OLOX · Olenox Industries Inc.

Olenox Industries disclosed that its wholly owned subsidiary SG Echo LLC initiated a voluntary Chapter 11 bankruptcy case on April 28, 2026, in the U.S. Bankruptcy Court for the Eastern District of Oklahoma (Case No. 26-80385). This filing is explicitly limited to SG Echo, with the parent company and all other subsidiaries continuing normal operations unaffected. SG Echo is operating as debtor-in-possession, pursuing customary first-day relief to maintain ordinary course business and expects to file a reorganization plan addressing claims, including general unsecured claims. The bankruptcy triggered an event of default under the September 20, 2024 Loan and Security Agreement with Enhanced Capital Oklahoma Rural Fund, LLC, accelerating approximately $4 million in principal plus accrued interest, though enforcement is stayed under Bankruptcy Code protections. Exhibit 99.1 press release frames the filing as a proactive strategy to reduce liabilities by an estimated $2 million, streamline operations post-relocation to Conroe, Texas, and enhance long-term growth and cash flow. SG Echo's petition estimates assets and liabilities each between $1-10 million, with 100-199 creditors, including top unsecured claims like $2 million partially secured by Farnam Street Financial. Investors should monitor court proceedings via PACER for plan confirmation, creditor distributions, and emergence timeline, as outcomes could impact Olenox's consolidated financials and subsidiary value.