As the Business World Reopens, Spectacular Solar Shining Once Again as Company Closes $350K in Contracts
Rahway, New Jersey--(Newsfile Corp. - May 27, 2020) - Spectacular Solar, Inc. (OTC PINK: SPSO), is pleased to announce that it has signed and financed not just one deal as was announced on Twitter, but two deals since the economy in the Mid-Atlantic region has reopened.
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Heck signed a $100,000 solar installation contract with Bornmann RV Sales in Glassboro, NJ and a $250,000 contract to install a 65-kilowatt project for First Friends Child Care School in Matawan, NJ.
"It feels great to get these two deals signed and financed - it has been a frustrating four months," said Spectacular Solar CEO Doug Heck. "Not only was the U.S. economy firing on all cylinders, but Spectacular Solar was as well and then the world stopped. The sales team is really ramped up and I look forward to being able to announce many more deals in the near future as they get financed."
On the construction side of the business, the company is now operating at 100% capacity as workers are now allowed to enter homes in addition to working on the exterior of buildings. On the office side, Heck is remaining conservative.
"Watching the excitement our construction workers getting back on the job was like seeing NFL players ready to come out of the tunnel on opening day - it was great to see," Heck said. "We are still concerned about maintaining social distancing in the office and will be staffing the Rahway office accordingly to stay in compliance with CDC guidelines."
There is also one personnel move to announce. Antonio Perez, formerly the Chief Financial Officer, is no longer with the company. Heck is in discussions with Albeck Financial to handle the CFO functions on an interim basis. Albeck is the financial firm that worked with Spectacular Solar to get the audit-ready financial reporting package to M & K CPAs for the audit.
For more information: please visit http://www.spectacularsolar.com and please follow us on Twitter: @SPECTACULARSOL1
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About Spectacular Solar, Inc.: Spectacular Solar is a diversified company involved in solar system installations, investment fund management, and roofing contracting through its subsidiaries. SPSO designs and installs state-of-the-art solar conversions for home and business owners. Star Power Services is a bonded and licensed roofing contracting company with expertise in new roof installation, repairs, and maintenance. The Solar Energy Investors Fund contributes to the ongoing insurance expenses directly associated with installation of solar systems. In return, the fund receives a share of tax benefits and ongoing revenue generated from electricity sales.
Safe Harbor Statement
This release contains forward-looking statements that relate to future events or performance. These statements reflect the company's current expectations and are made pursuant to the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995. The company doesn't undertake to update or revise these forward-looking statements, even if experience or future changes make it clear that any projected results, expressed or implied, in this or other company statements will not be realized. Readers are cautioned that these statements involve risks and uncertainties, many of which are beyond the company's control, which could cause actual results to differ materially from the forward-looking statements. Factors that could cause these differences include, but are not limited to, the acceptance of our products, lack of revenue growth, failure to realize profitability, inability to raise capital and market conditions that negatively affect the market price of our common stock. The Company disclaims any responsibility to update any forward-looking statements.
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