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olivLaw · US equity research

Olenox Industries Inc. OLOX

Wholesale-Lumber & Other Construction Materials · SIC 5030 · Vertical: Wholesale-Lumber & Other Construction Materials (SIC 5030)

0.73USD−2.48% · 1 dayClose 04 Nov 2026

Olenox Industries builds modular structures from recycled shipping containers and now also runs oil and gas, IoT and crypto mining operations. The company is under strain, with falling revenue, large net losses and going-concern doubts, while the CS Digital acquisition added a crypto mining segment.

At the close of 04 Nov 2026, Olenox Industries Inc. (OLOX) stock was 0.73 USD (−2.48% on the day), with market capitalisation 1.2 m USD, beta 1.00, 52-week range 0.69–60.70 USD. Latest reported quarter (Q2 2026): revenue of 2.1 m USD (+193.7% YoY), net income of -3.2 m USD, diluted EPS -3.11 USD.

Data as of · AI analysis dated · Source: SEC filings and closing prices, computed by olivLaw.

Market cap
1.2 m USD
shares as of 18 Aug 2026
P/E (TTM)
unavailable
Diluted EPS TTM -165.22 · TTM to 31 Dec 2025
E/P (TTM)
-22,741.91%
TTM to 31 Dec 2025
Dividend yield
unavailable
Beta (2y)
1.00
Volatility (1y) 180%
52-week range
0.6960.70

Price history

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Technical reading

RSI (14)
38.9
weak (30–45)
Bollinger (20, 2)
0.64 – 0.98
in the lower half of the band · %B 0.26 · band width 42.2%
SMA 50 / 200
0.88 / 5.70
downtrend (price < SMA50 < SMA200)
MACD (12, 26, 9)
-0.09 / -0.10
MACD above signal

Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).

Performance

CompanyS&P 500vs S&P 500Vertical median
1 month−17.4%−2.0%−15.5 pp—
3 months−84.5%−2.2%−82.3 pp—
6 months−84.2%+4.3%−88.5 pp—
Year to date−96.1%+10.6%−106.7 pp—
1 year−96.7%+10.5%−107.2 pp+25.7%
3 years−100.0%+73.7%−173.7 pp−55.7%
5 years−100.0%+61.7%−161.7 pp—
Max drawdown (1y)
−98.9%
19 Nov 2025 → 16 Oct 2026
Max drawdown (5y)
−100.0%
08 Nov 2021 → 16 Oct 2026
Compound annual growth (5y)
−86.8%
S&P 500 +10.1%

Price returns, dividends excluded.

Quarterly results

Latest quarter: Q2 2026 · 30 Jun 2026

Revenue
2.1 m USD
+193.7% YoY
Net income
-3.2 m USD
unavailable YoY
Diluted EPS
-3.11
unavailable YoY
net / operating
-153.1% / -138.7%

Quarterly margins

Quarterly statements · USD

Fiscal yearQ3 '24Q4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26
Revenue1.8 m1.0 m566.4 k721.4 k1.1 m613.7 k285.3 k2.1 m
Cost of revenue1.9 m1.6 m890.1 k1.7 m1.4 m3.3 m486.1 k1.9 m
Gross profit-125.6 k-558.6 k-323.8 k-994.5 k-308.2 k-2.7 m-200.8 k247.5 k
Operating income-2.2 m-4.7 m-1.8 m-3.7 m-2.5 m-6.0 m-2.9 m-2.9 m
Depreciation & amortisation105.2 k323.3 k92.1 k348.2 k ≈119.7 k-47.8 k171.5 k1.9 m ≈
Interest expense864.0 k722.9 k603.1 k936.0 k553.1 k812.8 k365.8 k316.5 k
Pre-tax income-3.7 m-6.5 m-2.7 m-4.6 m-5.3 m-6.2 m-2.7 m-3.2 m
Net income-3.7 m-6.5 m-2.7 m-4.6 m-5.3 m-6.2 m-2.7 m-3.2 m
Diluted EPS-113.82—-286.83-298.05-12.68—-4.38-3.11
Operating cash flow——-1.3 m-1.9 m ≈——-1.9 m797.1 k ≈
Capex780 ≈82.4 k73.7 k291.2 k ≈-5.7 k ≈———

≈ derived quarter (cumulative difference / share-days average)

E/P over time

E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.

Fiscal years

Fiscal year20182019202020212022202320242025
Revenue8.2 m3.0 m8.8 m38.3 m24.4 m16.5 m5.0 m3.0 m
Revenue YoY+61.8%−63.6%+193.3%+337.9%−36.4%−32.3%−69.9%−40.7%
Net income-4.8 m-6.9 m-4.7 m-10.8 m-8.3 m-26.3 m-17.0 m-18.8 m
Net income YoYunavailableunavailableunavailableunavailableunavailableunavailableunavailableunavailable
Diluted EPSunavailableunavailableunavailable-1.16-12.48-34.03-6,740.61-165.22
Diluted EPS YoYunavailableunavailableunavailableunavailableunavailableunavailableunavailableunavailable
net %-59.1%-231.9%-53.6%-28.3%-34.1%-159.1%-341.2%-637.4%
Free cash flow-3.5 m-2.8 m-4.5 m-5.5 m-8.4 m-7.7 munavailableunavailable

Reported results vs expectations

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Balance sheet & financial health

Fiscal year 2025 · 31 Dec 2025

Cash
427.9 k USD
Financial debt
9.7 m USD
Net debt
9.3 m USD
Equity
7.6 m USD
Total assets
36.0 m USD
Debt / equity
1.28x
Current ratio
0.06x
ROE
unavailable
ROA
-89.4%
FCF margin
unavailable

Financial statements (source on every figure)

Revenue and net income (USD)

Margins

Income statement · USD

Revenue
2023
16.5 m
2024
5.0 m
2025
3.0 m

SEC (XBRL)· 30 Jun 2026verified

Cost of revenue
2023
19.1 m
2024
5.2 m
2025
7.2 m

SEC (XBRL)· 30 Jun 2026verified

Gross profit
2023
-2.6 m
2024
-244.1 k
2025
-4.3 m

SEC (XBRL)· 30 Jun 2026verified

Operating income
2023
-21.7 m
2024
-9.7 m
2025
-14.1 m

SEC (XBRL)· 30 Jun 2026verified

Depreciation & amortisation
2023
—
2024
513.1 k
2025
470.8 k

SEC (XBRL)· 30 Jun 2026verified

EBITDA
2023
—
2024
-9.2 m ≈
2025
-13.6 m ≈

SEC (XBRL)· 30 Jun 2026derived

Interest expense
2023
2.6 m
2024
3.1 m
2025
2.9 m

SEC (XBRL)· 30 Jun 2026verified

Pre-tax income
2023
-22.6 m
2024
-19.7 m
2025
-18.8 m

SEC (XBRL)· 30 Jun 2026verified

Net income
2023
-26.3 m
2024
-17.0 m
2025
-18.8 m

SEC (XBRL)· 30 Jun 2026verified

Diluted EPS
2023
-34.03
2024
-6,740.61
2025
-165.22

SEC (XBRL)· 30 Jun 2026verified

Weighted average diluted shares
2023
772.3 k
2024
3.4 k
2025
113.9 k

SEC (XBRL)· 30 Jun 2026verified

Balance sheet · USD

Cash
2023
14.2 k
2024
375.9 k
2025
427.9 k

SEC (XBRL)· 30 Jun 2026verified

Receivables
2023
182.8 k
2024
105.5 k
2025
317.2 k

SEC (XBRL)· 30 Jun 2026verified

Inventories
2023
156.5 k
2024
471.5 k
2025
330.0 k

SEC (XBRL)· 30 Jun 2026verified

Current assets
2023
5.3 m
2024
1.2 m
2025
1.5 m

SEC (XBRL)· 30 Jun 2026verified

Property, plant & equipment, net
2023
4.4 m
2024
4.0 m
2025
4.7 m

SEC (XBRL)· 30 Jun 2026verified

Goodwill
2023
—
2024
—
2025
17.4 m

SEC (XBRL)· 30 Jun 2026verified

Intangibles (excl. goodwill)
2023
1.4 k
2024
11.7 k
2025
5.7 m

SEC (XBRL)· 30 Jun 2026verified

Total assets
2023
17.2 m
2024
6.1 m
2025
36.0 m

SEC (XBRL)· 30 Jun 2026verified

Accounts payable
2023
9.3 m
2024
9.3 m
2025
12.1 m

SEC (XBRL)· 30 Jun 2026verified

Short-term debt
2023
1.7 m
2024
2.1 m
2025
—

SEC (XBRL)· 01 Apr 2025verified

Long-term debt
2023
2.4 m
2024
4.7 m
2025
9.7 m

SEC (XBRL)· 30 Jun 2026verified

Current liabilities
2023
20.5 m
2024
13.8 m
2025
25.8 m

SEC (XBRL)· 30 Jun 2026verified

Total liabilities
2023
23.5 m
2024
18.5 m
2025
28.4 m

SEC (XBRL)· 30 Jun 2026verified

Equity
2023
-6.3 m
2024
-12.5 m
2025
7.6 m

SEC (XBRL)· 30 Jun 2026verified

Cash flow · USD

Operating cash flow
2023
-7.1 m
2024
—
2025
—

SEC (XBRL)· 07 May 2024verified

Capex
2023
600.1 k
2024
90.4 k
2025
—

SEC (XBRL)· 01 Apr 2025verified

Free cash flow
2023
-7.7 m ≈
2024
—
2025
—

SEC (XBRL)· 07 May 2024derived

Investing cash flow
2023
-864.8 k
2024
—
2025
—

SEC (XBRL)· 07 May 2024verified

Financing cash flow
2023
7.4 m
2024
—
2025
—

SEC (XBRL)· 07 May 2024verified

Share repurchases
2023
42.7 k
2024
—
2025
—

SEC (XBRL)· 07 May 2024verified

Computed indicators

Growth

Revenue growth (YoY)
-40.7%
computed by olivLawFY 2025
Revenue CAGR 3Y
-50.5%
computed by olivLawFY 2022 → FY 2025
Revenue CAGR 5Y
-19.5%
computed by olivLawFY 2020 → FY 2025
EBIT growth (YoY)
unavailable
the base of the ratio is not positive
Net income growth (YoY)
unavailable
the base of the ratio is not positive
Net income CAGR 3Y
unavailable
the base of the ratio is not positive
Net income CAGR 5Y
unavailable
the base of the ratio is not positive
EPS growth (YoY)
unavailable
the base of the ratio is not positive
EPS CAGR 3Y
unavailable
the base of the ratio is not positive
EPS CAGR 5Y
unavailable
input data missing
FCF growth (YoY)
unavailable
input data missing

Profitability

Gross margin
-71.9%
computed by olivLawTTM to 30 Jun 2026
EBITDA margin
-301.5%
computed by olivLawTTM to 30 Jun 2026
EBIT margin
-353.2%
computed by olivLawTTM to 30 Jun 2026
Net margin
-427.9%
computed by olivLawTTM to 30 Jun 2026
FCF margin
unavailable
input data missing

Returns

ROE
-89.9%
computed by olivLawTTM to 30 Jun 2026 · balance sheet at 30 Jun 2026
ROA
-29.5%
computed by olivLawTTM to 30 Jun 2026 · balance sheet at 30 Jun 2026
ROIC
unavailable
input data missing
ROCE
-37.9%
computed by olivLawTTM to 30 Jun 2026 · balance sheet at 30 Jun 2026
Payout ratio (EPS)
unavailable
input data missing
Payout ratio (FCF)
unavailable
input data missing

Balance sheet

Net debt
unavailable
input data missing
Net debt / EBITDA
unavailable
input data missing
Debt / equity
unavailable
input data missing
Interest coverage
-7.0x
computed by olivLawTTM to 30 Jun 2026

Liquidity

Current ratio
0.1x
computed by olivLawbalance sheet at 30 Jun 2026
Quick ratio
0.1x
computed by olivLawbalance sheet at 30 Jun 2026
Cash ratio
0.0x
computed by olivLawbalance sheet at 30 Jun 2026

Cash

Operating cash flow
unavailable
input data missing
Capital expenditure
441.6 k USD
computed by olivLawTTM to 30 Sept 2025
Free cash flow
unavailable
input data missing
FCF conversion
unavailable
input data missing
Cash conversion
unavailable
input data missing

Efficiency

Days sales outstanding
38 days
computed by olivLawTTM to 30 Jun 2026 · balance sheet at 30 Jun 2026
Days inventory outstanding
28 days
computed by olivLawTTM to 30 Jun 2026 · balance sheet at 30 Jun 2026
Days payables outstanding
717 days
computed by olivLawTTM to 30 Jun 2026 · balance sheet at 30 Jun 2026
Cash conversion cycle
-651 days
computed by olivLawTTM to 30 Jun 2026 · balance sheet at 30 Jun 2026

Market and valuation

Market capitalisation
1.2 m USD
computed by olivLawbalance sheet at 30 Jun 2026
Enterprise value
unavailable
input data missing
Market cap / net income TTM
unavailable
insufficient data
P/E (TTM)
unavailable
insufficient data
Earnings yield
-1,444.1%
computed by olivLawTTM to 30 Jun 2026
P/B
0.1x
computed by olivLawbalance sheet at 30 Jun 2026
P/S
0.3x
computed by olivLawTTM to 30 Jun 2026 · balance sheet at 30 Jun 2026
EV/EBITDA
unavailable
input data missing
EV/EBIT
unavailable
input data missing
EV/Sales
unavailable
input data missing
P/FCF
unavailable
input data missing
FCF yield
unavailable
input data missing
Dividend yield
unavailable
input data missing
Shareholder yield (distributions)
unavailable
input data missing

1 indicators that do not apply to the sector.

Valuation

olivLaw classification

Insufficient data
What is missing
  • indicators available: 4 of at least 6
  • score weight coverage: 25.0% of at least 60%
  • valuation methods computed: 0 of at least 1

A scoring methodology on indicators and valuation, not investment advice.

Closing price

0.73 USD

04 Nov 2026Source: olivLaw, closing series

Market cap: 1.2 m USD

Key indicators

Market capitalisation
1.2 m USD
computed by olivLawbalance sheet at 30 Jun 2026
P/E (TTM)
unavailable
insufficient data
P/B
0.1x
computed by olivLawbalance sheet at 30 Jun 2026
EV/EBITDA
unavailable
input data missing
ROE
-89.9%
computed by olivLawTTM to 30 Jun 2026 · balance sheet at 30 Jun 2026
Net margin
-427.9%
computed by olivLawTTM to 30 Jun 2026
Revenue growth (YoY)
-40.7%
computed by olivLawFY 2025
Dividend yield
unavailable
input data missing

Coverage and freshness

31/37 reporting lines present
Latest full fiscal year: 2025
Latest reported period: 30 Jun 2026
Latest balance sheet date: 30 Jun 2026
Share count (cover of the latest filing), as of: 18 Aug 2026
Source: SEC (XBRL)published 19 Aug 2026
verified 1890derived 147

Score by group

25% · Insufficient data

Estimated value range

unavailable — no valuation method could be computed

Valuation assumptions are editorial choices, not measured; beta is not measured.

Valuation methods

  • DCF (discounted cash flow)unavailable · the input exists, but its latest figure is far older than the latest reported period: not used
  • Peers: EV/EBITDAunavailable · net debt missing: EV cannot be bridged to equity (missing debt is not zero)
  • Peers: P/Eunavailable · the base of the ratio is not positive
  • Dividend discount (DDM)unavailable · the company pays no dividend: a dividend model needs an explicit initiation assumption

no valuation method could be computed

Multiple comparisons use the SIC vertical: Wholesale-Lumber & Other Construction Materials (SIC 5030)

Classification (SIC) comparables group by industry code, not by economic activity; the direct group is an editorial selection by activity. Members' multiples are on their own trailing twelve months, at their own latest close.

Assumptions (illustrative, editorial)

Risk-free rate
4.3%
Equity risk premium
5.0%
Beta (default)
1.00
Cost of equity
9.3%
Terminal growth
2.5%

Factor scorecard

Insufficient data

Minimum-evidence gate: indicators available: 4 of at least 6; score weight coverage: 25.0% of at least 60%; valuation methods computed: 0 of at least 1

FactorValueScoreWeight used
ROIC · Qualityunavailableunavailable—
Net margin · Quality-427.9%0 (vs peers)25%
FCF conversion · Qualityunavailableunavailable—
Revenue CAGR 3Y · Growth-50.5%0 (on a fixed band)33%
EPS CAGR 3Y · Growthunavailableunavailable—
Net debt / EBITDA · Balance sheetunavailableunavailable—
Interest coverage · Balance sheet-7.0x0 (on a fixed band)25%
Current ratio · Balance sheet0.1x0 (on a fixed band)17%
P/E (TTM) · Valuationunavailableunavailable—
EV/EBITDA · Valuationunavailableunavailable—
FCF yield · Valuationunavailableunavailable—
Shareholder yield (distributions) · Returnsunavailableunavailable—
Payout ratio (FCF) · Returnsunavailableunavailable—

Factors without a value were dropped; the remaining weights were renormalised.

Score groups

  • Balance sheet0/100 · 2/3 factors with a value
  • Growth· partial0/100 · 1/2 factors with a value
  • Quality· partial0/100 · 1/3 factors with a value
  • Returns· partialunavailable · 0/2 factors with a value
  • Valuation· partialunavailable · 0/3 factors with a value

A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.

Memo

OLENOX INDUSTRIES INC. (OLOX). Latest full fiscal year: 2025; data up to 2026-06-30.

Figures computed from the financial statements: revenue 3.0 m USD in 2025; YoY growth -40.7%; net margin -427.9%; ROE -89.9%.

Valuation cannot be computed from the available data.

Insufficient data for a verdict (indicators available: 4 of at least 6; score weight coverage: 25.0% of at least 60%; valuation methods computed: 0 of at least 1).

Text generated deterministically from the figures shown; no language model. Not investment advice.

What supports the thesis

No signal among the computed factors. That is not an absence of risk: factors without data were not assessed, and business risks (margins, inventory, demand) are in the source-based analysis.

What contradicts it

  • Net margin: -427.9%
  • Revenue CAGR 3Y: -50.5%
  • Interest coverage: -7.0x
  • Current ratio: 0.1x

Not assessed (insufficient data or a ratio without meaning): ROIC, FCF conversion, EPS CAGR 3Y, Net debt / EBITDA, P/E (TTM), EV/EBITDA, FCF yield, Shareholder yield (distributions), Payout ratio (FCF).

Versus the vertical median

Wholesale-Lumber & Other Construction Materials (SIC 5030) · same industry (4-digit SIC) · compared with 5 companies

Multiples and returns vs the median

P/E
—
vertical median —
EV/EBITDA
—
vertical median —
P/S
0.3x
vertical median 1.3x
below median (−77.4%)
P/B
0.1x
vertical median 1.7x
below median (−96.3%)
ROE
-89.9%
vertical median -4.9%
below median
Net margin
-427.9%
vertical median -5.3%
below median
EBIT margin
-353.2%
vertical median -5.5%
below median
Revenue YoY
-40.7%
vertical median -0.1%
below median
Net debt/EBITDA
—
vertical median —
Dividend yield
—
vertical median —

Price rebased to 100 (monthly, 5 years)

Companies in the vertical

Market capP/EROENet marginRevenue YoY1A / 3A
QXOQxo, Inc.13.1 bn—-2.8%-4.1%+11,925.0%−32% / −57%
BCCBoise Cascade Company2.7 bn22.95.7%1.8%−4.8%+2% / −29%
ASPNAspen Aerogels, Inc.398.3 m—-50.4%-62.4%−40.1%+49% / −54%
CAPSCapstone Holding Corp.42.6 m—-114.2%-36.7%+4.5%+127% / −87%
OLOXOlenox Industries Inc.1.2 m—-89.9%-427.9%−40.7%−97% / −100%
SMJFSMJ International Holdings Inc.——-4.9%-5.3%unavailableunavailable / unavailable

1- and 3-year price returns: for OLOX from daily closes (the same as the performance table), for the other companies from month-end closes.

olivLaw engine forecast

The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.

The engine has no published run for this company yet.

Valuation scenarios (editable assumptions)

Illustrative scenarios

Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.

Bear
Allowed range: -50 … 50%
Allowed range: -100 … 100%
Allowed range: 0 … 100
Allowed range: -10 … 20%
Allowed range: 0 … 100%
Base
Allowed range: -50 … 50%
Allowed range: -100 … 100%
Allowed range: 0 … 100
Allowed range: -10 … 20%
Allowed range: 0 … 100%
Bull
Allowed range: -50 … 50%
Allowed range: -100 … 100%
Allowed range: 0 … 100
Allowed range: -10 … 20%
Allowed range: 0 … 100%
Nothing is saved.

Estimated price (USD)

Estimated priceBearBaseBull
1 years
insufficient data
Total return unavailable · Per year unavailable
insufficient data
Total return unavailable · Per year unavailable
insufficient data
Total return unavailable · Per year unavailable
3 years
insufficient data
Total return unavailable · Per year unavailable
insufficient data
Total return unavailable · Per year unavailable
insufficient data
Total return unavailable · Per year unavailable
5 years
insufficient data
Total return unavailable · Per year unavailable
insufficient data
Total return unavailable · Per year unavailable
insufficient data
Total return unavailable · Per year unavailable
What moves the 3-year price the most

    AI analysis

    AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.

    In brief

    Olenox Industries builds modular structures from recycled shipping containers and now also runs oil and gas, IoT and crypto mining operations. The company is under strain, with falling revenue, large net losses and going-concern doubts, while the CS Digital acquisition added a crypto mining segment.

    SWOT

    Strengths

    • ESR certification from ICC-ES and proprietary container-modification technology 1.
    • Integrated production capacity through SG Echo and Giant Containers, with customers in Canada and the United States 1.

    Weaknesses

    • Repeated net losses and falling revenue in 2025 1.
    • Significant going-concern doubt expressed by the auditor 1.
    • Reliance on costly financing and dilutive share issues 12.

    Opportunities

    • Growth of the crypto mining and SaaS activities through the CS Digital acquisition 2.
    • Expansion into new markets such as EV charging and data centres, named in the report 1.
    • Use of oil and gas assets together with production-optimisation technology 2.

    Threats

    • The Chapter 11 filing of SG Echo and its possible effects on the group 12.
    • Competition in construction from firms with larger resources than the company 1.
    • Regulatory and trade-policy risks, including tariffs 2.

    Risks

    • Going concernhigh

      The auditor has expressed substantial doubt about the company's ability to continue operating, and without additional capital, activity could be reduced or halted 1.

    • SG Echo insolvencyhigh

      The subsidiary has entered Chapter 11, and accelerated debts could affect the consolidated balance sheet, with the impact still under evaluation 12.

    • Shareholder dilutionmedium

      Equity or convertible financing could significantly dilute existing shareholders, and the 2026 reverse split does not solve the liquidity problem 12.

    • Acquisition integrationmedium

      Integrating Giant Containers, Olenox Corp., Machfu and CS Digital into one group could prove difficult and costly 12.

    • Operational and market riskslow

      Reliance on the Conroe, Texas facility, which is exposed to natural disasters, and high fixed costs could squeeze margins if production falls 1.

    Investment thesis

    What would need to be true (bull case)

    • If recent acquisitions are integrated successfully, the group could benefit from a diversified revenue base across construction, energy, technology and crypto mining 2.
    • The ESR certification and proprietary technology could give a lasting competitive edge in modular construction 1.
    • Reducing debt and obtaining cheaper financing could stabilise the balance sheet and support growth 12.

    What would break the thesis

    • Revenue fell in 2025 and losses remained large, and the company has not yet shown a clear recovery 1.
    • Going-concern doubts and the insolvency of a subsidiary could restrict access to financing 12.
    • Rapid diversification through acquisitions could create operational complexity and pressure on management 2.

    What to watch

    • Progress of SG Echo's Chapter 11 proceeding and its effect on group debtnext 10-Q
    • Contribution of the crypto mining segment to revenue and operating marginsQ3 2026
    • Auditor's conclusion on going concern in the next annual reportnext 10-K
    • New share issues or convertible financings and the level of dilution2027

    Products, market & competition

    AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.

    The business

    Olenox Industries Inc. (formerly Safe & Green Holdings Corp., ticker OLOX) makes modular structures from recycled shipping containers, delivered as homes, commercial buildings and industrial structures 1. In its 2025 annual report it described four segments: construction, technology, oil and gas, and environmental services 1. In January 2026 it changed its name and trading symbol 1.

    Through the Giant Containers acquisition of December 2025 it became a significant producer of container-based modular structures with customers in Canada and the United States, and that business was to become the centre of its modular activity 1. The merger with Olenox Corp. and Machfu, Inc. brought oil and gas and IoT remote-monitoring businesses into the group 12.

    For the quarter ended June 30, 2026, the company reported four segments: construction, software-as-a-service, oil and gas and crypto mining, following the CS Digital Ventures acquisition on May 26, 2026 2. Its subsidiary SG Echo filed for Chapter 11 in April 2026, while the rest of the group kept operating 12.

    Segments

    Modular construction

    This segment builds modules from shipping containers and from wood or steel, for residential and commercial use, through SG Echo and Giant Containers 2. Construction revenue fell 54% in 2025 to 2,286,494 USD 1.

    Oil and gas

    Olenox Corp. acquires and revitalises underdeveloped energy assets in Texas, Oklahoma and Kansas, using proprietary plasma pulse and ultrasonic cleaning tools 2. Oil and gas revenue was 288,467 USD in 2025 1.

    Crypto mining

    The segment was created through the CS Digital Ventures acquisition and generated 1,452,752 USD of revenue from the acquisition date to June 30, 2026 2. The acquisition carried 30.0 million USD of upfront consideration, including preferred stock and a promissory note 2.

    Market context

    The modular construction market in the United States and Canada is fragmented, and construction competition is intense, with few companies offering modular services 1. The company claims its modules bring speed, cost and energy advantages, saying projects can save up to 50% on speed to market against traditional construction 1.

    Demand for modular solutions depends on the residential and commercial construction cycle, which is seasonal and sensitive to economic conditions 2. If access to financing improves, the segment could regain volume, though performance depends on the company rebuilding its balance sheet 12.

    Trends

    • Consolidation in modular constructionmixed

      Consolidation in modular building could favour companies with production capacity and certifications such as the ICC-ES ESR the company holds 1. If this continues, the certification advantage could matter more to customers.

    • Demand for fast and sustainable constructiontailwind

      Demand for quick, green construction, including military and education projects, supports the company's modular model 1. It also points to future markets such as EV charging stations and data centres 1.

    • Difficult financing conditionsheadwind

      The company has relied on costly financing and dilutive share issues, and access to capital may be limited 12. This trend weighs on liquidity.

    • Diversification into energy and technologymixed

      The move into oil and gas, IoT and crypto mining changes the company's profile but also brings new execution risks 2. The effect depends on its ability to integrate these businesses.

    Competitive position

    The company says it faces competition from regional, national and international builders with greater financial resources, and in modular building it competes with a small number of firms 1. It differentiates on its ESR certification, quality, cost and construction time 1.

    Competitive factors it cites include availability of building materials, experience in modular construction and the ability to meet industry standards 1. The sources do not give a detailed list of competitors with financial data.

    • Regional, national and international builders

      Companies with greater financial and marketing resources, named only generically in the annual report 1.

    • Modular building service firms

      A small number of companies offering modular building services, not named in the sources 1.

    • Traditional developers and builders

      Competitors using conventional methods, which the company says cost more in urban locations 1.

    • Oil and gas services providers

      Competitors in the oil and gas and energy services segment, not identified in the sources 2.

    News & filings

    In the press

    No news in our archive over the last 180 days.

    SEC filings

    Sources

    1. [1] Form 10-K, fiscal year ended 2025-12-31 · SEC / Olenox Industries Inc. · 30 Jun 2026
    2. [2] Form 10-Q, quarter ended 2026-06-30 · SEC / Olenox Industries Inc. · 19 Aug 2026
    3. [3] Form 8-K, results release (exhibit 99.1) · SEC / Olenox Industries Inc. · 14 Nov 2023

    Figures computed by olivLaw from SEC filings and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.