2023 Q3 Form 10-Q Financial Statement

#000121390023066552 Filed on August 14, 2023

View on sec.gov

Income Statement

Concept 2023 Q3 2023 Q2 2022 Q2
Revenue $3.965M $5.097M $7.555M
YoY Change -3.99% -32.53% -36.27%
Cost Of Revenue $4.501M $5.063M $6.783M
YoY Change 4.79% -25.35% -31.09%
Gross Profit -$536.0K $33.63K $772.0K
YoY Change 224.53% -95.64% -61.62%
Gross Profit Margin -13.52% 0.66% 10.22%
Selling, General & Admin $1.619M $1.460M $888.3K
YoY Change 55.37% 64.36% -21.59%
% of Gross Profit 4341.54% 115.07%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $92.98K $92.47K $106.2K
YoY Change -12.5% -12.89% -0.99%
% of Gross Profit 274.97% 13.75%
Operating Expenses $2.439M $5.644M $2.100M
YoY Change 4.37% 168.81% 8.49%
Operating Profit -$2.975M -$5.611M -$1.328M
YoY Change 18.9% 322.55% -1848.72%
Interest Expense $738.6K $524.0K $73.13K
YoY Change 1300.07% 616.53% 22126.75%
% of Operating Profit
Other Income/Expense, Net -$633.0K $55.33K $310.3K
YoY Change 1277.17% -82.17% 316.5%
Pretax Income -$3.608M -$5.556M -$1.018M
YoY Change 41.6% 445.95% -776.48%
Income Tax
% Of Pretax Income
Net Earnings -$3.608M -$5.556M -$1.415M
YoY Change 47.06% 292.52% -8.17%
Net Earnings / Revenue -90.99% -108.99% -18.73%
Basic Earnings Per Share -$0.22 -$0.37 -$0.11
Diluted Earnings Per Share -$0.22 -$0.37 -$107.0K
COMMON SHARES
Basic Shares Outstanding 16.02M shares 14.30M shares 13.23M shares
Diluted Shares Outstanding 16.06M shares 14.89M shares 13.23M shares

Balance Sheet

Concept 2023 Q3 2023 Q2 2022 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $712.9K $1.601M $2.428M
YoY Change -66.34% -34.05% 4.5%
Cash & Equivalents $712.9K $1.601M $2.428M
Short-Term Investments
Other Short-Term Assets $4.001M $2.232M $4.183M
YoY Change 54.77% -46.63% -80.08%
Inventory $402.2K $823.1K $928.1K
Prepaid Expenses
Receivables $741.3K $646.3K $2.510M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $7.102M $9.327M $15.19M
YoY Change -40.18% -38.61% 66.41%
LONG-TERM ASSETS
Property, Plant & Equipment $6.901M $6.990M $4.807M
YoY Change 41.39% 45.43% -33.03%
Goodwill $1.309M $1.309M $1.309M
YoY Change 0.0% 0.0% 0.0%
Intangibles $1.951M $1.996M $2.013M
YoY Change -1.08% -0.82% -7.61%
Long-Term Investments $4.343M $4.325M $4.300M
YoY Change -2.38% 0.58% 28.34%
Other Assets $40.79K $50.98K $91.77K
YoY Change -49.99% -44.45% -30.77%
Total Long-Term Assets $18.23M $18.54M $16.95M
YoY Change 6.72% 9.38% 3.79%
TOTAL ASSETS
Total Short-Term Assets $7.102M $9.327M $15.19M
Total Long-Term Assets $18.23M $18.54M $16.95M
Total Assets $25.33M $27.86M $32.14M
YoY Change -12.51% -13.3% 26.25%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $6.193M $7.026M $4.463M
YoY Change 77.26% 57.45% -24.62%
Accrued Expenses $773.4K $307.1K $459.7K
YoY Change 68.94% -33.2% 10.4%
Deferred Revenue $1.311M $168.8K $1.770M
YoY Change 2.87% -90.46% 124.27%
Short-Term Debt $7.157M $6.815M $0.00
YoY Change
Long-Term Debt Due $227.8K $769.3K $19.79K
YoY Change 1274.47% 3787.27% 3.07%
Total Short-Term Liabilities $15.68M $15.11M $8.715M
YoY Change 102.4% 73.35% 15.06%
LONG-TERM LIABILITIES
Long-Term Debt $2.897M $3.034M $751.7K
YoY Change 286.28% 303.68% 3402.7%
Other Long-Term Liabilities $337.0K $397.0K $2.308M
YoY Change -84.65% -82.8% 126.14%
Total Long-Term Liabilities $3.234M $3.431M $3.060M
YoY Change 9.8% 12.14% 193.6%
TOTAL LIABILITIES
Total Short-Term Liabilities $15.68M $15.11M $8.715M
Total Long-Term Liabilities $3.234M $3.431M $3.060M
Total Liabilities $18.92M $18.54M $11.78M
YoY Change 76.89% 57.44% 36.65%
SHAREHOLDERS EQUITY
Retained Earnings -$62.33M -$50.50M -$35.24M
YoY Change 65.36% 43.31% 36.32%
Common Stock $164.8K $160.2K $120.5K
YoY Change 36.78% 32.91% 36.58%
Preferred Stock
YoY Change
Treasury Stock (at cost) $92.40K $92.40K
YoY Change 85.98%
Treasury Stock Shares 67.32K shares
Shareholders Equity $5.502M $9.754M $19.54M
YoY Change
Total Liabilities & Shareholders Equity $25.33M $27.86M $32.14M
YoY Change -12.51% -13.3% 26.25%

Cashflow Statement

Concept 2023 Q3 2023 Q2 2022 Q2
OPERATING ACTIVITIES
Net Income -$3.608M -$5.556M -$1.415M
YoY Change 47.06% 292.52% -8.17%
Depreciation, Depletion And Amortization $92.98K $92.47K $106.2K
YoY Change -12.5% -12.89% -0.99%
Cash From Operating Activities -$1.632M -$1.660M -$8.620M
YoY Change 756.13% -80.74% -1088.42%
INVESTING ACTIVITIES
Capital Expenditures $9.940K $30.66K -$490.3K
YoY Change -104.07% -106.25% -87.22%
Acquisitions
YoY Change
Other Investing Activities -$12.66K $0.00 -$726.4K
YoY Change -94.44% -100.0% -78.75%
Cash From Investing Activities -$22.60K -$30.66K -$1.217M
YoY Change -95.21% -97.48% -83.23%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 764.6K 1.840M -882.0K
YoY Change 117.02% -308.61% -51.95%
NET CHANGE
Cash From Operating Activities -1.632M -1.660M -8.620M
Cash From Investing Activities -22.60K -30.66K -1.217M
Cash From Financing Activities 764.6K 1.840M -882.0K
Net Change In Cash -889.9K 148.8K -10.72M
YoY Change 187.02% -101.39% 30.44%
FREE CASH FLOW
Cash From Operating Activities -$1.632M -$1.660M -$8.620M
Capital Expenditures $9.940K $30.66K -$490.3K
Free Cash Flow -$1.642M -$1.691M -$8.129M
YoY Change -3163.63% -79.2% -272.69%

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-0.11
CY2022Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.11
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.64
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.64
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.16
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.16
CY2023Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
14889077 shares
CY2023Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
14889077 shares
CY2022Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
13226451 shares
CY2022Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
13226451 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
14234301 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
14234301 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
13110821 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
13110821 shares
CY2023Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
12321638 usd
CY2023Q2 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
2554262 usd
CY2023Q2 us-gaap Stock Repurchased And Retired During Period Value
StockRepurchasedAndRetiredDuringPeriodValue
42716 usd
CY2023Q2 sgbx Stock Issued During Period Value Restricted Stock Units Net Of Forfeitures
StockIssuedDuringPeriodValueRestrictedStockUnitsNetOfForfeitures
usd
CY2023Q2 us-gaap Stock Issued During Period Value Issued For Services
StockIssuedDuringPeriodValueIssuedForServices
47500 usd
CY2023Q2 us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
usd
CY2023Q2 us-gaap Profit Loss
ProfitLoss
-5555524 usd
CY2023Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
9325160 usd
CY2022Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
14439562 usd
us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
3210631 usd
us-gaap Stock Issued During Period Value Restricted Stock Award Net Of Forfeitures
StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures
437325 usd
sgbx Stock Issued During Period Value Restricted Stock Units Net Of Forfeitures
StockIssuedDuringPeriodValueRestrictedStockUnitsNetOfForfeitures
usd
us-gaap Stock Issued During Period Value Issued For Services
StockIssuedDuringPeriodValueIssuedForServices
47500 usd
us-gaap Stock Issued During Period Value Conversion Of Convertible Securities
StockIssuedDuringPeriodValueConversionOfConvertibleSecurities
354239 usd
us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
46417 usd
us-gaap Stock Repurchased And Retired During Period Value
StockRepurchasedAndRetiredDuringPeriodValue
42716 usd
us-gaap Profit Loss
ProfitLoss
-9074964 usd
CY2023Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
9325160 usd
CY2022Q2 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
631076 usd
CY2022Q2 sgbx Stock Issued During Period Value Restricted Stock Units Net Of Forfeitures
StockIssuedDuringPeriodValueRestrictedStockUnitsNetOfForfeitures
usd
CY2022Q2 us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
882000 usd
CY2022Q2 us-gaap Profit Loss
ProfitLoss
-1017596 usd
CY2022Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
20364083 usd
CY2021Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
21715789 usd
us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
1320162 usd
sgbx Stock Issued During Period Value Restricted Stock Units Net Of Forfeitures
StockIssuedDuringPeriodValueRestrictedStockUnitsNetOfForfeitures
usd
us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
2156000 usd
us-gaap Profit Loss
ProfitLoss
-515868 usd
CY2022Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
20364083 usd
us-gaap Profit Loss
ProfitLoss
-9074964 usd
us-gaap Profit Loss
ProfitLoss
-515868 usd
us-gaap Depreciation
Depreciation
210977 usd
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
93410 usd
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
82204 usd
us-gaap Other Amortization Of Deferred Charges
OtherAmortizationOfDeferredCharges
20393 usd
us-gaap Other Amortization Of Deferred Charges
OtherAmortizationOfDeferredCharges
20392 usd
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
411811 usd
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
21569 usd
us-gaap Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
428934 usd
us-gaap Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
232401 usd
us-gaap Issuance Of Stock And Warrants For Services Or Claims
IssuanceOfStockAndWarrantsForServicesOrClaims
484825 usd
us-gaap Issuance Of Stock And Warrants For Services Or Claims
IssuanceOfStockAndWarrantsForServicesOrClaims
usd
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
usd
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
7024 usd
us-gaap Gain Loss On Investments
GainLossOnInvestments
18699 usd
us-gaap Gain Loss On Investments
GainLossOnInvestments
18596 usd
us-gaap Share Based Compensation
ShareBasedCompensation
3210631 usd
us-gaap Share Based Compensation
ShareBasedCompensation
1280162 usd
us-gaap Gain Loss On Disposition Of Assets
GainLossOnDispositionOfAssets
usd
us-gaap Gain Loss On Disposition Of Assets
GainLossOnDispositionOfAssets
-241 usd
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-634195 usd
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-400430 usd
us-gaap Increase Decrease In Deposit Other Assets
IncreaseDecreaseInDepositOtherAssets
usd
us-gaap Increase Decrease In Deposit Other Assets
IncreaseDecreaseInDepositOtherAssets
4000000 usd
us-gaap Increase Decrease In Contract With Customer Asset
IncreaseDecreaseInContractWithCustomerAsset
835925 usd
us-gaap Increase Decrease In Contract With Customer Asset
IncreaseDecreaseInContractWithCustomerAsset
-41916 usd
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
357575 usd
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
-345705 usd
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
239441 usd
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
276757 usd
us-gaap Increase Decrease In Intangible Assets Current
IncreaseDecreaseInIntangibleAssetsCurrent
92005 usd
us-gaap Increase Decrease In Intangible Assets Current
IncreaseDecreaseInIntangibleAssetsCurrent
usd
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
3016961 usd
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-3040292 usd
us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
-268479 usd
us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
332025 usd
us-gaap Increase Decrease In Due To Related Parties Current
IncreaseDecreaseInDueToRelatedPartiesCurrent
usd
us-gaap Increase Decrease In Due To Related Parties Current
IncreaseDecreaseInDueToRelatedPartiesCurrent
-264451 usd
us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
-653213 usd
us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
-221627 usd
sgbx Increase Decrease In Assumed Liability Of Business Transferred
IncreaseDecreaseInAssumedLiabilityOfBusinessTransferred
15000 usd
sgbx Increase Decrease In Assumed Liability Of Business Transferred
IncreaseDecreaseInAssumedLiabilityOfBusinessTransferred
usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-3039177 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-5362545 usd
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
526324 usd
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
1751999 usd
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
usd
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
760 usd
us-gaap Payments To Fund Longterm Loans To Related Parties
PaymentsToFundLongtermLoansToRelatedParties
usd
us-gaap Payments To Fund Longterm Loans To Related Parties
PaymentsToFundLongtermLoansToRelatedParties
100000 usd
us-gaap Payments To Acquire In Process Research And Development
PaymentsToAcquireInProcessResearchAndDevelopment
117682 usd
us-gaap Payments To Acquire In Process Research And Development
PaymentsToAcquireInProcessResearchAndDevelopment
726386 usd
us-gaap Payments To Acquire Interest In Subsidiaries And Affiliates
PaymentsToAcquireInterestInSubsidiariesAndAffiliates
25000 usd
us-gaap Payments To Acquire Interest In Subsidiaries And Affiliates
PaymentsToAcquireInterestInSubsidiariesAndAffiliates
usd
us-gaap Payments To Acquire Longterm Investments
PaymentsToAcquireLongtermInvestments
usd
us-gaap Payments To Acquire Longterm Investments
PaymentsToAcquireLongtermInvestments
500000 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-669006 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-3077625 usd
us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
2500000 usd
us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
usd
us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
6609512 usd
us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
usd
us-gaap Proceeds From Issuance Of Secured Debt
ProceedsFromIssuanceOfSecuredDebt
706359 usd
us-gaap Proceeds From Issuance Of Secured Debt
ProceedsFromIssuanceOfSecuredDebt
usd
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
42716 usd
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
usd
us-gaap Payments To Minority Shareholders
PaymentsToMinorityShareholders
46417 usd
us-gaap Payments To Minority Shareholders
PaymentsToMinorityShareholders
2156000 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
4726738 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-2156000 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
1018555 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
-10596170 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
582776 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
13024381 usd
CY2023Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
1601331 usd
CY2022Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
2428211 usd
us-gaap Capital Lease Obligations Incurred
CapitalLeaseObligationsIncurred
usd
us-gaap Capital Lease Obligations Incurred
CapitalLeaseObligationsIncurred
1801584 usd
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
4 segments
CY2023Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
1601331 usd
CY2023Q2 us-gaap Other Assets Current
OtherAssetsCurrent
2232465 usd
CY2023Q2 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
2232465 usd
sgbx Working Capital
WorkingCapital
5780773 usd
us-gaap Use Of Estimates
UseOfEstimates
<div style="font-family: 'times new roman', times; font-size: 10pt;"> <div> <div> <div> <p style="color: #000000; font: 10pt 'Times New Roman', Times, serif; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial; margin: 0pt 0px 0pt 0.5in;"><span style="font-size: 10pt; line-height: inherit;"><span style="color: black;"><span style="border-left: none; border-right: none; line-height: inherit;"><span style="border-right: none; border-left: none; line-height: inherit;"><b><i>Accounting estimates<span style="line-height: inherit;"> </span></i></b>– The preparation of condensed consolidated financial statements in conformity with GAAP requires management to make estimates, judgements and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amount of revenues and expenses during the reporting period, together with amounts disclosed in the related notes to the financial statements. <span style="font-family: 'times new roman', times; line-height: inherit;">The Company's estimates used in these financial statements include, but are not limited to, revenue recognition, stock-based compensation, accounts receivable reserves, inventory valuations, goodwill, the valuation allowance related to the Company’s deferred tax assets, the carrying amount of intangible assets, right of use assets and the recoverability and useful lives of long-lived assets. Certain of the Company’s estimates could be affected by external conditions, including those unique to the Company and general economic conditions. It is reasonably possible that these external factors could have an effect on the Company’s estimates and could cause actual results to differ from those estimates.</span></span></span></span></span></p> </div> </div> </div> </div>
sgbx No Of Operating Cycles
NoOfOperatingCycles
one year
us-gaap Deferred Revenue Revenue Recognized1
DeferredRevenueRevenueRecognized1
0 usd
us-gaap Deferred Revenue Revenue Recognized1
DeferredRevenueRevenueRecognized1
10200000 usd
sgbx Revenue Recognized At Point In Time
RevenueRecognizedAtPointInTime
0 usd
sgbx Revenue Recognized Over Time
RevenueRecognizedOverTime
10600990 usd
sgbx Revenue Recognized At Point In Time
RevenueRecognizedAtPointInTime
10203215 usd
sgbx Revenue Recognized Over Time
RevenueRecognizedOverTime
5956354 usd
CY2023Q2 sgbx Revenue Recognized At Point In Time
RevenueRecognizedAtPointInTime
0 usd
CY2023Q2 sgbx Revenue Recognized Over Time
RevenueRecognizedOverTime
5097055 usd
CY2022Q2 sgbx Revenue Recognized At Point In Time
RevenueRecognizedAtPointInTime
3317387 usd
CY2022Q2 sgbx Revenue Recognized Over Time
RevenueRecognizedOverTime
4237584 usd
CY2023Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
5097055 usd
CY2023Q2 sgbx Revenue From Contract With Customer Excluding Assessed Tax Percentage
RevenueFromContractWithCustomerExcludingAssessedTaxPercentage
1 pure
CY2022Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
7554971 usd
CY2022Q2 sgbx Revenue From Contract With Customer Excluding Assessed Tax Percentage
RevenueFromContractWithCustomerExcludingAssessedTaxPercentage
1 pure
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
10600990 usd
sgbx Revenue From Contract With Customer Excluding Assessed Tax Percentage
RevenueFromContractWithCustomerExcludingAssessedTaxPercentage
1 pure
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
16159569 usd
sgbx Revenue From Contract With Customer Excluding Assessed Tax Percentage
RevenueFromContractWithCustomerExcludingAssessedTaxPercentage
1 pure
CY2023Q2 us-gaap Accounts Receivable Related Parties Current
AccountsReceivableRelatedPartiesCurrent
306143 usd
CY2023Q2 us-gaap Deferred Costs And Other Assets
DeferredCostsAndOtherAssets
102217 usd
CY2023Q2 us-gaap Deferred Costs Current And Noncurrent
DeferredCostsCurrentAndNoncurrent
203926 usd
CY2023Q2 us-gaap Accumulated Amortization Of Other Deferred Costs
AccumulatedAmortizationOfOtherDeferredCosts
152944 usd
sgbx Deferred Contract Costs Amortization Expense
DeferredContractCostsAmortizationExpense
20393 usd
sgbx Deferred Contract Costs Amortization Expense
DeferredContractCostsAmortizationExpense
20392 usd
CY2020Q3 us-gaap Stock Issued During Period Shares Restricted Stock Award Gross
StockIssuedDuringPeriodSharesRestrictedStockAwardGross
200000 shares
CY2021Q2 us-gaap Deferred Revenue Revenue Recognized1
DeferredRevenueRevenueRecognized1
600000 usd
CY2021Q2 us-gaap Related Party Transaction Other Revenues From Transactions With Related Party
RelatedPartyTransactionOtherRevenuesFromTransactionsWithRelatedParty
350329 usd
CY2021Q2 us-gaap Deferred Revenue Revenue Recognized1
DeferredRevenueRevenueRecognized1
3000000 usd
us-gaap Payments To Acquire Interest In Subsidiaries And Affiliates
PaymentsToAcquireInterestInSubsidiariesAndAffiliates
25000 usd
us-gaap Equity Method Investment Other Than Temporary Impairment
EquityMethodInvestmentOtherThanTemporaryImpairment
0 usd
CY2023Q2 sgbx Contract With Customer Assets Net Current
ContractWithCustomerAssetsNetCurrent
872309 usd
CY2022Q4 sgbx Contract With Customer Assets Net Current
ContractWithCustomerAssetsNetCurrent
36384 usd
CY2023Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
1601331 usd
CY2022Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
582776 usd
CY2023Q2 us-gaap Short Term Investments
ShortTermInvestments
0 usd
CY2022Q4 us-gaap Short Term Investments
ShortTermInvestments
0 usd
us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0 usd
us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0 usd
CY2022Q4 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
437271 usd
CY2023Q2 sgbx Contract With Customer Net Asset Liability
ContractWithCustomerNetAssetLiability
703517 usd
CY2022Q4 sgbx Contract With Customer Net Asset Liability
ContractWithCustomerNetAssetLiability
-400887 usd
CY2023Q2 us-gaap Finite Lived Trademarks Gross
FiniteLivedTrademarksGross
68344 usd
us-gaap Impairment Of Intangible Assets Excluding Goodwill
ImpairmentOfIntangibleAssetsExcludingGoodwill
0 usd
us-gaap Impairment Of Intangible Assets Excluding Goodwill
ImpairmentOfIntangibleAssetsExcludingGoodwill
0 usd
CY2023Q2 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
1074372 usd
CY2022Q2 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
897937 usd
us-gaap Adjustment For Amortization
AdjustmentForAmortization
93410 usd
us-gaap Adjustment For Amortization
AdjustmentForAmortization
82204 usd
CY2023Q2 us-gaap Adjustment For Amortization
AdjustmentForAmortization
47291 usd
us-gaap Property Plant And Equipment Useful Life
PropertyPlantAndEquipmentUsefulLife
P5Y
CY2023Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
96397 usd
CY2023Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
192436 usd
CY2023Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
189019 usd
CY2023Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
171684 usd
CY2023Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
168006 usd
CY2023Q2 us-gaap Finite Lived Intangible Assets Amortization Expense After Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFive
1178886 usd
CY2023Q2 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
1996428 usd
CY2021Q2 sgbx Project Development Costs
ProjectDevelopmentCosts
824231 usd
CY2021Q2 sgbx Project Development Costs Book Value
ProjectDevelopmentCostsBookValue
4400361 usd
CY2023Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
7894061 usd
us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="margin: 0pt 0pt 0pt 36pt; text-align: justify; line-height: 1.2;"><span style="font-size: 10pt; line-height: inherit;"><span style="font-family: 'Times New Roman'; font-style: italic; font-weight: bold; line-height: inherit;">Concentrations of credit risk </span><span style="font-family: 'Times New Roman'; font-style: italic; line-height: inherit;">–</span><span style="font-family: 'Times New Roman'; line-height: inherit;"> Financial instruments, that potentially subject the Company to concentration of credit risk, consist principally of cash and cash equivalents. The Company places its cash with high credit quality institutions. At times, such amounts may be in excess of the FDIC insurance limits. The Company has not experienced any losses in such account and believes that it is not exposed to any </span><span style="font-family: 'Times New Roman'; line-height: inherit;">significant </span><span style="font-family: 'Times New Roman'; line-height: inherit;">credit risk on the account. <br/></span><span style="font-family: 'Times New Roman'; line-height: inherit;"> </span></span></p> <p style="margin: 0pt 0pt 0pt 36pt; text-align: justify; line-height: 1.2;"><span style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">With respect to receivables, concentrations of credit risk are limited to a few customers in the construction industry. The Company performs ongoing credit evaluations of its customers’ financial condition and, generally, requires no collateral from its customers other than normal lien rights. At June 30, 2023 and December 31, 2022, 96% and 80%, respectively, of the Company’s gross accounts receivable were due from <span style="border-left: none; border-right: none; line-height: inherit;">four</span> and three customers. </span></p> <p style="margin: 0pt 0pt 0pt 36pt; text-align: justify; line-height: 1.2;"><br/></p> <p style="margin: 0pt 0pt 0pt 36pt; text-align: justify; line-height: 1.2;"><span style="font-family: 'times new roman', times; font-size: 10pt; line-height: inherit;">Revenue relating to one and two customers represented approximately 96% and 97% of the Company's total revenue for the <span style="line-height: inherit;"><span style="font-family: 'Times New Roman', 'serif'; line-height: inherit;">three months ended June 30, 2023</span></span><span style="line-height: inherit;"><span style="font-family: 'Times New Roman', 'serif'; line-height: inherit;"> and </span></span><span style="line-height: inherit;"><span style="font-family: 'Times New Roman', 'serif'; line-height: inherit;"><span style="border-left: none; border-right: none; line-height: inherit;">2022</span></span></span><span style="line-height: inherit;"><span style="font-family: 'Times New Roman', 'serif'; line-height: inherit;">, respectively. <span style="color: #000000; font-family: 'times new roman', times; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; line-height: inherit;"><span style="font-family: 'Times New Roman', 'serif'; line-height: inherit;">Revenue relating to </span></span><span style="color: #000000; font-family: 'times new roman', times; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; line-height: inherit;"><span style="font-family: 'Times New Roman', 'serif'; line-height: inherit;">one</span></span><span style="color: #000000; font-family: 'times new roman', times; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; line-height: inherit;"><span style="font-family: 'Times New Roman', 'serif'; line-height: inherit;"> and </span></span><span style="color: #000000; font-family: 'times new roman', times; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; line-height: inherit;"><span style="font-family: 'Times New Roman', 'serif'; line-height: inherit;">one</span></span><span style="color: #000000; font-family: 'times new roman', times; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; line-height: inherit;"><span style="font-family: 'Times New Roman', 'serif'; line-height: inherit;"> customers represented approximately 96</span></span><span style="color: #000000; font-family: 'times new roman', times; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; line-height: inherit;"><span style="font-family: 'Times New Roman', 'serif'; line-height: inherit;">% and </span></span><span style="color: #000000; font-family: 'times new roman', times; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; line-height: inherit;"><span style="font-family: 'Times New Roman', 'serif'; line-height: inherit;">90</span></span><span style="color: #000000; font-family: 'times new roman', times; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; line-height: inherit;"><span style="font-family: 'Times New Roman', 'serif'; line-height: inherit;">% of the Company's total revenue for the </span></span><span style="color: #000000; font-family: 'times new roman', times; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: justify; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important; line-height: inherit;">six months ended June 30, 2023 and 2022, respectively.</span></span></span></span></p> <p style="margin: 0pt 0pt 0pt 36pt; text-align: justify; line-height: 1.2;"><br/></p> <p style="margin: 0in 0in 0in 0.5in; text-align: justify; line-height: 12pt; font-size: 10pt; font-family: 'Times New Roman', serif;"><span style="font-size: 10pt; color: #000000; font-family: 'times new roman', times;">Cost of revenue relating to two vendors represented approximately 12% of the Company’s total cost of revenue for the three months ended June 30, 2022. Cost of revenue relating to three vendors represented approximately 10% of the Company’s total cost of revenue for the six months ended June 30, 2022. There were no vendors representing 10% or more of the Company’s total cost of revenue for the three or six months ended June 30, 2023. The Company believes it has access to alternative suppliers, with limited disruption to the business, should circumstances change with its existing suppliers.</span><span style="font-size: 10.0pt;"></span></p>
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