XML 29 R19.htm IDEA: XBRL DOCUMENT
v3.8.0.1

Liquidity and Financial Condition (Tables) | 9 Months Ended
--- | ---
Sep. 30, 2017
Liquidity and Financial Condition [Abstract] |
Schedule of reorganization condensed consolidated balance sheet |
|  | Predecessor Company |  |  | Reorganization Adjustments |  |  |  | Fresh Start Adjustments |  |  | Successor Company |
|  |  | (Unaudited) |  |  |  |  |  |  |  |  |  |  |  |  |  |
Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | - |  |  | $ | 955,803 |  | (1) |  | $ | - |  |  | $ | 955,803 |
Short-term investment |  |  | 30,011 |  |  |  | - |  |  |  |  | - |  |  |  | 30,011 |
Accounts receivable, net |  |  | 190,893 |  |  |  | - |  |  |  |  | - |  |  |  | 190,893 |
Prepaid expenses |  |  | 28,589 |  |  |  | - |  |  |  |  | - |  |  |  | 28,589 |
Inventory |  |  | 40,170 |  |  |  | - |  |  |  |  | - |  |  |  | 40,170 |
Total current assets |  |  | 289,663 |  |  |  | 955,803 |  |  |  |  | - |  |  |  | 1,245,466 |
Equipment, net |  |  | 5,600 |  |  |  | - |  |  |  |  | - |  |  |  | 5,600 |
Security deposit |  |  | 1,200 |  |  |  | - |  |  |  |  | - |  |  |  | 1,200 |
Goodwill |  |  | - |  |  |  | - |  |  |  |  | 4,162,173 | (7) |  |  | 4,162,173 |
Intangible assets |  |  | - |  |  |  | - |  |  |  |  | 3,879,000 | (7) |  |  | 3,879,000 |
Totals |  | $ | 296,463 |  |  | $ | 955,803 |  |  |  | $ | 8,041,173 |  |  | $ | 9,293,439 |
Liabilities and Stockholders’ Equity (Deficit) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Accounts payable and accrued expenses |  | $ | 487,699 |  |  | $ | (212,219 | ) | (2) |  | $ | - |  |  | $ | 275,480 |
Accounts payable and accrued expenses – subject to compromise |  |  | 120,325 |  |  |  | (86,612 | ) | (2) |  |  | - |  |  |  | 33,713 |
Accrued interest, related party – subject to compromise |  |  | 43,301 |  |  |  | (16,801 | ) | (2) |  |  | - |  |  |  | 26,500 |
Accrued interest |  |  | 173,147 |  |  |  | (173,147 | ) | (2) |  |  | - |  |  |  | - |
Related party accounts payable and accrued expenses – subject to compromise |  |  | 370,151 |  |  |  | (163,522 | ) | (2) |  |  | - |  |  |  | 206,629 |
Related party notes payable – secured claim |  |  | 73,500 |  |  |  | - |  |  |  |  | - |  |  |  | 73,500 |
Convertible debentures, net of discounts |  |  | 5,405,010 |  |  |  | (5,405,010 | ) | (3) |  |  | - |  |  |  | - |
Billings in excess of costs and estimated earnings on uncompleted contracts |  |  | 42,674 |  |  |  | - |  |  |  |  | - |  |  |  | 42,674 |
Deferred revenue |  |  | 83,415 |  |  |  | - |  |  |  |  | - |  |  |  | 83,415 |
Convertible option liabilities |  |  | - |  |  |  | 394,460 |  | (4) |  |  | - |  |  |  | 394,460 |
Total current liabilities |  |  | 6,799,222 |  |  |  | (5,662,851 | ) |  |  |  | - |  |  |  | 1,136,371 |
Debtor in possession financing |  |  | 600,000 |  |  |  | (600,000 | ) | (4) |  |  | - |  |  |  | - |
Convertible debentures, net of discounts |  |  | - |  |  |  | 1,605,540 |  | (4) |  |  | - |  |  |  | 1,605,540 |
Total liabilities |  |  | 7,399,222 |  |  |  | (4,657,311 | ) |  |  |  | - |  |  |  | 2,741,911 |
Commitments and Contingencies |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Stockholders’ equity (deficit): |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Successor preferred stock, $1.00 par value, 5,405,010 shares authorized; 1,801,670 issued and outstanding at June 30, 2016 |  |  | - |  |  |  | 1,801,670 |  | (3) |  |  | - |  |  |  | 1,801,670 |
Predecessor preferred stock, $0.01 par value, 5,000,000 shares authorized; 0 issued and outstanding at December 31, 2015 |  |  | - |  |  |  | - |  |  |  |  | - |  |  |  | - |
Successor common stock, $0.01 par value, 300,000,000 shares authorized; 163,901 issued and outstanding at June 30, 2016 |  |  | - |  |  |  | 1,639 |  | (5) |  |  | - |  |  |  | 1,639 |
Predecessor common stock, $0.01 par value, 300,000,000 shares authorized; 42,918,927 issued and outstanding at December 31, 2015 |  |  | 429,189 |  |  |  | (429,189 | ) | (5) |  |  | - |  |  |  | - |
Successor additional paid-in capital |  |  | - |  |  |  | 3,561,463 |  | (3)(6) |  |  | 1,186,756 | (7) |  |  | 4,748,219 |
Predecessor additional paid-in capital |  |  | 7,290,829 |  |  |  | - |  |  |  |  | (7,290,829 | ) (7) |  |  | - |
Accumulated deficit |  |  | (14,822,777 | ) |  |  | 677,531 |  |  |  |  | 14,145,246 | (7) |  |  | - |
Total stockholders’ equity (deficit) |  |  | (7,102,759 | ) |  |  | 5,613,114 |  |  |  |  | 8,041,173 |  |  |  | 6,551,528 |
Totals |  | $ | 296,463 |  |  | $ | 955,803 |  |  |  | $ | 8,041,173 |  |  | $ | 9,293,439 |
| 1. | Reflects the net cash payments recorded as of the Effective Date from implementation of the Plan:
| 2. | Reflects the settlement of accounts payable and accrued expenses upon our emergence from bankruptcy, as well as payments made on the Effective Date.
| 3. | Reflects the conversion of Convertible Debentures to Preferred Stock.
| 4. | Reflects the Convertible Debentures.
| 5. | Reflects the cancellation of Former Common Stock and the issuance of New Common Stock.
| 6. | Reorganization adjustment.
| 7. | Reflects the recognition of goodwill, intangible assets and the cumulative impact of fresh-start adjustments.
Schedule of reorganization adjustments net cash payments recorded as of effective date from implementation plan |
| Sources: |  |  |
| Net proceeds from Exit Facility |  | $ | 1,319,001 |
| Total sources |  |  | 1,319,001 |
| Uses: |  |  |  |
| Predecessor accounts payable and accrued expenses paid upon emergence |  |  | 185,979 |
| Other payments made upon emergence |  |  | 177,219 |
| Total uses |  |  | 363,198 |
| Net Sources |  | $ | 955,803 |
Schedule of reorganization items represent amounts incurred subsequent to bankruptcy filing |
|  | Successor For the Three Months Ended September 30, 2016 |  |  | Predecessor For the Six Months Ended June 30, 2016 |
Professional fees |  | $ | (64,821 | ) |  | $ | (171,893 | )
Net gain on reorganization items |  |  | - |  |  |  | 713,379 |
Reorganization items, net |  | $ | (64,821 | ) |  | $ | 541,486 |

X
- References No definition available. + Details
Name: | sgbxq_LiquidityAndFinancialConditionAbstract
Namespace Prefix: | sgbxq_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of reorganization items represent amounts incurred subsequent to the bankruptcy filing. + References No definition available. + Details
Name: | sgbxq_ScheduleOfReorganizationItemsSubsequentToBankruptcyFilingTableTextBlock
Namespace Prefix: | sgbxq_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of condensed balance sheet, including, but not limited to, balance sheets of consolidated entities and consolidation eliminations. + References No definition available. + Details
Name: | us-gaap_ScheduleOfCondensedBalanceSheetTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of description and amounts of adjustments to historical balance sheet to arrive at fresh-start amounts following bankruptcy and reorganization with a different owner. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 852 -SubTopic 10 -Section 55 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=84165509&loc=d3e56426-112766 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 852 -SubTopic 10 -Section 50 -Paragraph 7 -Subparagraph (a)-(b) -URI http://asc.fasb.org/extlink&oid=6918054&loc=SL2890621-112765 + Details
Name: | us-gaap_ScheduleOfFreshStartAdjustmentsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration