Good day and welcome to SG Blocks’ Fourth Quarter and Full Year 2020 Earnings Conference Call and Webcast. Today's conference call is being recorded. At this time, I would like to turn the conference over to Mr. Stephen Swett of Investor Relations. Thank you sir, you may begin.

Good afternoon. Thank you all for joining us for our fourth quarter and full year 2020 earnings call. With me today is Paul Galvin, Chief Executive Officer SG Blocks, and Gerald Sheeran, Acting Chief Financial Officer. A press release detailing our results was issued this afternoon just after the market close and is available on the company's website at www.sgblocks.com. Before I turn the call over to Paul, please remember that certain statements made during this presentation are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical facts contained in this presentation, including statements regarding the company's future operations and financial position, business strategy, and plans and objectives of management for future operations are forward-looking statements. In some cases, forward-looking statements can be identified by terminologies such as believes, may, estimates, continue, anticipates, intends, should, plan, expect, predict, potential or the negative of these terms or other similar expressions. We have based these forward-looking statements largely on our current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy and financial needs. These forward-looking statements are subject to a number of risks and uncertainties, and assumptions described, including those set forth in our filings with the SEC, which are available at www.sgblocks.com. You should not rely upon forward-looking statements as predictions of future events. We cannot assure you that the events and circumstances reflected in the forward-looking statements will be achieved or occur. Finally, this conference call is being webcast. The webcast is available in the Investor Relations section of our website. Now I will turn the call over to Paul.

Thank you, Steve. Let me begin with an apology for the delay in recording. We pride ourselves on being on time, every time with our filings. The last time we needed an extension to file our annual report was literally 22 years ago in 1999. It was unavoidable this quarter, and we have implemented a plan that includes additional resources and redundancy to allow us to report on time regardless of any staff bonuses and other items we may encounter. Now to the news, SG Blocks had a record breaking fourth quarter 2020 as well as a record breaking year in 2020. Our fourth quarter gross revenue was approximately $7,350,000, which would be 20 times greater than the revenue we produced in the fourth quarter last year, as well as the third quarter of 2020. In fact, our fourth quarter revenue was greater than the prior eight quarters combined, though these results reflect our efforts from that period. Our team is talented, hardworking and tireless. Today's results are the products of the seeds planted and harvested during the past 18 months when we put our heads down and work collectively to turn around the company's trajectory. We thank our staff, consultants, attorneys, partners and board for the focus, effort and the support of our mission. It is also worth remembering that we have worked diligently to maintain a clean cap table structure. And because of this priority, SG Blocks can report today that we continue to have no debt and a float of approximately 7.2 million shares. SGBX with the support of ThinkEquity, a division of Fordham Financial Management, capitalized the company in Q2 2020 with an offering of 6 million shares of our common stock at a price of $2.50 per share. We intend to continue to use these…

Thank you, Paul. Beginning with the income statement, for the fourth quarter 2020 we reported revenue of approximately $7.4 million compared to approximately $337,000 for the fourth quarter of 2019. This increase was driven by approximately $2.7 million in construction revenue, and approximately $4.2 million increase in medical revenue. For the full year 2020 we reported revenue of approximately $8.8 million, compared to approximately $3 million for 2019. This increase was driven primarily by approximately $4.2 million increase and medical revenue and approximately $1.3 million increase in construction revenue. Gross profit in the fourth quarter of 2020 was approximately $1.6 million compared to a gross profit of approximately $48,000 in the year ago quarter. The gross profit margin in the fourth quarter of 2020 was approximately 21.8%. For the full year 2020 gross profit was approximately $2.2 million compared to a gross profit of approximately $677,000 in the prior year. The gross profit margin for 2020 was approximately 25.4%. Operating expenses in the fourth quarter of 2020 were approximately $3.1 million, compared to approximately $4 million in the year ago quarter. The decrease was primarily driven by goodwill impairment charge taken in the fourth quarter 2019 of approximately $2.9 million that did not reoccur in 2020 partially offset by an increase in payroll expense of approximately $1.1 million and G&A expenses of approximately $700,000. For the full year 2020, operating expenses were approximately $6.8 million, compared to approximately $7.4 million in 2019. The decrease was primarily driven by the goodwill impairment charge taken out of 2019 that I just mentioned, of approximately $2.9 million partially offset by increases in payroll expense of approximately $600,000 due to non-cash, stock compensation expense, and on-boarding costs for the new employees of the SG Echo plan, and higher G&A expenses related to legal fees…

Thank you, Gerald. In summary, we had a record 2020 and a very engaged first quarter with no intention of surrendering our hard fought momentum. At this time, we are not providing new revenue guidance for 2021 although it is our intention to do so later this year. We do not anticipate that we will need to raise operating monies. We need to execute and continue to effectively grow SG DevCo, which represents one of the company's major verticals into the future. SG Blocks is committed to hardwork and excellence. And we want nothing more than to deliver results for our valued shareholders. We appreciate our shareholders and investors who have a multitude of choices for their time, their capital and their attention. We express our appreciation by working tirelessly each day and every day to maximize what we believe is a golden opportunity for SG Blocks. 2020 was a year unlike any other in American history. The pandemic has left an indelible mark on the country's soul, and in particular, our ailing economy. Many of us have had loved ones pass away or suffer from COVID-19. We have all seen businesses that we support be forced to close and many good people be out of work due to no fault of their own. We empathize with everyone who has been impacted so drastically. This also makes us uniquely grateful for the success and growth we achieved during these most difficult times. We thank you for your time today, and wish you a good night.

Thank you for joining us today. This concludes today's conference You may disconnect your lines at this time.