Latest news with #MichaelMcLaren
Globe and Mail
5 days ago
- Business
- Globe and Mail
Safe and Green Holdings Corp. Engages ShareIntel to Investigate Unusual Trading Activity
MIAMI, FL, June 10, 2025 (GLOBE NEWSWIRE) -- Safe & Green Holdings Corp. (NASDAQ: SGBX) ("Safe & Green Holdings" or the "Company"), a leading developer, designer, and fabricator of modular structures diversified platform transforming critical infrastructure through sustainable modular innovation, announces it has engaged Shareholder Intelligence Services, LLC ('ShareIntel') to support efforts to investigate and address potentially illegal trading activity. This includes suspected naked short selling and market manipulation involving the Company's common stock. The decision to engage ShareIntel follows an internal review of trading patterns that raised concerns regarding potential violations of securities laws. Using ShareIntel's proprietary DRIL-Down™ analytics, Safe and Green expects to gain deeper insight into shareholder trading activity and take appropriate steps to protect the interests of its investors. 'We are committed to safeguarding the integrity of our stock and acting decisively in the interest of our shareholders,' said Michael McLaren, CEO of Safe and Green Holdings Corp. 'By leveraging ShareIntel's analytics platform, we will be better positioned to identify irregularities and pursue corrective measures where necessary.' As part of this initiative, the Company is also evaluating further legal and regulatory actions, including potential participation in the SEC Whistleblower Program and collaboration with other affected public companies. About ShareIntel, LLC ShareIntel is an application service provider retained by public companies to obtain, aggregate, track and analyze shareholder trading information. ShareIntel will utilize its patented process called DRIL-Down™ to aggregate and analyze repository data from reporting entities, broker-dealers and shareholders, enabling Safe and Green Holdings to proactively track shareholder ownership, identify parties to suspicious, aberrant or unusual trading activity and deploy corrective action steps to help curtail such an illegal activity. About Safe and Green Holdings Safe & Green Holdings Corp., a leading modular solutions company, operates under core capabilities which include the development, design, and fabrication of modular structures, meeting the demand for safe and green solutions across various industries. The firm supports third-party and in-house developers, architects, builders, and owners in achieving faster execution, greener construction, and buildings of higher value. For more information, visit and follow us at @SGHcorp on Twitter. Safe Harbor Statement Certain statements in this press release constitute "forward-looking statements" within the meaning of the federal securities laws. Words such as "may," "might," "will," "should," "believe," "expect," "anticipate," "estimate," "continue," "predict," "forecast," "project," "plan," "intend" or similar expressions, or statements regarding intent, belief, or current expectations, are forward-looking statements. These forward-looking statements are based upon current estimates and assumptions and include statements regarding the hiring of Shareholder Intelligence Services, LLC. While the Company believes these forward-looking statements are reasonable, undue reliance should not be placed on any such forward-looking statements, which are based on information available to us on the date of this release. These forward-looking statements are subject to various risks and uncertainties, many of which are difficult to predict that could cause actual results to differ materially from current expectations and assumptions from those set forth or implied by any forward-looking statements. Important factors that could cause actual results to differ materially from current expectations include, among others, the Company's ability to maintain compliance with the NASDAQ listing requirements, and the other factors discussed in the Company's Annual Report on Form 10-K for the year ended December 31, 2024 and its subsequent filings with the SEC, including subsequent periodic reports on Forms 10-Q and 8-K. The information in this release is provided only as of the date of this release, and we undertake no obligation to update any forward-looking statements contained in this release on account of new information, future events, or otherwise, except as required by law. For investor and media inquiries, please contact: CORE IR 516 222 2560 investors@
Yahoo
14-05-2025
- Business
- Yahoo
Safe & Green Holdings Corp. Provides Corporate Update
MIAMI, FL, May 14, 2025 (GLOBE NEWSWIRE) -- Safe & Green Holdings Corp. (NASDAQ: SGBX) ("Safe & Green Holdings" or the "Company"), a leading developer, designer, and fabricator of modular structures, today provides an update on its recent transformation, marking a new era of financial strength, operational momentum, and strategic expansion. Backed by $108 million in committed funding, and generating strong market engagement, the Company provides a review of key achievements while embarking on an aggressive buy-and-build strategy aimed at positioning itself for success in both domestic and international markets. Michael McLaren, Safe and Green Chairman and CEO, commented, "In January 2025, we took on the challenge to rebuild Safe and Green into a world-class, professional, and dynamic enterprise. Today, we believe that vision to be reality. With $108 million in funding and aggressive growth plans, the exciting part of rebuilding this Company starts now. We are generating revenue, expanding fast and leading from the front in both US energy and sustainable building products and technologies. Our focus remains on creating shareholder value and we look forward to providing continued updates on our progress." Key Achievements: $100 Million ELOC Securities Purchase Agreement– Fully accessible upon shareholder approval and S-1 effectiveness, supporting acquisitions and technology scale-up. $8 Million Private Placement with D. Boral Capital acting as sole placement agent. Addition of seasoned C-suite executives, appointment of Michael McLaren as the new Chairman of the Board of Directors, and the formation of an executive committee to streamline acquisition due diligence and execution. The Company has implemented significant structural changes, distancing the Company from legacy issues. Merger with New Asia Holdings, Inc. including its subsidiaries Olenox and Machfu via a sign and close transaction, accelerating growth into new business channels. Regaining compliance with the minimum equity standard set forth in Nasdaq Listing Rule 5550(b)(1) to ensure continued listing on The Nasdaq Capital Market. Purchase of County Line Industrial, LLC, a Durant, Oklahoma business providing welding services in Oklahoma and Texas. The acquisition enhances the Company's access to customers in its ready-mix cement and oil and gas businesses. Purchase of majority interest in Winchester Oil and Gas, LLC, which operates more than 500 wells in Texas with leases centered in Milam and Parker counties. It recently reported production of approximately 50 barrels a day, with peak production reaching 200 barrels in the last four years. Aggressive Buy-and-Build Strategy The Company's new leadership team continues to evaluate high-value partnerships and acquisitions across US energy production, sustainable technologies and modular construction solutions, aligned with its 12-month roadmap. Additionally, under this aggressive buy-and-build strategy, the Company has a robust pipeline of strategic acquisitions designed to augment and expand the Company's business operations. These strategic moves will be supported by the $108 million funding facilities from and the ELOC Securities Purchase Agreement. About Olenox Corp. Olenox Corp. is an advanced energy company focused on oil and gas production, energy services, and energy technologies. Olenox specializes in acquiring and revitalizing distressed energy assets, leveraging proprietary technologies to enhance production while minimizing environmental impact. About Safe & Green Holdings Corp. Safe & Green Holdings Corp., a leading modular solutions company, operates under core capabilities which include the development, design, and fabrication of modular structures, meeting the demand for safe and green solutions across various industries. The firm supports third-party and in-house developers, architects, builders, and owners in achieving faster execution, greener construction, and buildings of higher value. For more information, visit and follow us at @SGHcorp on Twitter. Safe Harbor Statement Certain statements in this press release constitute "forward-looking statements" within the meaning of the federal securities laws. Words such as "may," "might," "will," "should," "believe," "expect," "anticipate," "estimate," "continue," "predict," "forecast," "project," "plan," "intend" or similar expressions, or statements regarding intent, belief, or current expectations, are forward-looking statements. These forward-looking statements are based upon current estimates and assumptions and include statements regarding the Company's ELOC Securities Purchase Agreement, the Company's private placement for the purchase of approximately $8 million of shares of the Company's common stock and investor warrants, the Company's merger agreement with New Asia Holdings, Inc., the Company's purchase of County Line Industrial, LLC, and the Company's purchase of a majority interest in Winchester Oil & Gas, LLC . While the Company believes these forward-looking statements are reasonable, undue reliance should not be placed on any such forward-looking statements, which are based on information available to us on the date of this release. These forward-looking statements are subject to various risks and uncertainties, many of which are difficult to predict that could cause actual results to differ materially from current expectations and assumptions from those set forth or implied by any forward-looking statements. Important factors that could cause actual results to differ materially from current expectations include, among others, the Company's ability to successfully register the ELOC Securities Purchase Agreement shares via a Form S-1 filing, the Company's ability to successfully leverage its facilities to support its merger with New Asia Holdings, Inc., the Company's ability to successfully integrate County Line's business into the Company's operations, the Company's ability to successfully operate the Winchester Oil & Gas wells, the effect of government regulation, the Company's ability to maintain compliance with the NASDAQ listing requirements, and the other factors discussed in the Company's Annual Report on Form 10-K for the year ended December 31, 2024 and its subsequent filings with the SEC, including subsequent periodic reports on Forms 10-Q and 8-K. The information in this release is provided only as of the date of this release, and we undertake no obligation to update any forward-looking statements contained in this release on account of new information, future events, or otherwise, except as required by law. Investor Relations: CORE IR516 222 2560investors@
Yahoo
08-04-2025
- Business
- Yahoo
Safe & Green Holdings Corp. Announces 51% Purchase of Winchester Oil and Gas by Wholly Owned Subsidiary Olenox Corp.
MIAMI, April 08, 2025 (GLOBE NEWSWIRE) -- Safe & Green Holdings Corp. (NASDAQ: SGBX) ("Safe & Green Holdings" or the "Company"), a leading developer, designer, and fabricator of modular structures, announces its wholly owned subsidiary, Olenox Corp. ('Olenox'), has purchased a 51% stake in Winchester Oil and Gas, LLC ('Winchester'). Winchester operates more than 500 wells in Texas with leases centered in Milam and Parker counties. It recently reported production of approximately 50 barrels a day, with peak production reaching 200 barrels in the last four years. It also holds a $250,000 bond, which allows Olenox unlimited well licenses in Texas, which is ideal for expansion while also utilizes cleanup of underperforming properties. Through Olenox, the Company will operate the existing wells and perform reactivation, for which it expects 30-40% to be complete and creating production in the second quarter of 2025. Michael McLaren, Safe & Green Holdings CEO commented, 'The Winchester acquisition is a prime example of the capability of our subsidiary Olenox to create turnaround utilizing its patented down hole cleaning and stimulation technologies combined with state-of-the-art combo service rigs that reduce the amount of equipment and fuel, resulting in lower servicing costs per well. We believe this investment is an important addition to our holdings and look forward to providing production updates as they develop. 'Further, our Machfu technology allows us to reduce downtime, operator and energy costs with its integrated bidirectional well monitoring systems. Reduced costs mean reduced lifting costs per barrel and in volatile markets allows Olenox to remain profitable even at historically low pricing per barrel,' Mr. McLaren concluded. About Olenox Corp. Olenox Corp. is an advanced energy company focused on oil and gas production, energy services, and energy technologies. Olenox specializes in acquiring and revitalizing distressed energy assets, leveraging proprietary technologies to enhance production while minimizing environmental impact. About Safe & Green Holdings Corp. Safe & Green Holdings Corp., a leading modular solutions company, operates under core capabilities which include the development, design, and fabrication of modular structures, meeting the demand for safe and green solutions across various industries. The firm supports third-party and in-house developers, architects, builders, and owners in achieving faster execution, greener construction, and buildings of higher value. For more information, visit and follow us at @SGHcorp on Twitter. Safe Harbor Statement Certain statements in this press release constitute "forward-looking statements" within the meaning of the federal securities laws. Words such as "may," "might," "will," "should," "believe," "expect," "anticipate," "estimate," "continue," "predict," "forecast," "project," "plan," "intend" or similar expressions, or statements regarding intent, belief, or current expectations, are forward-looking statements. These forward-looking statements are based upon current estimates and assumptions. These forward-looking statements are subject to various risks and uncertainties, many of which are difficult to predict that could cause actual results to differ materially from current expectations and assumptions from those set forth or implied by any forward-looking statements. Important factors that could cause actual results to differ materially from current expectations include, among others, the Company's ability to successfully integrate Winchester into Olenox's pipeline, the Company's ability to successfully reactivate Winchester's oil wells to increase production, the effect of government regulation, the Company's ability to maintain compliance with the NASDAQ listing requirements, and the other factors discussed in the Company's Annual Report on Form 10-K for the year ended December 31, 2024 and its subsequent filings with the SEC, including subsequent periodic reports on Forms 10-Q and 8-K. The information in this release is provided only as of the date of this release, and we undertake no obligation to update any forward-looking statements contained in this release on account of new information, future events, or otherwise, except as required by law. Investor Relations:CORE IR516 222 2560investors@ Source: Safe & Green Holdings in to access your portfolio
Associated Press
08-04-2025
- Business
- Associated Press
Safe & Green Holdings Corp. Announces 51% Purchase of Winchester Oil and Gas by Wholly Owned Subsidiary Olenox Corp.
MIAMI, April 08, 2025 (GLOBE NEWSWIRE) -- Safe & Green Holdings Corp. (NASDAQ: SGBX) ('Safe & Green Holdings' or the 'Company'), a leading developer, designer, and fabricator of modular structures, announces its wholly owned subsidiary, Olenox Corp. ('Olenox'), has purchased a 51% stake in Winchester Oil and Gas, LLC ('Winchester'). Winchester operates more than 500 wells in Texas with leases centered in Milam and Parker counties. It recently reported production of approximately 50 barrels a day, with peak production reaching 200 barrels in the last four years. It also holds a $250,000 bond, which allows Olenox unlimited well licenses in Texas, which is ideal for expansion while also utilizes cleanup of underperforming properties. Through Olenox, the Company will operate the existing wells and perform reactivation, for which it expects 30-40% to be complete and creating production in the second quarter of 2025. Michael McLaren, Safe & Green Holdings CEO commented, 'The Winchester acquisition is a prime example of the capability of our subsidiary Olenox to create turnaround utilizing its patented down hole cleaning and stimulation technologies combined with state-of-the-art combo service rigs that reduce the amount of equipment and fuel, resulting in lower servicing costs per well. We believe this investment is an important addition to our holdings and look forward to providing production updates as they develop. 'Further, our Machfu technology allows us to reduce downtime, operator and energy costs with its integrated bidirectional well monitoring systems. Reduced costs mean reduced lifting costs per barrel and in volatile markets allows Olenox to remain profitable even at historically low pricing per barrel,' Mr. McLaren concluded. About Olenox Corp. Olenox Corp. is an advanced energy company focused on oil and gas production, energy services, and energy technologies. Olenox specializes in acquiring and revitalizing distressed energy assets, leveraging proprietary technologies to enhance production while minimizing environmental impact. About Safe & Green Holdings Corp. Safe & Green Holdings Corp., a leading modular solutions company, operates under core capabilities which include the development, design, and fabrication of modular structures, meeting the demand for safe and green solutions across various industries. The firm supports third-party and in-house developers, architects, builders, and owners in achieving faster execution, greener construction, and buildings of higher value. For more information, visit and follow us at @SGHcorp on Twitter. Safe Harbor Statement Certain statements in this press release constitute 'forward-looking statements' within the meaning of the federal securities laws. Words such as 'may,' 'might,' 'will,' 'should,' 'believe,' 'expect,' 'anticipate,' 'estimate,' 'continue,' 'predict,' 'forecast,' 'project,' 'plan,' 'intend' or similar expressions, or statements regarding intent, belief, or current expectations, are forward-looking statements. These forward-looking statements are based upon current estimates and assumptions. These forward-looking statements are subject to various risks and uncertainties, many of which are difficult to predict that could cause actual results to differ materially from current expectations and assumptions from those set forth or implied by any forward-looking statements. Important factors that could cause actual results to differ materially from current expectations include, among others, the Company's ability to successfully integrate Winchester into Olenox's pipeline, the Company's ability to successfully reactivate Winchester's oil wells to increase production, the effect of government regulation, the Company's ability to maintain compliance with the NASDAQ listing requirements, and the other factors discussed in the Company's Annual Report on Form 10-K for the year ended December 31, 2024 and its subsequent filings with the SEC, including subsequent periodic reports on Forms 10-Q and 8-K. The information in this release is provided only as of the date of this release, and we undertake no obligation to update any forward-looking statements contained in this release on account of new information, future events, or otherwise, except as required by law. 516 222 2560
Yahoo
01-04-2025
- Business
- Yahoo
Safe & Green Holdings Reports Year-End 2024 Results
MIAMI, April 01, 2025 (GLOBE NEWSWIRE) -- Safe & Green Holdings Corp. (NASDAQ: SGBX) ("Safe & Green Holdings" or the "Company"), a leading developer, designer, and fabricator of modular structures, reports financial results for the year ended December 31, 2024 and provides a corporate update. Recent Highlights: Appointed Michael McLaren as Chief Executive Officer and Jim Pendergrast as Chief Operating Officer Entered into Definitive Agreement to merge with Olenox and Announced LOI to acquire County Line Industrial Successfully completed two major projects for U.S. Government contractor Secured two new contracts for Modular Construction Projects Announced decisive legal victory in litigation against EDI International and PVE, securing a judgment for nearly $1.3 million in damages with additional potential awards for interest, legal costs, and attorney's fees While 2024 was a challenging year for Safe & Green Holdings, we had several key events that we believe will be the foundation for the Company's future,' stated CEO Mike McLaren. 'First, we have a strong management team now in place, with Jim Pendergrast joining Tricia Kaelin and me as Chief Operating Officer. I believe with our combined experience we are now poised to propel the Company forward. Further, with our merger with Olenox and Machfu coming to our shareholder vote, I strongly believe we are stronger as a diversified company that integrates energy expertise, Industrial Internet of Things (IoT), and our already strong footprint in sustainable infrastructure. We believe this is the Company's future and look forward to continuing into 2025 with positive outcomes and future sustainable growth.' Financial Results for the Twelve Months Ended December 31, 2024 Revenue for the twelve months ended December 31, 2024, was $4.9 million, compared to$15.5 million for the twelve months ended December 31, 2023, primarily reflecting a decrease in construction services revenue. Gross profit (loss) for 2024 was ($244,077) compared to $(2.55) million for 2023. Operating expenses for 2024 were $9.4 million, compared to approximately $19.2 million for 2023. The net loss attributable to common shareholders was approximately ($22.6) million, or ($10.53) per share in 2024, compared to a net loss of ($26.2) million, or $(34.03) per share for 2023. The Company's Adjusted EBITDA (non-GAAP) for the year ended December 31, 2024, was approximately ($9.4) million as compared to Adjusted EBITDA of approximately ($20.8) million for the year ended December 31, 2023. Both EBITDA and Adjusted EBITDA are non- GAAP financial measures. The Company defines EBITDA as GAAP net income (loss) attributable to common stockholders before interest expense, income tax benefit (expense), depreciation and amortization. Adjusted EBITDA is defined as EBITDA before certain non- recurring, unusual or non-operational items, such as litigation expense, stock issuance expense and stock compensation expense. The Company believes that adjusting EBITDA to exclude the effects of these items that are not closely associated with ongoing corporate operations provides management and investors with a meaningful measure that increases period-to-period comparability of the Company's operating performance. The Company believes the presentation of EBITDA and Adjusted EBITDA is relevant and useful by enhancing the readers' ability to understand the Company's operating performance. The Company's management utilizes EBITDA and Adjusted EBITDA as a means to measure performance. The Company's measurements of EBITDA and Adjusted EBITDA may not be comparable to similar titled measurements reported by other companies. EBITDA and Adjusted EBITDA are not measurements of financial performance under GAAP and should not be considered as an alternative to net income (loss) attributable to common stockholders or as an indication of operating performance or any other measures of financial performance derived in accordance with GAAP. The Company does not consider these non-GAAP measures to be substitutes for or superior to the information provided by its GAAP financial results. The non- GAAP information should be read in conjunction with our consolidated financial statements and related notes. These measures also should not be construed as an inference that our future results will be unaffected by the non-recurring, unusual or non-operational items for which these non-GAAP measures make adjustments. The table below reconciles EBITDA and Adjusted EBITDA, both non-GAAP measures, to GAAP net gain (loss) attributable to common stockholders of Safe & Green Holdings Corp. For the Year EndedDecember 31, 2024 For the Year EndedDecember 31, 2023 Net loss attributable to common stockholders $ (22,601,278 ) $ (26,282,533 ) Addback interest expense 3,127,179 1,430,372 Addback interest income — (119 ) Addback depreciation and amortization 557,382 598,714 EBITDA (non-GAAP) (18,916,717 ) (24,253,566 ) Common stock deemed dividend 5,621,596 — Gain on deconsolidation – SG DevCorp (4,637,013 ) — Loss on disposition of equity-based investments 320,408 — Change in fair value of equity-based investments 6,616,201 — Addback litigation expense 356,046 154,217 Addback stock-based compensation expense 1,194,597 3,210,631 Adjusted EBITDA (non-GAAP) $ (9,444,882 ) $ (20,888,718 ) At December 31, 2024, and December 31, 2023, the Company had cash and cash equivalents of $375,873 and $14,212, respectively. As of December 31, 2024, stockholders' equity was ($12.4) million compared to $(6.3) million as of December 31, 2022. Additional details can be found in the Company's filing 10-K, which can be accessed on the United States Securities & Exchange Commission website at About Olenox Corp. Olenox is an advanced energy company focused on oil and gas production, energy services, and energy technologies. Olenox specializes in acquiring and revitalizing distressed energy assets, leveraging proprietary technologies to enhance production while minimizing environmental impact. About Machfu, Inc. Machfu delivers Industrial Internet of Things (IIoT) solutions, providing secure, scalable, and intelligent connectivity for industrial automation, energy, and smart infrastructure applications. About Safe & Green Holdings Corp. Safe & Green Holdings Corp., a leading modular solutions company, operates under core capabilities which include the development, design, and fabrication of modular structures, meeting the demand for safe and green solutions across various industries. The firm supports third-party and in-house developers, architects, builders, and owners in achieving faster execution, greener construction, and buildings of higher value. For more information, visit and follow us at @SGHcorp on Twitter. Safe Harbor Statement Certain statements in this press release constitute "forward-looking statements" within the meaning of the federal securities laws. Words such as "may," "might," "will," "should," "believe," "expect," "anticipate," "estimate," "continue," "predict," "forecast," "project," "plan," "intend" or similar expressions, or statements regarding intent, belief, or current expectations, are forward-looking statements. These forward-looking statements are based upon current estimates and assumptions. These forward-looking statements are subject to various risks and uncertainties, many of which are difficult to predict that could cause actual results to differ materially from current expectations and assumptions from those set forth or implied by any forward-looking statements. Important factors that could cause actual results to differ materially from current expectations include, among others, the Company's ability to successfully integrate Olenox and the Company's ability to collect on judgments against EDI International and PVE, the effect of government regulation, the Company's ability to maintain compliance with the NASDAQ listing requirements, and the other factors discussed in the Company's Annual Report on Form 10-K for the year ended December 31, 2024 and its subsequent filings with the SEC, including subsequent periodic reports on Forms 10-Q and 8-K. The information in this release is provided only as of the date of this release, and we undertake no obligation to update any forward-looking statements contained in this release on account of new information, future events, or otherwise, except as required by law. Investor Relations:CORE IR516 222 2560julesa@ Source: Safe & Green Holdings in to access your portfolio
