false Q1 --12-31 0001393781 0001393781 2025-01-01 2025-03-31 0001393781 2025-06-04 0001393781 2025-03-31 0001393781 2024-12-31 0001393781 us-gaap:SeriesBPreferredStockMember 2025-03-31 0001393781 us-gaap:SeriesBPreferredStockMember 2024-12-31 0001393781 2024-01-01 2024-03-31 0001393781 us-gaap:PreferredStockMember us-gaap:SeriesAPreferredStockMember 2024-12-31 0001393781 us-gaap:PreferredStockMember us-gaap:SeriesBPreferredStockMember 2024-12-31 0001393781 us-gaap:PreferredStockMember 2024-12-31 0001393781 us-gaap:CommonStockMember 2024-12-31 0001393781 us-gaap:NoncontrollingInterestMember 2024-12-31 0001393781 us-gaap:AdditionalPaidInCapitalMember 2024-12-31 0001393781 us-gaap:RetainedEarningsMember 2024-12-31 0001393781 us-gaap:PreferredStockMember 2023-12-31 0001393781 us-gaap:CommonStockMember 2023-12-31 0001393781 us-gaap:AdditionalPaidInCapitalMember 2023-12-31 0001393781 us-gaap:NoncontrollingInterestMember 2023-12-31 0001393781 us-gaap:RetainedEarningsMember 2023-12-31 0001393781 2023-12-31 0001393781 us-gaap:PreferredStockMember us-gaap:SeriesAPreferredStockMember 2025-01-01 2025-03-31 0001393781 us-gaap:PreferredStockMember us-gaap:SeriesBPreferredStockMember 2025-01-01 2025-03-31 0001393781 us-gaap:PreferredStockMember 2025-01-01 2025-03-31 0001393781 us-gaap:CommonStockMember 2025-01-01 2025-03-31 0001393781 us-gaap:NoncontrollingInterestMember 2025-01-01 2025-03-31 0001393781 us-gaap:AdditionalPaidInCapitalMember 2025-01-01 2025-03-31 0001393781 us-gaap:RetainedEarningsMember 2025-01-01 2025-03-31 0001393781 us-gaap:PreferredStockMember 2024-01-01 2024-03-31 0001393781 us-gaap:CommonStockMember 2024-01-01 2024-03-31 0001393781 us-gaap:AdditionalPaidInCapitalMember 2024-01-01 2024-03-31 0001393781 us-gaap:NoncontrollingInterestMember 2024-01-01 2024-03-31 0001393781 us-gaap:RetainedEarningsMember 2024-01-01 2024-03-31 0001393781 us-gaap:PreferredStockMember us-gaap:SeriesAPreferredStockMember 2025-03-31 0001393781 us-gaap:PreferredStockMember us-gaap:SeriesBPreferredStockMember 2025-03-31 0001393781 us-gaap:PreferredStockMember 2025-03-31 0001393781 us-gaap:CommonStockMember 2025-03-31 0001393781 us-gaap:NoncontrollingInterestMember 2025-03-31 0001393781 us-gaap:AdditionalPaidInCapitalMember 2025-03-31 0001393781 us-gaap:RetainedEarningsMember 2025-03-31 0001393781 us-gaap:PreferredStockMember 2024-03-31 0001393781 us-gaap:CommonStockMember 2024-03-31 0001393781 us-gaap:AdditionalPaidInCapitalMember 2024-03-31 0001393781 us-gaap:NoncontrollingInterestMember 2024-03-31 0001393781 us-gaap:RetainedEarningsMember 2024-03-31 0001393781 2024-03-31 0001393781 QIND:IlustratoPricturesInternationalMember 2022-05-28 2022-05-28 0001393781 2024-05-23 2024-05-23 0001393781 QIND:StockPurchaseAgreementMember 2024-11-18 0001393781 us-gaap:SeriesBPreferredStockMember QIND:StockPurchaseAgreementMember 2024-11-18 0001393781 QIND:StockPurchaseAgreementMember 2024-11-18 2024-11-18 0001393781 us-gaap:CommonClassAMember QIND:StockPurchaseAgreementMember 2024-11-18 0001393781 srt:MinimumMember us-gaap:MachineryAndEquipmentMember 2025-03-31 0001393781 srt:MaximumMember us-gaap:MachineryAndEquipmentMember 2025-03-31 0001393781 srt:MinimumMember us-gaap:VehiclesMember 2025-03-31 0001393781 srt:MaximumMember us-gaap:VehiclesMember 2025-03-31 0001393781 srt:MinimumMember us-gaap:FurnitureAndFixturesMember 2025-03-31 0001393781 srt:MaximumMember us-gaap:FurnitureAndFixturesMember 2025-03-31 0001393781 2024-01-01 2024-01-01 0001393781 QIND:AdvanceForPurchasesOfTruckMember QIND:QINDAdvancesMember 2025-03-31 0001393781 QIND:AdvanceForPurchasesOfTruckMember QIND:QINDAdvancesMember 2024-12-31 0001393781 QIND:PrepaidBonusNicolasLinkMember QIND:QINDAdvancesMember 2025-03-31 0001393781 QIND:PrepaidBonusNicolasLinkMember QIND:QINDAdvancesMember 2024-12-31 0001393781 QIND:PrepaidBonusLouiseBennettMember QIND:QINDAdvancesMember 2025-03-31 0001393781 QIND:PrepaidBonusLouiseBennettMember QIND:QINDAdvancesMember 2024-12-31 0001393781 QIND:QINDAdvancesMember 2025-03-31 0001393781 QIND:QINDAdvancesMember 2024-12-31 0001393781 QIND:ProjectJobRefundableSecurityDepositAgainstProjectPerformancesMember QIND:AISholaGasAdvancesMember 2025-03-31 0001393781 QIND:ProjectJobRefundableSecurityDepositAgainstProjectPerformancesMember QIND:AISholaGasAdvancesMember 2024-12-31 0001393781 QIND:DEWAOfficetMember QIND:AISholaGasAdvancesMember 2025-03-31 0001393781 QIND:DEWAOfficetMember QIND:AISholaGasAdvancesMember 2024-12-31 0001393781 QIND:EmaratGeneralPetroleumCorporationLLCMember QIND:AISholaGasAdvancesMember 2025-03-31 0001393781 QIND:EmaratGeneralPetroleumCorporationLLCMember QIND:AISholaGasAdvancesMember 2024-12-31 0001393781 QIND:WASLLandMember QIND:AISholaGasAdvancesMember 2025-03-31 0001393781 QIND:WASLLandMember QIND:AISholaGasAdvancesMember 2024-12-31 0001393781 QIND:DubaiPropertiesMember QIND:AISholaGasAdvancesMember 2025-03-31 0001393781 QIND:DubaiPropertiesMember QIND:AISholaGasAdvancesMember 2024-12-31 0001393781 QIND:DubaiRealEstateCorporationMember QIND:AISholaGasAdvancesMember 2025-03-31 0001393781 QIND:DubaiRealEstateCorporationMember QIND:AISholaGasAdvancesMember 2024-12-31 0001393781 QIND:DIRELandMember QIND:AISholaGasAdvancesMember 2025-03-31 0001393781 QIND:DIRELandMember QIND:AISholaGasAdvancesMember 2024-12-31 0001393781 QIND:EmiratesGasLLCMember QIND:AISholaGasAdvancesMember 2025-03-31 0001393781 QIND:EmiratesGasLLCMember QIND:AISholaGasAdvancesMember 2024-12-31 0001393781 QIND:EnergyTechMember QIND:AISholaGasAdvancesMember 2025-03-31 0001393781 QIND:EnergyTechMember QIND:AISholaGasAdvancesMember 2024-12-31 0001393781 QIND:AISholaGasAdvancesMember 2025-03-31 0001393781 QIND:AISholaGasAdvancesMember 2024-12-31 0001393781 QIND:HamsahOfficeRentMember 2025-03-31 0001393781 QIND:HamsahOfficeRentMember 2024-03-31 0001393781 QIND:StoreRentMember 2025-03-31 0001393781 QIND:StoreRentMember 2024-03-31 0001393781 QIND:InsuranceMember 2025-03-31 0001393781 QIND:InsuranceMember 2024-03-31 0001393781 QIND:AccomadationRentMember 2025-03-31 0001393781 QIND:AccomadationRentMember 2024-03-31 0001393781 QIND:DCDLicenseMember 2025-03-31 0001393781 QIND:DCDLicenseMember 2024-03-31 0001393781 QIND:TradeLicenseMember 2025-03-31 0001393781 QIND:TradeLicenseMember 2024-03-31 0001393781 QIND:VisaCostMember 2025-03-31 0001393781 QIND:VisaCostMember 2024-03-31 0001393781 QIND:AiwaEnergyMember 2025-03-31 0001393781 QIND:AiwaEnergyMember 2024-03-31 0001393781 QIND:AikoMallMember 2025-03-31 0001393781 QIND:AikoMallMember 2024-03-31 0001393781 QIND:AswaaqShoppingMallMember 2025-03-31 0001393781 QIND:AswaaqShoppingMallMember 2024-03-31 0001393781 2024-01-01 2024-12-31 0001393781 QIND:CommonSharesMember 2025-01-01 2025-03-31 0001393781 QIND:CommonSharesMember 2024-01-01 2024-03-31 0001393781 QIND:AlSholaGasMember 2023-08-25 2023-08-25 0001393781 2023-08-25 2023-08-25 0001393781 QIND:AgeingAlSholaGasMember QIND:OneToThirtyDaysMember 2025-03-31 0001393781 QIND:AgeingAlSholaGasMember QIND:OneToThirtyDaysMember 2024-12-31 0001393781 QIND:AgeingAlSholaGasMember QIND:ThirtyOneToSixtyDaysMember 2025-03-31 0001393781 QIND:AgeingAlSholaGasMember QIND:ThirtyOneToSixtyDaysMember 2024-12-31 0001393781 QIND:AgeingAlSholaGasMember QIND:SixtyOneToNinetyDaysMember 2025-03-31 0001393781 QIND:AgeingAlSholaGasMember QIND:SixtyOneToNinetyDaysMember 2024-12-31 0001393781 QIND:AgeingAlSholaGasMember QIND:AboveNinetyDaysMember 2025-03-31 0001393781 QIND:AgeingAlSholaGasMember QIND:AboveNinetyDaysMember 2024-12-31 0001393781 QIND:AgeingAlSholaGasMember 2025-03-31 0001393781 QIND:AgeingAlSholaGasMember 2024-12-31 0001393781 QIND:IlustratoPicturesInternationalIncMember 2025-03-31 0001393781 QIND:IlustratoPicturesInternationalIncMember 2024-12-31 0001393781 QIND:IntercompanyLoanAgreementMember 2024-01-01 2024-12-31 0001393781 QIND:IntercompanyLoanAgreementMember 2025-01-01 2025-03-31 0001393781 srt:MaximumMember 2025-01-01 2025-03-31 0001393781 QIND:SimpleInterestMember 2025-01-01 2025-03-31 0001393781 QIND:SimpleInterestMember 2025-03-31 0001393781 QIND:PrepaidBonusNicolasLinkMember 2025-03-31 0001393781 QIND:PrepaidBonusNicolasLinkMember 2024-12-31 0001393781 QIND:PrepaidBonusLouiseBennettMember 2025-03-31 0001393781 QIND:PrepaidBonusLouiseBennettMember 2024-12-31 0001393781 2024-03-27 2024-03-27 0001393781 2024-03-27 0001393781 QIND:MahavirInvestmentsLimitedMember 2024-03-27 0001393781 us-gaap:GoodwillMember 2024-03-27 0001393781 us-gaap:GoodwillMember 2024-03-31 0001393781 us-gaap:GoodwillMember 2024-01-01 2024-03-31 0001393781 QIND:AlSholaGasMember 2025-01-01 2025-03-31 0001393781 us-gaap:GoodwillMember 2025-03-31 0001393781 QIND:QualityIndustrialCorpMember 2025-03-31 0001393781 QIND:AlSholaGasMember 2025-03-31 0001393781 QIND:QualityIndustrialCorpMember 2024-12-31 0001393781 QIND:AlSholaGasMember 2024-12-31 0001393781 2024-11-18 2024-11-18 0001393781 QIND:RBCapitalPartnersIncMember 2022-08-03 0001393781 QIND:RBCapitalPartnersIncMember 2023-03-17 0001393781 QIND:JeffersonStreetCapitalLLCMember 2023-05-23 0001393781 QIND:JeffersonStreetCapitalLLCMember 2024-04-01 2024-09-30 0001393781 QIND:SkyHoldingsLtdMember 2023-06-16 0001393781 QIND:SkyHoldingsLtdMember 2024-05-16 0001393781 QIND:RBCapitalPartnersIncMember 2023-12-20 0001393781 QIND:SeanLeviMember 2023-12-20 0001393781 QIND:SeanLeviMember 2023-12-20 2023-12-20 0001393781 QIND:ExchangeListingLLCMember 2024-02-06 0001393781 QIND:JeffersonStreetCapitalLLCMember 2024-05-21 0001393781 QIND:JeffersonStreetCapitalLLCMember 2024-05-21 2024-05-21 0001393781 QIND:JJAstorAndCoMember 2024-09-25 0001393781 QIND:JJAstorAndCoMember 2024-09-25 2024-09-25 0001393781 QIND:DiagonalLendingNoteMember 2024-09-25 0001393781 QIND:DiagonalLendingNoteMember 2024-09-25 2024-09-25 0001393781 2023-04-19 2023-04-19 0001393781 2023-04-19 0001393781 2023-05-23 2023-05-23 0001393781 2023-05-23 0001393781 QIND:OneToThirtyDaysMember 2025-03-31 0001393781 QIND:OneToThirtyDaysMember 2024-12-31 0001393781 QIND:ThirtyOneToSixtyDaysMember 2025-03-31 0001393781 QIND:ThirtyOneToSixtyDaysMember 2024-12-31 0001393781 QIND:SixtyOneToNinetyDaysMember 2025-03-31 0001393781 QIND:SixtyOneToNinetyDaysMember 2024-12-31 0001393781 QIND:AboveNinetyDaysMember 2025-03-31 0001393781 QIND:AboveNinetyDaysMember 2024-12-31 0001393781 QIND:RBCapitalPartnersIncMember us-gaap:ConvertibleNotesPayableMember 2025-01-01 2025-03-31 0001393781 QIND:RBCapitalPartnersIncMember us-gaap:ConvertibleNotesPayableMember 2025-03-31 0001393781 QIND:RBCapitalPartnersIncOneMember us-gaap:ConvertibleNotesPayableMember 2025-01-01 2025-03-31 0001393781 QIND:RBCapitalPartnersIncOneMember us-gaap:ConvertibleNotesPayableMember 2025-03-31 0001393781 QIND:SkyHoldingsMember us-gaap:ConvertibleNotesPayableMember 2025-01-01 2025-03-31 0001393781 QIND:SkyHoldingsMember us-gaap:ConvertibleNotesPayableMember 2025-03-31 0001393781 QIND:RBCapitalPartnersIncTwoMember us-gaap:ConvertibleNotesPayableMember 2025-01-01 2025-03-31 0001393781 QIND:RBCapitalPartnersIncTwoMember us-gaap:ConvertibleNotesPayableMember 2025-03-31 0001393781 QIND:SeanLeviMember us-gaap:ConvertibleNotesPayableMember 2025-01-01 2025-03-31 0001393781 QIND:SeanLeviMember us-gaap:ConvertibleNotesPayableMember 2025-03-31 0001393781 QIND:ExchangeListingLLCMember us-gaap:ConvertibleNotesPayableMember 2025-01-01 2025-03-31 0001393781 QIND:ExchangeListingLLCMember us-gaap:ConvertibleNotesPayableMember 2025-03-31 0001393781 QIND:JeffersonTwoMember us-gaap:ConvertibleNotesPayableMember 2025-01-01 2025-03-31 0001393781 QIND:JeffersonTwoMember us-gaap:ConvertibleNotesPayableMember 2025-03-31 0001393781 QIND:OneEightZeroZeroDiagonalLendingLtdMember us-gaap:ConvertibleNotesPayableMember 2025-01-01 2025-03-31 0001393781 QIND:OneEightZeroZeroDiagonalLendingLtdMember us-gaap:ConvertibleNotesPayableMember 2025-03-31 0001393781 QIND:ThousandEightHundredDiagonalLendingOneMember us-gaap:ConvertibleNotesPayableMember 2025-01-01 2025-03-31 0001393781 QIND:ThousandEightHundredDiagonalLendingOneMember us-gaap:ConvertibleNotesPayableMember 2025-03-31 0001393781 QIND:JJAstorCoMember us-gaap:ConvertibleNotesPayableMember 2025-01-01 2025-03-31 0001393781 QIND:JJAstorCoMember us-gaap:ConvertibleNotesPayableMember 2025-03-31 0001393781 us-gaap:ConvertibleNotesPayableMember 2025-01-01 2025-03-31 0001393781 us-gaap:ConvertibleNotesPayableMember 2025-03-31 0001393781 QIND:OneThousandEightHundredDiagonalLendingLtdOneMember us-gaap:ConvertibleNotesPayableMember 2025-01-01 2025-03-31 0001393781 QIND:OneThousandEightHundredDiagonalLendingLtdTwoMember us-gaap:ConvertibleNotesPayableMember 2025-01-01 2025-03-31 0001393781 QIND:JeffersonThreeMember us-gaap:ConvertibleNotesPayableMember 2025-01-01 2025-03-31 0001393781 QIND:JJAstorCoOneMember us-gaap:ConvertibleNotesPayableMember 2025-01-01 2025-03-31 0001393781 QIND:OneThousandEightHundredDiagonalLendingLtdThreeMember us-gaap:ConvertibleNotesPayableMember 2025-01-01 2025-03-31 0001393781 QIND:OneThousandEightHundredDiagonalLendingLtdFourMember us-gaap:ConvertibleNotesPayableMember 2025-01-01 2025-03-31 0001393781 QIND:JeffersonCapitalJCMember us-gaap:ConvertibleNotesPayableMember 2025-01-01 2025-03-31 0001393781 QIND:PayableToShareholdersAlSholaGasMember 2025-03-31 0001393781 QIND:PayableToShareholdersAlSholaGasMember 2024-12-31 0001393781 QIND:CCOExpensesPayableMember 2025-03-31 0001393781 QIND:CCOExpensesPayableMember 2024-12-31 0001393781 QIND:BankBorrowingsMember 2025-03-31 0001393781 QIND:BankBorrowingsMember 2024-12-31 0001393781 QIND:AlSholaGasMember 2025-01-01 2025-03-31 0001393781 QIND:AlSholaGasMember 2025-03-31 0001393781 QIND:AlSholaGasMember 2024-03-27 2024-03-27 0001393781 QIND:AlSholaGasMember 2024-03-27 0001393781 QIND:DUSTERMember 2025-03-31 0001393781 QIND:XTRAILMember 2025-03-31 0001393781 QIND:KICKSMember 2025-03-31 0001393781 QIND:URWANMember 2025-03-31 0001393781 QIND:MICROBUSMember 2025-03-31 0001393781 QIND:SUNNYMember 2025-03-31 0001393781 QIND:ASXMember 2025-03-31 0001393781 QIND:YARISMember 2025-03-31 0001393781 QIND:KICKSNEWMember 2025-03-31 0001393781 QIND:RENAULTMember 2025-03-31 0001393781 QIND:BankBorrowingsCurrentMember 2025-03-31 0001393781 QIND:BankBorrowingsCurrentMember 2024-12-31 0001393781 us-gaap:SeriesAPreferredStockMember 2025-03-31 0001393781 us-gaap:SeriesAPreferredStockMember 2024-03-31 0001393781 us-gaap:SeriesBPreferredStockMember 2024-03-31 0001393781 QIND:JeffersonStreetCapitalLLCMember 2024-01-11 2024-01-11 0001393781 QIND:JeffersonStreetCapitalLLCMember 2024-01-19 2024-01-19 0001393781 QIND:JeffersonStreetCapitalLLCMember 2024-02-15 2024-02-15 0001393781 2025-01-10 2025-01-10 0001393781 2025-01-13 2025-01-13 0001393781 2025-01-17 2025-01-17 0001393781 2025-01-27 2025-01-27 0001393781 2025-01-29 2025-01-29 0001393781 2025-01-30 2025-01-30 0001393781 2025-02-03 2025-02-03 0001393781 2025-03-27 2025-03-27 0001393781 QIND:QualityIndustrialCorpMember 2025-01-01 2025-03-31 0001393781 QIND:QualityIndustrialCorpMember 2024-01-01 2024-03-31 0001393781 QIND:AlSholaAlModeaGasLLCMember 2025-01-01 2025-03-31 0001393781 QIND:AlSholaAlModeaGasLLCMember 2024-01-01 2024-03-31 0001393781 QIND:AlSholaGasMember 2024-03-27 0001393781 2023-01-01 2023-12-31 0001393781 QIND:AlSholaGasMember 2023-01-01 2023-03-31 0001393781 QIND:TrancheOneMember 2024-03-27 2024-03-27 0001393781 QIND:TrancheTwoMember 2024-03-27 2024-03-27 0001393781 QIND:AlSholaGasMember 2024-01-01 2024-03-31 0001393781 us-gaap:SubsequentEventMember 2025-04-27 2025-04-27 0001393781 us-gaap:SubsequentEventMember 2025-04-30 2025-04-30 0001393781 us-gaap:SubsequentEventMember 2025-05-01 2025-05-01 0001393781 us-gaap:SubsequentEventMember 2025-05-06 2025-05-06 0001393781 QIND:JeffersonStreetCapitalLLCMember us-gaap:SubsequentEventMember 2025-05-06 2025-05-06 0001393781 QIND:JeffersonStreetCapitalLLCMember us-gaap:SubsequentEventMember QIND:ConvertibleMember 2025-05-06 2025-05-06 0001393781 QIND:JeffersonStreetCapitalLLCMember us-gaap:SubsequentEventMember 2025-05-06 0001393781 us-gaap:SubsequentEventMember 2025-05-13 2025-05-13 iso4217:USD xbrli:shares iso4217:USD xbrli:shares iso4217:AED xbrli:pure

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 10-Q

☒ Quarterly Report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

For the quarterly period ended ~~September~~March 3031, ~~2024~~ 2025

☐ Transition Report pursuant to 13 or 15(d) of the Securities Exchange Act of 1934

For the transition period from __________ to__________

Commission File Number: 000-56239

Quality Industrial Corp.

(Exact name of registrant as specified in its charter)

Nevada		35-2675388
(State or other jurisdiction of incorporation or organization)		(IRS Employer Identification No.)

~~315~~ 505 Montgomery Street

San Francisco, CA 94104

(Address of principal executive offices)

800-706-0806

(Registrant’s telephone number)

(Former name, former address, and former fiscal year, if changed since last report)

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. ☒ Yes ☐ No

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). ☒ Yes ☐ No

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company, or an emerging growth company.

	☐ Large accelerated filer	☐ Accelerated filer
	☒ Non-accelerated filer	☒ Smaller reporting company
		☒ Emerging growth company

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). ☐ Yes ☒ No

Securities registered pursuant to Section 12(b) of the Act: None

State the number of shares outstanding of each of the issuer’s classes of common stock, as of the latest practicable date: ~~121~~160,~~751~~860,~~901~~ 821 common shares as of ~~November~~June 184, ~~2024~~2025.

TABLE OF CONTENTS

		Page
PART I – FINANCIAL INFORMATION
Item 1:	Financial Statements	1
Item 2:	Management’s Discussion and Analysis of Financial Condition and Results of Operations	2
Item 3:	Quantitative and Qualitative Disclosures About Market Risk	76
Item 4:	Controls and Procedures	76
PART II – OTHER INFORMATION
Item 1:	Legal Proceedings	87
Item 1A:	Risk Factors	87
Item 2:	Unregistered Sales of Equity Securities and Use of Proceeds	87
Item 3:	Defaults Upon Senior Securities	87
Item 4:	Mine Safety Disclosures	87
Item 5:	Other Information	87
Item 6:	Exhibits	87

PART I - FINANCIAL INFORMATION

Item 1. Financial Statements

Our financial statements included in this Form 10-Q are as follows:

F-1		Consolidated Balance Sheets as of ~~September~~March 3031, ~~2024~~2025 (Unaudited) and December 31, ~~2023~~2024 (Audited);
F-2		Consolidated Statements of Operations for the three ~~and Nine~~ months ended ~~September~~March 3031, ~~2024~~2025, and ~~2023~~2024 (Unaudited);
F-3		Consolidated Statement of Stockholders’ Equity (Deficit) for the three ~~and Nine~~ months ended ~~September~~March 3031, ~~2024~~2025, and ~~2023~~2024 (Unaudited);
F-4		Consolidated Statements of Cash Flows for the ~~Nine~~Three months ended ~~September~~March 3031, ~~2024~~2025, and ~~2023~~2024 (Unaudited); and
F-5		Notes to Consolidated Financial Statements (Unaudited).

QUALITY INDUSTRIAL CORP.

CONSOLIDATED BALANCE SHEETS

(UNAUDITED)

	September 30, 2024 Unaudited			December 31, 2023 Audited
	March 31, 2025			December 31, 2024
	Unaudited			Audited
ASSETS
Current Assets
Cash & Cash Equivalents	$	221,627		$	2,492
Cash and Cash Equivalents	$	360,414		$	225,582
Inventory		1,~~112~~083,~~230~~574			-1,224,309
Accounts Receivable		23,~~347~~088,~~060~~299			-3,205,961
Deposits, Advances & Prepayments		665,898			-
Deposits, Prepayments & Advances		1,062,378			810,765
Other Current Assets		2,000,000			2,000,000
Total Current Assets		67,~~346~~594,~~815~~665			27,~~002~~466,~~492~~617
Non-Current Assets
Related Party Receivables		1,943,472			333,133
Property, Plant and Equipment		29,182			49,115
Long Term Investments		-			6,500,000
Right-of-Use assets		182,387			202,680
Property, Plant and Equipment		67,200			-
Related Party Receivables		2,086,001			1,979,772
Right-of-Use assets		224,040			-
Goodwill		8,411,100			8,411,100
Goodwill		8,479,222			-
Total Non-current Assets		10,708,670			10,642,667
Total Non-current Assets		10,713,934			6,833,133
Total Assets	$	18,303,335		$	18,109,284
Total Assets		17,060,749			8,835,625
LIABILITIES AND STOCKHOLDERS’ DEFICIT
Current Liabilities
Accounts Payable	$	1,~~124~~693,~~987~~872		$	~~166~~2,~~577~~116,876
		-			-
Related Party Payables		862,237			-
Operating Lease Liabilities		69,490			-
Lease Operating Liabilities		82,580			80,950
Convertible Notes, net of discount		2,~~625~~539,~~922~~335			2,~~310~~584,~~109~~054
Other Payables - Current		5,753,149			5,379,554
Other payables - current		5,462,142			5,777,920
Other Current Liabilities		~~549~~1,~~586~~983,560			~~235~~803,~~886~~812
Total Current Liabilities		1012,~~123~~623,~~134~~726			811,~~092~~363,~~126~~612
Non-Current Liabilities
Operating Lease Liabilities – Non-Current Portion		163,731			-
Lease Operating Non-Current Portion		111,474			132,741
Other Payables – Long-term		4,820,706			-
Other payables – long-term		4,601,923			4,616,039
Total Long-Term Liabilities		4,~~984~~713,~~437~~397			04,748,780
Total Liabilities		1517,~~107~~337,~~571~~123			816,~~092~~112,~~126~~392
Stockholders’ Equity
Preferred stock; $0.001 par value; 1,000,000 shares authorized; 20,000 and 0 shares issued and outstanding as of as of September 30, 2024, and December 31, 2023, respectively		20			-
Preferred stock; $0.001 par value; 1,000,000 shares authorized; 20,000 and 20,000 Series B shares issued and outstanding as of as of March 31, 2025, and December 31, 2024, respectively		20			20
Common stock; $0.001 par value; 200,000,000 shares authorized; 119,659,784 and 127,129,694 shares issued and outstanding as of September 30, 2024, and December 31, 2023, respectively		119,662			127,132
Common stock; $0.001 par value; 200,000,000 shares authorized; 140,429,681 and 126,642,689 shares issued and outstanding as of March 31, 2025, and December 31, 2024, respectively		140,432			126,645
Additional paid-in capital		1718,~~889~~262,~~959~~050			1718,~~248~~046,~~964~~911
Accumulated Deficit		(16,787,119	)		(16,632,597	)
Retained Earnings/ accumulated Deficit		(18,632,759	)		(17,226,549	)
Noncontrolling interest		~~730~~1,~~656~~196,469			-1,049,865
Total stockholders’ Equity		1966,~~953,178~~212			~~743~~1,~~499~~996,892
Total liabilities and stockholders’ Equity	$	1718,~~060~~303,~~749~~335		$	818,~~835~~109,~~625~~284

The accompanying notes are an integral part of these unaudited consolidated financial statements.

F-1

QUALITY INDUSTRIAL CORP.

CONSOLIDATED STATEMENTS OF OPERATIONS

(UNAUDITED)

	For the Three Months Ended						~~For the Nine Months Ended~~
	30-Sep-24 Unaudited			30-Sep-23 Unaudited			30-Sep-24 Unaudited			30-Sep-23 Unaudited
	31-March-25 Unaudited			31-March-24 Unaudited
Revenue	$	23,~~662~~621,~~050~~473			-		$	~~5,979,256~~		$
Cost of revenues		12,~~581~~666,~~288~~087			-			~~3,649,996~~			-
Gross profit		1955,~~080,762~~386			-			~~2,329,260~~			-
Operating expenses
Professional fees		~~205~~51,~~815~~840			~~130~~48,~~708~~393			~~288,386~~			~~243,069~~
General and administrative		~~981~~1,~~768~~850,668			132,~~679,225~~856			~~1,810,376~~			~~3,188,383~~
Total operating expenses		1,~~187~~902,~~583~~508			181,~~809,933~~249			~~2,098,762~~			~~3,431,452~~
Income (loss) from operations		(~~106~~947,~~821~~122	)		(181,~~809,933~~249	)		~~230,498~~			~~(3,431,452~~	)
Other (income) expenses
Interest expense		140,833			129,336			306,684			174,574
Interest Expenses		32,241			-
Other Income					0			(427,554	)		0
Interest on Convertible Notes		188,539			66,199
Total other (income) expense, net		140,833			129,336			(120,870	)		174,574
Commitment and Conversion Fees		12,000			4,500
Net Income (Loss) before Provision of Income Tax		(247,654	)		(1,939,269	)		351,368			(3,606,026	)
Discount on Convertible notes		52,638			20,916
Corporate Income Tax		36,096			0			79,985			0
Other Income		-			(379,554	)
Net Income (Loss)		(283,750	)		(1,939,269	)		271,383			(3,606,026	)
Total other (income) expense, net		285,418			(287,939	)
Less: net income attributable to noncontrolling interest		185,357			-			425,905			-
Net Income (Loss) before Provision of Income Tax		(1,232,540	)		206,690
Net income (loss) attributable to QIND stockholders	$	(469,107	)		(1,939,269	)	$	(154,522	)		(3,606,026	)
Corporate Income Tax		27,066			-
Weighted average common shares outstanding		130,785,139			118,283,503			130,785,139			118,283,503
Net Income (Loss)		(1,259,606	)		206,690
Net income (loss) per common share - basic and diluted	$	(0.00	)		(0.02	)		(0.00	)		(0.03	)
Less: net income attributable to noncontrolling interest		146,604			-
Net income (loss) attributable to QIND stockholders	$	(1,406,210	)		206,690
Weighted average common shares outstanding		135,477,908			127,759,628
Net income (loss) per common share - basic and diluted	$	(0.01	)		0.00

The accompanying notes are an integral part of these unaudited consolidated financial statements.

F-2

QUALITY INDUSTRIAL CORP.

CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ DEFICIT

(UNAUDITED)

For the ~~Nine~~Three Months Ended ~~September~~March 3031, ~~2024~~2025

	Preferred Stock				Common Stock						Additional Paid-in			Minority			Accumulated			Total Stockholders’
	Preferred Stock A				Preferred Stock B						Common Stock						Minority Interest								Additional Paid-in Capital		Retain Loss	Total Equity
	Shares		Amount		Shares			Amount			~~Capital~~Shares			~~Interest~~Amount			~~Deficit~~Shares			~~Equity~~			Amount		Amount		Amount	Amount
Balance, December 31, 2023		—		—		127,129,694			127,132			17,248,964						(16,632,597	)		743,499
Balance, December 31, 2024		-		-		20,000			20	-		126,642,689			126,645			-						1,049,865		18,046,911	(17,226,549)	1,996,892
Common stock issued for conversion of notes		—		—		896,809			897			48,603			—						49,500
Issued shares from conversion of convertible note		-		-		-			-	-		13,786,992			13,787			-						-		215,139	-	228,926
Minority Interest		—-		—-		—-			—-	-		—-			~~1,464,816~~-			—-			~~1,464,816~~			-		-	-	-
Net Income		—		—		—			—			—			0			206,690			206,690
Income for the period		-		-		-			-	-		-			-			-						146,604		-	(1,406,210)	(1,259,606)
Balance, March 31, 2024		—		—		128,026,503			128,029			17,297,567			1,464,816			(16,425,907	)		2,464,505
Balance March 31, 2025		-		-		20,000			20	-		140,429,681			140,432			-						1,196,469		18,262,050	(18,632,759)	966,212
Common stock issued for services		—		—		650,000			650			48,975			—			—			49,625
Common stock issued as commitment fees		—		—		500,000			500			23,676			—			—			24,176
Common stock issued for conversion of notes and accrued interest		—		—		4,310,186			4,310			151,533			—			—			155,863
Cancellation of shares for transfer of assets		—		—		(480,000	)		(480	)		(47,520	)		—			—			(48,000	)
Minority Interest		—		—											(1,166,414	)					(1,166,414	)
Net Income		—		—											240,548			107,895			348,443
Balance, June 30, 2024						133,006,691			133,009			17,474,251			538,950			(16,318,012	)		1,828,198
Common stock issued for conversion of notes and accrued interest						2,653,093			2,653			116,229									118,882
Common stock cancelled						(20,000,000	)		(20,000	)											(20,000	)
Series B shares issued		20,000		20								19,980									20,000
Common stock issued as staff compensation						1,000,000			1,000			64,000									65,000
Common stock issued as commitment						2,500,000			2,500			185,000									187,500
Common stock issued for services						500,000			500			30,499									30,999
Minority Interest		—		—											6,349						6,349
Net Income		—		—											185,357			(469,107	)		(283,750	)
Balance, September 30, 2024		20,000		20		119,659,784			119,662			17,889,959			730,656			(16,787,119	)		1,953,178

For the ~~Nine~~Three Months Ended ~~September~~March 3031, ~~2023~~2024

	Preferred Stock				Common Stock				Additional Paid-in		Accumulated			Total Stockholders’
	Shares		Amount		Shares		Amount		Capital		Interest			Deficit			Equity
	Shares		Amount		Shares		Amount		Capital		Deficit			Equity
	Preferred Stock				Common Stock				Additional Paid-in		Minority			Accumulated			Total Stockholders’
Balance, December 31, 2022		—		—		102,883,709		102,886		12,174,975		(12,470,800	)		(192,939	)
	Shares		Amount		Shares		Amount		Capital		Interest			Deficit			Equity
Common stock issued for cash		—		—		—		—		—		—			—
Balance, December 31, 2023		-		-		127,129,694		127,132		17,319,899		-			(16,703,532	)		743,499
Imputed Interest		—		—		—		—		—		—			—
Balance		-		-		127,129,694		127,132		17,319,899		-			(16,703,532	)		743,499
Net Loss		—		—		—		—		—		(84,536	)		(84,536	)
Common stock issued for conversion of notes		-		-		896,809		897		48,603		-			-			49,500
Balance, March 31, 2023		—		—		102,883,709		102,886		12,174,975		(12,555,336	)		(277,475	)
Minority Interest												1,534,085						1,534,085
Common stock issued for services						1,693,256		1,693		721,042					722,735
Income for the period		-		-		-		-		-		-			206,690			206,690
Common stock issued as staff compensation						10,000,000		10,000		711,000					721,000
Balance, March 31, 2024		-		-		128,026,505		128,029		17,368,502		1,534,085			(16,496,842	)		2,533,774
Net Income												(1,582,221	)		(1,582,221	)
Balance		-		-		128,026,505		128,029		17,368,502		1,534,085			(16,496,842	)		2,533,774
Balance, June 30, 2023		—		—		114,576,965		114,579		13,607,017		(14,137,557	)		(415,961	)
Common stock issued for cash		—		—		6,410,971		6,411		1,993,589		—			2,000,000
Common stock issued for services		—		—		300,000		300		125,700		—			126,000
Common stock issued as staff compensation		—		—		5,600,000		5,600		1,506,400		—			1,512,000
Net Income												(1,939,269	)		(1,939,269	)
Balance, September 30, 2023		—		—		126,887,936		126,890		17,232,706		(16,076,826	)		1,282,770	)

The accompanying notes are an integral part of these unaudited consolidated financial statements.

F-3

QUALITY INDUSTRIAL CORP.

CONSOLIDATED STATEMENTS OF CASH FLOWS

(UNAUDITED)

	September 30, 2024			September 30, 2023
	March 31, 2025			March 31, 2024
Cash flows from operating activities
Loss for the period		271,383			(3,606,026	)
Income (Loss) for the period		(1,259,606	)		206,690
Adjustment to reconcile net gain (loss) to net cash
Finance cost		~~306~~220,~~684~~780			~~174~~66,~~574~~199
Non-Cash Stock Compensation Expense		0-			0-
Stock issued for Services		~~104,125~~-			0-
Amortization		0			0
Non-cash expenses		-			-
Commitment fees		0			847,192
Conversion fees		15,831			-
Corporate Income Tax Expense		7927,~~985~~066			0-
Depreciation-PPE		58,880			0
Depreciation and Amortization		40,228			-
Other income		~~(427,554~~-	)		0(379,554	)
Discount on convertible Notes		2452,~~723~~638			~~39,872~~-
Changes in Assets and Liabilities, net
Current Assets		(4,125,188	)		(347,081	)
Inventory		140,735			-
Other Current Liabilities		2,031,008			99,390
Accounts receivable		117,662			-
Net cash (used in) provided by operating activities		(1,675,954	)		(2,792,079	)
Deposits, Prepayments & Advances		(251,613	)		-
Related Party Receivables		(106,229	)		(103,853	)
Other Current Assets		-			(12,818	)
Accounts Payable		(423,004	)		711
Other Current Liabilities		1,110,333			51,765
Lease Liabilities		(19,637	)		-
Net cash used in operating activities		(334,816	)		(170,860	)
Cash flows from investing activities
Addition of Fixed Assets		~~(126,080~~-	)		0-
Right of use Assets		(224,040	)		0
Right of Use Assets		-			-
Changes in Non-current assets		~~(3,589,561~~-	)		~~(500,000~~-	)
Changes in Non-Current Liabilities		4,820,706			970,000
Payments to ASG Shareholders		(200,000	)		-
Net cash used in investing activities		881,025			470,000
Cash acquired in business acquisition		-			111,766
Net cash (used in)/provided by investing activities		(200,000	)		111,766
Cash flows from financing activities
Common Stock issued		(7,470	)		11,693
Proceeds from issuance of common stock		228,926			49,500
Lease Finance		163,731			0
Repayment/Conversion of Convertible Notes		(255,550	)		187,773
Preferred Stock Issued		20			0
Payment of Interest		(3,830	)		(66,199	)
Finance cost		(306,684	)		0
Related Party Loan		862,237			-
Discount on convertible Notes		0			0
Payment for ASG Debt		(162,135	)		-
Additional Paid-up Capital		640,995			1,432,042
Net Cash provided by Financing Activities		669,648			171,074
Changes in Retained Earnings & MI		523,472			880,487
Net increase in cash and cash		134,832			111,980
Note converted		0			0
equivalents
Net cash generated from financing activities		1,014,064			2,324,222
Cash and cash equivalents at the beginning of the year		225,582			2,491
Net increase/(decrease) in cash and cash equivalents		219,135			2,143
Cash and cash equivalents at end of the year		360,414			114,471
Cash and cash equivalents at the beginning of the period		2,492			3,136
Cash and cash equivalents at end of the period		221,627			5,279

The accompanying notes are an integral part of these unaudited consolidated financial statements.

F-4

QUALITY INDUSTRIAL CORP.

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)

NOTE 1: OUR HISTORY

The Company was incorporated in the state of Nevada under the name Sensor Technologies, Inc. on May 4, 1998. In March 2006 the Company changed its name to Bixby Energy Systems Inc. In September 2006, the Company changed its name to Power Play Development Corporation. In April 2007, the Company changed its name to National League of Poker, Inc. In October 2007 the Company changed its name back to Power Play ~~Development~~ Development Corporation. In October 2011 the Company changed its name to Bluestar Technologies, Inc. In March 2018, the Company then ~~changed~~ changed its name to Wikisoft Corp.

In May 2016, the Company’s Board of Directors terminated the services of all prior officers and directors and the board appointed Robert Stevens as the Board Appointed Receiver for the Company. This was a private receivership where the receiver was appointed by the board to act on behalf of the Company and no court filings were ever made in connection with the receivership. On April 16, 2019, in connection with the Merger described below, Robert Stevens resigned from all of his positions with the Company and the board-appointed receivership was concluded. At that time Rasmus Refer was appointed as the Company’s CEO and Director, and he resigned from such positions in August and November 2020, respectively. On August 31, 2020, Carsten Kjems Falk was appointed as CEO, and Paul C Quintal was on December 1, 2021, appointed as the sole director of the Company.

On April 11, 2019, the Company entered into an Agreement and Plan of Merger (the “Merger Agreement”) with WikiSoft Acquisition Corp., a Delaware corporation which was then the Company’s wholly owned subsidiary (“Merger Sub”) and WikiSoft Corp., a privately held Delaware corporation (“WikiSoft DE”). In connection with the closing of this merger transaction, Merger Sub merged with and into WikiSoft DE (the “Merger”) on April 24, 2019. Pursuant to the Merger, the Company acquired WikiSoft DE which then became its wholly owned subsidiary.

On March 19, 2020, the Company entered into an Agreement and Plan of Merger (the “Short Form Merger Agreement”) with WikiSoft DE, pursuant to which it was agreed that the Company would merge with and into WikiSoft DE, with the Company surviving. Thereafter, on March 25, 2020, WikiSoft DE merged with and into the Company, with the Company (i.e., WikiSoft Corp. - the NV corporation) surviving pursuant to a Certificate of Ownership and Merger filed in with Delaware Secretary of State, whereby the then wholly owned subsidiary (WikiSoft DE) merged with and into the Company, with the Company surviving. On March 25, 2020, the Company filed Articles of Conversion in Nevada, whereby the then subsidiary (WikiSoft DE) merged with and into the Company, with the Company surviving. Prior to the Merger, the Company did not have any business operations, and at the closing of the Merger, the Company’s business was as described in detail below.

~~Wikisoft Corp. had a vision to become one of the largest portals of information for businesses and business professionals. Built on open~~F-~~source software, the portal wikiprofile.com, was initially launched in January 2018, and the portal was relaunched in June 2021.~~5

~~We changed ownership on May 28,~~Wikisoft ~~2022,~~Corp. ~~when~~had ~~ILUS~~a atvision ~~the~~to ~~time,~~become ~~acquired~~one ~~77.4%~~ of the ~~outstanding~~largest ~~shares~~portals ~~in our Company. Consequently, ILUS is now able to unilaterally control the election~~ of ~~our~~information ~~board~~for ofbusinesses ~~directors, all matters upon which shareholder approval is required~~ and, ~~ultimately,~~business ~~the~~professionals. ~~direction~~Built ofon ~~our~~open-source ~~Company. Also~~software, ~~during~~ the ~~year,~~portal Mrwikiprofile. ~~Nicolas Link~~com, ~~beneficial owner of ILUS,~~ was ~~appointed~~initially aslaunched ~~our~~in ~~Executive~~January ~~Chairman of the Board~~2018, ~~Mr. John-Paul~~ ~~Backwell was appointed as our Chief Executive Officer~~ and ~~Mr. Carsten~~the ~~Falk~~portal ~~resigned as our Chief Executive Officer and~~ was ~~appointed~~relaunched asin ~~our~~June ~~Chief Commercial Officer~~2021.

InWe changed ~~line~~ownership ~~with~~on ~~the~~May ~~change~~28, ~~in control~~2022, ~~and~~when ~~business direction~~ILUS, ~~our~~at ~~Company~~the ~~changed~~time, ~~its~~acquired ~~name~~77.4% toof ~~Quality~~the ~~Industrial~~outstanding ~~Corp.~~shares ~~with~~in ~~the~~our ~~ticker~~Company. ~~QIND~~Consequently, ~~with~~ILUS was aable ~~market~~to ~~effective date~~unilaterally ofcontrol ~~August 4,~~the ~~2022.~~election Asof aour ~~result~~board of ~~these transactions~~directors, ~~Quality~~all ~~Industrial~~matters ~~Corp.~~upon iswhich ashareholder ~~public~~approval ~~company~~was ~~focused~~required, ~~on the industrial~~and, ~~oil &~~ultimately, ~~gas and utility sectors and a subsidiary to ILUS. The Company filed articles of merger with~~ the ~~Secretary~~direction of ~~State of Nevada in order to effectuate a merger with~~ our ~~wholly~~Company. ~~owned subsidiary~~Also, ~~Quality~~during ~~Industrial~~the ~~Corp~~year, Mr. ~~Shareholder~~Nicolas ~~approval~~Link, ~~was~~beneficial ~~not~~owner ~~required under Section 92A.180~~ of ~~the~~ILUS, ~~Nevada~~was ~~Revised~~appointed ~~Statutes.~~as Asour ~~part~~Executive Chairman of the ~~merger~~Board, ~~our~~Mr. ~~board~~John-Paul ofBackwell ~~directors~~was ~~authorized~~appointed aas ~~change in~~ our ~~name to~~Chief ~~“Quality~~Executive ~~Industrial~~Officer, ~~Corp.”~~ and ~~our~~Mr. ~~Articles~~Carsten ofFalk ~~Incorporation~~resigned ~~have~~as ~~been~~our ~~amended~~Chief Executive toOfficer ~~reflect~~and ~~this~~was ~~name~~appointed ~~change.~~as ~~Our~~our ~~common stock~~Chief ~~trades~~Commercial ~~under the symbol “QIND~~Officer.”

~~F-5~~In line with the change in control and business direction, our Company changed its name to Quality Industrial Corp. with the ticker QIND, with a market effective date of August 4, 2022. As a result of these transactions, Quality Industrial Corp. became a public company focused on the industrial, oil & gas and utility sectors. The Company filed articles of merger with the Secretary of State of Nevada in order to effectuate a merger with our wholly owned subsidiary, Quality Industrial Corp. Shareholder approval was not required under Section 92A.180 of the Nevada Revised Statutes. As part of the merger, our board of directors authorized a change in our name to “Quality Industrial Corp.” and our Articles of Incorporation have been amended to reflect this name change. Our common stock trades under the symbol “QIND.”

After ILUS acquired control of QIND, on May 28, 2022, ILUS signed a binding letter of intent on June 28, 2022, ~~for the Company~~ to acquire ~~control~~51% of Quality International, an international process manufacturing company, ~~manufacturing~~that manufactures custom solutions for the oil & and gas, petrochemical & and refinery, chemical & and fertilizer, power & and desalination, water & and wastewater, and offshore industries.

On March 9, 2023, we changed the SIC code of the Company to SIC 3590 - Misc. Industrial & Commercial Machinery and Equipment to reflect the new business direction.

On March 27, 2024, the Company signed a definitive Share Purchase Agreement with Al Shola Al Modea Gas LLC (“ASG”). orEstablished ~~the~~in ~~“ASG~~1980, ~~Acquisition”).~~ ASG is an Engineering and Distribution Company in the ~~LPG Industry in the~~ U.A.E. ~~and~~LPG ~~was established in 1980~~industry. ~~The~~It ~~company~~is ~~are~~ one of the leading suppliers &and contractors of LPG centralized pipeline systems. AlASG ~~Sholas gas LLC~~ has been consolidated since being acquired on March 27, 2024.

On April 1, 2024, after several failed effort negotiations with the purpose of restructuring the deal and obtaining information from the selling shareholders of Quality International, the QI Purchase Agreement with Quality International was terminated by Quality International and subsequently the Board of Directors of the Company approved the cancellation of the agreement with Quality International Co Ltd FZC signed on January 18, 2023, and amended on July 27, 2023. Quality International Co Ltd FZC is no longer consolidated with our financial statements.

~~NOTE~~On May 223, 2024, Quality Industrial Corp. ~~SUMMARY~~entered OFinto ~~SIGNIFICANT~~a ~~POLICIES~~binding term sheet with Actelis Networks, Inc, a Delaware corporation traded on the NASDAQ under the symbol ASNS, pursuant to which Actelis would acquire between 61% to 75% of the issued and outstanding shares of the Company’s share capital. We originally intended to close the transaction, pending regulatory requirements and due diligence, within 60 days. On August 30, 2024, we agreed to further extend the non-solicitation and no-shop periods provided in the Term Sheet until October 1, 2024, unless mutually terminated earlier by the parties. On October 10, 2024, ASNS provided the Company with written notice of ASNS’ intent to terminate the Term Sheet in accordance with the termination provisions thereof, which require a 30-day written notice of termination. The 30-day period ended, and the Term Sheet was definitively canceled on November 11, 2024.

~~Basis of Presentation and Principles of consolidation~~F-6

~~The~~On November ~~accompanying~~18, ~~consolidated financial~~2024, ~~statements~~Quality ~~represent~~Industrial ~~the~~Corp., ~~results~~a ofNevada ~~operations~~corporation, ~~financial~~Fusion ~~position~~Fuel Green PLC, ~~and~~an ~~cash~~Irish ~~flows~~public oflimited ~~QIND~~company, ~~and~~Ilustrato Pictures ~~all~~International Inc., a Nevada corporation, a stockholder of ~~its~~the ~~majority-owned~~Company, and certain other stockholders of the Company, ~~controlled~~entered ~~subsidiary~~into ~~are~~a ~~prepared~~Stock inPurchase ~~conformity~~Agreement, ~~with~~dated ~~generally~~as ~~accepted~~of ~~accounting~~November ~~principles~~18, in2024. Under the ~~United States~~Purchase Agreement, the Sellers transferred an aggregate of ~~America~~78,312,334 shares ~~(U.S. GAAP).~~of common stock and 20,000 ~~The~~shares ~~accounts~~of Series B Preferred Stock of ~~ASG~~the ~~have~~Company, ~~been~~constituting ~~included~~approximately ~~since~~67.36% of ~~acquired~~the onvoting ~~March~~stock 27of the Company at the time, ~~2024~~to Fusion Fuel Green PLC. ~~All~~Fusion ~~significant~~Fuel ~~inter-company~~issued ~~accounts~~3,818,969 Class A ordinary shares and 4,171,327 preferred shares to the Sellers. As a result of these transactions, ~~have been~~Quality ~~eliminated~~Industrial Corp. is a majority owned subsidiary of HTOO.

~~The accompanying unaudited~~NOTE condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America and the rules and regulations of the United States Securities and Exchange Commission (the “SEC”) for interim financial information2. ItSUMMARY isOF ~~management’s~~SIGNIFICANT opinion that the accompanying unaudited condensed consolidated financial statements are prepared in accordance with instructions for Form 10-Q and include all adjustments (consisting only of normal recurring accruals) which are necessary for a fair presentation of the results for the periods presented. Certain information and footnote disclosures normally included in the consolidated financial statements prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) have been condensed or omitted. It is suggested that these condensed consolidated financial statements be read in conjunction with the Annual Report on Form 10-K of Quality Industrial Corp. as of and for the year ended December 31, 2023, filed with the SEC on April 8, 2024. The results of operations for the Nine months ended September 30, 2024, are not necessarily indicative of the results to be expected for the full year or for future periods.POLICIES

~~Use~~Basis of Presentation and Principles of ~~estimates~~Consolidation

AThe accompanying ~~critical~~consolidated ~~accounting~~financial ~~estimate~~statements represent the results of operations, financial position, and cash flows of QIND and isits anmajority-owned ~~estimate~~and ~~that:~~controlled ~~(i) is~~subsidiary ~~made~~are prepared in ~~accordance~~conformity with generally accepted accounting principles, ~~(ii) involves~~in athe ~~significant level~~United States of ~~estimation~~America ~~uncertainty and~~ (~~iii~~U.S. GAAP) ~~has~~. ~~had~~The oraccounts isof ~~reasonably~~ASG ~~likely~~have tobeen ~~have~~included asince ~~material~~its ~~impact~~acquisition on ~~the~~March ~~Company’s~~27, ~~financial~~2024. ~~condition~~All significant orinter-company ~~results~~accounts ofand ~~operations~~transactions have been eliminated.

The accompanying ~~Company’s~~audited condensed consolidated financial statements have been prepared in accordance with ~~generally accepted~~ accounting principles generally accepted in the United States of America ~~(U.S. GAAP).~~ ~~The~~and ~~preparation~~the rules and regulations of ~~financial~~the ~~statements~~United inStates ~~accordance~~Securities ~~with~~and UExchange Commission (the “SEC”) for interim financial information.~~S. GAAP~~ ~~requires~~It is management’s toopinion ~~make~~that ~~estimates~~the ~~and judgments~~accompanying ~~that~~audited ~~affect~~condensed ~~reported~~consolidated ~~amounts~~financial ~~and~~statements are ~~related~~prepared ~~disclosures.~~in Onaccordance anwith ~~ongoing~~instructions ~~basis,~~for ~~management~~Form ~~evaluates~~10-Q and ~~updates~~include ~~its~~all ~~estimates.~~adjustments ~~Management employs~~(consisting ~~judgment~~only inof ~~making~~normal ~~its~~recurring ~~estimates~~accruals) which ~~but~~are ~~they~~necessary ~~are~~for ~~based~~a onfair ~~historical~~presentation ~~experience~~of ~~and~~the ~~currently~~results ~~available~~for the periods presented. Certain information and ~~various~~footnote ~~other~~disclosures normally ~~assumptions~~included ~~that~~in the ~~Company~~consolidated ~~believes~~financial tostatements beprepared ~~reasonable~~in ~~under~~accordance ~~the~~with ~~circumstances.~~accounting ~~The~~principles ~~results~~generally ofaccepted ~~these~~in ~~estimates~~the ~~form~~United States ~~the~~of ~~basis~~America ~~for~~(“U.S. ~~making judgments~~GAAP”) ~~about~~have ~~the~~been ~~carrying~~condensed ~~values~~or ofomitted. ~~assets~~It ~~and~~is ~~liabilities~~suggested that ~~are~~these ~~not~~condensed ~~readily~~consolidated ~~available~~financial statements ~~from~~be ~~other~~read ~~sources.~~in ~~Actual~~conjunction ~~results~~with ~~could differ~~the ~~from~~Annual ~~those~~Report ~~estimates.~~on ~~Management~~Form ~~believes~~10-K ~~that~~of ~~its~~Quality ~~judgment~~Industrial isCorp. ~~applied~~as ~~consistently~~of and ~~produces~~for ~~financial~~the ~~information~~year ~~that~~ended ~~fairly~~December ~~depicts~~31, ~~the~~2024, ~~results~~filed ofwith ~~operations~~the ~~for~~SEC ~~all~~on ~~periods~~April ~~presented~~28, 2025.

~~F-6~~Use of estimates

~~Significant estimates include~~A ~~estimates~~critical ~~used~~accounting toestimate ~~review~~is ~~the~~an ~~Company’s,~~estimate ~~impairments~~that: ~~and~~(i) ~~estimations~~is ofmade ~~long-lived~~in ~~assets,~~accordance ~~revenue~~with ~~recognition~~generally ofaccepted ~~contract-based revenue,~~accounting ~~allowances for uncollectible accounts~~principles, ~~and~~(ii) ~~the~~involves a ~~valuations~~significant level of ~~non-cash~~estimation ~~capital~~uncertainty ~~stock issuances. The Company bases its estimates on historical experience~~ and on(iii) ~~various~~has ~~other~~had ~~assumptions~~or ~~that~~is ~~are~~reasonably ~~believed~~likely to behave ~~reasonable~~a inmaterial ~~the~~impact ~~circumstances,~~on the ~~results of which~~Company’s ~~form~~financial ~~the~~condition ~~basis~~or ~~for~~results ~~making judgments about the carrying values~~ of ~~assets and liabilities that are not readily apparent from other sources~~operations. ~~Actual results may differ from these estimates under different assumptions or conditions.~~

~~Accounts receivable~~F-7

~~Accounts~~The Company’s ~~receivables~~Consolidated ~~are~~Financial ~~recorded at~~Statements ~~the~~have ~~invoice~~been ~~amount~~prepared ~~less~~in anaccordance ~~allowance~~with ~~for~~generally ~~credit~~accepted ~~losses~~accounting principles in the United States of America (U.S. GAAP). The ~~allowance~~preparation isof anfinancial ~~estimate~~statements ~~based~~in onaccordance ~~historical~~with ~~collection~~U.S. ~~experience,~~GAAP ~~current~~requires management to make estimates and ~~future~~judgments ~~economic~~that ~~and~~affect ~~market~~reported ~~conditions,~~amounts and arelated ~~review~~disclosures. ofOn ~~the~~an ~~current~~ongoing ~~status~~basis, ofmanagement ~~each~~evaluates ~~customer’s~~and ~~trade~~updates ~~accounts receivable~~its estimates. Management ~~evaluates~~ ~~the~~employs ~~aging~~judgment ofin ~~the~~making ~~accounts~~its ~~receivable~~estimates, ~~balances~~but ~~and~~they ~~the~~are ~~financial~~based ~~condition~~on ofhistorical ~~its~~experience, ~~customers~~currently available information, and ~~all~~various other ~~forward-looking~~assumptions ~~information~~ that isthe ~~reasonably~~Company ~~available~~believes toreasonable ~~estimate~~under the ~~amount~~circumstances. The results of ~~accounts~~these ~~receivable~~estimates form the basis for making judgments about the carrying values of assets and liabilities that ~~may~~are not bereadily ~~collected~~available infrom ~~the~~other ~~future~~sources. Actual results could differ from those estimates. Management believes that its judgment is applied consistently and ~~before~~produces ~~recording~~financial information that fairly depicts the ~~appropriate~~results ~~provision~~of operations for all periods presented.

~~The~~Significant estimates ~~duration~~include ofestimates ~~such~~used ~~receivables extends~~to ~~from~~review 30the ~~days~~Company’s toimpairments ~~beyond~~and 90estimations ~~days.~~of ~~Payments~~long-lived ~~are~~assets, ~~received~~revenue ~~only~~recognition of ~~when~~contract-based arevenue, ~~project~~allowances isfor ~~completed~~uncollectible accounts, and ~~approvals~~the ~~are~~valuations ~~obtained~~of non-cash capital stock issuances. ~~Provisions~~The ~~are~~Company ~~created~~bases ~~based~~its estimates on ~~the~~historical ~~estimated~~experience ~~irrecoverable~~and ~~amounts~~on ~~determined~~various byother ~~referring~~assumptions that are believed to ~~past~~be ~~default~~reasonable ~~experience~~in ~~and~~the circumstances, ~~future~~the ~~economic~~results of which form the basis for making judgments about the carrying values of assets and ~~market~~liabilities that are not readily apparent from other sources. Actual results may differ from these estimates under different assumptions or conditions.

~~Inventories~~Accounts receivable

InAccounts receivable ~~accordance~~are ~~with~~recorded ~~ASC 330,~~ at the ~~Company~~invoice ~~states~~amount ~~inventories~~less atan ~~the~~allowance ~~lower~~for ofcredit ~~cost~~losses. orThe ~~net~~allowance ~~realizable~~is ~~value.~~an ~~Cost,~~estimate ~~which~~based ~~includes~~on ~~material~~historical collection experience, ~~labor~~current and ~~overhead,~~future iseconomic ~~determined on~~and amarket ~~first-in~~conditions, ~~first-out~~and ~~basis.~~a ~~The~~review ~~Company~~of ~~makes~~the ~~adjustments~~current tostatus ~~reduce~~of each customer’s trade accounts receivable. Management evaluates the ~~cost~~aging of ~~inventory~~the toaccounts ~~its~~receivable ~~net~~balances ~~realizable~~and ~~value,~~the iffinancial ~~required,~~condition of its customers ~~for~~and ~~estimated~~all ~~excess,~~other ~~obsolete,~~forward-looking ~~zero~~information ~~usage~~that oris ~~impaired~~reasonably ~~balances.~~available ~~Factors~~to ~~influencing~~estimate ~~these~~the ~~adjustments~~amount ~~include~~of ~~changes~~accounts inreceivable ~~market~~that ~~demand,~~may not be ~~product~~collected ~~life~~in ~~cycle~~the future and ~~engineering~~before ~~changes~~recording the appropriate provision.

~~Property,~~The duration ~~Plant &~~of ~~Equipment~~such receivables extends from 30 days to beyond 90 days. Payments are received only when a project is completed and approvals are obtained. Provisions are created based on the estimated irrecoverable amounts determined by referring to past default experience and future economic and market conditions.

Property, Plant and Equipment are recorded at cost, except when acquired in a business combination where property, plant and equipment are recorded at fair value. Depreciation of property, plant and equipment is recognized over the estimated useful lives of the respective assets using the straight-line method. The estimated useful lives are as follows:Inventories

Property, Plant and Equipment		Years
Machinery		5 – 15
Vehicles		5 – 10
Furniture, Fixtures & Office Equipment		3 – 5

In accordance with ASC 330, the Company states inventories at the lower of cost or net realizable value. Cost, which includes material, labor, and overheads, is determined on a first-in, first-out basis. The Company makes adjustments to reduce the cost of inventory to its net realizable value, if required, for estimated excess, obsolete, zero usage, or impaired balances. Factors influencing these adjustments include changes in market demand, product life cycle and engineering changes.

~~Expenditures that extend the useful life of existing property~~Property, ~~plant and equipment are capitalized and depreciated over the remaining useful life of the related asset.~~ ~~Expenditures~~Plant ~~for~~& repairs and maintenance are expensed as incurred. When property, plant and equipment are retired or sold, the cost and related accumulated depreciation is removed from the Company’s balance sheet, with any gain or loss reflected in operations.Equipment

~~Depreciation~~Property, Plant ~~expense~~and ~~for~~Equipment ~~the three~~are ~~months~~recorded ~~ended~~at ~~September~~cost, 30except when acquired in a business combination, ~~2024~~where property, plant, and ~~2023~~equipment ~~was~~are ~~$19,694 and~~recorded at ~~$0,~~fair ~~respectively~~value. Depreciation ~~expense~~of ~~for~~property, plant and equipment is recognized over the ~~Nine~~estimated ~~months~~useful ~~ended~~lives of the respective assets using ~~September~~the ~~30,~~straight-line ~~2024,~~method. ~~and~~The ~~2023~~estimated ~~was $58,880~~useful ~~and~~lives ~~$0,~~are ~~respectively.~~as follows:

~~F-7~~SCHEUDULE OF ESTIMATED USEFUL LIVES

Deposits

Property, Plant and Equipment		Years
Machinery		5 – 15
Vehicles		5 – 10
Furniture, Fixtures & Office Equipment		3 – 5

~~Advances have been paid to~~Expenditures ~~the~~that ~~suppliers~~extend ~~and subcontractors in~~ the ~~ordinary~~useful ~~course~~life of ~~business~~existing ~~for~~property, ~~the~~plant ~~procurement of specialized material~~ and equipment ~~required in~~are ~~the~~capitalized ~~process of designing, engineering~~ and ~~installing~~depreciated ~~Central~~over ~~Gas~~the ~~distribution~~remaining ~~and~~useful ~~monitoring~~life of ~~systems. The Company is engaged in~~ the ~~design,~~ ~~engineering,~~related ~~supply~~asset. ~~and~~Expenditures ~~monitoring~~for ofrepairs ~~Central Gas systems supplying~~ and ~~installing~~maintenance ~~equipment~~are ~~such~~expensed as ~~pressure~~incurred. ~~regulators,~~When ~~pipelines~~property, ~~safety~~ ~~equipment,~~plant ~~tapping points, metering units, valves~~ and ~~storage~~equipment ~~tanks.~~are Toretired or ~~undertake these projects~~sold, the ~~Company~~cost ~~is required to make upfront investments in materials~~ and ~~machinery.~~related ~~These~~accumulated ~~projects~~depreciation ~~involve~~is ~~many~~removed ~~processes~~from ~~and take substantial time to complete. We estimate that~~ the ~~deposit~~Company’s ~~will~~balance ~~be utilized in the next 12 months~~sheet, ~~however,~~with ~~some~~any ~~will~~gain ~~only~~or beloss ~~returned upon cancellation such as office lease deposit,~~reflected ~~internet~~in ~~and utilities~~operations.

~~End-~~Depreciation & Amortization expenses, including depreciation on Right of~~-service~~ ~~benefits~~Use Assets for the three months ended March 31, 2025, and 2024, was $40,228 and $0, respectively

~~Employee end~~F-of-service benefits in our subsidiary Al Shola Gas amounting to $1134,884 as of September 30, 2024, are provided to employees, in the UAE when they leave a job. Eligibility begins after one year of continuous service and varies based on contract type and length of service. These liabilities are included in other current liabilities on the accompanying consolidated balance sheet. 8

Employee end of service benefits Al Shola Gas	September 30, 2024 (unaudited)
Balance at Beginning		154,261
Add: charge for the period		88,236
Less: Settlement for the period		(107,613	)
Balance at the end of the period		134,884

Deposits, Advances and Prepayments

~~Goodwill~~Advances have been paid to the suppliers and subcontractors in the ordinary course of business for the procurement of specialized material and equipment required in the process of designing, engineering and installing Central Gas distribution and monitoring systems. The Company is engaged in the design, engineering, supply and monitoring of Central Gas systems supplying and installing equipment such as pressure regulators, pipelines, safety equipment, tapping points, metering units, valves and storage tanks. To undertake these projects, the Company is required to make upfront investments in materials and machinery. These projects involve many processes and take substantial time to complete. We estimate that the deposit will be utilized in the next 12 months. However, some will only be returned upon cancellation, such as office lease deposit, internet, and utilities.

~~Goodwill represents the cost~~SCHEDULE ofOF acquired companies in excess of the fair value of the net assets at the acquisition date and is subject to annual impairment. Goodwill is the excess of the purchase price paid for an acquired entity and the amount of the price not assigned to acquired assets and liabilities. It arises when an acquirer pays a high price to acquire a business. This asset only arises from an acquisitionDEPOSITS, ~~and~~ADVANCES itAND ~~cannot be generated internally. Goodwill is an intangible asset, and so is listed within the long-term assets section of the acquirers’ balance sheet.~~PREPAYMENTS

The Company accounts for business combinations by estimating the fair value of consideration paid for acquired businesses and assigning that amount to the fair values of assets acquired and liabilities assumed, with the remainder assigned to goodwill. If the fair value of assets acquired and liabilities assumed exceeds the fair value of consideration paid, a gain on bargain purchase is recognized. The estimates of fair values are determined utilizing customary valuation procedures and techniques, which require us, among other things, to estimate future cash flows and discount rates. Such analyses involve significant judgments and estimations.

Deposits, Prepayments &Advances	March 31, 2025		December 31, 2024
QIND - Advances
Advance for Purchases of Truck		151,000		-
Prepaid Bonus - Nicolas Link		42,800		-
Prepaid Bonus – Louise Bennett		7,500		-
Total - QIND		201,300		-
Al Shola Gas - Advances
Deposits & Advances
Project Job Refundable Security Deposit Against Project Performances		462,180		462,180
DEWA Office		545		545
Emarat General Petroleum Corporation LLC		13,624		13,624
WASL Land		5,450		5,450
Dubai Properties		34,060		34,060
Dubai Real Estate Corporation		6,812		6,812
DIRE Land		6,812		6,812
Emirates Gas LLC		13,624		13,624
Energy Tech		8,937		8,937
Total		552,044		552,044

The Company follows the guidance prescribed in Accounting Standards Codification (“ASC”) 350, Goodwill and Other Intangible Assets, to test goodwill and intangible assets for impairment annually if an event occurs or circumstances change which indicates that its carrying amount may not exceed its fair value.

Prepaid Expenses	March 31, 2025		March 31, 2024
Hamsah Office Rent		14,376		5,714
Store Rent		15,136		3,145
Insurance		569		8,500
Accommodation Rent		64,509		6,669
DCD License		2,668		277
Trade License		13,538		1,038
Visa Cost		34,511		45,128
Total		145,307		70,471
Other Pre-Payments
Aiwa Energy		81,744		81,744
Aiko Mall		81,744		81,744
Aswaaq Shopping Mall		238		24,762
Total		163,726		188,250
Total Deposits, Prepayments &Advances		1,062,378		810,765

F-89

~~Fair value~~ End-of ~~financial instruments~~-service benefits

~~The~~Employee end-of-service ~~carrying~~benefits ~~value~~in ofour ~~cash, accounts~~subsidiary ~~payable,~~Al ~~warrants~~Shola Gas, ~~accrued~~amounting ~~expenses~~to $133,003 ~~and~~as ~~debt~~of March 31, ~~short~~2025, ~~term~~are asprovided ~~well~~to asemployees ~~long~~in ~~term,~~the UAE iswhen ~~recorded~~they atleave ~~fair~~a ~~value~~job. ~~Management~~Eligibility ~~believes the~~begins ~~Company~~after isone ~~not~~year ~~exposed~~of tocontinuous ~~significant~~service ~~interest~~and orvaries ~~credit~~based ~~risks~~on ~~arising~~contract ~~from~~type ~~these~~and ~~financial~~length ~~instruments~~of service. These liabilities are included in other current liabilities on the accompanying consolidated balance sheet.

~~Fair value is defined as the~~SCHEDULE ~~exchange~~OF ~~price~~OTHER ~~that~~CURRENT would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. Valuation techniques used to measure fair value maximize the use of observable inputs and minimize the use of unobservable inputs. The Company utilizes a fair value hierarchy based on three levels of inputs, of which the first two are considered observable and the last unobservable.LIABILITIES

● Level 1. Quoted prices in active markets for identical assets or liabilities. These are typically obtained from real-time quotes for transactions in active exchange markets involving identical assets.

	March 31, 2025			December 31, 2024
Employee end of service benefits Al Shola Gas
Balance from previous period		139,985			154,261
Add: Charge for the period		2,017			93,337
Less: Settle for the period		(8,998	)		(107,613	)

Total	$	133,004		$	139,985

● Level 2. Quoted prices for similar assets and liabilities in active markets; quoted prices included for identical or similar assets and liabilities that are not active; and model-derived valuations in which all significant inputs and significant value drivers are observable in active markets. These are typically obtained from readily available pricing sources for comparable instruments.Goodwill

●Goodwill represents ~~Level~~the 3.cost ~~Unobservable~~of ~~inputs,~~acquired ~~where~~companies ~~there~~in isexcess ~~little~~of orthe nofair ~~market~~value ~~activity~~of ~~for~~the net assets at the ~~asset~~acquisition ordate ~~liability~~and is subject to annual impairment. ~~These~~Goodwill ~~inputs~~is ~~reflect~~the excess of the ~~reporting~~purchase price paid for an acquired entity’s ~~own~~and ~~beliefs~~the ~~about~~amount of the ~~assumptions~~price ~~that~~not ~~market~~assigned to ~~participants~~acquired ~~would~~assets ~~use~~and inliabilities. ~~pricing~~It ~~the~~arises when an acquirer pays a high price to acquire a business. This asset oronly ~~liability~~arises from an acquisition and cannot be generated internally. Goodwill is an intangible asset, ~~based~~and onso ~~the~~it ~~best~~is ~~information~~listed ~~available~~within inthe long-term assets section of the ~~circumstances~~acquirer’s balance sheet.

~~Revenue~~The Company ~~Recognition~~accounts for business combinations by estimating the fair value of consideration paid for acquired businesses and assigning that amount to the fair values of assets acquired and liabilities assumed, with the remainder assigned to goodwill. If the fair value of assets acquired and liabilities assumed exceeds the fair value of consideration paid, a gain on bargain purchase is recognized. The estimates of fair values are determined utilizing customary valuation procedures and techniques, which require us, among other things, to estimate future cash flows and discount rates. Such analyses involve significant judgments and estimations.

The Company ~~recognizes~~follows ~~revenue in~~the ~~accordance~~guidance ~~with~~prescribed in Accounting Standards Codification (“ASC”) ~~Topic 606~~350, ~~Revenue~~Goodwill ~~from~~and ~~Contracts~~Other ~~with~~Intangible Assets, ~~Customers~~to ~~(ASC 606)~~test goodwill and intangible assets for impairment annually if an event occurs or circumstances change which indicates that its carrying amount may not exceed its fair value.

~~The principal activity of~~Fair ~~the~~value ~~Company is to engage in general trading, manufacturing and fabrication or steel and steel products and mainly manufacturing~~ of ~~pressure vessels,~~financial tanks, heat exchangers and construction of storage tanks and piping. Revenue from contracts with customers is recognized when control of the goods or services are transferred to the customer at an amount that reflects the consideration to which the Company expects to be entitled in exchange for those goods or services. The Company has generally concluded that it is the principal in its revenue arrangements because it typically controls the goods or services before transferring them to the customer.instruments

~~Stock-based~~The carrying ~~compensation~~value of cash, accounts payable, warrants, accrued expenses, and debt, short term as well as long term, is recorded at fair value. Management believes the Company is not exposed to significant interest or credit risks arising from these financial instruments.

~~The~~Fair value ~~Company~~is ~~recognizes~~defined ~~all stock-based~~as ~~compensation~~the ~~using~~exchange ~~the~~price ~~fair~~that ~~value~~would ~~provisions~~be ~~prescribed~~received byfor ~~ASC~~an ~~Topic 718,~~asset ~~Compensation - Stock~~or ~~Compensation.~~paid to transfer a liability (an exit price) in the principal ~~Accordingly,~~or ~~compensation~~most ~~costs~~advantageous market for ~~awards~~the ofasset ~~stock-based~~or ~~compensation~~liability ~~settled~~ in ~~shares~~an ~~are~~orderly ~~determined~~transaction ~~based~~between market participants on the measurement date. Valuation techniques used to measure fair value ofmaximize the ~~share-based~~ ~~instrument~~use atof observable inputs and minimize the ~~time~~use of ~~grant~~unobservable ~~and~~inputs. ~~are~~The Company ~~recognized~~utilizes asa ~~expense~~fair ~~over~~value ~~the~~hierarchy ~~vesting~~based ~~period~~on three levels of inputs, of which the ~~share-based~~first ~~instrument,~~two ~~net~~are ~~of estimated~~considered ~~forfeitures~~observable and the last unobservable.

~~In accordance with ASC 718, the Company will generally apply the same guidance to both employee and non~~F-employee share-based awards. However, the Company will also follow specific guidance for share-based awards to non-employees related to the attribution of compensation cost and the inputs to the option-pricing model for expected term. Non-employee share-based payment equity awards are measured at the grant-date fair value of the equity instruments, similar to employee share-based payment equity awards.10

F● Level 1. Quoted prices in active markets for identical assets or liabilities. These are typically obtained from real-9time quotes for transactions in active exchange markets involving identical assets. ● Level 2. Quoted prices for similar assets and liabilities in active markets; quoted prices included for identical or similar assets and liabilities that are not active; and model-derived valuations in which all significant inputs and significant value drivers are observable in active markets. These are typically obtained from readily available pricing sources for comparable instruments. ● Level 3. Unobservable inputs, where there is little or no market activity for the asset or liability. These inputs reflect the reporting entity’s own beliefs about the assumptions that market participants would use in pricing the asset or liability, based on the best information available in the circumstances.

~~The Company calculates the~~Revenue fair value of option grants and warrant issuances utilizing the Binomial pricing model. The amount of stock-based compensation recognized during a period is based on the value of the portion of the awards that are ultimately expected to vest. ASC 718 requires forfeitures to be estimated at the time stock options are granted and warrants are issued to employees and non-employees, and revised, if necessary, in subsequent periods if actual forfeitures differ from those estimates. The term “forfeiture” is distinct from “cancellations” or “expirations” and represents only the unvested portion of the surrendered stock option or warrant. The Company estimates forfeiture rates for all unvested awards when calculating the expenses for the period. In estimating the forfeiture rate, the Company monitors both stock option and warrant exercises as well as employee termination patterns. The resulting stock-based compensation expense for both employee and non-employee awards is generally recognized on a straight-line basis over the period in which the Company expects to receive the benefit, which is generally the vesting period.Recognition

~~Earnings~~The Company recognizes revenue in accordance with Accounting Standards Codification (~~loss~~ASC) ~~per~~Topic ~~share~~606, Revenue from Contracts with Customers (ASC 606).

The principal activity of the Company ~~reports~~is ~~earnings (loss)~~through ~~per~~our ~~share~~operating insubsidiary, ~~accordance~~Al ~~with~~Shola ~~the~~Al ~~Financial~~Modea ~~Accounting~~Gas ~~Standards~~Distribution ~~Board’s~~LLC (“~~FASB~~ASG”) ~~Accounting Standards Codification~~or (“~~ASC~~Al Shola Gas”) ~~260-10~~, ~~“Earnings~~where ~~Per~~we ~~Share,”~~provide ~~which~~comprehensive ~~provides~~solutions for the ~~calculation~~liquefied ofpetroleum gas (“~~basic~~LPG”) ~~and~~industry. ~~“diluted”~~Our ~~earnings~~services ~~per~~include ~~share.~~consulting, ~~Basic~~designing, ~~earnings~~supplying, ~~per~~installing, ~~share~~and ~~includes~~maintaining noLPG ~~dilution~~systems, as well as the transportation and supply isof ~~computed~~LPG byin ~~dividing~~both ~~net~~bulk ~~income~~and orcylinder ~~loss available~~formats. We cater to ~~common~~a ~~stockholders~~diverse byrange ~~the~~of ~~weighted~~clients, ~~average~~including ~~common~~commercial ~~shares~~buildings, ~~outstanding~~mixed-use apartment ~~for~~complexes, ~~the~~shopping ~~period~~centers, food courts, heavy industries, labor accommodations, catering units, commercial kitchens, and dining establishments. ~~Diluted~~Revenue ~~earnings~~from ~~per~~contracts ~~share~~with ~~reflect~~customers is recognized when control of the goods or services is transferred to the ~~potential~~customer ~~dilution~~at ofan ~~securities~~amount that ~~could~~reflects ~~share~~the inconsideration to which the ~~earnings~~Company ofexpects anto ~~entity~~be entitled in exchange for those goods or services. The ~~calculation~~company ofhas ~~diluted~~applied ~~net~~the ~~loss~~five-step ~~per~~approach ~~share~~below ~~gives~~and has generally concluded that it is the principal in its ~~effect~~revenue toarrangements ~~common~~because ~~stock~~it ~~equivalents;~~typically ~~however,~~controls ~~potential~~the ~~common~~goods ~~shares~~or ~~are~~services ~~excluded~~before iftransferring ~~their~~them ~~effect~~to isthe ~~anti-dilutive~~customer.

Particulars	Three Months Ended September 30, 2024 (unaudited)			Three Months Ended September 30, 2023 (unaudited)			Nine Months Ended September 30, 2024 (unaudited)			Nine Months Ended September 30, 2023 (unaudited)
Basic and diluted EPS*
Numerator
Net income/(loss)		(283,750	)		(1,939,269	)		271,383			(3,606,026	)
Net Income attributable to common stockholders		(469,107	)		(1,939,269	)		(154,522	)		(3,606,026	)
Denominator
Weighted average shares outstanding		130,785,139			118,283,503			130,785,139			118,283,503
Number of shares used for basic EPS computation		130,785,139			118,283,503			130,785,139			118,283,503
Basic EPS		(0.00	)		(0.02	)		(0.00	)		(0.03	)
Number of shares used for diluted EPS computation*		139,659,784			118,533,503			139,659,784			118,283,503
Diluted EPS		(0.00	)		(0.02	)		(0.00	)		(0.03	)

	1.	Identify the contract with a customer.
	2.	Identify the performance obligations in the contract.
	3.	Determine the transaction price.
	4.	Allocate the transaction price.
	5.	Recognize revenue when the entity satisfies the performance obligation.

* Includes 250,000 issued warrants and 20,000 series B stock converting at 1:1000.Stock-based compensation

~~Income~~ ~~taxes~~The Company recognizes all stock-based compensation using the fair value provisions prescribed by ASC Topic 718, Compensation - Stock Compensation. Accordingly, compensation costs for awards of stock-based compensation settled in shares are determined based on the fair value of the share-based instrument at the time of grant and are recognized as expense over the vesting period of the share-based instrument, net of estimated forfeitures.

~~The Company accounts for income~~In ~~tax positions in~~ accordance with ~~Accounting~~ASC ~~Standards Codification Topic 740-10-50~~718, ~~“Income~~the ~~Taxes”~~Company ~~(“ASC~~will ~~Topic 740”). This~~generally ~~standard~~apply ~~prescribes~~the asame ~~recognition~~guidance ~~and measurement of tax positions taken or expected~~ to beboth ~~taken~~employee inand anon-employee ~~tax~~share-based ~~return~~awards. ~~For those benefits~~However, tothe beCompany ~~recognized,~~will aalso ~~tax~~follow ~~position~~specific ~~must~~guidance befor ~~more~~share-based ~~likely~~awards ~~than not~~ to benon-employees ~~sustained~~related ~~upon~~to ~~examination by taxing authorities. There was no material impact on~~ the ~~Company’s~~attribution ~~financial position or results~~ of ~~operations~~compensation ~~as a result of the application of this standard. Deferred tax~~cost ~~assets~~and ~~have not been created~~ the ~~majority~~inputs ~~of the company’s income belongs~~ to the ~~subsidiary,~~option-pricing ~~which~~model isfor ~~registered~~expected interm. anNon-employee ~~income tax~~share-~~free jurisdiction~~based ~~since~~payment ~~any~~equity ~~losses~~awards ~~incurred~~are ~~cannot~~measured beat ~~utilized in~~ the ~~future,~~grant-date fair ~~rendering~~value ~~deferred tax assets irrelevant, The profits~~ of ~~a foreign subsidiary corporation are ordinarily not subject to tax in~~ the ~~United States~~equity ~~as in accordance with the general Internal Revenue Service rule~~instruments, ~~foreign~~similar ~~subsidiaries~~to ~~are~~employee ~~not~~share-based ~~considered~~payment ~~U.S. corporations~~equity ~~even if they are wholly owned~~awards.

FThe Company calculates the fair value of option grants and warrant issuances utilizing the Binomial pricing model. The amount of stock-10based compensation recognized during a period is based on the value of the portion of the awards that are ultimately expected to vest. ASC 718 requires forfeitures to be estimated at the time stock options are granted and warrants are issued to employees and non-employees, and revised, if necessary, in subsequent periods if actual forfeitures differ from those estimates. The term “forfeiture” is distinct from “cancellations” or “expirations” and represents only the unvested portion of the surrendered stock option or warrant. The Company estimates forfeiture rates for all unvested awards when calculating the expenses for the period. In estimating the forfeiture rate, the Company monitors both stock option and warrant exercises as well as employee termination patterns. The resulting stock-based compensation expense for both employee and non-employee awards is generally recognized on a straight-line basis over the period in which the Company expects to receive the benefit, which is generally the vesting period.

~~Recently issued accounting pronouncements~~F-11

The Company has evaluated all other recent accounting pronouncements and believes that none of them are expected to have a material effect on the Company’s financial position, results of operations, or cash flows.Rounding

~~Off-Balance~~For purposes ~~Sheet~~of ~~Arrangements~~clarity and ease of presentation, all dollar amounts in these financial statements have been rounded to the nearest whole number. However, the underlying data used in the calculations is not rounded, and the totals presented may differ by a small amount due to rounding. These differences are considered immaterial and do not affect the overall financial position or results of operations.

~~We have no significant off-balance~~Earnings ~~sheet~~(loss) ~~arrangements~~per that have or are reasonably likely to have a current or future effect on our financial condition, changes in financial condition, revenues or expenses, results of operations, liquidity, capital expenditures, or capital resources that are material to stockholders.share

~~Lease~~The Company ~~liabilities~~ reports earnings (loss) per share in accordance with the Financial Accounting Standards Board’s (“FASB”) Accounting Standards Codification (“ASC”) 260-10 “Earnings Per Share,” which provides for the calculation of “basic” and “diluted” earnings per share. Basic earnings per share include no dilution and are computed by dividing net income or loss available to common stockholders by the weighted average common shares outstanding for the period. Diluted earnings per share reflect the potential dilution of securities that could share in the earnings of an entity. The calculation of diluted net loss per share gives effect to common stock equivalents; however, potential common shares are excluded if their effect is anti-dilutive.

~~The Company accounts for leases~~SCHEDULE ~~under~~OF ~~ASC~~CALCULATION ~~Topic~~OF ~~842,~~DILUTED ~~Leases~~NET ~~(Topic~~LOSS ~~842).~~PER Under Topic 842, at the commencement date of the lease, the Company recognizes lease liabilities measured at the present value of lease payments to be made over the lease term. The lease payments include fixed payments (including in substance fixed payments) less any lease incentives receivable, variable lease payments that depend on an index or a rate, and amounts expected to be paid under residual value guarantees. The lease payments also include, if any, the exercise price of a purchase option reasonably certain to be exercised by the Company and payments of penalties for terminating a lease, if the lease term reflects the Company exercising the option to terminate. SHARE

The variable lease payments that do not depend on an index or a rate are recognized as expenses in the period on which the event or condition that triggers the payment occurs.

Particulars	March 31, 2025 (Unaudited)			March 31, 2024 (Unaudited)
Basic and diluted EPS*
Numerator
Net income/(loss)		(1,259,606	)		206,690
Net Income attributable to common stockholders		(1,406,210	)		206,690
Denominator
Weighted average common shares outstanding		135,477,908			127,759,628
Number of shares used for basic EPS computation		140,429,681			128,026,505
Basic EPS		(0.01	)		0.00
Number of shares used for diluted EPS computation*		160,679,681			128,276,505
Diluted EPS		(0.01	)		0.00

In* ~~calculating~~Includes ~~the present value of lease payments~~250,000 ~~the~~issued ~~Company~~warrants ~~uses~~as ~~the~~of ~~incremental~~March ~~borrowing~~31, ~~rate at the lease commencement date if the interest rate implicit in the lease is not readily determinable. After the commencement date~~2025, ~~the amount of lease liabilities is increased to reflect the accretion of interest~~ and ~~reduced~~included ~~for~~20,000 ~~the~~series ~~lease~~B ~~payments~~stock ~~made.~~converting Inat ~~addition,~~1:1000 ~~the~~as ~~carrying amount~~ of ~~lease~~March ~~liabilities is remeasured if there is a modification~~31, ~~a change in the lease term, a change in the in-substance fixed lease payments, or a change in the assessment to purchase the underlying asset~~2025.

~~The Company’s subsidiary,~~Income Al Shola Gas, has entered into commercial vehicles. These leases generally have a lease term of 4 years. The Company’s obligations under its leases are secured by the lessor’s title to the leased assets. There are no restrictions placed upon the Company by entering into these leases. The Company also has leases with terms of 12 months or less which the Company has elected to not apply Topic 842 to short-term leases. taxes

The Company ~~has~~accounts afor ~~Lease~~income ~~arrangement~~tax positions in accordance with Accounting Standards Codification Topic 740-10-50, “Income ~~for~~Taxes” ~~which~~(“ASC Topic 740”). This standard prescribes the ~~liability~~recognition ~~has~~and ~~been~~measurement ~~recorded~~of ~~separately~~tax positions taken or expected to be taken in a tax return. ~~The~~For those benefits to be recognized, a tax position must be more likely than not to be sustained upon examination by taxing authorities. There was no material impact on the Company’s ~~determines~~financial ~~whether~~position anor ~~arrangement~~results of ~~contains~~operations as a ~~lease~~result atof ~~inception~~the application of this standard. ADeferred ~~lease~~tax assets have not been created the majority of the ~~liability~~company’s ~~and~~income ~~corresponding~~belongs ~~right~~to the subsidiary, which is registered in an income tax-free jurisdiction since any losses incurred cannot be utilized in the future, rendering deferred tax assets irrelevant, The profits of ~~use~~a ~~(ROU)~~foreign ~~asset~~subsidiary corporation are ordinarily ~~recognized~~not ~~for~~subject ~~qualifying~~to ~~leased~~tax ~~assets~~in ~~based~~the onUnited States as in accordance with the ~~present~~general ~~value~~Internal ofRevenue ~~fixed~~Service ~~and~~rule, foreign ~~certain~~subsidiaries ~~index-based~~are ~~lease~~not ~~payments~~considered atU.S. ~~lease~~corporations ~~commencement~~even if they are wholly owned.

~~The Company’s obligations~~Corporate ~~under~~Tax its leases are secured by the lessor’s title to the leased assets. There are no restrictions placed upon the Company by entering into these leases. The Company determines if an arrangement is or contains a lease at contract inception and recognizes an ROU asset and a lease liability based on the present value of fixed, and certain index-based lease payments at the lease commencement date. Variable payments are excluded from the present value of lease payments and are recognized in the period in which the payment is made.Provision

FOn January 1, 2024, the UAE introduced a Corporate Tax applicable to Companies on taxable income of above AED 375,000 (i.e., equivalent to USD 102,000 approx.) with a rate of 9% subject to certain conditions/requirements, and due filing of return within nine (9) months to the FTA, post the financial year ending 2024. This relevant tax provision has been accounted for with our UAE-11based subsidiary Al Shola Gas.

The Company generally uses its incremental borrowing rate as the discount rate for measuring its lease liabilities, as the Company cannot determine the interest rate implicit in the lease because it does not have access to certain lessorF-specific information. Lease expense is recognized on a straight-line basis over the lease term. The Company does not have significant finance leases. The Company has elected not to separate payments for lease components from payments for non-lease components for all classes of leases.12

~~When~~Recently issued accounting for finance leases in accordance with ASC 842, the entity recognizes interest on the lease liability and amortization of the ROU asset in the income statement and classify payments of the principal portion of the lease liability as financing activities and payments of interest on the lease liability as operating activities. pronouncements

~~Reclassifications~~The Company has evaluated all other recent accounting pronouncements and believes that none of them are expected to have a material effect on the Company’s financial position, results of operations, or cash flows.

~~Certain reclassifications~~Off-Balance ~~have~~Sheet ~~been made to the December 31, 2023, balance sheet to conform to the September 30, 2024, presentation. These reclassifications had no impact on the net loss or loss per share as previously reported.~~Arrangements

~~NOTE~~We have 3.no ~~GOING~~significant ~~CONCERN~~off-balance sheet arrangements that have or are reasonably likely to have a current or future effect on our financial condition, changes in financial condition, revenues or expenses, results of operations, liquidity, capital expenditures, or capital resources that are material to stockholders.

~~The accompanying consolidated~~Lease financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America on a going concern basis, which contemplates the realization of assets and the satisfaction of liabilities ~~and commitments in the normal course of business.~~

~~Management~~The Company ~~evaluated~~accounts ~~all~~for ~~relevant conditions~~leases ~~and~~under ~~events~~ASC ~~that~~Topic ~~are~~842, ~~reasonably~~Leases ~~known~~(Topic or842). ~~reasonably~~Under ~~knowable~~Topic 842, inat the ~~aggregate,~~commencement asdate of the ~~date~~lease, the Company ~~consolidated~~recognizes ~~financial~~lease ~~statements are~~liabilities ~~issued~~measured ~~and~~at ~~determined~~the present value of lease payments to be made over the lease term. The ~~Company’s~~lease ~~ability~~payments include tofixed ~~continue~~payments as(including ain ~~going~~substance ~~concern~~fixed ispayments) ~~dependent~~less any lease incentives receivable, variable lease payments that depend on ~~the~~an ~~Company’s~~index ~~ability~~or a rate, and amounts expected to ~~continue~~be paid under residual value guarantees. The lease payments also include, if any, the exercise price of a purchase option reasonably certain to ~~generate~~be ~~sufficient~~exercised ~~revenues~~by the Company and ~~raise~~payments ~~capital~~of ~~within~~penalties ~~one~~for ~~year~~terminating ~~from~~a lease, if the ~~date~~lease ofterm ~~filing~~reflects the Company exercising the option to terminate.

~~QIND~~The ~~has~~variable ~~planned~~lease ~~future~~payments ~~acquisitions,~~that ~~and~~do wenot ~~intend~~depend toon ~~disclose~~an ~~these~~index ~~acquisitions,~~or asa ~~they~~rate ~~happen,~~are inrecognized ~~our~~as ~~ongoing~~expenses ~~reports~~in ~~with~~ the ~~Securities and~~period ~~Exchange~~on ~~Commission.~~which ~~Over~~ the ~~next~~event ~~twelve months,~~or ~~management plans to use borrowings and security sales to mitigate the~~condition ~~effects of cash flow deficits; however, no assurance can be given~~ that ~~debt~~triggers orthe ~~equity~~payment ~~financing, if and when required, will be available~~occurs.

~~NOTE~~In calculating 4the present value of lease payments, the Company uses the incremental borrowing rate at the lease commencement date if the interest rate implicit in the lease is not readily determinable. ~~CURRENT~~After ~~ASSETS~~the commencement date, the amount of lease liabilities is increased to reflect the accretion of interest and reduced for the lease payments made. In addition, the carrying amount of lease liabilities is remeasured if there is a modification, a change in the lease term, a change in the in-substance fixed lease payments, or a change in the assessment to purchase the underlying asset.

~~Cash~~The Company’s ~~and~~subsidiary, ~~Cash~~Al ~~Equivalents~~Shola Gas, has entered into commercial vehicles. These leases generally have a lease term of 4 years. The Company’s obligations under its leases are secured by the lessor’s title to the leased assets. There are no restrictions placed upon the Company by entering into these leases. The Company also has leases with terms of 12 months or less, for which the Company has elected not to apply Topic 842.

~~For purposes of the statements~~The ofCompany ~~cash~~has ~~flows,~~a inLease ~~accordance~~arrangement ~~with~~for ~~ASC 230-10-20,~~which the ~~Company~~liability ~~considers~~has ~~all~~been ~~highly~~recorded ~~liquid~~separately. ~~investments~~The ~~and~~Company ~~short-term~~determines ~~debt~~whether ~~instruments with~~an ~~original~~arrangement ~~maturities~~contains a oflease ~~three months~~at orinception. ~~less~~A tolease beliability ~~cash~~and ~~equivalents.~~corresponding ~~The~~right-of-use ~~Company~~(ROU) ~~held~~asset noare ~~cash~~recognized ~~equivalents~~for asqualifying ofleased ~~September~~assets ~~30,~~based ~~2024,~~on ~~and~~the ~~December~~present ~~31,~~value ~~2023.~~of ~~There~~fixed ~~were $221,627~~ and ~~$2,492~~certain inindex-based ~~cash~~lease ~~and~~payments ~~cash~~at ~~equivalents~~lease ~~as of September 30, 2024, and September 30, 2023, respectively~~commencement.

	September 30, 2024		December 31, 2023
Cash and Cash Equivalents
Cash in hand		70,790		2,389
Cash at bank		150,837		103
Total	$	221,627	$	2,492

The Company’s obligations under its leases are secured by the lessor’s title to the leased assets. There are no restrictions placed upon the Company by entering into these leases. The Company determines if an arrangement is or contains a lease at contract inception and recognizes an ROU asset and a lease liability based on the present value of fixed and certain index-based lease payments at the lease commencement date. Variable payments are excluded from the present value of lease payments and are recognized in the period in which the payment is made.

FThe Company generally uses its incremental borrowing rate as the discount rate for measuring its lease liabilities, as the Company cannot determine the interest rate implicit in the lease because it does not have access to certain lessor-12specific information. Lease expense is recognized on a straight-line basis over the lease term. The Company does not have significant finance leases. The Company has elected not to separate payments for lease components from payments for non-lease components for all classes of leases.

~~Accounts Receivables~~F-13

~~Accounts~~When accounting ~~receivable~~for ~~arises~~finance ~~from~~leases ~~our~~in ~~subsidiary Al~~accordance ~~Shola~~with ~~Gas~~ASC ~~consolidated~~842, asan ofentity ~~March~~recognizes ~~31,~~interest ~~2024.~~on ~~The~~the ~~duration~~lease ofliability ~~such~~and ~~receivables~~amortization ~~extends~~of the ~~from~~ROU 30asset ~~days~~in tothe ~~beyond~~income 90statement ~~days.~~and ~~Payments~~classifies ~~are received~~payments ~~only~~of ~~when~~the aprincipal ~~project~~portion isof ~~completed,~~the ~~and~~lease ~~approvals~~liability ~~are~~as ~~obtained.~~financing ~~Provisions~~activities and ~~are~~payments ~~created~~of ~~based~~interest on the ~~estimated~~lease ~~irrecoverable~~liability ~~amounts determined~~as byoperating ~~referring to past default experience~~activities.

Accounts Receivables Ageing Al Shola Gas	September 30, 2024 (unaudited)
1-30 days		659,891
31-60 days		376,289
61-90 days		335,287
+90 days		975,593
Total	$	2,347,060

NOTE 3. GOING CONCERN

~~Other~~The accompanying ~~Current~~consolidated ~~Assets~~financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America on a going concern basis, which contemplates the realization of assets and the satisfaction of liabilities and commitments in the normal course of business.

OnManagement evaluated ~~August 25,~~all ~~2023~~relevant conditions and events that are reasonably known or reasonably knowable, in the ~~Company~~ ~~issued 6~~aggregate,~~410,971~~ ~~shares~~as of ~~our~~the ~~common~~date ~~stock~~the toconsolidated financial ~~Artelliq~~statements ~~Software~~are ~~Trading~~issued ~~for~~and ~~$2,000,000~~determined. ~~pursuant~~The Company’s ability to acontinue ~~share~~as ~~purchase~~a ~~and~~going ~~buyback agreement~~concern ~~signed~~is dependent on ~~August 21,~~the ~~2023.~~Company’s ability ~~The~~to ~~$2,000,000~~continue ~~was~~to ~~paid~~generate tosufficient ~~Quality~~revenues ~~International~~and asraise acapital ~~tranche~~within ~~payment~~one ~~under~~year from the ~~amended~~date ~~purchase agreement~~of filing.

~~NOTE~~QIND has 6planned future acquisitions, and we intend to disclose these acquisitions, as they happen, in our ongoing reports with the Securities and Exchange Commission. ~~NON-CURRENT~~Over ~~ASSETS~~the next twelve months, management plans to use borrowings and security sales to mitigate the effects of cash flow deficits; however, no assurance can be given that debt or equity financing, if and when required, will be available.

~~Related~~NOTE 4. ~~Party~~CURRENT ~~Receivables~~ASSETS

~~As of September 30, 2024,~~Cash and ~~December 31,~~Cash 2023, the Company had amounts due from Ilustrato Pictures International, Inc. (“ILUS”), a majority shareholder of the Company, of $1,943,472 and $333,133, respectively. As of September 30, 2024, $443,472 is related to an intercompany loan agreement executed by and between the Company and ILUS on June 15, 2022. The maximum principal amount to be borrowed by either party from each other under the agreement is $1,000,000. The purpose of the agreement is to provide for working capital to either the Company or ILUS through cash advances on an unsecured basis requested by either party at any time and from time to time in amounts of up to $100,000 and the agreement shall automatically be renewed for successive one-year terms after that unless terminated. The intercompany loan agreement has a term of one year from the date of execution and all cash advances mature and become payable on the termination date. Any unpaid principal accrues simple interest from the date of each cash advance until payment in full at a rate equal to 1% per annum. The remaining $1,500,000 relates to an asset purchase agreement the Company signed on June 21, 2024, with Ilustrato Pictures International Inc. to acquire the long-term investment of $1,500,000 in Quality International. ILUS has agreed to reimburse the Company for the $1,500,000 invested into Quality International that was subsequently canceled and not returned.Equivalents

~~Long~~For purposes ~~Term~~of ~~Investments~~the statements of cash flows, in accordance with ASC 230-10-20, the Company considers all highly liquid investments and short-term debt instruments with original maturities of three months or less to be cash equivalents. The Company held no cash equivalents as of March 31, 2025, and December 31, 2024. There were $360,414 and $225,582 in cash and cash equivalents as of March 31, 2025, and December 31, 2024, respectively.

~~As of September 30, 2024,~~SCHEDULE ~~and~~OF ~~December 31,~~CASH ~~2023,~~AND ~~Long~~CASH ~~Term investments were $0 and $6,500,000, respectively.~~EQUIVALENTS

On July 27, 2023, our Company borrowed from Mahavir Investments Limited the principal amount of $3,000,000 (the “Mahavir Loan”). The Mahavir Loan bore interest at 20% per annum, payable in nine tranches. We had the right to prepay the Mahavir Loan at any time. The loan matured on April 30, 2024. The $3,000,000 was paid to Quality International as a tranche payment of the amended purchase agreement in connection with an investment.

	March 31, 2025		December 31, 2024

Cash and Cash Equivalents
Cash in hand		109,959		122,432
Cash at bank		250,455		103,150
Total	$	360,414	$	225,582

~~F-13~~Accounts Receivables

OnAccounts receivable ~~August 25,~~arise ~~2023,~~from ~~the Company~~our ~~issued~~subsidiary, toAl ~~Artelliq~~Shola ~~Software~~Gas. ~~Trading~~The ~~6,410,971~~duration ~~shares~~ of ~~our~~such ~~common~~receivables ~~stock~~extends ~~for~~from ~~$2,000,000~~30 ~~pursuant~~days to abeyond ~~share~~90 ~~purchase~~days. ~~and buyback~~Payments ~~agreement~~are ~~signed~~received ononly ~~August 21~~when a project milestone is completed, ~~2023.~~and ~~The~~approvals $2are obtained,~~000,000~~ ~~was~~or ~~paid~~after tothe ~~Quality~~goods ~~International~~or asservices aare ~~tranche~~transferred, and according to the payment ofterms with the ~~amended~~customer. ~~purchase~~Provisions are created based on the estimated irrecoverable amounts determined by referring ~~agreement~~to past default experience.

Goodwill

Accounts Receivables Ageing Al Shola Gas	March 31, 2025		December 31, 2024
1-30 days		833,732		992,416
31-60 days		756,964		595,763
61-90 days		217,430		609,407
+90 days		1,280,173		1,008,375
Total		3,088,299		3,205,961
Accounts Receivables		3,088,299		3,205,961

The Company acquired a 51% interest in Al Shola Gas on March 27, 2024, with the issuance of $9,000,000 note payable and $1,000,000 in cash. The note payable is due as follows: $9 million in National Exchange listed stock or cash to be paid to Seller. Payment in eight quarterly tranches over 24 months, beginning from the first quarter following uplist to a National Exchange. Stock value is to be protected by a make whole agreement/s and each tranche is subject to a mutually agreed 12F-~~month leak-out agreement. Within 12 months of closing and at the soonest possible time, $1 million cash payment to the Seller.~~14

~~The Company acquired 51% of~~Other AlCurrent ~~Shola Gas LLC for $10,000,000 and now owns 51% of the Net~~ Assets of Al Shola Gas. The net assets of Al Shola Gas were $2,981,918 on March 31, 2024, of which $1,520,778 (51%) is owned by QIND. The remaining $1,461,140 (49%) of net assets are held by a minority interest or noncontrolling interest. The purchase price of $10,000,000 minus the net assets held by the Company in Al Shola Gas equating to $8,479,222 is part of the Company’s Goodwill. The noncontrolling interest has been presented separately on the accompanying consolidated balance sheet and statement of operations.

~~NOTE~~On August 725, 2023, the Company issued to Artelliq Software Trading 6,410,971 shares of our common stock for $2,000,000 pursuant to a share purchase and buyback agreement signed on August 21, 2023. ~~CURRENT~~The ~~LIABILITIES~~$2,000,000 was paid to Quality International as a tranche payment of the amended purchase agreement.

~~Accounts~~NOTE 5. ~~Payable~~NON-CURRENT ASSETS

~~Accounts payable with a total of $1,124,987 as~~Related ofParty ~~September 30, 2024, include Trade and Other Payables in our subsidiary Al Shola Gas International amounting to $855,204 as of September 30, 2024.~~Receivables

Al Shola Gas Accounts Payables Ageing	September 30, 2024 (unaudited)
0-30 days		94,049
31-60 days		226,984
61-90 days		37,759
+90 days		766,195
Total	$	1,124,987

As of March 31, 2025, and December 31, 2024, the Company had amounts due from Ilustrato Pictures International, Inc. (“ILUS”), a former majority shareholder of the Company, of $2,010,025 and $1,979,772, respectively. As of December 31, 2024, $479,772 is related to an intercompany loan agreement executed by and between the Company and ILUS on June 15, 2022. The maximum principal amount to be borrowed by either party from the other under the agreement was $1,000,000. The purpose of the agreement was to provide for working capital to either the Company or ILUS through cash advances on an unsecured basis requested by either party at any time and from time to time in amounts of up to $100,000, and the agreement shall automatically be renewed for successive one1-year terms after that unless terminated. The intercompany loan agreement has a term of one year from the date of execution and all cash advances mature and become payable on the termination date. Any unpaid principal accrues simple interest from the date of each cash advance until payment in full at a rate equal to 1% per annum. The remaining $1,500,000 relates to an asset purchase agreement the Company signed on June 21, 2024, with Ilustrato Pictures International Inc. to acquire the long-term investment of $1,500,000 in Quality International. ILUS agreed to reimburse the Company for the $1,500,000 invested in Quality International that was subsequently canceled and not returned.

~~Operating~~The Company’s ~~Lease~~majority-owned ~~Liabilities~~subsidiary, -Al ~~Current~~Shola Al Modea Gas LLC, has a sister company, Al Shola Al Modea Safety and Security LLC, an established fire safety company registered in the United Arab Emirates. While both entities operate independently, there is a limited overlap in their customer base. In certain instances, customers may remit payment for goods or services provided by both companies to only one of the entities. These transactions are recorded as related party transactions on the transaction date and are reconciled monthly between the respective related party accounts. As of March 31, 2025, there were $75,976 outstanding balances between Al Shola Gas and Al Shola Al Modea Safety and Security.

As ~~disclosed, we acquired 51%~~ of ~~the outstanding shares of ASG on~~ March 2731, ~~2024. In connection with this acquisition~~2025, weand ~~acquired~~December ~~right-of-use assets of $224~~31,~~040~~ ~~and operating lease liabilities of $233~~2024,~~221~~ ~~associated with lease agreements with a term extending beyond twelve months for vehicles. These acquired operating leases were valued on~~ the ~~date~~Company ofhad ~~acquisition~~amounts ~~using~~due ~~the present value of the lease payments remaining~~ from ~~the~~Nicolas ~~date acquired~~Link ~~and~~due anto ~~estimated~~prepayment ~~incremental borrowing rate~~ of ~~8%.~~bonus ~~During~~amounting ~~the~~to ~~three and nine months ended September 30~~$42, ~~2024, we recognized rent~~800 ~~expense~~and of $550,~~861~~ respectively.

~~F-14~~As of March 31, 2025, and December 31, 2024, the Company had amounts due from Louise Bennett due to prepayment of bonus amount to $7,500 and $0, respectively.

~~Convertible Notes~~Goodwill

OnThe Company ~~August 3,~~acquired ~~2022,~~a ~~the~~51% ~~Company~~interest ~~issued~~in aAl ~~two-year~~Shola ~~convertible~~Gas ~~promissory~~on ~~note~~March in27, ~~the~~2024, ~~principal~~following ~~amount~~the issuance of a $19,~~100~~000,000 note topayable RBand ~~Capital~~$1,000,000 in ~~Partners Inc~~cash. The ~~Note~~note ~~bears~~payable is due as follows: $9 ~~interest~~million atin 7%National ~~per~~Exchange-listed ~~annum~~stock or cash to be paid to the Seller. ~~The~~Payment ~~Company~~is ~~has~~made in eight quarterly tranches over 24 months, beginning from the ~~right~~first toquarter ~~prepay~~following the ~~Note~~uplist atto ~~any~~a ~~time~~national exchange. ~~All~~Stock ~~principal~~value onis ~~the~~to ~~Note~~be isprotected ~~convertible~~by ~~into~~a ~~shares~~make-whole ofagreement/s ~~our~~and ~~common~~each ~~stock~~tranche ~~after~~is ~~six months~~subject ~~from~~to ~~issuance~~a atmutually ~~the~~agreed ~~election~~12-month leak-out agreement. Within 12 months of ~~the~~closing, ~~holder~~and at the soonest possible, a ~~conversion~~$1 million ~~price~~cash ~~equal~~payment is to ~~$1.00~~be ~~per~~made ~~share~~to the Seller.

OnThe Company ~~March 17,~~acquired ~~2023,~~51% ~~the Company~~of ~~issued~~Al aShola ~~two-year~~Gas ~~convertible~~LLC ~~promissory~~for ~~note~~$10,000,000 inand ~~the~~now ~~principal~~owns ~~amount~~51% of ~~$200,000~~the toNet RBAssets ~~Capital~~of ~~Partners~~Al ~~Inc~~Shola Gas. The ~~Note~~net ~~bears~~assets ~~interest~~of Al Shola atGas 7were $3,115,491 on March 31, 2024, of which $1,588,900 (51%) ~~per~~is ~~annum~~owned by QIND. The ~~Company~~remaining ~~has~~$1,526,591 ~~the~~(49%) ~~right~~of tonet ~~repay~~assets ~~the~~are ~~Note~~held by ata ~~any~~minority ~~time~~interest or noncontrolling interest. ~~All~~The ~~principal~~purchase onprice of $10,000,000 minus the ~~Note~~net isassets ~~convertible~~held ~~into~~by ~~shares~~the ofCompany ~~our~~in Al Shola ~~common~~Gas, ~~stock~~equating ~~after~~to ~~six months~~$8,411,100, ~~from~~is ~~issuance~~part atof the ~~election~~Company’s ofGoodwill. ~~the~~The ~~holder~~noncontrolling atinterest ahas ~~conversion~~been ~~price~~presented ~~equal~~separately toon ~~$1.00~~the accompanying ~~per~~consolidated ~~share~~balance sheet and statement of operations.

~~On May 23, 2023, the Company issued to Jefferson Street Capital LLC a one~~F-year convertible promissory note in the principal amount of $220,000 (the “Jefferson Note”). The Jefferson Note bears interest at 7% per annum. The Company has the right to prepay the Note at any time. All principal on the Jefferson Note is convertible into shares of our common stock after six months from issuance at the election of the holder at a conversion price equal to $0.35 per share. During the six months ended September 30, 2024, the lender elected to convert an aggregate of $100,000 of principal into 2,697,315 shares of common stock.15

~~On July 31, 2023, the~~NOTE ~~Company issued to 1800 Diagonal Lending Ltd~~6. aCURRENT ~~promissory~~LIABILITIES note in the principal amount of $174,867 (the “Diagonal Lending Note”). The Diagonal Lending Note had a one-time interest amount of $22,732. The Company will prepay the Diagonal Lending Note in nine monthly payments each in the amount of $21,955.45. The promissory note matures on February 28, 2024, with a total payback to the Holder of $197,599. All principal on the Diagonal Lending Note is convertible into shares of our common stock in the event of default with a conversion price of 65% multiplied by the lowest Trading Price for the Common Stock during the ten (10) Trading Days prior to the Conversion Date. The note has been repaid in full.

~~On August 15, 2023, the~~Accounts Company issued to 1800 Diagonal Lending Ltd. a promissory note in the principal amount of $118,367 (the “Diagonal Lending Note”). The Diagonal Lending Note had a one-time interest amount of $15,387.71. The Company will prepay the Diagonal Lending Note in nine monthly payments each in the amount of $14,861.64. The promissory note matures on May 30, 2024, with a total payback to the Holder of $133,754.71 All principal on the Diagonal Lending Note is convertible into shares of our common stock in the event of default with a conversion price of 65% multiplied by the lowest Trading Price for the Common Stock during the ten (10) Trading Days prior to the Conversion Date. The note has been repaid in full.Payable

OnAccounts payable ~~June 16,~~totaled ~~2023~~$1,693,872 ~~the~~as ~~Company~~of ~~issued~~March to31, ~~Sky~~2025, ~~Holdings~~including ~~Ltd.~~Trade aand ~~six-month~~Other ~~convertible~~Payables ~~promissory note in the principal amount~~ of $~~550~~787,~~000. The Note bears interest~~973 atfor 7%QIND ~~per~~and annum. The Company has the right to prepay the Note at any time. All principal on the Note is convertible into shares of our common stock after six months from issuance at the election of the holder at a conversion price equal to $~~0.35 per share. On~~905,899 ~~May~~for ~~16,~~our ~~2024~~subsidiary, ~~the~~Al ~~promissory~~Shola ~~note was amended to have a conversion price equal to $0~~Gas.~~0375~~ ~~per~~This ~~share.~~compares ~~During the six months ended September 30, 2024, the lender elected~~ to ~~convert~~ $77801,~~000~~721 for ofQIND ~~principal~~ and $351,~~863~~315,155 for ofAl ~~accrued~~Shola ~~interest~~Gas ~~into~~as ~~3,009,680 shares~~ of ~~common~~December ~~stock~~31, ~~at a conversion price of $~~2024.~~0375.~~

OnSCHEDULE ~~December 20,~~OF ~~2023, the~~ACCOUNTS Company issued a two-year convertible promissory note in the principal amount of $100,000 to RB Capital Partners Inc. The Note bears interest at 10% per annum. The Company has the right to prepay the Note at any time. All principal on the Note is convertible into shares of our common stock after sixPAYABLE ~~months from issuance at the election of the holder at a conversion price equal to $1.00 per share.~~

On December 20, 2023, the Company issued a one-year convertible promissory note in the principal amount of $100,000 to Sean Levi. This Convertible Promissory Note (the “Note”) shall bear a minimum of Twenty percent (20%) interest which will be payable within 5 business days from when the company receives the IPO funding, and thereafter Fifteen percent (15%) per annum will be charged. The Note is for 1 year and cannot be converted until (6) months from the date first written above has passed. Fifty Percent (50%) of the value of this note in commitment shares to be issued at a 25% discount to the IPO price. These shares are to be issued upon uplist to the NYSE and must be held for six (6) months. If QIND does not uplist, then Holder will be issued 200% of the value of this note in QIND stock listed on the OTC Markets. Upon payment in full of the principal, this Note shall be surrendered to the Company for cancellation.

Accounts Payable Ageing	March 31, 2025		December 31, 2024
1-30 days		196,651		710,438
31-60 days		231,156		272,627
61-90 days		132,971		169,515
+90 days		1,133,094		964,296
Total		1,693,872		2,116,876

~~F-15~~Related Party Payable

On November ~~January~~ 18, 2024, weQuality ~~issued a~~Industrial ~~convertible~~Corp., ~~promissory~~Fusion ~~note~~Fuel ~~1800~~Green ~~Diagonal~~PLC, ~~Lending~~an ~~LLC~~Irish inpublic ~~the~~limited ~~principal~~company, ~~amount~~Ilustrato ofPictures ~~$174~~International Inc.,~~867~~ ~~and~~ a ~~one-time~~Nevada ~~interest~~corporation, ~~charge~~and certain other stockholders of ~~$22~~the Company,~~732~~ entered into a Stock Purchase Agreement. Pursuant to section ~~Accrued~~6.04 of the agreement, ~~unpaid~~Purchaser ~~Interest~~shall ~~and~~use ~~outstanding~~commercially ~~principal,~~reasonable ~~subject~~efforts to ~~adjustment~~raise at least $5,000,000 in one or more financing transactions, and the Company and Sellers shall besupport ~~paid~~and assist Purchaser in ~~nine~~connection ~~(9)~~with ~~payments~~the ~~each~~Purchaser ofFinancing. ~~$21,955~~The (aParties ~~total~~agree that 50% ~~payback~~of tothe proceeds from the ~~Holder~~Purchaser ofFinancing ~~$197,599).~~will ~~All~~be ~~principal~~set onaside ~~the~~and ~~Diagonal~~made ~~Lending~~available ~~Note~~expressly isfor ~~convertible~~the ~~into~~Company ~~shares~~to ofuse ~~our~~for ~~common~~its ~~stock~~working incapital and corporate needs and the ~~event~~remaining 50% of ~~default~~such ~~with~~funds awill ~~conversion~~be ~~price~~set ofaside ~~65%~~and ~~multiplied~~made byavailable expressly for the ~~lowest~~businesses ~~Trading~~of ~~Price~~Purchaser existing immediately prior to Closing to use for their working capital and corporate needs. To split the ~~Common~~net ~~Stock~~proceeds ~~during~~of the ~~ten~~Purchaser Financing as described above, Purchaser shall make loans of one-half of the net proceeds to the Company, which loans shall be (10i) ~~Trading Days~~ forgiven ~~before~~upon the Preferred Stock Conversion ~~Date.~~or ~~The~~(ii) ~~note~~repaid ~~has~~if ~~been~~the ~~repaid~~Transactions inare ~~full~~unwound.

OnAs of ~~February 6~~March 31, ~~2024~~2025, we ~~issued~~and aDecember ~~six-month~~31, ~~convertible promissory note to Exchange Listing LLC in the principal amount of $35~~2024,~~000.~~ ~~The note is convertible into common stock at~~ the ~~rate~~Company ofhad atamounts aowed ~~discount of thirty-five percent (35%)~~ to ~~the~~Fusion ~~volume~~Fuel ~~weight~~Green ~~average~~PLC ~~trading~~amounting ~~(“VWAP”) of~~to ~~the Company’s common stock for the five (5) days before any conversion~~ $862,237 and ~~bears 10% interest per annum. The~~$0, ~~maturity date shall be the earlier of (i) six (6) months from the Issue Date or upon completion of a listing of the Company on a Senior Exchange~~respectively.

~~On March 12, 2024, we issued~~Operating aLease ~~convertible~~Liabilities ~~promissory note to 1800 Diagonal Lending LLC in the principal amount of $118,367 and a one~~-~~time~~ interest charge of $15,387. Accrued, unpaid Interest and outstanding principal, subject to adjustment, shall be paid in nine (9) payments each in the amount of $14,861.56 commencing April 15, 2024 (a total payback to the Holder of $133,754). All principal on the Diagonal Lending Note is convertible into shares of our common stock in the event of default with a conversion price of 65% multiplied by the lowest Trading Price for the Common Stock during the ten (10) Trading Days prior to the Conversion Date. The note has been repaid in fullCurrent

~~On May 21~~As disclosed, ~~2024,~~ we ~~issued a~~acquired ~~one-year~~51% ~~convertible~~of ~~promissory note Jefferson Street Capital LLC in~~ the ~~principal~~outstanding ~~amount~~shares of ~~$71,500,~~ASG ~~with equal consecutive payments due monthly beginning~~ on ~~October~~March 2127, 2024,. ~~that~~These isacquired ~~five~~operating ~~(5)~~leases ~~months~~were ~~from~~valued on the ~~Issue~~date of ~~Date~~acquisition ~~with~~using the ~~final~~present ~~payment~~value ~~due~~of onthe ~~February~~lease ~~21,~~payments ~~2025. The~~remaining ~~note~~from isthe ~~convertible~~date ~~into~~acquired ~~common~~and ~~stock~~an atestimated ~~the~~incremental borrowing rate of ~~$0.03 and bears 10~~8% ~~interest per annum~~. ~~The~~As ~~promissory~~of ~~note~~March ~~required 500~~31,~~000 commitment~~ ~~shares to be issued. The relative fair value of these commitment shares of $24~~2025,~~179~~ ~~was~~we ~~recorded~~had as a ~~debt~~current ~~discount~~portion ~~and increase to additional paid-in capital. The discount will be amortized into interest expense over the term~~ of ~~the~~lease ~~promissory~~liabilities ~~note. As~~ of ~~September 30, 2024, the unamortized discount was approximately~~ $2182,~~000~~580.

~~On July 3, 2024, we issued~~Convertible a convertible promissory note 1800 Diagonal Lending LLC in the principal amount of $179,400. A one-time interest charge of thirteen percent with a total of $23,322 was applied on the Issuance Date. The first payment shall be due August 15, 2024, with eight subsequent payments due on the 15th of each month thereafter. Accrued, unpaid Interest and outstanding principal, subject to adjustment, shall be paid in nine (9) payments each of $22,524.67 (a total payback to the Holder of $202,722). All principal on the Diagonal Lending Note is convertible into shares of our common stock in the event of default with a conversion price of 65% multiplied by the lowest Trading Price for the Common Stock during the ten (10) Trading Days prior to the Conversion Date.Notes

On August ~~September 20~~3, ~~2024~~2022, wethe ~~entered~~Company ~~into~~issued a ~~loan~~two-year ~~agreement~~convertible ~~with~~promissory ~~J.J.~~note ~~Astor &~~in ~~Co.~~the ~~The~~principal ~~Note~~amount isof ~~the~~$1,100,000 ~~senior~~to ~~secured~~RB ~~with~~Capital aPartners Inc. ~~Principal~~The ~~Amount~~Note ofbears ~~$405,000,~~interest ~~which~~at ~~shall~~7% beper ~~payable~~annum. inThe ~~forty~~Company ~~weekly~~has ~~instalments~~the ofright ~~$10,125. The~~to ~~note~~prepay ~~converts~~the Note at ~~80%~~any oftime. ~~the~~All ~~average~~principal ofon the ~~four~~Note ~~lowest~~is convertible ~~volume~~into ~~weighted~~shares ~~average~~of ~~closing~~our ~~prices~~common ofstock ~~Company~~after ~~Common~~six ~~Stock~~months ~~over~~from ~~the~~issuance ~~twenty (20)~~at ~~trading~~the ~~days~~election ~~immediately~~of ~~prior~~the toholder ~~each~~at ~~permitted~~a conversion ofprice ~~the~~equal to ~~Note~~$1.00 per share.

On March ~~September 25~~17, ~~2024~~2023, we the Company issued a two-year convertible promissory note ~~1800 Diagonal Lending LLC~~ in the principal amount of $~~115~~200,000. Ato ~~one-time~~RB ~~interest~~Capital ~~charge of thirteen~~Partners ~~percent~~Inc. ~~with~~The aNote ~~total~~bears ofinterest ~~$14,950~~at ~~was~~7% ~~applied~~per ~~on the Issuance Date~~annum. The ~~first~~Company ~~payment~~has ~~shall be due October 30, 2024, with eight subsequent payments due on~~ the ~~30th~~right ~~of each month thereafter. Accrued, unpaid Interest and outstanding principal, subject~~ to ~~adjustment,~~repay ~~shall~~the ~~be paid~~Note inat ~~nine~~any ~~(9) payments each of $ $14,438~~time.89 ~~(a total payback to the Holder of $129,500).~~ All principal on the ~~Diagonal Lending~~ Note is convertible into shares of our common stock inafter ~~the~~six ~~event~~months offrom ~~default~~issuance ~~with~~at athe ~~conversion~~election ~~price~~ of ~~65% multiplied by~~ the ~~lowest~~holder ~~Trading Price~~at ~~for~~a ~~the~~conversion ~~Common~~price ~~Stock~~equal ~~during the ten (10) Trading Days prior~~ to ~~the~~$1.00 ~~Conversion Date~~per share.

FOn May 23, 2023, the Company issued to Jefferson Street Capital LLC a one-16year convertible promissory note in the principal amount of $220,000 (the “Jefferson Note”). The Jefferson Note bears interest at 7% per annum. The Company has the right to prepay the Note at any time. All principal on the Jefferson Note is convertible into shares of our common stock after six months from issuance at the election of the holder at a conversion price equal to $0.35 per share. During the six months ended September 30, 2024, the lender elected to convert an aggregate of $100,000 of principal into 2,697,315 shares of common stock. The note has been converted in full.

Certain convertible notes include original issuance discounts or other issuance type costs resulting in debt discounts upon execution. These discounts are amortized into interest expense over the term of the convertible note. During the three and six months ended September 30, 2024, amortization related to these discounts totaled $3,807 and $20,916, respectively, which has been reflected within interest expense on the consolidated statements of operations. As of September 30, 2024, total unamortized debt discounts were $148,397 which has been presented net of the convertible notes on the accompanying consolidated balance sheet.F-16

AOn June ~~summary~~16, of2023, ~~these~~the ~~outstanding~~Company issued to Sky Holdings Ltd. a six-month convertible ~~notes~~ ~~and~~promissory ~~accrued~~note in the principal amount of $550,000. The Note bears interest at 7% per annum. The Company has the right to prepay the Note at any time. All principal on the Note is ~~summarized~~convertible into ~~below:~~shares of our common stock after six months from issuance at the election of the holder at a conversion price equal to $0.35 per share. On May 16, 2024, the promissory note was amended to have a conversion price equal to $0.0375 per share.

~~Debt~~On December &20, ~~Interest~~2023, ~~Payable~~QIND issued a two-year convertible promissory note RB Capital Partners Inc. in the principal amount of $100,000 with a maturity date of December 30, 2025. The note bears interest at 10% per annum. QIND has the right to prepay the note at any time. All principal on the note is convertible into shares of QIND common stock after six months from issuance at the election of the holder at a conversion price equal to $1.00 per share.

Lender	Date of Issue		Maturity Date	Principal Amount		Paid		Converted		Outstanding		Interest
RB Capital Partners Inc.		3 Aug 2022	31 Dec 2024		1,100,000		-		-		1,100,000		166,636
RB Capital Partners Inc.		17 Mar 2023	16 Mar 2025		200,000		-		-		200,000		21,624
Jefferson		23 May 2023	31 Dec 2024		220,000		-		175,000		45,000		19,465
Sky Holdings		16 Jun 2023	31 Dec 2024		550,000		-		77,000		473,000		49,875
RB Capital Partners Inc.		21 Dec 2023	20 Dec 2024		100,000		-		-		100,000		7,802
Sean Levi		8 Jan 2024	8 Jan 2025		100,000		-		-		100,000		14,615
Exchange Listing LLC		6 Feb 2024	31 Dec 2024		35,000		-		-		35,000		2,280
Jefferson		21 May 2024	21 Feb 2025		71,500		-		-		71,500		2,595
1800 Diagonal Lending		3 Jul 2024	25 Apr 2025		179,400		39,456		-		139,944		5,706
1800 Diagonal Lending		25 Sep 2024	30 Jun 2025		115,000		-		-		115,000		206
J.J. Astor & Co		25 Sep 2024	30 Jun 2025		405,000		10,125		-		394,875		-
Less: Interest Paid													(50,760	)
Total					3,075,900		49,581		252,000		2,774,319		240,042

On December 20, 2023, the Company issued a one-year convertible promissory note in the principal amount of $100,000 to Sean Levi. This Convertible Promissory Note (the “Note”) shall bear a minimum of twenty percent (20%) interest, which will be payable within five business days from when the company receives the IPO funding, and thereafter, fifteen percent (15%) per annum will be charged. The Note is for 1 year and cannot be converted until (6) months from the date first written above has passed. Fifty Percent (50%) of the value of this note is committed to shares to be issued at a 25% discount to the IPO price. These shares are to be issued upon uplist to the NASDAQ and must be held for six (6) months. If QIND does not uplist, then Holder will be issued 200% of the value of this note in QIND stock listed on the OTC Markets. Upon payment in full of the principal, this Note shall be surrendered to the Company for cancellation.

~~Discount~~On February 6, 2024, we issued a six-month convertible promissory note to Exchange Listing LLC in the principal amount of $35,000. The note is convertible into common stock at a discount of thirty-five percent (35%) to the volume -weighted average trading (“VWAP”) of the Company’s common stock for the five (5) days before any conversion and bears 10% interest per annum. The maturity date shall be the earlier of (i) six (6) months from the Issue Date or (ii) upon completion of a listing of the Company on ~~Convertible~~a ~~Notes~~Senior Exchange.

Lender	Date of Issue		Maturity Date	Discount
1800 Diagonal Lending		18 Jan 2024	30 Oct 2024		20,117
1800 Diagonal Lending		12 Mar 2024	15 Dec 2024		13,617
Jefferson		21 May 2024	21 Feb 2025		6,500
J.J. Astor & Co		20 Sep 2024	4 Jul 2025		105,000
1800 Diagonal Lending		25 Sep 2024	30 Jun 2025		15,000
1800 Diagonal Lending		3 Jul 2024	25 Apr 2025		23,400
Jefferson Capital (JC)		21 May 2024	21 Feb 2025		24,179
Less: Amortized					(59.416	)
Balance as of September 30, 2024					148,397

On May 21, 2024, we issued a one-year convertible promissory note Jefferson Street Capital LLC in the principal amount of $71,500, with equal consecutive payments due monthly beginning on October 21, 2024, that is five (5) months from the Issue Date with the final payment due on February 21, 2025. The note is convertible into common stock at the rate of $0.03 and bears 10% interest per annum. The promissory note required 500,000 commitment shares to be issued. The relative fair value of these commitment shares of $24,179 was recorded as a debt discount and increased to additional paid-in capital. The discount will be amortized into interest expense over the term of the promissory note.

~~F-17~~On September 25, 2024, we entered into a loan agreement with J.J. Astor & Co. The Note is the senior secured with a Principal Amount of $405,000, which shall be payable in forty weekly instalments of $10,125. The note converts at 80% of the average of the four lowest volume weighted average closing prices of Company Common Stock over the twenty (20) trading days immediately prior to each permitted conversion of the Note.

~~Options~~On September 25, 2024, we issued a convertible promissory note to 1800 Diagonal Lending LLC in the principal amount of $115,000. A one-time interest charge of thirteen percent with a total of $14,950 was applied on the Issuance Date. The first payment shall be due October 30, 2024, with eight subsequent payments due on the 30th of each month thereafter. Accrued, unpaid Interest and ~~Warrants~~outstanding principal, subject to adjustment, shall be paid in nine (9) payments each of $ $14,438.89 (a total payback to the Holder of $129,500). All principal on the Diagonal Lending Note is convertible into shares of our common stock in the event of default, with a conversion price of 65% multiplied by the lowest Trading Price for the Common Stock during the ten (10) Trading Days prior to the Conversion Date. Subsequently, the note has been converted in full.

InCertain convertible ~~accordance~~notes ~~with~~include ~~ASC~~original ~~470,~~issuance ~~warrants~~discounts ~~have~~or ~~been~~other issuance type costs resulting in debt discounts upon execution. These ~~classified~~discounts asare aamortized ~~liability~~into ~~and~~interest ~~recorded~~expense atover ~~their~~the ~~fair~~term ~~value~~of the convertible note. During the Three months ended March 31, 2025, amortization related to these discounts totaled $52,638.

On April 19, 2023, the Company issued a common share purchase warrant to Exchange Listings LLC (the “Exchange Common Share Purchase Warrant”). The holder is entitled, upon the terms and subject to the limitations on exercise and the conditions hereinafter set forth, at any time on or after the date of issuance hereof, to purchase from the Company, 200,000 of the Company’s common shares (whereby such number may be adjusted from time to time pursuant to the terms and conditions of the Exchange Common Share Purchase Warrant) at the exercise price of $0.58, per share then in effect.F-17

~~On May 23, 2023, the Company issued a common share~~A ~~purchase~~summary ~~warrant~~of tothese ~~Jefferson~~outstanding ~~Street~~convertible ~~Capital~~notes ~~LLC (the “Jefferson Common Share Purchase Warrant”). The holder is entitled, upon the terms~~ and ~~subject~~accrued tointerest ~~the~~as ~~limitations on exercise and the conditions hereinafter set forth, at any time on or after the date~~ of ~~issuance~~ ~~hereof,~~March ~~to purchase from the Company~~31, 502025,~~000~~ ofis ~~the~~summarized Company’s common shares (whereby such number may be adjusted from time to time pursuant to the terms and conditions of the Jefferson Common Share Purchase Warrant) at the exercise price of $3.50, per share then in effect.below:

~~Other~~SUMMARY ~~Payables~~OF -OUTSTANDING ~~Current~~CONVERTIBLE NOTES AND ACCRUED INTEREST

InDebt ~~connection~~& ~~with~~Interest ~~the ASG Acquisition, we acquired bank debt totaling approximately $566,805. As of September 30, 2024, total current borrowings outstanding were $246,099.~~Payable

The Company acquired a 51% interest in Al Shola Gas on March 27, 2024, with the issuance of a $9,000,000 note payable and $1,000,000 in cash. The note payable is due as follows: $9 million in National Exchange listed stock or cash to be paid to Seller of which 5,500,000 is the current portion.

Lender	Date of Issue	Maturity Date	Principal Amount		Default Interest Fees		Paid		Converted		Outstanding		Interest

RB Capital Partners Inc.	3 Aug 2022	31 Dec 2024		1,100,000		-		-		-		1,100,000		205,052
RB Capital Partners Inc.	17 Mar 2023	16 Mar 2025		200,000		-		-		-		200,000		28,614
Sky Holdings	16 Jun 2023	31 Dec 2024		550,000		-		-		77,000		473,000		67,760
RB Capital Partners Inc.	20 Dec 2023	20 Dec 2025		100,000		-		-		-		100,000		12,493
Sean Levi	8 Jan 2024	8 Jan 2025		100,000		-		-		-		100,000		24,603
Exchange Listing LLC	6 Feb 2024	31 Dec 2024		35,000		-		-		-		35,000		4,890
Jefferson	21 May 2024	21 Feb 2025		71,500		1,500		-		16,500		56,500		7,150
1800 Diagonal Lending	3 Jul 2024	25 Apr 2025		179,400		93,915		39,456		233,859		-		-
1800 Diagonal Lending	25 Sep 2024	30 Jun 2025		115,000		62,778		12,778		15,000		150,000		7,687
J.J. Astor & Co	25 Sep 2024	30 Jun 2025		405,000		-		40,500		-		364,500		-

Less: Interest Paid														(52,352	)
Total				2,855,900		158,193		92,733		342,359		2,579,001		305,897

Other Payables - Current	September 30, 2024 (unaudited)		December 31, 2023
Mahavir Loan		0		3,235,000
Artelliq loan		0		2,144,554
Payable Al Shola Gas		5,500,000
Other payables		253,149
Total	$	5,753,149	$	5,379,554

Discount on Convertible Notes

Other Liabilities - Current

Lender	Date of Issue	Maturity Date	Discount

1800 Diagonal Lending	18 Jan 2024	30 Oct 2024		20,117
1800 Diagonal Lending	12 Mar 2024	15 Dec 2024		13,617
Jefferson	21 May 2024	21 Feb 2025		6,500
J.J. Astor & Co	20 Sep 2024	4 Jul 2025		105,000
1800 Diagonal Lending	25 Sep 2024	30 Jun 2025		15,000
1800 Diagonal Lending	3 Jul 2024	25 Apr 2025		23,400
Jefferson Capital (JC)	21 May 2024	21 Feb 2025		24,179

Less: Amortized				(168,147	)

Balance as of March 31, 2025				39,666

Other Current Liabilities	September 30, 2024		December 31, 2023
Accrued Interest on Convertible note		240,042		154,032
Payroll Liabilities COO*		73,675		52,354
Audit fee provision		21,000		29,500
Retirement benefits		134,884		0
Corporate Tax payable		79,985		0
Total		549,586		235,886

F-18

*Options and ~~Excludes $7,500 recorded under other payables.~~Warrants

~~NOTE~~In accordance 8.with ~~NON-CURRENT~~ASC ~~LIABILITIES~~470, warrants have been classified as a liability and recorded at their fair value.

~~Operating~~On April ~~Lease~~19, ~~Liabilities~~2023, -the ~~Non-Current~~Company issued a common share purchase warrant to Exchange Listings LLC (the “Exchange Common Share Purchase ~~portion~~Warrant”). The holder is entitled, upon the terms and subject to the limitations on exercise and the conditions hereinafter set forth, at any time on or after the date of issuance hereof, to purchase from the Company, 200,000 of the Company’s common shares (whereby such number may be adjusted from time to time pursuant to the terms and conditions of the Exchange Common Share Purchase Warrant) at the exercise price of $0.58, per share then in effect.

AsOn May ~~disclosed~~23, we2023, ~~acquired 51% of~~ the ~~outstanding~~Company ~~shares~~issued ofa ~~ASG~~common onshare ~~March~~purchase ~~27,~~warrant ~~2024.~~to InJefferson ~~connection~~Street ~~with~~Capital ~~this~~LLC ~~acquisition,~~(the we“Jefferson ~~acquired~~Common ~~right-of-use~~Share ~~assets of $222,730~~Purchase ~~and~~Warrant”). ~~operating~~The ~~lease~~holder ~~liabilities~~is ~~of $229~~entitled,~~359~~ ~~associated~~upon ~~with~~the ~~lease~~terms ~~agreements~~and ~~with~~subject ato ~~term~~the ~~extending~~limitations ~~beyond~~on ~~twelve~~exercise ~~months~~and ~~for~~the ~~vehicles. These~~conditions ~~acquired~~hereinafter ~~operating~~set forth, ~~leases~~at ~~were~~any ~~valued~~time on or after the date of ~~acquisition~~issuance ~~using~~hereof, to purchase from the ~~present~~Company, ~~value~~50,000 of the ~~lease~~Company’s ~~payments~~common ~~remaining from the~~shares ~~date~~(whereby ~~acquired~~such ~~and~~number anmay ~~estimated~~be ~~incremental~~adjusted ~~borrowing~~from ~~rate~~time ofto ~~8%.~~time ~~During~~pursuant to the ~~three~~terms and ~~six~~conditions ~~months~~of ~~ended~~the ~~September~~Jefferson ~~30,~~Common ~~2024,~~Share wePurchase ~~recognized~~Warrant) ~~rent~~at ~~expense~~the exercise price of $3.50,~~367~~ per share then in effect.

~~F-18~~Other Payables Current

~~The~~In connection ~~following~~with isthe aASG ~~summary~~Acquisition, ofwe ~~future~~acquired ~~lease~~short-term ~~payments~~bank ~~required~~debt totaling $550,060. ~~under~~As ~~the~~of ~~lease~~March ~~agreements:~~31, 2025, total current borrowings outstanding were $149,913.

	DUSTER		X TRAIL		KICKS		URWAN		MICROBUS		SUNNY		ASX		YARIS		Renault		Total
Year 2024		1,392		1,440		1,412		4,417		3,716		2,234		1,238		1,014		2,040		18,902
Year 2025		4,404		6,055		8,879		18,576		15,627		9,393		5,207		4,265		8,578		80,983
Year 2026		4,770		6,558		9,616		20,118		16,924		10,173		2,295		1,120		9,290		80,862
Year 2027		1,676		4,074		6,850		8,868		7,460		6,320		0		0		10,061		45,307
Year 2028		0		0		0		0		0		0		0		0		7,167		7,167
		12,242		18,126		26,756		51,978		43,726		28,119		8,741		6,399		37,135		233,221

The Company acquired a 51% interest in Al Shola Gas on March 27, 2024, with the issuance of a $9,000,000 note payable and $1,000,000 in cash. The note payable is due as follows: $9 million in National Exchange-listed stock or cash to be paid to the Seller, of which 5,300,000 is the current portion as of March 31, 2025.

~~Supplemental~~SCHEDULE ~~Information~~OF OTHER PAYABLES CURRENT

Weighted average remaining lease term (in years)		2.70
Other Payables - Current	March 31, 2025			December 31, 2024
Weighted average discount rate		8	%
Payable to Shareholders of Al Shola Gas		5,300,000			5,500,000
CCO expenses payable		12,229			12,229
Bank Borrowings - Current		149,913			265,692
Total		5,462,142			5,777,920

~~Other~~SCHEDULE ~~Payables~~OF -OTHER ~~Long~~LIABILITIES ~~term~~CURRENT

In connection with the ASG Acquisition, we acquired bank debt totaling approximately $566,805. As of September 30, 2024, total long-term borrowings outstanding were $320,706.

Other Liabilities - Current	March 31, 2025		December 31, 2024
Accrued Interest on Convertible note		305,897		263,551
Payroll Liabilities (Group)		1,258,992		148,675
Audit fee provision		55,000		48,000
Retirement benefits		133,004		139,985
Corporate Tax payable		230,667		203,601
Total		1,983,560		803,812
Total Other Current Liabilities		1,983,560		803,812

The Company acquired a 51% interest in Al Shola Gas on March 27, 2024, with the issuance of $9,000,000 note payable and $1,000,000 in cash. The payable is due as follows: $9 million in National Exchange listed stock or cash to be paid to Seller of which 4,500,000 is the NonF-~~current portion.~~19

NOTE 9 7. ~~STOCKHOLDERS’~~NON-CURRENT ~~EQUITY~~LIABILITIES

~~The Company’s authorized~~Operating ~~capital~~Lease ~~stock~~Liabilities ~~consists~~- ofNon-Current ~~200,000,000 shares of common stock and 1,000,000 shares of preferred stock, par value $0.001 per share.~~portion

As disclosed, we acquired 51% of ~~September~~the 30outstanding shares of ASG on March 27, 2024,. ~~and~~These ~~December 31,~~acquired ~~2023,~~operating ~~there~~leases were ~~119,659,784~~valued on the date ~~and~~of ~~127,129,694~~acquisition ~~shares~~using the present value of ~~common~~the ~~stock~~lease ~~issued~~payments remaining from the date acquired and ~~outstanding~~an estimated incremental borrowing rate of 8%. As of March 31, ~~respectively~~2025, we had a non-current portion of lease liabilities of $111,474.

AsThe following ofis ~~September~~a ~~30,~~summary ~~2024,~~of ~~and~~future ~~December 31,~~lease ~~2023,~~payments ~~there~~required ~~were~~under ~~20,000 and 0 shares of preferred stock of~~ the ~~Company~~lease ~~issued and outstanding, respectively.~~agreements:

~~For~~SCHEDULE OF ~~the~~FUTURE ~~Nine~~LEASE ~~months ended September 30, 2023:~~PAYMENTS

On March 17, 2023, the Company issued to RB Capital Partners Inc. a two-year convertible promissory note in the principal amount of $200,000 (the “March 2023 Note”). The March 2023 Note bears interest at 7% per annum. The Company has the right to prepay the March 2023 Note at any time. All principal on the March 2023 Note is convertible into shares of our common stock after six months from issuance at the election of the holder at a conversion price equal to $1.00 per share.

Vehicle	DUSTER		X TRAIL		KICKS		URWAN		MICROBUS		SUNNY		ASX		YARIS		KICKS		RENAULT		Total
Year 2025		3,314		4,586		6,770		14,070		11,836		7,114		3,944		3,230		3,179		3,270		61,314
Year 2026		4,738		6,558		9,680		20,118		16,924		10,173		2,295		1,120		4,546		4,676		80827
Year 2027		2,088		4,074		6,013		8,868		7,460		6,320		0		0		4,923		5,064		44,809
Year 2028		0		0		0		0		0		0		0		0		3,959		3,146		7,105
Total		10,140		15,218		22,463		43,055		36,219		23,607		6,239		4,350		16,608		16,156		194,055

~~F-19~~Supplemental Information as of March 31, 2025:

~~On May 4, 2023, the Company~~SCHEDULE ~~issued~~OF toSUPPLEMENTAL ~~Nicolas Link 2,750,000~~INFORMATION ~~shares of our common stock with a grant date and fair market value of the award as of June 1, 2022, at $0.0721 pursuant to his employee contract.~~

On May 4, 2023, the Company issued to John-Paul Backwell 2,250,000 shares of our common stock with a grant date and fair market value of the award as of June 1, 2022, at $0.0721 pursuant to his employee contract.

Vehicle	DUSTER		X TRAIL		KICKS		URWAN		MICROBUS		SUNNY		ASX		YARIS		KICKS		RENAULT		Total
RoU		9,454		14,279		21,077		40,141		33,767		22,151		5,595		3,875		16,296		15,752		182,387
Lease Liability		10,140		15,218		22,463		43,055		36,219		23,607		6,239		4,350		16,608		16,155		194,054
Current		4,463		6,177		9,118		18,950		15,941		9,582		5,312		4,350		4,283		4,404		82,580
Non-Current		5,677		9,041		13,345		24,105		20,278		14,025		927		-		12,325		11,751		111,474

On May 4, 2023, the Company issued to Carsten Kjems Falk 2,250,000 shares of our common stock with a grant date and fair market value of the award as of June 1, 2022, at $0.0721 pursuant to his employee contract.

Weighted average remaining lease term (in years)			2.21
Weighted average discount rate			8	%

~~On May 4, 2023, the Company~~Other ~~issued~~Payables to- ~~Krishnan~~Long ~~Krishnamoorthy 2,250,000 shares of our common stock with a grant date and fair market value of the award as of June 1, 2022, at $0.0721 pursuant to his employee contract.~~term

OnIn connection ~~May 4,~~with ~~2023,~~ the ~~Company issued~~ASG ~~to Louise Bennett 500~~Acquisition,~~000 shares~~ ofwe ~~our~~acquired ~~common~~long-term ~~stock~~bank ~~with~~debt atotaling ~~grant~~$357,577. As ~~date and fair market value~~ of ~~the~~March ~~award~~31, ~~as of June 1~~2025, ~~2022,~~ attotal ~~$0.0721~~long-term ~~pursuant~~borrowings tooutstanding ~~her~~were ~~employee contract~~$101,923.

OnThe Company ~~May 8,~~acquired ~~2023,~~a ~~the Company~~51% ~~issued~~interest toin ~~Exchange~~Al ~~Listing~~Shola ~~LLC~~Gas 1on March 27,~~543~~ 2024,~~256 shares~~ with the issuance of ~~our~~a ~~common~~$9,000,000 note ~~stock~~payable ~~for~~and $1,~~543~~000,000 in ~~for~~cash. ~~consultancy~~The ~~services~~payable ~~for~~is ~~the~~due ~~planned~~as ~~uplist~~follows: to$9 ~~NYSE~~million ~~with~~in aNational ~~grant~~Exchange-listed ~~date and~~stock ~~fair~~or ~~value~~cash ofto ~~the~~be ~~award,~~paid ~~at $0.41 pursuant~~ to athe ~~share~~Seller, ~~purchase~~of ~~agreement~~which ~~signed~~$4,500,000 is onthe ~~April 19,~~non-current ~~2023~~portion.

~~On June 1, 2023, the~~SCHEDULE ~~Company~~OF ~~issued~~OTHER toPAYABLES ~~Jefferson Street Capital LLC 150,000~~NON-CURRENT ~~shares of our common stock with a grant date and fair value of the award as of May 23, 2023, at $0.60 pursuant to a share purchase agreement signed on May 23, 2023.~~

On July 17, 2023, the Company issued to Sky Holdings Ltd. 300,000 shares of our common stock with a grant-date and fair value of the award as of June 16, 2023, at $0.42 pursuant to a share purchase agreement signed on June 16, 2023.

Other Payables Non-current	March 31, 2025		December 31, 2024
Payable to Shareholders of Al Shola Gas		4,500,000		4,500,000
Bank Borrowings - Non - Current		101,923		116,039
Total		4,601,923		4,616,039

On August 25, 2023, the Company issued to Artelliq Software Trading 6,410,971 shares of our common stock for $2,000,000 pursuant to a share purchase and buy back agreement signed on August 21, 2023. The $2,000,000 was paid to Quality International as tranche payment 2.2 of the amended purchase agreement.F-20

~~On September 15, 2023, the Company issued to Nicolas~~NOTE ~~Link~~8. ~~2,000,000~~STOCKHOLDERS’ ~~shares of our common stock pursuant to his employee contract with a grant-date and fair market value of $0.27.~~EQUITY

OnThe Company’s ~~September~~authorized ~~15,~~capital ~~2023,~~stock ~~the~~consists ~~Company~~of ~~issued to John-Paul Backwell 2~~200,000,000 shares of ~~our~~ common stock, ~~pursuant~~and ~~to his employee contract~~1,000,000 ~~with~~shares aof ~~grant-date~~preferred ~~and~~stock, ~~fair market~~ par value of $0.27001 per share.

OnAs of ~~September~~March 1531, ~~2023~~2025, ~~the~~and ~~Company~~March ~~issued~~31, to2024, ~~Carsten Kjems~~there ~~Falk~~were 1140,~~250~~429,~~000~~681 and 127,129,694 shares of ~~our~~ common stock, ~~pursuant~~issued toand ~~his employee contract~~outstanding, ~~with a grant-date and fair market value of $0~~respectively.~~27.~~

OnAs of ~~September~~March 1531, ~~2023~~2025, ~~the~~and ~~Company~~March ~~issued~~31, ~~to Louise Bennett 350~~2024,~~000~~ ~~shares~~there ofwere ~~our~~0 ~~common~~and ~~stock,~~0 ~~pursuant~~shares toof ~~her~~Series ~~employee~~A ~~contract,~~stock ~~with~~of athe ~~grant-date~~Company issued and ~~fair~~outstanding, ~~market value of $0~~respectively.~~27.~~

~~For~~As of ~~the~~March ~~Nine~~31, ~~months~~2025, ~~ended~~and ~~September~~March 3031, 2024:, there were 20,000 and 0 shares of Series B stock of the Company issued and outstanding, respectively.

~~On January 11, 2024,~~For the ~~Company~~Three ~~issued~~Months ~~281,426~~ended ~~shares~~March ~~of our common stock to Jefferson Street Capital LLC for the conversion of $15~~31,~~000~~ ~~of principal and $1,500 of conversion fees, pursuant to a convertible note signed on May 23, 2023.~~2024

On January 19 11, 2024, the Company issued ~~307~~281,~~692~~426 shares of our common stock to Jefferson Street Capital LLC for the conversion of $15,000 of principal and $1,500 of conversion fees, pursuant to a convertible note signed on May 23, 2023.

~~F-20~~On January 19, 2024, the Company issued 307,692 shares of our common stock to Jefferson Street Capital LLC for the conversion of $15,000 of principal and $1,500 of conversion fees, pursuant to a convertible note signed on May 23, 2023.

On February 15, 2024, the Company issued 307,692 shares of our common stock for the conversion of $15,000 of principal and $1,500 of conversion fees to Jefferson Street Capital LLC, pursuant to a convertible note signed on May 23, 2023.

~~On April 26, 2024, we entered~~For ~~into an asset purchase agreement with Mr. Refer,~~ the ~~previous~~Three ~~owner~~Months ofended ~~the~~March ~~legacy business. Mr. Refer bought the intangible legacy assets of Wikisoft for a total consideration of 480~~31,~~000~~ common stocks to Quality Industrial Corp. (“QIND”) with a fair market value of $0.10 per common stock or $48,000. The shares were returned to the treasury. The legacy assets had no book value; therefore, we have recognized a gain of $48,000 related to this asset purchase.2025

On January ~~May 7~~10, ~~2024~~2025, the Company issued ~~416~~600,~~141~~962 shares of our common stock to ~~Jefferson~~1800 ~~Street~~DIAGONAL ~~Capital~~LENDING LLC for the conversion of $1520,000 of principal ~~and $1~~,~~500~~ ~~of conversion fees,~~ pursuant to a convertible note signed on ~~May 23~~ July 3, ~~2023~~2024.

On January ~~April 30~~13, ~~2024~~2025, the Company issued ~~150~~818,~~000~~331 ~~fully vested~~ shares of our common stock to ~~Paul~~1800 ~~Keely~~DIAGONAL ~~for~~LENDING ~~services~~LLC ~~with~~for athe ~~fair~~conversion ~~market value~~ of $1325,~~125~~000 ~~based~~of principal, onpursuant ~~the~~to ~~market price~~a ofconvertible ~~our~~note ~~stock~~signed on ~~the~~July ~~date~~3, ~~of grant~~2024.

On January ~~May 14~~17, ~~2024~~2025, the Company issued ~~500~~1,~~000~~024,590 ~~fully vested~~ shares of our common stock to ~~John-Paul~~1800 ~~Backwell,~~DIAGONAL ~~our~~LENDING ~~CEO,~~LLC ~~pursuant~~for tothe ~~his~~conversion ~~employment~~of ~~contract with~~$25,000 ~~a fair market value~~ of ~~$36~~principal,~~500~~ ~~based~~pursuant onto ~~the~~a ~~market~~convertible ~~price~~note ofsigned ~~our stock~~ on ~~the~~July ~~date~~3, ~~of grant~~2024.

On January ~~June 3~~27, ~~2024~~2025, the Company issued ~~500~~1,~~000~~678,321 ~~commitment~~ shares of our common stock to ~~Jefferson~~1800 ~~Street~~DIAGONAL ~~Capital,~~LENDING ~~pursuant~~LLC tofor athe ~~convertible~~conversion ~~note~~of ~~signed on May 21~~$30,000 ~~2024~~of principal, ~~with~~pursuant to a ~~relative~~convertible ~~fair~~note ~~value~~signed ofon ~~$24~~July 3,~~179~~ 2024.

On January ~~June 5~~29, ~~2024~~2025, the Company issued ~~884~~2,~~365~~482,269 shares of our common stock to ~~Jefferson~~1800 ~~Street~~DIAGONAL ~~Capital~~LENDING LLC for the conversion of $2535,000 of principal ~~and $1~~,~~500 of~~ ~~conversion fees,~~ pursuant to a convertible note signed on ~~May 20~~ July 3, 2024.

On January ~~July 9~~30, ~~2024~~2025, the Company issued ~~884~~2,~~365~~836,879 shares of our common stock to ~~Jefferson~~1800 ~~Street~~DIAGONAL ~~Capital~~LENDING LLC for ~~the conversion of~~ $2540,000, offor ~~principal~~part ~~and $1,500~~conversion of ~~conversion fees, pursuant to~~ a convertible note signed on ~~May 20~~ July 03, ~~2024~~2023.

On February ~~August 9~~3, ~~2024~~2025, the Company issued ~~884~~2,~~365~~994,289 shares of our common stock to ~~Jefferson~~1800 ~~Street~~DIAGONAL ~~Capital~~LENDING LLC for the conversion of $~~25,000~~ ~~of principal and $1~~38,~~500~~925.77 of ~~conversion fees~~principal, pursuant to a convertible note signed on ~~May 20~~ July 3, 2024. There was no Balance Due remaining under this Note after this Conversion.

On March ~~September 9~~27, ~~2024~~2025, the Company issued 1,~~000~~351,~~000~~351 ~~fully vested~~ shares of our common stock to ~~Sanjeeb~~1800 ~~Safir,~~DIAGONAL ~~pursuant~~LENDING toLLC ~~his~~for ~~employment~~the ~~contract~~conversion ~~signed on September 2, 2024, with a fair market value~~ of $6515,000 ~~based~~of principal, onpursuant ~~the~~to ~~market~~a ~~price~~convertible ofnote ~~our~~signed ~~stock~~ on ~~the~~September ~~date~~25, ~~of grant~~2024.

On September 13, 2024, the Company issued 500,000 fully vested shares of our common stock to Safeguard Investments LLC, pursuant to a Consultancy contract signed on August 31, 2024, with a fair market value of $32,500 based on the market price of our stock on the date of grant.F-21

~~On September 21, 2024, the Company cancelled~~NOTE ~~20,000,000 shares of common stock issued to Ilustrato Pictures International Inc~~9. ~~The~~General ~~shares~~and ~~were~~Administrative ~~reissued to Ilustrato Pictures International Inc.as 20,000 series B preferred stock converting at 1:1000.~~Expenses

~~On September 21, 2024,~~SCHEDULE ~~the~~OF ~~Company~~GENERAL ~~issued~~AND ~~2,500,000~~ADMINISTRATIVE ~~shares of our common stock with a fair market value of $0.075 per share and a total value of $187,000 to JJ Astor Co., pursuant to a convertible note signed on~~EXPENSES ~~September 21, 2024.~~

On September 24, 2024, the Company issued 884,365 shares of our common stock to Jefferson Street Capital LLC for the conversion of $25,000 of principal and $1,500 of conversion fees, pursuant to a convertible note signed on May 20, 2024.

General and Administrative Expenses	March 31, 2025		March 31, 2024
Salaries and compensation to employees
Salary and compensation - QIND		1,200,000		22,500
Salary and compensation - ASG		245,781		-
Salary and compensation		245,781		-
Management Expenses – ASG		105,993		-
Rent		32,349		-
Office Expenses		6,452		-
IT support		3,507		-
Other expenses**		256,586		10,356
Total		1,850,668		32,856

~~F-21~~** Other expenses are primarily expenses in Al Shola Gas for items such as Fuel Expenses, Commission Against Business Activities, depreciation.

NOTE 10. ~~BUSINESS~~NON-OPERATING ~~COMBINATION DISCLOSURE~~INCOME

InThe Company ~~Accordance~~Earned ~~with~~other ~~ASC 805-10-50,~~income ~~ASC 805-30-50,~~in 2024 as a result of sale of intangible legacy assets and reversal of interest payments on the loan agreements with Mahavir and ~~ASC 805-10-25-6~~Artelliq which was unwound with cancellation of the agreement with Quality International.

~~On March 27, 2024, QIND~~The ~~entered~~table ~~into~~below apresents ~~definitive Stock Purchase Agreement with~~ the ~~shareholders~~breakdown of ~~AL SHOLA AL MODEA GAS DISTRIBUTION L.L.C to acquire 51% of the shares, a United Arab Emirates headquartered company (“ASG” or “AL SHOLA GAS”). AL SHOLA GAS is a revenue~~non-~~generating company~~operating ~~in the business of gas system installation and gas supply for commercial and domestic consumers.~~income:

~~QIND acquired majority ownership~~SCHEDULE ofOF AL SHOLA GAS, effective as of March 27, 2024, resulting in AL SHOLA GAS becoming a subsidiary in a transaction accounted for as a business combination. The Company and its auditors considered all pertinent facts pursuant to ASC 805NON-~~10-25-6~~OPERATING that the Share Purchase Agreement signing date is the acquisition date of the company, with the value of $10,000,000 and the payment plan outlined in the agreement. Pursuant to the terms of the Share Purchase Agreement, QIND will occupy two non-paid board seats including Chairman of the Board of Al Shola Gas and there shall be one other non-paid board seat for existing Al Shola Gas shareholders. QIND obtained immediate control with the execution of the Agreement. Existing shareholders and management will retain full operational control unless the new Board of Directors determines otherwise due to a breach of the Agreement, ongoing poor performance, or if structural changes are recommended in line with the laws governed by the Agreement which will be decided and approved by the new Board of Directors of the Company.INCOME

The audited pro forma financial statements of AL SHOLA GAS for the periods ended December 31, 2023, have been filed through 8-K on June 7, 2024. The acquired business contributed revenues of $10,839,209 and earnings of $(2,370,229) in total consisting of $(4,161,797) to parent company QIND and $1,791,568 to the shareholders of AL SHOLA GAS, respectively, for the year ended December 31, 2023.

Non-Operating income

March 31,

2025

March 31,

2024

Reversal of interest payment

379,554

Total

379,554

~~In accordance with ASC 805-30-50-1 (b) and~~NOTE ~~ASC 805-20-50-1(c),~~11. ~~the~~BUSINESS ~~following~~COMBINATION table summarizes the consideration transferred to acquire AL SHOLA GAS and the amounts of identified assets acquired and liabilities assumed at the acquisition date, as well as the fair value of the noncontrolling interest in AL SHOLA GAS at the acquisition date:DISCLOSURE

~~The Payment Schedule signed~~In onAccordance ~~March~~with ~~27,~~ASC ~~2024~~805-10-50, ~~outlines~~ASC a805-30-50, ~~series~~and ofASC ~~payment requirements as follows:~~805-10-25-6

●On March ~~Tranche~~27, 1:2024, $9QIND ~~million~~entered ininto ~~National~~a ~~Exchange~~definitive ~~listed~~Stock ~~stock~~Purchase orAgreement ~~cash~~with tothe beshareholders ~~paid~~of toAL ~~Seller.~~SHOLA ~~Payment~~AL inMODEA ~~eight~~GAS ~~quarterly~~DISTRIBUTION ~~tranches~~L.L.C. to ~~over~~acquire a51% ~~period~~ of 24the ~~months~~shares, ~~beginning~~a ~~from~~United ~~the~~Arab ~~first~~Emirates ~~quarter~~headquartered ~~following~~company ~~uplist~~(“ASG” toor a“AL ~~National~~SHOLA ~~Exchange~~GAS”). ~~Stock~~AL ~~value~~SHOLA GAS is toa berevenue-generating ~~protected~~company byin athe ~~make~~business ~~whole~~of ~~agreement/s~~gas ~~and~~system ~~each~~installation ~~tranche~~and isgas ~~subject~~supply tofor acommercial ~~mutually~~and ~~agreed~~domestic ~~12-month leak-out agreement~~consumers.

●QIND acquired ~~Tranche~~majority 2:ownership ~~Within~~of 12AL ~~months~~SHOLA GAS, effective as of ~~closing~~March 27, 2024, resulting in AL SHOLA GAS becoming a subsidiary, in a transaction accounted for as a business combination. The Company and atits auditors considered all pertinent facts pursuant to ASC 805-10-25-6 that the ~~soonest~~Share ~~possible~~Purchase ~~time~~Agreement signing date is the acquisition date of the Company, $1with ~~million~~the ~~cash~~value of $10,000,000 and the payment plan outlined in the agreement. Pursuant to the ~~Seller~~terms of the Share Purchase Agreement, QIND will occupy two non-paid board seats, including Chairman of the Board of Al Shola Gas, and there shall be one other non-paid board seat for existing Al Shola Gas shareholders. QIND obtained immediate control with the execution of the Agreement. Full operational control will be retained by existing shareholders and management unless the new Board of Directors determines otherwise due to a breach of the Agreement, ongoing poor performance, or if structural changes are recommended in line with the laws governed by the Agreement which will be decided and approved by the new Board of Directors of the Company.

Consideration paid		September 30, 2024				March 31, 2024
Total			0				0

F-22

AsThe audited pro forma financial statements of ~~September~~AL 30SHOLA GAS for the periods ended December 31, ~~2024~~2023, has been filed through 8-K on June 7, 2024. The acquired business contributed revenues of $10,~~000~~839,~~000~~209 ~~payable~~and earnings of $(2,441,164) in total consisting of $(4,232,732) to parent company QIND and $1,791,568 to the shareholders of AL SHOLA GAS ~~was~~respectively, ~~outstanding~~for the year ended December 31, 2023.

~~Fair~~In accordance with ASC 805-30-50-1 (b) and ASC 805-20-50-1(c), the following table summarizes the consideration transferred to acquire AL SHOLA GAS and the amounts of identified assets acquired, and liabilities assumed at the acquisition date, as well as the fair value of the ~~Consideration~~noncontrolling interest in AL SHOLA GAS at the acquisition date:

Cash or National Exchange listed stock	$	9,000,000
Cash	$	1,000,000
Total	$	10,000,000

The Payment Schedule signed on March 27, 2024, outlines a series of payment requirements as follows:

F-22

	●	Tranche 1: $9 million in National Exchange listed stock or cash to be paid to Seller. Payment in eight quarterly tranches over a period of 24 months, beginning from the first full quarter following uplist to a National Exchange. Stock value is to be protected by a make whole agreement/s and each tranche is subject to a mutually agreed 12-month leak-out agreement.

	●	Tranche 2: Within 12 months of closing and at the soonest possible time, $1 million cash payment to the Seller.

~~Goodwill~~SCHEDULE OF ~~calculation~~CONSIDERATION ~~of acquisition~~PAID

Date of Acquisition	USD
Consideration paid	March 31, 2025			March 31, 2024
Cash and cash equivalents	$	111,767
Total		200,000			-
Trade receivables & Other receivables		2,699,826
Inventories		1,315,937
Deposits, prepayments and advances		551,588
Property, plant, and equipment		102,682
Right of use assets		222,130
Trade and other payables		(885,036	)
Lease liabilities		(229,359	)
Bank borrowings		(907,637	)
Total identifiable net assets	$	2,981,918
Non-Controlling Share (49%)		1,461,140
Parent Share (51%)		1,520,778
Goodwill	$	8,479,222

~~During the quarter ended March~~As ~~31, 2024, we consolidated this acquired business since January 1, 2024, rather than since the acquisition date~~ of March ~~27, 2024. The impact on our March~~ 31, ~~2024~~2025, ~~results~~out ~~would~~of ~~have~~the ~~resulted~~total inpayable ~~revenue~~amount of $310,~~086~~000,~~519~~000 ~~cost~~to ofthe ~~revenues~~shareholders of ~~$1,942,279,~~AL ~~net~~SHOLA ~~income~~GAS, ~~available of~~ $~~488~~9,~~083~~800,000 ~~and~~remained ~~earnings per share of $0~~outstanding.~~00.~~

~~NOTE~~Fair value ~~11.~~of ~~SUBSEQUENT EVENTS~~Consideration

~~In accordance with ASC 855-10-50,~~SCHEDULE ~~the~~OF ~~company~~FAIR ~~lists~~VALUE events that are deemed to have a determinable significant effect on the balance sheet at the time of occurrence or on future operations, and without disclosure of it, the financial statements would be misleading.CONSIDERATION

On October 16, 2024, the Company entered into a Share Purchase Agreement with Safeguard Investments LLC, pursuant to which the Investor acquired 1,000,000 shares of the Company’s Common Stock for a purchase price of $30,000.


Cash or National Exchange listed stock	$	9,000,000
Cash	$	1,000,000
Total	$	10,000,000

~~On October 22, 2024,~~Goodwill ~~the~~calculation ~~Company issued 1,092,118 shares~~ of ~~our common stock to Jefferson Street Capital LLC for~~ the ~~conversion of $10,000 of principal and $1,500 of conversion fees, pursuant to a convertible note signed on May 20, 2024.~~acquisition

~~On May 23, 2024, Quality Industrial~~SCHEDULE ~~Corp.~~OF ~~entered~~GOODWILL ~~into~~CALCULATION aOF binding term sheet with Actelis Networks, Inc, a Delaware corporation traded on the NASDAQ under the symbol ASNS, pursuant to which Actelis would acquire between 61% to 75% of the issued and outstanding shares of the Company’s share capital. We originally intended to close the transaction, pending regulatory requirements and due diligence, within 60 days. On August 30, 2024, we agreed to further extend the non-solicitation and no-shop periods provided in the Term Sheet until October 1, 2024, unless mutually terminated earlier by the parties. OnACQUISITION October 10, 2024, ASNS provided the Company with written notice of ASNS’ intent to terminate the Term Sheet in accordance with the termination provisions thereof, which require 30-day written notice of termination Such 30-day period ended, and the Term Sheet was definitively canceled, on November 11, 2024.

On November 18, 2024, Quality Industrial Corp., a Nevada corporation (the “Company”), Fusion Fuel Green PLC, an Irish public limited company (the “Fusion Fuel”), Ilustrato Pictures International Inc., a Nevada corporation , a stockholder of the Company (“Ilustrato”), and certain other stockholders of the Company (together with Ilustrato, the “Sellers” and the Sellers together with the Company and Fusion Fuel, the “Parties”), entered into a Stock Purchase Agreement, dated as of November 18, 2024 (the “Purchase Agreement”). Under the Purchase Agreement, the Sellers will transfer an aggregate of 78,312,334 shares of common stock and 20,000 shares of Series B Preferred Stock of the Company, constituting approximately 69.36% of the capital stock of the Company, to Fusion Fuel (the “Transferred Shares”). Fusion Fuel will issue 3,818,969 Class A ordinary shares and 4,171,327 preferred shares to the Sellers, subject to adjustment, with provisions for the preferred shares to convert into 41,713,270 ordinary shares subject to shareholder approval and Nasdaq listing clearance. The Purchase Agreement also provides for a post-closing merger of the Company into a newly formed subsidiary of Fusion Fuel, resulting in the Company becoming a wholly-owned subsidiary of Fusion Fuel. The transaction is subject to customary closing conditions, including regulatory approvals. The Parties have also agreed to several post-closing covenants, including actions related to shareholder meetings and financing arrangements. The agreement contains customary representations, warranties, and indemnification provisions, and certain unwinding and termination rights.

Date of Acquisition	USD
Cash and cash equivalents	$	111,767
Trade receivables & Other receivables		2,699,826
Inventories		1,315,937
Deposits, prepayments and advances		551,588
Property, plant, and equipment		102,682
Right of use assets		222,130
Trade and other payables		(885,016	)
Lease liabilities		(229,359	)
Bank borrowings		(774,064	)
Total identifiable net assets	$	3,115,491
Non-Controlling Share (49%)		1,526,591
Parent Share (51%)		1,588,900
Goodwill	$	8,411,100

~~F-23~~During the quarter ended March 31, 2024, we consolidated this acquired business since January 1, 2024, rather than since the acquisition date of March 27, 2024. The impact on our March 31, 2024, results would have resulted in revenue of $3,086,519, cost of revenues of $1,942,279, net income available of $488,083, and earnings per share of $0.00.

~~ITEM 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations Forward~~F-~~Looking Statements~~23

~~Certain statements, other~~NOTE than purely historical information, including estimates, projections, statements relating to our business plans, objectives, and expected operating results, and the assumptions upon which those statements are based, are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 193412. ~~These~~SUBSEQUENT forward-looking statements generally are identified by the words “believes,” “project,” “expects,” “anticipates,” “estimates,” “intends,” “strategy,” “plan,” “may,” “will,” “would,” “will be,” “will continue,” “will likely result,” and similar expressions. We intend such forward-looking statements to be covered by the safe-harbor provisions for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995 and are including this statement for purposes of complying with those safe-harbor provisions. Forward-looking statements are based on current expectations and assumptions that are subject to risks and uncertainties which may cause actual results to differ materially from the forward-looking statements. Our ability to predict results or the actual effect of future plans or strategies is inherently uncertain. Factors which could have a material adverse effect on our operations and future prospects on a consolidated basis include but are not limited to changes in economic conditions, incorporating acquisitions, changes in the supply chain for raw materials, effects of Covid and wars, including the Ukraine war, legislative/regulatory changes, availability of capital, interest rates, competition, and generally accepted accounting principles. These risks and uncertainties should also be considered in evaluating forward-looking statements and undue reliance should not be placed on such statements. We undertake no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise. Further information concerning our business, including additional factors that could materially affect our financial results, is included herein and in our other filings with the SEC.EVENTS

~~General~~ In accordance with ASC 855-10-50, the company lists events that are deemed to have a determinable significant effect on the balance sheet at the time of occurrence or on future operations, and without disclosure of it, the financial statements would be misleading.

~~The~~On April ~~following~~8, is2025, aQuality ~~discussion by~~Industrial ~~management~~Corp. ofsigned ~~its~~an ~~view~~Amendment ofto the ~~Company’s~~Share ~~business~~Purchase Agreement, ~~financial~~dated ~~condition~~March 27, ~~and~~2024, ~~corporate~~with ~~performance~~the ~~for~~shareholders of ~~the~~Al ~~past~~Shola ~~year~~Al Modea Gas Distribution LLC. The ~~purpose of~~amended ~~this~~Share ~~information~~Purchase isAgreement toremoved ~~provide~~the ~~management’s~~termination ~~recap~~clause 9.14 and amended other clauses of the ~~past~~Share ~~year~~Purchase Agreement, ~~and~~dated toMarch ~~give~~27, an2024, ~~understanding~~such ofas ~~management’s~~the ~~current outlook~~payment ~~for~~schedule. ~~the~~The ~~near~~foregoing ~~future.~~description ~~This~~of ~~section~~the Amended Share Purchase Agreement is ~~meant~~not tocomplete beand ~~read~~is qualified in ~~conjunction~~its ~~with~~entirety ~~the~~and ~~Financial~~filed ~~Statements~~as ofExhibits to this ~~Quarterly Report on~~ Form 10-Q.

~~Overview~~On April 27, 2025, the Company issued 1,538,461 shares of our common stock to 1800 DIAGONAL LENDING LLC for the conversion of $20,000 of principal, pursuant to a convertible note signed on September 25, 2024.

~~QIND is a Nevada Corporation~~On ~~that~~April is30, ~~majority-owned~~2025, bythe ~~ILUS. ILUS~~Company ~~functions~~issued as1,972,386 ~~QIND’s~~shares ~~parent~~of ~~company,~~our ~~and~~common asstock ~~such~~to it1800 ~~concentrates~~DIAGONAL onLENDING ~~providing~~LLC ~~strategic management~~for ~~oversight~~the ~~that~~conversion ~~includes~~of ~~financial~~$25,000 ~~administration~~of principal, ~~marketing,~~pursuant ~~and human resources support~~ to ~~its~~a ~~operating~~convertible ~~companies.~~note ~~QIND functions~~signed ason ~~the~~September ~~Industrial subsidiary~~25, ~~of ILUS~~2024.

~~Factors~~On May ~~Affecting~~1, ~~Our~~2025, ~~Performance~~the Company issued 2,866,698 shares of our common stock to 1800 DIAGONAL LENDING LLC for the conversion of $30,000 of principal, pursuant to a convertible note signed on September 25, 2024.

~~The~~On May ~~primary~~6, ~~factors~~2025, ~~affecting~~the Company issued 3,959,276 shares of our ~~results~~common stock to 1800 DIAGONAL LENDING LLC for the conversion of ~~operations~~$35,000 of principal, ~~include~~pursuant ~~but~~to ~~are~~a ~~not~~convertible ~~limited~~note ~~to:~~signed on September 25, 2024.

~~General~~On May ~~Macro~~6, ~~Economic~~2025, ~~Conditions~~the Company issued 2,449,570 shares of our common stock to Jefferson Street Capital LLC for the conversion of $0.00 principal amount of the Note together with $8,794.98 of accrued and unpaid interest thereto, $11,200.00 in default principal and $1,500.00 in fees, totaling $21,494.98, pursuant to a convertible note signed on May 23, 2023.

~~Our business is impacted by~~On ~~the~~May ~~global~~13, ~~economic environment~~2025, ~~employment~~the ~~levels,~~Company ~~consumer~~issued ~~confidence~~7, ~~government~~644, ~~and municipal spending. Global instability in securities~~749 ~~markets~~shares ~~and the Russian invasion~~ of ~~Ukraine are among other factors that can impact~~ our ~~financial~~common ~~performance.~~stock Into ~~particular,~~1800 ~~changes~~DIAGONAL LENDING inLLC ~~the~~for ~~U.S. economic climate can impact~~ the ~~demand~~conversion of ~~our product range~~$56,150.68 of ~~The~~principal, ~~Industrial~~pursuant ~~and~~to ~~Manufacturing~~a ~~sectors~~convertible ~~are impacted by~~note ~~the~~signed ~~overall~~on ~~economic~~September ~~environment~~25, ~~as addressed in the risk factors~~2024. ~~Tenders~~The ~~can~~note bewas ~~withdrawn~~fully ~~and lead times for the manufacturing can be affected which can result in cancellation of orders if not delivered on time~~converted.

~~Recent Developments~~F-24

~~On March 27, 2024, we entered~~ITEM ~~into a definitive Stock Purchase Agreement with the shareholders of Al Shola Al Modea Gas Distribution LLC (“ASG” or “Al Shola Gas”) to acquire a 51% interest in ASG~~2. The Closing of the transaction took place when both parties signed the definitive Share Purchase Agreement. Al Shola Gas is an Industrial and Utilities company in the Liquefied Petroleum Gas (LPG) Industry in the United Arab Emirates and was established in 1980. The company is one of the regionManagement’s ~~leading~~Discussion ~~LPG suppliers~~ and ~~contractors~~Analysis of ~~LPG~~Financial ~~centralized pipeline~~Condition ~~systems.~~and ItResults ~~is approved by The General Directorate~~ of ~~Civil~~Operations ~~Defense,~~Forward-Looking ~~Government of Dubai, as a Central Gas Contractor and LPG Supplier. Al Shola Gas has been consolidated into the financials from the quarter ended June 30, 2024.~~Statements

2Certain statements, other than purely historical information, including estimates, projections, statements relating to our business plans, objectives, and expected operating results, and the assumptions upon which those statements are based, are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements generally are identified by the words “believes,” “project,” “expects,” “anticipates,” “estimates,” “intends,” “strategy,” “plan,” “may,” “will,” “would,” “will be,” “will continue,” “will likely result,” and similar expressions. We intend such forward-looking statements to be covered by the safe-harbor provisions for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995 and are including this statement for purposes of complying with those safe-harbor provisions. Forward-looking statements are based on current expectations and assumptions that are subject to risks and uncertainties which may cause actual results to differ materially from the forward-looking statements. Our ability to predict results or the actual effect of future plans or strategies is inherently uncertain. Factors which could have a material adverse effect on our operations and future prospects on a consolidated basis include but are not limited to changes in economic conditions, incorporating acquisitions, changes in the supply chain for raw materials, effects of Covid and wars, including the Ukraine war, legislative/regulatory changes, availability of capital, interest rates, competition, and generally accepted accounting principles. These risks and uncertainties should also be considered in evaluating forward-looking statements and undue reliance should not be placed on such statements. We undertake no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise. Further information concerning our business, including additional factors that could materially affect our financial results, is included herein and in our other filings with the SEC.

On April 1, 2024, after several failed effort negotiations with the purpose of restructuring the deal and obtaining information from the selling shareholders of Quality International, the Purchase Agreement with Quality International was terminated by Quality International and subsequently, the Board of Directors of the Company approved the cancellation of the agreement with Quality International Co Ltd FZC signed on January 18, 2023, and amended on July 27, 2023. The company is in the process of unwinding the remaining part of the transaction consisting of $2M buy-back commitment, with management aiming to recover the investment or parts of it. However, if recovery proves unattainable, the investment may need to be written off.General

~~On May 23, 2024, Quality Industrial~~The ~~Corp.~~following ~~entered~~is ~~into~~ a ~~binding~~discussion ~~term~~by ~~sheet~~management ~~with Actelis Networks, Inc, a Delaware corporation traded on the NASDAQ under the symbol ASNS, pursuant to which Actelis would acquire between 61% to 75%~~ of ~~the~~its ~~issued~~view ~~and outstanding shares~~ of the Company’s ~~share~~business, ~~capital. We~~financial ~~originally intended to close the transaction~~condition, ~~pending regulatory requirements~~ and ~~due~~corporate ~~diligence,~~performance ~~within~~for the 60past ~~days~~year. OnThe ~~August~~purpose ~~30,~~of ~~2024, we~~this ~~agreed~~information is to ~~further~~provide ~~extend~~management’s ~~the~~recap ~~non-solicitation~~of ~~and no-shop periods provided in~~ the ~~Term~~past ~~Sheet~~year ~~until~~and ~~October~~to 1,give ~~2024,~~an ~~unless mutually~~understanding ~~terminated~~of ~~earlier~~management’s bycurrent ~~the~~outlook ~~parties.~~for ~~On October~~the ~~10,~~near ~~2024, ASNS provided~~future. ~~the~~This ~~Company~~section ~~with~~is ~~written~~meant ~~notice of ASNS’ intent~~ to ~~terminate~~be ~~the~~read ~~Term Sheet~~ in ~~accordance~~conjunction with the ~~termination~~Financial ~~provisions thereof, which require a 30-day written notice~~ Statements of ~~termination. The~~this ~~30-day~~Quarterly ~~period~~Report ~~ended, and the Term Sheet was definitively canceled~~ on ~~November 11,~~Form ~~2024~~10-Q.

~~Planned~~QIND is ~~Developments~~a Nevada Corporation majority-owned by Fusion Fuel Green PLC (“Fusion Fuel” or “HTOO”), an Irish company listed on the Nasdaq with the ticker HTOO. HTOO functions as QIND’s parent company, and as such, it concentrates on providing strategic management oversight that includes financial, administrative, marketing, and human resources support to its operating companies. QIND functions as the Industrial Energy subsidiary of HTOO.

~~In the final quarter of 2024, the Company intends to allocate resources~~Factors toAffecting ~~its~~Our operating subsidiary, Al Shola Gas, with the objectives of enhancing efficiency, driving increased sales, expanding into new territories, and positively influencing our financial performance, supported by our parent company, Fusion Fuel Green PLC, which is listed on the NASDAQ under the symbol “HTOO.” Furthermore, the Company plans to invest in new vehicles, specifically bobtail trucks, for Al Shola Gas to augment their Bulk LPG supply capabilities, thereby enhancing our revenue stream. We anticipate that both our revenue and operating expenses will experience an increase as we implement our expansion plan related to Al Shola Gas. This increase will primarily be attributed to administrative and operating costs associated with our business activities.Performance

~~Results~~The primary offactors ~~Operation~~affecting ~~for~~our ~~the~~results ~~Three~~of ~~and~~operations ~~Nine Months~~include, ~~Ended~~but ~~September~~are ~~30,~~not ~~2024,~~limited ~~and 2023~~to:

~~Revenues~~General Macro Economic Conditions

~~We earned $2,662,050 &~~Our ~~$5,979,256~~business inis ~~revenue~~impacted ~~for~~by the ~~Three~~global ~~and~~economic ~~Nine~~environment, ~~months~~employment ~~ended~~levels, ~~September~~consumer 30confidence, ~~2024~~government, ~~compared~~and ~~with~~municipal $0spending. Global instability in ~~revenue~~securities ~~for~~markets ~~the Three~~ and ~~Nine~~the ~~months ended~~Russian ~~September~~invasion ~~30,~~of ~~2023.~~Ukraine ~~The~~are ~~increase~~among inother ~~revenue~~factors isthat acan ~~result~~impact ~~of revenue from~~ our ~~acquisition~~financial ofperformance. In Alparticular, ~~Shola~~changes ~~Gas~~in ~~consolidated from~~ the ~~second quarter~~U.S. ofeconomic ~~2024.~~climate Incan impact the ~~third~~demand ~~quarter,~~for Alour ~~shola~~product ~~Gas,~~range. ~~grew~~The ~~its~~Industrial ~~revenue~~and ~~with~~Manufacturing ~~17%~~sectors are ~~compared~~impacted ~~with~~by the ~~same~~overall ~~quarter~~economic ~~last~~environment ~~year.~~as Weaddressed ~~expect the revenue to grow~~ in the ~~last~~risk ~~three~~factors. ~~months~~Tenders ofcan ~~the~~be ~~year~~withdrawn, ~~compared~~and ~~with~~lead ~~Q3.~~times ~~The~~for ~~last~~the ~~quarter~~manufacturing can ofbe ~~the~~affected, ~~year~~which ~~has~~can ~~historically~~result ~~been~~in ~~the~~cancellation ~~strongest for~~of ~~our~~orders ~~operating~~if ~~business~~not Aldelivered ~~Shola~~on ~~Gas~~time.

3Recent Developments

~~Gross~~On March ~~Profit~~27, 2024, we entered into a definitive Stock Purchase Agreement with the shareholders of Al Shola Al Modea Gas Distribution LLC (“ASG” or “Al Shola Gas”) to acquire a 51% interest in ASG. The Closing of the transaction took place when both parties signed the definitive Share Purchase Agreement. Al Shola Gas is an Industrial and Utilities company in the Liquefied Petroleum Gas (LPG) Industry in the United Arab Emirates and was established in 1980. The company is one of the region’s leading LPG suppliers and contractors of LPG centralized pipeline systems. It is approved by the General Directorate of Civil Defense, Government of Dubai, as a Central Gas Contractor and LPG Supplier. Al Shola Gas has been consolidated into the financials from the quarter ended June 30, 2024.

We earned $1,080,762 & $3,649,260 in Gross Profit for the three and nine months ended September 30, 2024, compared with $0 in Gross Profit for the Three and Nine months ended September 30, 2023. Gross profit % increased to 40.6% for the three months ended September 30, 2024, compared with Gross Profit % of 38.9% for the Nine months ended September 30, 2024. The increase in gross profit % is attributable to a strategic shift in our operating business, Al Shola Gas, to Bulk LPG with higher margins.2

~~Operating~~On April ~~Expenses~~ 1, 2024, after several failed effort negotiations with the purpose of restructuring the deal and obtaining information from the selling shareholders of Quality International, the Purchase Agreement with Quality International was terminated by Quality International and subsequently, the Board of Directors of the Company approved the cancellation of the agreement with Quality International Co Ltd FZC signed on January 18, 2023, and amended on July 27, 2023. The company is in the process of unwinding the remaining part of the transaction, consisting of a $2M buy-back commitment, with management aiming to recover the investment or parts of it. However, the investment may need to be written off if recovery proves unattainable.

~~Operating~~On May ~~expenses~~23, ~~increased to~~2024, $1Quality Industrial Corp. entered into a binding term sheet with Actelis Networks,~~187~~ Inc,~~583~~ ~~for~~a Delaware corporation traded on the ~~Three~~NASDAQ ~~months~~under ~~ended~~the ~~September~~symbol 30ASNS, ~~2024,~~pursuant ~~compared~~to which Actelis would acquire between 61% to ~~$825,608~~75% ~~for~~of the ~~three~~issued ~~months~~and ~~ended~~outstanding ~~September~~shares ~~30,~~of the ~~2023~~Company’s share capital. ~~Operating expenses~~We ~~increased~~originally intended to $2close the transaction,~~098,762~~ ~~for~~pending ~~the~~regulatory ~~Nine~~requirements ~~months~~and ~~ended~~due ~~September~~diligence, within 60 days. On August 30, 2024, ~~compared~~we agreed to ~~$900~~further extend the non-solicitation and no-shop periods provided in the Term Sheet until October 1,~~0675~~ ~~for~~2024, unless mutually terminated earlier by the ~~Nine~~parties. ~~months~~On ~~ended~~October ~~September~~10, 2024, ASNS provided the Company with written notice of ASNS’ intent to terminate the Term Sheet in accordance with the termination provisions thereof, which require a 30-day written notice of termination. The 30-day period ended, ~~2023~~and the Term Sheet was definitively canceled on November 11, 2024.

~~Our~~On November ~~operating~~18, ~~expenses~~2024, ~~for~~ Quality Industrial Corp., a Nevada corporation (the ~~Three~~“Company”), ~~and~~Fusion ~~Nine~~Fuel ~~month~~Green ~~ended~~PLC, ~~September~~an 30Irish public limited company (the “Fusion Fuel”), ~~2024~~Ilustrato Pictures International Inc., ~~were~~a ~~mainly~~Nevada ascorporation, a ~~result~~stockholder of ~~administrative~~ the Company (“Ilustrato”), and ~~operating~~certain ~~costs~~other ~~associated~~stockholders of the Company (together with Ilustrato, the “Sellers” and the Sellers together with the ~~business~~Company ~~activities~~and Fusion Fuel, the “Parties”), entered into a Stock Purchase Agreement, dated as of ~~our~~November 18, ~~subsidiary~~2024 Al(the ~~Shola~~“Purchase ~~Gas~~Agreement”). Under the Purchase Agreement, the Sellers will transfer an aggregate of 78,312,334 shares of common stock and ~~increased~~20,000 ~~costs~~shares ~~associated~~of ~~with~~Series B Preferred Stock of the ~~intended~~Company, ~~uplist~~constituting toapproximately ~~NASDAQ~~69.36% ~~including~~of ~~but~~the capital stock ~~not~~of ~~limited~~the Company, to aFusion ~~reaudit~~Fuel of(the ~~2022~~“Transferred Shares”). Fusion Fuel will issue 3,818,969 Class A ordinary shares and ~~2023~~4,171,327 preferred ~~fiscal~~shares ~~years~~to the Sellers, subject to adjustment, with ~~our~~provisions ~~new~~for ~~independent~~the ~~auditor~~preferred ~~enabling~~shares ato ~~registration~~convert ~~statement~~into ~~once~~41,713,270 ~~uplisted. Our~~ordinary ~~operating~~shares, ~~expenses~~subject to shareholder approval and Nasdaq listing clearance. The Purchase Agreement also provides for a post-closing merger of the ~~Three~~Company ~~and~~into ~~Nine~~a ~~month~~newly ~~ended~~formed ~~September~~subsidiary ~~30,~~of ~~2023~~Fusion Fuel, ~~were~~resulting ~~mainly~~in the ~~result~~Company ofbecoming ~~issuance~~a wholly-owned subsidiary of ~~shares~~Fusion Fuel. The transaction is subject to ~~our~~customary ~~management~~closing conditions, including regulatory approvals. The Parties have also agreed to several post-closing covenants, including actions related to shareholder meetings and financing arrangements. The agreement contains customary representations, warranties, and indemnification provisions, and certain unwinding and termination rights.

WeOn April ~~anticipate~~8, ~~that~~2025, ~~our~~Quality ~~operating expenses~~Industrial ~~will~~Corp. ~~increase~~signed asan weAmendment ~~undertake~~to ~~our~~the ~~control~~Share ~~plan~~Purchase ~~associated~~Agreement, dated March 27, 2024, with ~~operating~~the ~~business~~shareholders of Al Shola Al Modea Gas Distribution LLC. The ~~increase~~amended ~~will~~Share bePurchase ~~attributable to~~Agreement ~~administrative~~removed the termination clause 9.14 and ~~operating~~amended ~~costs~~other clauses ~~associated~~of ~~with~~the ~~our~~Share ~~business~~Purchase ~~activities~~Agreement, ~~and~~dated March 27, 2024, such as the ~~professional~~payment ~~fees~~schedule. ~~associated~~The ~~with~~foregoing ~~our~~description ~~reporting~~of the Amended ~~obligations~~Share Purchase Agreement is not complete and is qualified in its entirety and filed as Exhibits to this Form 10-Q.

~~Non~~On May 21, 2025, it was announced that the Company’s operating subsidiary, Al Shola Al Modea Gas Distribution LLC, has secured over $2.7 million in new project awards since the beginning of March 2025 and has added more than 1,800 apartments to its utility portfolio since the beginning of January 2025. The new contracts encompass engineering, installation, and long-~~Operating~~term ~~Expenses~~operations of liquefied petroleum gas (LPG) utilities. Concerning the liquefied petroleum gas (“LPG”) utilities, newly awarded contracts for the bulk supply of LPG are projected to yield an estimated annual recurring utility revenue of $905,000.

We had other non-operating expenses of $140,833 for the Three months ended September 30, 2024, compared to $129,336 for the Three months ended September 30, 2023. Non-operating expenses increased to $306,684 for the Nine months ended September 30, 2024, from $174,574 for the Nine months ended September 30, 2023.3

~~Our non-operating expenses~~Planned ~~for the Three and Nine month ended September 30, 2024, compared to the same periods in 2023, were higher due to stock issued discount and interest of debts.~~Developments

~~Our~~In ~~Interest~~2025, onthe ~~Convertible notes~~Company ~~for~~will ~~the~~allocate ~~three~~resources ~~and~~to ~~Nine~~our ~~month~~subsidiary, ~~ended~~Al ~~September~~Shola 30Gas, ~~2024~~to enhance efficiency, ~~compared~~boost tosales, and ~~the~~positively ~~same~~impact ~~periods~~their financial performance with investment from our parent company, Fusion Fuel Green PLC. We have invested in new ~~2023~~vehicles ~~increased~~for our subsidiary to improve their bulk LPG supply capabilities and increase our revenue. The ~~management~~trucks ~~plan~~are expected to ~~pay~~be ~~off~~delivered ~~some~~in orthe ~~all~~third quarter of 2025. We anticipate that our revenue and operating expenses will rise as we implement the ~~notes~~expansion plan ~~with~~related anto ~~intended~~our ~~uplist~~subsidiary. This increase will arise from administrative and operating costs linked to ~~NASDAQ~~our business activities.

~~Non-Operating~~Results of ~~Income~~Operation for the Three Months Ended March 31, 2025, and 2024

We had other non-operating income of $0 for the three months ended September 30, 2024, as compared $0 for the same period ended 2023. We had other non-operating income of $427,554 for the Nine months ended September 30, 2024, as compared $0 for the same period ended 2023. Our other income for the Nine months ended September 30, 2024, was a result of reversal of interest payments on the loan agreements with Mahavir and Artelliq in the first quarter which was unwound with cancellation of the agreement with Quality International.Revenues

4We had $3,621,473 and $0 in revenue for the Three months ended March 31, 2025, compared with $0 in revenue for the Three months ended March 31, 2024. The increase in revenue is a result of revenue from our acquisition of Al Shola Gas consolidated from the second quarter of 2024. In the first quarter of 2025, Al Shola Gas, grew its revenue with 17.3% compared with the same quarter last year.

~~Net Income/Net Loss~~Gross Profit

We ~~incurred~~had ~~Net~~$955,386 ~~loss~~and of $~~283,750~~0 in Gross Profit for the three months ended ~~September~~March 3031, ~~2024~~2025, compared towith a$0 ~~net~~in ~~loss~~Gross ofProfit ~~$1,939,269~~ for the Three ~~months~~ ended ~~September 30~~March 31, ~~2023~~2024. WeGross ~~earned~~profit ~~Net~~increased ~~Income of $271,383~~ for the ~~Nine~~three months ended ~~September~~March 3031, ~~2024~~2025, compared ~~to a~~with ~~net~~Gross ~~loss~~Profit ~~of $3,606,026~~ for the ~~Nine~~three months ended ~~September~~March 31, 302024, ~~2023.~~in our operating business, Al Shola Gas.

~~The~~Operating ~~Net loss for the three months ended September 30, 2024, were mainly associated with one off costs with the intended uplist to NASDAQ.~~Expenses

~~Liquidity~~Operating expenses ~~and~~increased ~~Capital~~to ~~Resources~~$1,902,508 for the three months ended March 31, 2025, compared to $81,249 for the three months ended March 31, 2024.

AsOur operating ofexpenses ~~September~~for ~~30, 2024,~~the weThree ~~had~~months ~~total~~ended ~~current~~March ~~assets~~31, ~~of $6~~2025,~~346,815~~ ~~and~~were ~~total~~mainly ~~current~~as ~~liabilities~~a result of ~~$10,123,134.~~administrative Weand ~~had~~operating acosts ~~working~~associated with ~~capital~~the ~~deficit~~business ~~of $3,776,319~~activities as of ~~September~~our ~~30,~~subsidiary ~~2024.~~Al ~~This~~Shola ~~compares~~Gas, ~~with~~and a ~~working~~one-off ~~capital~~bonus ~~deficit~~payout to management of $61,~~089~~020,~~634~~000 asassociated ofwith ~~December~~the merger ~~31,~~with ~~2023~~NASDAQ:HTOO.

~~Operating activities provided~~We ~~$(1,675,954)~~anticipate inthat ~~cash~~our ~~for~~operating ~~the~~expenses ~~Nine~~will ~~months~~increase ~~ended~~as ~~September~~we ~~30,~~undertake ~~2024,~~our ascontrol ~~compared~~plan associated with ~~$(2~~our operating business,~~792,079)~~ ~~used~~Al Shola inGas. ~~cash~~The ~~for~~increase ~~the~~will ~~Nine~~be ~~months~~attributable ~~ended~~to administrative and operating costs associated with our business activities and the ~~September~~professional ~~30,~~fees ~~2023~~associated with our reporting obligations.

Investing activities used $881,025 in cash for the nine months ended September 30, 2024, as compared with $470,000 used in cash for the Nine months ended September 30, 2023. We expect our investing cash flow will grow upon uplist to a national exchange as result of investing in longNon-~~term assets for~~Operating ~~the company’s growth.~~Expenses

~~Financing~~We had ~~activities~~other ~~used $1,014,064~~non-operating inexpenses ~~cash~~of $285,418 for the ~~nine~~three months ended ~~September~~March 3031, ~~2024~~2025, as compared ~~with~~ $291,~~324,222~~615 in ~~cash~~other ~~provided~~expenses for the same period ended ~~2023~~ 2024. ~~Our~~The ~~financing~~increase ~~cash~~in ~~flow~~other ~~for~~operating Q3expenses ~~2024~~in Q1 2025, were mainly the result of ~~changes~~Depreciation inon ~~retained~~Fixed ~~earnings~~assets and ~~minority interest, proceeds from~~ ~~conversion~~Discount ~~notes~~ and ~~additional~~Interest ~~paid~~on inConvertible ~~capital from share issuances~~notes.

~~Going Concern~~Non-Operating Income

~~The~~We ~~accompanying~~had ~~condensed~~other non-operating ~~consolidated~~income ~~financial~~of ~~statements~~$0 ~~have~~for ~~been~~the ~~prepared~~three inmonths ~~accordance~~ended ~~with~~March ~~accounting~~31, ~~principles~~2025, ~~generally~~as ~~accepted~~compared into $379,554 for the ~~United~~same ~~States of~~period ~~America~~ended on2024. aOur ~~going~~other ~~concern~~income ~~basis,~~in Q1 ~~which~~2024 ~~contemplates~~resulted from the ~~realization~~reversal of ~~assets~~interest ~~and~~payments on the ~~satisfaction~~loan ofagreements ~~liabilities~~with Mahavir and ~~commitments~~Artelliq, which was unwound with the cancellation inof the ~~normal~~agreement ~~course~~with ofQuality ~~business~~International.

~~Management evaluated all relevant~~Net ~~conditions~~Income/Net and events that are reasonably known or reasonably knowable, in the aggregate, as of the date the consolidated financial statements are issued and determined. The Company’s ability to continue as a going concern is dependent on the Company’s ability to continue to generate sufficient revenues and raise capital within one year from the date of filing.Loss

~~Over~~We incurred ~~the~~a ~~next~~Net ~~twelve~~Loss ~~months~~of $1, ~~management~~259,606 ~~plans~~for tothe ~~use~~three ~~borrowings~~months ~~and~~ended ~~security~~March ~~sales~~31, 2025, compared to ~~mitigate~~a ~~the~~net ~~effects~~profit of ~~cash~~$206,690 ~~flow~~for ~~deficits;~~the ~~however~~three months ended March 31, no2024. ~~assurance~~The ~~can~~Net beLoss ~~given that~~is ~~debt~~primarily ordue ~~equity~~to ~~financing,~~a ifone-off ~~and~~bonus ~~when~~payout ~~required~~to management of $1,020,000 ~~will~~associated bewith ~~available~~the merger with HTOO.

~~Impact~~Liquidity and ofCapital ~~Acquisitions~~Resources

~~Historically a significant~~As ~~component~~ of ~~our~~March ~~growth~~31, ~~has~~2025, ~~been~~we ~~through~~had ~~the~~total ~~acquisition~~current assets of ~~businesses~~$7,594,665 inand ~~our~~total ~~targeted~~current ~~sectors.~~liabilities Weof ~~typically~~$12,623,726. ~~incur~~These ~~upfront~~liabilities ~~costs as we~~include ~~incorporate~~the ~~and~~payable ~~integrate~~amount ~~acquired~~of ~~businesses~~$5,300,000 ~~into~~as ~~our~~part ~~operating~~of ~~philosophy~~the ~~and~~purchase ~~operational~~consideration ~~excellence.~~for ~~This~~the ~~includes~~acquisition ~~consolidation~~ of ~~supplies~~ ~~and~~our ~~raw~~operating ~~materials~~company, ~~optimized~~Al ~~logistics~~Shola ~~and~~Gas, which ~~production~~will ~~processes,~~be ~~and~~paid ~~other~~over ~~restructuring~~the ~~and~~next ~~improvements~~12 ~~initiatives~~months. ~~The~~We ~~benefits of~~had ~~these~~negative ~~integration~~working ~~efforts~~capital ~~and~~of ~~upcoming~~$5,029,061 ~~planned~~as ~~acquisitions~~of ~~may~~March ~~not~~31, ~~positively~~2025. ~~impact~~This ~~our~~compares ~~financial~~with ~~results in the short term but has~~a ~~historically~~working ~~been~~capital ~~the~~deficit ~~case~~of in$3,896,995 ~~the~~as ~~medium~~of toDecember ~~long~~31, ~~term~~2024.

~~Critical~~Operating activities ~~Accounting~~used ~~Policies~~$334,816 in cash for the three months ended March 31, 2025, as compared with $170,860 used in cash for the three months ended March 31, 2024. Our negative operating cash flow for Q1 2025 was mainly due to a one-off bonus payout to management of $1,020,000 associated with the merger of HTOO.

InInvesting activities ~~December~~used ~~2001~~$200,000 ~~the~~in ~~SEC requested~~cash ~~that~~for ~~all registrants list their most “critical accounting policies” in~~ the ~~Management~~three ~~Discussion~~months ~~and~~ended ~~Analysis.~~March ~~The SEC~~31, ~~indicated~~2025, ~~that~~as acompared ~~“critical~~with ~~accounting~~$111,766 ~~policy”~~provided isin ~~both~~cash ~~important~~for to the ~~portrayal~~three months ofended aMarch ~~company’s financial condition and results~~31, ~~and~~2024. ~~requires~~We ~~management’s~~expect ~~most~~our ~~difficult,~~investing ~~subjective,~~cash orflow ~~complex~~to ~~judgments,~~grow ~~often~~ as a result of ~~the~~investing ~~need to make estimates about the effect of inherently uncertain matters. Our critical accounting policies are disclosed~~ in ~~the~~long-term ~~Notes~~assets offor ~~our unaudited financial~~the ~~statements~~company’s ~~included in this Quarterly Report on Form 10-Q~~growth.

~~Goodwill~~Financing activities provided $669,647 in cash for the three months ended March 31, 2025, as compared with $171,074 in cash provided for the same period ended 2024. Our financing cash flow for Q1 2025 was mainly the result of proceeds from our parent company, Fusion Fuel.

~~The Company continues to review~~Going its goodwill for possible impairment or loss of value at least annually or more frequently upon the occurrence of an event or when circumstances indicate that a reporting unit’s carrying amount is greater than its fair value. On September 30, 2024, we performed a goodwill impairment evaluation. We performed a qualitative assessment of factors to determine whether it was necessary to perform the goodwill impairment test. Based on the results of the work performed, the Company has concluded that no impairment loss was warranted on September 30, 2024. Factors including non-renewal of a major contract or other substantial changes in business conditions could have a material adverse effect on the valuation of goodwill in future periods and the resulting charge could be material to the future periods’ results of operations. Concern

~~Off-Balance~~The accompanying ~~Sheet~~condensed ~~Arrangements~~consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America on a going concern basis, which contemplates the realization of assets and the satisfaction of liabilities and commitments in the normal course of business.

WeManagement evaluated ~~have~~all norelevant ~~significant~~conditions ~~off-balance sheet~~and ~~arrangements~~events that ~~have~~are reasonably known or reasonably knowable, in the aggregate, as of the date the consolidated financial statements are ~~reasonably~~issued ~~likely~~and todetermined. ~~have~~The aCompany’s ~~current~~ability orto ~~future~~continue ~~effect~~as ona ~~our~~going ~~financial~~concern ~~condition,~~is ~~changes~~dependent inon ~~financial~~the Company’s ~~condition,~~ability ~~revenues~~to orcontinue ~~expenses,~~to ~~results~~generate ofsufficient ~~operations,~~revenues ~~liquidity,~~and raise capital ~~expenditures~~within orone ~~capital~~year ~~resources~~from ~~that~~the ~~are~~date ~~material~~of ~~to stockholders~~filing.

~~Recently~~Over the ~~Issued~~next ~~Accounting~~twelve ~~Pronouncements~~months, management plans to use borrowings and security sales to mitigate the effects of cash flow deficits; however, no assurance can be given that debt or equity financing, if and when required, will be available.

~~In January 2017, the FASB~~Impact issued ASU 2017-04, Simplifying the Test for Goodwill Impairment, which simplifies the accounting for goodwill impairments by eliminating step two from the goodwill impairment test. Instead, if the carrying amount of a reporting unit exceeds its fair value, an impairment loss shall be recognized in an amount equal to that excess, limited to the total amount of goodwill allocated to that reporting unit. ASU 2017-04 also clarifies that an entity should consider income tax effects from any tax-deductible goodwill on the carrying amount of the reporting unit when measuring the goodwill impairment loss, if applicable. The new standard is effective for fiscal years beginning after December 15, 2019, for both interim and annual reporting periods. The Company is currently assessing the potential impact of the adoption of ASU 2017-04 on its consolidated financial statements.Acquisitions

6Historically, a significant component of our growth has been through the acquisition of businesses in our targeted sectors. We typically incur upfront costs as we incorporate and integrate acquired businesses into our operating philosophy and operational excellence. This includes consolidation of supplies and raw materials, optimized logistics and production processes, and other restructuring and improvement initiatives. The benefits of these integration efforts and upcoming planned acquisitions may not positively impact our financial results in the short term, but have historically been the case in the medium to long term.

~~The Company has implemented~~Critical ~~all~~Accounting new accounting pronouncements that are in effect. These pronouncements did not have any material impact on the financial statements unless otherwise disclosed, and the Company does not believe that there are any other new accounting pronouncements that have been issued that might have a material impact on its financial position or results of operations.Policies

~~Item~~In December 32001, the SEC requested that all registrants list their most “critical accounting policies” in the Management Discussion and Analysis. ~~Quantitative~~The SEC indicated that a “critical accounting policy” is both important to the portrayal of a company’s financial condition and ~~Qualitative~~results, ~~Disclosures~~and ~~About~~requires ~~Market~~management’s ~~Risk~~most difficult, subjective, or complex judgments, often as a result of the need to make estimates about the effect of inherently uncertain matters. Our critical accounting policies are disclosed in the Notes of our unaudited financial statements included in this Quarterly Report on Form 10-Q.

~~A smaller reporting company is not required to provide the information required by this Item.~~5

~~Item 4. Controls and Procedures~~Goodwill

WeThe Company ~~maintain~~continues ~~disclosure~~to ~~controls and~~review ~~procedures~~its ~~designed~~goodwill tofor ~~ensure~~possible ~~that~~impairment ~~information~~or ~~required~~loss toof bevalue ~~disclosed~~at inleast ~~reports~~annually ~~filed~~or ~~under~~more frequently upon the ~~Securities~~occurrence of ~~Exchange~~an ~~Act~~event ofor ~~1934, as~~when ~~amended,~~circumstances indicate that a reporting unit’s carrying amount is ~~recorded,~~greater ~~processed~~than its fair value. On September 30, ~~summarized~~2024, ~~and~~we ~~reported~~performed ~~within~~a goodwill impairment evaluation. We performed a qualitative assessment of factors to determine whether it was necessary to perform the ~~time~~goodwill ~~periods~~impairment ~~specified~~test. inBased on the ~~SEC~~results ~~rules~~of ~~and~~the ~~forms~~work performed, ~~and~~the Company has concluded that ~~such~~no impairment ~~information~~loss iswas ~~accumulated~~warranted ~~and~~on ~~communicated~~September to30, ~~our~~2024. ~~management,~~Factors including ~~our~~non-renewal ~~principal~~of ~~executive~~a ~~officer~~major ~~and~~contract ~~principal~~or ~~financial~~other ~~officer,~~substantial changes in business asconditions ~~appropriate,~~could have a material adverse effect on the valuation of goodwill in future periods and the resulting charge could be material to ~~allow~~the ~~timely~~future ~~decisions~~periods’ ~~regarding~~results ~~required~~of ~~disclosure~~operations.

~~In designing and evaluating~~Off-Balance ~~our~~Sheet disclosure controls and procedures, management recognized that any controls and procedures, no matter how well designed and operated, can provide only reasonable assurance of achieving the desired control objectives.Arrangements

AsWe have ~~required~~no bysignificant ~~SEC Rule 15d~~off-~~15, our~~balance ~~management~~sheet ~~carried~~arrangements ~~out~~that anhave ~~evaluation,~~or ~~under~~are ~~the~~reasonably ~~supervision~~likely ~~and~~to ~~with~~have ~~the~~a ~~participation~~current ofor ~~our~~future ~~principal~~effect ~~executive~~on ~~officer~~our ~~and principal~~ financial ~~officer~~ condition, ofchanges ~~the~~in ~~effectiveness~~financial ofcondition, ~~our~~revenues ~~disclosure~~or ~~controls~~expenses, ~~and~~results ~~procedures as~~ of ~~the~~operations, ~~end~~liquidity, ofcapital ~~the~~expenditures ~~period~~or ~~covered~~capital ~~by this Quarterly~~resources ~~Report~~that onare ~~Form~~material ~~10-Q~~to stockholders.

~~Based on that evaluation,~~Recently ~~our~~Issued ~~principal~~Accounting executive officer and principal financial officer concluded that our disclosure controls and procedures were effective at a reasonable assurance level as of the end of the period covered by this report.Pronouncements

~~Changes~~In January 2017, the FASB issued ASU 2017-04, Simplifying the Test for Goodwill Impairment, which simplifies the accounting for goodwill impairments by eliminating step two from the goodwill impairment test. Instead, if the carrying amount of a reporting unit exceeds its fair value, an impairment loss shall be recognized in ~~Internal~~an ~~Control~~amount ~~over~~equal ~~Financial~~to that excess, limited to the total amount of goodwill allocated ~~Reporting~~to that reporting unit. ASU 2017-04 also clarifies that an entity should consider income tax effects from any tax-deductible goodwill on the carrying amount of the reporting unit when measuring the goodwill impairment loss, if applicable. The new standard is effective for fiscal years beginning after December 15, 2019, for both interim and annual reporting periods. The Company is currently assessing the potential impact of the adoption of ASU 2017-04 on its consolidated financial statements.

~~There~~The Company has ~~been~~implemented noall ~~change~~new accounting pronouncements that are in ~~our~~ ~~internal~~effect. ~~control~~These ~~over~~pronouncements ~~financial~~did ~~reporting~~not ~~identified~~have inany ~~connection~~material ~~with~~impact on the ~~evaluation~~financial ~~required~~statements byunless ~~Rule~~otherwise ~~13a-15(d)~~disclosed, ofand the ~~Exchange Act~~Company ~~that~~does ~~occurred~~not ~~during~~believe ~~the~~that ~~quarter~~there ~~ended~~are ~~September~~any ~~30,~~other ~~2024,~~new accounting pronouncements that ~~has~~have ~~materially~~been ~~affected~~issued orthat ismight ~~reasonably~~have ~~likely~~a tomaterial ~~materially~~impact ~~affect, our~~on ~~internal~~its ~~control~~financial ~~over~~position ~~financial~~or ~~reporting~~results of operations.

7Item 3. Quantitative and Qualitative Disclosures About Market Risk

~~Part~~A smaller ~~II:~~reporting ~~Other~~company ~~Information~~is not required to provide the information required by this Item.

Item 4. 1Controls -and ~~Legal Proceedings~~Procedures

We maintain ~~know~~disclosure ofcontrols noand ~~material,~~procedures ~~existing or~~designed ~~pending~~to ~~legal~~ensure ~~proceedings~~that ~~against~~information ~~our~~required ~~company,~~to ~~nor~~be ~~are~~disclosed wein ~~involved~~reports filed under the Securities Exchange Act of 1934, as aamended, ~~plaintiff~~is inrecorded, ~~any~~processed, ~~material~~summarized, ~~proceeding~~and orreported ~~pending~~within ~~litigation. There~~the ~~are~~time noperiods ~~proceedings~~specified in ~~which~~the ~~any~~SEC ofrules and ~~our directors~~forms, ~~officers,~~and orthat ~~any~~such ~~affiliates,~~information oris ~~any~~accumulated ~~registered~~and orcommunicated ~~beneficial~~to ~~shareholder~~our management, isincluding ~~an adverse~~our ~~party~~principal orexecutive ~~has~~officer aand principal ~~material~~financial ~~interest~~officer, ~~adverse~~as appropriate, to ~~our~~allow ~~interests~~timely decisions regarding required disclosure.

~~Item~~In designing ~~1A.~~and ~~Risk~~evaluating ~~Factors~~our disclosure controls and procedures, management recognized that any controls and procedures, no matter how well designed and operated, can provide only reasonable assurance of achieving the desired control objectives.

~~There~~As required ~~have~~by ~~been~~SEC noRule ~~material changes~~15d-15, toour management carried out an evaluation, under the ~~risk~~supervision ~~factors~~and ~~previously~~with ~~disclosed~~the inparticipation of our ~~Annual~~principal executive ~~Report~~officer onand ~~Form 10-K~~principal ~~for~~financial officer, of the ~~year~~effectiveness ~~ended~~of ~~December 31,~~our ~~2023~~disclosure controls and procedures as of the end of the period covered by this Quarterly Report on Form 10-Q.

~~Item~~Based on 2.that ~~Unregistered~~evaluation, ~~Sales~~our ofprincipal ~~Equity~~executive ~~Securities~~officer and ~~Use~~principal financial officer concluded that our disclosure controls and procedures were effective at a reasonable assurance level as of ~~Proceeds~~the end of the period covered by this report.

~~None.~~6

~~Item~~Changes in 3.Internal ~~Defaults~~Control ~~upon~~over ~~Senior~~Financial ~~Securities~~Reporting

~~None~~There has been no change in our internal control over financial reporting identified in connection with the evaluation required by Rule 13a-15(d) of the Exchange Act that occurred during the quarter ended March 31, 2024, that has materially affected or is reasonably likely to materially affect our internal control over financial reporting.

~~Item~~Part II: 4.Other ~~Mine Safety Disclosures~~Information

~~None~~Item 1 - Legal Proceedings

~~Item~~We know 5of no material, existing or pending legal proceedings against our company, nor are we involved as a plaintiff in any material proceeding or pending litigation. ~~Other~~There ~~Information~~are no proceedings in which any of our directors, officers, or any affiliates, or any registered or beneficial shareholder, is an adverse party or has a material interest adverse to our interests.

~~None~~Item 1A. Risk Factors

~~Item~~There have 6.been ~~Exhibits~~no material changes to the risk factors previously disclosed in our Annual Report on Form 10-K for the year ended December 31, 2024.

Exhibit Number		Description of Exhibit
4.1*		Convertible Promissory Note, dated February 6, 2024, with Exchange Listing LLC
4.2*		Convertible Promissory Note, dated May 21, 2024, with Jefferson Street Capital LLC.
4.3*		Amended Convertible Promissory Note, dated May 16, 2024, with Sky Holdings Ltd.
4.4*		Convertible Promissory Note, dated July 3, 2024, with 1800 Diagonal Lending LLC
4.5**		Certificate of Designations Series B Preferred, dated September 23, 2024
4.6**		Convertible Promissory Note, dated September 25, 2024, with 1800 Diagonal Lending LLC
10.1*		Share Purchase Agreement, dated March 27, 2024, with shareholder of Al Shola Al Modea Distribution LLC.
10.2*		Asset Purchase Agreement, dated April 26, 2024, with Rasmus Refer.
10.3*		Stock Purchase Agreement, dated May 21, 2024, with Jefferson Street Capital LLC.
10.4*		Asset Purchase Agreement, dated June 21, 2024, with Ilustrato Pictures International Inc.
10.5**		Loan Agreement, dated September 20, 2024, with J.J. Astor & Co.
10.6**		Stock Purchase Agreement, dated October 16, 2024, with Safeguard Investment LLC.
23.1*		Audit review report Al shola Gas, by NBN Auditing of Accounts, dated August 9, 2024
31.1**		Certification of Chief Executive Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
31.2**		Certification of Chief Financial Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
32.1**		Certification of Chief Executive Officer and Chief Financial Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
101.INS**		Inline XBRL Instance Document
101.SCH**		Inline XBRL Taxonomy Extension Schema Document
101.CAL**		Inline XBRL Taxonomy Extension Calculation Linkbase Document
101.LAB**		Inline XBRL Taxonomy Extension Label Linkbase Document
101.PRE**		Inline XBRL Taxonomy Extension Presentation Linkbase Document
101.DEF**		Inline XBRL Taxonomy Extension Definition Linkbase Document
104**		Cover Page Interactive Data File formatted as Inline XBRL and contained in Exhibit 101

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds

* Filed previouslyNone.

**Item 3. ~~Provided~~Defaults ~~herewith~~upon Senior Securities

8None

~~SIGNATURES~~Item 4. Mine Safety Disclosures

~~Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.~~None

Quality Industrial Corp.
Date:	November 19, 2024
By:	/s/ John-Paul Backwell
	John-Paul Backwell
Title:	Chief Executive Officer (principal executive)

Item 5. Other Information

~~By: /s/ Krishnan Krishnamoorthy Krishnan Krishnamoorthy Title: Chief Financial Officer (principal accounting, and financial officer)~~None

9Item 6. Exhibits

1134884 false --12-31 Q3 0001393781 0001393781 2024-01-01 2024-09-30 0001393781 2024-11-18 0001393781 2024-09-30 0001393781 2023-12-31 0001393781 qind:IlustratoPicturesInternationalIncMember 2024-09-30 0001393781 qind:IlustratoPicturesInternationalIncMember 2023-12-31 0001393781 2024-07-01 2024-09-30 0001393781 2023-07-01 2023-09-30 0001393781 2023-01-01 2023-09-30 0001393781 us-gaap:PreferredStockMember 2023-12-31 0001393781 us-gaap:CommonStockMember 2023-12-31 0001393781 us-gaap:AdditionalPaidInCapitalMember 2023-12-31 0001393781 us-gaap:NoncontrollingInterestMember 2023-12-31 0001393781 us-gaap:RetainedEarningsMember 2023-12-31 0001393781 us-gaap:PreferredStockMember 2024-01-01 2024-03-31 0001393781 us-gaap:CommonStockMember 2024-01-01 2024-03-31 0001393781 us-gaap:AdditionalPaidInCapitalMember 2024-01-01 2024-03-31 0001393781 us-gaap:NoncontrollingInterestMember 2024-01-01 2024-03-31 0001393781 us-gaap:RetainedEarningsMember 2024-01-01 2024-03-31 0001393781 2024-01-01 2024-03-31 0001393781 us-gaap:PreferredStockMember 2024-03-31 0001393781 us-gaap:CommonStockMember 2024-03-31 0001393781 us-gaap:AdditionalPaidInCapitalMember 2024-03-31 0001393781 us-gaap:NoncontrollingInterestMember 2024-03-31 0001393781 us-gaap:RetainedEarningsMember 2024-03-31 0001393781 2024-03-31 0001393781 us-gaap:PreferredStockMember 2024-04-01 2024-06-30 0001393781 us-gaap:CommonStockMember 2024-04-01 2024-06-30 0001393781 us-gaap:AdditionalPaidInCapitalMember 2024-04-01 2024-06-30 0001393781 us-gaap:NoncontrollingInterestMember 2024-04-01 2024-06-30 0001393781 us-gaap:RetainedEarningsMember 2024-04-01 2024-06-30 0001393781 2024-04-01 2024-06-30 0001393781 us-gaap:CommonStockMember 2024-06-30 0001393781 us-gaap:AdditionalPaidInCapitalMember 2024-06-30 0001393781 us-gaap:NoncontrollingInterestMember 2024-06-30 0001393781 us-gaap:RetainedEarningsMember 2024-06-30 0001393781 2024-06-30 0001393781 us-gaap:CommonStockMember 2024-07-01 2024-09-30 0001393781 us-gaap:AdditionalPaidInCapitalMember 2024-07-01 2024-09-30 0001393781 us-gaap:PreferredStockMember 2024-07-01 2024-09-30 0001393781 us-gaap:NoncontrollingInterestMember 2024-07-01 2024-09-30 0001393781 us-gaap:RetainedEarningsMember 2024-07-01 2024-09-30 0001393781 us-gaap:PreferredStockMember 2024-09-30 0001393781 us-gaap:CommonStockMember 2024-09-30 0001393781 us-gaap:AdditionalPaidInCapitalMember 2024-09-30 0001393781 us-gaap:NoncontrollingInterestMember 2024-09-30 0001393781 us-gaap:RetainedEarningsMember 2024-09-30 0001393781 us-gaap:PreferredStockMember 2022-12-31 0001393781 us-gaap:CommonStockMember 2022-12-31 0001393781 us-gaap:AdditionalPaidInCapitalMember 2022-12-31 0001393781 us-gaap:RetainedEarningsMember 2022-12-31 0001393781 2022-12-31 0001393781 us-gaap:PreferredStockMember 2023-01-01 2023-03-31 0001393781 us-gaap:CommonStockMember 2023-01-01 2023-03-31 0001393781 us-gaap:AdditionalPaidInCapitalMember 2023-01-01 2023-03-31 0001393781 us-gaap:RetainedEarningsMember 2023-01-01 2023-03-31 0001393781 2023-01-01 2023-03-31 0001393781 us-gaap:PreferredStockMember 2023-03-31 0001393781 us-gaap:CommonStockMember 2023-03-31 0001393781 us-gaap:AdditionalPaidInCapitalMember 2023-03-31 0001393781 us-gaap:RetainedEarningsMember 2023-03-31 0001393781 2023-03-31 0001393781 us-gaap:CommonStockMember 2023-04-01 2023-06-30 0001393781 us-gaap:AdditionalPaidInCapitalMember 2023-04-01 2023-06-30 0001393781 us-gaap:RetainedEarningsMember 2023-04-01 2023-06-30 0001393781 2023-04-01 2023-06-30 0001393781 us-gaap:PreferredStockMember 2023-04-01 2023-06-30 0001393781 us-gaap:PreferredStockMember 2023-06-30 0001393781 us-gaap:CommonStockMember 2023-06-30 0001393781 us-gaap:AdditionalPaidInCapitalMember 2023-06-30 0001393781 us-gaap:RetainedEarningsMember 2023-06-30 0001393781 2023-06-30 0001393781 us-gaap:PreferredStockMember 2023-07-01 2023-09-30 0001393781 us-gaap:CommonStockMember 2023-07-01 2023-09-30 0001393781 us-gaap:AdditionalPaidInCapitalMember 2023-07-01 2023-09-30 0001393781 us-gaap:RetainedEarningsMember 2023-07-01 2023-09-30 0001393781 us-gaap:PreferredStockMember 2023-09-30 0001393781 us-gaap:CommonStockMember 2023-09-30 0001393781 us-gaap:AdditionalPaidInCapitalMember 2023-09-30 0001393781 us-gaap:RetainedEarningsMember 2023-09-30 0001393781 2023-09-30 0001393781 qind:IlustratoPricturesInternationalMember 2022-05-28 2022-05-28 0001393781 us-gaap:WarrantMember 2024-09-30 0001393781 srt:MinimumMember us-gaap:MachineryAndEquipmentMember 2024-09-30 0001393781 srt:MaximumMember us-gaap:MachineryAndEquipmentMember 2024-09-30 0001393781 srt:MinimumMember us-gaap:VehiclesMember 2024-09-30 0001393781 srt:MaximumMember us-gaap:VehiclesMember 2024-09-30 0001393781 srt:MinimumMember us-gaap:FurnitureAndFixturesMember 2024-09-30 0001393781 srt:MaximumMember us-gaap:FurnitureAndFixturesMember 2024-09-30 0001393781 qind:CommonSharesMember 2024-07-01 2024-09-30 0001393781 qind:CommonSharesMember 2023-07-01 2023-09-30 0001393781 qind:CommonSharesMember 2024-01-01 2024-09-30 0001393781 qind:CommonSharesMember 2023-01-01 2023-09-30 0001393781 qind:AlSholaGasMember 2023-08-25 2023-08-25 0001393781 2023-08-25 2023-08-25 0001393781 us-gaap:CashMember 2024-09-30 0001393781 us-gaap:CashMember 2023-12-31 0001393781 qind:CashAtBankMember 2024-09-30 0001393781 qind:CashAtBankMember 2023-12-31 0001393781 qind:OneToThirtyDaysMember 2024-09-30 0001393781 qind:ThirtyOneToSixtyDaysMember 2024-09-30 0001393781 qind:SixtyOneToNinetyDaysMember 2024-09-30 0001393781 qind:AboveNinetyDaysMember 2024-09-30 0001393781 qind:IlustratoPicturesInternationalIncMember 2024-09-30 0001393781 qind:IlustratoPicturesInternationalIncMember 2023-12-31 0001393781 qind:IntercompanyLoanAgreementMember 2024-01-01 2024-09-30 0001393781 qind:IlustratoPicturesInternationalIncMember 2024-01-01 2024-09-30 0001393781 qind:SimpleInterestMember 2024-01-01 2024-09-30 0001393781 qind:SimpleInterestMember 2024-09-30 0001393781 2023-07-27 0001393781 2024-03-27 2024-03-27 0001393781 2024-03-27 0001393781 qind:MahavirInvestmentsLimitedMember 2024-03-27 0001393781 us-gaap:GoodwillMember 2024-03-27 0001393781 us-gaap:GoodwillMember 2024-03-31 0001393781 us-gaap:GoodwillMember 2024-01-01 2024-09-30 0001393781 qind:AlSholaGasMember 2024-09-30 0001393781 us-gaap:GoodwillMember 2024-09-30 0001393781 qind:OperatingLeaseLiabilitiesMember 2024-09-30 0001393781 qind:OperatingLeaseLiabilitiesMember 2024-01-01 2024-09-30 0001393781 qind:OperatingLeaseLiabilitiesMember 2024-07-01 2024-09-30 0001393781 qind:RBCapitalPartnersIncMember 2022-08-03 0001393781 qind:RBCapitalPartnersIncOneMember 2023-03-17 0001393781 qind:JeffersonStreetCapitalLLCMember 2023-05-23 0001393781 qind:JeffersonStreetCapitalLLCMember 2024-04-01 2024-09-30 0001393781 2023-07-31 0001393781 qind:DiagonalLendingNoteMember 2023-07-31 2023-07-31 0001393781 2023-08-15 0001393781 qind:DiagonalLendingNoteMember 2023-08-15 2023-08-15 0001393781 2023-06-16 0001393781 qind:SkyHoldingsLtdMember 2023-06-16 0001393781 qind:SkyHoldingsLtdMember 2024-05-16 0001393781 2024-04-01 2024-09-30 0001393781 qind:SkyHoldingsLtdMember 2024-09-30 0001393781 qind:RBCapitalPartnersIncMember 2023-12-20 0001393781 2023-12-20 0001393781 qind:RBCapitalPartnersIncMember 2023-12-20 2023-12-20 0001393781 2023-12-20 2023-12-20 0001393781 2024-01-18 0001393781 2024-01-18 2024-01-18 0001393781 qind:DiagonalLendingLLCMember 2024-01-18 2024-01-18 0001393781 2024-02-06 0001393781 qind:ExchangeListingLLCMember 2024-02-06 0001393781 2024-03-12 0001393781 2024-03-12 2024-03-12 0001393781 qind:DiagonalLendingLLCMember 2024-03-12 2024-03-12 0001393781 qind:RBCapitalPartnersIncMember 2024-03-12 2024-03-12 0001393781 2024-05-21 0001393781 qind:JeffersonStreetCapitalLLCMember 2024-05-21 0001393781 2024-05-21 2024-05-21 0001393781 qind:JeffersonStreetCapitalLLCMember 2024-09-30 0001393781 2024-07-03 0001393781 2024-07-03 2024-07-03 0001393781 2024-07-20 0001393781 2024-07-20 2024-07-20 0001393781 2024-07-25 0001393781 2024-07-25 2024-07-25 0001393781 qind:ConvertibleNotesMember 2024-09-30 0001393781 2023-04-19 2023-04-19 0001393781 2023-04-19 0001393781 2023-05-23 2023-05-23 0001393781 2023-05-23 0001393781 qind:OneToThirtyDaysMember 2024-09-30 0001393781 qind:ThirtyOneToSixtyDaysMember 2024-09-30 0001393781 qind:SixtyOneToNinetyDaysMember 2024-09-30 0001393781 qind:AboveNinetyDaysMember 2024-09-30 0001393781 qind:RBCapitalPartnersIncMember us-gaap:ConvertibleNotesPayableMember 2024-01-01 2024-09-30 0001393781 qind:RBCapitalPartnersIncMember us-gaap:ConvertibleNotesPayableMember 2024-09-30 0001393781 qind:RBCapitalPartnersIncOneMember us-gaap:ConvertibleNotesPayableMember 2024-01-01 2024-09-30 0001393781 qind:RBCapitalPartnersIncOneMember us-gaap:ConvertibleNotesPayableMember 2024-09-30 0001393781 qind:JeffersonMember us-gaap:ConvertibleNotesPayableMember 2024-01-01 2024-09-30 0001393781 qind:JeffersonMember us-gaap:ConvertibleNotesPayableMember 2024-09-30 0001393781 qind:SkyHoldingsMember us-gaap:ConvertibleNotesPayableMember 2024-01-01 2024-09-30 0001393781 qind:SkyHoldingsMember us-gaap:ConvertibleNotesPayableMember 2024-09-30 0001393781 qind:RBCapitalPartnersIncTwoMember us-gaap:ConvertibleNotesPayableMember 2024-01-01 2024-09-30 0001393781 qind:RBCapitalPartnersIncTwoMember us-gaap:ConvertibleNotesPayableMember 2024-09-30 0001393781 qind:SeanLeviMember us-gaap:ConvertibleNotesPayableMember 2024-01-01 2024-09-30 0001393781 qind:SeanLeviMember us-gaap:ConvertibleNotesPayableMember 2024-09-30 0001393781 qind:ExchangeListingLLCMember us-gaap:ConvertibleNotesPayableMember 2024-01-01 2024-09-30 0001393781 qind:ExchangeListingLLCMember us-gaap:ConvertibleNotesPayableMember 2024-09-30 0001393781 qind:JeffersonOneMember us-gaap:ConvertibleNotesPayableMember 2024-01-01 2024-09-30 0001393781 qind:JeffersonOneMember us-gaap:ConvertibleNotesPayableMember 2024-09-30 0001393781 qind:OneEightZeroZeroDiagonalLendingLtdMember us-gaap:ConvertibleNotesPayableMember 2024-01-01 2024-09-30 0001393781 qind:OneEightZeroZeroDiagonalLendingLtdMember us-gaap:ConvertibleNotesPayableMember 2024-09-30 0001393781 qind:ThousandEightHundredDiagonalLendingOneMember us-gaap:ConvertibleNotesPayableMember 2024-01-01 2024-09-30 0001393781 qind:ThousandEightHundredDiagonalLendingOneMember us-gaap:ConvertibleNotesPayableMember 2024-09-30 0001393781 qind:JJAstorCoMember us-gaap:ConvertibleNotesPayableMember 2024-01-01 2024-09-30 0001393781 qind:JJAstorCoMember us-gaap:ConvertibleNotesPayableMember 2024-09-30 0001393781 us-gaap:ConvertibleNotesPayableMember 2024-01-01 2024-09-30 0001393781 us-gaap:ConvertibleNotesPayableMember 2024-09-30 0001393781 qind:OneThousandEightHundredDiagonalLendingLtdOneMember us-gaap:ConvertibleNotesPayableMember 2024-01-01 2024-09-30 0001393781 qind:OneThousandEightHundredDiagonalLendingLtdTwoMember us-gaap:ConvertibleNotesPayableMember 2024-01-01 2024-09-30 0001393781 qind:JeffersonThreeMember us-gaap:ConvertibleNotesPayableMember 2024-01-01 2024-09-30 0001393781 qind:JJAstorCoOneMember us-gaap:ConvertibleNotesPayableMember 2024-01-01 2024-09-30 0001393781 qind:OneThousandEightHundredDiagonalLendingThereeMember us-gaap:ConvertibleNotesPayableMember 2024-01-01 2024-09-30 0001393781 qind:OneEightZeroZeroDiagonalLendingThreeMember us-gaap:ConvertibleNotesPayableMember 2024-01-01 2024-09-30 0001393781 qind:JeffersonCapitalJCMember us-gaap:ConvertibleNotesPayableMember 2024-01-01 2024-09-30 0001393781 qind:MahavirLoanMember 2024-09-30 0001393781 qind:MahavirLoanMember 2023-12-31 0001393781 qind:ArtelliqLoanMember 2024-09-30 0001393781 qind:ArtelliqLoanMember 2023-12-31 0001393781 qind:PayableAlSholaGasMember 2024-09-30 0001393781 qind:OtherPayablesMember 2024-09-30 0001393781 qind:AlSholaGasMember 2024-03-27 0001393781 qind:AlSholaGasMember 2024-07-01 2024-09-30 0001393781 qind:AlSholaGasMember 2024-01-01 2024-09-30 0001393781 qind:AlSholaGasMember 2024-09-30 0001393781 qind:AlSholaGasMember 2024-03-27 2024-03-27 0001393781 qind:DUSTERMember 2024-09-30 0001393781 qind:XTRAILMember 2024-09-30 0001393781 qind:KICKSMember 2024-09-30 0001393781 qind:URWANMember 2024-09-30 0001393781 qind:MICROBUSMember 2024-09-30 0001393781 qind:SUNNYMember 2024-09-30 0001393781 qind:ASXMember 2024-09-30 0001393781 qind:YARISMember 2024-09-30 0001393781 qind:RenaultMember 2024-09-30 0001393781 us-gaap:PreferredStockMember 2024-09-30 0001393781 us-gaap:PreferredStockMember 2023-12-31 0001393781 qind:RBCapitalPartnersIncMember 2023-03-17 0001393781 2023-03-17 2023-03-17 0001393781 qind:NicolasLinkMember 2023-05-04 2023-05-04 0001393781 qind:JohnPaulBackwellMember 2023-05-04 2023-05-04 0001393781 qind:CarstenKjemsFalkMember 2023-05-04 2023-05-04 0001393781 qind:KrishnanKrishnamoorthyMember 2023-05-04 2023-05-04 0001393781 qind:LouiseBennettMember 2023-05-04 2023-05-04 0001393781 qind:ExchangeListingLLCMember 2023-05-08 2023-05-08 0001393781 qind:JeffersonStreetCapitalLLCMember 2023-06-01 2023-06-01 0001393781 2023-07-17 2023-07-17 0001393781 2023-08-25 0001393781 qind:NicolasLinkMember 2023-09-15 0001393781 qind:NicolasLinkMember 2023-09-15 2023-09-15 0001393781 qind:JohnPaulBackwellMember 2023-09-15 0001393781 qind:JohnPaulBackwellMember 2023-09-15 2023-09-15 0001393781 qind:CarstenKjemsFalkMember 2023-09-15 0001393781 qind:CarstenKjemsFalkMember 2023-09-15 2023-09-15 0001393781 2023-09-15 0001393781 2023-09-15 2023-09-15 0001393781 qind:JeffersonStreetCapitalLLCMember 2024-01-11 2024-01-11 0001393781 qind:JeffersonStreetCapitalLLCMember 2024-01-19 2024-01-19 0001393781 qind:JeffersonStreetCapitalLLCMember 2024-02-15 2024-02-15 0001393781 2024-04-26 0001393781 qind:JeffersonStreetCapitalLLCMember 2024-05-07 2024-05-07 0001393781 qind:PaulKeelyMember 2024-04-30 2024-04-30 0001393781 qind:JohnPaulBackwellMember 2024-05-14 2024-05-14 0001393781 qind:JeffersonStreetCapitalLLCMember 2024-06-03 2024-06-03 0001393781 qind:JeffersonStreetCapitalLLCMember 2024-06-05 2024-06-05 0001393781 2024-07-09 2024-07-09 0001393781 2024-08-09 2024-08-09 0001393781 2024-09-09 2024-09-09 0001393781 2024-09-09 0001393781 2024-09-13 2024-09-13 0001393781 2024-09-13 0001393781 qind:IlustratoPicturesInternationalIncMember 2024-09-21 2024-09-21 0001393781 qind:IlustratoPicturesInternationalIncMember us-gaap:SeriesBPreferredStockMember 2024-09-21 2024-09-21 0001393781 qind:JJAstorCoOneMember 2024-09-21 2024-09-21 0001393781 qind:JeffersonStreetCapitalLLCMember 2024-09-24 2024-09-24 0001393781 qind:AlSholaGasMember 2024-03-27 0001393781 qind:AlSholaGasMember 2023-01-01 2023-12-31 0001393781 qind:TrancheOneMember 2024-01-01 2024-09-30 0001393781 qind:TrancheTwoMember 2024-01-01 2024-09-30 0001393781 qind:AlSholaGasMember 2024-01-01 2024-03-31 0001393781 us-gaap:SubsequentEventMember 2024-10-16 2024-10-16 0001393781 us-gaap:CommonStockMember us-gaap:SubsequentEventMember 2024-10-22 2024-10-22 0001393781 qind:JeffersonStreetCapitalLLCMember us-gaap:SubsequentEventMember 2024-10-22 0001393781 us-gaap:SubsequentEventMember 2024-10-22 2024-10-22 0001393781 2024-05-23 2024-05-23 0001393781 us-gaap:SubsequentEventMember 2024-11-14 2024-11-14 0001393781 us-gaap:SeriesBPreferredStockMember us-gaap:SubsequentEventMember 2024-11-18 0001393781 us-gaap:SubsequentEventMember 2024-11-18 2024-11-18 0001393781 us-gaap:CommonClassAMember us-gaap:SubsequentEventMember 2024-11-18 0001393781 us-gaap:SubsequentEventMember 2024-11-18 0001393781 us-gaap:ConvertibleCommonStockMember 2024-11-18 xbrli:shares iso4217:USD iso4217:USD xbrli:shares xbrli:pure

Exhibit Number		Description of Exhibit
2.1*		Share Purchase Agreement, dated March 27, 2024, with shareholder of Al Shola Al Modea Distribution LLC.
2.2*		Amendment to Share Purchase Agreement, dated April 8, 2025, with shareholder of Al Shola Al Modea Distribution LLC,
4.1*		Convertible Promissory Note, dated February 6, 2024, with Exchange Listing LLC
31.1**		Certification of Chief Executive Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
31.2**		Certification of Chief Financial Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
32.1**		Certification of Chief Executive Officer and Chief Financial Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
101.INS**		Inline XBRL Instance Document
101.SCH**		Inline XBRL Taxonomy Extension Schema Document
101.CAL**		Inline XBRL Taxonomy Extension Calculation Linkbase Document
101.LAB**		Inline XBRL Taxonomy Extension Label Linkbase Document
101.PRE**		Inline XBRL Taxonomy Extension Presentation Linkbase Document
101.DEF**		Inline XBRL Taxonomy Extension Definition Linkbase Document
104**		Cover Page Interactive Data File formatted as Inline XBRL and contained in Exhibit 101

*	Filed previously

**	Provided herewith

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

Quality Industrial Corp.

Date:	June 4, 2025

By:	/s/ John-Paul Backwell
	John-Paul Backwell

Title:	Chief Executive Officer (Principal executive)

By:

s/ Krishnan Krishnamoorthy

Krishnan Krishnamoorthy

Title

Chief Financial Officer

(principal accounting, and financial officer)

Filing Compare · Quality Industrial Corp.