MIAMI, Feb. 13,
2025 /PRNewswire/ -- Safe and Green Development
Corporation (NASDAQ: SGD) (the "Company") announced today that it
believes that it has met the stockholders' equity requirement
under NASDAQ Listing Rule 5550(b) and has regained
compliance with NASDAQ's continued listing standards.
Nasdaq will continue to monitor the Company's ongoing compliance
with the stockholders' equity requirement and, if at the time of
its next periodic report the Company does not evidence compliance
it may be subject to delisting.
About Safe and Green Development Corporation (SG
Devco)
Safe and Green Development Corporation is a real estate
development company. Formed in 2021, it focuses primarily on the
direct acquisition and indirect investment in properties nationally
that will be further developed in the future into green single or
multi-family projects. Additionally, a wholly-owned subsidiary of
SG DevCo, Majestic World Holdings LLC, is a prop-tech company
that has created a real estate AI Platform the Company uses to
strategically increase the margins on homes sold by facilitating
mortgage services and down payment assistance. MyVONIA Innovations
LLC, a wholly owned subsidiary, is the owner of MyVONIA which is an
AI-powered personal assistant designed to help simplify daily tasks
and improve productivity for individuals and businesses.
Safe Harbor Statement
This press release may contain forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933 as amended
and Section 21E of the Securities Exchange Act of 1934 as amended.
All statements other than statements of historical fact are or may
be deemed to be forward-looking statements. In some cases
forward-looking statements can be identified by terminology such as
"may," "should," "potential," "continue," "expects," "anticipates,"
"intends," "plans," "believes," "estimates" and similar expressions
and include statements regarding regaining compliance with NASDAQ's
continued listing standards, using Majestic World Holdings LLC's
real estate AI Platform to strategically increase the margins on
homes sold by facilitating mortgage services and down payment
assistance and MyVONIA simplifying daily tasks and improve
productivity for individuals and businesses.
These forward-looking statements are based on certain
assumptions and analyses made by us in light of our experience and
our perception of historical trends, current conditions, and
expected future developments, as well as other factors we believe
are appropriate in the circumstances. Important factors that could
cause actual results to differ materially from current expectations
include, among others, the Company's ability to comply with NASDAQ
Listing Rule 5550(b) on an ongoing basis, the Company's ability to
use Majestic World Holdings LLC's real estate AI Platform to
strategically increase the margins on homes sold by facilitating
mortgage services and down payment assistance, MyVONIA's ability to
simplify daily tasks and improve productivity and other factors
discussed in the Company's Annual Report on Form 10-K for the year
ended December 31, 2023, and its
subsequent filings with the SEC. Readers are cautioned not to place
undue reliance on these forward-looking statements, which speak
only as of the date hereof. All forward-looking statements are
qualified in their entirety by this cautionary statement, and the
Company undertakes no obligation to revise or update this press
release to reflect events or circumstances after the date
hereof.
For investor relations and media inquiries, please
contact:
Barwicki Investor Relations
Andrew@Barwicki.com
516-662-9461
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SOURCE Safe and Green Development Corporation
