Quality Industrial Corp. (QIND) Form 10-Q — Aug 13, 2026
Quality Industrial Corp. (OTC: QIND) filed its 10-Q for the quarter ended June 30, 2026 showing six-month revenue of $7,199,666, down roughly 5.7% year over year, with cash shrinking to $150,012 from $426,585 at year-end. The filing carries explicit going-concern language, stating the company's ability to continue depends on generating sufficient revenues and raising capital within one year of the filing date. The company is in default under multiple convertible promissory notes totaling about $2.49 million, carrying 15-20% default interest and deeply discounted conversion terms; 78,529,424 shares have already been issued on conversions.
Key figures
- Eps
- (0.00) basic and diluted for both the three and six months ended June 30, 2026
- Revenue
- 7199666
- Net Income
- 198150
- Total Debt
- ~$2,493,483 total balance remaining under defaulted convertible notes (incl. default and accrued interest); $8,980,000 current purchase consideration payable to ASG shareholders; $4,771,169 related-party payables to Fusion Fuel
- Revenue Yoy
- -5.65% for six months ended June 30, 2026 ($7,199,666 vs $7,630,934); -11.86% for the three-month quarter ($3,534,006 vs $4,009,461)
- Total Assets
- 17085150
- Cash Position
- 150012
- Shares Outstanding
- 193266631
- Authorized shares
- 450000000
- Total liabilities
- 18500414
- Fusion fuel ownership
- ~51.8%
- Loans from fusion fuel
- 4771169
- Goodwill asg acquisition
- 8411100
- Asg total cash obligations
- 11175000
- Forbearance payment amount
- 1675000
- Rakbank loan principal usd
- 419469
- Q2 2026 consolidated net income
- 64926
- Rakbank effective interest rate
- ~20.50% per annum
- Asg unsatisfied cash obligations
- 10155000
- Shares issued on note conversions
- 78529424
AI analysis
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