Core Insights - Safe and Green Development Corporation reported financial results for Q3 2024, highlighting significant operational and financial developments [1][2]. Operational Highlights - The company secured an investment of up to $10 million from Arena Investors [1]. - Expanded its project pipeline with three joint ventures in South Texas [1]. - Regained compliance with NASDAQ's minimum bid price requirement [1]. - Initiated construction on six homes and closed a construction loan in South Texas [1]. Financial Highlights - Revenues for Q3 2024 were reported at $81,210 [1]. - The GAAP net loss totaled $2,342,002 [1]. - Adjusted EBITDA for the quarter was ($900,881) [1][5]. - The company aims to generate revenue from the sale of the St. Mary's property in Q4 2024, with expected revenue of approximately $1,200,000 from the first phase of the Sugar Phase 1 Development [1]. - The goal is to deliver and sell a minimum of 40 homes throughout 2025, generating approximately $8,000,000 in revenue [1]. Strategic Outlook - The CEO expressed confidence in the company's business plan to integrate development and technology assets for sustainable revenue growth [1]. - The CFO noted a reduction in operating expenses by approximately $135,000 since the end of Q3 2024, emphasizing efficient operations and responsible growth [1].
Safe and Green Development Corporation Reports Third Quarter 2024 Financial Results