Q2 2023 Safe & Green Holdings Corp Earnings Call
Speaker 1: That that, that that.
readetings. Welcome to the safe and green holding. Second quarter 2023 business update conference call.
Operating expenses for the second quarter of 2023, or $5 6 million compared to $2 1 million for the second quarter of 2022.
This increase was primarily attributable to an increase in head count and salary expense. During the three months ended June 32023, as well as the vesting of additional restricted stock units during 2023.
The second quarter of 2023 also included significant expenses allocated to the build out of S. G KEPCO.
And the medical segment that were not incurred in the same period last year.
The net loss attributable to common shareholders was approximately $5 $6 million or <unk> 37 per share in the second quarter of 2023 compared to a net loss of $1 $4 million or <unk> 11 per share in the second quarter of 'twenty 'twenty chair.
The company's adjusted EBITDA loss for the second quarter ended June 32023 was approximately $2 3 million as compared to adjusted EBITDA of approximately 512000 for the second quarter ended June 32022.
At June 30 of 2023, the company had a cash balance of short term investments of $1 6 million compared to $600000 at December 31 2022.
As of June 32023, Stockholders' equity was $9 3 million compared to $20 4 million as of June 30, what are you trying to.
Through various strategic measures, we expect to raise millions and non dilutive funds, including the planned sale of our Lago Vista site there.
This should enable the company to accelerate its expansion by bolstering the strength of our balance sheet and highlighting our capability to leverage assets to maximize the shareholder returns.
I would now like to turn the call back over to Paul for closing remarks.
Thanks, Tricia I would like to offer our sincere thanks to all of you for joining US today, we're very proud of the progress that safe and Green has made and we're confident that the best is yet to come we look forward to providing you with updates on our progress in the coming weeks. Thank you.