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Safe and Green Development Corporation (NASDAQ:SGD) ("SGD" or the "Company"), a real estate development and innovation company, releases a letter to shareholders from CEO David Villarreal:
Dear SGD Shareholders,
We wanted to take a moment to address the recent trading activity surrounding our stock and reassure our shareholders that there have been no changes to our current operating plans or strategic objectives.
While we are aware of fluctuations in trading volume and stock price, we want to make it clear that there have been no adverse developments internally or externally that have impacted the Company's operational trajectory or its ongoing acquisition of Resource Group US Holdings LLC ("Resource Group"). This transaction remains on track, subject only to customary closing conditions and the completion of Resource Group's audit.
As highlighted in our March shareholder letter, Resource Group has demonstrated significant growth, with unaudited revenues increasing from $16 million in 2023 to $19.1 million in 2024. Upon completion of the acquisition, we anticipate pro forma revenues of approximately $25 million in 2025. We remain confident that this acquisition will fundamentally enhance SGD's financial profile, expand our market footprint, and diversify our revenue base.
Importantly, our core mission has not changed. We continue to focus on unlocking the value of our real estate development pipeline and proprietary technology platforms, while complementing these efforts with strategic acquisitions that generate near-term cash flow and long-term shareholder value. We firmly believe that the current market capitalization does not reflect the intrinsic value of the Company, particularly in light of the strategic direction we have undertaken and the revenue trajectory associated with the Resource Group transaction.
The management team remains focused on executing our business plan and delivering tangible results for our shareholders. We appreciate your continued support and confidence as we advance toward closing this transformative acquisition and continue building a stronger future for SGD.
Sincerely,
David Villarreal
President & CEO
Posted In: SGD
