Safe and Green Development Corporation - SGD STOCK NEWS

Safe and Green Development (NASDAQ: SGD) has entered two new joint ventures for developing single-family homes in South Texas. The company secured 160 additional lots across two parcels totaling 21 acres, expanding their total South Texas pipeline to approximately 250 lots. The development includes Hacienda Olivia Phases III & IV, following Phase II which is currently under horizontal development with 57 lots expected ready in Q1 2025. The new phases are scheduled to begin horizontal development in Q2 2025, with completion targeted for late 2025.

Safe and Green Development (NASDAQ: SGD) reported Q3 2024 financial results with revenues of $81,210 and a GAAP net loss of ($2,342,002). Key highlights include securing a $10M investment from Arena Investors, expanding operations with 3 Joint Ventures in South Texas, and starting construction on 6 homes. The company plans to sell its St. Mary's property in Q4 and expects the first phase of Sugar Phase 1 Development to generate approximately $1,200,000 in revenue to the Joint Venture by Q1 2025. The company aims to deliver and sell 40 homes throughout 2025, targeting approximately $8,000,000 in Joint Venture revenue.

Safe and Green Development (NASDAQ: SGD) has secured its first construction loan of $554,222 for the Sugar Phase I project. The loan will be disbursed in draws based on construction progress, with home delivery expected in early Q1 2025. The Joint Venture anticipates generating revenues of approximately $1,000,000 from home sales, with projected net profits of $380,000 after expenses. These financial metrics are expected to be replicated across the remaining units in the 35-unit development.

Safe and Green Development (NASDAQ: SGD) has initiated construction on its Sugar Phase I project in South Texas following site work completion and permit acquisition. The project's first phase encompasses the construction of 5 single-family homes. The company has already completed foundation work, with framing expected to be finished within the week. This development represents a strategic move to address housing demands in South Texas communities. The company has released a video documenting the project's progress on their website.

Safe and Green Development (Nasdaq: SGD) has received formal notice from Nasdaq confirming its regained compliance with the minimum bid price requirement under Listing Rule 5550(a)(2). The company's CEO, David Villarreal, expressed satisfaction with regaining compliance, emphasizing their commitment to enhancing shareholder value and ensuring long-term growth through the execution of strategic initiatives.

Safe and Green Development (NASDAQ: SGD) has achieved a significant milestone by pouring the foundation for its first home in South Texas. The company, which recently secured financing for vertical construction, expects to deliver the model home within 75 days. Additionally, SGD received all necessary approvals and construction financing for the first 5 homes of its Sugar Phase I Development, with construction set to begin in the coming weeks.

Safe and Green Development (NASDAQ: SGD) CEO David Villarreal has released a letter to shareholders addressing recent developments. The company completed a reverse stock split to maintain its NASDAQ listing and comply with minimum bid price requirements. Villarreal expressed disappointment with the stock's performance post-split, noting a drop from a $5M market cap to $2.5M without fundamental business changes.

He emphasized that the current market capitalization doesn't reflect the company's true value, citing previously appraised real estate assets of approximately $50M. Villarreal highlighted SGD's growth through strategic acquisitions and joint ventures, which aim to accelerate revenue generation. The company is focusing on developing safe, environmentally conscious housing and enhancing homeownership accessibility through technology platforms. SGD anticipates significant revenue generation from its South Texas growth market in 2025 and beyond, with ongoing strategic asset sales to improve its balance sheet.

Safe and Green Development (NASDAQ: SGD) has completed site work and obtained necessary permits for the first phase of its Sugar Phase I project in South Texas. The company has finished resurfacing lots and received elevation certificates, allowing vertical construction to begin. SG Devco expects to deliver the first phase of homes by Q1 2025 and aims to sell all 35 homes to Trio, acting as Program Administrator for Choctaw American Insurance, Inc., within that quarter.

CEO David Villarreal expressed enthusiasm about reaching this milestone, highlighting it as the beginning of the company's development efforts in South Texas. The Sugar Phase I project is a important component of SG Devco's strategy to provide high-quality housing in growing communities, addressing the increasing demand in the region.

Safe and Green Development (NASDAQ: SGD) has accepted a preliminary binding purchase commitment from Trio, acting as Program Administrator for Choctaw American Insurance, Inc., for its South Texas development project. The commitment includes:

• Sale of the first 5 homes, expected to generate approximately $1,000,000 in revenue
• Potential purchase of up to 14 homes, generating sales of approximately $2,800,000
• Trio to purchase a maximum of 40% of lots within a subdivision

The agreement is subject to individual Purchase and Sale Agreements and identification of Trio-approved occupants. Closings will occur within 14 days of homes being ready for occupancy. This commitment signifies strong demand for single-family housing in the region and marks SG Devco's first pre-sales in company history.