Cannabis and Solar Industries Together: Targeting $40M+ in Revenue, Solar Integrated Roofing Continues Making Acquisitions, Expanding to Cannabis, and Reduces Authorized Shares to 250M
(OTC PINK:SIRC)(NASDAQ:TSLA)(NASDAQ:AAPL)(TSX: ACB)(NYSE:HEXO)(NYSE:ACB)(OTCQB:SGMD)(NYSE:SMG)(NASDAQ:HEXO)(TSX:HEXO)
New York, NY Aug 15, 2019 – Stock Market Press is a leading financial news company that delivers up to date stock news. In today’s release we expand coverage of Solar Integrated Roofing Corp’s (OTC PINK:SIRC) as they not only reduce their Authorized Shares from 750M down to 250M but increase revenue guidance to $40M, additionally covering SunRun (NASDAQ:RUN), Tilray (NASDAQ:TLRY) Sugarmade (OTCQB:SGMD) and Canadian Solar (NASDAQ:CSIQ).
Solar Integrated Roofing Corp’s (OTC PINK:SIRC) has seen an impressive week, not only on the news front with Nasdaq interview, Authorized share reduction and acquisitions, but their stock price has moved up dramatically, from the $0.04 level to a high of $0.21, currently trading at $0.12.
SIRC To Retire 500,000,000 Shares / NASDAQ Interview Goes Live
Solar Integrated Roofing Corporation (OTC PINK:SIRC) (the “Company”) is pleased to announce that the total Authorized number of shares is being reduced from the current 750,000,000 to 250,000,000. A retirement of 500,000,000 shares. David Massey, President and CEO of (OTC PINK:SIRC), commented on the share reduction, “The Company wishes to make it clear that we are committed to ensuring public & private investors that not only are we not increasing the number of Authorized shares, but we are actually reducing number of Authorized shares by 500,000,000. Leaving 250,000,000 as total Authorized. Not bad considering our acquisition strategy and the fact that similar publicly-traded companies our size, commonly increase number of shares Authorized when growth opportunities present themselves. This results in share dilution for the investor.” The current share count as of today for (OTC PINK:SIRC) is as follows; Authorized 750,000,000, Outstanding 96,140,504, Restricted 75,272,924, and 20,867,580 is in public float.
The NASDAQ interview is now online here: https://youtu.be/1-bOnfys7ME
Solar Integrated Roofing Corporation Expecting Revenue Growth to $40 Million from Acquisitions and Expansion
Solar Integrated Roofing Corporation (OTC PINK:SIRC) CEO David Massey said he expects revenues to grow to $40 million as a result of acquisitions and planned product expansion.
“We’re in the middle of a tremendous surge in revenue growth,” he explained. “Everything we have been working on in 2019 is coming together. Our solar marketing company acquisition is poised to generate in excess of $1 million in monthly sales. We will be closing deals to acquire three additional solar and roofing companies, bringing in another $20 million in annual revenues.”
Not only is Solar Integrated Roofing Corp’s (OTC PINK:SIRC) business booming in the ‘regular’ solar market, they are expanding into cannabis industry as energy needs of growers and processors benefit greatly from solar systems, reducing their expenses and putting the larger green house and processing plants roofs to good use.
Sunrun (NASDAQ:RUN) Reports Second Quarter 2019 Financial Results
Customers now at 255,000, an increase of 26% year-over-year
Net Present Value created of $95 million in the quarter, an increase of 23% year-over-year
Net Earning Assets of $1.4 billion, an increase of 11% year-over-year
Total Cash increased $91 million from the prior year
Sugarmade CEO Expects Golden State Hemp Legislation to Benefit the Industry – Company Prepares First Closing of BZRTH Acquisition
Sugarmade, Inc. (OTCQB:SGMD), a major supplier to the growing hydroponic cultivation and hemp sectors, today announces it is now prepared to complete the first closing of its BZRTH, LLC acquisition. Recently, the Company announced BZRTH had completed its financial audit, which was one of the major items required to close the pending transaction. BZRTH is a major supplier to the hydroponic and hemp cultivation sectors, producing in excess of $30 million in annual revenues.
“It is an exciting time for Sugarmade (OTCQB:SGMD), especially as the California licensing and legislative agenda continue to show strong promise. We have aggressive expansion plans and both the first closing of BZRTH and the beginning of hemp cultivation operations in conjunction with Kentucky-based Hempistry, Inc. are major milestones for our Company,” commented Jimmy Chan, CEO of Sugarmade (OTCQB:SGMD).
Revenues across the cannabis space continue to increase as seen above in Sugarmade’s (OTCQB:SGMD) acquisition for BZRTH and below from Tilray’s (NASDAQ:TLRY) earnings call.
From the Tilray (NASDAQ:TLRY) earnings call “We are pleased with our second-quarter results which included the first full quarter of Manitoba Harvest sales. Revenue increased 371% year over year to $45.9 million and total kg equivalent sold increased both sequentially and on a year over year basis to 5,588 kg. Adult-use revenue nearly doubled from the first quarter to the second quarter with revenue of $15 million.”
Canadian Solar (NASDAQ:CSIQ) reported a positive earnings of 34% for Q1 and is expected to report a robust Q2 this morning. Solar continues to gain across market sectors as the trade war with China boosts North American production and product demand.
As exponential growth continues in the cannabis industry, the energy demands can efficiently be met by solar and companies like Solar Integrated Roofing Corp’s (OTC PINK:SIRC) are at the forefront as detailed in the Nasdaq interview. We are looking forward to many more acquisitions and continued growth for Solar Integrated Roofing Corp’s (OTC PINK:SIRC).
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