Solar Integrated Roofing, Inc. Projected to Report Annual Revenues of $20 Million
Poway, California--(Newsfile Corp. - August 4, 2020) - Solar Integrated Roofing Corporation (OTC PINK: SIRC) ("SIRC") ("The Company"), a leading integrated solar and roofing installation company based in Southern California is pleased to announce today that revenue projections are on pace for $20 Million for the fiscal year-end 2020. The Company reported at $3 Million in the first-quarter (Q1) of 2020, which is traditionally the slowest season for the Solar Energy sector. SIRC is projecting the second-quarter (Q2) revenue at an estimated $5 Million with $5 Million in sales that are backlogged and projected to be fulfilled by the Company in Q3 of 2020.
Dave Massey, CEO of SIRC, commented, "The company has experienced strong growth during the past 6 months and we expect this trend to continue as we cross-market to sell our Solar/Roofing solutions and generate new business, while also continuing to seek out new acquisition targets that we feel would mesh well with our business model. We have achieved several important milestones since the beginning of the year. These include:
- Bringing all filings up to date and having the Caveat Emptor designation removed.
- Closing the Acquisition of Milholland Electric and appointing Brian Milholland as our President.
- The appointment of Angela Smoley as Chief Financial Officer of SIRC.
Dave Massey continued "We are extremely optimistic about executing our growth strategy. Overall, the sector is strong and the demand for solar is growing exponentially. Recent developments at the legislative level continue to be a positive influence for the Solar Energy sector. A catalyst driving the industry is the recent mandate issued by the State of California that all new home construction be equipped with solar energy capabilities. We expect that this State mandate will be a positive impact to our business in 2020 and beyond."
About Solar Integrated Roofing Corporation:
Solar Integrated Roofing Corporation is an integrated solar and roofing installation company specializing in commercial and residential properties. For more information, please visit: www.solarintegratedroofingcorp.com.
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 the information contained in any forward-looking statement. This press release shall not be deemed a general solicitation.
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