HENDERSON, Nev., Sept. 28, 2023 (GLOBE NEWSWIRE) -- Solar Integrated Roofing Corp. (OTC: SIRC) (“SIRC” or the Company”), an integrated, single-source solutions provider of solar power, roofing and EV charging systems, provided a corporate and operational update.
“Our plan to consolidate operations while growing revenue and improving margins remains on course,” said Brad Rinehart, Chief Executive Officer of SIRC. “We just launched our new, consolidated facility in San Diego for our McKay and Milholland subsidiaries and we are finalizing the tenant improvements for the property this week.
“We continue to have a dialog with Tribeca Energy on the Letter of Commitment we have with them. We are working towards consummating that arrangement when both Tribeca Energy and SIRC are prepared to do so and at a valuation that will enable shareholders to benefit from the transaction.
“Our revenue remains strong across our roofing, solar, and EV Charging infrastructure businesses. We have continued to reduce headcount where appropriate to focus our payroll on construction projects and eliminate administrative costs where we can. We are going to start posting our current construction projects more frequently on our various social media platforms so shareholders can see the quality work and progress we are making on our installations across all divisions.
“Finally, our strategy to continue to reduce debt and improve our balance sheet also remains on course. We continue to use a third-party company to sell shares and retire debt. We are also continuing to aggressively pursue positive outcomes for previously announced pending litigation. These two initiatives were undertaken to contribute to long-term shareholder value in anticipation of the Tribeca Energy transaction which remains on track,” concluded Rinehart.
October 2023 Investor Update Podcast
SIRC will host an investor update podcast with the Company's Chief Executive Officer, Brad Rinehart in early October. The podcast will be available on the official SIRC YouTube channel at https://www.youtube.com/@SIRC_Official.
About Solar Integrated Roofing Corp.
Solar Integrated Roofing Corp. (OTC: SIRC) is an integrated, single-source solutions provider of solar power, roofing and EV charging systems, specializing in commercial and residential properties throughout North America. The Company serves communities by delivering the best experience through constant innovation & legacy-focused leadership. For more information, please visit the Company's Investor Relations website at www.solarintegratedroofing.com, Corporate website at https://www.sirc.com/ or join us on Twitter, LinkedIn or Facebook.
Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by words such as: “anticipate,” “intend,” “plan,” “goal,” “seek,” “believe,” “project,” “estimate,” “expect,” “strategy,” “future,” “likely,” “may,” “should,” “will” and similar references to future periods. Examples of forward-looking statements in this press include, among others, statements about our renegotiated settlement agreement. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Our actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important factors that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements include, among others, the following: our limited operating history; our dependence on third parties for many aspects of our business; general market and economic conditions; technical factors; the availability of outside capital; our receipt of revenues; legislative developments; changes in our expenditures and other uses of cash; our ability to find, recruit and retain personnel in sufficient numbers to support our growth; our ability to manage growth; and general market, economic and business conditions. Additional factors that could cause actual results to differ materially from those anticipated by our forward-looking statements are under the captions “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in our most recent Registration Statement on Form 10 or Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission. Any forward-looking statement made by us in this press release is based only on information currently available to us and speaks only as of the date on which it is made. We undertake no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise.
Investor Relations Contact:
Michael Kim/Brooks Hamilton
MZ North America
+1 (949) 546-6326
SIRC@mzgroup.us
www.mzgroup.us
