Executive Management Of Solar Integrated Roofing Corp. (OTC PINK: SIRC) Dis-cuss Forward Operations With Financial Community Last Night After It Announces Q3 Financials And Seven Pending Acquisitions

 In NASDAQ: BLNK, NASDAQ: CSIQ, NASDAQ: ENPH, NASDAQ: EVGO, NASDAQ: FSLR, NASDAQ: ROCK, NASDAQ: RUN, NASDAQ: SEDG, NASDAQ: SPWR, NASDAQ: TSLA, NYSE: SPRQ, OTC PINK: SIRC

Last evening, Solar Integrated Roofing Corp. (OTC PINK: SIRC) shares jumped 37.35% to $0.5854 in extremely heavy trading of 14,885,320 vs. a daily average of 2,146,827. It’s not seen as unusual because SIRC had recently announced a 964% jump in its Q3 fiscal 2022 sales. This week it announced a series of seven acquisitions aggregating some $78 million in new annualized revenues. David Massey, chairman and CEO, said SIRC is planning to move to a traditional December 31st year-end so the transactions would not interfere with the Company’s planned application for an up list to the OTCQX exchange by mid-March, following a successful near-term up list to the OTCQB exchange.

stockmarketpress.com features specialized coverage of related stocks in the solar, roofing, EV charging stations and battery charging energy industry such as Solar Integrated Roofing Corp. (OTC PINK: SIRC), Sunrun, Inc. (NASDAQ: RUN), Blink Charging Co. (NASDAQ: BLNK), Tesla, Inc. (NASDAQ: TSLA), GM (NYSE: GM), ChargePoint (NYSE: CHPT), Ego (NASDAQ: EVGO), SolarEdge Technologies, Inc. (NASDAQ: SEDG), First Solar, Inc. (NASDAQ: FSLR), SunPower (NASDAQ: SPWR), Gibraltar Industries, Inc. (NASDAQ: ROCK), Spartan Acquisition Corp. II (NYSE: SPRQ). and Canadian Solar Inc. (NASDAQ: CSIQ).

Executive Management Of Solar Integrated Roofing Corp. (OTC PINK: SIRC) Discuss Forward Operations With Financial Community Last Night After It Announces Q3 Financials And Seven Pending Acquisitions

Also last night the executive management team of SIRC held a live online Q&A session with the financial community and talked about its forward progress after announcing the financial and acquisition news.

Wall Street investors liked what they saw in SIRC’s performance in Q3 and rewarded the company with the 37.35% skyrocket in share price and market cap.

David Massey, chairman and CEO, and Pablo Diaz, president of SIRC and CEO of its USA Solar Networks subsidiary, said in the live online Q&A last night that the best is yet to come in a planned up list and successful solar and micro grid installation projects.

Earlier, Solar Integrated Roofing Corp. (OTC PINK: SIRC) announced a Q3 fiscal 2022 964% record sales jump to $48.2 million from $4.5 million the comparable period the prior year. SIRC also sees itself ‘substantially exceeding’ its earlier forecast of $100 million revenue for the 12 months ended May 31, 2022. Its annual run rate is now approaching $200 Million, the Company said. David Massy, Chairman and CEO of SIRC, also announced that the company is changing its name to SolarEV.

In the Q&A, Massey and Diaz discussed the important role of Arbiter Capital LLC.

SIRC earlier had reached a $42 million equity purchase agreement with Arbiter Capital LLC. It was to be used for share buybacks, acquisitions and to invest in continued organic growth, SIRC had announced.  Executive Management Of Solar Integrated Roofing Corp. (OTC PINK: SIRC) Discuss Forward Operations With Financial Community Last Night After It  Announces Q3 Financials And Seven Pending Acquisitions.

The infusion of $42 million capital by Arbiter into SIRC enabled SIRC to fund the seven proposed acquisitions Massey said, “These all-cash, no-dilution planned acquisitions are made possible through our strong relationship with Arbiter Bank, who has served as a valued financing source — enabling our mutual growth. We anticipate that these acquisitions, given the inherent synergies from being part of the SIRC family or companies, have the potential to pay for themselves within two years.”

He said the transactions in aggregate would cost SIRC $21.6 million in cash and, in turn, would generate a combined $78 million in incremental annualized revenue. The acquisitions are subject to final due diligence, negotiation and execution of a definitive purchase agreement and all necessary approvals.

Last night, Massey said that thee Company was updating and polishing its official presentation deck made at various investor conferences.

Diaz said that he hoped to grow the seven companies planned to be acquired by SIRC. “Sometimes, companies hit plateaus in their growth for a number of reasons. Before we at USA Solar Networks were acquired by SIRC we experienced the same thing. We couldn’t break the $20 million barrier.”

Massey said SIRC is still waiting for final news on its application for some $80 million in government EV Charging Station grants. “I talk with our lobbyist, and he is optimistic. But I have not heard anything definitive yet.”  Executive Management Of Solar Integrated Roofing Corp. (OTC PINK: SIRC) Discuss Forward Operations With Financial Community Last Night After It  Announces Q3 Financials And Seven Pending Acquisitions.

To work around the supply chain issues, he revealed that SIRC has been successfully sourcing solar batteries from Enphase Energy (NASDAQ: ENPH) — a major solar material manufacturer.

Massey and Diaz discussed the success SIRC is having with several projects —  including creating a new micr-grid to provide energy electricity for an agricultural farm. Dias said that success could translate into more, similar projects in other locations in the future.

 

SIRC has signed LOIs for the seven Companies acquisitions it plans to acquire. They are:

  • Standard Eco, a licensed, engineering procurement and construction (EPC) solar provider with a presence in five states and more than 4,000 solar installations.
  • Eco Management, a licensed EPC solar provider with a presence in four states and more than 2,000 solar installations.
  • BVI Solar, a California licensed roofer and solar contractor which has been party to more than 1,000 solar installations.
  • Bel Aire Construction and Development , an established property development firm. It drives the development of green housing developments, driving notable synergies across the SIRC family of companies.
  • Music City Roofing, a highly rated roofer in Tennessee, with more than 5,000 roofs replaced and more than 3,400 roofs repaired since inception. It has a charitable mission centered on giving back to the local community.
  • Heartland Construction, a licensed EPC and a premier west Texas solar provider, which has prior served as a lucrative referral source for SIRC. It has referred an EV Charging Station contract spanning over 200 apartment complexes as well as several high-value solar projects.

Executive Management Of Solar Integrated Roofing Corp. (OTC PINK: SIRC) Discuss Forward Operations With Financial Community Last Night After It Announces Q3 Financials And Seven Pending Acquisitions

Learn more about SIRC at https://www.solarintegratedroofing.com/corporate-governance/leadership/.

Source: Stock Market Press

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