OLENOX INDUSTRIES INC. — fact timeline

OLENOX INDUSTRIES INC. entered into Cash Advance Agreement with Cedar Advance LLC valued at $710,500 (effective 2023-05-16).

“On May 16, 2023, SG Building Blocks, Inc. (“SG Building Blocks”), a wholly owned subsidiary of Safe & Green Holdings Corp.(the “Company”), entered into a Cash Advance Agreement (“Cash Advance Agreement”) with Cedar Advance LLC (“Cedar”) pursuant to which SG Building Blocks sold to Cedar $710,500 of its future receivables for a purchase price of $500,000, less underwriting fees and expenses paid, for net funds provided of $475,000.”

OLENOX INDUSTRIES INC. received a nasdaq deficiency notice notice regarding minimum bid price (rules 5550(a)(2), 5810(c)(3)(A)).

“May 17, 2023, Safe & Green Holdings Corp. (the “Company”) received written notice from the Listing Qualifications Department of The Nasdaq Stock Market LLC (“Nasdaq”) notifying the Company that for the preceding 30 consecutive business days (April 4, 2023 through May 16, 2023), the Company’s common stock did not maintain a minimum closing bid price of $1.00 (“Minimum Bid Price Requirement”) per share as required by Nasdaq Listing Rule 5550(a)(2). The notice has no immediate effect on the listing or trading of the Company’s common stock and the common stock will continue to trade on The Nasdaq”

OLENOX INDUSTRIES INC. reported financial results for the fiscal quarter ended March 31, 2023.

“On May 11, 2023, Safe & Green Holdings Corp., a Delaware corporation (the “Company”), issued a press release that included financial information for the fiscal quarter ended March 31, 2023.”

Patricia Kaelin was appointed as Chief Financial Officer at OLENOX INDUSTRIES INC..

“On May 1, 2023, the Company appointed Patricia Kaelin as the Company’s Chief Financial Officer and entered into an employment agreement with Patricia Kaelin (the “Employment Agreement”) to employ Ms. Kaelin in such capacity for an initial term of two (2) years.”

Yaniv Blumenfeld resigned as Director at OLENOX INDUSTRIES INC..

“In connection with his appointment to the SGDevCo board of directors, Mr. Blumenfeld resigned, effective as of April 28, 2023, from his position as a member of the Company’s Board.”

OLENOX INDUSTRIES INC. incurred loan of $5,000,000 at prime rate as published in the Wall Street Journal (currently 8.0%) plus five an maturing April 1, 2024.

“of Safe & Green Holdings Corp.(the “Company”), pursuant to a Loan Agreement, dated March 30, 2023 (the “Loan Agreement”), issued a promissory note, in the principal amount of $5,000,000 (the “LV Note”), secured by a Deed of Trust and Security Agreement, dated March 30, 2023 (the “Deed of Trust”) on DevCorp.’s Lake Travis project site in Lago Vista, Texas, a”

OLENOX INDUSTRIES INC. entered into Guaranty with Safe and Green Development Corporation valued at Guaranty of LV Note obligations (effective 2023-03-30).

“The LV Peninsula obligations under the LV Note have been guaranteed by SG DevCorp. pursuant to a Guaranty, dated March 30, 2023 (the “Guaranty”)”

OLENOX INDUSTRIES INC. entered into Mortgage with LV Peninsula Holding LLC valued at Mortgage on McLean site in Durant, Oklahoma (effective 2023-03-30).

“arch 31, 2023, LV Peninsula Holding LLC (“LV Peninsula”), a Texas limited liability company and wholly owned affiliate of”

OLENOX INDUSTRIES INC. entered into Assignment of Contract Rights with LV Peninsula Holding LLC valued at Assignment on Lake Travis and McLean sites (effective 2023-03-30).

“a related Assignment of Contract Rights, dated March 30, 2023 (“Assignment of Rights”), on DevCorp.’s Lake Travis project site in Lago Vista, Texas and McLean site in Durant, Oklahoma”

OLENOX INDUSTRIES INC. entered into Deed of Trust and Security Agreement with LV Peninsula Holding LLC valued at Security for LV Note on Lake Travis project site (effective 2023-03-30).

“secured by a Deed of Trust and Security Agreement, dated March 30, 2023 (the “Deed of Trust”) on DevCorp.’s Lake Travis project site in Lago Vista, Texas”

OLENOX INDUSTRIES INC. entered into Loan Agreement with LV Peninsula Holding LLC valued at $5,000,000 promissory note (effective 2023-03-31).

“Item 1.01. Entry into a Material Definitive Agreement. On March 31, 2023, LV Peninsula Holding LLC (“LV Peninsula”), a Texas limited liability company and wholly owned affiliate of Safe and Green Development Corporation (“DevCorp.”), a wholly owned subsidiary of Safe & Green Holdings Corp.(the “Company”), pursuant to a Loan Agreement, dated March 30, 2023 (the “Loan Agreement”), issued a promissory note, in the principal amount of $5,000,000 (the “LV Note”), secured by a Deed of Trust and Security Agreement, dated March 30, 2023 (the “Deed of Trust”) on DevCorp.’s Lake Travis project site in Lago Vista, Texas, a related Assignment of Contract Rights, dated March 30, 2023 (“Assignment of Rights”), on DevCorp.’s Lake Travis project site in Lago Vista, Texas and McLean site in Durant, Oklahoma and a Mortgage, dated March 30, 2023 (“Mortgage”), on DevCorp.’s McLean site in Durant, Oklahoma.”

OLENOX INDUSTRIES INC. reported financial results for the fourth quarter of 2022.

“Safe & Green Holdings Corp. Reports 476% Year Over Year Increase in Construction Services Revenue for the Fourth Quarter of 2022”

OLENOX INDUSTRIES INC. reported financial results for the fiscal year ended December 31, 2022.

“On March 29, 2023, Safe & Green Holdings Corp., a Delaware corporation (the “Company”), issued a press release that included financial information for the fiscal year ended December 31, 2022.”

OLENOX INDUSTRIES INC. incurred convertible notes of $1,100,000.00 with Peak One Opportunity Fund, L.P. at 8% per annum maturing twelve months from its date of issuance.

“On February 7, 2023, Safe & Green Holdings Corp. (the "Company") closed a private placement offering (the “Offering”) of One Million One Hundred Thousand Dollars ($1,100,000.00) in principal amount of the Company’s 8% convertible debenture (the “Debenture”) and a warrant (the “Warrant”) to purchase up to Five Hundred Thousand (500,000) shares of the Company’s common stock, to Peak One Opportunity Fund, L.P. (“Peak One”).”

OLENOX INDUSTRIES INC. entered into Securities Purchase Agreement with Peak One Opportunity Fund, L.P. valued at $1,000,000 (effective 2023-02-07).

“Pursuant to a Securities Purchase Agreement, dated February 7, 2023 (the “Purchase Agreement”), the Debenture was sold to Peak One for a purchase price of $1,000,000, representing an original issue discount of ten percent (10%).”

David Villarreal was appointed as President and Chief Executive Officer at OLENOX INDUSTRIES INC..

“appointed David Villarreal as the Company’s President and Chief Executive Officer”

Elizabeth Cormier-May was appointed as Director at OLENOX INDUSTRIES INC..

“On January 6, 2023, the Board of Directors (the “Board”) of Safe & Green Holdings Corp. (the “Company”), appointed Elizabeth Cormier-May to serve as a director of the Company.”

OLENOX INDUSTRIES INC. received a nasdaq compliance regained notice regarding audit committee (rules 5605(b)(1), 5605(c)(2)(A)).

“of the Company and also served as a member of the Audit Committee and Compensation Committee of the Board. After giving effect to Mr. Safina’s resignation, on December 20, 2022 the Company’s Board of Directors no longer had a majority of independent directors as required by NASDAQ Marketplace Rule 5605(b)(1) and the audit committee of the Board no longer had three members as required by NASDAQ Marketplace Rule 5605(c)(2)(A). The Company informed NASDAQ of the foregoing on December 21, 2022. On December 22, 2022, with the appointment of Shafron E. Hawkins to the Board and to the Audit Committe”

Shafron E. Hawkins was appointed as Director at OLENOX INDUSTRIES INC..

“On December 22, 2022, the Board appointed Shafron E. Hawkins to serve as a director of the Company.”

Joseph Safina resigned as Director at OLENOX INDUSTRIES INC..

“The information regarding Mr. Safina's resignation contained in Item 3.01 is incorporated herein by reference.”

OLENOX INDUSTRIES INC. received a nasdaq compliance regained notice regarding audit committee (rules 5605(c)(2)(A)).

“December 22, 2022, with the appointment of Shafron E. Hawkins to the Board and to the Audit Committee and Compensation Committee of the Board, the Company regained compliance with NASDAQ Marketplace Rule 5605(b)(1) and NASDAQ Marketplace Rule 5605(c)(2)(A).”

OLENOX INDUSTRIES INC. received a nasdaq compliance regained notice regarding board independence (rules 5605(b)(1)).

“December 22, 2022, with the appointment of Shafron E. Hawkins to the Board and to the Audit Committee and Compensation Committee of the Board, the Company regained compliance with NASDAQ Marketplace Rule 5605(b)(1) and NASDAQ Marketplace Rule 5605(c)(2)(A).”

OLENOX INDUSTRIES INC.: Company changed its name from SG Blocks, Inc. to Safe & Green Holdings Corp. via a Certificate of Amendment to its Amended and Restated Certificate of Incorporation (effective 2022-12-16).

“On December 16, 2022, SG Blocks, Inc. (the “Company”) changed its name to Safe & Green Holdings Corp.by filing a Certificate of Amendment to its Amended and Restated Certificate of Incorporation with the Secretary of State of the State of Delaware (the “Name Change”).”

Shafron E. Hawkins was appointed as Director at OLENOX INDUSTRIES INC..

“On December 5, 2022, the Board appointed Shafron E. Hawkins to serve as a director of the Company.”

Joseph Safina resigned as Director at OLENOX INDUSTRIES INC..

“The information regarding Mr. Safina’s resignation contained in Item 3.01 is incorporated herein by reference.”

OLENOX INDUSTRIES INC. entered into Fabrication Agreement with SG Echo, LLC (effective 2022-12-02).

“On December 2, 2022, the Company’s subsidiary, SGB Development Corp. (“SG DevCorp.”), entered into a Fabrication Agreement (the “Fabrication Agreement”) with the Company’s subsidiary, SG Echo, LLC (“SG Echo”), for the fabrication of approximately 800 multifamily market rate rental units, equal to approximately 800,000 square feet of new modular buildings to be located at Magnolia Gardens, McLean Ave, Durant, OK (the “Project”).”

OLENOX INDUSTRIES INC. reported third quarter ended September 30, 2022 results: revenue $4.1 million, net income ($2,454) million, EPS ($0.18) per share.

“Third Quarter 2022 Financial Highlights ● Consolidated Revenues. Third quarter 2022 consolidated revenue was $4.1 million. Revenues fell 53%, or $4.7 million, from third quarter 2021 to third quarter 2022, primarily driven from the decline in the medical segment, offset by the growth in the construction segment. Consolidated revenues are up 612% over a two-year period, driven from strong growth in both the medical and construction segments. ● Construction Revenues. Construction revenue for the third quarter 2022 was $2.7 million compared to $0.6 million for the third quarter 2021, representing an increase of 334%, or $2.0 million. ● Breakdown of Revenues. Revenues generated in the third quarter were primarily driven 65% by construction revenue and 35% by medical revenue. ● Gross Profit. Third quarter gross profit was ($0.165) million, an increase of 73%, or $0.442 million, compared to gross profit of ($0.607) million for the third quarter 2021. Gross profit margin increased from (6.9%)”

Marc Brune was appointed as Director of Finance at OLENOX INDUSTRIES INC..

“Effective September 1, 2022, the Company appointed Marc Brune as the Company’s Director of Finance”

Margaret Coleman departed as director at OLENOX INDUSTRIES INC..

“On August 29, 2022, Margaret Coleman advised SG Blocks, Inc. (the “Company”) that she intends to retire as a director of the Company effective as of October 1, 2022.”

Paul Galvin was appointed as Interim Chief Financial Officer at OLENOX INDUSTRIES INC..

“on May 18, 2022, the board of directors of SG Blocks, Inc. (the “Company”) appointed Paul Galvin as Interim Chief Financial Officer”

Gerald Sheeran was terminated as Interim Chief Financial Officer at OLENOX INDUSTRIES INC..

“On May 12, 2022, Gerald Sheeran was terminated as Interim Chief Financial Officer”

Gerald Sheeran was appointed as Acting Chief Financial Officer at OLENOX INDUSTRIES INC..

“On September 30, 2021, the Company entered into an executive employment agreement with Gerald Sheeran (the “Sheeran Employment Agreement”) to employ Mr. Sheeran as the Company’s Acting Chief Financial Officer”

William Rogers was appointed as Chief Operating Officer at OLENOX INDUSTRIES INC..

“On September 27, 2021, SG Blocks, Inc. (the “Company”) entered into an executive employment agreement with William Rogers (the “Rogers Employment Agreement”) to employ Mr. Rogers as the Company’s Chief Operating Officer”