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) announces the completion of an independent external evaluation for the acquisition of Quality International Co Ltd, with a first tranche payment of $1 million already made. Financial results from this acquisition will be included in QIND's upcoming Q2 and Q3 2022 reports. Projected figures include 2022 revenue of $105-125 million and EBITDA of $11-13 million. Management emphasizes that thorough due diligence has been prioritized to ensure growth and stability during the transition.
Quality Industrial Corp. (QIND) announced its transfer from the OTCQB to the Pink Current market, effective September 15, 2022. This action was prompted by a recent acquisition and the company’s ongoing efforts to comply with OTC standards. Despite the move, company management maintains that it will not hinder business operations or growth plans. However, they expressed concerns over the lack of communication from OTC Markets regarding the transfer and the implications for shareholders, indicating potential legal action. The company remains optimistic about future developments.
Quality Industrial Corp. (OTCQB:QIND) has appointed Pipara & Co LLP as its independent registered public accounting firm as of August 19, 2022. This strategic decision aims to expedite the audit process for its upcoming subsidiary in the United Arab Emirates. QIND expects to finalize a significant acquisition in the UAE by September 2022, having already made a first tranche payment of $1 million. The company is also in discussions for two additional acquisitions in the renewable energy and industrial manufacturing sectors.
Quality Industrial Corp. (OTCQB:QIND) announced on August 22, 2022, the dismissal of Boyle CPA, LLC as its independent registered public accounting firm, engaging Pipara & Co LLP instead, approved by the Board of Directors. On June 30, 2022, the company signed a Binding Letter of Intent to acquire 51% of a UAE-based company specializing in custom solutions for various sectors. The new accounting firm’s global presence will enable efficient audits for Quality Industrial's UAE subsidiary, which has high revenue and growth potential.
Quality Industrial Corp. (OTCQB:QIND) released its second quarter 2022 results, reporting no revenue but highlighting significant operational progress. The company expects revenue of $20-25 million in Q3 2022. Following a majority acquisition by ILUS International, changes were made to QIND’s board to enhance operations. They signed a Letter of Intent to acquire a 51% stake in a Dubai-based manufacturing company generating $100 million annually. The first tranche payment of $1 million has been completed, with further acquisitions in negotiation.