$SGTM

Sustainable Green Team, Ltd.

CIK:0001895251|SEC Filings

Condensed Consolidated Statements of Operations (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jul. 02, 2022	Jun. 30, 2023	Jul. 02, 2022
Income Statement [Abstract]
Net Revenue	$ 7,262,676	$ 12,224,356	$ 15,027,526	$ 22,553,804
Cost of Goods
Cost of Goods (excl depreciation & amortization)	5,692,568	11,555,815	11,833,248	19,516,147
Depreciation & Amortization (COGs)	896,401	478,628	1,802,769	1,725,352
Total Cost of Goods	6,588,969	12,034,443	13,636,017	21,241,500
Gross Profit	673,707	189,913	1,391,508	1,312,305
Operating Expenses
Selling, General and Administrative	2,041,697	1,296,221	4,446,381	2,571,628
Depreciation and Amortization (OpEx)	250,700	5,640	500,330	11,280
Total Operating Expenses	2,292,397	1,301,861	4,946,711	2,582,908
Income (loss) from Operations	(1,618,690)	(1,111,948)	(3,555,202)	(1,270,603)
Other Income (expense)
Interest Expense, net	(1,278,745)	(498,278)	(2,295,302)	(923,322)
Bargain Purchase Gain (loss)				598,300
Net Debt Forgiveness/Grant (ERC)	(346,818)	1,219,157	1,458,448	1,236,080
Gain on Sale of Fixed Assets	(23,461)	16,923	(23,461)	16,923
Other Income, net	(795,569)	57,663	(785,367)	124,269
Total Other Income (expense)	(2,444,593)	795,465	(1,645,681)	1,052,250
Income (loss) before Income Taxes	(4,063,282)	(316,485)	(5,200,884)	(218,354)
Provision for Income Taxes	(675,801)		(1,293,640)	21,968
Net Income (loss)	$ (3,387,481)	$ (316,484)	$ (3,907,244)	$ (240,321)
Net income (loss) per common share - basic	$ (0.04)	$ (0.00)	$ (0.05)	$ (0.00)
Net income (loss) per common share - diluted	$ (0.04)	$ (0.00)	$ (0.05)	$ (0.00)
Wt. Avg shares outstanding - basic	77,117,369	85,723,155	79,227,628	87,410,242
Wt. Avg shares outstanding - diluted	84,352,369	91,363,159	86,462,628	93,050,246

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	1 Months Ended	3 Months Ended				6 Months Ended		12 Months Ended
	Dec. 31, 2022	Jun. 30, 2023	Mar. 31, 2023	Jul. 02, 2022	Apr. 02, 2022	Jun. 30, 2023	Jul. 02, 2022	Dec. 31, 2022
Cash flows from operating activities:
Net Income (Loss)		$ (3,387,481)	$ (519,763)	$ (316,484)	$ 76,161	$ (3,907,244)	$ (240,321)	$ 8,901,214
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization						2,303,099	1,819,666
Prepaid Advertising Expense						717,500
Equity increase in long term investment							(50,667)
Bargain purchase gain							(598,300)
Gain on sale of fixed assets		23,461		(16,923)		23,461	(16,923)
Net Gain on ERC/Paycheck Protection Program							(1,236,080)
Changes in operating assets and liabilities:
Accounts receivable, net						(144,153)	1,469,366
Due from Factor							(997,558)
Inventory						169,410	715,611
Prepaid expenses and other assets						(55,993)	(481,510)
Accounts payable and accrued expenses						3,866,769	1,887,283
Net cash from (used in) operating activities						2,972,849	2,270,567
Cash flows from investing activities:
Purchases of property and equipment						(1,856,171)	(3,450,109)
Proceeds from sale of property and equipment						245,735
Proceeds from long-term investments						(36,326)	26,943
Net cash from (used in) investing activities						(1,646,762)	(3,423,166)
Cash flows from financing activities:
Borrowing under factoring							10,585,975
Repayments under factoring							(10,032,885)
Principal payments on leases						(443,557)	(134,694)
Proceeds from notes payable						6,814,750	4,507,500
Payment on notes payable	$ (1,500,000)					(8,305,897)	(3,368,495)
Payment on notes payable, related parties
Stock subscriptions						608,619	1,300,000
Stock redemptions							(2,437,500)
Net cash provided by (used in) financing activities						(1,326,086)	419,901
Net increase (decrease) in cash						0	(732,698)
Cash - beginning of period					$ 788,242		788,242	788,242
Cash - end of period		$ 0		$ 55,544		$ 0	$ 55,544

Condensed Consolidated Balance Sheets (Unaudited) - USD ($)	Jun. 30, 2023	Dec. 31, 2022
Current Assets
Cash & short term investments	$ 0
Accounts receivable	2,580,478	2,436,324
Inventory	31,080,347	18,656,179
Prepaid expenses and other current assets	10,466,143	8,797,966
Total Current Assets	44,126,968	29,890,522
Property and equipment, net	64,974,301	64,333,763
Other Assets
Long-term investments	1,004,838	968,513
Goodwill	224,000	224,000
Intangibles	13,988,620	14,473,880
ROU asset	10,394,449	10,474,406
Total Other Assets	25,611,908	26,140,798
Total Assets	134,713,176	120,365,084
Current Liabilities
Accounts payable and accrued expenses	8,631,789	4,765,019
Current portion of lease liability	3,468,555	3,350,145
Total Current Liabilities	22,197,925	16,327,342
Long-term Liabilities
Lease liabilities, net of current portion	6,925,894	7,140,632
Notes payable, net of current portion	24,692,277	24,221,403
Total Long-term Liabilities	31,618,170	31,362,035
Total Liabilities	53,816,096	47,689,378
Stockholders’ Equity
Preferred Series A stock, $0.0001 par value, 5,000,000 shares authorized, 90 shares outstanding Common stock, $0.0001 par value; 245,000,000 shares authorized; 84,360,892 and 74,631,742 shares issued and outstanding, respectively
Common Stock	8,436	7,463
Additional paid-in capital	68,421,866	56,294,220
Retained earnings	12,466,779	16,374,022
Total Stockholders’ Equity	80,897,081	72,675,706
Total Liabilities and Stockholders’ Equity	134,713,176	120,365,084
Nonrelated Party [Member]
Current Liabilities
Notes payable - related party	8,597,581	6,712,178
Related Party [Member]
Current Liabilities
Notes payable - related party	$ 1,500,000	$ 1,500,000