Solar Integrated Roofing Corp Retires 20 Million Shares of Common Stock, Valued At Over One Million Dollars
Poway, California--(Newsfile Corp. - September 17, 2020) - Solar Integrated Roofing Corporation (OTC PINK: SIRC), a leading Southwest-based Solar Company, is extremely pleased to announce we are retiring 20 million shares of our Common Stock to Treasury. The current market value of this retirement is over $1 Million USD, and accounts for approximately 15% of the current Outstanding Shares.
This accounts for only one of the major milestones and achievements we have accomplished in recent months, inclusive of:
- Consolidated audit reaching completion as of this week and being prepared for submission
- $2 Million in revenue with a 20% net profit leading to over $400K in net profit for the month of August
- Q2 revenues are projected to be approximately $5 Million, by far the most profitable quarter in company history
Dave Massey, CEO of Solar Integrated Roofing Corp stated "2020 has really been a momentous year for us. Early in the year, we established the goal of becoming a strong contender in the renewable energy sector and in recent months, we've shattered expectations and increased our footprint significantly in several major metropolitan areas. We are currently in the final stages of negotiation with our acquisition target mentioned in the September 9th press release, and we anticipate closing within the very near future."
Mr. Massey continued "As expected, our projections show an increase in profits as we climb steadily into the strongest quarter during the final months of 2020. I greatly anticipate sharing with you the completion of several exciting updates and developments, which will greatly enhance shareholder value as we embark on the beginning of the strongest period in our corporate history."
About Solar Integrated Roofing Corporation:
Solar Integrated Roofing Corporation 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. The Company is focused on becoming a nationwide leader in green energy by employing an effective strategy for solar and roofing needs by making it cost-effective and energy-efficient. 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.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/64022