Loan & DebtJul 15, 2026, 09:07 AM
Quality Industrial Corp. Modifies $1.675M Debt
AI Summary
Quality Industrial Corp. has entered into a Promissory Note & Loan Modification and Forbearance Agreement with RB Capital Partners, Inc. The agreement addresses two matured convertible promissory notes with an aggregate outstanding amount of $1,587,439.64 as of June 30, 2026. Under the new terms, the company will pay $1,675,000 in 19 monthly installments, with the final payment due by January 15, 2028, and the notes' term extended to March 1, 2028. The holder will forbear from exercising remedies during this period, and a $30,000 discount is offered for timely payments.
Key Highlights
- Quality Industrial Corp. entered a Forbearance Agreement with RB Capital Partners, Inc.
- Agreement relates to two convertible promissory notes totaling $1.3 million original principal.
- Aggregate outstanding amount on notes was $1,587,439.64 as of June 30, 2026.
- Company is required to pay an aggregate of $1,675,000 under the new agreement.
- Payment will be made in 19 monthly installments from July 30, 2026, to January 15, 2028.
- The term of the notes was extended to March 1, 2028.
- A $30,000 timely payment discount is available if the first 18 installments are paid on time.
Price Impact
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