David Cross, Senior Vice President of Sales and Business Development, Safe and Green Holdings MIAMI, Fla, May 29, 2024 (GLOBE NEWSWIRE) -- Safe & Green Holdings Corp. (NASDAQ:SGBX) ("Safe & Green Holdings" or the "Company"), a leading developer, designer, and fabricator of modular as well as containerbased structures, today announced the promotion of David Cross to Senior Vice President of Sales and Business Development to reflect his considerable contributions to the Company. David Cross, a graduate of the ...

David Cross, Senior Vice President of Sales and Business Development, Safe and Green Holdings MIAMI, Fla, May 29, 2024 (GLOBE NEWSWIRE) -- Safe & Green Holdings Corp. (NASDAQ: SGBX) ("Safe & Green Holdings" or the "Company"), a leading developer, designer, and fabricator of modular as well as container-based structures, today announced the promotion of David Cross to Senior Vice President of Sales and Business Development to reflect his considerable contributions to the Company. David Cross, a graduate of t ...

Company Overview - Safe & Green Holdings Corp. is a leading developer, designer, and fabricator of modular structures, focusing on safe and green solutions across various industries [4] - The company operates a subsidiary, Safe and Green Development Corporation, which specializes in real estate development using prefabricated modules made from wood and steel [4] Certification and Compliance - The company has received recertification of its ESR (Evaluation Service Report) for the use of shipping containers in modular construction from the International Code Council (ICC) [1][3] - The ICC Evaluation Service is recognized as the industry leader in technical evaluations for building products, ensuring compliance with building codes [2] Strategic Importance - The recertification allows the company to continue certifying intermodal containers as approved building materials, which is crucial for streamlining project approvals with building departments [3] - The initial ESR certification was awarded in 2017, marking the company as the first to receive certification for a recycled product used in construction [3]

$8 million in new business at SG Echo subsidiary; Anticipates cash flow positivity at the factory in 2024 Cost-Saving Initiatives Expected to Save $2.5 Million in Annualized Expenses to be Recognized in 2024 MIAMI, May 17, 2024 (GLOBE NEWSWIRE) -- Safe & Green Holdings Corp. (NASDAQ:SGBX) ("Safe & Green Holdings" or the "Company"), a leading developer, designer, and fabricator of modular structures, reported results for the three months ended March 31, 2024. Recent Highlights: Paul Galvin, Chairperson and C ...

$8 million in new business at SG Echo subsidiary; Anticipates cash flow positivity at the factory in 2024 Cost-Saving Initiatives Expected to Save $2.5 Million in Annualized Expenses to be Recognized in 2024 MIAMI, May 17, 2024 (GLOBE NEWSWIRE) -- Safe & Green Holdings Corp. (NASDAQ: SGBX) ("Safe & Green Holdings" or the "Company"), a leading developer, designer, and fabricator of modular structures, reported results for the three months ended March 31, 2024. Recent Highlights: Received an expanded scope of ...

PART I. FINANCIAL INFORMATION [Financial Statements](index=3&type=section&id=ITEM%201.%20Financial%20Statements) This section presents the unaudited condensed consolidated financial statements for Safe & Green Holdings Corp. and its subsidiaries for Q1 2024 and 2023 [Condensed Consolidated Balance Sheets](index=3&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) Total assets increased to **$19.96 million** while total liabilities rose to **$26.59 million**, resulting in a **$6.64 million** stockholders' deficit as of March 31, 2024 Condensed Consolidated Balance Sheet Highlights (Unaudited) | Metric | March 31, 2024 ($) | December 31, 2023 ($) | | :--- | :--- | :--- | | **Total Current Assets** | 6,116,891 | 5,340,598 | | **Total Assets** | 19,955,096 | 17,211,275 | | **Total Current Liabilities** | 22,717,095 | 20,549,429 | | **Total Liabilities** | 26,592,574 | 23,546,134 | | **Total Stockholders' Equity** | (6,637,478) | (6,334,859) | [Condensed Consolidated Statements of Operations](index=4&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations) Total revenue significantly decreased to **$1.02 million** in Q1 2024 from **$5.50 million** in Q1 2023, widening the net loss to **$4.67 million** Condensed Consolidated Statements of Operations (Unaudited) | Metric | Three Months Ended March 31, 2024 ($) | Three Months Ended March 31, 2023 ($) | | :--- | :--- | :--- | | **Total Revenue** | 1,017,931 | 5,503,935 | | **Gross Profit (Loss)** | 372,948 | (69,472) | | **Operating Loss** | (4,032,459) | (3,260,069) | | **Net Loss** | (5,257,028) | (3,519,440) | | **Net Loss Attributable to Common Stockholders** | (4,670,164) | (3,519,440) | | **Net Loss Per Share (Basic and Diluted)** | (4.93) | (5.00) | [Condensed Consolidated Statements of Changes in Stockholders' Equity](index=5&type=section&id=Condensed%20Consolidated%20Statements%20of%20Changes%20in%20Stockholders'%20Equity) Stockholders' equity deficit widened to **$6.64 million** by March 31, 2024, primarily due to a **$5.26 million** net loss, partially offset by equity transactions - Total stockholders' equity decreased from a deficit of **$6,334,859** at the end of 2023 to a deficit of **$6,637,478** at the end of Q1 2024[12](index=12&type=chunk) - Key activities impacting equity in Q1 2024 include a net loss of **$5.26 million**, SG DevCorp equity transactions of **$3.73 million**, and stock-based compensation of **$179,029**[12](index=12&type=chunk) [Condensed Consolidated Statements of Cash Flows](index=6&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) Net cash used in operating activities was **$0.92 million** in Q1 2024, with a net increase in cash and cash equivalents of **$0.72 million** for the period Cash Flow Summary (Unaudited) | Activity | Three Months Ended March 31, 2024 ($) | Three Months Ended March 31, 2023 ($) | | :--- | :--- | :--- | | **Net Cash Used in Operating Activities** | (923,847) | (1,378,685) | | **Net Cash Used in Investing Activities** | (257,186) | (638,348) | | **Net Cash Provided by Financing Activities** | 1,903,372 | 2,886,758 | | **Net Increase in Cash** | 722,339 | 869,725 | | **Cash and Cash Equivalents - End of Period** | 739,787 | 1,452,501 | [Notes to Condensed Consolidated Financial Statements](index=8&type=section&id=Notes%20to%20Condensed%20Consolidated%20Financial%20Statements) The notes detail business segments, accounting policies, liquidity, financing, legal proceedings, and subsequent events, including a going concern warning and a reverse stock split - The company operates in four segments: manufacturing & construction services, medical, real estate development, and environmental[17](index=17&type=chunk) - On May 2, 2024, the company effected a **1-for-20 reverse stock split** of its common stock, with all share and per-share amounts retroactively restated[26](index=26&type=chunk) - The company has incurred losses since inception, has negative working capital of **$15.5 million**, and negative operating cash flows, raising substantial doubt about its ability to continue as a going concern[29](index=29&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=51&type=section&id=ITEM%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Result%20of%20Operations) Management discusses the significant decrease in Q1 2024 revenue, widening net loss, ongoing liquidity challenges, and a going concern warning, alongside recent financing activities and non-GAAP reconciliation Q1 2024 vs Q1 2023 Results of Operations | Metric | Three Months Ended March 31, 2024 ($) | Three Months Ended March 31, 2023 ($) | | :--- | :--- | :--- | | **Total Revenue** | 1,017,931 | 5,503,935 | | **Gross Profit (Loss)** | 372,948 | (69,472) | | **Operating Loss** | (4,032,459) | (3,260,069) | | **Net Loss Attributable to Common Stockholders** | (4,670,164) | (3,519,440) | - Total revenue for Q1 2024 decreased by **$4.5 million (82%)** compared to Q1 2023, mainly due to a decrease in construction services[291](index=291&type=chunk) - The company has negative operating cash flows and incurred losses since inception, raising substantial doubt about its ability to continue as a going concern, with plans to meet capital needs through revenue, cost containment, and additional financing[301](index=301&type=chunk)[302](index=302&type=chunk) Non-GAAP Reconciliation: Net Loss to Adjusted EBITDA | Metric | Three Months Ended March 31, 2024 ($) | Three Months Ended March 31, 2023 ($) | | :--- | :--- | :--- | | **Net loss attributable to common stockholders** | (4,670,164) | (3,519,440) | | **EBITDA (non-GAAP)** | (3,320,591) | (3,103,118) | | **Adjusted EBITDA (non-GAAP)** | (2,075,575) | (1,992,063) | [Quantitative and Qualitative Disclosures About Market Risk](index=64&type=section&id=ITEM%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) The company has indicated that quantitative and qualitative disclosures about market risk are not applicable - The company has indicated that quantitative and qualitative disclosures about market risk are not applicable[362](index=362&type=chunk) [Controls and Procedures](index=64&type=section&id=ITEM%204.%20Controls%20and%20Procedures) Management concluded that the company's disclosure controls and procedures were not effective as of March 31, 2024, due to deficiencies in timely information processing for SEC reports - Management concluded that as of the Evaluation Date (end of Q1 2024), the company's disclosure controls and procedures were not effective[363](index=363&type=chunk) - Despite the ineffectiveness of controls, management believes the financial statements in this report present fairly, in all material respects, the company's financial condition and results of operations[364](index=364&type=chunk) PART II. OTHER INFORMATION [Legal Proceedings](index=65&type=section&id=ITEM%201.%20Legal%20Proceedings) The company is subject to various legal proceedings in the normal course of business, with detailed information referenced in Note 18 of the financial statements - Information regarding legal proceedings is incorporated by reference from Note 18 - Commitments and Contingencies in the financial statements[367](index=367&type=chunk) [Risk Factors](index=65&type=section&id=ITEM%201A.%20Risk%20Factors) Key risks include substantial doubt about going concern, potential financing needs, high customer concentration, backlog uncertainty, and Nasdaq listing non-compliance - The company's recurring losses, negative working capital of **$16.6 million** as of March 31, 2024, and negative operating cash flows have raised substantial doubt about its ability to continue as a going concern[369](index=369&type=chunk)[371](index=371&type=chunk)[372](index=372&type=chunk) - A significant portion of revenue is concentrated with a few customers, with approximately **86%** of Q1 2024 revenue generated from a single customer[373](index=373&type=chunk) - The company's construction backlog decreased from **$1.9 million** to **$0.9 million** between December 31, 2023, and March 31, 2024, and is not a guaranteed indicator of future revenues or profits[374](index=374&type=chunk) - The company received a deficiency notice from Nasdaq for failing to meet the minimum stockholders' equity requirement of **$2.5 million**, posing a delisting risk[382](index=382&type=chunk) [Unregistered Sales of Equity Securities and Use of Proceeds](index=68&type=section&id=ITEM%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) The company reported no unregistered sales of equity securities during Q1 2024, beyond previously disclosed SEC filings - No unregistered sales of equity securities occurred during Q1 2024, other than those previously reported[383](index=383&type=chunk) [Defaults Upon Senior Securities](index=68&type=section&id=ITEM%203.%20Defaults%20Upon%20Senior%20Securities) The company reported no defaults upon senior securities during the period - None[384](index=384&type=chunk) [Mine Safety Disclosures](index=68&type=section&id=ITEM%204.%20Mine%20Safety%20Disclosures) This item is noted as not applicable for the company - Not applicable[385](index=385&type=chunk) [Other Information](index=68&type=section&id=ITEM%205.%20Other%20Information) This section details recent Nasdaq notifications, including regaining minimum bid price compliance but receiving a deficiency notice for failing to meet the **$2.5 million** stockholders' equity requirement - On May 16, 2024, Nasdaq confirmed the company regained compliance with the minimum bid price requirement (Rule 5550(a)(2))[387](index=387&type=chunk) - On May 16, 2024, Nasdaq notified the company of non-compliance with the minimum stockholders' equity requirement of **$2.5 million** (Rule 5550(b)(1))[389](index=389&type=chunk) - The company intends to submit a plan to regain compliance with the stockholders' equity rule to Nasdaq by June 30, 2024[391](index=391&type=chunk)[393](index=393&type=chunk) [Exhibits](index=69&type=section&id=ITEM%206.%20Exhibits) This section provides an index of all exhibits filed with the Form 10-Q, including corporate governance documents, securities agreements, and CEO/CFO certifications - The exhibit index lists various agreements and certifications, including the Separation and Distribution Agreement, amendments to the Certificate of Incorporation, forms of warrants, and Sarbanes-Oxley Act certifications[395](index=395&type=chunk)[396](index=396&type=chunk)

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K For the transition period from ____________ to ____________ Commission file number: 001-38037 SAFE & GREEN HOLDINGS CORP. (Exact name of registrant as specified in its charter) | Delaware | 95-4463937 | | --- | --- | | (State or other jurisdiction of | (I.R.S. Employer | | incorporation or organization) | Identification No.) | | 990 Biscayne Blvd., #501, Office 12, Miami, Florida | 33132 | | (Address of principal executive off ...

Safe & Green Holdings Corp. (NASDAQ:SGBX) Q3 2023 Earnings Conference Call November 14, 2023 4:30 PM ET Company Participants Ted Ayvas - Investor Relations Paul Galvin - Chairperson & Chief Executive Officer Tricia Kaelin - Chief Financial Officer Conference Call Participants Operator Greetings, and welcome to the Safe & Green Holdings Third Quarter 2023 Business Update Conference Call. At this time, all participants are in listen-only mode and the floor will be open for questions after the presentation. [O ...

☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 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 30, 2023 OR For the transition period from ____________ to ____________ Commission File Number: 001-38037 SAFE & GREEN HOLDINGS CORP. (Exact name of registrant as specified in its charter) | Delaware | 95-446 ...

Financial Data and Key Metrics Changes - In Q2 2023, the company reported revenue of $5.1 million, down from $7.6 million in Q2 2022, primarily due to the discontinuation of COVID-19 testing facilities [30] - The gross profit for Q2 2023 was $34,000, a significant decrease from $771,000 in Q2 2022, reflecting a decline in medical revenue [11] - The adjusted EBITDA loss for Q2 2023 was approximately $2.3 million, compared to an adjusted EBITDA of approximately $512,000 in Q2 2022 [12] - The net loss attributable to common shareholders was approximately $5.6 million, or $0.37 per share, in Q2 2023, compared to a net loss of $1.4 million, or $0.11 per share, in Q2 2022 [36] Business Line Data and Key Metrics Changes - Manufacturing revenue increased by 21% year-over-year, driven by the manufacturing for construction services segment, which generated $5.1 million in revenue [5][30] - Operating expenses for Q2 2023 were $5.6 million, up from $2.1 million in Q2 2022, mainly due to increased headcount and salary expenses [31] Market Data and Key Metrics Changes - The company is focusing on four key verticals for growth, which are expected to enhance shareholder value [7] - The SG DevCo spinoff is anticipated to create significant value, with an independent appraisal valuing SG DevCo at $74 million [8][9] Company Strategy and Development Direction - The company aims to develop 10,000 units over the next seven years, projecting potential returns exceeding $200 million [18] - The McLean Manufacturing facility is in the design stage, with plans to support the development of 800 units at the Magnolia Residential project [22][23] - The company is integrating advanced technologies to improve manufacturing efficiency and reduce waste [21] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving a milestone of $30 million in revenue for 2023, more than double the previous year's revenue [27] - The company is optimistic about expanding partnerships, particularly with Domino's, to enhance operational efficiency and sustainability [20] - Management highlighted the importance of balancing asset growth with sensible expense management to achieve long-term profitability [29] Other Important Information - The company has reduced its cash burn by over $2 million in the first half of 2023 [10] - As of June 30, 2023, the company had a cash balance and short-term investments of $1.6 million, up from $600,000 at the end of 2022 [32] Q&A Session Summary - The Q&A session concluded with management expressing gratitude for investor support and confidence in the company's progress and future updates [33]