Solar Integrated Roofing Corp. 2018 Year End Corporate Update
POWAY, Calif., Dec. 6, 2018 /PRNewswire/ -- Solar Integrated Roofing Corporation (OTCPINK: SIRC) The Company is pleased to take this opportunity to provide an update into various aspects of the business here in the last month of FY2018. These include the Audit completion, Acquisition Strategy, and new Investor Relations initiative.
The audited financials for FY2018, are expected to be completed early February 2019. From there, the Company will apply for uplisting to the OTC as a fully-reporting company. More details will follow.
In regards to the Company's acquisition strategy, SIRC CEO, David Massey stated, "Our first Southern California roofing company acquisition, announced on November 28th is progressing nicely as a term sheet has already been approved by both parties. Revenues for the roofing company for FY2017 were nearly $5 million. Given the holidays, we expect it to close in January 2019. It is the first of several deals we are planning to close between now and throughout Q1 2019. Each of the planned acquisitions are very profitable and individually have impressive upward growth curves. Given the 2020 implementation of California's requirement that all new home construction be powered by solar energy, there isn't a better time to be growing in the California roofing industry." The Company plans an additional $12 million in roofing and solar company acquisitions in Q1 2019. More details will follow.
In an effort to improve shareholder relations and promote greater Company transparency, the Company is pleased to announce a new Investor Relations initiative. Heading up Shareholder Relations is Marlena LeBrun. A seasoned professional, Marlena will handle all shareholder inquiries in addition to current duties with the Company. She can be reached at 760-566-9116 or [email protected]. The Company will also be holding for the first time, a conference call with shareholders and interested parties sometime during December. The call will be hosted by SIRC, CEO, David Massey on Wednesday December 12th at 10am. The call-in phone number will follow. Lastly, the Company is updating their web site to better inform and educate visitors with all corporate information, including a revamped Investor Relations/Company Stock page. "These are very exciting days for SIRC, and it's time our image better reflected that," commented Massey. "We care about building an even more successful business, and increasing shareholder value is at the forefront of our efforts. We look forward to a breakout 2019!"
About SIRC
Solar Integrated Roofing Corporation (SIRC) is an integrated solar and roofing installation company specializing in commercial and residential properties with a focus on acquisitions of like companies to build a footprint nationally. For more information, please visit: www.solarintegratedroofingcorp.com
Forward-Looking Statements:
Any statements made in this press release which are not historical facts contain certain forward-looking statements; as such term is defined in the Private Security Litigation Reform Act of 1995, concerning potential developments affecting the business, prospects, financial condition and other aspects of the company to which this release pertains. The actual results of the specific items described in this release, and the company's operations generally, may differ materially from what is projected in such forward-looking statements. Although such statements are based upon the best judgments of management of the company as of the date of this release, significant deviations in magnitude, timing and other factors may result from business risks and uncertainties including, without limitation, the company's dependence on third parties, general market and economic conditions, technical factors, the availability of outside capital, receipt of revenues and other factors, many of which are beyond the control of the company. The company disclaims any obligation to update information contained in any forward-looking statement. This press release shall not be deemed a general solicitation.
Investor Inquiries:
Marlena LeBrun
760-566-9116
[email protected]
SOURCE Solar Integrated Roofing Corp. (SIRC)
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