Welcome to our dedicated page for Quality Industrial SEC filings (Ticker: QIND), a comprehensive resource for investors and traders seeking official regulatory documents including 10-K annual reports, 10-Q quarterly earnings, 8-K material events, and insider trading forms.
Quality Industrial Corp. filings document material-event disclosures for an industrial and energy-focused LPG business and its majority-owned operating subsidiary, Al Shola Gas. The company’s Form 8-K reports and amendments furnish annual results, shareholder letters, operational performance updates, and forward-looking risk language tied to LPG engineering, maintenance, and distribution activity.
Its regulatory record also covers governance changes, board structure, debt reduction, capital-structure matters, and shareholder voting materials related to authorized common stock. These filings provide formal disclosure on operating results, corporate actions, and management updates for QIND’s public-company reporting.
Quality Industrial Corp. (QIND) obtained written consent from its board and a stockholder holding approximately 51.9% of voting stock to adopt Second Amended and Restated Articles of Incorporation. These will, among other changes, increase authorized common shares from 450,000,000 to 1,000,000,000 (the “Authorized Share Increase”).
The amendments also authorize the board to sell, lease or exchange all or substantially all company assets without stockholder approval, broaden limitations on director and officer liability, add indemnification and expense advancement provisions, introduce a Nevada-exclusive forum clause for most internal corporate claims, opt out of Nevada’s control share statute, and adopt a corporate opportunity waiver. The changes are expected to become effective on or about October 1, 2026, at least 20 days after mailing of this information statement.
Quality Industrial Corp. (QIND) has obtained written consent from its board and a stockholder holding approximately 51.9% of its voting stock to adopt Second Amended and Restated Articles of Incorporation. The changes will become effective upon filing with the Nevada Secretary of State, expected on or about October 1, 2026, at least 20 days after mailing this information statement.
The amendments increase authorized common stock from 450,000,000 to 1,000,000,000 shares, while preferred stock authorization remains at 1,000,000 shares. As of August 31, 2026, QIND had 193,500,498 common shares outstanding and no Series B preferred outstanding. The board is newly empowered to sell, lease or exchange all or substantially all of the company’s assets without stockholder approval.
The revisions also broaden director and officer liability protections, add explicit indemnification and advancement-of-expense rights, adopt an exclusive Nevada forum for most internal corporate claims, opt out of Nevada’s control share statute, and include a corporate opportunity waiver that allows specified insiders and their affiliates to pursue certain business opportunities without offering them to the company.
Quality Industrial Corp. reported for the quarter and six months ended June 30, 2026. Six‑month revenue was $7,199,666 versus $7,630,934 a year earlier, with gross profit of $2,032,540. Operating performance improved to operating income of $307,950 compared with a prior‑year loss.
After interest and other items, six‑month net income was $198,150, but due to strong results at majority‑owned Al Shola Gas, net loss attributable to QIND stockholders was $23,474. The balance sheet shows total assets of $17,085,150, including $8,411,100 of goodwill, against total liabilities of $18,500,414, leaving a shareholders’ equity deficit of $1,415,264, though this deficit narrowed from year‑end.
Cash flow from operations for the first half was a use of $341,094, with cash and equivalents declining to $150,012. Liabilities include $2,493,483 of convertible debt and $4,771,169 due to majority owner Fusion Fuel under financing arrangements. Management states that continuation as a going concern depends on generating sufficient revenue and accessing additional debt or equity financing.
Quality Industrial Corp. entered into a Promissory Note & Loan Modification and Forbearance Agreement with RB Capital Partners covering two previously issued convertible notes with original principal of $1,100,000 and $200,000. As of June 30, 2026, the aggregate amount outstanding under these notes was $1,587,439.64.
The company agreed to pay a total of $1,675,000 in 19 installments from July 30, 2026 through January 15, 2028, with no additional interest so long as no default occurs. A $30,000 timely payment discount can reduce the final installment. The notes’ term is extended to March 1, 2028, and RB Capital agrees to forbear from enforcing remedies during a defined forbearance period, subject to detailed default and cure provisions and a 5% default interest rate on unpaid amounts after default.
The holder’s right to convert principal into common stock at $1.00 per share, subject to beneficial ownership limitations, is expressly preserved; any converted principal reduces the payment schedule. Mutual releases and covenants not to sue become fully effective when the payment amount is paid in full, and any conversion shares are expected to be issued in transactions exempt from registration under Section 4(a)(2) and/or Regulation D.
Quality Industrial Corp. reported modestly higher revenue and a near break-even bottom line for the three months ended March 31, 2026. Revenue was $3.67 million, slightly above the prior-year period’s $3.62 million, generating gross profit of about $1.0 million.
Operating expenses fell sharply to $824,780 from $1.90 million, lifting operating results from a $947,122 loss to operating income of $175,820. Net income attributable to QIND stockholders was just $8,828, effectively break-even on a basic and diluted EPS of $0.00.
The balance sheet remains strained. Total assets were $16.90 million against total liabilities of $18.42 million, leaving an equity deficit of $1.52 million. Current liabilities of $18.04 million far exceed current assets of $7.30 million, and cash was $172,548, with $309,650 of net cash used in operating activities.
Management disclosed a going concern uncertainty, stating the company’s ability to continue depends on generating sufficient revenue and raising capital through borrowings and security sales. Subsequent events include new ASG subcontracts worth about $1.14 million, an authorized share increase to 450 million, and a leadership change appointing Carsten Kjems Falk as CEO.
Quality Industrial Corp. announced a leadership change, with John-Paul Backwell resigning as Chief Executive Officer effective April 20, 2026, for personal and health reasons while remaining on the board. The board appointed Carsten Kjems Falk as Chief Executive Officer, and he will also continue serving as Interim Chief Financial Officer and a director.
Falk has held multiple senior roles at the company since 2020, including prior service as CEO and Chief Commercial Officer, and brings experience from SaaS, FMCG, energy, and Domino’s Pizza Denmark. The company issued a press release on April 23, 2026, highlighting its focus on disciplined execution, operational efficiency, and ongoing strategic transactions, while cautioning that forward-looking statements are subject to significant risks and uncertainties.
Quality Industrial Corp. COO and Managing Director Middle East Safir Sanjeeb reported two major share transactions involving 1,000,000 QIND common shares. On September 2, 2024, he received 1,000,000 shares as a grant or award, held directly.
On November 26, 2024, he disposed of 1,000,000 QIND shares in a transaction coded as an open-market or private sale. A related agreement shows these shares were transferred to Fusion Fuel Green PLC under a Stock Purchase Agreement, in exchange for 46,314 Series A Convertible Preferred Shares of Fusion Fuel. Each Series A share is automatically convertible, once certain shareholder and Nasdaq listing conditions are met, into ten Fusion Fuel Class A Ordinary Shares. Based on Nasdaq’s last reported price of $4.64 per Fusion Fuel Class A Ordinary Share on November 25, 2024, the QIND shares were effectively valued at about $2.15 per share on an as-converted basis.
Quality Industrial Corp. executive Safir Sanjeeb, who serves as COO and Managing Director Middle East, filed an initial Form 3 reporting his beneficial ownership status. The filing shows no transactions, no derivative positions, and no reported share purchases or sales at this time.
Quality Industrial Corp. filed an amended 8-K to replace an erroneous prior earnings release and provide a corrected FY 2025 shareholder letter and results. Revenue rose 45.9% to $16.3 million from $11.2 million, with gross profit up to $4.8 million but gross margin declining from 35.5% to 29.4% as operating expenses increased 60.7% to $5.2 million.
The company swung from GAAP net income of $0.3 million to a GAAP net loss of $4.6 million, largely reflecting turnaround-related items and legacy write-offs. Non-GAAP adjusted net income improved from a loss of $0.2 million to a profit of $0.6 million. Management highlights governance changes, settlement of about $2.0 million of legacy employee and officer obligations, reduction of accounts payable by 45% to $1.2 million, lower convertible notes, and approximately $4.4 million of capital support from parent Fusion Fuel. For 2026, QIND is targeting $20 million of revenue, emphasizing growth at Al Shola Gas and continued debt servicing.
Quality Industrial Corp. reported fiscal 2025 revenue of $16,307,787, up 45.9% from $11,177,567, reflecting strong growth at its Al Shola Gas subsidiary. Gross profit rose to $4,788,780, but gross margin declined to 29.4% from 35.5% as operating expenses increased 60.7% to $5,245,558.
The company posted a reported net loss of $4,603,645 versus prior-year net income of $266,780. After non-recurring turnaround and legacy items, adjusted net income was $566,853, up 452% from $160,774. QIND reduced convertible note principal and accounts payable while using capital from Fusion Fuel to clean up legacy liabilities and fund Al Shola Gas growth.
Al Shola Gas secured approximately $7 million in new engineering contracts and about $2 million in annual recurring fuel distribution contracts and expanded into the northern emirates. Management highlights ongoing risks from regional conflict, remaining convertible debt, potential future dilution, and the need for additional financing, even as core turnaround actions are largely completed.