Olenox Industries Inc 2026年季度报告

FORM 10-Q ☒QUARTERLY REPORT PURSUANT TO SECTION13OR15(d) OF THE SECURITIES EXCHANGE ACT OF1934 For the quarterly period endedMarch 31, 2026 OR ☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ____________ to ____________ Commission File Number: 001-38037 OLENOX INDUSTRIES INC.(Exact name of registrant as specified in its charter) Delaware95-4463937(State or other jurisdiction of(I.R.S. Employer (936) 323-6332(Registrant’s telephone number, including area code) N/A(Former name, former address and formal fiscal year, if changed since last report)Securities registered pursuant to Section 12(b) of the Act: Name of each exchange on whichregisteredThe NasdaqStock Market LLC Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the SecuritiesExchange 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 submittedpursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that theregistrant was required to submit suchfiles). Yes☒No☐ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smallerreporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smallerreporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act. If an emerging growth company, indicate by check mark if the registrant has elected not to use theextended transition period forcomplying with any new or revised financial accounting standards provided pursuant to Section13(a) of the Exchange Act.☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of theAct). Yes☐No☒ As of July 30, 2026, the issuer had a total of 1,413,901 shares of the registrant’s common stock, $0.01par value, outstanding. OLENOX INDUSTRIES INC. AND SUBSIDIARIESFORM 10-Q TABLE OF CONTENTS PageNumberPARTI. FINANCIAL INFORMATION1ITEM1.Financial Statements1Condensed Consolidated Balance Sheets as of March 31, 2026 (Unaudited) and December 31, 20251Condensed Consolidated Statements of Operations for the Three Months Ended March 31, 2026 and 2025(Unaudited)2Condensed Consolidated Statements of Changes in Stockholders’ Equity for the Three Months Ended March31, 2026 and 2025 (Unaudited)3Condensed Consolidated Statements of Cash Flows for the Three Months Ended March 31, 2026 and 2025(Unaudited)4Notes to CondensedConsolidated Financial Statements (Unaudited)5ITEM 2.Management’s Discussion and Analysis of Financial Condition and Result of Operations22ITEM3.Quantitative and Qualitative Disclosures About Market Risk27ITEM4.Controls and Procedures27PART II. OTHER INFORMATION28ITEM1.Legal Proceedings28ITEM1A.Risk Factors28ITEM2.Unregistered Sales of Equity Securities and Use of Proceeds28ITEM3.Defaults Upon Senior Securities28ITEM4.Mine Safety Disclosures28ITEM5.Other Information28ITEM6.Exhibits29SIGNATURES39 OLENOX INDUSTRIES INC.CONDENSEDCONSOLIDATED STATEMENTS OF OPERATIONSFOR THE THREE MONTHS ENDED MARCH 31, 2026 AND 2025(UNAUDITED) OLENOX INDUSTRIES INC.CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS’ EQUITYFOR THE THREE MONTHS ENDED MARCH 31, 2026 AND 2025(UNAUDITED) OLENOX INDUSTRIES INC.CONDENSEDCONSOLIDATED STATEMENTS OF CASH FLOWSFOR THE THREE MONTHS ENDED MARCH 31, 2026 AND 2025(Unaudited) OLENOX INDUSTRIES INC.NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS 1. DESCRIPTION OF BUSINESS Olenox Industries Inc., previously known as Safe & Green Holdings Corp., (collectively with its subsidiaries, the “Company,” “we”,“us” or “our”)is a vertically integrated energy company operating across multiple business lines, including oil and gas, energyservices, and energy technologies. The Company is focused on acquiring, optimizing, and scaling energy-related infrastructure andoperating assets across key U.S. markets. On February 2, 2025, the Company entered into an Agreement and Plan of Merger (the “Merger Agreement”) by and between theCompany and New Asia Holdings, Inc., a Nevada corporation (“NAHD”), pursuant to which NAHD was merged into a subsidiary ofthe Company (the “Merger”). Following the Merger, NAHD and its operating subsidiaries became indirect, wholly owned subsidiariesof the Company. As merger consideration, the Company issued four million (4,000,000) shares of Series A non-voting convertiblepreferred shares of the Company, par value $1.00 (the “Series A Preferred Shares”), to NAHD’s shareholders, with each Series APreferred Share having the right to convert into 640 shares of c