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HOW BIG WILL REVERSE SPLIT BE ?????
NEWS: Quality Industrial Corp. announces filing of S-1 Registration Statement
Quality Industrial Corp.
Wed, September 20, 2023 at 5:20 AM EDT
In this article: QIND
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 September 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.
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.
ACCESSWIRE | Article Logo
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.
View source version on accesswire.com:
https://www.accesswire.com/785841/quality-industrial-corp-announces-filing-of-s-1-registration-statement
Now the S-1 has been filed and we will get an update this upcoming week. This is huge for the company.
$QIND Form S-1 filed under DRS Form Type. Our Business & S-1 Registration Statement have passed through extensive fact checking & due diligence & we are pleased to confirm our S-1 filing. $ILUS @BackwellJp @NicolasLink pic.twitter.com/f0bjUvxg4C
— Quality Industrial Corp. (@QualityIndCorp) September 15, 2023
$QIND Update next week talking through our S-1 process from Draft Registration Statement (DRS) through to closing. $ILUS
— Quality Industrial Corp. (@QualityIndCorp) September 15, 2023
Thank you, great news!
Yes, as of Friday afternoon the S1 has been finished. Not yet posted, though. This is huge. This is the beginning of the beginning. things should turn around, IMO.
@BackwellJp , Carsten & the entire team. Thank-you for the mammoth effort!! Completing the relentless S1 for uplist. JP and Carsten clocked almost 120 hours each a week for the last month, getting it done! $ILUS $QIND Thanks to the entire team.
— Nicolas Link (Nick) (@NicolasLink) September 15, 2023
Up 8plus % today....beginning to move in advance of market jump.
$ILUS <> $QIND is set to do $150M in revenue in calendar year 2023 and its MC is $32M.
When it up lists to the NYSE American the value will be adjusted upward.
BFC LIVE Update Video covers $QIND $ILUS
NEWS: Short $QIND UPDATE Video from @BackwellJp
Just dropped. $ILUS @ERT_ILUS
NEWS: Short $QIND UPDATE Video from @BackwellJp just dropped. $ILUS @ERT_ILUS https://t.co/clYKdxvtW2
— Rickers (@PiRickers) September 6, 2023
COURTESY OF$QIND
Quality Industrial Corp.
@QualityIndCorp
$QIND Brief Update Vodcast by
@BackwellJp
can be found here:
$QIND Brief Update Vodcast by @BackwellJp can be found here: https://t.co/Rq45iy1OmI\ $ILUS #ERT https://t.co/6zcomtkFhH
— Quality Industrial Corp. (@QualityIndCorp) September 6, 2023
Drop that S1!! Let's go Team Qind!!
We should be getting some good news on $QIND this week. Vodcast and then likely S-1 filing.
$QIND S-1 status update: New fiscal years audited. Our counsel & Investment Bank’s counsel are completing their final “box ticking” for a firm commitment offering. Once complete, S-1 will be filed. Vodcast update early next week. $ILUS @NicolasLink @BackwellJp
— Quality Industrial Corp. (@QualityIndCorp) September 1, 2023
$QIND Volume about to pick up as soon as S1 Filed.
The (apparent) price of this stock is being confrolled by one or more traders selling/buying small quantities at below
offers from legitimate buyers. I know this because my bid for any quantity is ABOVE the trading price. An obvious attempt to spur some panic selling. The real traders are holding their .255 offer. Nothing less.
This is part of $ILUS merger , buyback $QIND <> On August 21. 2023, QIND entered into a shares subscription and buy-back
agreement (the “Subscription Buy-Back Agreement”) with Ilustrato Pictures International Inc. (“ILUS”),
the parent company of Quality Industrial Corp.
https://contracts.justia.com/companies/ilustrato-pictures-international-inc-15836/contract/1250800/
https://ih.advfn.com/stock-market/USOTC/ilustrato-pictures-pk-ILUS/stock-news/91901911/form-8-k-current-report
As previously disclosed, on January 18, 2023, Quality Industrial Corp. (“QIND”), a subsidiary to Ilustrato Pictures International Inc. (“ILUS”),
entered into a definitive stock purchase agreement (the “QI Purchase Agreement”) with Gerab National Enterprises LLC and Mr. Saseendran Kodapully Ramakrishnan, (together, the “QI Shareholders”) of Quality International Co Ltd FZC,
a United Arab Emirates company (“Quality International”), in order to purchase 52% of the shares of Quality International (the “QI Shares”) from the QI Shareholders. Quality International
manufactures custom solutions for businesses operating in the oil and gas, energy, water desalination, wastewater, offshore and public safety sectors.
Thereafter, on July 31, 2023, the parties to the QI Purchase Agreement entered into an amendment to the QI Purchase Agreement (the “Amended QI Purchase
Agreement”) in order to revise the payment schedule for the QI Shares, which had previously become effective on March 31, 2023.
On August 21. 2023, QIND entered into a shares subscription and buy-back agreement (the “Subscription Buy-Back Agreement”) with Ilustrato Pictures International Inc. (“ILUS”), the parent company of Quality Industrial Corp., Quality International, Mr. Saseendran Kodapully Ramakrishnan, (each a “Guarantor” and collectively, the “Guarantors”) and Artelliq Software Trading (“Artelliq”), pursuant to which QIND agreed to issue 6,410,971 common shares (the “Subscription Shares”) to Artelliq in exchange for USD 2,000,000, or AED 7,340,000 at an agreed upon exchange rate of 1 USD to 3.672 AED.
In accordance with the Amended QI Purchase Agreement and the payment schedule therein, on the same date as the issuance and subscription, QIND shall immediately buy back all Subscription Shares from Artelliq for the amount of USD 2,398,693 or AED 8,808,000, payable prior to the first anniversary of the Subscription Buy-Back Agreement, provided however, that Artelliq may in its sole discretion demand that QIND buy-back the Subscription Shares immediately upon the occurrence of any of the events of default described in section 4.1 of the Subscription Buy-Back Agreement. Furthermore, QIND has committed to pay Artelliq monthly installments of USD 33,333.33 or AED 122,400.00, and/or daily installments of USD 1,111.11 or AED 4,080.00 throughout the duration of the Subscription Buy-Back Agreement. These installments shall accumulate daily and be payable monthly, in arrears, on the last working day of each month.
The proceeds from the Subscription Shares are to enable QIND to discharge a part of its obligations under Section 2.1 of the Amended QI Purchase Agreement. Furthermore, the issuance and subscription of the Subscription Shares rely on the warranties provided by Company and the Guarantors as detailed in the Subscription Buy-Back Agreement and corresponding guarantee and indemnity agreement, dated August 21, 2023 (the “Guarantee & Indemnity Agreement”).
The foregoing description of the Subscription Buy-Back Agreement and Guarantee & Indemnity Agreement is a summary and is qualified in its entirety by reference to the provisions thereof, a copy of which is attached to this Current Report as Exhibit 10.1 and 10.2 respectively, which are incorporated herein by reference.
Artelliq
Address: PO Box 24120, Dubai, UAE Attention to: Abdullah Sharafi
E-mail: xxxxxx@xxxxx.com
QIND (QUALITY INDUSTRIAL CORP.)
Address: 315 Montgomery Street, San Francisco, 94104 California, USA Attention to: John-Paul Backwell
E-mail: xxxxxxx@xxxxxxxx.com
Guarantor (ILUSTRATO PICTURES INTERNATIONAL INC.)
Address: 26 Broadway, New York, 10004 New York, USA Attention to: Nicolas Link
E-mail: xxxxxxxxx@xxxxxx.com
https://contracts.justia.com/companies/ilustrato-pictures-international-inc-15836/contract/1250800/
Quality Industrial Corp. is a public Company focused on the Industrial, Oil & Gas and Utility Sectors
Quality Industrial Corp. (OTC: QIND), is a Subsidiary of the public M&A company, ILUS International.
QIND
Quality Industrial Corporation (PK)
0.24
0.007 (3.00%)
Volume: 35,829
Day Range: 0.24 - 0.25
Last Trade Time: 1:14:46 PM EDT
$QIND WHAT'S ALL ABOUT I SEE ACQUISTION / MERGER COMPANY
Don’t get too excited - Blackwell and Link have a lot to
Prove
Qind, Ilus, DRCR
ILUS fins just dropped....look very good also.
Monday (today) was a good day for $QIND. There was definitely a fairly decent sized buyer. Then the form 10KT was filed. Now they edit the S1 and file it. Then also the NYSE American application. This is really happening...
Expect a quick drop on Monday but just the $volume in sales (if true) tells me to keep loading.
Can't argue with sales volume. ILUS should follow.
$103 purchase makes EOD SP look very nice. Why would someone be so obvious?
$QIND GREAT NEWS! QualityIndustrial Corp. Update OUT
@QualityIndCorp
On 8/4/2023 #8-K filed and Company Announced Vodcast out later today with CFO
@BackwellJp Vodcast being released prior to S-1 Filing! $ILUS #Subsidiary ILUS CEO
@NicolasLink
$QIND 8-K filed. Vodcast out later today with @BackwellJp. https://t.co/ZEgs1byRIW$ILUS @NicolasLink
— Quality Industrial Corp. (@QualityIndCorp) August 4, 2023
Very undervalued
Current $QIND MC is $30M. QIND is scheduled to have 2023 revs of $150M this year. At P/S of 1, it is 5X undervalued. A P/S of 3 would be reasonable. That is 15X undervalued. 2022 annualized revs were 87M. Easily 3X undervalued based on that. Uplist should correct misvaluing. pic.twitter.com/5TofjbzQiS
— FredZ (@AgInAustin1) August 1, 2023
JP video "vodcast" followed by S-1 filing. Both this week. The process is beginning. This could uplist late this month.
Our $QIND S-1 has been sent off for iXBRL & EDGARization. We intend to file the S-1 later this week, subject to Counsel’s final approval. Vodcast will be released prior to filing.
— Quality Industrial Corp. (@QualityIndCorp) July 31, 2023
I agree, buying more mid next week....
I think we are only days away from the "Vodcast", then the S1 filing and roadshow. JP and company are getting all the paperwork in order. This is huge and yet the stock and this board sleeps. I think we can get to $1 organically as the uplist draws near.
I am clearly correct as I quoted from a "record". Also, how can ILUS consolidate QIND's revenues unless they have a majority interest? The ILUS PR states that "ILUS owns 67.8% of QIND".
https://www.otcmarkets.com/stock/ILUS/news/story?e&id=2583982
I hope you are right, but the records say different.
This is from the QIND 10K. It clearly states that most of Nick's portion of QIND is really ILUS's portion.
"(3) Includes 77,669,078 shares held in Ilustrato Pictures International Inc. in which Mr. Link has voting and dispositive control."
I received my Schedule 14C today describing the details of the reverse split and the subsequent uplisting, apparently before the end of the month.
I saw NO MENTION of ILUS as having ANY interest in Qind. The directors of the company have a combined 78% of the OS.
This board is dead. Fortunately QIND is not. The stock jumped 74% on Friday with an uplist to NYSE American exchange, likely in August, but perhaps sooner. Excitement for that could build and continue to carry the stock higher. Certainly, the fundamentals for QIND can support a much higher price.
The insider's shares are restricted and any shares associated with the uplist and offering are also restricted. So, your information doesn't make sense.
JP and Nick are doing the hard and right things to build QIND. By any fundamental measure it is undervalued.
$Qind .2251 Uplisting to Nyse $2 min. via organic pps or r.s 30 to 60 days after S1 filing . 114.5 mil A/S Look at what insiders own->89.6 mil $270 mil valuation +Oil &Gas
Revs $165 mil plus this year
Qualityinternational.ae $Ilus
Warning! This Scam is using so-called "Uplist" to pump and dump. The only purpose is that the insiders dumping all their worthless shares to the idiots.
Be very careful!!!!!!!!!!!!!!!
Your guess is as lame as everyone else's. Lots of manipulation and corruption with penny stocks.
$ILUS NEW YORK, NY -- June 07, 2023 -- InvestorsHub NewsWire -- ILUS International Inc. (OTC: ILUS) is a Mergers and Acquisitions company focused on acquiring and growing companies in the public safety, industrial, defense and renewable sectors. The uplist discussions for ILUS subsidiaries and the company proper have piqued Wall Street's interest and paved the way for an invitation to interview on the NYSE floor.
The NYSE floor interview date is set for June 15th, 2023. The interview will be released to the public on June 26th, 2023.
Some of the topics to be discussed during the interview include:
- Quality Industrial Corp.'s (OTC: QIND) NYSE uplist status and benefit to ILUS shareholders and corporate bottom line
- ILUS International Inc.'s QB status and uplist to a National Exchange
- Current and future acquisitions, subsidiaries, and investment plans
John-Paul Backwell, ILUS Managing Director, will be representing ILUS on the floor of the NYSE. Mr. Backwell has 25 years' experience in the development and leadership of Global Businesses predominantly in the fields of Public Safety, Manufacturing and Distribution, with a focus on disruptive technology.
"Our rapid and sustainable growth, global reach and corporate roadmap have brought the ILUS family of companies to this juncture. We look forward to expanding the marketplace's understanding of ILUS International and I can't think of anyone better than John-Paul Backwell to bring his corporate knowledge to investors from the NYSE floor," commented ILUS CEO, Nicolas Link.
For further information on ILUS, please see its communication channels:
Website: https://ilus-group.com
Twitter: @ILUS_INTL
Email: IR@Ilus-Group.com
Source: ILUS
Related Links
https://ilus-group.com
If anything good happens here, which SP benefits the most? ILUS or QIND?
NEWS: $QIND Confirms Its First Quarter of 2023 Results, with Increased Net Profit Margin and Positive Outlook for 2023 Quarter-on-Quarter Growth
SAN FRANCISCO, CA / ACCESSWIRE / May 22, 2023 / Quality Industrial Corp. (OTC PINK:QIND), filed its first quarter of 2023 results on Friday May 19, 2023. It was a productive quarter during which the company laid solid foundations for future growth and progressed towards its planned uplist to a National Stock Exchange during the summer of 2023.
QIND reported Q1 2023 revenue of $18,157,850 with net profit of $2,030,710. This represents a net profit margin of 11.1% for the three months ended March 31, 2023, compared to a 10.3%net profit margin for the FY 2022. QIND is optimistic about the Q1 2023 versus Q1 2022 growth of its acquisitions, which is most relevant when analyzing and improving the progress of its operations. With customer behavior varying between quarters due to seasonal and cyclical trends, the third and fourth quarters of the year are often the strongest for businesses in the Industrial & Manufacturing industries. As was the trend with its Quarter-on-Quarter growth in 2022, and given its current order book and opportunity pipeline, the company expects this cyclical trend to continue through 2023 and beyond.
QIND's acquisition, Quality International Ltd Co FCZ, increased its Q1 2023 revenue by more than 200% over Q1 2022. Having received a further $40 million in new purchase orders during the first quarter, the company has a current order book of $180 million (purchase orders in hand), which it expects to deliver to customers during 2023 and 2024. Based on the status of current opportunities in its sales pipeline, Quality International expects to obtain a further $250 million in new purchase orders for delivery in 2023, 2024, and 2025.
"We are pleased with this solid first quarter performance which confirms that our quarterly progress is in line with our forecasts for 2023 and beyond. As was the case in 2022, although now with heightened demand and a larger order book, we anticipate impressive quarter-on-quarter growth through the course of this year." said QIND CEO, John-Paul Backwell.
During the second Quarter of 2023, QIND continues with the integration and optimization of its acquisitions while simultaneously negotiating with new acquisition targets. In conjunction with its anticipated uplist to a National Stock Exchange, the company plans to hire additional Executives and Directors with extensive industry experience to streamline its financial reporting, compliance, and corporate governance.
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.
View source version on accesswire.com:
https://www.accesswire.com/756303/QIND-Confirms-Its-First-Quarter-of-2023-Results-with-Increased-Net-Profit-Margin-and-Positive-Outlook-for-2023-Quarter-on-Quarter-Growth
Good morning. $QIND Filings out.
Good morning. $QIND .53 +7.94% up Early! Nice volume and interest
$QIND “We regard QIND’s uplist to the NYSE American and an ILUS uplist to the OTCQB as waypoints on our path towards an ILUS senior exchange listing. It has been a very busy few months for ILUS behind the scenes and we have made important progress across each of our subsidiaries. Therefore, we will be releasing several positive business progress and subsidiary updates as well as announcements over the coming weeks,” said ILUS CEO, Nicolas Link.
https://www.marketwatch.com/press-release/ilus-updates-on-otcqb-application-and-nyse-american-listing-application-of-its-industrial-subsidiary-2023-04-19?mod=mw_quote_news_seemore
$QIND Expecting updates by end of next week
QIND is uplisting to the NYSE *American*.
I don't understand what you meant in your post. It would be helpful if you used full sentences.
$QIND is uplisting to the NYSE American exchange. This is different but related to the NYSE and it has different standards than the NYSE. Look at "Standard 3" in the graphic in the tweet. It has a minimum price of $2.
If you can reword your post, I can respond to any questions you may have. QIND right here is looking very good.
I think under "Standard 3" which $QIND can meet, the minimum price is $2 for NYSE American. pic.twitter.com/DtzQY8cJPM
— FredZ (@AgInAustin1) April 26, 2023
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.
ACCESSWIRE / January 11, 2024 / Samsara Luggage, Inc. (OTCQB:SAML) was formerly a manufacturer and distributor of luggage and following a change in business direction, the company is now a Mergers and Acquisitions company focused on acquiring and growing companies in the public safety sector. This change in business direction follows the acquisition of the majority stake in SAML by Ilustrato Pictures International Inc. (OTC: ILUS).
As per the Form 8-K filed by SAML on January 9, 2024, the company confirmed that ILUS acquired a convertible note from YAII PN, LTD with outstanding principal and accrued interest of $600,684.93. On January 5, 2024, ILUS converted the note into 150,753,425 shares of SAML common stock. As a result of the conversion, as of January 5, 2024, ILUS acquired control of 91.5% of the outstanding shares in SAML.
SAML confirms that its existing luggage business will be spun out and ILUS intends to merge in several of its existing Emergency Response focused companies in return for a stock consideration to Shareholders of ILUS. The company confirms that going forward, it will function as the Emergency Response subsidiary of ILUS, known as Emergency Response Technologies (ERT).
SAML plans to change its name and ticker as appropriate for its change in business direction. This shall take place in connection with a short form merger with its wholly owned subsidiary, Emergency Response Technologies, in accordance with NRS 92A.180. The corporate action will be submitted to FINRA and will be effective once a market effective date is provided by FINRA.
SAML is planning the aggressive expansion of Emergency Response Technologies in order to execute the business plan of its parent company, ILUS. The company has made its own funding arrangements in order to execute its growth plan. In addition to the merging in of existing ILUS assets, the company is considering further acquisition options, whereby negotiations have taken place or are currently taking place. This includes the possible acquisition of a US headquartered emergency vehicle manufacturer and distributor. Following execution of its initial growth plan, SAML intends to uplist to a major stock exchange.
Mrs. Atara Dzikowski, and Mr. David Dahan have resigned from all their positions with SAML. Nicolas Link was appointed as SAML's Chairman of the Board and John-Paul Backwell was appointed as the company's Chief Executive Officer and Director. Dan Peters will serve as President of SAML, and further appointments will be made to the company's board and management team.
Over the course of the coming weeks, SAML will provide a number of updates to Shareholders as assets are merged in and business progress is made. SAML Shareholders are urged to keep an eye on the company's ERT website and ERT Twitter account, the details of which are listed below:
Websites: https://ert-international.com
Twitter: @ERT_ILUS
Email: info@ert-international.com
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.
SOURCE: Samsara Luggage Inc.
© Copyright 2024 ACCESSWIRE. All Rights Reserved.
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.
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.
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.
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