Summary by Futu AI
Safe and Green Development Corporation (SG Devco), a Delaware-based real estate development company, reported its financial results for the third quarter ended September 30, 2024, on November 14, 2024. The company announced a GAAP net loss of $2,342,002 and an Adjusted EBITDA loss of $900,881 for the quarter. Despite the losses, SG Devco highlighted several operational achievements, including a $10M investment from Arena Investors, the expansion of its pipeline with three joint ventures in South Texas, compliance with NASDAQ's minimum bid price requirement, and the commencement of construction on six homes in South Texas. The company's CEO, David Villarreal, expressed confidence in the strategic outlook, emphasizing the integration of development and technology assets to create sustainable revenues. The CFO, Nicolai Brune, noted the company...Show More