaction, the vision for the combined company, and its plans for sustained growth in the hydrogen and industrial gases markets. The date and time of the presentation will be announced over the coming days, with access details to follow on the Company’s website.

Nasdaq Compliance Update

The Company has also announced that the hearing to appeal the delisting of its securities from Nasdaq has been scheduled for January 7, 2025. Management is confident that following the close of this transaction and the consolidation of financials, Fusion Fuel will meet the stockholder equity requirements for continued listing.

About Fusion Fuel Green plc

Fusion Fuel Green plc (NASDAQ: HTOO) is a leading provider of full-service energy engineering and advisory solutions, specializing in green hydrogen and broader industrial gas applications. Through its majority-owned subsidiary, Quality Industrial Corp., Fusion Fuel now offers an expanded portfolio of services, including the design, supply, installation, and maintenance of energy systems, as well as the transport and distribution of liquefied petroleum gas. The Company serves a diverse customer base spanning commercial buildings, mixed-use developments, heavy industries, and food service sectors, while continuing to drive innovation in the renewable energy space. Fusion Fuel is committed to advancing the global energy transition by delivering sustainable, efficient, and reliable energy solutions. Learn more about Fusion Fuel by visiting our website at https://www.fusion-fuel.eu and following us on LinkedIn.

A description of the Stock Purchase Agreement, dated November 19, 2024 (the “Purchase Agreement”), among the Company, QIND, and certain shareholders of QIND (the “Sellers”) is contained in a report on Form 6-K that was furnished by the Company to the Securities and Exchange Commission (the “SEC”) on November 20, 2024, and a copy of which was included as an exhibit to such Form 6-K. The description above is qualified in its entirety by reference to the full text of such exhibit.

The Purchase Agreement sets forth material terms and conditions for the transaction that, upon consummation, resulted in Fusion Fuel’s acquisition of approximately 70% of the issued and outstanding share capital of QIND. Certain post-closing requirements are applicable, including stockholder approval of related matters and Nasdaq clearance of a new initial listing application, and failure to satisfy such requirements within a certain period may result in the unwinding of the acquisition by the Company of the shares of QIND. A further description of these requirements is contained in a report on Form 6-K that is being furnished by the Company to the SEC on or around the date hereof. There can be no assurance that post-closing requirements for the acquisition will be met.
 

 


 

 

Quality Industrial Corp. Files Amended S-1 Registration Statement in a Firm Commitment Public Offering and Concurrent NYSE American Listing

SAN FRANCISCO, CA / ACCESSWIRE / December 7, 2023 / Quality Industrial Corp. (OTC PINK:QIND), is a Manufacturer of equipment and infrastructure for the Industrial and Energy sectors. Today the company filed an amended S-1 Registration Statement for the sale of its common stock in a firm commitment public offering and concurrent NYSE American listing. The amended offering shall be for the amount of gross proceeds of up to $3.5 million.

As described in the S-1/A, QIND is in the process of revising the terms of its ongoing payment tranche obligations for the acquisition of Quality International. While the revised payment terms are being agreed, the company has filed its amended S-1 for the purpose of disclosure and progress towards the clearance of SEC comments. Clearance of comments and the corresponding date of S-1 effectiveness affects the terms to be agreed in the revised payment arrangements.

QIND's original S-1 filing contained an offering for an amount of gross proceeds of up to $7 million which has since been reduced to $3.5 million, therefore reducing dilution. Further the company will amend the S-1 to include its engaged Investment Bank once the structure and timeframe of the revised payment arrangements with Quality International are finalized.

The S-1/A now includes the independent valuation report of Quality International by Kreston Menon, a division of Kreston Global, which was obtained by QIND. The amended S-1 also includes the audit reports of Quality International by Ernst & Young and Deloitte for 2020 and 2021 respectively. These aforementioned reports have been filed as exhibits to the S-1/A.

This Press Release does not constitute an offer of any securities for sale.

FORWARD-LOOKING STATEMENTS

This press release contains statements of a forward-looking nature about the Company. You can identify these forward-looking statements by words or phrases such as "may," "will," "expect," "anticipate," "aim," "estimate," "intend," "plan," "believe," "is/are likely to," "future" or other similar expressions. The Company has based these forward-looking statements primarily on the Company's current expectations and projections about future events and financial trends that the Company believes may affect Company's financial condition, results of operations, business strategy, and financial needs. There is no assurance that the Company's current expectations and projections are accurate. All forward-looking statements in this press release are based on the Company's information on the date hereof. These statements involve known and unknown risks, uncertainties, and other factors that may cause the Company's actual results to differ materially from those implied by the forward-looking statements. The Company operates in a rapidly evolving environment. New risk factors emerge from time to time. The Company does not undertake any obligation to update or revise the forward-looking statements except as required under applicable law. This press release does not constitute or form part of any offer or invitation to purchase, otherwise acquire, issue, subscribe for, sell, or otherwise dispose of any securities, nor any solicitation of any offer to purchase, otherwise acquire, issue, subscribe for, sell, or otherwise dispose of any securities of the Company. The release, publication, or distribution of this announcement in certain jurisdictions may be restricted by law and therefore persons in such jurisdictions into which this announcement is released, published, or distributed should inform themselves about and observe such restrictions.

CONTACT

Quality Industrial Corp.
315 Montgomery Street, San Francisco
CA 94104, USA
Phone: +1-800-706-0806
Email: info@qualityindustrialcorp.com
Investor site: https://qualityindustrialcorp.com
Twitter: @QualityIndCorp @ILUS_INTL

SOURCE: Quality Industrial Corp.


More News:

QIND Files Its Third Quarter of 2023 Results, Displaying Continued Quarter-on-Quarter Revenue Growth

SAN FRANCISCO, CA / ACCESSWIRE / November 21, 2023 / Quality Industrial Corp. (OTC PINK:QIND), yesterday filed its financial results for the third quarter ended September 30, 2023, on SEC Form 10-Q, in accordance with applicable accounting standards.

QIND reported revenue of $22.1M and net profit of $1.9M for the three months ended September 30, 2023, compared to $19,8M in revenue and net profit of $2.4M for the same period in 2022. The net profit decrease was due to shares issued to management totaling $1.5M during the quarter. However, the underlying performance of the operating business increased its net profit compared to the same period in 2022, with $3.4M achieved before adjusting for share issuances. QIND remains optimistic about its fourth quarter growth over the same period last year.

QIND has continued to lay the foundations for future growth, including but not limited to its planned uplist to the NYSE American. The Company's S-1 Registration Statement will be amended with the third quarter financial statements and subsequently filed with the Securities and Exchange Commission.

 

Quality Industrial Corp. announces filing of S-1 Registration Statement

SAN FRANCISCO, CA / ACCESSWIRE / September 20, 2023 / Quality Industrial Corp. (OTC PINK:QIND), is a Manufacturer of equipment and infrastructure for the Industrial, Energy, and Utility Sectors. On March 19, 2023, QIND filed an S-1 Registration Statement for the sale of its common stock in a firm commitment public offering and concurrent NYSE American listing. The offering shall be for an amount of gross proceeds of up to $7 million.

Upon effectiveness of the offering, QIND intends to uplist to the NYSE American. If required in order to meet the bid price requirement for the listing, the company will affect an authorized reverse stock split simultaneous to its listing on the NYSE American.

"We firmly believe that an uplist to the NYSE American is in the best interest of our company and Shareholders. We are confident that it is our optimal path for realizing the value we see in the company and for its expansion from a largely Middle Eastern operation with several global multinational customers towards a global operation servicing the wider Energy sector. It is exciting that we have now taken a very significant step closer towards this objective." Said QIND CEO, John-Paul Backwell.

 

QIND Press Releases

 
PUBLISHED
JUL 21, 2023

ILUS Plans Emergency Response and Industrial Subsidiary Spin Outs and Stock Dividend for Shareholders

PUBLISHED
APR 19, 2023

Quality Industrial Corp. Engages Exchange Listing LLC as Capital Market Advisor for NYSE American Listing

PUBLISHED
SEP 30, 2022

Quality Industrial Corp. Confirms Completion of External Evaluation and Consolidation of Financials for First Acquisition

 

QIND SEC Filings

View the latest: 10-K and 10-Q

Link: https://www.nasdaq.com/market-activity/stocks/qind/sec-filings


QIND Security Details




QIND Simple Moving Average DAILY CHART 


DISCLAIMER:


Nothing in the contents transmitted on this board should be construed as an investment advisory, nor should it be used to make investment decisions.
There is no express or implied solicitation to buy or sell securities.
The author(s) may have positions in the stocks or financial relationships with the company or companies discussed and may trade in the stocks mentioned.
Readers are advised to conduct their own due diligence prior to considering buying or selling any stock. All information should be considered for information purposes only.
No stock exchange has approved or disapproved of the information here.  
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