SG Blocks Inc. (SGBX) stock faced both positive and negative trend on Tuesday, March 16, 2021. It lost 6.11% in the normal trading session but gained 8.55% in the after-hours trading on Tuesday.
Earlier the company rescheduled the release of its financial results for the fourth fiscal quarter, which ended December 31, 2020, to after market close on March 25, 2021. The news took the stock 6.11% down on Tuesday.
The rescheduling is announced due to the Covid outbreak in the company’s finance department which made it impossible to complete the financial review and audit.
Subleasing COVID vaccination site to Cook Country
On March 1 2021, SGBX announced that It has completed a sub-lease for COVID-19 vaccinations with Cook County for the former K-Mart site in Des Plaines, Illinois, a suburb outside of Chicagovia its partnership with Chicago Airport Testing LLC
Chairman and CEO of SG Blocks Paul Galvin said that they are happy to supportCook County in stopping the spread of Covid by transitioning the space to a COVID-19 vaccination site.
Executing the First contract for the National Housing program
On February 26, 2021 SG Blocksannounced that has executed a contract to acquire and develop an approximately 7 acre site in Austin, Texas, through its wholly-owned subsidiary, SGB Development Corp.,the project will providea maximum of 225 condo units that will be sold at market rates.The net profit on the sale of the condo units is estimated to be more than $20 million.
Providing Repaid Covid Testing facilities
On February 8 2021 SGBX announced that it has started offering travellers rapid antigen testing at Los Angeles International Airport (LAX) for COVID-19 via Clarity Mobile Ventures.
About the company
SG Blocks, Inc. is a premier innovator, using code-engineered cargo shipping containers for safe and sustainable construction. The firm offers a product that exceeds many standard building code requirements, and also supports developers, architects, builders, and owners in achieving greener construction, faster execution, and stronger buildings of higher value.
