Core Viewpoint - Safe and Green Development Corporation (SGD) is set to acquire 100% equity interests in Resource Group US Holdings (RSG), which operates in advanced engineered soils, compost, and logistics [1][2]. Financial Summary - For the year ended December 31, 2024, RSG's consolidated financials show a net loss of $936,000 on revenues of $18.75 million, with RGUS contributing a net loss of $1.8 million and ZEI generating a net income of $907,000 [4][7]. - In 2023, RSG reported a consolidated net loss of $6.2 million on revenues of $17.5 million, with RGUS and ZEI reporting net losses of $4.5 million and $1.7 million, respectively [5][8]. - Adjusted EBITDA for 2024 was estimated at $821,000, while for 2023, it was a loss of $481,000 [4][5]. Business Operations - Resource Group US Holdings operates two main businesses: RGUS, focusing on engineered soils and compost, and ZEI, which is involved in regional logistics and transportation [2]. - RGUS generated revenues of $5.2 million in 2024, while ZEI generated $13.4 million in the same year [7]. Transaction Details - The acquisition will involve the issuance of shares of SGD's restricted common stock, which will amount to 49% of the company's outstanding shares at closing [10]. - The company plans to file a proxy statement with the SEC for stockholder approval regarding the transaction [10][11].
Safe and Green Development Corporation Releases Unaudited Financial Information for Resource Group