Solar Integrated Roofing Corp.’s (OTC PINK: SIRC) Newly Named Executive Team Focuses On Up Listing, Growth And Becoming A Fully Reporting Company
Solar Integrated Roofing Corp.’s (OTC PINK: SIRC) newly named Executive Team, including George B. Holmes, CEO; Stefan Abbruzzese, president; and Martin McDermut, CFO, are focused on an up listing to NASDAQ in 2023 and becoming a fully reporting Company. David Massey, SIRC founder, continues as Co-Chairman through SIRC’s planned up list to NASDAQ, the Company said.
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), EVgo (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).
Solar Integrated Roofing Corp. recently reported a Q3 2022 333%+ volume growth performance. Revenue in Q3 2022 jumped to $57.3 million, a 333% increase, while net income rose to $6.2 million vs. a net loss of $1.7 million in Q3 of 2021. It also filed a Form 10 Registration Statement with the SEC positioning itself for an up list.
By strengthening a broader and new Executive Team, Solar Integrated Roofing Corp. (OTC PINK: SIRC) is readying itself for a possible up list to NASDAQ next year.
It is also poised to focus on issues such as financial controls, M&A, SEC reporting experience and finance functions as it plans for more SIRC growth as a fully reporting company. Holmes noted that McDermut — as a CPA — has a strong record in strategic and financial planning as well as business development.
McDermut added, “As we work towards achieving a NASDAQ listing, building up our finance capabilities is paramount.”
SIRC is already reporting sharp growth performance. For its Q3 ending the three months September 30, 2022, the Company showed new growth in its commercial solar contracts. It anticipates revenue expected from its remaining performance obligations of $291.6 million as of September 30, 2022.
Massey of SIRC said, “The third quarter of 2022 was highlighted by the increasing pace of operational execution, as evidenced by our 333%, year-over-year revenue growth and strong profitability.”
SIRC is in the attractive alternative energy industries including solar power and electric vehicle charging stations. These are seen as fast-growth sectors supported by the Biden Administration’s financial support.
Source: Stock Market Press
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