2024 Q1 Form 10-K Financial Statement
#000121390024028274 Filed on April 01, 2024
Income Statement
Concept | 2024 Q1 | 2023 Q4 | 2023 |
---|---|---|---|
Revenue | $49.82K | $0.00 | $0.00 |
YoY Change | |||
Cost Of Revenue | |||
YoY Change | |||
Gross Profit | |||
YoY Change | |||
Gross Profit Margin | |||
Selling, General & Admin | $535.4K | $1.222M | $3.023M |
YoY Change | -25.64% | 49.03% | 41.28% |
% of Gross Profit | |||
Research & Development | |||
YoY Change | |||
% of Gross Profit | |||
Depreciation & Amortization | $161.00 | $160.00 | $236.00 |
YoY Change | |||
% of Gross Profit | |||
Operating Expenses | $2.551M | $1.222M | $3.023M |
YoY Change | 254.37% | 49.03% | 41.28% |
Operating Profit | -$2.502M | -$3.023M | |
YoY Change | 247.01% | 41.42% | |
Interest Expense | $566.0K | -$363.4K | $1.178M |
YoY Change | -414.44% | 179.53% | -480.1% |
% of Operating Profit | |||
Other Income/Expense, Net | $900.00 | $1.218K | |
YoY Change | |||
Pretax Income | -$3.068M | -$1.585M | -$4.201M |
YoY Change | 240.85% | 65.06% | 72.15% |
Income Tax | |||
% Of Pretax Income | |||
Net Earnings | -$3.068M | -$1.585M | -$4.201M |
YoY Change | 240.85% | 65.06% | 72.15% |
Net Earnings / Revenue | -6158.0% | ||
Basic Earnings Per Share | -$0.26 | -$1.43 | |
Diluted Earnings Per Share | -$0.26 | -$0.54 | -$1.42 |
COMMON SHARES | |||
Basic Shares Outstanding | 14.35M shares | 10.00M shares | 2.933M shares |
Diluted Shares Outstanding | 11.86M shares | 2.933M shares |
Balance Sheet
Concept | 2024 Q1 | 2023 Q4 | 2023 |
---|---|---|---|
SHORT-TERM ASSETS | |||
Cash & Short-Term Investments | $77.54K | $3.240K | $3.240K |
YoY Change | -94.21% | ||
Cash & Equivalents | $77.54K | $3.236K | |
Short-Term Investments | |||
Other Short-Term Assets | $410.4K | $232.0K | $232.0K |
YoY Change | -44.54% | 673.3% | 673.3% |
Inventory | |||
Prepaid Expenses | |||
Receivables | |||
Other Receivables | |||
Total Short-Term Assets | $487.9K | $235.2K | $235.2K |
YoY Change | -76.54% | 813.14% | 684.1% |
LONG-TERM ASSETS | |||
Property, Plant & Equipment | $35.41K | $3.569K | $1.194M |
YoY Change | -97.02% | 0.35% | |
Goodwill | $1.811M | $22.21K | |
YoY Change | |||
Intangibles | $153.4K | $22.21K | |
YoY Change | |||
Long-Term Investments | $3.643M | $3.643M | $3.643M |
YoY Change | 0.62% | 1.19% | 1.18% |
Other Assets | $4.492M | $4.466M | $4.466M |
YoY Change | 0.49% | 7912.81% | 0.35% |
Total Long-Term Assets | $11.32M | $9.325M | $9.325M |
YoY Change | 21.9% | 0.88% | 0.92% |
TOTAL ASSETS | |||
Total Short-Term Assets | $487.9K | $235.2K | $235.2K |
Total Long-Term Assets | $11.32M | $9.325M | $9.325M |
Total Assets | $11.81M | $9.560M | $9.560M |
YoY Change | 3.89% | 3.14% | 3.13% |
SHORT-TERM LIABILITIES | |||
YoY Change | |||
Accounts Payable | $1.301M | $601.3K | $601.3K |
YoY Change | 519.65% | 131.27% | 131.27% |
Accrued Expenses | |||
YoY Change | |||
Deferred Revenue | |||
YoY Change | |||
Short-Term Debt | $6.756M | $6.811M | $6.811M |
YoY Change | 42.54% | 157.18% | 157.02% |
Long-Term Debt Due | |||
YoY Change | |||
Total Short-Term Liabilities | $8.318M | $7.672M | $7.672M |
YoY Change | -9.1% | 8.0% | 8.06% |
LONG-TERM LIABILITIES | |||
Long-Term Debt | $0.00 | $0.00 | $0.00 |
YoY Change | |||
Other Long-Term Liabilities | $945.0K | ||
YoY Change | |||
Total Long-Term Liabilities | $945.0K | $0.00 | $0.00 |
YoY Change | |||
TOTAL LIABILITIES | |||
Total Short-Term Liabilities | $8.318M | $7.672M | $7.672M |
Total Long-Term Liabilities | $945.0K | $0.00 | $0.00 |
Total Liabilities | $9.263M | $7.672M | $7.672M |
YoY Change | 1.23% | 8.06% | 8.06% |
SHAREHOLDERS EQUITY | |||
Retained Earnings | -$10.20M | -$7.131M | |
YoY Change | 143.36% | ||
Common Stock | $14.35K | $10.20K | |
YoY Change | 1019900.0% | ||
Preferred Stock | |||
YoY Change | |||
Treasury Stock (at cost) | |||
YoY Change | |||
Treasury Stock Shares | |||
Shareholders Equity | $2.550M | $1.888M | $1.888M |
YoY Change | |||
Total Liabilities & Shareholders Equity | $11.81M | $9.560M | $9.560M |
YoY Change | 3.89% | 3.14% | 3.13% |
Cashflow Statement
Concept | 2024 Q1 | 2023 Q4 | 2023 |
---|---|---|---|
OPERATING ACTIVITIES | |||
Net Income | -$3.068M | -$1.585M | -$4.201M |
YoY Change | 240.85% | 65.06% | 72.15% |
Depreciation, Depletion And Amortization | $161.00 | $160.00 | $236.00 |
YoY Change | |||
Cash From Operating Activities | -$724.5K | $4.710K | -$4.571M |
YoY Change | -21.25% | -100.61% | 97.01% |
INVESTING ACTIVITIES | |||
Capital Expenditures | $32.00K | $0.00 | $3.805K |
YoY Change | -99.68% | ||
Acquisitions | |||
YoY Change | |||
Other Investing Activities | -$25.07K | $0.00 | -$52.27K |
YoY Change | -16.43% | -75.11% | |
Cash From Investing Activities | -$57.07K | $0.00 | -$59.61K |
YoY Change | 42.67% | -95.74% | |
FINANCING ACTIVITIES | |||
Cash Dividend Paid | |||
YoY Change | |||
Common Stock Issuance & Retirement, Net | |||
YoY Change | |||
Debt Paid & Issued, Net | |||
YoY Change | |||
Cash From Financing Activities | $855.9K | -34.83K | $4.633M |
YoY Change | -62.79% | -104.52% | 24.87% |
NET CHANGE | |||
Cash From Operating Activities | -$724.5K | 4.710K | -$4.571M |
Cash From Investing Activities | -$57.07K | 0.000 | -$59.61K |
Cash From Financing Activities | $855.9K | -34.83K | $4.633M |
Net Change In Cash | $74.30K | -30.12K | $2.516K |
YoY Change | -94.46% | -12936441495552160.0% | -125.16% |
FREE CASH FLOW | |||
Cash From Operating Activities | -$724.5K | $4.710K | -$4.571M |
Capital Expenditures | $32.00K | $0.00 | $3.805K |
Free Cash Flow | -$756.5K | $4.710K | -$4.574M |
YoY Change | -17.77% | -100.61% | 30.33% |
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CY2023 | us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-59609 | usd |
CY2022 | us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-1397022 | usd |
CY2023 | us-gaap |
Proceeds From Short Term Debt
ProceedsFromShortTermDebt
|
6173344 | usd |
CY2022 | us-gaap |
Proceeds From Short Term Debt
ProceedsFromShortTermDebt
|
648300 | usd |
CY2023 | us-gaap |
Repayments Of Short Term Debt
RepaymentsOfShortTermDebt
|
2500000 | usd |
CY2023 | us-gaap |
Proceeds From Contributions From Parent
ProceedsFromContributionsFromParent
|
959384 | usd |
CY2022 | us-gaap |
Proceeds From Contributions From Parent
ProceedsFromContributionsFromParent
|
3065612 | usd |
CY2023 | us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
4632728 | usd |
CY2022 | us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
3713912 | usd |
CY2023 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
|
2516 | usd |
CY2022 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
|
720 | usd |
CY2022Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
720 | usd |
CY2023Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
3236 | usd |
CY2022Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
720 | usd |
CY2023 | us-gaap |
Notes Issued1
NotesIssued1
|
675000 | usd |
CY2023 | sgbx |
Forgiveness Of Due From Affiliate
ForgivenessOfDueFromAffiliate
|
2279156 | usd |
CY2022 | sgbx |
Transfer Of Land To Assets Held For Sale
TransferOfLandToAssetsHeldForSale
|
3576130 | usd |
CY2023 | us-gaap |
Nature Of Operations
NatureOfOperations
|
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>1.</b></span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Description of Business</b></span></td> </tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.3in; text-align: justify; text-indent: -0.3in"><span style="font-family: Times New Roman, Times, Serif"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">Safe and Green Development Corporation (the “Company” or “SG DevCo”)), previously known as SGB Development Corp., a Delaware corporation was incorporated on February 17, 2021. The Company was formed for the purpose of real property development primarily in the acquisition, development, management, sale and leasing of green single or multi-family projects in underserved regions nationally. The Company has a minority interest in Norman Berry II Owners LLC and JDI-Cumberland Inlet LLC as described further below.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 16.2pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 16.2pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif"><span style="text-decoration:underline">Going Concern</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 16.2pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif"> </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">The Company began operations during 2021 and has incurred net losses during since inception and has a net capital deficiency, which raises substantial doubt about its ability to continue as a going concern Prior to becoming a public company, the Company’s operations had primarily been funded through advances from Safe & Green Holdings Corp., the Company’s then parent company (“Parent”) and the Company had been largely dependent upon Parent for funding. The Company has recently funded its operations through a bridge note financing, project level financing, and the issuance of its equity and debt securities. The Company has also initiated strategic monetization of properties, which may yield additional financing proceeds to fund operations. Management believes that these actions will enable the Company to continue as a going concern.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif"><span style="text-decoration:underline">Separation and Distribution</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 16.2pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">In December 2022, Parent and then owner of 100% of our issued and outstanding securities, announced its plan to separate the Company and Parent into two separate publicly traded companies (the “Separation”). To implement the Separation, on September 27, 2023 (the “Distribution Date”), Parent, effected a pro rata distribution to Parent’s stockholders of approximately 30% of the outstanding shares of the Company’s common stock (the “Distribution”). In connection with the Distribution, each Parent stockholder received 0.930886 shares of the Company’s common stock for every five (5) shares of Parent common stock held as of the close of business on September 8, 2023, the record date for the Distribution, as well as a cash payment in lieu of any fractional shares. Immediately after the Distribution, the Company was no longer a wholly owned subsidiary of Parent and Parent held approximately 70% of the Company’s issued and outstanding securities. On September 28, 2023, the Company’s common stock began trading on the Nasdaq Capital Market under the symbol “SGD.”</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 16.2pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">In connection with the Separation and Distribution, the Company entered into a separation and distribution agreement and several other agreements with Parent. These agreements provide for the allocation between Parent and the Company of the assets, employees, liabilities and obligations (including, among others, investments, property, employee benefits and tax-related assets and liabilities) of Parent and its subsidiaries attributable to periods prior to, at and after the Separation and will govern the relationship between the Company and Parent subsequent to the completion of the Separation. In addition to the separation and distribution agreement, the other principal agreements entered into with Parent included a tax matters agreement and a shared services agreement. </span></p> | |
CY2023Q3 | sgbx |
Parent Stockholder Received
ParentStockholderReceived
|
0.930886 | |
CY2023Q3 | us-gaap |
Common Stock Shares Held In Employee Trust Shares
CommonStockSharesHeldInEmployeeTrustShares
|
5 | shares |
CY2023 | us-gaap |
Use Of Estimates
UseOfEstimates
|
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif"><b><i>Accounting estimates </i></b>— The preparation of financial statements in conformity with GAAP requires management to make estimates 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 expenses during the reporting period. Actual results could differ from those estimates.</span></p> | |
CY2021Q2 | us-gaap |
Payments To Acquire Businesses And Interest In Affiliates
PaymentsToAcquireBusinessesAndInterestInAffiliates
|
600000 | usd |
CY2021Q2 | us-gaap |
Payments To Acquire Businesses And Interest In Affiliates
PaymentsToAcquireBusinessesAndInterestInAffiliates
|
600000 | usd |
CY2021Q3 | us-gaap |
Payments To Acquire Businesses And Interest In Affiliates
PaymentsToAcquireBusinessesAndInterestInAffiliates
|
600000 | usd |
CY2021Q4 | us-gaap |
Payments To Acquire Businesses And Interest In Affiliates
PaymentsToAcquireBusinessesAndInterestInAffiliates
|
135183 | usd |
CY2023 | us-gaap |
Payments To Acquire Other Property Plant And Equipment
PaymentsToAcquireOtherPropertyPlantAndEquipment
|
3850 | usd |
CY2023 | us-gaap |
Depreciation
Depreciation
|
236 | usd |
CY2023 | us-gaap |
Property Plant And Equipment Preproduction Design And Development Costs
PropertyPlantAndEquipmentPreproductionDesignAndDevelopmentCosts
|
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif"><b><i>Project Development Costs </i></b>— Project development costs are stated at cost. At December 31, 2022, the Company’s project development costs are expenses incurred related to development costs on various projects that are capitalized during the period the project is under development. </span></p> | |
CY2023Q4 | us-gaap |
Assets Held In Trust Noncurrent
AssetsHeldInTrustNoncurrent
|
4400361 | usd |
CY2023 | us-gaap |
Contribution Of Property
ContributionOfProperty
|
11500000 | usd |
CY2023 | us-gaap |
Property Management Fee Percent Fee
PropertyManagementFeePercentFee
|
0.05 | pure |
CY2023Q4 | us-gaap |
Property Plant And Equipment Salvage Value
PropertyPlantAndEquipmentSalvageValue
|
11500000 | usd |
CY2023 | us-gaap |
Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
|
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif"><b><i>Concentrations of credit risk </i></b>— 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 significant credit risk on the account.</span></p> | |
CY2021Q3 | us-gaap |
Debt Instrument Issued Principal
DebtInstrumentIssuedPrincipal
|
2000000 | usd |
CY2021Q3 | sgbx |
Proceeds From Net Loan Proceeds
ProceedsFromNetLoanProceeds
|
1945234 | usd |
CY2022 | us-gaap |
Interest Costs Capitalized
InterestCostsCapitalized
|
20000 | usd |
CY2022Q4 | us-gaap |
Deferred Finance Costs Net
DeferredFinanceCostsNet
|
4134 | usd |
CY2022Q3 | us-gaap |
Notes Payable
NotesPayable
|
148300 | usd |
CY2023 | sgbx |
Debt Instrument Due Date
DebtInstrumentDueDate
|
2024-04-01 | |
CY2023Q4 | us-gaap |
Short Term Debt Percentage Bearing Variable Interest Rate
ShortTermDebtPercentageBearingVariableInterestRate
|
0.135 | pure |
CY2023 | sgbx |
Short Term Debt Percentage Bearing Floor Interest Rate
ShortTermDebtPercentageBearingFloorInterestRate
|
0.135 | pure |
CY2023Q4 | us-gaap |
Prepaid Interest
PrepaidInterest
|
675000 | usd |
CY2023Q4 | us-gaap |
Unamortized Debt Issuance Expense
UnamortizedDebtIssuanceExpense
|
101706 | usd |
CY2023 | sgbx |
Percentage Of Secured Loan
PercentageOfSecuredLoan
|
1999999 | shares |
CY2023Q2 | us-gaap |
Debt Instrument Issued Principal
DebtInstrumentIssuedPrincipal
|
1250000 | usd |
CY2023 | us-gaap |
Legal Fees
LegalFees
|
17500 | usd |
CY2023 | sgbx |
Receive Cash Proceeds
ReceiveCashProceeds
|
1500000 | usd |
CY2023 | sgbx |
Percentage Of Cash Proceeds Received
PercentageOfCashProceedsReceived
|
0.50 | pure |
CY2023 | sgbx |
Percentage Of Outstanding Principal Amount
PercentageOfOutstandingPrincipalAmount
|
1.10 | pure |
CY2023Q4 | us-gaap |
Deferred Finance Costs Net
DeferredFinanceCostsNet
|
75393 | usd |
CY2023 | us-gaap |
Adjustment Of Warrants Granted For Services
AdjustmentOfWarrantsGrantedForServices
|
294438 | usd |
CY2023 | us-gaap |
Debt Related Commitment Fees And Debt Issuance Costs
DebtRelatedCommitmentFeesAndDebtIssuanceCosts
|
195000 | usd |
CY2023Q3 | sgbx |
Parent Stockholder Received
ParentStockholderReceived
|
0.930886 | |
CY2023Q4 | sgbx |
Maximum Commitment Amount Under Equity Purchase Agreement
MaximumCommitmentAmountUnderEquityPurchaseAgreement
|
10000000 | usd |
CY2023Q4 | sgbx |
Amount Of Put Notice Under Equity Purchase Agreement
AmountOfPutNoticeUnderEquityPurchaseAgreement
|
750000 | usd |
CY2023Q4 | sgbx |
Percentage Of Average Daily Trading Value
PercentageOfAverageDailyTradingValue
|
2 | pure |
CY2023 | us-gaap |
Restricted Stock Shares Issued Net Of Shares For Tax Withholdings
RestrictedStockSharesIssuedNetOfSharesForTaxWithholdings
|
100000 | shares |
CY2023Q4 | us-gaap |
Class Of Warrant Or Right Number Of Securities Called By Warrants Or Rights
ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights
|
350000 | shares |
CY2023 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
|
0.0448 | pure |
CY2023 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
|
P5Y | |
CY2023 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
|
0 | pure |
CY2023 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
|
1.03 | pure |
CY2023Q1 | us-gaap |
Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
|
4000000 | shares |
CY2022 | us-gaap |
Costs Incurred Development Costs
CostsIncurredDevelopmentCosts
|
207523 | usd |
CY2023Q3 | us-gaap |
Debt Instrument Face Amount
DebtInstrumentFaceAmount
|
4200000 | usd |
CY2023Q4 | us-gaap |
Other Additional Capital
OtherAdditionalCapital
|
1720844 | usd |
CY2023 | us-gaap |
Payments For Fees
PaymentsForFees
|
180000 | usd |
CY2023 | sgbx |
Percentage Of Anticipated Profit
PercentageOfAnticipatedProfit
|
0.15 | pure |
CY2023 | sgbx |
Description Of Master Purchase Agreement
DescriptionOfMasterPurchaseAgreement
|
The Master Purchase Agreement provides that SG Echo will be paid a fee equal to 12% of the agreed cost of each project. The Master Purchase Agreement further provides that payment terms for all design work and the completion of the pre-fabricated container and module shall be made in accordance with the following schedule: (a) a deposit equal to 40% of the cost of the pre- fabricated container and module only shall be paid by us to SG Echo within 5 business days of the mutual execution of a project order; (b) a progress payment (not to exceed to 35% of the cost of the pre-fabricated container and module) shall be paid by us to SG Echo monthly in proportion to the percentage of Work completed, which payment shall be made within 10 business days of the Company receipt of SG Echo’s invoice; (c) a progress payment equal to 15% of the cost of the pre-fabricated container and module shall be paid by us to SG Echo within 10 business days of the delivery of the pre-fabricated container and module to the specific project site; and (d) the final payment equal to 10% of the cost of the pre-fabricated container and module only shall be paid by us to SG Echo within 10 business days of the substantial completion of the Work. Substantial completion of the Work shall be as defined by the applicable project order | |
CY2023 | sgbx |
Payment Of Sg Echo
PaymentOfSGEcho
|
0.10 | pure |
CY2023Q4 | us-gaap |
Accounts Payable And Accrued Liabilities Current And Noncurrent
AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent
|
145000 | usd |
CY2023 | us-gaap |
Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
|
-332456 | usd |
CY2022 | us-gaap |
Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
|
-513294 | usd |
CY2023 | us-gaap |
Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
|
-22820 | usd |
CY2022 | us-gaap |
Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
|
-35234 | usd |
CY2023 | us-gaap |
Deferred Federal State And Local Tax Expense Benefit
DeferredFederalStateAndLocalTaxExpenseBenefit
|
-355276 | usd |
CY2022 | us-gaap |
Deferred Federal State And Local Tax Expense Benefit
DeferredFederalStateAndLocalTaxExpenseBenefit
|
-548528 | usd |
CY2023 | us-gaap |
Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
|
-355276 | usd |
CY2022 | us-gaap |
Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
|
-548528 | usd |
CY2023 | us-gaap |
Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
|
-355276 | usd |
CY2022 | us-gaap |
Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
|
-548528 | usd |
CY2023 | us-gaap |
Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
|
0 | pure |
CY2022 | us-gaap |
Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
|
0 | pure |
CY2023 | us-gaap |
Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
|
0.21 | pure |
CY2023 | us-gaap |
Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
|
0.014 | pure |
CY2023 | us-gaap |
Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
|
-0.224 | pure |
CY2023 | us-gaap |
Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
|
0 | pure |
CY2023Q4 | us-gaap |
Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
|
355276 | usd |
CY2022Q4 | us-gaap |
Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
|
439519 | usd |
CY2023Q4 | us-gaap |
Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
|
355276 | usd |
CY2022Q4 | us-gaap |
Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
|
439519 | usd |
CY2023Q4 | us-gaap |
Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
|
355276 | usd |
CY2022Q4 | us-gaap |
Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
|
439519 | usd |
CY2023Q4 | us-gaap |
Operating Loss Carryforwards
OperatingLossCarryforwards
|
1500000 | usd |
CY2023Q4 | sgbx |
Future Taxable Income Percentage
FutureTaxableIncomePercentage
|
0.80 | pure |
CY2023 | us-gaap |
Effective Income Tax Rate Reconciliation Tax Settlements
EffectiveIncomeTaxRateReconciliationTaxSettlements
|
0.50 | pure |
CY2022Q4 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
usd | |
CY2022Q4 | us-gaap |
Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
|
usd | |
CY2023Q4 | us-gaap |
Commitments And Contingencies
CommitmentsAndContingencies
|
usd | |
CY2023 | us-gaap |
Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
|
usd | |
CY2022 | us-gaap |
Depreciation
Depreciation
|
usd | |
CY2022 | us-gaap |
Issuance Of Stock And Warrants For Services Or Claims
IssuanceOfStockAndWarrantsForServicesOrClaims
|
usd | |
CY2022 | us-gaap |
Increase Decrease In Intangible Assets Current
IncreaseDecreaseInIntangibleAssetsCurrent
|
usd | |
CY2022 | us-gaap |
Increase Decrease In Due To Affiliates
IncreaseDecreaseInDueToAffiliates
|
usd | |
CY2022 | us-gaap |
Payments To Acquire Other Productive Assets
PaymentsToAcquireOtherProductiveAssets
|
usd | |
CY2022 | us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
usd | |
CY2023 | us-gaap |
Payments To Acquire Land Held For Use
PaymentsToAcquireLandHeldForUse
|
usd | |
CY2022 | us-gaap |
Payments To Acquire Investments
PaymentsToAcquireInvestments
|
usd | |
CY2022 | us-gaap |
Repayments Of Short Term Debt
RepaymentsOfShortTermDebt
|
usd | |
CY2021Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
usd | |
CY2022 | us-gaap |
Notes Issued1
NotesIssued1
|
usd | |
CY2022 | sgbx |
Forgiveness Of Due From Affiliate
ForgivenessOfDueFromAffiliate
|
usd | |
CY2023 | sgbx |
Transfer Of Land To Assets Held For Sale
TransferOfLandToAssetsHeldForSale
|
usd | |
CY2023 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
usd | |
CY2022 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
usd | |
CY2023Q4 | us-gaap |
Deferred Tax Assets Net
DeferredTaxAssetsNet
|
usd | |
CY2022Q4 | us-gaap |
Deferred Tax Assets Net
DeferredTaxAssetsNet
|
usd | |
CY2023 | dei |
Amendment Flag
AmendmentFlag
|
false | |
CY2023 | dei |
Document Fiscal Period Focus
DocumentFiscalPeriodFocus
|
FY | |
CY2023 | dei |
Entity Central Index Key
EntityCentralIndexKey
|
0001959023 |