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Safe & Green Development | 10-Q: Q3 2024 Earnings Report

Safe & Green Development | 10-Q: Q3 2024 Earnings Report

Safe & Green Development | 10-Q：2024财年三季报
美股SEC公告 ·  2024/11/15 05:45

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Safe & Green Development Corporation reported Q3 2024 financial results with revenue of $81,210, marking its first revenue generation primarily from real estate commissions. The company's net loss widened to $2.34 million compared to $923,543 in Q3 2023, driven by increased operating expenses of $1.47 million and interest expenses of $951,239.Operating expenses rose significantly with payroll and related expenses reaching $521,305, up from $228,779 in Q3 2023, while general and administrative expenses increased to $778,448. The company recognized $58,222 in stock-based compensation during the quarter and faced higher professional fees related to being a public company.The company continues to face liquidity challenges with cash balance of just $13,707 as of September 30, 2024. To strengthen its financial position, Safe & Green secured multiple financing arrangements including a $1.39 million convertible debenture from Arena Investors and entered strategic joint ventures for property development in Texas. Management is also pursuing monetization of real estate holdings through potential property sales.
Safe & Green Development Corporation reported Q3 2024 financial results with revenue of $81,210, marking its first revenue generation primarily from real estate commissions. The company's net loss widened to $2.34 million compared to $923,543 in Q3 2023, driven by increased operating expenses of $1.47 million and interest expenses of $951,239.Operating expenses rose significantly with payroll and related expenses reaching $521,305, up from $228,779 in Q3 2023, while general and administrative expenses increased to $778,448. The company recognized $58,222 in stock-based compensation during the quarter and faced higher professional fees related to being a public company.The company continues to face liquidity challenges with cash balance of just $13,707 as of September 30, 2024. To strengthen its financial position, Safe & Green secured multiple financing arrangements including a $1.39 million convertible debenture from Arena Investors and entered strategic joint ventures for property development in Texas. Management is also pursuing monetization of real estate holdings through potential property sales.
Safe & Green 发展公司公布了2024年第三季度的财务结果，营业收入为81,210美元，标志着其首次主要来自房地产业佣金的收入生成。与2023年第三季度的923,543美元相比，公司净亏损扩大至234万，主要由于营业费用增加至147万和利息费用为951,239美元。营业费用显著上升，工资及相关费用达到521,305美元，较2023年第三季度的228,779美元增加，而一般和行政费用增加至778,448美元。公司在本季度确认了58,222美元的基于股票的补偿，并面临与成为上市公司相关的较高专业费用。截至2024年9月30日，公司继续面临流动性挑战，现金余额仅为13,707美元。为了增强其财务状况，Safe & Green 获得了多个融资安排，包括来自Arena Investors的139万可转换债券，并进入了德克萨斯州的战略合资开发项目。管理层还正在通过潜在的物业销售来推动房地产业资产的变现。
Safe & Green 发展公司公布了2024年第三季度的财务结果，营业收入为81,210美元，标志着其首次主要来自房地产业佣金的收入生成。与2023年第三季度的923,543美元相比，公司净亏损扩大至234万，主要由于营业费用增加至147万和利息费用为951,239美元。营业费用显著上升，工资及相关费用达到521,305美元，较2023年第三季度的228,779美元增加，而一般和行政费用增加至778,448美元。公司在本季度确认了58,222美元的基于股票的补偿，并面临与成为上市公司相关的较高专业费用。截至2024年9月30日，公司继续面临流动性挑战，现金余额仅为13,707美元。为了增强其财务状况，Safe & Green 获得了多个融资安排，包括来自Arena Investors的139万可转换债券，并进入了德克萨斯州的战略合资开发项目。管理层还正在通过潜在的物业销售来推动房地产业资产的变现。
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