SHARC INTL SYS INC - INTWF STOCK NEWS

SHARC Energy (CSE: SHRC, OTCQB: INTWF) reported Q2 2024 financial results, showing positive growth trends:

• YTD 2024 revenue reached $1.56M, representing 98% of full-year 2023 revenue
• Q2 2024 revenue increased 72% YoY to $0.78M
• Sales Order Backlog grew 16% to $2.7M since May 16, 2024
• Gross margins for Q2 and YTD 2024 were 41% and 40%, respectively

The company closed a $2M debenture financing and expanded its PIRANHA system reach into California. SHARC Energy continues to progress on key projects, including the False Creek NEU Expansion and installations in New York, indicating growing market acceptance of its thermal energy network solutions.

SHARC Energy has successfully closed a non-brokered private placement, raising $2 million through the sale of debenture units priced at $1,000 each. Each unit includes an 8% unsecured debenture and 5,000 common share purchase warrants, exercisable at $0.20 per share for 36 months. This financing will provide the company with the necessary working capital to support its growth and conversion of its sales pipeline into purchase orders. The debentures bear an annual interest rate of 8% and are repayable anytime before the maturity date. A 10% blocker provision restricts warrant exercise beyond a 10% holding. The proceeds will be used for working capital and general corporate purposes, enhancing SHARC Energy's position in the green technology sector.

SHARC Energy has announced a non-brokered private placement to raise up to $2 million through the issuance of up to 2,000 debenture units priced at $1,000 each. Each unit includes an 8.0% unsecured debenture and 5,000 common share purchase warrants. The debentures will be utilized for working capital and corporate growth. The warrants allow for the purchase of common shares at $0.20 per share for 36 months. There is no minimum number of units required to close the offering, and it can be closed in multiple tranches. Closing is subject to regulatory approvals, and securities issued will have a statutory hold period of four months plus one day.

On May 16, 2024, SHARC Energy (OTCQB: INTWF) reported its Q1 2024 financial results.

Key highlights include a Sales Pipeline of $17M and a Sales Order Backlog of $2.3M. Revenue for Q1 2024 was $0.8M, up 6% YoY, with a gross margin of 38%.

The company holds $2M in working capital and is debt-free. Important projects include PIRANHA pilot sites in Massachusetts, a mixed-use development in California, the False Creek NEU Expansion, a retrofit project in Yonkers, and a major Brooklyn redevelopment.

SHARC Energy is positioning for growth, leveraging its Sales Order Backlog for funding and expanding its footprint in North America.

SHARC Energy, a leader in wastewater energy transfer, received unanimous approval from the Massachusetts Board of State Examiners of Plumbers and Gas Fitters for ten PIRANHA pilot sites. The approval aims to showcase the effectiveness of WET systems across various sectors. SHARC Energy's collaboration with Eversource Energy and UA signifies strong industry support for WET technologies. Massachusetts' focus on decarbonization and promotion of Thermal Energy Networks (TENs) aligns with SHARC Energy's expansion strategy. The legislative support for TENs in Massachusetts and other states sets a favorable environment for SHARC Energy's growth. The company's systems are eligible for investment tax credits, further incentivizing adoption. Overall, SHARC Energy anticipates significant growth and profitability in the WET sector.

SHARC Energy announced its 2023 year-end financial results, with a Sales Pipeline of 16.9M and Sales Order Backlog of $3.1M, showing significant growth. The company reported revenues of $1.6M for YE 2023, with an improved gross margin of 43%. Despite challenges like fluctuating interest rates, SHARC Energy remains optimistic about future revenue growth.

SHARC International Systems Inc. experiences a significant acceleration in pipeline conversion, leading to a 120% increase in Sales Order Backlog, equating to an additional $1.8 million CDN. The Company's innovative PIRANHA and SHARC WET systems are gaining momentum with new projects in submittals, showcasing growth in various sectors like universities, water utilities, and correctional facilities. International sales interest is also on the rise, indicating promising opportunities for SHARC Energy.

SHARC International Systems Inc. announces a purchase order for four PIRANHA T15 Wastewater Energy Transfer (WET) systems to be installed in a 26-story mixed-use development in downtown Berkeley, California. This marks the largest single PIRANHA installation in the Company’s history and the first SHARC Energy installation in California. The project aims for LEED Gold certification, leveraging the PIRANHA WET system's capability to efficiently extract thermal energy from wastewater. The system demonstrates exceptional performance, generating four dollars' worth of output for every dollar of energy used. The installation not only reduces greenhouse gas emissions but also provides operational cost savings. SHARC Energy's President and CEO, Lynn Mueller, expresses satisfaction in supporting sustainable development through this installation, while CHC Hydro's Division Business Development Manager, David Anderson, highlights the efficiency of the PIRANHA and the bright future of WET on the West Coast.

SHARC International Systems Inc. (CSE: SHRC) (FSE: IWIA) (OTCQB: INTWF) announces filing of financial results for the nine months ended September 30, 2023, with highlights including a 6% growth in sales pipeline and a 38% reduction in sales order backlog, along with a 567% increase in Q3 2023 revenue compared to Q3 2022.