Safe and Green Holdings Corp (SGBX)

[Milesblue42]

NEWS Q2 10Q is out

https://www.marketwatch.com/press-release/safe-green-holdings-reports-21-year-over-year-increase-in-manufacturing-revenue-for-q2-2023-strategic-initiatives-expected-to-provide-non-dilutive-funding-demonstrating-strength-of-balance-sheet-and-supporting-accelerated-growth-a9ca2ed0?mod=mw_quote_news_seemore

Recent Highlights:

-- Planned SG DevCo spin-off receives SEC approval with a record date of
8/21/2023 on NASDAQ

-- Closed first tranche of a bridge loan with a European-based entity for
gross proceeds of approximately $1.45 million; funding commitment
provides for up to $2 million in gross proceeds

-- SG Echo to deliver and install three additional Domino's Quick Serve
Restaurant (QSR) units in Oregon on behalf of Noble Food Group, a
franchisee for Domino's

-- SG Echo awarded a multi-million-dollar contract to supply additional
modular units to a long-standing private infrastructure solutions client


-- Planned McLean Manufacturing facility now in the design phase of the
project

-- Magnolia Residential 800-unit project has progressed to the
architectural and engineering design phase

-- Secured a new purchase order, in excess of $2 million, from a long-time,
private customer within the U.S. military and federal space

-- Purchased the Waldron facility with non-dilutive funding

-- Reduced operational cash burn by $2M over 6 months
"In the second quarter of 2023, the Company achieved a 21% year-over-year increase in manufacturing revenue, building on the momentum that we experienced over the past several quarters," commented Paul Galvin, Chairman and CEO of Safe & Green Holdings. "While numerous other companies in our sector are encountering difficulties, often downsizing or even folding entirely, our situation stands in stark contrast as we execute on our business strategy as a vertically integrated developer and manufacturer of modular structures. Notably, we not only survived, but thrived during and after the pandemic, as illustrated by both the growth in our asset base and personnel. Meanwhile, we invested heavily in our business and are now focused on four distinct verticals, each offering opportunities for revenue growth, business expansion, and enhancement of shareholder value."