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SG Blocks, Inc. (SGBX) stock experienced a fall in the aftermarket – Here’s why?

SG Blocks, Inc. (SGBX) saw a decline of 13.96% in the aftermarket. However, the last trading session closed at $4.8 with an increase of 42.43%.

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Executive Employment Agreements 

On 1st October 2021, SGBX announced that that the Company has signed executive employment agreements with Williams Rogers and Gerald Sheeran. Both contracts have a two-year initial duration, with incentives chosen by the Company’s board of directors and management depending on the accomplishment of goals and targets. Since December 2020, William Rogers has served as the company’s Chief Operating Officer (COO).

Moreover, he also worked for Plaza Construction Corp. in New York City for more than 20 years, during which time the company erected some of the city’s most famous structures. Mr. Rogers’ leadership, communication, and organizational abilities are impressive in his role as COO. In addition, Gerald Sheeran, Acting Chief Financial Officer (CFO), has been with the Company since March of 2018. Last but not least, he formerly worked for Lucid Energy Group as a Senior Accounting Manager, and his skills in accountancy, reporting, and operational functions have helped him work for a variety of firms.

Two High-Complexity Mobile CLIA-Certified Laboratories

SGBX stated on 20th September that the firm has created a new modular lab technology at its Durant, Oklahoma site. The company aims to manufacture and deploy mobile multimodal CLIA-certified laboratories for point-of-care medical testing. These units will be owned and operated by SG Blocks, which will also provide an end-to-end service that includes personnel and billing.

Moreover, clients from a wide range of industries and domains, including sports teams, universities, entertainment firms, and others, will be approached to contract SG Blocks to deploy the mobile unit wherever it is needed. The 40-foot mobile CLIA lab unit will be mounted on a bespoke trailer and will be capable of performing a complete range of diagnostic tests, including COVID-19. Lastly, the laboratories will be entirely transportable and capable of testing for a wide range of illnesses and infections, including UTIs, cancer, COVID-19, and the flu.

SG ECHO as Exclusive Manufacturer

SGBX reported on 10th September 2021 SG ECHO has been chosen as Street Food USA’s official producer in the United States for its nationwide modular launch of food halls. Aarhus Street Food in Denmark is one of the first and most prominent examples of Street Food’s skill in creating concepts and sites for new, permanent food markets. By bringing up independent shareholder restaurants, Street Food USA creates and maintains street food markets that promote local innovation, long-term productivity expansion, and small business.

While the Street Cuisine USA concept may be used everywhere, the organization’s objective is to contribute to local gender, ethnic, and cultural diversity via food and unique eating experiences. For the project, SG Blocks will offer architectural design, consultancy, and engineering services. Lastly, 35 SG Blocks Modules will be used in the first design construction contract.

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