Solar Integrated Roofing Corp. Files Form 10 Registration Statement to Become a Fully Reporting Company with the SEC

Rhea-AI Summary

Solar Integrated Roofing Corp. (OTC: SIRC) announced the filing of a Form 10 Registration Statement with the SEC to become a fully reporting company. This filing will take effect in 60 days, imposing compliance with U.S. GAAP and Exchange Act reporting requirements, thereby enhancing transparency for investors. CEO David Massey emphasized this milestone as a step towards attracting sophisticated investors and pursuing a NASDAQ uplisting, which aims to create long-term value for shareholders.

Positive

• Filing of Form 10 enhances transparency and credibility, attracting sophisticated investors.
• Transition to SEC reporting may pave the way for NASDAQ uplisting.

Negative

• None.

HENDERSON, Nev., Sept. 09, 2022 (GLOBE NEWSWIRE) -- Solar Integrated Roofing Corp. (OTC: SIRC), an integrated, single-source solar power, roofing systems installation and EV charging company, today announced the filing of a Form 10 Registration Statement with the U.S. Securities and Exchange Commission (“SEC”) to register its common stock under Section 12 of the Securities Exchange Act of 1934 and become a fully reporting company.

The Form 10 registration statement automatically becomes effective sixty days post-filing. Following the effective date, the Company will be subject to the reporting requirements of the Exchange Act. The Company will begin filing annual reports with the SEC on Form 10-K, quarterly reports on Form 10-Q, periodic reports on Form 8-K, and subject itself to additional reporting obligations related to proxies, shareholder actions and stock ownership rules. The Company will also be subject to U.S. GAAP reporting requirements with respect to the reports it files with the SEC. The increased regulatory oversight and credibility of being a SEC reporting company will assist investors in making more informed and educated investment decisions about the Company.

David Massey, Chairman and CEO of Solar Integrated Roofing Corp., said: “The filing of the Form 10 registration statement is a crucial milestone in our newly redoubled, multi-pronged efforts to provide increased transparency and accountability to my fellow shareholders. Our transition to a fully reporting company with the SEC brings a new level of credibility to SIRC, enabling us to attract more sophisticated investors and move forward towards a NASDAQ uplisting. I look forward to continued capital markets execution in the quarters ahead as we strive to create sustainable, long-term value for our shareholders.”

About Solar Integrated Roofing Corp.

Solar Integrated Roofing Corp. (OTC:SIRC), is an integrated, single-source solar power, roofing systems installation and EV charging company specializing in commercial and residential properties throughout the United States. The Company serves communities by delivering the best experience through constant innovation & legacy-focused leadership. The Company's broad array of solutions include sales and installation of solar energy systems, battery backup and electric vehicle (EV) charging stations to roofing, HVAC and related electrical contracting work. For more information, please visit the Company's website at www.solarintegratedroofing.com.

Forward-Looking Statements

Any statements made in this press release which are not historical facts contain certain forward-looking statements; as such term is defined in the Private Security Litigation Reform Act of 1995, concerning potential developments affecting the business, prospects, financial condition and other aspects of the company to which this release pertains. The actual results of the specific items described in this release, and the company's operations generally, may differ materially from what is projected in such forward-looking statements. Although such statements are based upon the best judgments of management of the company as of the date of this release, significant deviations in magnitude, timing and other factors may result from business risks and uncertainties including, without limitation, the company's dependence on third parties, general market and economic conditions, technical factors, the availability of outside capital, receipt of revenues and other factors, many of which are beyond the control of the company. The company disclaims any obligation to update the information contained in any forward-looking statement. This press release shall not be deemed a general solicitation.

Investor Relations Contact:
Lucas A. Zimmerman
Director
MZ North America
Main: 949-259-4987
SIRC@mzgroup.us
www.mzgroup.us

FAQ

What is the significance of Solar Integrated Roofing Corp.'s Form 10 filing?

The Form 10 filing enables Solar Integrated Roofing Corp. to become a fully reporting company, enhancing credibility and transparency for investors.

When does the Form 10 registration statement take effect for SIRC?

The Form 10 registration statement will automatically become effective 60 days post-filing.

How will becoming a fully reporting company impact SIRC?

Becoming a fully reporting company will subject SIRC to increased regulatory oversight and U.S. GAAP reporting requirements.

What are the future goals for Solar Integrated Roofing Corp. after the Form 10 filing?

SIRC aims to attract more sophisticated investors and move towards a NASDAQ uplisting for greater market visibility.