Good day and welcome to SG Blocks Fourth Quarter and Year-End 2021 Earnings Conference Call and Webcast. Today’s conference call is being recorded. At this time, I would like to turn the conference over to Stephanie Prince of PCG Advisory.

Good afternoon. Thank you all for joining us for the SG Blocks fourth quarter and year-end 2021 earnings call. With me on the call today are Paul Galvin, Chairman and Chief Executive Officer and Gerald Sheeran, Acting Chief Financial Officer. A press release detailing the company’s results was issued after the market closed at 4:05 p.m. today and is now available on the investor relations section on the company’s website at sgblocks.com. A replay of this conference call can be accessed in the IR section of the website as well. Before I turn the call over to management, please remember that various remarks about future expectations, plans, and prospects made on today's call constitute forward-looking statements for the purposes of the Safe Harbor provisions under the Private Securities Litigation Reform Act of 1995. SG Blocks cautions that these forward-looking statements are subject to risks and uncertainties that may cause their actual results to differ materially from those indicated, including the risks described in the company's filings with the SEC. Any forward-looking statements made on this conference call speak only as of today's date, Monday, April 18 2022. SG Blocks does not intend to update any of these forward-looking statements to reflect events or circumstances that occur after today. With that, I'll now turn the call over to Paul Galvin, CEO of SG Blocks. Paul?

Thank you, Stephanie, and hello everyone. Thank you for joining us today. 2021 was an historic year for SG Blocks and its subsidiaries by every metric. Every quarter of the year had higher revenue and built on the success of the previous quarter. We ended 2021 with $38.3 million in revenue, 12 times higher than the $3 million that we reported just two years ago in 2019. We're proud that we achieved this growth while maintaining our low share count, which remains at approximately 12 million shares on a fully diluted basis. Gerald will review the financial results in a few minutes. Now let's turn to some of the many highlights of the past year. During 2021, we increased our asset base significantly by reinvesting $3.75 million of the distributions generated from our CLIA COVID testing lab at LAX into development projects. To date, we've invested over $9 million of capital in other companies, projects, and factories that we expect will yield manufacturing revenue and cash flow over time. In the first quarter, we established SG Development Corp. which has grown tremendously since then. We have established a residential unit pipeline in excess of 4,100 homes and apartments. We expect to add significantly to that with the signing of additional projects currently being vetted [ph]. We're continuing to execute on our made in the USA production strategy. At this time, we have approximately 1 million square feet of manufacturing space either open or in development. These new manufacturing lines will produce the modules for our development company and our medical segment, which is called Clarity Mobile Ventures. We also manufacture units for other qualified third party clients. This is part of our fill our factories with our own project strategy, which has multiple benefits for our company that I'll discuss…

Thank you, Paul. Let's begin with the income statement. Revenue for the fourth quarter was $8.5 million, an increase of 15% compared to $7.4 million for the fourth quarter of 2020. Medical segment sales increased 80% year-over-year to $7.6 million. Gross profit for the fourth quarter of 2021 was approximately $200,000 compared to $1.6 million in the fourth quarter of 2020. Gross profit was lower due to higher year-end cost adjustments and a $1 million accrued loss chargeback related to additional cost of goods sold, expenses for two projects, which are expected to be complete by the end of the second quarter of 2022. Operating expenses for the fourth quarter were $2.4 million, a decrease of 22% and compared to $3.1 million in the fourth quarter of 2020. General and Administrative expenses decreased 35.5% compared to the year ago fourth quarter. The net loss attributed to common shareholders was $3.4 million or negative $0.31 per share, compared to a net loss of $1.6 million or negative $0.19 per share in the fourth quarter of 2020. The net loss attributed to common shareholders included the following items approximately 155,000 in non-cash depreciation and amortization expense, 900,000 in non-cash, stock compensation expense and a million dollars in accrued loss charge charges. For the year revenue was $38.3 million, a 338% increase compared to $8.8 million in revenue for 2020. The medical segment accounted for 82% of total revenue, and the construction segment accounted for 18%. Now turning to the balance sheet, SG Blocks continues to have a strong and flexible capital structure that we believe will support our near term financial requirements. At December 31, the company had cash and cash equivalents of approximately $13 million. This includes net proceeds of approximately $10.5 million from the equity capital raise that we closed in October of 2021. Total assets were $34.9 million at year-end compared to $26.9 million at December 31, 2020. During 2021, the company's cash had been deployed into strategic investments and included both the acquisition of land development and projects totaling approximately $9.2 million. At year-end, long term liabilities included one note outstanding for $750,000 and the lease liability of $772,000. Shareholders equity totaled $21.7 million compared to $18.4 at the end of 2020. And there were approximately 12 million shares of common stock outstanding. I'll now turn the call back to Paul.

Thank you, Gerald. In closing, 2021 was an historic year by almost every measure. We ended the year with great momentum and have a lot to look forward to in the year ahead. This includes our plans for launching our first non-COVID-19 testing and service modules, working to grow our SG DevCo pipeline to 10,000 residential units, advancing the initial development company projects into our factories, and over the next 24 to 30 months, activating approximately 1 million square feet of additional made in the USA manufacturing space. Ultimately, our goal is to achieve strong and consistent revenue growth from a diversified pipeline of projects where we control the means of delivery. And we're getting closer every quarter. The investments made over the last two years to build a strong foundation have brought us to this important junction, and we believe that we're on the cusp of achieving our goals, including being cash flow positive for all of 2022. Thank you to everyone who has helped us reach this point. That completes our prepared remarks. Thank you for your interest. For those that have questions. Please contact Stephanie Prince at sprince at pcgadvisory.com. Stephanie will be scheduling 15 minute calls with interested investors with management. We look forward to speaking with you again on our first quarter call in mid-May. Be well, stay safe and have a great day. Thank you.

This concludes today's conference and you may disconnect your lines at this time. Thank you for your participation, and have a wonderful day.