<SEC-DOCUMENT>0001213900-19-007169.txt : 20190426
<SEC-HEADER>0001213900-19-007169.hdr.sgml : 20190426
<ACCEPTANCE-DATETIME>20190426061854
ACCESSION NUMBER:		0001213900-19-007169
CONFORMED SUBMISSION TYPE:	424B5
PUBLIC DOCUMENT COUNT:		2
FILED AS OF DATE:		20190426
DATE AS OF CHANGE:		20190426

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			SG BLOCKS, INC.
		CENTRAL INDEX KEY:			0001023994
		STANDARD INDUSTRIAL CLASSIFICATION:	WHOLESALE-LUMBER & OTHER CONSTRUCTION MATERIALS [5030]
		IRS NUMBER:				954463937
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		424B5
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	333-228882
		FILM NUMBER:		19769285

	BUSINESS ADDRESS:	
		STREET 1:		195 MONTAGUE STREET, 14TH FLOOR
		CITY:			BROOKLYN
		STATE:			NY
		ZIP:			11201
		BUSINESS PHONE:		(646) 240-4235

	MAIL ADDRESS:	
		STREET 1:		195 MONTAGUE STREET, 14TH FLOOR
		CITY:			BROOKLYN
		STATE:			NY
		ZIP:			11201

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	CDSI HOLDINGS INC
		DATE OF NAME CHANGE:	19990114

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	PC411 INC
		DATE OF NAME CHANGE:	19961001
</SEC-HEADER>
<DOCUMENT>
<TYPE>424B5
<SEQUENCE>1
<FILENAME>f424b50419_sgblocks.htm
<DESCRIPTION>PROSPECTUS SUPPLEMENT
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Filed Pursuant to Rule 424(b)(5)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Registration No. 333-228882</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><B>Prospectus Supplement</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><B>(to Prospectus dated December 18, 2018)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt; margin-right: 0"><IMG SRC="img_001.jpg" ALT=""></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SG BLOCKS, INC.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>847,750 SHARES OF COMMON STOCK</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 27pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We are offering
847,750 shares of our common stock, par value $0.01 per share, at a price of $1.10 per share, pursuant to this prospectus supplement
and the accompanying prospectus. Our common stock is listed on The Nasdaq Capital Market under the symbol &ldquo;SGBX.&rdquo; On
April 24, 2019, the last reported sale price of our common stock on The Nasdaq Capital Market was $1.35 per share.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In a concurrent
private placement, we are selling to the purchasers of shares of our common stock in this offering, warrants to purchase up to
a number of shares of our common stock equal to 100% of the shares issued to such purchasers pursuant to this offering (the &ldquo;Warrants&rdquo;),
at an exercise price per share of $1.375. The Warrants will be exercisable six (6) months from the date of issuance and have a
term of exercise equal to five (5) years from the initial exercise date. The Warrants and the shares of our common stock issuable
upon the exercise of the Warrants (the &ldquo;Warrant Shares&rdquo;) are not being registered under the Securities Act of 1933,
as amended (the &ldquo;Securities Act&rdquo;), are not being offered pursuant to this prospectus supplement and the accompanying
prospectus, and are being offered pursuant to the exemption provided in Section 4(a)(2) under the Securities Act and/or Regulation
D.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The aggregate
market value of our outstanding common stock held by non-affiliates is approximately $5,601,276, based on 4,260,041 shares of common
stock outstanding, of which 4,149,094 shares are held by non-affiliates, and a per share value of $1.35, based on the closing price
of our common stock on the Nasdaq Capital Market on April 24, 2019. During the 12 calendar month period that ends on, and includes,
the date of this prospectus supplement, we have not offered any securities pursuant to General Instruction I.B.6. of Form S-3.
Pursuant to General Instruction I.B.6 of Form S-3, in no event will we sell securities registered on the registration statement,
of which this prospectus supplement is a part, in a public primary offering with a value exceeding more than one-third of our public
float in any 12 month period so long as our public float remains below $75.0 million.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>INVESTING IN
OUR SECURITIES INVOLVES SIGNIFICANT RISKS. YOU SHOULD REVIEW CAREFULLY THE RISKS DESCRIBED IN &ldquo;RISK FACTORS&rdquo; BEGINNING
ON PAGE S-2 OF THIS PROSPECTUS SUPPLEMENT AND INFORMATION INCLUDED AND INCORPORATED BY REFERENCE BEFORE INVESTING IN OUR SECURITIES.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>Neither the
U.S. Securities and Exchange Commission nor any state securities commission has approved or disapproved of these securities or
determined if this prospectus is truthful or complete. Any representation to the contrary is a criminal offense.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We have retained
Roth Capital Partners, LLC to act as the exclusive placement agent in connection with the securities offered by this prospectus
supplement and the accompanying prospectus. The placement agent has agreed to use its reasonable best efforts to arrange for the
sale of the securities offered by this prospectus supplement and the accompanying prospectus. The placement agent has no obligation
to purchase any of the securities offered hereunder or to arrange for the sale of any specific number or dollar amount of the securities
offered hereunder. The placement agent may engage one or more selected dealers or sub-agents in connection with this offering.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We have agreed
to pay the placement agent the placement agent fees set forth in the table below, which assumes that we sell all of the securities
we are offering.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.4in"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Per&nbsp;Share</TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Total</TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 76%; text-indent: -10.1pt; padding-left: 10.1pt">Public offering price</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 9%; text-align: right">1.10</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 9%; text-align: right">932,525</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -10.1pt; padding-left: 10.1pt"><FONT STYLE="font-size: 10pt">Placement agent fees<SUP>(1)</SUP></FONT></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">0.077</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">65,277</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -10.1pt; padding-left: 10.1pt"><FONT STYLE="font-size: 10pt">Net proceeds to us (before expenses)<SUP>(2)</SUP></FONT></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">1.023</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">867,248</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in; text-align: left">(1)</TD><TD STYLE="text-align: justify">We have also agreed to reimburse the placement agent for
certain of its expenses and to grant warrants to purchase shares of common stock to the placement agent as described under the
&ldquo;Plan of Distribution&rdquo; on page S-8 of this prospectus supplement.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in; text-align: left">(2)</TD><TD STYLE="text-align: justify">The amount of the offering proceeds to us presented in
this table does not give effect to any exercise of the Warrants being issued in the concurrent private placement.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We anticipate delivery
of the shares will be made on or about April 29, 2019, subject to customary closing conditions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 16pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Roth Capital Partners</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>The date of this prospectus supplement
is April 25, 2019.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>


<!-- Field: Page; Sequence: 1 -->
    <DIV STYLE="margin: 12pt 0 6pt; border-bottom: Black 1.5pt solid"><P STYLE="margin: 0pt 0">&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin: 6pt 0 12pt"><P STYLE="margin: 0pt 0">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><A NAME="toc"></A><B>TABLE OF CONTENTS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Prospectus Supplement</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.1in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="width: 92%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="#ps_001">ABOUT THIS PROSPECTUS SUPPLEMENT</A></FONT></TD>
    <TD STYLE="width: 8%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">S-ii</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="#ps_002">PROSPECTUS SUPPLEMENT SUMMARY</A></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">S-1</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="#ps_003">RISK FACTORS</A></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">S-2</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="#ps_004">SPECIAL NOTE REGARDING FORWARD-LOOKING INFORMATION</A></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">S-4</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="#ps_005">WHERE YOU CAN FIND MORE INFORMATION</A></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">S-4</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="#ps_006">INFORMATION INCORPORATED BY REFERENCE</A></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">S-5</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="#ps_007">USE OF PROCEEDS</A></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">S-6</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="#ps_008">DILUTION</A></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">S-6</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="#ps_009">DIVIDEND POLICY</A></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">S-7</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="#ps_010">PLAN OF DISTRIBUTION</A></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">S-8</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="#ps_011">PRIVATE PLACEMENT OF WARRANTS</A></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">S-9</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="#ps_012">LEGAL MATTERS</A></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">S-10</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="#ps_013">EXPERTS</A></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">S-10</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.1in; text-align: center"><B>Prospectus</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.1in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="width: 92%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="#a_001">ABOUT THIS PROSPECTUS</A></FONT></TD>
    <TD STYLE="width: 8%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">ii</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="#a_002">PROSPECTUS SUMMARY</A></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="#a_003">RISK FACTORS</A></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="#a_004">SPECIAL NOTE REGARDING FORWARD-LOOKING INFORMATION</A></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="#a_005">WHERE YOU CAN FIND MORE INFORMATION</A></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="#a_006">INFORMATION INCORPORATED BY REFERENCE</A></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="#a_007">USE OF PROCEEDS</A></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">5</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="#a_008">DESCRIPTION OF CAPITAL STOCK</A></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">6</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="#a_009">DESCRIPTION OF DEBT SECURITIES</A></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">9</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="#a_010">DESCRIPTION OF WARRANTS</A></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">17</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="#a_011">DESCRIPTION OF UNITS</A></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">19</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="#a_012">PLAN OF DISTRIBUTION</A></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">20</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="#a_013">LEGAL MATTERS</A></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">21</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="#a_014">EXPERTS</A></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">21</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>


<!-- Field: Page; Sequence: 2; Options: NewSection; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="margin-top: 0pt; text-align: center; margin-bottom: 0pt">S-<!-- Field: Sequence; Type: LowerRoman; Name: PageNo -->i<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"><A HREF="#toc">Table of Contents</A>&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><A NAME="ps_001"></A>ABOUT THIS PROSPECTUS SUPPLEMENT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.55in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">This prospectus
supplement and the accompanying prospectus relate to the offering of our common stock. You should read this prospectus supplement,
the accompanying prospectus, the documents incorporated by reference into this prospectus supplement and the accompanying prospectus,
and any free writing prospectus that we may authorize for use in connection with this offering, in their entirety before making
an investment decision. You should also read and consider the information in the documents to which we have referred you in the
section of this prospectus supplement entitled &ldquo;Where You Can Find More Information&rdquo; and &ldquo;Incorporation by Reference.&rdquo;
These documents contain important information that you should consider when making your investment decision.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">This document
is in two parts. The first part is this prospectus supplement, which describes the specific terms of the offering of the common
stock and also adds to and updates information contained in the accompanying prospectus and the documents incorporated by reference
into this prospectus supplement and the accompanying prospectus. The second part, the accompanying prospectus, including the documents
incorporated by reference into the accompanying prospectus, provides more general information, some of which may not apply to this
offering. Generally, when we refer to this prospectus, we are referring to the combined document consisting of this prospectus
supplement and the accompanying prospectus. To the extent there is a conflict between the information contained in this prospectus
supplement, on the one hand, and the information contained in the accompanying prospectus or in any document incorporated by reference
into the accompanying prospectus that was filed with the Securities and Exchange Commission, or SEC, before the date of this prospectus
supplement, on the other hand, you should rely on the information in this prospectus supplement. If any statement in one of these
documents is inconsistent with a statement in another document having a later date, the statement in the document having the later
date modifies or supersedes the earlier statement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">You should rely
only on the information contained or incorporated herein by reference in this prospectus supplement and contained or incorporated
therein by reference in the accompanying prospectus. We have not authorized anyone to provide you with different or additional
information. If anyone provides you with different, additional or inconsistent information, you should not rely on it.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We are offering
to sell the shares only in jurisdictions where such offers and sales are permitted. The distribution of this prospectus supplement
and the accompanying prospectus and the offering of the shares in certain jurisdictions or to certain persons within such jurisdictions
may be restricted by law. Persons outside the United States who come into possession of this prospectus supplement and the accompanying
prospectus must inform themselves about and observe any restrictions relating to the offering of the shares and the distribution
of this prospectus supplement and the accompanying prospectus outside the United States. This prospectus supplement and the accompanying
prospectus do not constitute, and may not be used in connection with, an offer to sell, or a solicitation of an offer to buy, any
shares offered by this prospectus supplement and the accompanying prospectus by any person in any jurisdiction in which it is unlawful
for such person to make such an offer or solicitation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">You should assume
that the information in this prospectus supplement and the accompanying prospectus is accurate only as of the date on the front
of the applicable document and that any information we have incorporated by reference is accurate only as of the date of the document
incorporated by reference, regardless of the time of delivery of this prospectus supplement or the accompanying prospectus, or
any sale of a security. Our business, financial condition, results of operations and prospects may have changed since those dates.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<!-- Field: Page; Sequence: 3; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="margin-top: 0pt; text-align: center; margin-bottom: 0pt">S-<!-- Field: Sequence; Type: LowerRoman; Name: PageNo -->ii<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"><A HREF="#toc">Table of Contents</A>&nbsp;</P></DIV>
    <!-- Field: /Page -->

<DIV STYLE="padding-right: 5pt; padding-left: 5pt; border: Black 1.5pt solid; width: 98%">

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><A NAME="ps_002"></A>PROSPECTUS SUPPLEMENT
SUMMARY</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>This
summary highlights information contained elsewhere, or incorporated by reference, in this prospectus. As a result, it does not
contain all the information that may be important to you. To understand this offering fully, you should read this entire prospectus
carefully, including the risk factors under the section entitled &ldquo;Risk Factors&rdquo; and the documents incorporated by reference
into this prospectus.</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Our Business</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>References
in this section to the &ldquo;Company,&rdquo; &ldquo;we,&rdquo; &ldquo;us&rdquo; and &ldquo;our&rdquo; refer to SG Blocks, Inc.
and our consolidated subsidiaries.</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The
Company is in the business of modifying cargo shipping containers and purpose-built modules for use in construction. We provide
two main products, both of which are used to meet the growing demand for safe and green commercial, industrial and residential
building construction. SG Blocks<SUP>TM</SUP> are code engineered cargo shipping containers that the Company modifies for use in
construction. Rather than consuming new steel and lumber, SG Blocks<SUP>TM</SUP> capitalize on the structural engineering and design
parameters a shipping container must meet and repurposes them for use in building. These products offer the construction industry
a safer, greener, faster, longer lasting and more economical alternative to conventional construction methods. The Company also
provides purpose-built modules, which are prefabricated steel modular units created specifically for use in modular construction
and which maintain the interlocking and intermodal functionality of shipping containers. We sell our products primarily to customers
in the multi-family housing, restaurant, military, education industries throughout the United States.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We
were incorporated in the State of Delaware in 1993. Our principal executive offices are located at 195 Montague Street, 14th Floor,
Brooklyn, NY 11201, and our telephone number is (646) 240-4235. Our website address is www.sgblocks.com. The information contained
on, or accessible through, our website is not part of this prospectus or any prospectus supplement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;SG
Blocks<SUP>TM</SUP>&rdquo;, GreenSteel and the SG logo are our trademarks. All other trademarks and service marks appearing in
this prospectus are the property of their respective owners.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>The Offering</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="width: 35%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>Common Stock offered pursuant to this prospectus
supplement</I></P></TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 63%"><FONT STYLE="font-size: 10pt">847,750 shares of our common stock.</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD><FONT STYLE="font-size: 10pt"><I>Common Stock to be outstanding immediately after the offering</I></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">5,107,791 shares of common stock. The number of shares of common stock to be outstanding after this offering is based on 4,260,041 shares of common stock outstanding as of April 24, 2019 and excludes, as of that date, 847,750 shares of common stock issuable upon the exercise of the warrants offered in the concurrent private placement; 84,775 shares of common stock issuable upon the exercise of the warrants issuable to the placement agent in this offering; and 1,080,059 shares of common stock issuable upon exercise of outstanding options (vested and unvested) and 330,002 RSUs (unvested) under our SG Blocks, Inc. Stock Incentive Plan.</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD><FONT STYLE="font-size: 10pt"><I>Concurrent Offering</I></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">In a concurrent private placement, we are selling to the purchasers of shares of our common stock in this offering warrants to purchase up to a number of shares of our common stock equal to 100% of the shares issued to such purchasers pursuant to this offering, at an exercise price per share of $1.375. The Warrants will be exercisable six (6) months from the date of issuance and have a term of exercise equal to five (5) years from the initial exercise date. The Warrants and the Warrant Shares are not being registered under the Securities Act, are not being offered pursuant to this prospectus supplement and the accompanying prospectus and are being offered pursuant to the exemption provided in Section 4(a)(2) under the Securities Act and/or Regulation D. See &ldquo;Private Placement of Warrants&rdquo; on page S-9 of this prospectus supplement for a more complete description of the concurrent offering.</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD><FONT STYLE="font-size: 10pt"><I>Use of proceeds</I></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">We expect to use the net proceeds from the sale of securities pursuant to this offering for working capital purposes. Please see &ldquo;Use of Proceeds&rdquo; below.</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD><FONT STYLE="font-size: 10pt"><I>Risk factors</I></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Investing in our common stock involves substantial risk. For a discussion of risks relating to us, our business and an investment in our common stock that you should consider before investing in our common stock, see &ldquo;Risk Factors&rdquo; below and all other information set forth in this prospectus, and under similar headings in other documents filed after the date hereof and incorporated by reference into this prospectus supplement and the accompanying prospectus.</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD><FONT STYLE="font-size: 10pt"><I>Nasdaq symbol</I></FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">SGBX</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>&nbsp;</I></P>

</DIV>


<!-- Field: Page; Sequence: 4; Options: NewSection; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="margin-top: 0pt; text-align: center; margin-bottom: 0pt">S-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->1<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"><A HREF="#toc">Table of Contents</A>&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><A NAME="ps_003"></A>RISK FACTORS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>An investment
in our securities involves a high degree of risk. We urge you to consider carefully the risks described below, and in the documents
incorporated by reference in this prospectus supplement and the accompanying prospectus, before making an investment decision,
including those risks described under &ldquo;Item 1A. Risk Factors&rdquo; in our Annual Report on Form 10-K for the year ended
December 31, 2018, filed with the SEC on March 29, 2019, each of which is incorporated by reference in this prospectus supplement
and which may be amended, supplemented or superseded from time to time by other reports that we subsequently file with the SEC.
Additional risks, including those that relate to any particular securities we offer, may be included in a future prospectus supplement
or free writing prospectus that we authorize from time to time, or that are incorporated by reference into this prospectus supplement
or the accompanying prospectus in connection with this offering. If any of these risks actually occurs, our business, financial
condition, results of operations or cash flow could be materially and adversely affected. This could cause the trading price of
our common stock to decline, resulting in a loss of all or part of your investment. In addition, our past financial performance
may not be a reliable indicator of future performance, and historical trends should not be used to anticipate results in the future.
Please read carefully the section below entitled &ldquo;Special Note Regarding Forward-Looking Information.&rdquo;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Risks Related to this Offering</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Our management will
have broad discretion over the use of the net proceeds from this offering, you may not agree with how we use the proceeds, and
the proceeds may not be invested successfully.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 33.3pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our management
will have broad discretion in the application of the net proceeds from this offering, and our stockholders will not have the opportunity
as part of their investment decision to assess whether the net proceeds are being used appropriately. Because of the number and
variability of factors that will determine our use of the net proceeds from this offering, their ultimate use may vary substantially
from their currently intended use. The failure by our management to apply these funds effectively could harm our business. See
&ldquo;Use of Proceeds&rdquo; on page S-6 of this prospectus supplement for a description of our proposed use of proceeds from
this offering.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>You will experience immediate
and substantial dilution in the net tangible book value per share of the common stock you purchase. </I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The offering price
per share of our common stock being offered is substantially lower than the net tangible book value per share of our outstanding
common stock. As a result, the investors purchasing shares of our common stock in this offering will incur immediate dilution of
$0.87 per share, after giving effect to the sale of an aggregate of 847,750 shares of our common stock at an offering price of
$1.10 per share, after deducting placement agent fees and estimated offering expenses payable by us and using our as adjusted net
tangible book value per share as of December 31, 2018. See &ldquo;Dilution&rdquo; on page S-6 of this prospectus supplement for
a more detailed discussion of the dilution you will incur if you purchase shares in this offering.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>We do not expect to
pay dividends in the foreseeable future. Any return on investment may be limited to the value of our common stock.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We have
never paid cash dividends on our common stock and currently do not plan to pay any cash dividends in the foreseeable future. For
the foreseeable future, we intend to retain any earnings to finance the development and expansion of our business, and we do not
anticipate paying any cash dividends on our common stock. Any determination to pay dividends in the future will be at the discretion
of our Board of Directors and will depend upon our future earnings, financial condition and such other business and economic factors
as our management may consider relevant. Accordingly, if you purchase shares of our common stock, realization of a gain on your
investment will depend on the appreciation of the price of our common stock, which may never occur. Investors seeking cash dividends
in the foreseeable future should not purchase our common stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Our financial status
raises doubt about our ability to continue as a going concern and we may require additional debt or equity financing, which may
otherwise not be available on reasonable terms or at all.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our cash
and cash equivalents were $1,368,395 at December 31, 2018, compared with $4,900,857 at December 31, 2017. If we are not successful
with our continued efforts to increase revenue, we could experience a shortfall in cash over the next twelve (12) months. If there
is a shortfall, we may be forced to reduce operating expenses, among other steps, all of which would have a material adverse effect
on our operations going forward.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

<!-- Field: Page; Sequence: 5; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="margin-top: 0pt; text-align: center; margin-bottom: 0pt">S-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->2<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"><A HREF="#toc">Table of Contents</A>&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We may
seek to obtain debt or additional equity financing to meet any cash shortfalls. The type, timing and terms of any financing we
may select will depend on, among other things, our cash needs, the availability of other financing sources and prevailing conditions
in the financial markets. However, there can be no assurance that we will be able to secure additional funds if needed and that,
if such funds are available, the terms or conditions would be acceptable to us. If the amount of capital we are able to raise from
financing activities, together with our revenues from operations, is not sufficient to satisfy our capital needs, we may need to
reduce our operations by, for example, selling certain assets, in order for us to ensure enough liquidity to sustain our operations.
Future financings through equity offerings by us will be dilutive to existing stockholders. Also, the terms of securities we may
issue in future capital transactions may be more favorable to new investors than our current investors. Newly issued securities
may include preferences, superior voting rights, the issuance of warrants or other derivative securities. We may also issue incentive
awards under employee equity incentive plans, which may have additional dilutive effects. We may also be required to recognize
non-cash expenses in connection with certain securities we may issue in the future such as convertible notes and warrants, which
would adversely impact our financial condition and results of operations. Our ability to obtain needed financing may be impaired
by factors, including the condition of the economy and capital markets, both generally and specifically in our industry, and the
fact that we are not profitable, which could impact the availability or cost of future financing. If we incur debt, we will likely
be subject to restrictive covenants that significantly limit our operating flexibility and require us to encumber our assets. If
we fail to raise sufficient funds and continue to incur losses, our ability to fund our operations, take advantage of strategic
opportunities, or otherwise respond to competitive pressures will be significantly limited. Any of the above limitations could
force us to significantly curtail or cease our operations, and you could lose all of your investment in our common stock. These
circumstances have, in the past, raised substantial doubt about our ability to continue as a going concern, and continued cash
losses may risk our status as a going concern. Our consolidated financial statements do not include any adjustments that might
be necessary should we be unable to continue as a going concern.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Some provisions of our
articles of incorporation and bylaws may deter takeover attempts, which may inhibit a takeover that stockholders consider favorable
and limit the opportunity of our stockholders to sell their shares at a favorable price.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Certain
provisions of Delaware law, including Section 203 of the DGCL, our Amended and Restated Certificate of Incorporation, as amended,
and our Amended and Restated Bylaws contain provisions that could have the effect of delaying, deferring or discouraging another
party from acquiring control of us. These provisions are expected to discourage certain types of coercive takeover practices and
inadequate takeover bids. These provisions are also designed, in part, to encourage persons seeking to acquire control of us to
first negotiate with our Board of Directors. We believe that the benefits of increased protection of our potential ability to negotiate
with an unfriendly or unsolicited acquirer outweigh the disadvantages of discouraging such proposals, including proposals that
are priced above the then-current market value of our common stock, because, among other reasons, such negotiation could result
in an improvement of the terms of such proposals.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>A substantial number
of shares of our common stock may be sold in this offering, which could cause the price of our common stock to decline.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In this offering we are selling
847,750 shares of common stock, which represents approximately 19.99% of our outstanding common stock as of April 24, 2019. In
addition, the investors in this offering will receive, in the concurrent private placement, unregistered Warrants to purchase up
to 847,750 shares of our common stock. This sale and any future sales of a substantial number of shares of our common stock in
the public market, or the perception that such sales may occur, could adversely affect the price of our common stock on the Nasdaq
Capital Market. We cannot predict the effect, if any, that market sales of those shares of our common stock or the availability
of those shares of our common stock for sale will have on the market price of our common stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>


<!-- Field: Page; Sequence: 6; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="margin-top: 0pt; text-align: center; margin-bottom: 0pt">S-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->3<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"><A HREF="#toc">Table of Contents</A>&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;<B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><A NAME="ps_004"></A>SPECIAL NOTE REGARDING FORWARD-LOOKING
INFORMATION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">This prospectus
supplement, the accompanying prospectus, and the other documents that we incorporate by reference, may contain forward-looking
statements within the meaning of Section 27A of the Securities Act, and Section 21E of the Securities Exchange Act of 1934, as
amended (the &ldquo;Exchange Act&rdquo;), that involve substantial risks and uncertainties. All statements, other than statements
of historical facts, regarding our strategy, future operations, future financial position, future revenues, projected costs, prospects,
plans, objectives of management or other financial items are forward-looking statements. The words &ldquo;anticipate,&rdquo; &ldquo;believe,&rdquo;
&ldquo;estimate,&rdquo; &ldquo;expect,&rdquo; &ldquo;intend,&rdquo; &ldquo;may,&rdquo; &ldquo;plan,&rdquo; &ldquo;predict,&rdquo;
&ldquo;project,&rdquo; &ldquo;will,&rdquo; &ldquo;would&rdquo; and similar expressions are intended to identify forward-looking
statements, although not all forward-looking statements contain these identifying words.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Company cautions
that forward-looking statements involve risks and uncertainties, and actual results could differ materially from those expressed
or implied in these forward-looking statements or could affect the extent to which a particular objective, projection, estimate
or prediction is realized. We have included important factors in the cautionary statements included in this prospectus supplement,
particularly as set forth and incorporated by reference in the &ldquo;Risk Factors&rdquo; section above, that we believe could
cause actual results or events to differ materially from the forward-looking statements that we make. Our forward-looking statements
do not reflect the potential impact of any future acquisitions, mergers, dispositions, joint ventures, collaborations or investments
we may make. These statements are subject to business and economic risk and reflect management&rsquo;s current expectations, and
involve subjects that are inherently uncertain and difficult to predict. You should read this prospectus supplement, the accompanying
prospectus and the documents that we incorporate by reference in this prospectus supplement completely and with the understanding
that our actual future results may be materially different from what we expect. We do not assume any obligation, and we expressly
disclaim any obligation, to update or alter any forward-looking statements, except as otherwise required by law. We advise you,
however, to consult any further disclosures we make on related subjects in our future annual reports on Form 10-K, quarterly reports
on Form 10-Q and current reports on Form 8-K we file with or furnish to the SEC. Investors are cautioned not to place undue reliance
on the forward-looking statements, which speak only as of the date of this prospectus supplement, the date of the accompanying
prospectus, or the date of any document incorporated by reference, as applicable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><A NAME="ps_005"></A>WHERE YOU CAN FIND MORE INFORMATION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We are a public
company and file annual, quarterly and current reports, proxy statements and other information with the SEC. The SEC maintains
an internet site that contains reports, proxy and information statements, and other information regarding issuers that file electronically
with the SEC, at www.sec.gov. Our SEC filings are also available to the public on our website at www.sgblocks.com. The information
contained on, or accessible through, our website is not part of this prospectus supplement or the accompanying prospectus. In addition,
our common stock is listed for trading on the Nasdaq Capital Market under the symbol &ldquo;SGBX.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">This prospectus
supplement and the accompanying prospectus are only part of a registration statement on Form S-3 that we have filed with the SEC
under the Securities Act, and therefore omits certain information contained or incorporated by reference in the registration statement.
We have also filed exhibits and schedules with the registration statement that are excluded from this prospectus supplement and
the accompanying prospectus, and you should refer to the applicable exhibit or schedule for a complete description of any statement
referring to any contract or other document. You may:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: -0.25in"><I>&nbsp;</I></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: left">&#9679;</TD><TD STYLE="text-align: justify">inspect a copy of the registration statement, including
the exhibits and schedules, without charge at the public reference room,</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: -0.25in"><I>&nbsp;</I></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: left">&#9679;</TD><TD STYLE="text-align: justify">obtain a copy from the SEC upon payment of the fees
prescribed by the SEC, or</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: -0.25in"><I>&nbsp;</I></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: left">&#9679;</TD><TD STYLE="text-align: justify">obtain a copy from the SEC&rsquo;s website or our website.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>


<!-- Field: Page; Sequence: 7; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="margin-top: 0pt; text-align: center; margin-bottom: 0pt">S-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->4<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"><A HREF="#toc">Table of Contents</A>&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;<B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><A NAME="ps_006"></A>INFORMATION INCORPORATED BY REFERENCE</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The SEC allows
us to &ldquo;incorporate by reference&rdquo; the information we file with it, which means that we can disclose important information
to you by referring you to other documents that we have filed separately with the SEC. The information incorporated by reference
is considered to be part of this prospectus supplement, except for any information superseded by information contained directly
in this prospectus supplement, and information we file later with the SEC will automatically be deemed to update and supersede
this information. We incorporate by reference the documents listed below and any future filings made with the SEC under Sections
13(a), 13(c), 14 or 15(d) of the Exchange Act (excluding, in each case, any portions of such documents that have been &ldquo;furnished&rdquo;
but not &ldquo;filed&rdquo; for purposes of the Exchange Act). The documents we are incorporating by reference as of their respective
dates of filing are as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: -0.25in"><I>&nbsp;</I></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD STYLE="text-align: justify">Our Annual Report on Form 10-K for the year ended December
31, 2018, filed with the SEC on March 29, 2019.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: -0.25in"><I>&nbsp;</I></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD STYLE="text-align: justify">Our Current Reports on Form 8-K filed with the SEC
on January 3, 2019 and March 28, 2019.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: -0.25in"><I>&nbsp;</I></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD STYLE="text-align: justify">Our Preliminary Proxy Statement on Schedule 14A filed
on April 11, 2019, solely to the extent incorporated by reference in our Annual Report on Form 10-K for the year ended December
31, 2018.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: -0.25in"><I>&nbsp;</I></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD STYLE="text-align: justify">Our Definitive Proxy Statement on Schedule 14A filed
on April 25, 2019, solely to the extent incorporated by reference in our Annual Report on Form 10-K for the year ended December
31, 2018.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: -0.25in"><I>&nbsp;</I></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD STYLE="text-align: justify">The description of our common stock contained in our
Registration Statement on Form 8-A filed under the Exchange Act, as filed on March 20, 2017 (File No. 001-38037), including any
amendment or report filed for the purpose of updating such description.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In addition, we
also incorporate by reference all documents we file under Section 13(a), 13(c), 14 or 15(d) of the Exchange Act prior to the termination
of this offering, including all such documents we may file with the SEC after the date of this prospectus supplement and accompanying
prospectus, but excluding any information furnished to, rather than filed with, the SEC, including, without limitation, any information
furnished under Item 2.02 and Item 7.01 of any Current Report on Form 8-K. The information contained in these future filings will
automatically update and supersede the information contained in this prospectus supplement, the accompanying prospectus, or incorporated
by reference to any previously filed document.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Any statement contained
in a document incorporated by reference herein shall be deemed to be modified or superseded for all purposes to the extent that
a statement contained in this prospectus, or in any other subsequently filed document which is also incorporated or deemed to be
incorporated by reference, modifies or supersedes such statement. Any statement so modified or superseded shall not be deemed,
except as so modified or superseded, to constitute a part of this prospectus.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">This prospectus
supplement and the accompanying prospectus are part of a registration statement on Form S-3 we filed with the SEC under the Securities
Act. As permitted by the rules and regulations of the SEC, this prospectus does not contain all of the information set forth or
incorporated by reference in the registration statement and the exhibits and schedules that were filed with it. The statements
contained in this prospectus supplement as to the contents of any contract or any other document are not necessarily complete.
We qualify any statement by reference to the copy of the contract or document filed as an exhibit to the registration statement.
If you would like a copy of any document incorporated in this prospectus supplement by reference (other than exhibits unless these
exhibits are specifically incorporated by reference in a document), you may request, orally or in writing, a copy of these filings,
which will be provided to you at no cost, by contacting our investor relations department at our principal executive offices, which
are located at 195 Montague Street, 14th Floor, Brooklyn, NY 11201, Attention: Investor Relations, Telephone: (646) 240-4235.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We have not authorized
any dealer, salesperson or other individual to give any information or to make any representation not contained or incorporated
by reference in this prospectus supplement. If you receive any of that kind of information or if any of those types of representations
are made to you, you must not rely on the information or representations as having been authorized by the Company. Also, you must
not consider that the delivery of this prospectus supplement or any sale made under it implies that the affairs of the Company
have remained unchanged since the date of this prospectus supplement, or that the information contained in this prospectus supplement
is correct or complete as of any time after the date of this prospectus supplement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">This prospectus
supplement does not constitute an offer to sell or a solicitation of an offer to buy any securities covered by this prospectus
supplement to any person in any jurisdiction in which this offer or solicitation is unlawful.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>


<!-- Field: Page; Sequence: 8; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="margin-top: 0pt; text-align: center; margin-bottom: 0pt">S-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->5<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"><A HREF="#toc">Table of Contents</A>&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;<B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><A NAME="ps_007"></A>USE OF PROCEEDS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We anticipate that
the net proceeds to us from this offering, after deducting placement agent fees and payment of offering expenses, will be approximately
$692,248. We intend to use the net proceeds from this offering primarily for working capital and general corporate purposes,
which may include, without limitation, engaging in acquisitions or other business combinations or investments, sales and marketing
activities, general and administrative matters and capital expenditures. We have not determined the amounts we plan to spend on
any specific purpose or the timing of these expenditures. As a result, our management will have broad discretion to allocate the
net proceeds from this offering.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We will only receive
additional proceeds from the exercise of the Warrants issuable in connection with the private placement if the Warrants are exercised
and the holders of such Warrants pay the exercise price in cash upon such exercise and do not utilize the cashless exercise provision
of the Warrants.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><A NAME="ps_008"></A>DILUTION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">If you purchase
shares of our common stock in this offering, your ownership interest will be diluted to the extent of the difference between the
public offering price per share and the as adjusted net tangible book value per share after giving effect to this offering. We
calculate net tangible book value per share by dividing the net tangible book value, which is tangible assets less total liabilities,
by the number of outstanding shares of our common stock. Dilution represents the difference between the portion of the amount per
share paid by purchasers of shares in this offering and the as adjusted net tangible book value per share of our common stock immediately
after giving effect to this offering. Our net tangible book value as of December 31, 2018 was approximately $473,965, or $0.11
per share.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">After giving effect to
the sale of our common stock pursuant to this prospectus supplement and accompanying prospectus in the aggregate amount of 847,750
shares at an offering price of $1.10 per share, and after deducting commissions and estimated aggregate offering expenses payable
by us, our net tangible book value as of December 31, 2018 would have been $1,166,213, or $0.23 per share of common stock. This
represents an immediate increase in the net tangible book value of $0.12 per share to our existing stockholders and an immediate
dilution in net tangible book value of $0.87 per share to new investors. The following table illustrates this per share dilution:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.55in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 76%">Offering price per share</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 9%; text-align: right">&nbsp;</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 9%; text-align: right">1.10</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 0.125in">Net tangible book value per share as of December 31, 2018</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">0.11</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 0.25in; text-indent: -0.125in">Increase in net tangible value per share attributable to new investors</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">0.12</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -0.125in; padding-left: 0.125in">As adjusted net tangible book value per share as of December 31, 2018, after giving effect to this offering</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">0.23</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Dilution per share to new investors purchasing shares in this offering</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">0.87</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Dilution per share
to investors purchasing our common stock in this offering represents the difference between the price per share to be paid for
the shares sold by us in this offering and the as adjusted net tangible book value per share after giving effect to this offering.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The number of
shares of common stock to be outstanding after this offering is based on 4,260,041 shares of common stock outstanding as of April
24, 2019 and excludes, as of that date:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD STYLE="text-align: justify">847,750 shares of our common stock issuable upon the exercise of the warrants offered in the
                                                                    concurrent private placement;</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD STYLE="text-align: justify">84,775 shares of our common stock issuable upon the exercise of the warrants issuable to the
                                                                    placement agent in this offering; and</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD STYLE="text-align: justify">1,410,060 shares of our common stock issuable upon exercise of options and RSUs under our SG
                                                                    Blocks, Inc. Stock Incentive Plan.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Because there
is no minimum offering amount required as a condition to the closing of this offering, the dilution per share to new investors
may be more than that indicated above in the event that the actual number of shares sold, if any, is less than the maximum number
of shares of our common stock we are offering.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 38.15pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The above illustration
of dilution per share to investors participating in this offering assumes no exercise of outstanding options to purchase our common
stock or warrants to purchase shares of our common stock that will be outstanding after this offering. The exercise of outstanding
options and warrants that will be outstanding after this offering having an exercise price less than the offering price will increase
dilution to new investors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In addition, we
may choose to raise additional capital due to market conditions or strategic considerations, even if we believe we have sufficient
funds for our current or future operating plans. To the extent that additional capital is raised through the sale of equity or
convertible debt securities, the issuance of these securities could result in further dilution to our stockholders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.55in">&nbsp;</P>


<!-- Field: Page; Sequence: 9; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="margin-top: 0pt; text-align: center; margin-bottom: 0pt">S-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->6<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"><A HREF="#toc">Table of Contents</A>&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><A NAME="ps_009"></A>DIVIDEND POLICY</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We have never declared
or paid any cash dividends on our capital stock, and we do not currently intend to pay any cash dividends on our common stock for
the foreseeable future. We expect to retain future earnings, if any, to fund the development and growth of our business. Any future
determination to pay dividends on our common stock will be at the discretion of our board of directors and will depend upon, among
other factors, our results of operations, financial condition, capital requirements, any restrictions imposed by applicable law
and any other factors our board of directors deem relevant.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>


<!-- Field: Page; Sequence: 10; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="margin-top: 0pt; text-align: center; margin-bottom: 0pt">S-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->7<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"><A HREF="#toc">Table of Contents</A>&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><A NAME="ps_010"></A>PLAN OF DISTRIBUTION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Pursuant
to a placement agent agreement, dated April 25, 2019, we have engaged Roth Capital Partners, LLC, which we refer to as the &ldquo;placement
agent,&rdquo; to act as our exclusive placement agent in connection with this offering of our shares of common stock pursuant to
this prospectus supplement and accompanying prospectus. Under the terms of the placement agent agreement, the placement agent has
agreed to be our exclusive placement agent, on a reasonable best efforts basis, in connection with the issuance and sale by us
of our shares of common stock pursuant to this prospectus supplement and accompanying prospectus. The terms of this offering were
subject to market conditions and negotiations between us, the placement agent and prospective investors. The placement agent agreement
does not give rise to any commitment by the placement agent to purchase any of our shares of common stock or warrants and the placement
agent will have no authority to bind us by virtue of the placement agent agreement. Further, the placement agent does not guarantee
that it will be able to raise new capital in any prospective offering. The placement agent may engage sub-agents or selected dealers
to assist with the offering.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We will enter into
a securities purchase agreements directly with investors in connection with this offering, and we will only sell to investors who
have entered into a securities purchase agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We expect to deliver
the shares of our common stock being offered pursuant to this prospectus supplement on or about April 29, 2019.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The placement agent
and an affiliate of the placement agent have purchased an aggregate of $466,262.50 of shares for their accounts at the public offering
price in this offering.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We have agreed
to pay the placement agent a total cash fee equal to 7.0% of the gross proceeds received by us from the sale of securities at the
closing of this offering. We have also agreed to reimburse the placement agent at closing for expenses incurred by it in connection
with the offering of $50,000. In addition, we have granted a right of first refusal to the placement agent to act as lead underwriter
or exclusive placement agent in connection with any public or private offerings of our securities for a period of six months following
the termination of our engagement of the placement agent.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In addition, we
have agreed to issue to the placement agent warrants to purchase up to 10.0% of the aggregate number of shares of common stock
sold in this offering, which placement agent warrants shall be issued in two series of warrants (50% of the placement agent warrants
in each series) and the second series of placement agent warrants shall vest ratably upon the exercise of the first series of placement
agent warrants. The placement agent warrants will have substantially the same terms as the warrants issued to the investors in
this offering, except that the exercise price will be $1.375 per share, or 125% of the public offering price per share, and the
termination date of the placement agent warrants shall be April 24, 2024. Pursuant to FINRA Rule 5110(g), the placement agent warrants
and any shares issued upon exercise of the placement agent warrants shall not be sold, transferred, assigned, pledged, or hypothecated,
or be the subject of any hedging, short sale, derivative, put or call transaction that would result in the effective economic disposition
of the securities by any person for a period of 180 days immediately following the date of effectiveness or commencement of sales
of this offering, except the transfer of any security: (i) by operation of law or by reason of our reorganization; (ii) to any
FINRA member firm participating in the offering and the officers or partners thereof, if all securities so transferred remain subject
to the lock-up restriction set forth above for the remainder of the time period; (iii) if the aggregate amount of our securities
held by the placement agent or related persons do not exceed 1% of the securities being offered; (iv) that is beneficially owned
on a pro-rata basis by all equity owners of an investment fund, provided that no participating member manages or otherwise directs
investments by the fund and the participating members in the aggregate do not own more than 10% of the equity in the fund; or (v)
the exercise or conversion of any security, if all securities remain subject to the lock-up restriction set forth above for the
remainder of the time period. The placement agent warrants and the shares issuable thereunder are not registered pursuant to this
prospectus supplement and accompanying prospectus.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We estimate the
total expenses payable by us for this offering will be approximately $125,000, which amount excludes the placement agent&rsquo;s
fees and expenses. <FONT STYLE="font-family: Times New Roman, Times, Serif">The following table shows the per share and total cash
placement agent&rsquo;s fees we will pay to the placement agent in connection with the sale of the shares of our common stock offered
pursuant to this prospectus supplement and the accompanying prospectus, assuming the purchase of all of the shares offered hereby.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif"></FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; border-bottom: Black 1.5pt solid">Name</TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Per Share</TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Total</TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 76%; text-indent: -10pt; padding-left: 10pt">Public offering price</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 9%; text-align: right">1.10</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 9%; text-align: right">932,525</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -10pt; padding-left: 10pt">Placement agent fees</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">0.077</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">65,277</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -10pt; padding-left: 10pt">Proceeds, before expenses, to us</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">1.023</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">867,248</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

<!-- Field: Page; Sequence: 11; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="margin-top: 0pt; text-align: center; margin-bottom: 0pt">S-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->8<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"><A HREF="#toc">Table of Contents</A>&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We have agreed
to indemnify the placement agent and specified other persons against some civil liabilities, including, without limitation liabilities
caused by or arising out of any untrue statement of material fact contained in the Registration Statement or this Prospectus Supplement
or accompanying Prospectus or by any omission or alleged omission to state therein a material fact necessary to make the statements
therein not misleading.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The placement agent
may be deemed to be an underwriter within the meaning of Section 2(a)(11) of the Securities Act, and any commissions received by
it and any profit realized on the resale of the securities sold by it while acting as principal might be deemed to be underwriting
discounts or commissions under the Securities Act. As an underwriter, the placement agent would be required to comply with the
requirements of the Securities Act and the Exchange Act, including, without limitation, Rule 415(a)(4) under the Securities Act
and Rule 10b-5 and Regulation M under the Exchange Act. These rules and regulations may limit the timing of purchases and sales
of shares of common stock and warrants by the placement agent acting as principal. Under these rules and regulations, the placement
agent:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD STYLE="text-align: justify">may not engage in any stabilization activity in connection
with our securities; and</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: left">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD STYLE="text-align: justify">may not bid for or purchase any of our securities or
attempt to induce any person to purchase any of our securities, other than as permitted under the Exchange Act, until it has completed
its participation in the distribution.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The
form of securities purchase agreement is included as an exhibit to a Current Report on Form 8-K that we filed with the SEC and
that is incorporated by reference into the registration statement of which this prospectus supplement forms a part.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><A NAME="ps_011"></A>PRIVATE PLACEMENT OF WARRANTS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Concurrently with
the closing of the sale of shares of common stock in this offering, we also expect to issue and sell to the investors, warrants
to purchase up to a number of shares of our common stock equal to 100% of the shares issued to such purchasers pursuant to this
offering, at an exercise price per share of $1.375. Roth Capital Partners, LLC is also acting as a placement agent for the private
placement transaction described herein.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Each Warrant shall
be exercisable six (6) months from the date of issuance and have a term of exercise equal to five (5) years from the initial exercise
date. In accordance with the terms of the Warrants, a holder of Warrants will not have the right to exercise any portion of its
Warrants if the holder, together with its affiliates and any other persons acting as a group with the holder or any of the holder&rsquo;s
affiliates, would beneficially own in excess of 4.99% (or, at the election of the investor, 9.99%) of the number of shares of our
common stock outstanding immediately after giving effect to the issuance of shares of common stock issuable upon exercise of such
Warrants. A holder may increase or decrease the beneficial ownership limitation up to 9.99%, provided, however, that any increase
in the beneficial ownership limitation shall not be effective until 61 days following notice of such change to the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In the event of
a fundamental transaction (as defined in the Warrants), the holder has the right to receive, upon any subsequent exercise of the
Warrants, for each Warrant Share that would have been issuable upon such exercise immediately prior to the occurrence of the fundamental
transaction, at the option of the holder, the number of shares of common stock of the successor entity and any additional consideration
receivable as a result of such fundamental transaction by a holder of the number of shares of common stock for which such Warrant
is exercisable immediately prior to the fundamental transaction. Notwithstanding anything to the contrary, in the event of a fundamental
transaction, we or any successor entity shall, at the holder&rsquo;s option, purchase the holder&rsquo;s Warrants for an amount
of cash equal to the Black Scholes Value (as defined in the Warrants), provided that, if the fundamental transaction is not within
our control, including not approved by our Board of Directors, a holder shall only be entitled to receive the same type or form
of consideration at the Black Scholes Value of the unexercised portion of the Warrants, that is being offered and paid to the holders
of our common stock in connection with the fundamental transaction.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Such securities
will be issued and sold without registration under the Securities Act, or state securities laws, in reliance on the exemptions
provided by Section 4(a)(2) of the Act and/or Regulation D promulgated thereunder and in reliance on similar exemptions under applicable
state laws. Accordingly, the investor may exercise those warrants and sell the underlying shares only pursuant to an effective
registration statement under the Securities Act covering the resale of those shares, an exemption under Rule 144 under the Securities
Act, or another applicable exemption under the Securities Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>


<!-- Field: Page; Sequence: 12; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="margin-top: 0pt; text-align: center; margin-bottom: 0pt">S-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->9<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"><A HREF="#toc">Table of Contents</A>&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;<B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><A NAME="ps_012"></A>LEGAL MATTERS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The legality of
the issuance of the shares offered in this prospectus will be passed upon for us by Thompson Hine LLP, New York, New York. Ellenoff
Grossman &amp; Schole LLP, New York, New York, will act as counsel to the placement agent in connection with this offering.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><A NAME="ps_013"></A>EXPERTS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The consolidated
financial statements incorporated in this prospectus supplement and in the accompanying prospectus by reference to the Annual Report
on Form 10-K for the year ended December 31, 2018 have been so incorporated in reliance upon the report of Whitley Penn LLP, an
independent registered public accounting firm, given on the authority of such firm as experts in accounting and auditing.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<!-- Field: Page; Sequence: 13; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="margin-top: 0pt; text-align: center; margin-bottom: 0pt">S-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->10<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"><A HREF="#toc">Table of Contents</A>&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>PROSPECTUS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>$100,000,000</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><IMG SRC="img_001.jpg" ALT=""></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Common Stock</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Preferred Stock</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Debt Securities</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Warrants</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Units</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 39.65pt">We may offer and
sell up to $100 million in the aggregate of the securities identified above from time to time in one or more offerings. This prospectus
provides a general description of the securities that may be offered. We will provide specific information and the amounts, prices
and terms of the securities being offered in supplements to this prospectus. The supplements may also add, update or change information
in this prospectus. Please read this prospectus and any prospectus supplements and term sheets, together with any documents incorporated
by reference, carefully before investing. This prospectus may not be used to sell securities unless accompanied by a prospectus
supplement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 39.65pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 39.65pt">&nbsp;We may offer
these securities directly to investors, through agents, underwriters or dealers to be designated by us at a future date, on a continuous
or delayed basis. For additional information on the methods of sale, you should refer to the section titled &ldquo;Plan of Distribution&rdquo;
in this prospectus. Each prospectus supplement will provide the terms of the plan of distribution relating to each series of securities,
including the names of any underwriters, dealers or agents involved and any applicable purchase price, fee, commission or discount
arrangement between or among them.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 39.65pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>INVESTING IN OUR
SECURITIES INVOLVES RISKS. SEE &ldquo;RISK FACTORS&rdquo; ON PAGE 2 OF THIS PROSPECTUS AND ANY SIMILAR SECTION CONTAINED IN THE
APPLICABLE PROSPECTUS SUPPLEMENT CONCERNING FACTORS YOU SHOULD CONSIDER BEFORE INVESTING IN OUR SECURITIES. </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our common stock is
listed on the Nasdaq Capital Market under the symbol &ldquo;SGBX.&rdquo; On December 13, 2018, the last reported sale price of
our common stock on the Nasdaq Capital Market was $3.36 per share.&nbsp; &nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The
aggregate market value of our outstanding common stock held by non-affiliates is approximately $14,031,152, based on
4,260,041 shares of common stock outstanding, of which 4,175,938 shares are held by non-affiliates, and a per share value of
$3.36, based on the closing price of our common stock on the Nasdaq Capital Market on December 13, 2018. We have not offered
any securities pursuant to General Instruction I.B.6 of Form S-3 during the prior 12 calendar month period that ends on and
includes the date of this prospectus. Pursuant to General Instruction I.B.6 of Form S-3, in no event will we sell securities
registered on this registration statement in a public primary offering with a value exceeding more than one-third of our
public float in any 12-month period so long as our public float remains below $75.0 million.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 39.65pt"><B>NEITHER THE U.S.
SECURITIES AND EXCHANGE COMMISSION NOR ANY STATE SECURITIES COMMISSION HAS APPROVED OR DISAPPROVED OF THESE SECURITIES OR DETERMINED
IF THIS PROSPECTUS IS TRUTHFUL OR COMPLETE. ANY REPRESENTATION TO THE CONTRARY IS A CRIMINAL OFFENSE.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>The date of this prospectus is &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;,
2018.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>&nbsp;</B></P>


<!-- Field: Page; Sequence: 14 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"><A HREF="#toc">Table of Contents</A>&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>TABLE OF CONTENTS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="width: 91%; text-transform: uppercase; font-weight: bold"><FONT STYLE="font-family: Times New Roman, Times, Serif"><A HREF="#a_001">ABOUT THIS PROSPECTUS</A></FONT></TD>
    <TD STYLE="width: 9%; font-weight: bold; text-align: center">ii</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-transform: uppercase; font-weight: bold">&nbsp;</TD>
    <TD STYLE="text-transform: uppercase; font-weight: bold; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-transform: uppercase; font-weight: bold"><FONT STYLE="font-family: Times New Roman, Times, Serif"><A HREF="#a_002">PROSPECTUS SUMMARY</A></FONT></TD>
    <TD STYLE="text-transform: uppercase; font-weight: bold; text-align: center">1</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-transform: uppercase; font-weight: bold">&nbsp;</TD>
    <TD STYLE="text-transform: uppercase; font-weight: bold; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-transform: uppercase; font-weight: bold"><A HREF="#a_003">Risk Factors</A></TD>
    <TD STYLE="text-transform: uppercase; font-weight: bold; text-align: center">2</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-transform: uppercase; font-weight: bold">&nbsp;</TD>
    <TD STYLE="text-transform: uppercase; font-weight: bold; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-transform: uppercase; font-weight: bold"><FONT STYLE="font-family: Times New Roman, Times, Serif"><A HREF="#a_004">SPECIAL NOTE REGARDING FORWARD-LOOKING INFORMATION</A></FONT></TD>
    <TD STYLE="text-transform: uppercase; font-weight: bold; text-align: center">3</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-transform: uppercase; font-weight: bold">&nbsp;</TD>
    <TD STYLE="text-transform: uppercase; font-weight: bold; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-transform: uppercase; font-weight: bold"><FONT STYLE="font-family: Times New Roman, Times, Serif"><A HREF="#a_005">WHERE YOU CAN FIND MORE INFORMATION</A></FONT></TD>
    <TD STYLE="text-transform: uppercase; font-weight: bold; text-align: center">3</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-transform: uppercase; font-weight: bold">&nbsp;</TD>
    <TD STYLE="text-transform: uppercase; font-weight: bold; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-transform: uppercase; font-weight: bold"><A HREF="#a_006">INFORMATION INCORPORATED BY REFERENCE</A></TD>
    <TD STYLE="text-transform: uppercase; font-weight: bold; text-align: center">4</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-transform: uppercase; font-weight: bold">&nbsp;</TD>
    <TD STYLE="text-transform: uppercase; font-weight: bold; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-transform: uppercase; font-weight: bold"><A HREF="#a_007">USE OF PROCEEDS</A></TD>
    <TD STYLE="text-transform: uppercase; font-weight: bold; text-align: center">5</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-transform: uppercase; font-weight: bold">&nbsp;</TD>
    <TD STYLE="text-transform: uppercase; font-weight: bold; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-transform: uppercase; font-weight: bold"><A HREF="#a_008">DESCRIPTION OF CAPITAL STOCK</A></TD>
    <TD STYLE="text-transform: uppercase; font-weight: bold; text-align: center">6</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-transform: uppercase; font-weight: bold">&nbsp;</TD>
    <TD STYLE="text-transform: uppercase; font-weight: bold; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-transform: uppercase; font-weight: bold"><FONT STYLE="font-family: Times New Roman, Times, Serif"><A HREF="#a_009">DESCRIPTION OF DEBT SECURITIES</A></FONT></TD>
    <TD STYLE="text-transform: uppercase; font-weight: bold; text-align: center">9</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-transform: uppercase; font-weight: bold">&nbsp;</TD>
    <TD STYLE="text-transform: uppercase; font-weight: bold; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-transform: uppercase; font-weight: bold"><A HREF="#a_010">DESCRIPTION OF WARRANTS</A></TD>
    <TD STYLE="text-transform: uppercase; font-weight: bold; text-align: center">17</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-transform: uppercase; font-weight: bold">&nbsp;</TD>
    <TD STYLE="text-transform: uppercase; font-weight: bold; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-transform: uppercase; font-weight: bold"><FONT STYLE="font-family: Times New Roman, Times, Serif"><A HREF="#a_011">DESCRIPTION OF UNITS</A></FONT></TD>
    <TD STYLE="text-transform: uppercase; font-weight: bold; text-align: center">19</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-transform: uppercase; font-weight: bold">&nbsp;</TD>
    <TD STYLE="text-transform: uppercase; font-weight: bold; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-transform: uppercase; font-weight: bold"><FONT STYLE="font-family: Times New Roman, Times, Serif"><A HREF="#a_012">PLAN OF DISTRIBUTION</A></FONT></TD>
    <TD STYLE="text-transform: uppercase; font-weight: bold; text-align: center">20</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-transform: uppercase; font-weight: bold">&nbsp;</TD>
    <TD STYLE="text-transform: uppercase; font-weight: bold; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-transform: uppercase; font-weight: bold"><FONT STYLE="font-family: Times New Roman, Times, Serif"><A HREF="#a_013">LEGAL MATTERS</A></FONT></TD>
    <TD STYLE="text-transform: uppercase; font-weight: bold; text-align: center">21</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-transform: uppercase; font-weight: bold">&nbsp;</TD>
    <TD STYLE="text-transform: uppercase; font-weight: bold; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-transform: uppercase; font-weight: bold"><FONT STYLE="font-family: Times New Roman, Times, Serif"><A HREF="#a_014">EXPERTS</A></FONT></TD>
    <TD STYLE="text-transform: uppercase; font-weight: bold; text-align: center">21</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-weight: normal; text-transform: none">&nbsp;</FONT></P>


<!-- Field: Page; Sequence: 15; Options: NewSection; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="margin-top: 0pt; text-align: center; margin-bottom: 0pt"><!-- Field: Sequence; Type: LowerRoman; Name: PageNo -->i<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"><A HREF="#toc">Table of Contents</A>&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center"><FONT STYLE="text-transform: none">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-transform: uppercase; text-align: center"><FONT STYLE="text-transform: none"><A NAME="a_001"></A>ABOUT
THIS PROSPECTUS</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 39.65pt">This prospectus is
a part of a registration statement that we filed with the Securities and Exchange Commission (the &ldquo;SEC&rdquo;), utilizing
a &ldquo;shelf&rdquo; registration process. Under this shelf registration process, we may offer to sell the common stock, preferred
stock, debt securities, warrants and units described in this prospectus in one or more offerings up to a total aggregate offering
price of $100,000,000. In no event will we sell securities with a value exceeding more than one-third of our &ldquo;public float&rdquo;
(the aggregate market value of our outstanding common stock and any other equity securities that we may issue in the future that
are held by non-affiliates) in any 12-calendar month period so long as our public float remains below $75.0 million. In this prospectus,
we refer to the common stock, preferred stock, debt securities, warrants and units collectively as the &ldquo;securities&rdquo;.
This prospectus provides you with a general description of the securities we may offer. Each time we offer securities under this
shelf registration, we will provide a prospectus supplement that will contain specific information about the terms of that offering.
The prospectus supplement may also add, update or change information contained in this prospectus. To the extent that any statement
that we make in a prospectus supplement is inconsistent with statements made in this prospectus, the statements made in this prospectus
will be deemed modified or superseded by those made in the prospectus supplement. You should read both this prospectus and any
prospectus supplement, including all documents incorporated herein or therein by reference, together with additional information
described under &ldquo;Where You Can Find More Information&rdquo; and &ldquo;Information Incorporated by Reference.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 39.65pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 39.65pt">We have not authorized
any dealer, salesperson or other person to give any information or to make any representation other than those contained or incorporated
by reference in this prospectus and the accompanying prospectus supplement. You must not rely upon any information or representation
not contained or incorporated by reference in this prospectus or the accompanying prospectus supplement. This prospectus and the
accompanying prospectus supplement do not constitute an offer to sell or the solicitation of an offer to buy any securities other
than the registered securities to which they relate, nor do this prospectus and the accompanying prospectus supplement constitute
an offer to sell or the solicitation of an offer to buy securities in any jurisdiction to any person to whom it is unlawful to
make such offer or solicitation in such jurisdiction. You should not assume that the information contained in this prospectus and
the accompanying prospectus supplement is accurate on any date subsequent to the date set forth on the front of the document or
that any information we have incorporated by reference is correct on any date subsequent to the date of the document incorporated
by reference even though this prospectus and any accompanying prospectus supplement is delivered or securities are sold on a later
date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 39.65pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 39.65pt">Unless otherwise
indicated in the applicable prospectus supplement or pricing supplement, neither we nor any applicable underwriters have taken
any action that would permit us to publicly sell these securities in any jurisdiction outside the United States. If you are an
investor outside the United States, you should inform yourself about and comply with any restrictions as to the offering and sale
of the securities and the distribution of this prospectus.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 39.65pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 39.65pt">Unless the context
otherwise requires, the terms &ldquo;SG Blocks,&rdquo; the &ldquo;Company,&rdquo; &ldquo;we,&rdquo; &ldquo;us&rdquo; and &ldquo;our&rdquo;
refer to SG Blocks, Inc. and not to any of its existing or future subsidiaries.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 39.65pt">&nbsp;</P>


<!-- Field: Page; Sequence: 16; Options: NewSection; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="margin-top: 0pt; text-align: center; margin-bottom: 0pt"><!-- Field: Sequence; Type: LowerRoman; Name: PageNo -->ii<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"><A HREF="#toc">Table of Contents</A>&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<DIV STYLE="padding: 5pt; border: Black 1.5pt solid; width: 97%">

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B><A NAME="a_002"></A>PROSPECTUS SUMMARY</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>This summary highlights
information contained elsewhere, or incorporated by reference, in this prospectus. As a result, it does not contain all the information
that may be important to you. To understand this offering fully, you should read this entire prospectus carefully, including the
risk factors under the section entitled &ldquo;Risk Factors&rdquo; and the documents incorporated by reference into this prospectus.
</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>Our Business</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify"><I>References in this section to the &ldquo;Company,&rdquo;
&ldquo;we,&rdquo; &ldquo;us&rdquo; and &ldquo;our&rdquo; refer to SG Blocks, Inc. and our consolidated subsidiaries.</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Company is in the
business of modifying cargo shipping containers and purpose-built modules for use in construction. We provide two main products,
both of which are used to meet the growing demand for safe and green commercial, industrial and residential building construction.
SG Blocks&trade; are code engineered cargo shipping containers that the Company modifies for use in construction. Rather than consuming
new steel and lumber, SG Blocks&trade; capitalize on the structural engineering and design parameters a shipping container must
meet and repurposes them for use in building. These products offer the construction industry a safer, greener, faster, longer lasting
and more economical alternative to conventional construction methods. The Company also provides purpose-built modules, which are
prefabricated steel modular units created specifically for use in modular construction and which maintain the interlocking and
intermodal functionality of shipping containers. We sell our products primarily to customers in the multi-family housing, restaurant,
military, education industries throughout the United States.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 48pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We were incorporated
in the State of Delaware in 1993. Our principal executive offices are located at 195 Montague Street, 14th Floor, Brooklyn, NY
11201, and our telephone number is (646) 240-4235. Our website address is www.sgblocks.com. The information contained on, or accessible
through, our website is not part of this prospectus or any prospectus supplement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;SG Blocks&trade;&rdquo;,
GreenSteel and the SG logo are our trademarks. All other trademarks and service marks appearing in this prospectus are the property
of their respective owners.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>The Offering</B>&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="width: 40%; font-weight: bold; text-align: left; text-transform: uppercase; padding-right: 0; padding-left: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-weight: normal; text-transform: none"><I>Securities
offered pursuant to this prospectus</I></FONT></TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 58%; padding-right: 0; padding-left: 0">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We may offer and sell from time to time
        up to an aggregate of $100 million of any of, or units comprised of, or other combinations of, the following securities:</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&#9679;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-family: Times New Roman, Times, Serif"><I>Common
        Stock</I>. We may issue shares of our common stock. Subject to the prior rights of any class or series of preferred stock which
        may from time to time be outstanding, if any, holders of our common stock are entitled to receive dividends ratably when, as, and
        if declared by our Board of Directors. Holders of common stock are entitled to one vote per share, and do not have cumulative voting
        rights in the election of directors.</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&#9679;<FONT STYLE="font-family: Times New Roman, Times, Serif"><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Preferred
        Stock</I>. We may issue shares of our preferred stock in one or more series. Our Board of Directors will determine the dividend,
        voting, conversion and other rights of the series of preferred stock being offered.</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&#9679;<FONT STYLE="font-family: Times New Roman, Times, Serif"><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Debt
        Securities</I>. We may offer debt securities, which may be secured or unsecured, senior, senior subordinated or subordinated, may
        be guaranteed by our subsidiaries, and may be convertible into shares of our common stock. We may issue debt securities either
        separately or together with, upon conversion of or in exchange for other securities.</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&#9679;<FONT STYLE="font-family: Times New Roman, Times, Serif"><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Warrants</I>.
        We may issue warrants to purchase shares of common stock, preferred stock and/or debt securities of the Company. We may issue warrants
        independently or together with other securities.</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&#9679;<FONT STYLE="font-family: Times New Roman, Times, Serif"><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Units</I>.
        We may also issue units comprised of one or more of the other securities described in this prospectus in any combination. Each
        unit will be issued so that the holder of the unit is also the holder of each security included in the unit. Thus, the holder of
        a unit will have the rights and obligations of a holder of each included security.</FONT></P></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="font-weight: bold; text-align: left; text-transform: uppercase; padding-right: 0; padding-left: 0">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 0; padding-left: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: 0; padding-left: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Use of proceeds</I></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 0; padding-left: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We anticipate that the net proceeds from the sale of the securities that we may offer under this prospectus and any accompanying prospectus supplement will be used primarily for working capital and general corporate purposes. Please see &ldquo;Use of Proceeds&rdquo; below.&nbsp;&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="padding-right: 0; padding-left: 0">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 0; padding-left: 0; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: 0; padding-left: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Risk factors</I></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 0; padding-left: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Investing in our common stock involves substantial risk. For a discussion of risks relating to us, our business and an investment in our common stock that you should consider before investing in our common stock, see &ldquo;Risk Factors&rdquo; below and all other information set forth in this prospectus.</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="padding-right: 0; padding-left: 0">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 0; padding-left: 0; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: 0; padding-left: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Nasdaq symbol</I></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 0; padding-left: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">SGBX</FONT></TD></TR>
</TABLE>

</DIV>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>


<!-- Field: Page; Sequence: 17; Options: NewSection; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="margin-top: 0pt; text-align: center; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->1<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"><A HREF="#toc">Table of Contents</A>&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-transform: uppercase; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-transform: uppercase; text-align: center"><A NAME="a_003"></A>Risk Factors</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Investing in our securities
involves a high degree of risk. Before purchasing our securities, you should carefully consider the risks, uncertainties and forward-looking
statements described under &ldquo;Risk Factors&rdquo;
in Item 1A of our most recent Annual Report on Form 10-K for the fiscal year ended December 31, 2017, filed with the SEC on March
1, 2018, and each subsequently filed Quarterly Report on Form 10-Q, as well as all of the information in this prospectus and information
incorporated by reference into this prospectus, any applicable prospectus supplement or any free writing prospectus. If any of
these risks were to occur, our business, financial condition or results of operations could be materially and adversely affected.
In that event, the value of our securities could decline, and you could lose part or all of your investment. The risks and uncertainties
we describe are not the only ones facing us. Additional risks not presently known to us or that we currently deem immaterial may
also impair our business operations. In addition, our past financial performance may not be a reliable indicator of future performance,
and historical trends should not be used to anticipate results in the future.&nbsp;&nbsp;See &ldquo;Special Note Regarding Forward-Looking
Information&rdquo; below.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center">&nbsp;</P>


<!-- Field: Page; Sequence: 18; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="margin-top: 0pt; text-align: center; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->2<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"><A HREF="#toc">Table of Contents</A>&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-transform: uppercase; text-align: center"><A NAME="a_004"></A>SPECIAL
NOTE REGARDING FORWARD-LOOKING INFORMATION</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The SEC encourages
companies to disclose forward-looking information so that investors can better understand a company&rsquo;s future prospects and
make informed investment decisions. This prospectus contains such &ldquo;forward-looking statements&rdquo; within the meaning of
Section 27A of the Private Securities Litigation Reform Act of 1995. These statements may be made directly in this prospectus,
and they may also be made a part of this prospectus by reference to other documents filed with the SEC, which is known as &ldquo;incorporation
by reference.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Company cautions
that forward-looking statements involve risks and uncertainties, and actual results could differ materially from those expressed
or implied in these forward-looking statements or could affect the extent to which a particular objective, projection, estimate
or prediction is realized. Factors that could cause or contribute to such differences include, but are not limited to: general
economic and financial conditions; our ability to generate income, effectively manage our growth and realize our backlog; competition
in the markets in which we operate; the fluctuations in prices of the products we procure or distribute; availability of raw materials;
the consolidation of our industry; our ability to adapt our products and services to industry standards and consumer preferences;
our ability to expand into new geographic markets; product shortages and potential loss of relationships with key suppliers or
subcontractors; the seasonality of the commercial and residential construction markets; the loss or potential loss of any significant
customers; exposure to product liability and various other claims and litigation; our ability to attract and retain key employees;
the credit risk from our customers; our ability to obtain additional financing on acceptable terms, if at all, or to obtain additional
capital in other ways; an impairment of our goodwill; the impact of federal, state and local regulations, including changes to
export laws and tax regulations; the cost of compliance with environmental, health and safety laws and other local building regulations;
a disruption or breach in our information technology systems; natural or man-made disruptions to our facilities and project sites;
our ability to comply with the requirements of being a public company, including Nasdaq Capital Market listing requirements; fluctuations
in the price of our common stock, including decreases in price due to sales of significant amounts of stock; and other factors
discussed in &ldquo;Risk Factors&rdquo; and elsewhere in this prospectus, as well as in our other filings with the SEC. In some
cases, you can identify forward-looking statements by terminology such as &ldquo;may,&rdquo; &ldquo;will,&rdquo; &ldquo;should,&rdquo;
&ldquo;expects,&rdquo; &ldquo;intends,&rdquo; &ldquo;plans,&rdquo; &ldquo;anticipates,&rdquo; &ldquo;believes,&rdquo; &ldquo;estimates,&rdquo;
&ldquo;predicts,&rdquo; &ldquo;potential&rdquo; or &ldquo;continue&rdquo; or the negative of these terms or other comparable terminology.
These statements are subject to business and economic risk and reflect management&rsquo;s current expectations, and involve subjects
that are inherently uncertain and difficult to predict.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In light of these
assumptions, risks and uncertainties, the results and events discussed in the forward-looking statements contained in this prospectus
or in any document incorporated by reference might not occur. Investors are cautioned not to place undue reliance on the forward-looking
statements, which speak only as of the date of this prospectus or the date of the document incorporated by reference in this prospectus.
We are not under any obligation, and we expressly disclaim any obligation, to update or alter any forward-looking statements, whether
as a result of new information, future events or otherwise.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-transform: uppercase; text-align: center"><A NAME="a_005"></A>WHERE YOU
CAN FIND MORE INFORMATION</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We are a public company
and file annual, quarterly and current reports, proxy statements and other information with the SEC. The SEC maintains an internet
site that contains reports, proxy and information statements, and other information regarding issuers that file electronically
with the SEC, at www.sec.gov. Our SEC filings are also available to the public on our website at www.sgblocks.com. The information
contained on, or accessible through, our website is not part of this prospectus or any prospectus supplement. In addition, our
common stock is listed for trading on the Nasdaq Capital Market under the symbol &ldquo;SGBX.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">This prospectus is
only part of a registration statement on Form S-3 that we have filed with the SEC under the Securities Act, and therefore omits
certain information contained in the registration statement. We have also filed exhibits and schedules with the registration statement
that are excluded from this prospectus, and you should refer to the applicable exhibit or schedule for a complete description of
any statement referring to any contract or other document. You may:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">inspect
a copy of the registration statement, including the exhibits and schedules, without charge at the public reference room,</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%">
<TR>
    <TD STYLE="width: 0.5in">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">obtain a copy from the SEC upon payment of the fees prescribed by the SEC, or</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%">
<TR>
    <TD STYLE="width: 0.5in">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">obtain a copy from the SEC&rsquo;s website or our website.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

<!-- Field: Page; Sequence: 19; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="margin-top: 0pt; text-align: center; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->3<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"><A HREF="#toc">Table of Contents</A>&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="text-transform: uppercase"><B><A NAME="a_006"></A>INFORMATION
INCORPORATED BY REFERENCE</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The SEC allows us
to &ldquo;incorporate by reference&rdquo; the information we file with it, which means that we can disclose important information
to you by referring you to other documents that we have filed separately with the SEC. The information incorporated by reference
is considered to be part of this prospectus, except for any information superseded by information contained directly in this prospectus,
and information we file later with the SEC will automatically be deemed to update and supersede this information. We incorporate
by reference the documents listed below and any future filings made with the SEC under Sections 13(a), 13(c), 14 or 15(d) of the
Securities Exchange Act of 1934, as amended (the &ldquo;Exchange Act&rdquo;) (excluding, in each case, any portions of such documents
that have been &ldquo;furnished&rdquo; but not &ldquo;filed&rdquo; for purposes of the Exchange Act). The documents we are incorporating
by reference as of their respective dates of filing are as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%">
<TR>
    <TD STYLE="vertical-align: top; width: 0.5in">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 0.25in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Our Annual Report on Form 10-K for the
        year ended December 31, 2017, filed with the SEC on March 1, 2018.</P>

</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: justify">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our Current Reports on Form 8-K filed with the SEC on January 26, 2018, February 6, 2018, April 17, 2018, June 5, 2018, July 30, 2018, August 7, 2018, and September 14, 2018.</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our Quarterly Reports on Form 10-Q for the quarter ended March 31, 2018, filed with the SEC on May 9, 2018, the quarter ended June 30, 2018, filed with the SEC on August 14, 2018, and the quarter ended September 30, 2018, filed with the SEC on November 14, 2018. </FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The description of our common stock contained in our Registration Statement on Form 8-A filed under the Exchange Act, as filed on March 20, 2017 (File No. 001-38037), including any amendment or report filed for the purpose of updating such description.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In addition, we also
incorporate by reference all documents we file under Section 13(a), 13(c), 14 or 15(d) of the Exchange Act (i) after the initial
filing date of the registration statement of which this prospectus is a part and before the effectiveness of the registration statement
and (ii) after the effectiveness of the registration statement and before the termination of the offering, with the exception of
any information furnished under Item 2.02 and Item 7.01 of any Current Report on Form 8-K, which is not deemed filed and which
is not incorporated by reference herein. The information contained in these future filings will automatically update and supersede
the information contained in this prospectus or incorporated by reference to any previously filed document.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Any statement contained
in a document incorporated by reference herein shall be deemed to be modified or superseded for all purposes to the extent that
a statement contained in this prospectus, or in any other subsequently filed document which is also incorporated or deemed to be
incorporated by reference, modifies or supersedes such statement. Any statement so modified or superseded shall not be deemed,
except as so modified or superseded, to constitute a part of this prospectus.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">This prospectus is
part of a registration statement we filed with the SEC under the Securities Act. As permitted by the rules and regulations of the
SEC, this prospectus does not contain all of the information set forth in the registration statement and the exhibits and schedules
that were filed with it. The statements contained in this prospectus as to the contents of any contract or any other document are
not necessarily complete. We qualify any statement by reference to the copy of the contract or document filed as an exhibit to
the registration statement. If you would like a copy of any document incorporated in this prospectus by reference (other than exhibits
unless these exhibits are specifically incorporated by reference in a document), you may request, orally or in writing, a copy
of these filings, which will be provided to you at no cost, by contacting our investor relations department at our principal executive
offices, which are located at 195 Montague Street, 14th Floor, Brooklyn, NY 11201, Attention: Investor Relations, Telephone: (646)
240-4235.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We have not authorized
any dealer, salesperson or other individual to give any information or to make any representation not contained or incorporated
by reference in this prospectus. If you receive any of that kind of information or if any of those types of representations are
made to you, you must not rely on the information or representations as having been authorized by the Company. Also, you must not
consider that the delivery of this prospectus or any sale made under it implies that the affairs of the Company have remained unchanged
since the date of this prospectus, or that the information contained in this prospectus is correct or complete as of any time after
the date of this prospectus.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">This prospectus and
any supplement to this prospectus do not constitute an offer to sell or a solicitation of an offer to buy any securities covered
by this prospectus to any person in any jurisdiction in which this offer or solicitation is unlawful.&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center"></P>

<!-- Field: Page; Sequence: 20; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="margin-top: 0pt; text-align: center; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->4<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"><A HREF="#toc">Table of Contents</A>&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-transform: uppercase; text-align: center"><A NAME="a_007"></A>USE OF PROCEEDS</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Unless otherwise
indicated in the applicable prospectus supplement, we anticipate that the net proceeds from the sale of the securities that we
may offer under this prospectus and any accompanying prospectus supplement will be used primarily for working capital and general
corporate purposes, which may include, without limitation, engaging in acquisitions or other business combinations or investments,
sales and marketing activities, general and administrative matters and capital expenditures. Pending use of the net proceeds, we
may invest them in capital preservation instruments, including interest-bearing securities. Additional information relating to
the use of net proceeds from the sale of securities covered by this prospectus will be set forth in prospectus supplements relating
to specific offerings.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

<!-- Field: Page; Sequence: 21; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="margin-top: 0pt; text-align: center; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->5<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"><A HREF="#toc">Table of Contents</A>&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-transform: uppercase; text-align: center"><A NAME="a_008"></A>DESCRIPTION OF CAPITAL STOCK</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The following summary
description of our capital stock is based on the applicable provisions of the General Corporation Law of the State of Delaware
(the &ldquo;DGCL&rdquo;), and on the provisions of our Amended and Restated Certificate of Incorporation, as amended (the &ldquo;Certificate
of Incorporation&rdquo;) and our Amended and Restated Bylaws (the &ldquo;Bylaws&rdquo;), and is qualified entirely by reference
to the applicable provisions of the DGCL, our Certificate of Incorporation and our Bylaws. For information on how to obtain copies
of such documents, please refer to the heading &ldquo;Where You Can Find More Information&rdquo; in this prospectus.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">As of the date of this
prospectus, we are authorized by our Certificate of Incorporation to issue an aggregate of (i) 300,000,000 shares of common stock,
par value $0.01 per share, and (ii) 5,405,010 shares of preferred stock, par value $1.00 per share. As of the date of this prospectus,
there were 4,260,041 shares of common stock issued and outstanding and zero shares of preferred stock outstanding.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Common Stock</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Holders of our common
stock are entitled to one vote for each share held of record on each matter submitted to a vote of stockholders, including the
election of directors, and do not have cumulative voting rights. Our directors are elected by a plurality of the votes cast by
the stockholders entitled to vote at our annual meeting of stockholders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Subject to the prior
rights of any class or series of preferred stock which may from time to time be outstanding, if any, holders of our common stock
are entitled to receive dividends ratably when, as and if declared by our Board of Directors, out of funds legally available for
that purpose and, upon our liquidation, dissolution or winding up, are entitled to share ratably in all assets remaining after
payment of liabilities and payment of accrued dividends and liquidation preferences on the preferred stock, if any. We have not
paid any dividends on our common stock and none are contemplated in the foreseeable future. We anticipate that all earnings that
may be generated from our operations will be used to finance our growth.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Holders of our common
stock have no preemptive, subscription or redemption rights pertaining to the common stock and have no rights to convert their
common stock into any other securities. The absence of preemptive rights could result in a dilution of the interest of the existing
stockholders should additional shares of common stock be issued. In addition, the rights of holders of our common stock are subject
to, and may be adversely affected by, the rights of holders of shares of any series of preferred stock that we may designate and
issue in the future. See &ldquo;Risk Factors&rdquo; for a further description of risks related to the common stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">All outstanding shares
of common stock are fully paid and non-assessable. Our common stock is traded on the Nasdaq Capital Market under the symbol &ldquo;SGBX.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Preferred Stock</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">No shares of preferred
stock are currently outstanding. Our Board of Directors has the authority, without further action by our stockholders, to designate
and issue up to 5,405,010 shares of preferred stock in one or more series, and to fix for each series voting rights, if any, designations,
preferences and relative, participating, optional or other special rights and such qualifications, limitations or restrictions
as provided in a resolution or resolutions adopted by our Board of Directors. Prior to the issuance of shares of each series, our
Board of Directors is required by the DGCL and our Certificate of Incorporation to adopt resolutions and file a certificate of
designation with the Secretary of State of the State of Delaware. The certificate of designation fixes for each class or series
the designations, powers, preferences, rights, qualifications, limitations and restrictions, which includes one or more of the
following:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">the number of shares constituting each
class or series;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">voting rights;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

<!-- Field: Page; Sequence: 22; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="margin-top: 0pt; text-align: center; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->6<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"><A HREF="#toc">Table of Contents</A>&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">rights and terms, including prices, of
redemption, including sinking fund provisions;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">dividend rights and rates;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">dissolution;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">terms concerning the distribution of assets;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">conversion or exchange terms;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">preemption rights; </FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">any restrictions on repurchase or redemption
of the shares by the Company; and</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">liquidation preferences.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Satisfaction of any
dividend preferences of outstanding preferred stock would reduce the amount of funds available for the payment of dividends, if
any, on the common stock. Also, holders of the preferred stock would normally be entitled to receive a preference payment in the
event of any liquidation, dissolution or winding up of the Company before any payment is made to the holders of common stock. In
addition, under certain circumstances, the issuance of preferred stock may render more difficult or tend to discourage a merger,
tender offer or proxy contest, the assumption of control by a holder of a large block of the Company&rsquo;s securities or the
removal of incumbent management. The Board of Directors, without stockholder approval, may issue preferred stock with voting and
conversion rights, which could adversely affect the holders of common stock. As a result of these or other factors, the issuance
of preferred stock could have an adverse impact on the market price of our common stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Anti-Takeover Effects of Delaware Law and Our Certificate
of Incorporation and Bylaws</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Certain provisions
of Delaware law, our Certificate of Incorporation and our Bylaws contain provisions that could have the effect of delaying, deferring
or discouraging another party from acquiring control of us. These provisions, which are summarized below, are expected to discourage
certain types of coercive takeover practices and inadequate takeover bids. These provisions are also designed, in part, to encourage
persons seeking to acquire control of us to first negotiate with our Board of Directors. We believe that the benefits of increased
protection of our potential ability to negotiate with an unfriendly or unsolicited acquirer outweigh the disadvantages of discouraging
such proposals, including proposals that are priced above the then-current market value of our common stock, because, among other
reasons, such negotiation could result in an improvement of the terms of such proposals.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>Certificate of Incorporation and Bylaws</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our Certificate of
Incorporation and our Bylaws include provisions that authorize our Board of Directors, without any action by our stockholders,
to designate and issue shares in such classes or series, including classes or series of preferred stock, as it deems appropriate
and to establish the rights, preferences and privileges of such shares, including dividends, liquidation and voting rights. Our
Certificate of Incorporation provides that our authorized capital consists of 305,405,010 shares of capital stock, of which 300,000,000
shares are designated as common stock and 5,405,010 shares are designated as preferred stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The rights of holders
of preferred stock and other classes of common stock that may be issued may be superior to the rights granted to the holders of
the existing classes of common stock. Further, the ability of the Board of Directors to designate and issue such designated shares
could impede or deter an unsolicited tender offer or takeover proposal regarding the Company and the issuance of additional shares
having preferential rights could adversely affect the voting power and other rights of holders of common stock. Issuance of preferred
stock, which may be accomplished through a public offering or a private placement, may dilute the voting power of holders of our
common stock, such as by issuing preferred stock with superior voting rights, and may render the removal of current management
more difficult, even if such removal may be in the stockholders&rsquo; best interests. Any such issuance of preferred stock could
prevent the holders of common stock from realizing a premium on their shares. See &ldquo;Description of Capital Stock &ndash; Preferred
Stock.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I></I></P>

<!-- Field: Page; Sequence: 23; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="margin-top: 0pt; text-align: center; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->7<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"><A HREF="#toc">Table of Contents</A>&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>Delaware Anti-Takeover Statute</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We are subject to the
provisions of Section 203 of the DGCL (&ldquo;Section 203&rdquo;) regulating corporate takeovers. In general, Section 203 prohibits
a publicly-held Delaware corporation from engaging, under certain circumstances, in a business combination with an interested stockholder
for a period of three years following the date the person became an interested stockholder unless:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">prior to the date of the transaction,
the board of directors of the corporation approved either the business combination or the transaction which resulted in the stockholder
becoming an interested stockholder;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">upon completion of the transaction that
resulted in the stockholder becoming an interested stockholder, the interested stockholder owned at least 85% of the voting stock
of the corporation outstanding at the time the transaction commenced, excluding for purposes of determining the voting stock outstanding,
the outstanding voting stock owned by the interested stockholder, (1) shares owned by persons who are directors and also officers
and (2) shares owned by employee stock plans in which employee participants do not have the right to determine confidentially whether
shares held subject to the plan will be tendered in a tender or exchange offer; or</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">at or subsequent to the date of the transaction,
the business combination is approved by the board of directors of the corporation and authorized at an annual or special meeting
of stockholders, and not by written consent, by the affirmative vote of at least 66 2/3% of the outstanding voting stock which
is not owned by the interested stockholder.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Generally, a business
combination includes a merger, asset, stock sale or other transaction resulting in a financial benefit to the interested stockholder.
An interested stockholder is a person who, together with affiliates and associates, owns or, within three years prior to the determination
of interested stockholder status, did own 15% or more of a corporation&rsquo;s outstanding voting stock. We expect the existence
of Section 203 to have an anti-takeover effect with respect to transactions our Board of Directors does not approve in advance.
We also anticipate that Section 203 may discourage business combinations or other attempts that might result in a premium over
the market price for the shares of common stock held by our stockholders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Transfer Agent and Registrar</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The transfer agent
and registrar for our common stock is American Stock Transfer and Trust Company, LLC. The transfer agent&rsquo;s address is 6201
15<SUP>th</SUP> Avenue, Brooklyn, NY 11219, and its telephone number is (800) 937-5449.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>


<!-- Field: Page; Sequence: 24; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="margin-top: 0pt; text-align: center; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->8<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"><A HREF="#toc">Table of Contents</A>&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center"><A NAME="a_009"></A>DESCRIPTION
OF DEBT SECURITIES</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The
following description summarizes the material terms and provisions of the debt securities that we may offer under this prospectus.
While the terms we have summarized below will apply generally to any future debt securities we may offer, we will describe the
particular terms of any debt securities that we may offer in more detail in the applicable prospectus supplement. If we so indicate
in a prospectus supplement, the terms of any debt securities we offer thereunder may differ from the terms we describe below.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The debt securities
will be issued under an indenture (the &ldquo;Indenture&rdquo;) between us and a trustee named in the prospectus supplement (the
&ldquo;Trustee&rdquo;). We may issue debt securities either separately, or together with, or upon the conversion or exercise of
or in exchange for, other securities described in this prospectus. Debt securities may be our senior, senior subordinated or subordinated
obligations and, unless otherwise specified in a prospectus supplement, the debt securities will be our direct, unsecured obligations
and may be issued in one or more series.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The following summary
of selected provisions of the Indenture is not complete and is qualified in its entirety by reference to the provisions of the
Indenture, which provisions are incorporated by reference in this prospectus. You should review the form of Indenture, which has
been filed as an exhibit to the registration statement of which this prospectus is a part. The terms of the debt securities include
those stated under the Indenture and those made part of the Indenture by reference to Trust Indenture Act of 1939, as amended (the
&ldquo;TIA&rdquo;). Capitalized terms used in the summary and not defined herein have the meanings specified in the Indenture.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>General </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Indenture does
not limit the amount of debt securities we may issue, and we may issue debt securities up to an aggregate principal amount as we
may authorize from time to time. The debt securities will be our unsecured obligations and will rank equally with all of our other
&nbsp;unsecured and unsubordinated debt from time to time outstanding. Our secured debt, if any, will be effectively senior to
the debt securities to the extent of the value of the assets securing such debt. As of the date of this prospectus, we have no
debt securities issued and outstanding. The debt securities will be exclusively our obligations and not of our subsidiaries, and,
therefore, the debt securities will be structurally subordinate to the debt and liabilities of our subsidiaries. The prospectus
supplement will describe the terms of any debt securities being offered, including:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">the
title;</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">any
limit upon the aggregate principal amount;</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">the
date or dates on which the principal is payable;</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">the
rate or rates (which may be fixed or variable) at which the debt securities shall bear interest, if any, or the method by which
such rate shall be determined;</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">the
date or dates from which interest shall accrue;</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">the
date or dates on which interest shall be payable;</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">the
record dates for the determination of holders to whom interest is payable;</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">the
right, if any, to extend the interest payment periods and the duration of such extension;</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">the
place or places where the principal and any interest shall be payable;</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">the
price or prices at which, the period or periods within which and the terms and conditions upon which debt securities may be redeemed;</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">our
obligation, if any, to redeem, purchase or repay the debt securities pursuant to any sinking fund or otherwise or at the option
of a holder thereof;</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">if
applicable, the price or prices at which and the period or periods within which and the terms and conditions upon which the debt
securities shall be redeemed, purchased or repaid, in whole or in part;</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 25; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="margin-top: 0pt; text-align: center; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->9<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"><A HREF="#toc">Table of Contents</A>&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">if
other than denominations of $2,000 and any multiple of $1,000 in excess thereof, the denominations in which the debt securities
of the series shall be issuable;</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">the
percentage of the principal amount at which the debt securities will be issued and, if other than the principal amount thereof,
the portion of such principal amount which shall be payable upon declaration of acceleration of the maturity thereof or provable
in bankruptcy;</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">whether
the debt securities are issuable as global securities and, in such case, the identity for the depositary;</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">any
deletion from, modification of or addition to the Events of Default (as defined below) or covenants;</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">any
provisions granting special rights to holders when a specified event occurs;</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">whether
and under what circumstances we will pay additional amounts on the debt securities held by a person who is not a U.S. person in
respect of any tax, assessment or governmental charge withheld or deducted;</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">any
special tax implications of the debt securities;</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">any
trustees, authenticating or paying agents, transfer agents or registrars or any other agents with respect to the debt securities;</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">any
guarantor or co-issuer;</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">any
special interest premium or other premium;</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">whether
the debt securities are convertible or exchangeable into common stock or other of our equity securities and the terms and conditions
upon which such conversion or exchange shall be effected; and</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">the
currency in which payments shall be made, if other than U.S. dollars.</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Limitation on Mergers and Other Transactions </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify">The Indenture provides that we may not merge
or consolidate with any other person or persons (whether or not affiliated with us), and we may not sell, convey, transfer, lease
or otherwise dispose of all or substantially all of our property or assets to any other person or persons (whether or not affiliated
with us), unless the following conditions are satisfied:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">either
(a)&nbsp;the transaction is a merger or consolidation, and we are the surviving entity; or (b)&nbsp;the successor person (or the
person which acquires by sale, conveyance, transfer or lease all or substantially all of our property or assets) is organized
under the laws of the United States, any state thereof or the District of Columbia and expressly assumes, by a supplemental indenture
satisfactory to the Trustee, all of our obligations under the debt securities and the Indenture;</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">immediately
after giving effect to the transaction and treating our obligations in connection with or as a result of such transaction as having
been incurred as of the time of such transaction, no Event of Default shall have occurred and be continuing under the Indenture;
and</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">an
officer&rsquo;s certificate and an opinion of counsel are delivered to the Trustee to the effect that the conditions set
forth above have been satisfied.</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The restrictions in the second and third
bullets above shall not be applicable to:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">our
merger or consolidation with an affiliate of ours if our Board of Directors determines in good faith that the purpose of such
transaction is principally to change our state of incorporation or convert our form of organization to another form; or</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">our
merger with or into a single one of our direct or indirect wholly-owned subsidiaries pursuant to Section&nbsp;251(g) (or any successor
provision) of the DGCL.</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

<!-- Field: Page; Sequence: 26; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="margin-top: 0pt; text-align: center; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->10<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"><A HREF="#toc">Table of Contents</A>&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify">In the case of any such consolidation, merger,
sale, transfer or other conveyance, but not a lease, in a transaction in which there is a successor entity, the successor entity
will succeed to, and be substituted for, us under the Indenture and, subject to the terms of the Indenture, we will be released
from the obligation to pay principal and interest on the debt securities and all obligations under the Indenture.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify">For purposes of the foregoing, if we consummate
a Holding Company Reorganization (as defined below), the newly formed holding company (New HoldCo, as defined below) shall be treated
as the &ldquo;successor person,&rdquo; and the Holding Company Reorganization shall constitute the transfer to New HoldCo of substantially
all of our assets; as such, we will be discharged from all obligations and covenants under the Indenture, and New HoldCo will be
the sole obligor on the debt securities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify">&ldquo;Holding Company Reorganization&rdquo;
shall mean our merger with and into our newly formed wholly-owned, indirect subsidiary (&ldquo;MergerCo&rdquo;), all of the equity
interests of which shall be held by our newly formed wholly-owned, direct subsidiary (&ldquo;New HoldCo&rdquo;), all of the equity
interest of which shall be initially be held by us. Such merger shall be effected pursuant to Section&nbsp;251(g) (or any successor
provision) of the DGCL and shall not require the vote of our stockholders. Each of our shares of common stock shall be converted
into a right to receive one share of New HoldCo common stock, with identical terms and rights as our common stock immediately prior
to such conversion.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Reports to Holders </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify">The Indenture provides that any document
or report that we are required to file with the SEC pursuant to Section&nbsp;13 or 15(d) of the Exchange Act will be furnished
to the Trustee within 15 days after we file such document or report with the SEC.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Events of Default </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify">The following events are defined in the
Indenture as &ldquo;Events of Default&rdquo; with respect to debt securities:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify">(1) the failure to pay interest on any debt
securities when the same becomes due and payable and the Default continues for a period of 60 days;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify">(2) the failure to pay the principal (or
premium, if any) of any debt securities, when such principal becomes due and payable, at maturity, upon acceleration, upon redemption
or otherwise;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify">(3) a default in the performance, or breach,
of our obligations under the &ldquo;Limitation on Mergers and Other Transactions&rdquo; covenant described above;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify">(4) a default in the observance or performance
of any other covenant or agreement contained in the Indenture which default continues for a period of 60 days after we receive
written notice specifying the default (and demanding that such default be remedied) from the Trustee or the Holders of at least
a majority of the outstanding principal amount of each series of debt securities affected, voting together as a single class;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify">(5) (a)&nbsp;a failure to make any payment
at maturity on any of our Indebtedness (other than Indebtedness owing to any of our Subsidiaries) outstanding in an amount in excess
of $50.0 million or its foreign currency equivalent at the time and continuance of such failure to pay after any applicable grace
period, or (b)&nbsp;a default on any of our Indebtedness (other than Indebtedness owing to any of our Subsidiaries), which default
results in the acceleration of such Indebtedness in an amount in excess of $50.0 million or its foreign currency equivalent at
the time, without such Indebtedness having been discharged or the acceleration having been cured, waived, rescinded or annulled,
in the case of clause (a)&nbsp;or (b)&nbsp;above; provided, however, that if any failure, default or acceleration referred to in
clauses (a) or (b)&nbsp;ceases or is cured, waived, rescinded or annulled, then the Event of Default under the Indenture will be
deemed cured; or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify">(6) certain events of bankruptcy or insolvency
affecting us or any of our Significant Subsidiaries.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

<!-- Field: Page; Sequence: 27; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="margin-top: 0pt; text-align: center; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->11<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"><A HREF="#toc">Table of Contents</A>&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify">If an Event of Default (other than an Event
of Default specified in clause (6)&nbsp;above), shall occur and be continuing, the Trustee or the Holders of at least 25% of the
principal amount of each series of debt securities affected, voting together as a single class, may declare the principal of and
accrued interest on all such debt securities to be due and payable by notice in writing to us and the Trustee specifying the respective
Event of Default and that it is a &ldquo;notice of acceleration&rdquo;, and the same shall become immediately due and payable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify">If an Event of Default specified in clause
(6)&nbsp;above occurs and is continuing, then all unpaid principal of and premium, if any, and accrued and unpaid interest on all
debt securities shall automatically become due immediately and payable without any declaration or other act on the part of the
Trustee or any Holder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify">Notwithstanding the foregoing, the Indenture
provides that, at any time after a declaration of acceleration with respect to one or more series of debt securities as described
above, the Holders of a majority in principal amount of each series of debt securities affected, voting together as a single class,
may rescind and cancel such declaration of acceleration and its consequences if:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify">(1) the rescission would not conflict with
any judgment or decree;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify">(2) all existing Events of Default have
been cured or waived except nonpayment of principal or interest that has become due solely because of the acceleration;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify">(3) to the extent the payment of such interest
is lawful, interest on overdue installments of interest and overdue principal, which has become due otherwise than by such declaration
of acceleration, has been paid;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify">(4) we have paid the Trustee its reasonable
compensation and reimbursed the Trustee for its expenses, disbursements and advances; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify">(5) in the event of the cure or waiver of
an Event of Default of the type described in clause (6)&nbsp;of the description of Events of Default above, the Trustee shall have
received an officer&rsquo;s certificate and an opinion of counsel that such Event of Default has been cured or waived.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify">No such rescission shall affect any subsequent
Event of Default or impair any right consequent thereto.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify">The Holders of a majority in principal amount
of the debt securities of each series affected, voting together as a single class, may waive any existing default or Event of Default
under the Indenture, and its consequences, except a default in the payment of the principal of or interest on any debt securities
of a series.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify">The Holders may not enforce the Indenture
except as provided in the Indenture and under the TIA. Subject to the provisions of the Indenture relating to the duties of the
Trustee, the Trustee is under no obligation to exercise any of its rights or powers under the Indenture at the request, order or
direction of any of the Holders, unless such Holders have offered to the Trustee reasonable security or indemnity. Subject to all
provisions of the Indenture and applicable law, the Holders of a majority in aggregate principal amount of each series of debt
securities affected that is then outstanding, voting together as a single class, will have the right to direct the time, method
and place of conducting any proceeding for any remedy available to the Trustee or exercising any trust or power conferred on the
Trustee. Nothing in the Indenture shall impair the right of a Holder to institute suit for the enforcement of any payment of principal,
premium, if any, and interest on or with respect to the debt securities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify">We will be required to provide a certificate
to the Trustee, from our principal executive, financial or accounting officer or our treasurer, promptly upon any such officer
obtaining knowledge of any default or Event of Default (provided that such officers shall provide such certification at least annually
whether or not they know of any default or Event of Default) that has occurred and, if applicable, describe such default or Event
of Default and the status thereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B></B></P>

<!-- Field: Page; Sequence: 28; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="margin-top: 0pt; text-align: center; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->12<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"><A HREF="#toc">Table of Contents</A>&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>No Personal Liability of Directors, Officers, Employees,
Incorporator and Stockholders </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify">No director, officer, employee, incorporator,
agent, stockholder or affiliate of us or any of our Subsidiaries, as applicable, shall have any liability for any of our or our
Subsidiaries&rsquo; obligations under the debt securities or the Indenture or for any claim based on, in respect of, or by reason
of, such obligations or their creation. Each Holder of the debt securities, by accepting such security, waives and releases all
such liability. This waiver and release are part of the consideration for issuance of the debt securities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Legal Defeasance and Covenant Defeasance </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify">We may, at our option and at any time, elect
to have our obligations discharged with respect to the outstanding debt securities of a series (&ldquo;Legal Defeasance&rdquo;).
Such Legal Defeasance means that we shall be deemed to have paid and discharged the entire indebtedness represented by the outstanding
debt securities of a series, except for:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify">(1) the rights of Holders to receive payments
in respect of the principal of, premium, if any, and interest on the debt securities when such payments are due;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify">(2) our obligations with respect to the
debt securities concerning issuing temporary debt securities, registration of debt securities, mutilated, destroyed, lost or stolen
debt securities and the maintenance of an office or agency for payments;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify">(3) the rights, powers, trust, duties and
immunities of the Trustee and our obligations in connection therewith; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify">(4) the Legal Defeasance provisions of the
Indenture.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify">In addition, we may, at our option and at
any time, elect to have our obligations released with respect to certain covenants that are described in the Indenture (&ldquo;Covenant
Defeasance&rdquo;) and, thereafter, any omission to comply with such obligations shall not constitute a default or Event of Default
with respect to the applicable series of debt securities. In the event Covenant Defeasance occurs, certain events (not including
non-payment, bankruptcy, receivership, reorganization and insolvency events) described under &ldquo;&mdash;Events of Default&rdquo;
will no longer constitute an Event of Default with respect to the debt securities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify">In order to exercise either Legal Defeasance
or Covenant Defeasance with respect to the debt securities of a series:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify">(1) we must irrevocably deposit with the
Trustee, in trust, for the benefit of the Holders, cash in U.S. dollars, non-callable U.S. government obligations or a combination
thereof, in such amounts as will be sufficient, in the opinion of a nationally recognized investment bank, appraisal firm or firm
of independent public accountants, to pay the principal of, premium, if any, and interest on the debt securities on the stated
date for payment thereof or on the applicable redemption date, as the case may be;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(2) in the case of Legal Defeasance, we must deliver to the
Trustee an opinion of counsel reasonably acceptable to the Trustee confirming that, as a result of an Internal Revenue Service
ruling or a change in applicable federal income tax law, to the effect that the Holders of the applicable debt securities will
not recognize gain or loss for federal income tax purposes as a result of such Legal Defeasance and will be subject to federal
income tax on the same amounts, in the same manner and at the same times as would have been the case if such Legal Defeasance had
not occurred;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify"></P>

<!-- Field: Page; Sequence: 29; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="margin-top: 0pt; text-align: center; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->13<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"><A HREF="#toc">Table of Contents</A>&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify">(3) in the case of Covenant Defeasance,
we must deliver to the Trustee an opinion of counsel reasonably acceptable to the Trustee confirming that the Holders will not
recognize gain or loss for federal income tax purposes as a result of such Covenant Defeasance and will be subject to federal income
tax on the same amounts, in the same manner and at the same times as would have been the case if such Covenant Defeasance had not
occurred;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify">(4) no default or Event of Default shall
have occurred and be continuing with respect to the applicable debt securities then-outstanding on the date of such deposit (other
than a default or an Event of Default resulting from the borrowing of funds to be applied to such deposit and the grant of any
lien securing such borrowings);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify">(5) such Legal Defeasance or Covenant Defeasance
shall not result in a breach or violation of, or constitute a default under the Indenture (other than an Event of Default resulting
from the borrowing of funds to be applied to such deposit and the grant of any lien securing such borrowings) or any other material
agreement or instrument to which we or any of our Subsidiaries is a party or by which we or any our Subsidiaries is bound;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify">(6) we must deliver to the Trustee an officer&rsquo;s
certificate and an opinion of counsel, each stating that all conditions precedent provided for or relating to the Legal Defeasance
or the Covenant Defeasance have been complied with; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify">(7) certain other customary conditions precedent
are satisfied.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Satisfaction and Discharge </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify">The Indenture will be discharged and will
cease to be of further effect (except as to surviving rights or registration of transfer or exchange of the applicable series of
the debt securities, as expressly provided for in the Indenture) as to all outstanding debt securities of a series, when:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify">(1) either:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in; text-align: justify">(A) all of the applicable series
of the debt securities theretofore authenticated and delivered (except lost, stolen or destroyed debt securities which have been
replaced or paid and debt securities for whose payment money has theretofore been deposited in trust or segregated and held in
trust by us and thereafter repaid to us or discharged from such trust) have been delivered to the Trustee for cancellation; or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in; text-align: justify">(B) all of the applicable series
of debt securities not theretofore delivered to the Trustee for cancellation (1)&nbsp;have become due and payable, or (2)&nbsp;will
become due and payable within one year, or are to be called for redemption within one year, under arrangements satisfactory to
the Trustee for the giving of notice of redemption by the Trustee in our name and at our expense, and we have irrevocably deposited
or caused to be deposited with the Trustee funds in an amount sufficient to pay and discharge the entire indebtedness on the applicable
series of debt securities not theretofore delivered to the Trustee for cancellation, for principal of, premium, if any, and interest
on the applicable series of debt securities to the date of deposit, together with irrevocable instructions from us directing the
Trustee to apply such funds to the payment thereof at the applicable maturity or redemption date, as the case may be;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify">(2) we have paid all other sums then due
and payable under the Indenture; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify">(3) we have delivered to the Trustee an
officer&rsquo;s certificate and an opinion of counsel stating that all conditions precedent under the Indenture relating to the
satisfaction and discharge of the Indenture have been complied with.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B></B></P>

<!-- Field: Page; Sequence: 30; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="margin-top: 0pt; text-align: center; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->14<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"><A HREF="#toc">Table of Contents</A>&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Modification of the Indenture </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify">From time to time, we and the Trustee, without
the consent of the Holders, may amend the Indenture or the applicable series of debt securities for certain specified purposes,
including:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify">(1) to cure any ambiguity, defect or inconsistency;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify">(2) to provide for uncertificated debt securities
in addition to or in place of certificated debt securities;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify">(3) to comply with the provisions described
under &ldquo;Consolidation, Merger, Sale or Conveyance&rdquo; in the Indenture in the case of a merger or consolidation;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify">(4) to maintain the qualification of the
Indenture under the TIA;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify">(5) to evidence and provide for the acceptance
of appointment by a successor Trustee;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify">(6) to conform the text of the Indenture
or the terms of the debt securities to any provision of this &ldquo;Description of Debt Securities&rdquo; or other description
of the debt securities contained in the applicable prospectus supplement relating to the offer and sale of such debt securities;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify">(7) to establish the form or terms of the
debt securities of any series as permitted by the terms of the Indenture;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify">(8) to provide for the assumption by a successor
corporation, partnership, trust or limited liability company of our obligations under the Indenture, in each case in compliance
with the provisions thereof; or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify">(9) to make any change that would provide
any additional rights or benefits to the Holders of the debt securities (including to secure the debt securities, add guarantees
with respect thereto, to add to our covenants for the benefit of the Holders or to surrender any right or power conferred upon
us) or that does not adversely affect the legal rights under the Indenture of any Holder of the debt securities in any material
respect.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify">In formulating its opinion on such matters,
the Trustee will be entitled to rely on such evidence as it deems appropriate, including, without limitation, solely on an opinion
of counsel. Other modifications and amendments of the Indenture may be made with the consent of the Holders of a majority in aggregate
principal amount of all then-outstanding debt securities affected by such modification or amendment, voting together as a single
class, except that, without the consent of each Holder affected thereby, no amendment may:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify">(1) reduce the aggregate principal amount
of debt securities of any series at maturity whose Holders must consent to an amendment;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify">(2) reduce the rate of or change or have
the effect of changing the time for payment of interest, including defaulted interest, on any debt securities;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify">(3) reduce the principal of or change or
have the effect of changing the fixed maturity of any debt securities, or change the date on which any debt securities may be subject
to redemption or repurchase or reduce the redemption price therefor;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify">(4) make any debt securities payable in
currency other than that stated in the debt securities or change the place of payment of the debt securities from that stated in
the debt securities or in the Indenture;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify">(5) make any change in provisions of the
Indenture protecting the right of each Holder to receive payment of principal of and interest on such Holder&rsquo;s debt securities
on or after the due date thereof or to bring suit to enforce such payment, or permitting Holders of a majority in aggregate principal
amount of each series of debt securities affected to waive defaults or Events of Default;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify">(6) make any change in these amendment and
waiver provisions; or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify">(7) make any change to or modify the ranking
of the debt securities that would adversely affect the Holders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B></B></P>

<!-- Field: Page; Sequence: 31; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="margin-top: 0pt; text-align: center; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->15<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"><A HREF="#toc">Table of Contents</A>&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>The Trustee </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify">The Indenture provides that, except during
the continuance of an Event of Default, the Trustee will perform only such duties as are specifically set forth in the Indenture.
During the existence of an Event of Default, the Trustee will exercise such rights and powers vested in it by the Indenture, and
use the same degree of care and skill in their exercise, as a prudent person would exercise or use under the circumstances in the
conduct of its own affairs.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify">The Indenture and the provisions of the
TIA contain certain limitations on the rights of the Trustee, should it become a creditor of us, to obtain payments of claims in
certain cases or to realize on certain property received in respect of any such claim as security or otherwise. Subject to the
TIA, the Trustee will be permitted to engage in other transactions; provided that if the Trustee acquires any conflicting interest
as described in the TIA, it must eliminate such conflict or resign.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Unclaimed Funds </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify">All funds deposited with the Trustee or
any paying agent for the payment of principal, interest, premium or additional amounts in respect of the debt securities that remain
unclaimed for two years after the date upon which such amount became due and payable will be repaid to us upon our request. Thereafter,
any right of any Holder to such funds shall be enforceable only against us, and the Trustee and paying agents will have no liability
therefor.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Governing Law </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify">The Indenture and the debt securities for
all purposes shall be governed by and construed in accordance with the laws of the State of New York.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>


<!-- Field: Page; Sequence: 32; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="margin-top: 0pt; text-align: center; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->16<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"><A HREF="#toc">Table of Contents</A>&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="text-transform: uppercase"><B><A NAME="a_010"></A>DESCRIPTION
OF WARRANTS</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We may issue warrants
for the purchase of shares of common stock or preferred stock or of debt securities in one or more series. We may issue warrants
independently or together with other securities and the warrants may be attached to or separate from any offered securities. While
the terms summarized below will apply generally to any warrants that we may offer, we will describe the particular terms of any
series of warrants in more detail in the applicable prospectus supplement. The terms of any warrants offered trust under a prospectus
supplement may differ from the terms described below.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We will file as exhibits
to the registration statement of which this prospectus is a part, or will incorporate by reference from reports that we file with
the SEC, the form of warrant agreement, including a form of warrant certificate, that describes the terms of the particular series
of warrants we are offering before the issuance of the related series of warrants. The following summary of material provisions
of the warrants and the warrant agreements is subject to, and qualified in its entirety by reference to, all the provisions of
the warrant agreement and warrant certificate applicable to the particular series of warrants that we may offer under this prospectus.
We urge you to read the applicable prospectus supplements related to the particular series of warrants that we may offer under
this prospectus and the complete warrant agreements and warrant certificates that contain the terms of the warrants.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We will describe
in the applicable prospectus supplement the terms of the series of warrants being offered, including, but not limited to, the following:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">The offering price and aggregate number
of warrants offered;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -14.35pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">The currency for which the warrants may
be purchased; </FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">If applicable, the designation and terms
of the securities with which the warrants are issued and the number of warrants issued with each such security or each principal
amount of such security; </FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">In the case of warrants to purchase common
stock or preferred stock, the number of shares of common stock or preferred stock purchasable upon the exercise of one warrant
and the price at which these shares may be purchased upon such exercise;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -14.35pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">In the case of warrants to purchase debt
securities, the principal amount of debt securities purchasable upon exercise of one warrant and the price at, and currency in
which, this principal amount of debt securities may be purchased upon such exercise; </FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -14.35pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">If applicable, the date on and after which
the warrants and the related securities will be separately transferable;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -14.35pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">The effect of any merger, consolidation,
sale or other disposition of our business on the warrant agreements and the warrants;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -14.35pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">The terms of our rights to redeem the
warrants;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -14.35pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Any provisions for changes to or adjustments
in the exercise price or number of securities issuable upon exercise of the warrants;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -14.35pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">The dates on which the right to exercise
the warrants will commence and expire;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -14.35pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">The manner in which the warrant agreements
and warrants may be modified;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -14.35pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">A discussion of any material U.S. federal
income tax consequences of holding or exercising the warrants; </FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -14.35pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">The terms of the securities issuable upon
exercise of the warrants; and </FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Any other specific terms, preferences,
rights or limitations of or restrictions on the warrants.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<!-- Field: Page; Sequence: 33; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="margin-top: 0pt; text-align: center; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->17<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"><A HREF="#toc">Table of Contents</A>&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We have warrants to
purchase 86,250 shares of the Company&rsquo;s common stock outstanding. The terms of the warrants that we offer may or may not
have the same material terms as our currently outstanding warrants.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Before exercising
their warrants, holders of warrants will not have any of the rights of holders of the securities purchasable upon such exercise,
including:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">in the case of warrants to purchase common
stock or preferred stock, the right to receive dividends, if any, or, payments upon our liquidation, dissolution or winding up
or to exercise voting rights, if any; or</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 75.65pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">in the case of warrants to purchase debt
securities, the right to receive payments of principal of, or premium, if any, or interest on, the debt securities purchasable
upon exercise or to enforce covenants in the applicable indenture.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Each warrant will
entitle the holder to purchase the common stock, preferred stock and/or debt securities that we specify in the applicable prospectus
supplement at the exercise price that we describe in the applicable prospectus supplement. Holders of the warrants may exercise
the warrants at any time up to the specified time on the expiration date that we set forth in the applicable prospectus supplement.
After such time on the expiration date, unexercised warrants will become void.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Holders of the warrants
may exercise the warrants by delivering the warrant certificate representing the warrants to be exercised together with specified
information, and paying the required amount to the warrant agent in immediately available funds, as provided in the applicable
prospectus supplement. We will set forth in the warrant certificate and in the applicable prospectus supplement the information
that the holder of the warrant will be required to deliver to the warrant agent.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Upon receipt of the
required payment and the warrant certificate properly completed and duly executed at the corporate trust office of the warrant
agent or any other office indicated in the applicable prospectus supplement, we will issue and deliver the securities purchasable
upon such exercise. If fewer than all of the warrants represented by the warrant certificate are exercised, then we will issue
a new warrant certificate for the remaining amount of warrants. Additional information about the exercise of the warrants will
be specified in the applicable prospectus supplement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify">Unless we provide otherwise in the applicable
prospectus supplement, the warrants and warrant agreements will be governed by and construed in accordance with the laws of the
State of Delaware and the federal laws of the United States applicable therein.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>


<!-- Field: Page; Sequence: 34; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="margin-top: 0pt; text-align: center; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->18<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"><A HREF="#toc">Table of Contents</A>&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="text-transform: uppercase"><B><A NAME="a_011"></A>DESCRIPTION
OF UNITS</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We may, from time to
time, issue units comprised of one or more of the other securities that may be offered under this prospectus, in any combination.
Each unit will be issued so that the holder of the unit is also the holder of each security included in the unit. Thus, the holder
of a unit will have the rights and obligations of a holder of each included security. The unit agreement under which a unit is
issued will contain additional important terms and provisions of the units being offered, and may provide that the securities included
in the unit may not be held or transferred separately at any time, or at any time before a specified date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The following description,
together with the additional information included in any applicable prospectus supplement, summarizes the general features of the
units that we may offer under this prospectus. You should read any applicable prospectus supplement and any free writing prospectus
we may authorize to be provided to you related to the series of units being offered, in addition to the complete unit agreements
that contain the terms of the units. Specific unit agreements will contain additional important terms and provisions, and we will
file as an exhibit to the registration statement of which this prospectus is a part, or will incorporate by reference from reports
that we file with the SEC, the form of each unit agreement relating to units offered under this prospectus.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Any applicable prospectus
supplement will describe:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">the material terms of the units and of
the securities comprising the units, including whether and under what circumstances those securities may be held or transferred
separately;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 21pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">any material provisions relating to the
issuance, payment, settlement, transfer or exchange of the units or of the securities comprising the units; and</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: 21pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">any material provisions of the governing
unit agreement that differ from those described above.</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>


<!-- Field: Page; Sequence: 35; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="margin-top: 0pt; text-align: center; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->19<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"><A HREF="#toc">Table of Contents</A>&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-transform: uppercase; text-align: center"><A NAME="a_012"></A>PLAN OF
DISTRIBUTION</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We may sell the securities
offered by this prospectus in any one or more of the following ways from time to time:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">On any national securities exchange or
quotation service on which our securities may be listed at the time of sale, including the Nasdaq Capital Market; </FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Directly to investors in privately negotiated
transactions or through a specific bidding, auction, other process or otherwise;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">To investors through agents, or directly
to agents;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">To or through brokers or dealers, including
through ordinary brokerage transactions and transactions in which the broker-dealer solicits purchasers and through purchases by
a broker-dealer as a principal and resale by the broker-dealer for its account;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Through underwriters, broker-dealers,
agents, in privately negotiated transactions or any combination of these methods; </FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">To the public through underwriting syndicates
led by one or more managing underwriters;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">To one or more underwriters acting alone
for resale to investors or to the public;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Through short sales; </FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Through the writing or settlement of options
or other hedging transactions, whether through an options exchange or otherwise; </FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Through a combination of any such methods
of sale; or </FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">By any other method permitted pursuant
to applicable law.&nbsp;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The distribution
of the securities may be effected from time to time, in one or more transactions, at a fixed price or prices, which may be changed,
at market prices prevailing at the time or sale or at prices related to such prevailing market prices, or at negotiated prices,
as determined at the time of sale, or at prices determined as the applicable prospectus supplement specifies. The securities may
be sold through a rights offering, forward contracts or similar arrangements. In any distribution of subscription rights to stockholders,
if all of the underlying securities are not subscribed for, we may then sell the unsubscribed securities directly to third parties
or may engage the services of one or more underwriters, dealers or agents, including standby underwriters, to sell the unsubscribed
securities to third parties.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The prospectus supplement
will set forth the terms of the offering and the method of distribution and will identify any firms acting as underwriters, dealers
or agents in connection with the offering, including:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">The name or names of any underwriters,
dealers or agents;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">The purchase price of the securities and
the proceeds to us from the sale;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Any arrangements under which the underwriters
have the option to purchase additional securities from us;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Any underwriting discounts and other items
constituting compensation to underwriters, dealers or agents;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Any public offering price;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Any discounts or concessions allowed or
reallowed or paid to dealers; or</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Any securities exchange or market on which
the securities offered by the prospectus supplement may be listed.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Any underwritten
offering may be on a best efforts or a firm commitment basis.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.25in"></P>

<!-- Field: Page; Sequence: 36; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="margin-top: 0pt; text-align: center; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->20<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"><A HREF="#toc">Table of Contents</A>&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In connection with
the sale of the securities, underwriters, dealers or agents may be deemed to have received compensation from us in the form of
underwriting discounts or commissions and also may receive commissions from securities purchasers for whom they may act as agent.
Underwriters may sell the securities to or through dealers, and the dealers may receive compensation in the form of discounts,
concessions or commissions from the underwriters or commissions from the purchasers for whom they may act as agent.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We will provide in
the applicable prospectus supplement information regarding any underwriting discounts or other compensation that we pay to underwriters
or agents in connection with the securities offering, and any discounts, concessions or commissions that underwriters allow to
dealers. Underwriters, dealers and agents participating in the securities distribution may be deemed to be underwriters, and any
discounts and commissions they receive and any profit they realize on the resale of the securities may be deemed to be underwriting
discounts and commissions under the Securities Act. Underwriters and their controlling persons, dealers and agents may be entitled,
under agreements entered into with us, to indemnification against and contribution toward specific civil liabilities, including
liabilities under the Securities Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">There is currently
no market for any of the offered securities other than the common stock, which is listed on the Nasdaq Capital Market. Any common
stock sold pursuant to a prospectus supplement will be listed on the Nasdaq Capital Market. It is possible that one or more underwriters
may make a market in the securities, but such underwriters will not be obligated to do so and may discontinue any market making
at any time without notice. No assurance can be given as to the liquidity of, or the trading market for, any offered securities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In connection with
an offering, the underwriters may purchase and sell securities in the open market. These transactions may include short sales,
stabilizing transactions and purchases to cover positions created by short sales. Short sales involve the sale by the underwriters
of a greater number of securities than they are required to purchase in an offering. Stabilizing transactions consist of bids or
purchases made for the purpose of preventing or retarding a decline in the market price of the securities while an offering is
in progress. The underwriters also may impose a penalty bid. This occurs when a particular underwriter repays to the underwriters
a portion of the underwriting discount received by it because the underwriters have repurchased securities sold by or for the account
of that underwriter in stabilizing or short-covering transactions. These activities by the underwriters may stabilize, maintain
or otherwise affect the market price of the securities. As a result, the price of the securities may be higher than the price that
otherwise might exist in the open market. If these activities are commenced, they may be discontinued by the underwriters at any
time. Underwriters may engage in over-allotment. If any underwriters create a short position in the securities in an offering in
which they sell more securities than are set forth on the cover page of the applicable prospectus supplement, the underwriters
may reduce that short position by purchasing the securities in the open market.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We may also sell
the securities offered by this prospectus in &ldquo;at the market offerings&rdquo; within the meaning of Rule 415(a)(4) of the
Securities Act, to or through a market maker or into an existing trading market, on an exchange or otherwise. In addition, we may
enter into derivative transactions with third parties, or sell securities not covered by this prospectus to third parties in privately
negotiated transactions. If the applicable prospectus supplement so indicates, in connection with those derivatives, the third
parties may sell securities covered by this prospectus and the applicable prospectus supplement, including in short sale transactions.
If so, the third party may use securities pledged by us or others to settle those sales or to close out any related open borrowings
of common stock, and may use securities received from us in settlement of those derivatives to close out any related open borrowings
of our common stock. In addition, we may loan or pledge securities to a financial institution or other third party that in turn
may sell the securities using this prospectus and an applicable prospectus supplement. Such financial institution or other third
party may transfer its economic short position to investors in our securities or in connection with a concurrent offering of other
securities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Underwriters, dealers
or agents that participate in the offer of securities, or their affiliates or associates, may have engaged or engage in transactions
with and perform services for, us or our affiliates in the ordinary course of business for which they may have received or receive
customary fees and reimbursement of expenses.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center"><A NAME="a_013"></A>LEGAL MATTERS</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Unless otherwise indicated
in the applicable prospectus supplement, the legality of the issuance of the shares offered in this prospectus will be passed upon
for us by Thompson Hine LLP, New York, New York. Thompson Hine LLP may also provide opinions regarding certain other matters. If
legal matters in connection with offerings made pursuant to this prospectus are passed upon by counsel to underwriters, dealers
or agents, such counsel will be named in the prospectus supplement related to such offering.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center"><A NAME="a_014"></A>EXPERTS</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The consolidated financial
statements incorporated in this prospectus by reference to the Annual Report on Form 10-K for the year ended December 31, 2017
have been so incorporated in reliance upon the report of Whitley Penn LLP, an independent registered public accounting firm, given
on the authority of such firm as experts in accounting and auditing.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;&nbsp;</P>


<!-- Field: Page; Sequence: 37; Options: NewSection; Value: 21 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="margin-top: 0pt; text-align: center; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->21<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"><A HREF="#toc">Table of Contents</A>&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt"><IMG SRC="img_001.jpg" ALT=""></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">SG BLOCKS, INC.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">847,750 SHARES OF COMMON STOCK</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">PROSPECTUS SUPPLEMENT</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">April 25, 2019</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 16pt">Roth Capital
Partners</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>



<P STYLE="margin: 0"></P>

<!-- Field: Rule-Page --><DIV ALIGN="LEFT" STYLE="margin-top: 0; margin-bottom: 0"><DIV STYLE="font-size: 1pt; border-top: Black 1.5pt solid; width: 100%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="margin: 0"></P>



<P STYLE="margin: 0"></P>

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>2
<FILENAME>img_001.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 img_001.jpg
M_]C_X  02D9)1@ ! 0$ 8 !@  #_VP!#  $! 0$! 0$! 0$! 0$! 0$! 0$!
M 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0'_
MVP!# 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$!
M 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0'_P  1" "  (,# 2(  A$! Q$!_\0
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M953:8[@%E4PAC@?P*?#_ .)GB_P.;5=)O6FL!#!)-I%\SSZ;(%#%V2%R3"S
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M:I-'&O\ :'AZZ>.S\3:3.5#-#J6B32"]@\HY7SQ&89B0\;E"*_D[CKPJXPX
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M+X<TB-YFATS0-+M-(L83/(TLSQ6EC%#;I+-*S22R+$&=LERY8FNC$0"[ ?E
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MO='U/2-6TUI'M+QOSM_X)[_\%.OBA_P3T_X($?L/^!OV:OA[IGQ/_:]_:_\
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5[&><YY/4XY#8/'?CZ#I14E% S__9

end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
