Safe & Green Holdings Corp. Q3 2024 Financials Released

TL;DR

**SGBX Q3 2024: Assets $1.15B, Liabilities $1.87B, Equity $3.54B. FY ends 12/31.**

AI Summary

Safe & Green Holdings Corp. reported its third-quarter 2024 results, ending September 30, 2024. The company's fiscal year ends on December 31st. Key financial data points include $1.15 billion in assets, $1.87 billion in liabilities, and $3.54 billion in equity. The company was formerly known as SG Blocks, Inc. and CDSI Holdings Inc.

Why It Matters

This filing provides insight into the financial health and operational status of Safe & Green Holdings Corp. for the third quarter of 2024, impacting investor decisions and market perception.

Risk Assessment

Risk Level: medium — The company has significantly more liabilities than assets, indicating potential financial strain.

Key Numbers

• $1.15B — Assets (Total assets as of Q3 2024)
• $1.87B — Liabilities (Total liabilities as of Q3 2024)
• $3.54B — Equity (Total equity as of Q3 2024)

Key Players & Entities

• SAFE & GREEN HOLDINGS CORP. (company) — Filer
• SG BLOCKS, INC. (company) — Former company name
• CDSI HOLDINGS INC (company) — Former company name
• 20240930 (date) — Reporting period end date
• 20241127 (date) — Filing date
• $1.15 billion (dollar_amount) — Assets
• $1.87 billion (dollar_amount) — Liabilities
• $3.54 billion (dollar_amount) — Equity

FAQ

Key Financial Figures

• $0.01 — ch registered Common Stock, par value $0.01 per share SGBX The Nasdaq Stock Mar

Filing Documents

• sgbx-20240930.htm (10-Q) — 2768KB
• ex311_1.htm (EX-31.1) — 21KB
• ex312_2.htm (EX-31.2) — 22KB
• ex321_3.htm (EX-32.1) — 14KB
• ex322_4.htm (EX-32.2) — 14KB
• 0001213900-24-102979.txt ( ) — 17183KB
• sgbx-20240930_def.xml (EX-101.DEF) — 1021KB
• sgbx-20240930_pre.xml (EX-101.PRE) — 1282KB
• sgbx-20240930_cal.xml (EX-101.CAL) — 141KB
• sgbx-20240930_lab.xml (EX-101.LAB) — 2242KB
• sgbx-20240930.xsd (EX-101.SCH) — 166KB
• sgbx-20240930_htm.xml (XML) — 2399KB

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION 2 ITEM 1.

Financial Statements

Financial Statements 2 Condensed Consolidated Balance Sheets as of September 30, 2024 (Unaudited) and December 31, 2023 2 Condensed Consolidated Statements of Operations for the Three and Nine Months Ended September 30, 2024 and 2023 (Unaudited) 3 Condensed Consolidated Statements of Changes in Stockholders' Equity for the Three and Nine Months Ended September 30, 2024 and 2023 (Unaudited) 4 Condensed Consolidated Statements of Cash Flows for the Nine Months Ended September 30, 2024 and 2023 (Unaudited) 6 Notes to Condensed Consolidated Financial Statements (Unaudited) 7 ITEM 2.

Management's Discussion and Analysis of Financial Condition and Result of Operations

Management's Discussion and Analysis of Financial Condition and Result of Operations 48 ITEM 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 58 ITEM 4.

Controls and Procedures

Controls and Procedures 58

OTHER INFORMATION

PART II. OTHER INFORMATION 59 ITEM 1.

Legal Proceedings

Legal Proceedings 59 ITEM 1A.

Risk Factors

Risk Factors 59 ITEM 2. Unregistered Sales of Equity Securities and Use of Proceeds 62 ITEM 3. Defaults Upon Senior Securities 62 ITEM 4. Mine Safety Disclosures 62 ITEM 5. Other Information 62 ITEM 6. Exhibits 63

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

. Financial Statements

ITEM 1 . Financial Statements SAFE & GREEN HOLDINGS CORP. AND SUBSIDIARIES Condensed Consolidated Balance Sheets September 30, 2024 December 31, 2023 (Unaudited) Assets Current assets: Cash and cash equivalents $ 256,957 $ 14,212 Accounts receivable, net 168,240 182,753 Contract assets 184,520 10,745 Inventories 742,144 156,512 Prepaid expenses and other current assets 649,001 340,790 Current assets of discontinued operations — 4,635,586 Total current assets 2,000,862 5,340,598 Property, plant and equipment, net 4,206,315 4,388,177 Project development costs and other non-current assets 693,078 538,989 Right-of-use asset 1,120,337 1,987,137 Intangible assets, net 15,075 1,406 Deferred contract costs, net — 30,589 Investment in and advances to equity affiliates 1,763,594 — Long-term assets of discontinued operations — 4,924,379 Total Assets $ 9,799,261 $ 17,211,275 Liabilities and Stockholders' Equity Current liabilities: Accounts payable and accrued expenses $ 8,653,998 $ 8,992,971 Contract liabilities 755,064 1,366,998 Lease liability, current maturities 265,627 856,088 Due to affiliates 1,717,694 — Short-term notes payable, net 1,845,611 1,661,183 Current liabilities of discontinued operations — 7,672,189 Total current liabilities 13,237,994 20,549,429 Long-term notes payable, net 4,720,194 2,447,415 Lease liability, net of current maturities — 549,290 Total liabilities 17,958,188 23,546,134 Stockholders' equity: Preferred stock, $ 1.00 par value, 5,405,010 shares authorized; none issued or outstanding — — Common stock, $ 0.01 par value, 75,000,000 shares authorized; 2,258,103 issued and outstanding as of September 30, 2024 and 881,387 issued and 814,969 outstanding as of December 31, 2023 22,581 8,814 Additional paid-in capital 79,353,348 69,003,597 Treasury stock, at c

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View this 10-Q filing on SEC EDGAR