Fusion Fuel Green PLC - 26 Nov 2024 Form 3 Insider Report for Quality Industrial Corp. (QIND)

Role: 10%+ Owner
Signature: /s/ John-Paul Backwell
Issuer symbol: QIND
Transactions as of: 26 Nov 2024
Net transactions value: $0
Form type: 3
Filing time: 06 Dec 2024, 18:06:22 UTC
Next filing: 05 Aug 2025
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
holding	QIND	Common Stock						78,312,334	26 Nov 2024	Direct	F1
holding	QIND	Series B Convertible Preferred Stock						20,000	26 Nov 2024	Direct	F1

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
holding	QIND	Series B Convertible Preferred Stock							26 Nov 2024	Common Stock	20,000,000		Direct	F2

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Beneficial ownership of the shares was acquired from the Sellers (as defined below) on November 26, 2024 pursuant to a Stock Purchase Agreement (the "Agreement"), dated November 18, 2024, by and among the reporting person, Quality Industrial Corp., a Nevada corporation ("Quality"), and certain stockholders of Quality (the "Sellers"). The Agreement requires that the reporting person return the shares to the Sellers (i) within 15 calendar days after the Extended Meeting Deadline (as defined in the Agreement) if despite the reporting person's reasonable best efforts, the Shareholder Approval (as defined in the Agreement) is not obtained by the Extended Meeting Deadline; or (ii) if the reporting person fails to allocate cash raised from the Company Financing (as defined in the Agreement) in compliance with the Agreement, and the issuer continues to fail to do so within five calendar days after written notice from Quality.
F2	Each share of Series B Convertible Preferred Stock of the issuer is convertible into 1,000 shares of common stock of the issuer at the option of the reporting person, except in the event that such conversion would result in such holder's beneficial ownership of the common stock of the issuer exceeding 9.99% of the outstanding common stock of the issuer immediately after conversion.

Content

Beneficial ownership of the shares was acquired from the Sellers (as defined below) on November 26, 2024 pursuant to a Stock Purchase Agreement (the "Agreement"), dated November 18, 2024, by and among the reporting person, Quality Industrial Corp., a Nevada corporation ("Quality"), and certain stockholders of Quality (the "Sellers"). The Agreement requires that the reporting person return the shares to the Sellers (i) within 15 calendar days after the Extended Meeting Deadline (as defined in the Agreement) if despite the reporting person's reasonable best efforts, the Shareholder Approval (as defined in the Agreement) is not obtained by the Extended Meeting Deadline; or (ii) if the reporting person fails to allocate cash raised from the Company Financing (as defined in the Agreement) in compliance with the Agreement, and the issuer continues to fail to do so within five calendar days after written notice from Quality.

Each share of Series B Convertible Preferred Stock of the issuer is convertible into 1,000 shares of common stock of the issuer at the option of the reporting person, except in the event that such conversion would result in such holder's beneficial ownership of the common stock of the issuer exceeding 9.99% of the outstanding common stock of the issuer immediately after conversion.