Solar Integrated Roofing Corp. Provides Corporate and Operational Update
HENDERSON, Nev., Nov. 03, 2023 (GLOBE NEWSWIRE) — Solar Integrated Roofing Corp. (OTC: SIRC) (“SIRC” or the Company”), an integrated, single-source solutions provider of solar power, roofing and EV charging systems CEO Brad Rinehart answers questions asked by shareholders based on Press Release dated October 30, 2023.
Calaway Project: Project engineering and design are completed, and the scope of materials and pricing has been completed. There are no permitting requirements for the energy plan as this project is completely off grid and self-contained. We are still awaiting access to the property which needs to be secured by the project owners to begin the construction phase of the project.
Tribeca Energy: SIRC remains committed to honoring our letter of commitment with Tribeca Energy. We have continued to provide information and materials to Tribeca Energy. The timing on the uplist is still undetermined currently. SIRC Executive management feels that our valuation will continue to improve over time and that there is no rush to consummate this arrangement prematurely. As we continue to focus on cost controls, profitable revenue growth, and debt reduction we believe that our valuation will continue to increase, making the uplist more attractive to shareholders when the valuation has improved.
Debt Reduction: We currently have court approval to start another tranche of debt reduction with Continuation Capital to settle debt with the use of proceeds from share sales which have been reserved for that purpose.
Arbiter Update: This is the most recent response from the Arbiter Capital Management Team based on an October 30th query. Per Ben Weinger at Arbiter Capital “We are expecting a final draft of the audit by the end of October. Once it is final, I will forward it to you along with a business plan for the bank.” We are expecting this anytime.
Diaz Settlement: Terms of court settlements are public records and available to anyone who wants to look them up.
About Solar Integrated Roofing Corp.
Solar Integrated Roofing Corp. (OTC: SIRC) is an integrated, single-source solutions provider of solar power, roofing and EV charging systems, specializing in commercial and residential properties throughout North America. The Company serves communities by delivering the best experience through constant innovation & legacy-focused leadership. For more information, please visit the Company’s Investor Relations website at www.solarintegratedroofing.com, Corporate website at https://www.sirc.com/ or join us on Twitter, LinkedIn or Facebook.