Solar Integrated Roofing Corp. (OTC PINK: SIRC) Purchasing And Retiring 5,000,000 Shares Of Preferred Stock, Convertible To 50,000,000 Shares Of Common, From Brian Milholland, Retiring From SIRC But Remaining As Consultant
In s move designed to reduce dilution, Solar Integrated Roofing Corp. (OTC PINK: SIRC) announced today (July 27, 2021) it has commenced a share buyback program through a series of purchases to retire shares of its common stock. The initiative calls for SIRC to purchase and retire 5,000,000 shares of preferred stock, convertible to 50,000,000 shares of common, from Brian Milholland, who is retiring as president of SIRC but will continue as a consultant to the company. Milholland was named president of SIRC in March 2020 when David Massey, CEO of SIRC, called him a “solar guru.” SIRC acquired Milholland Electric in January 2020.
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), 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).
Solar Integrated Roofing Corp. (OTC PINK: SIRC) Purchasing And Retiring 5,000,000 Shares Of Preferred Stock, Convertible To 50,000,000 Shares Of Common, From Brian Milholland, Retiring From SIRC But Remaining As Consultant
David Massey, CEO of SIRC said, “In an effort to reduce dilution and drive shareholder value, the company will be making a series of share buybacks beginning with today’s announced purchase of Brian’s preferred shares. It’s truly been a privilege to work alongside Brian, as his impact over over the past year has been immeasurable in helping us build towards the company we are today.
“We will certainly miss his full-time support, though we appreciate his agreement to remain with us in a consulting role, where his knowledge and expertise can continue to guide us moving forward. We wish him the very best in retirement.” Solar Integrated Roofing Corp. (OTC PINK: SIRC) Purchasing And Retiring 5,000,000 Shares Of Preferred Stock, Convertible To 50,000,000 Shares Of Common, From Brian Milholland, Retiring From SIRC But Remaining As Consultant.
At the time in January 2020 when SIRC acquired Mulholland Electric, it announced it was at a $25 million run rate on revenues. Today, it has said its volume for FY 2022 is tracking to some $150 million as it grows its organic sales.
David Massey, CEO of SIRC, told shareholders recently in his first live Q&A session that the company is now tracking towards a $150 million volume in FY 2022. His vision for later performance is for a company doing $250 million annually with a $25 million gross profit. Solar Integrated Roofing Corp. (OTC PINK: SIRC) Purchasing And Retiring 5,000,000 Shares Of Preferred Stock, Convertible To 50,000,000 Shares Of Common, From Brian Milholland, Retiring From SIRC But Remaining As Consultant.
Learn more about SIRC at https://www.solarintegratedroofing.com/corporate-governance/leadership/.
Source: Stock Market Press
Join Stock Market Press’ newsletter for the latest in IPO, market commentary and company profiles.
Stock Market Press is a financial news company that delivers up to date stock news, introduces private and public companies to a wide audience of investors, consumers, journalists and the general public via social media and a rapidly expanding network.
Contact:
Stock Market Press
110 Wall St.
New York, NY 10005 info@stockmarketpress.com https://twitter.com/PressStock
Safe Harbor Statement:
Statements in this news release may be ”forward-looking statements.” Forward-looking statements include, but are not limited to, statements that express our intentions, beliefs, expectations, strategies, predictions or any other statements relating to our future activities or other future events or conditions. These statements are based on current expectations, estimates and projections about our business based, in part, on assumptions made by management. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Therefore, actual outcomes and results may, and are likely to, differ materially from what is expressed or forecasted in forward-looking statements due to numerous factors. Any forward-looking statements speak only as of the date of this news release and Stock Market Press undertakes no obligation to update any forward-looking statement to reflect events or circumstances after the date of this news release.
See Stock Market Press disclaimer: https://stockmarketpress.com/disclaimer/ SOURCE: Stock Market Press
