SIRC - Solar Integrated Roofing Corp.
- Solar Integrated Roofing - Growth Powered by Acquisition - May 3, 2022: Solar Integrated Roofing Corporation (OTCPINK: SIRC) is growing its way to becoming a significant player in the solar power, roofing and EV charging industries. A very aggressive strategy of growth by acquiring established companies throughout the U.S. has resulted in significant revenue and profita
History[edit]
Solar Integrated Roofing Corporation (OTC: SIRC) is a commercial and residential solar and roofing installation firm in San Marcos, California. The company was originally founded in Nevada on May 1, 2007, and was formerly known as Sterling Oil & Gas Company which served as an oil and gas development company. It then changed its name to Landstar Development Group on February 21, 2014, in connection with a shift in operations to manage and develop the company's real estate assets.
The board of directors authorized a corporate name change to Solar Integrated Roofing Corp on November 9, 2015, in connection with the planned acquisition of a fully owned subsidiary, Secure Roofing and Solar, Inc., which was completed in February 2016. Since then, the company has been in the solar and roofing sales and installation business. SIRC emphasizes the acquisition of similar companies to expand its reach nationally. The company is working to establish itself as a national leader in solar energy by implementing a cost-effective and energy-efficient approach to solar and roofing needs. [1].
Leadership[edit]
The leadership team in SIRC includes David Massey as CEO with over 30 years of experience and Pablo Diaz as the president, who was awarded Top Dynamic CEO by CEO Magazine in 2020 and has proven experience in generating over $250 million dollars for solar projects throughout the US and Canada.[2]
Operations[edit]
The energy industry is constantly evolving, and to stay ahead of the curve, it is important for companies to embrace the change. SIRC started as an Oil & Gas Company and then turned its focus into a solar installation company. Currently, Solar Integrated Roofing Corp. is dedicated to offering integrated, single-source solar power, heating, ventilation, and air conditioning (HVAC) and roofing solutions, as well as green energy, across the United States (USA). Electric car charging stations are also available from the company for business and residential use. The company operates in about 40 different states.
As part of its planned rebranding to better reflect an expanded emphasis on solar and EV charging components of its business, the company expects its corporate name change to "SolarEV" to be authorized by FINRA in the coming weeks. With over $30 million in electric vehicle (EV) charging projects in the pipeline and a $20.2 million EV charging project in the backlog, the company has made a strategic shift in EV and hopes to position the company for another historic and record-breaking year.[3]
Competition[edit]
The main competitors of Solar Integrated Roofing include Genel Energy (GEGYY), Contango Oil & Gas (MCF), Central Puerto (CEPU), Permian Basin Royalty Trust (PBT), Falcon Minerals (FLMN), SandRidge Energy (SD), REX American Resources (REX), Gran Tierra Energy (GTE), Gran Tierra Energy (GTE), and Energy Vault (NRGV). They are all part of the oil and energy industry and are worth checking out.[4].
Financials[edit]
Revenue for 2021 was $84.2 million, which is a 388% increase over 2020. Net income was $19.9 million vs. a loss of $7.7 million in 2020. [5] Convertible debt has been an issue for the company during its growth phase the past two years. A deal with Arbiter capital in April 2022 seems to have addressed the problem by providing $200 million in financing. [6]
- ↑ United States Securities and Exchange Commission
- ↑ Solar Integrated Roofing Corporation's official website
- ↑ Press release
- ↑ Market Beat
- ↑ Solar Integrated Roofing Corp. Reports Record Full Year 2021 Audited Financial Results
- ↑ Reddit - SIRC Q&A April 21, 2022 - Summary ---> Arbiter funds Imminent - Plan B Outlined
More News: Company News | OTC Markets
- Company website - April 29, 2022:
- Interview with CEO David Massey - April 22, 2022: On MoneyTV with Donald Baillargeon, Solar Integrated Roofing Corporation (OTCPINK: SIRC) CEO David Massey laid out the roadmap to Nasdaq.
- Twitter - March 1, 2022:
- Reddit - March 1, 2022:
- Investors Hub - April 1, 2022: A lot of good discussion about SIRC. IHub is usually not good for dd but there are some interesting posts.
Marginally bullish on this stock. It's nice to see the convertible debt being eliminated, along with revenue growth and profitability. It's a pink sheet stock so that is keeping the investor pool limited. If they can uplist to OTCOB then stock price might be more reflective of what they have accomplished. Uplisting to NASDAQ would be huge. Every OTC stock says this so we will have to wait and see, but they do seem to have everything in place except the stock price. Reverse split seems to be the only way to make that happen.
