SOLAR INTEG ROOFING CORP - SIRC STOCK NEWS

Solar Integrated Roofing Corp. (OTC PINK:SIRC) reported record year-to-date sales of $110 million as of May 20, 2022, with a potential annualized sales run rate exceeding $400 million by year-end. Key divisions, including Roofing and Residential Solar, demonstrated strong sales performance, with $9.3 million and $44.4 million respectively. The EV division secured a significant federal contract related to electric vehicle charging. The company's robust growth is driven by strategic acquisitions and effective marketing initiatives.

Solar Integrated Roofing Corp. (SIRC) reported remarkable first-quarter results for 2022, achieving a 682% increase in revenue to $27.0 million, compared to $3.5 million in the same quarter of 2021. The company transitioned to a traditional December 31 fiscal year and posted a net income of $5.7 million, a turnaround from a net loss of $2.3 million in Q1 2021. Notable achievements include a $45 million co-development agreement for solar projects in Georgia and a five-year agreement with the U.S. General Services Administration to install EV charging stations.

Solar Integrated Roofing Corp. (OTC PINK:SIRC) announced that its EV charging subsidiary, Pacific Lighting Management (PLEMCo), received a five-year Blanket Purchase Agreement from the U.S. General Services Administration to support a $5 billion federal initiative for electric vehicle (EV) charging infrastructure. The contract focuses on supplying Level 2 and Level 3 EV chargers and positions PLEMCo as one of only sixteen firms authorized to potentially provide over 500,000 charging stations. With significant industry tailwinds, the EV charging market is forecasted to exceed $28.4 billion by 2028, enhancing SIRC's strategic shift towards EV projects.

Solar Integrated Roofing Corp. (OTC PINK:SIRC) announced participation in two major investor conferences: the Planet MicroCap Showcase 2022 on May 4 in Las Vegas and the LD Micro Invitational XII on June 7-8 in Los Angeles. Management will conduct one-on-one meetings and present at the Planet MicroCap event at 8:30 PM ET. A live audio webcast of this presentation will be accessible online. The company specializes in solar power, roofing systems, and EV charging solutions across the U.S.

Solar Integrated Roofing Corp. (OTC PINK: SIRC) reported impressive financial results for the fiscal year ended December 31, 2021, showing a remarkable 388% revenue growth to $84.2 million compared to $17.3 million in 2020. The company also achieved a net income of $19.9 million, a significant turnaround from a net loss of $7.7 million the previous year. Key developments include securing major solar projects worth $45 million and $36 million in Georgia and Arizona, respectively. The company aims to uplist to OTCQB and NASDAQ to enhance shareholder value.

Solar Integrated Roofing Corp. (OTC PINK:SIRC) plans to file its audited financial statements for the year ended December 31, 2021, on April 4, 2022. The company will also change its fiscal year to align with the calendar year.

In addition, Solar Integrated Roofing intends to rebrand as SolarEV, highlighting its focus on solar and electric vehicle (EV) charging projects. CEO David Massey stated that completing the financial filing is crucial for pursuing a NASDAQ uplisting, which aims to enhance liquidity and attract a broader shareholder base.

Solar Integrated Roofing Corp. (OTC PINK:SIRC) has announced its partnership with International Monetary, a merchant banking and advisory firm, to develop a strategic advisory program aimed at connecting SIRC with a network of accredited investors and analysts. CEO David Massey emphasized the focus on acquiring attractively priced companies to enhance revenue through synergies. International Monetary's Managing Director highlighted SIRC's growth and acquisition pace as reasons for supporting its expansion, aiming for record revenue achievement within its sector.

Solar Integrated Roofing Corp. (OTC PINK:SIRC) has entered into a strategic pricing agreement with Enphase Energy and a tier-1 solar panel supplier, aiming to enhance cost-effectiveness across its installations. This agreement decreases hardware costs by over 25%, reducing the estimated price from $1.15 to $0.85 per watt. Leveraging over 250 sales teams across 40 states, SIRC anticipates improved margins and profit potential, projecting up to 3,000 kW in residential volumes monthly. Customers will benefit from a 25-year warranty and low financing options.

Solar Integrated Roofing Corp. (OTC PINK:SIRC) announced a shift to prioritize its electric vehicle (EV) charging projects, with an expected sales run rate exceeding $400 million annually post-acquisition. The company aims to focus on a $30 million project pipeline and $20.2 million backlog in EV charging, complemented by an LOI for acquiring three installers with over $100 million in contracts. The firm will also rebrand to SolarEV, reflecting its strategic emphasis on solar and EV charging amid growing market opportunities driven by federal funding and projected EV adoption.