Quality Industrial entered into a Promissory Note & Loan Modification and Forbearance Agreement with RB Capital Partners to restructure matured convertible notes totaling $1,587,439.64. The company will pay $1,675,000 in 19 installments from Jul. 30, 2026 through Jan. 15, 2028, with no additional interest if not in default and a potential $30,000 discount for timely payments. The forbearance period extends to Mar. 1, 2028, and the holder’s $1.00-per-share conversion right remains, reducing the payment amount upon conversion.
Agreement details:
- Agreement type: Promissory Note & Loan Modification and Forbearance Agreement for matured convertible notes
- Counterparty: RB Capital Partners
- Signed / Effective: Jul 10 2026 / same
- Duration / Termination: Through Mar 01 2028
- Reason: Restructure matured notes and manage liquidity
Original SEC Filing:
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