Actelis Networks Inc (ASNS)

[Trooperstocks]

$ASNS Form 8-K ACTELIS NETWORKS INC For: Nov 11

As previously disclosed, on May 23, 2024, Actelis Networks, Inc. (the “Company”) announced that it had entered into a binding term sheet (as amended, the “Term Sheet”) with Quality Industrial Corp, a Nevada corporation traded on the OTC under the symbol QIND (“Target”), and Ilustrato Pictures International Inc., a Nevada corporation (“Seller”, and, together with the Company and Target, the “Parties”), providing for the potential acquisition of between 61% to 75% of the issued and outstanding shares of the Target’s share capital.




As previously disclosed, on October 10, 2024, consistent with the termination provision in the Term Sheet, the Company invoked its right and provided the Target the requisite 30-day notice of the Company’s intention to terminate the Term Sheet.



On November 11, 2024, the Company notified the Target that the 30-day notice period had expired, and the Term Sheet is now terminated.