SOLAR INTEG ROOFING CORP - SIRC STOCK NEWS

Solar Integrated Roofing Corp. reported preliminary, unaudited sales of $10.5 million in July 2021, marking a 600% increase from the same month in 2020 and surpassing its previous record set in June 2021. CEO David Massey expressed optimism for continued growth, targeting a $150 million annual sales run rate. The company cites successful marketing strategies and integration of acquisitions like USA Solar Network and Future Home Power as key drivers. Additionally, a share buyback program aims to enhance long-term shareholder value.

Solar Integrated Roofing Corp. (OTC PINK:SIRC) has initiated a share buyback program aimed at reducing dilution and enhancing shareholder value. The company plans to purchase and retire 5,000,000 shares of preferred stock, convertible to 50,000,000 shares of common stock, from outgoing President Brian Milholland, who will transition to a consulting role. This strategic move is intended to bolster confidence in the company's future viability and drive shareholder returns.

Solar Integrated Roofing Corp (OTC PINK:SIRC) plans to acquire Approved Home Pros, a well-known home improvement media producer, enhancing its media and marketing capabilities. This acquisition is projected to generate approximately $11 million in additional revenue, largely through synergies between SIRC's operations and Approved Home Pros' specialized referral services. CEO David Massey highlighted the expected growth potential from leveraging this asset, which previously supported the success of Milholland Electric Inc. The acquisition will finalize on July 31, 2021.

Solar Integrated Roofing Corp. (OTC PINK:SIRC) reported record sales exceeding $10 million for June 2021, largely fueled by growth from recent acquisitions, including Future Home Power, which contributed over $6 million. CEO David Massey emphasized that the acquisitions positively impacted monthly sales, supporting SIRC's aim of achieving $100 million in annual sales. The company's focus will shift to optimizing profitability after completing key acquisitions, positioning itself for growth in the upcoming seasonal months.

Solar Integrated Roofing Corp. (OTC PINK:SIRC) announced its acquisition of USA Solar Network, projected to generate $50 million in incremental sales annually starting in 2022. This strategic acquisition enhances SIRC's ability to expand its footprint in the solar and EV charging markets, leveraging USA Solar Network's existing network across 37 states. CEO David Massey highlighted that the acquisition will drive 50-100% growth in sales and improve profitability while emphasizing a shift towards organic growth after this acquisition.

Solar Integrated Roofing Corp. (OTC PINK:SIRC) announced a live Q&A event with investors via Discord, scheduled for July 19, 2021, at 7:00 PM EST. The event aims to enhance communication with shareholders and showcase the company's progress in solar and roofing solutions. CEO David Massey emphasized the importance of transparent dialogue with the investment community. The company provides a range of services, including solar energy systems, EV charging stations, and HVAC work. For more details, visit the company website.

Solar Integrated Roofing Corp. (OTC PINK:SIRC) reported a remarkable 187% increase in FY 2021 revenues, reaching $17.1 million, up from $9.1 million in FY 2020. The company anticipates revenues to exceed $100 million for the year ending May 31, 2022, driven by multiple acquisitions in solar and roofing sectors. Despite a net loss of $5.9 million and operating expenses totaling $7.8 million, SIRC aims for profitability in FY 2022. Management highlights ongoing integration of acquisitions and the potential for significant growth in the solar and battery markets.

Solar Integrated Roofing Corp. has appointed Troy Clymer as its new Chief Operating Officer, effective immediately. Clymer, previously CEO of Balance LLC, will focus on implementing operational standards across the company's brands to enhance synergy and expedite the path to profitability. This leadership change aims to support the company's ongoing expansion and acquisition strategy. CEO David Massey emphasized Clymer's experience as vital for realizing the company's potential and delivering long-term shareholder value.