SG Blocks, Inc. (SGBX) on Q1 2021 Results - Earnings Call Transcript
Operator: Good day and welcome to SG Blocks’ Incorporated First Quarter 2021 Results Conference Call. 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. Thank you all for joining us for our first quarter 2021 call. With me today is Paul Galvin, Chief Executive Officer of SG Blocks. A press release detailing our results was issued this afternoon just after the market close and is available on the company's website at www.sgblocks.com. Before I turn the call over to Paul, please remember that certain statements made during this presentation are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical facts contained in this presentation, including statements regarding the company's future operations and financial position, business strategy, and plans and objectives of management for future operations are forward-looking statements. Paul Galvin: Thank you Steve. I’m extremely pleased to report that SG Blocks had another record quarter and we are on track to another record year. The work we did in 2020 set us up to reap the benefits at the bottom line and our results demonstrate the progress we have made in all fronts. First quarter revenue set a new benchmark, and it comes on the heels of an explosive Q4 2020, which produced $7.4 million in revenue. In total, the past six months have generated in excess of $16 million in revenue. And we believe we can sustain our momentum into 2021. Last year, we made the decision to raise growth capital proactively, control our means of production, and build a pipeline for growth. We have built out multiple verticals, and we now control our own destiny by focusing on the best opportunities we see. We thank our staff, consultants, attorneys, partners and board for their focus effort. Let me now discuss recent activity. In our medical testing and services vertical, we are now providing innovative structures, labs and testing strategies deployable at key locations for much needed point of care, access to healthcare. Our award winning detect lab has proven to be highly functional, and deployable as a cost effective solution to solve local healthcare needs. In January, we executed an agreement with National Pain Centers to provide COVID-19 testing for passengers, airport employees and the public at-large near Chicago’s O’Hare airport. Our facility was subsequently re-leased to a consortium of government entities at a profit, demonstrating the value of our services and the location in which we can quickly deploy. Operator: The conference has now concluded. Thank you for attending today's presentation. You may now disconnect. End of Q&A:
Safe & Green Holdings Corp. (NASDAQ: SGBX) Executes Reverse Stock Split
- Reverse stock split at a ratio of 64-for-1 to meet Nasdaq's minimum bid price requirement.
- Post-split trading began on the Nasdaq Capital Market under the symbol "SGBX".
- Current stock price is $7.17, with a significant decrease of 10.45% today.
Safe & Green Holdings Corp. (NASDAQ: SGBX) is a company that focuses on modular building solutions, emphasizing sustainable construction and innovative real estate development. On September 8, 2025, SGBX executed a reverse stock split at a ratio of 64-for-1. This strategic move is designed to help the company meet Nasdaq's minimum bid price requirement.
The reverse stock split means that every 64 shares of SGBX were consolidated into one share. This action is intended to increase the trading price of the company's shares. As a result, trading on a post-reverse split basis began on the Nasdaq Capital Market under the same symbol, "SGBX". The new CUSIP number for the common stock is 78418A703.
Currently, SGBX is priced at $7.17. The stock has seen a decrease of about 10.45% today, with a price drop of $0.84. The trading range for the day has been between $7.17 and $7.65. Over the past year, SGBX has experienced significant volatility, with a high of $122.88 and a low of $0.1229.
The company's market capitalization is approximately $89.35 million. This figure represents the total market value of the company's outstanding shares. The trading volume for the day is 40,299 shares, indicating the number of shares that have changed hands during the trading session.
Safe & Green Holdings Corp Announces 20 for 1 Reverse Stock Split
Safe & Green Holdings Corp Undergoes Reverse Stock Split
On May 2, 2024, Safe & Green Holdings Corp (NASDAQ: SGBX), a company renowned for its innovative approach in developing, designing, and fabricating modular structures for a variety of sectors, including residential, commercial, and point-of-care medicine, announced a significant change in its stock structure through a 20 for 1 reverse stock split. This financial maneuver aimed at enhancing the company's stock market position was executed following a strategic decision by the company's board of directors.
The reverse stock split was initiated at 12:01 a.m. ET on the specified date, with the company's shares beginning to trade on a post-split basis on the Nasdaq under the existing trading symbol "SGBX" at market open. This decision marked the culmination of a process that began with the company's annual meeting of stockholders on December 6, 2023. During this meeting, an amendment to the company's certificate of incorporation was approved, allowing for a reverse stock split at a ratio ranging from 1-for-10 to 1-for-20. The board of directors was then granted the authority to determine the exact split ratio within this range, ultimately selecting the 1-for-20 ratio.
The rationale behind this decision is illuminated by examining the company's recent stock performance. Prior to the split, SGBX was trading at $0.11, marking a decrease of approximately 4.34%. The stock had experienced fluctuations, trading between a low of $0.10 and a high of $0.12 during the trading day. Over the past year, the stock had seen a high of $1.35 and a low of $0.10. With a market capitalization of around $2 million and a trading volume of approximately 1.82 million shares, the reverse stock split was likely seen as a strategic move to stabilize the company's stock price and improve its attractiveness to investors.
The reverse stock split represents a significant event for Safe & Green Holdings Corp, reflecting the company's efforts to maintain its compliance with Nasdaq's listing requirements and to potentially enhance shareholder value. By consolidating its shares, SGBX aims to increase its stock price, making it more appealing to a broader range of investors and possibly reducing the volatility of its stock. This move is part of the company's broader strategy to strengthen its financial standing and continue its growth in the development and fabrication of modular structures for various sectors.
