Solar Integrated Roofing, Inc.
Signs LOI to Acquire $5 Million Dollar Sales and Marketing Company
in California
Poway, CA --
September 1, 2020 -- InvestorsHub NewsWire
-- Solar
Integrated Roofing Corporation (OTC
PINK:
SIRC),
a leading integrated solar and roofing installation company, is
pleased to announce the company has signed a Letter of Intent (LOI)
to acquire a $5 Million
California based solar sales and marketing Company. This
acquisition is in the latter stages of negotiations and all parties
involved are working on completing the necessary due diligence to
finalize this deal. The target acquisition is an
established
solar company with a robust customer base in San Diego Ca, Orange
County Ca, and the greater Phoenix Metropolitan area. Currently
boasting a 50% profit margin, revenue is expected to increase by $2
Million per month, per region, for a total gain of $ 6 Million
per month.
Dave Massey,
CEO of Solar Integrated Roofing Inc. stated "The Company
has
experienced strong growth in recent months as the entire solar
energy sector continues to heat up. We feel this acquisition will
enhance our current business model, as
it uses a unique door-to-door sales model, limiting overhead costs,
and increasing awareness of our company. We are currently
well-positioned with on the ground associates who are duly equipped
to handle the influx of new business. Our internal milestone
is to obtain 100 installations per month in the three regions and
we fully expect this to be easily obtainable."
Mr. Massey
continued "This acquisition will strengthen our operations in the
Southern California region. This purchase will also
serve to
establish our corporate footprint in the Greater Phoenix and
surrounding Metropolitan areas in Arizona, which has a combined
population of over 12 million. Currently, the market is fragmented,
with many small solar companies fighting for market
share. We had
previously committed to the expansion into the Albuquerque
Nm. market,
this
acquisition
will firmly establish our company as a dominant force in the
Southwestern United States as well as in the whole Solar Energy
sector."
About Solar
Integrated Roofing
Corporation:
Solar
Integrated Roofing Corporation is an integrated solar and roofing
installation company specializing in commercial and residential
properties with a focus on acquisitions of like companies to build
a footprint nationally. The Company is
focused on becoming a nationwide leader in green energy by
employing an effective strategy for solar and roofing needs by
making it cost-effective and energy-efficient. For more information
please visit: www.solarintegratedroofingcorp.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.
Contact
info:
SOLAR
INTEGRATED ROOFING CORPORATION
1475 N.
Cuyamaca
St.
El
Cajon,
CA 92020
www.solarintegratedroofingcorp.com
Phone:
(858) 437 5330
dmassey@sircfamily.com
