Quality Industrial Corp. Files 10-Q/A Amendment
Ticker: QIND · Form: 10-Q/A · Filed: Sep 12, 2024 · CIK: 1393781
Sentiment: neutral
Topics: 10-Q/A, amendment, filing
TL;DR
Quality Industrial Corp. (fka WIKISOFT) filed a 10-Q/A amendment for Q2 2024. Check for updates.
AI Summary
Quality Industrial Corp. filed an amendment (10-Q/A) on September 12, 2024, for its quarterly report for the period ended June 30, 2024. The company, formerly known as WIKISOFT CORP. and POWER PLAY DEVELOPMENT CORP., is incorporated in Nevada and headquartered in San Francisco, CA.
Why It Matters
This filing indicates an update or correction to the company's financial reporting for the second quarter of 2024, which could contain important information for investors.
Risk Assessment
Risk Level: low — This filing is an amendment to a standard quarterly report and does not appear to contain significant new financial information or disclosures that would immediately alter risk.
Key Numbers
- 000-56239 — Commission File Number (Identifies the specific SEC filing)
- 20240630 — Quarterly Period End Date (Specifies the reporting period)
Key Players & Entities
- Quality Industrial Corp. (company) — Registrant
- WIKISOFT CORP. (company) — Former company name
- POWER PLAY DEVELOPMENT CORP (company) — Former company name
- 000-56239 (dollar_amount) — Commission File Number
- 20240630 (date) — Period of report
- 20240912 (date) — Filing date
FAQ
What is the purpose of this 10-Q/A filing?
This filing is an amendment to the Form 10-Q for the quarterly period ended June 30, 2024, indicating updates or corrections to the original report.
When was this amendment filed?
The amendment was filed on September 12, 2024.
What was Quality Industrial Corp. formerly known as?
Quality Industrial Corp. was formerly known as WIKISOFT CORP. and POWER PLAY DEVELOPMENT CORP.
In which state is Quality Industrial Corp. incorporated?
Quality Industrial Corp. is incorporated in Nevada.
What is the principal executive office address for Quality Industrial Corp.?
The principal executive office is located at 315 Montgomery Street, San Francisco, CA 94104.
Filing Stats: 4,513 words · 18 min read · ~15 pages · Grade level 15.1 · Accepted 2024-09-12 15:32:32
Filing Documents
- ea0214338-10qa1_quality.htm (10-Q/A) — 642KB
- ea021433801ex31-1_quality.htm (EX-31.1) — 10KB
- ea021433801ex31-2_quality.htm (EX-31.2) — 10KB
- ea021433801ex32-1_quality.htm (EX-32.1) — 6KB
- 0001213900-24-078115.txt ( ) — 4881KB
- qind-20240630.xsd (EX-101.SCH) — 52KB
- qind-20240630_cal.xml (EX-101.CAL) — 39KB
- qind-20240630_def.xml (EX-101.DEF) — 231KB
- qind-20240630_lab.xml (EX-101.LAB) — 436KB
- qind-20240630_pre.xml (EX-101.PRE) — 240KB
- ea0214338-10qa1_quality_htm.xml (XML) — 494KB
– FINANCIAL INFORMATION
PART I – FINANCIAL INFORMATION Item 1:
Financial Statements
Financial Statements 1 Item 2:
Management's Discussion and Analysis of Financial Condition and Results of Operations
Management's Discussion and Analysis of Financial Condition and Results of Operations 2 Item 3:
Quantitative and Qualitative Disclosures About Market Risk
Quantitative and Qualitative Disclosures About Market Risk 6 Item 4:
Controls and Procedures
Controls and Procedures 6
– OTHER INFORMATION
PART II – OTHER INFORMATION Item 1:
Legal Proceedings
Legal Proceedings 7 Item 1A:
Risk Factors
Risk Factors 7 Item 2: Unregistered Sales of Equity Securities and Use of Proceeds 7 Item 3: Defaults Upon Senior Securities 7 Item 4: Mine Safety Disclosures 7 Item 5: Other Information 7 Item 6: Exhibits 7 i
- FINANCIAL INFORMATION
PART I - FINANCIAL INFORMATION
Financial Statements
Item 1. Financial Statements Our financial statements included in this Form 10-Q are as follows: F-1 Consolidated Balance Sheets as of June 30, 2024 (Unaudited) and December 31, 2023; F-2 Consolidated Statements of Operations for the three and six months ended June 30, 2024, and 2023 (Unaudited); F-3 Consolidated Statement of Stockholders' Equity (Deficit) for the three and six months ended June 30, 2024, and 2023 (Unaudited); F-4 Consolidated Statements of Cash Flows for the six months ended June 30, 2024, and 2023 (Unaudited); and F-5
Notes to Consolidated Financial Statements (Unaudited)
Notes to Consolidated Financial Statements (Unaudited). 1 QUALITY INDUSTRIAL CORP. CONSOLIDATED BALANCE SHEETS (UNAUDITED) June 30, 2024 Unaudited December 31, 2023 Audited ASSETS Current Assets Cash $ 101,243 $ 2,492 Inventory 1,104,220 - Accounts Receivable 2,112,165 - Deposits, Advances & Prepayments 552,044 - Other Current Assets 2,000,000 2,000,000 Total Current Assets 5,869,672 2,002,492 Non-Current Assets Related Party Receivables 1,866,551 333,133 Long Term Investments - 6,500,000 Property, Plant and Equipment 85,129 - Right-of-Use assets 204,182 - Goodwill 8,479,222 - Total Non-current Assets 10,635,084 6,833,133 Total Assets 16,504,756 8,835,625 LIABILITIES AND STOCKHOLDERS' DEFICIT Current Liabilities Accounts Payable 894,307 166,577 Related Party Payable 30,155 - Operating Lease Liabilities 69,604 - Convertible Notes, net of discount 2,331,919 2,310,109 Notes payable - current 4,932,258 5,379,554 Other Current Liabilities 453,976 235,886 Total Current Liabilities 8,712,219 8,092,126 Non-Current Liabilities Operating Lease Liabilities - Non-Current Portion 143,367 - Notes payable – long-term 5,820,972 - Total Long-Term Liabilities 5,964,339 0 Total Liabilities 14,676,558 8,092,126 Stockholders' Equity Preferred stock; $ 0.001 par value; 1,000,000 shares authorized; 0 and 0 shares issued and outstanding as of as of June 30, 2024, and December 31, 2023, respectively - - Common stock; $ 0.001 par value; 200,000,000 shares authorized; 133,006,691 and 127,129,694 shares issued and outstanding as of June 30, 2024, and December 31, 2023, respectively 133,009 127,132 Additional paid-in capital 17,474,251 17,248,964 Accumulated Deficit ( 16,318,012 ) ( 16,632,597 ) Noncontrolling interest 538,950 - Total stockholders' Equity 1,828,198 743,499 Total liabilities and stockholders' Equity $ 16,504,756 $ 8,835,625 The a