{"url_path":"/sec/qind/10-q/2026/item-3","section_key":"item-3","section_title":"Item 3 Defaults Upon Senior Securities.","topic":"sec","document":{"doc_type":"10-Q","doc_date":"2026-05-15","source_url":"https://www.sec.gov/Archives/edgar/data/1393781/0001493152-26-023406-index.html","accession_number":"0001493152-26-023406","cik":"0001393781","ticker":"QIND","issuer_name":"Quality Industrial Corp.","edgar_url":"https://www.sec.gov/Archives/edgar/data/1393781/0001493152-26-023406-index.html","primary_entity_key":"0001393781","primary_entity_name":"Quality Industrial Corp."},"word_count":447,"has_tables":true,"body_markdown":"Item\n3. Defaults Upon Senior Securities.\n\n \n\nThe\nfollowing convertible promissory notes were in default as of March 31, 2026:\n\n \n\n \n(i)\na convertible note in the original principal amount of $1,100,000 issued to RB Capital Partners Inc. (“RB Capital Partners”), which matured on August 3, 2024, as to which the Company defaulted in the amount of $1,254,422, and had a total amount in arrearage of $1,391,545 as of May 15, 2026;\n\n \n(ii)\na convertible note in the original principal amount of $200,000 issued to RB Capital Partners, which matured on March 16, 2025, as to which the Company defaulted in the amount of $228,038, and had a total amount in arrearage of $184,935 as of May 15, 2026;\n\n \n(iii)\na convertible note in the original principal amount of $220,000 issued to Jefferson Street Capital LLC (“Jefferson Street Capital”), which matured on February 23, 2024, as to which the Company defaulted in the amount of $340,963, and had a total amount in arrearage of $118,420 as of May 15, 2026;\n\n \n(iv)\na convertible note in the original principal amount of $550,000 issued to Sky Holdings Ltd, which matured on December 16, 2023, as to which the Company defaulted in the amount of $569,303, and had a total amount in arrearage of $539,015 as of May 15, 2026;\n\n \n(v)\na convertible note in the original principal amount of $100,000 issued to Lorlev 26 Irrevocable Trust, which matured on December 20, 2024, as to which the Company defaulted in the amount of $120,000, and had a total amount in arrearage of $9,000 as of May 15, 2026;\n\n \n(vi)\na convertible note in the original principal amount of $35,000 issued to Exchange Listing LLC, which matured on August 6, 2024, as to which the Company defaulted in the amount of $36,755, and had a total amount in arrearage of $49,785 as of May 15, 2026;\n\n \n(vii)\na convertible note in the original principal amount of $71,500 issued to Jefferson Street Capital, which matured on February 21, 2025, as to which the Company defaulted in the amount of $117,818, and had a total amount in arrearage of $17,094 as of May 15, 2026; and\n\n \n(viii)\na convertible note in the original principal amount of $405,000 issued to J.J. Astor & Co., which matured on June 30, 2025, as to which the Company defaulted in the amount of $412,088, and had a total amount in arrearage of $162,085 as of May 15, 2026.\n\n \n\nFor\na further description of terms and repayment status with respect to the above convertible notes, see Part 1. Item 2. “*Management’s\nDiscussion and Analysis of Financial Condition and Results of Operations – Liquidity and Capital Resources – Non-Related\nParty Debt*”."}