Welcome to our dedicated page for QUALITY INDL news (Ticker: QIND), a resource for investors and traders seeking the latest updates and insights on QUALITY INDL stock.
Quality Industrial Corp. (QIND) is an industrial and energy-focused company whose news flow centers on its liquefied petroleum gas (LPG) operations and corporate transactions. Through its operating subsidiary Al Shola Gas, a United Arab Emirates headquartered engineering and distribution company in the gas sector, QIND reports on contracts for centralized gas pipeline systems, LPG cylinder distribution, and bulk LPG supply to commercial, residential, and industrial clients.
News updates often highlight financial results, including revenue and net income contributions from Al Shola Gas, as well as order activity for central gas system installations, bulk LPG deliveries, and LPG cylinder distribution. These releases provide insight into demand trends from customers such as commercial buildings, mixed-use developments, shopping complexes, food courts, heavy industries, labor accommodations, catering units, commercial kitchens, and restaurants across the United Arab Emirates.
QIND’s news feed also covers corporate and capital markets developments. Examples include the acquisition of a controlling interest in Al Shola Gas, a binding term sheet with Actelis Networks, Inc. for a potential majority stake in QIND, and a Stock Purchase Agreement with Fusion Fuel Green PLC that, if completed, would result in a change of control. The company has additionally reported on registration statements and plans related to potential exchange listings and public offerings.
Investors and followers of QIND’s OTC-listed stock can use this news page to review company-issued updates on operational performance, contract wins, strategic transactions, auditor changes, and shareholder communications. Regularly checking this feed helps track how QIND’s LPG-focused industrial operations and corporate initiatives evolve over time based on its own public disclosures.
Quality Industrial Corp (OTC: QIND) filed a Preliminary Schedule 14C Information Statement after stockholder and board written consent approved an amendment to increase authorized common stock from 200,000,000 shares to 450,000,000 on Jan 20, 2026.
The amendment does not issue shares immediately and is expected to become effective no earlier than 20 calendar days after the definitive information statement is mailed to stockholders of record as of Jan 20, 2026. The company says the increase is intended to provide flexibility for obligations, debt restructuring, financing initiatives, and corporate transactions, and to support restructuring of the Share Purchase Agreement relating to Al Shola Gas. Future issuances could dilute existing holders and affect market price.
Quality Industrial (OTC: QIND) reported strong financial results for fiscal year 2024, marking a significant turnaround with net income of $266,780, compared to a net loss of $4.2 million in 2023.
Key highlights:
- Total Revenue: $11.2 million, driven by Al Shola Gas acquisition
- Subsidiary Performance: Al Shola Gas revenue reached $14.3 million, up 31.1% from 2023
- Operating Expenses: Increased to $3.3 million from $2.8 million in 2023
- Professional Fees: Rose to $849,925, including reaudit costs and merger-related legal fees
The company, focused on LPG solutions, serves diverse clients including commercial buildings, shopping centers, and industrial facilities. Through Al Shola Gas, they provide consulting, design, installation, and maintenance of LPG systems. Looking ahead to 2025, the company plans to invest in operational efficiency and expand bulk LPG supply operations with new vehicles.
Quality Industrial Corp (QIND) has entered into a Stock Purchase Agreement with Fusion Fuel Green PLC (HTOO) for the transfer of approximately 69% of QIND's capital stock. The deal involves 78,312,334 common shares and 20,000 Series B Preferred Stock shares. In exchange, Fusion Fuel will issue ordinary and convertible preferred shares, resulting in the sellers holding about 70% ownership in Fusion Fuel. The transaction aims to combine QIND's recurring revenue and gas value chain expertise with Fusion Fuel's hydrogen engineering capabilities, targeting expansion in both Middle Eastern and European markets. The deal's completion is subject to various conditions, including Nasdaq approval and shareholder consent.
Quality Industrial Corp. (OTC PINK:QIND), an industrial company serving the Oil & Gas and Utility sectors, has announced two significant updates. Firstly, the company's board of directors has appointed Bush and Associates CPA as its new independent registered public accounting firm, replacing Pipara and Co LLP. Bush and Associates will review QIND's consolidated financial statements for the period ending June 30, 2024, and audit the fiscal year ending December 31, 2024.
Secondly, QIND provided an update on its potential acquisition by Actelis Networks, Inc. (NASDAQ: ASNS). The parties have extended the non-solicitation and no-shop periods until August 30, 2024, as they continue to work towards completing the transaction. However, QIND cautions that there is no guarantee the proposed transaction will be finalized.
Quality Industrial Corp. (OTC PINK:QIND) announced that its operating business, Al Shola Gas (ASG), received over $1 million in sales orders in the first three weeks of July 2024. The orders include:
- Six new Central Gas System installations totaling $513,000
- Bulk supply of over 250 Metric Tonnes of LPG, amounting to $427,000
- LPG cylinder distribution orders worth $136,000
CEO John-Paul Backwell expressed satisfaction with the strong start to Q3 and mentioned plans to order new bobtail trucks to meet increasing demand. The company is also negotiating project bids in Sub-Saharan Africa and the Middle East, aiming for substantial growth in 2025. Additionally, QIND is working on finalizing a previously announced acquisition to boost its growth trajectory.
Quality Industrial Corp. (QIND), a company focusing on the industrial, oil & gas, and utility sectors, has signed a binding term sheet with Actelis Networks for Actelis to acquire between 61% to 75% of QIND's issued and outstanding shares. Actelis specializes in cyber-hardened networking solutions for wide-area IoT applications. The acquisition aims to leverage Actelis' advanced technologies to improve QIND's business efficiencies and support future acquisitions.
In 2023, QIND reported $11 million in revenue and $1.8 million in net income. For Q1 2024, revenues were $3.1 million, with a net income of $0.76 million. The transaction involves Actelis issuing 19.99% of its common stock and preferred non-voting shares to the sellers. The deal is expected to close within 60 days, subject to regulatory requirements and due diligence.
Quality Industrial Corp. (OTC PINK:QIND) reported strong financial performance for Q1 2024, generating $3,086,519 in revenue, a significant increase attributed to the acquisition of Al Shola Gas.
Al Shola Gas saw a 28% revenue increase compared to Q1 2023, focusing on Bulk LPG supply, which led to higher margins. QIND's gross profit percentage rose to 37%, up from 32% in the previous year.
QIND achieved a net income of $758,440, a notable improvement from a net loss of $84,536 in Q1 2023. The company is now focusing on expanding Al Shola Gas and is preparing to invest in additional infrastructure to support increased LPG supply.
QIND is also working towards a senior exchange listing, with significant progress made in negotiations with a Dubai-based company.
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