{"url_path":"/sec/olox/8-k/2026-02-13/item-1-01","section_key":"item-1-01","section_title":"Item 1.01 Entry","topic":"sec","document":{"doc_type":"8-K","doc_date":"2026-02-13","source_url":"https://www.sec.gov/Archives/edgar/data/1023994/0001213900-26-015893-index.html","accession_number":"0001213900-26-015893","cik":"0001023994","ticker":"OLOX","issuer_name":"OLENOX INDUSTRIES INC.","edgar_url":"https://www.sec.gov/Archives/edgar/data/1023994/0001213900-26-015893-index.html","primary_entity_key":"0001023994","primary_entity_name":"OLENOX INDUSTRIES INC."},"word_count":382,"has_tables":true,"body_markdown":"**Item 1.01 Entry\ninto a Material Definitive Agreement.**\n\n ** **\n\nOn February 10,\n2026 (the “Effective Date”), Olenox Industries Inc. (the “Company”), executed a mutual settlement and release\nagreement (the “Settlement Agreement”) with Cedar Advance LLC (“Cedar”), to resolve the outstanding balance of\n$1,732,500 (the “Balance”) owed by the Company pursuant to those certain Standard Merchant Cash Advance Agreements between\nthe Company and Cedar.\n\n \n\nPer the terms\nof the Settlement Agreement, the Company will issue Cedar up to 500,000 shares (the “Initial Shares”) of common stock of\nthe Company (the “Common Stock”), which shall be issued to Cedar as promptly as possible after the full execution of the\nSettlement Agreement. The Company shall not issue a number of shares of Common Stock to Cedar that would exceed 4.99% of the shares\nof Common Stock outstanding at any given time (the “Beneficial Ownership Limitation”).\n\n \n\nPer the terms of\nthe Settlement Agreement, the parties will perform a sales analysis once the Initial Shares have been sold by Cedar, to determine the\ngross sales proceeds received by Cedar from the sale of the Initial Shares (the “Proceeds”). In the event the Proceeds are\nless than the Balance, the Company agrees to promptly issue additional restricted shares of Common Stock to Cedar as a true-up (the “True-up\nShares”). The number of True-up Shares to be issued to Cedar shall be calculated by subtracting the Proceeds from the Balance (the\n“True-up Value”), and dividing the True-up Value by the volume weighted average price (“VWAP”) of the Company’s\nCommon Stock (as reported by NASDAQ-CM exchange) for the ten trading days immediately preceding the date the True-up Value is calculated.\nTo the extent the Beneficial Ownership Limitation prevents the issuance of enough True-up Shares, the Company will hold those excess shares\nof Common Stock and issue them once the Beneficial Ownership Limitation permits such issuance.\n\n \n\nUnder the terms\nof the Settlement Agreement, Cedar and the Company each agree to waive and release any and all claims against the other, except with respect\nto each party’s performance under the Settlement Agreement. The foregoing description of the Settlement Agreement is qualified in\nits entirety by reference to the full text of the Settlement Agreement, a copy of which is attached hereto as Exhibit 10.1 and is incorporated\nherein in its entirety by reference."}