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Subsequent Events
12 Months Ended
Dec. 31, 2020
Subsequent Events [Abstract]  
Subsequent Events
19.

Subsequent Events


Subsequent to December 31, 2020, the Company has received $703,437 in proceeds from the exercise of warrants to purchase an aggregate of 225,100 shares of its common stock.  

 

In addition, subsequent to December 31, 2020, the Company has formed SGB Development Corp. (“Development”). Development will provide real property development to low and moderate income housing. The projects for Development will be built by SG Echo. In addition, Development has entered into a contract to acquire and develop an approximately 7-acre site in Austin, Texas, which is expected to yield a maximum of 225 condo units.


The Company executed our option to acquire Echo’s real estate holdings in Durant, OK, consisting of a 19-acre site and all of its structures and we expect to close on the Echo site in the second quarter of 2021.