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Quality Industrial Corp. Outlines Its Progress Following the Filing of Second Quarter of 2022 Disclosure
Quality Industrial Corp. Outlines Its Progress Following the Filing of Second Quarter of 2022 Disclosure.
About this update from Quality Industrial Corp.
[{"type":"text","content":"SAN FRANCISCO, CA / ACCESSWIRE / August 17, 2022 / Quality Industrial Corp. (OTCQB:QIND), today filed its second quarter of 2022 results. Although the company did not file any revenue during the period, it was a productive quarter during which the company laid solid foundations for future growth. As a result of progress made, the company now projects upwards of $20-25 million revenue during the third quarter.QIND made significant improvements during the second quarter. ILUS International (Ilustrato Pictures International Inc., OTC: ILUS), which acquired the majority stake of the company, immediately implemented the change of control, and made changes to its board of directors to ramp up QIND's operations and close strategically aligned, revenue generating deals. This put QIND in the position to sign its first binding Letter of Intent and move towards its first of several acquisitions. During the second quarter, QIND also filed the necessary documentation to complete its name and ticker change from Wikisoft Corp. (OTCQB:WSFT). This change was approved and took place at the start of the third quarter.QIND has substantial work in progress which was not accounted for in its second quarter results. On the 30th of June 2022, QIND signed a binding Letter of Intent to acquire a 51% interest in a Dubai headquartered Process Manufacturing company. The Company, which is currently generating annual revenue of $100 million, manufactures custom solutions for the Oil and Gas, Energy, Water Desalination, Wastewater, Offshore and Public Safety sectors. Following signing of the final agreements and auditing of the process manufacturer's second quarter financials, QIND will be able to consolidate and file an 8-K in order that the audited figures are reflected in its financial results. QIND has already successfully completed its first tranche payment of $1 million towards completion of the acquisition. Following the strong progress that has been made during the second quarter, QIND is now positioned to execute further deals which it is currently negotiating.Quality Industrial Corp.'s Chairman and ILUS CEO, Nicolas Link, commented: "I am pleased with the progress made in a very short period since and we are confident that we will achieve our 2022 revenue forecast. With such awesome deals in negotiation, we are hard at work to add the aligned bu...