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 June 30, 2021 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 SG BLOCKS, INC. (Exact name of registrant as specified in its charter) | Delaware | 95-4463937 | | --- | -- ...

PART I. FINANCIAL INFORMATION [Financial Statements](index=4&type=section&id=Item%201.%20Financial%20Statements) SG Blocks reported a significant revenue increase to $9.2 million, primarily from new medical services, despite a widened net loss of $2.0 million [Condensed Consolidated Balance Sheets](index=4&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) Total assets slightly increased to $27.2 million, with cash decreasing to $10.5 million, while total liabilities rose to $9.0 million Condensed Consolidated Balance Sheet Highlights (Unaudited) | Balance Sheet Item | March 31, 2021 ($) | December 31, 2020 ($) | | :--- | :--- | :--- | | **Current Assets** | | | | Cash and cash equivalents | 10,540,290 | 13,010,356 | | Accounts receivable, net | 3,216,907 | 2,635,608 | | Total current assets | 17,844,168 | 18,298,019 | | **Total Assets** | **27,248,284** | **26,882,098** | | **Current Liabilities** | | | | Accounts payable and accrued expenses | 6,024,738 | 3,961,961 | | Total current liabilities | 7,812,586 | 7,234,681 | | **Total Liabilities** | **8,965,187** | **8,444,275** | | **Total Stockholders' Equity** | **18,283,097** | **18,437,823** | [Condensed Consolidated Statements of Operations](index=5&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations) Total revenue surged to $9.2 million, driven by medical services, but increased operating expenses led to a widened net loss of $2.0 million Condensed Consolidated Statements of Operations (Unaudited) | Line Item | Three Months Ended Mar 31, 2021 ($) | Three Months Ended Mar 31, 2020 ($) | | :--- | :--- | :--- | | **Total Revenue** | **9,187,627** | **198,756** | | Construction services | 3,137,715 | 89,341 | | Medical revenue | 5,955,963 | — | | **Gross Profit** | **1,208,181** | **45,981** | | Total Operating Expenses | 2,369,638 | 795,460 | | **Operating Loss** | **(1,161,457)** | **(749,479)** | | **Net Loss** | **(1,144,350)** | **(747,427)** | | Net loss attributable to common stockholders | (2,033,877) | (747,427) | | **Net Loss Per Share (Basic & Diluted)** | **(0.23)** | **(0.64)** | [Condensed Consolidated Statements of Cash Flows](index=7&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) Net cash used in operating activities increased to $2.2 million, leading to a $2.5 million decrease in cash, ending at $10.5 million Condensed Consolidated Statements of Cash Flows Summary (Unaudited) | Cash Flow Activity | Three Months Ended Mar 31, 2021 ($) | Three Months Ended Mar 31, 2020 ($) | | :--- | :--- | :--- | | Net cash used in operating activities | (2,183,116) | (1,026,812) | | Net cash used in investing activities | (990,388) | (400,000) | | Net cash provided by financing activities | 703,438 | 199,878 | | **Net decrease in cash and cash equivalents** | **(2,470,066)** | **(1,226,934)** | | Cash and cash equivalents - end of period | 10,540,290 | 398,737 | [Notes to Condensed Consolidated Financial Statements](index=8&type=section&id=Notes%20to%20Condensed%20Consolidated%20Financial%20Statements) Notes detail business expansion into medical services and modular manufacturing, a $22.9 million construction backlog, ongoing legal proceedings, and a subsequent land acquisition - The company has diversified its business, adding a significant medical revenue stream through a joint venture with Clarity Lab Solutions for COVID-19 testing and forming Chicago Airport Testing LLC (CAT)[24](index=24&type=chunk)[25](index=25&type=chunk)[48](index=48&type=chunk) - The company's construction backlog was approximately **$22.9 million** as of March 31, 2021, with **$10.0 million** expected to convert to revenue within one year and **$12.9 million** within one to two years[31](index=31&type=chunk)[115](index=115&type=chunk)[118](index=118&type=chunk) Revenue by Customer Type (Q1 2021 vs Q1 2020) | Revenue Category | Q1 2021 ($) | Q1 2020 ($) | | :--- | :--- | :--- | | Construction and Engineering Services | 3,231,664 | 198,756 | | Medical Revenue (lab testing, kit sales) | 5,955,963 | — | | **Total Revenue** | **9,187,627** | **198,756** | - The company is involved in several legal proceedings, including litigation with Pizzarotti, Teton Buildings, HOLA Community Partners, and a former employee. The company is unable to predict the outcome or potential loss and has not recorded any provisions for these matters[151](index=151&type=chunk)[158](index=158&type=chunk)[164](index=164&type=chunk) - Subsequent to the quarter's end, the company acquired a **50-acre** site in Lago Vista, Texas for **$3.5 million** in cash, planning to develop a condominium project[181](index=181&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=38&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Result%20of%20Operations) Management attributes a **4,523%** revenue increase to the new medical segment, despite a gross profit margin decline to **13.2%** and an Adjusted EBITDA loss of **$1.5 million** - The company's business model has evolved to include a royalty fee model for residential construction, direct project-based construction, and a new, rapidly growing medical segment focused on COVID-19 diagnostic services[186](index=186&type=chunk)[187](index=187&type=chunk) - Total revenue for Q1 2021 was **$9,187,627**, an increase of **$8,988,871 (4523%)** from Q1 2020, primarily driven by approximately **$5.9 million** in new medical revenue[195](index=195&type=chunk) - Gross profit margin decreased to **13.2%** in Q1 2021 from **23.1%** in Q1 2020, primarily due to a **$1.0 million** loss on a legacy contract from the SG Echo acquisition[198](index=198&type=chunk) - The company had a cash balance of **$10,540,290** as of March 31, 2021, and management anticipates this is sufficient to fund operations for at least the next twelve months[214](index=214&type=chunk) Non-GAAP Reconciliation: Net Loss to Adjusted EBITDA | Metric | Three Months Ended Mar 31, 2021 ($) | Three Months Ended Mar 31, 2020 ($) | | :--- | :--- | :--- | | Net loss | (2,033,877) | (747,427) | | EBITDA (non-GAAP) | (1,909,191) | (702,078) | | **Adjusted EBITDA (non-GAAP)** | **(1,541,786)** | **(526,576)** | [Quantitative and Qualitative Disclosures About Market Risk](index=49&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) This section is not applicable to the company - Not applicable[244](index=244&type=chunk) [Controls and Procedures](index=49&type=section&id=Item%204.%20Controls%20and%20Procedures) Disclosure controls and procedures were deemed ineffective due to a material weakness in financial reporting, with remediation efforts underway including hiring senior accounting personnel - Management concluded that disclosure controls and procedures were **not effective** as of the end of the period[245](index=245&type=chunk) - A material weakness was identified related to the timely closing of accounting records and technical accounting for complex transactions[247](index=247&type=chunk) - Remediation steps include hiring two additional senior accounting personnel to strengthen the financial closing process and oversight[249](index=249&type=chunk) PART II. OTHER INFORMATION [Legal Proceedings](index=51&type=section&id=Item%201.%20Legal%20Proceedings) Information regarding legal proceedings is incorporated by reference from Note 16 of the financial statements - Information regarding legal proceedings is incorporated by reference from "Note 16 - Commitments and Contingencies" in the financial statements section of the report[253](index=253&type=chunk) [Risk Factors](index=51&type=section&id=Item%201A.%20Risk%20Factors) Key risks include a going concern doubt due to historical losses, significant customer concentration, the non-guaranteed nature of the $22.9 million backlog, and potential stockholder dilution - The company's history of losses and cash usage raises substantial doubt about its ability to continue as a going concern if it cannot increase sales or raise additional capital[255](index=255&type=chunk)[256](index=256&type=chunk) - Significant customer concentration risk exists, as two customers generated approximately **80%** of total revenue for the three months ended March 31, 2021[257](index=257&type=chunk) - The construction backlog of **$22.9 million** as of March 31, 2021 is not necessarily indicative of future revenues, as contracts can be canceled, terminated, or suspended at the customer's discretion[259](index=259&type=chunk) - There is a risk of dilution for existing stockholders due to a significant number of outstanding options, warrants, and restricted stock units[261](index=261&type=chunk) [Unregistered Sales of Equity Securities and Use of Proceeds](index=53&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) No unregistered sales of equity securities have been reported that were not previously disclosed - None that have not been previously disclosed[263](index=263&type=chunk) [Defaults Upon Senior Securities](index=53&type=section&id=Item%203.%20Defaults%20Upon%20Senior%20Securities) The company reports no defaults upon senior securities - None[264](index=264&type=chunk) [Mine Safety Disclosures](index=53&type=section&id=Item%204.%20Mine%20Safety%20Disclosures) This section is not applicable to the company - Not applicable[265](index=265&type=chunk) [Other Information](index=53&type=section&id=Item%205.%20Other%20Information) No information was provided under this item [Exhibits](index=54&type=section&id=Item%206.%20Exhibits) This section provides an index of exhibits filed with the Form 10-Q, including corporate governance documents and officer certifications - The report includes certifications by the CEO and CFO pursuant to Sections 302 and 906 of the Sarbanes-Oxley Act of 2002[268](index=268&type=chunk)

SG Blocks, Inc. (NASDAQ:SGBX) Q1 2021 Results Earnings Conference Call May 17, 2021 4:30 PM ET Company Participants Stephen Swett - Investor Relations Paul Galvin - Chief Executive Officer Conference Call Participants Operator Good day and welcome to SG Blocks’ Incorporated First Quarter 2021 Results Conference Call. [Operator Instructions] Please note, this event is being recorded. I would like to turn the conference over to Stephen Swett of Investor Relations. Please go ahead. Stephen Swett Good afternoon ...

SG Blocks, Inc. (NASDAQ:SGBX) Q4 2020 Earnings Conference Call April 15, 2021 4:30 PM ET Company Participants Stephen Swett - Investor Relations Gerald Sheeran - Chief Financial Officer Paul Galvin - Chief Executive Officer Conference Call Participants Operator Good day and welcome to SG Blocks’ Fourth Quarter and Full Year 2020 Earnings Conference Call and Webcast. Today's conference call is being recorded. At this time, I would like to turn the conference over to Mr. Stephen Swett of Investor Relations. T ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2020 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 SG BLOCKS, INC. (Exact name of registrant as specified in its charter) | Delaware | 95-4463937 | | --- | --- | ...

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, 2020 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 SG BLOCKS, INC. (Exact name of registrant as specified in its charter) | Delaware | 95-4463937 | | --- ...

SG Blocks, Inc. (NASDAQ:SGBX) Q2 2020 Earnings Conference Call August 13, 2020 4:30 PM ET Company Participants Gerald Sheeran - Chief Financial Officer Paul Galvin - Chief Executive Officer Conference Call Participants Operator Good day and welcome to SG Blocks’ Second Quarter 2020 Earnings Conference Call and Webcast. Today's conference call is being recorded. At this time, I would like to turn the conference over to Gerald Sheeran, Chief Financial Officer. Please go ahead. Gerald Sheeran Thank you and goo ...

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 June 30, 2020 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 SG BLOCKS, INC. (Exact name of registrant as specified in its charter) | Delaware | 95-4463937 | | --- | -- ...

SG Blocks, Inc. (NASDAQ:SGBX) Q1 2020 Results Conference Call May 14, 2020 4:30 PM ET Company Participants James Carbonara - Hayden IR Paul Galvin - CEO Operator Good day and welcome to SG Blocks' First Quarter 2020 Earnings Conference Call and Webcast. Today's conference call is being recorded. At this time, I would like to turn the conference over to James Carbonara of Hayden IR. Please go ahead. James Carbonara Thank you and good afternoon. Thank you all for joining us for SG Blocks’ first quarter 2020 ...

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 March 31, 2020 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 SG BLOCKS, INC. (Exact name of registrant as specified in its charter) | Delaware | 95-4463937 | | --- | - ...