Solar Integrated Roofing Corp (SIRC)

[Televet]

Tribeca Energy Fund USD 133m

[Televet]

Looks like a merger with a $133M company

May 25, 2023 - 8:31 am
HENDERSON, Nev., May 25, 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, specializing in commercial and residential properties throughout North America, today announced that it has executed a binding Letter of Commitment (“LOC”) with Tribeca Energy, a holding company represented by Global Fund LLC & Neo Energy Storage Ltd.

The LOC sets out irrevocable terms and conditions under which SIRC commits to the sale of certain shares in return for investment by Tribeca Energy. The share exchange agreement will give Tribeca Energy 100% ownership of the Company’s shares as well as a majority of its board seats.

Letter of Commitment Terms

Tribeca Energy shall consummate a merger agreement to list on the NYSE/Nasdaq by October 30, 2023, pending completion of all relevant/necessary documents, and no later than 12 months from the time of this LOC.
SIRC shall not engage with any third party in a way that may result in the change in the capital structure of the Company until October 30, 2023, without a prior written consent of the Tribeca Energy.
Following the execution of the definitive agreements, the majority of the board of the Company shall be comprised of new members appointed by Tribeca Energy; Each new director is to resign should the contemplated merger not be consummated in 12 months with an option to extend for another 6 months.
“Our objective is to be the premier all-inclusive alternative energy solution in the market and this definitive agreement is another step in that direction,” said Brad Rinehart, Chief Executive Officer of SIRC. “The agreement will enable us to achieve our goals and we anticipate that it will yield results to SIRC’s bottom line, benefiting all our shareholders and constituents. We look forward to working with the entire teams at Tribeca Energy, Global Fund LLC and Neo Energy Storage Ltd which are dedicated to our shared success.”

Joe HQ Luong, Partner at Tribeca Energy and NEO Energy Storage Ltd, added: “Neo Energy Storage Ltd and Global Fund LLC have joined forces to form Tribeca Energy. Tribeca Energy is a vertically integrated holding company that is merging a group of outstanding companies in the renewable and long duration energy storage sector to go public in Q4 2023. We are thrilled to work with the team at Solar Integrated Roofing Corp to consolidate their already extensive solar proposition outreach and combine it with long duration energy storage to achieve our vision to decarbonize the world’s electricity grid systems by 2050 and transform the economy by building a sustainable future through energy security.”

Stephen Drew, Partner at Tribeca Energy and Global Fund LLC, added: “Global Fund is a 23-year-old private equity firm focused on investing in high-growth companies across various industries and geographies, pre-IPO. The firm specializes in acquiring small to medium-sized companies that can add value to our well-defined strategies. We are excited to work with their incredible and dedicated team at Solar Integrated Roofing Corp and merge them with our group of solar and long duration energy storage companies.”

[creakyhottie]

Shajandr
You wrote: WITKOWSKA (or whatever) is likely the whistleblower that is referred to

Where is that reference made?

Thanks

[Televet]

ditto

[Televet]

LOL is right. Ridiculous.

[WiseTrader55]

And pumpers like Televet and Mercutos will also be included in the SEC’s investigation. Organized pump and dump schemes are illegal and punishable with fines and jail-time.

[shajandr]

LOL! As if he has a choice to keep them. He will be disgorged of everything he has by the SEC and class action shareholder suits, and if he has any coins left the DOJ will take them in a forfeiture and fines from his criminal prosecution.

He may as well dump that shit now and pretend to look like a good guy so his lawyer can argue that to the jury.

Massey's life as he knew it is effectively over. All his assets will be taken and there is an exellent chance he will gett some prison time - nott a lott, prolly 24 months or so - depends on how many million$ have been lost by people in this securities fraud/wire fraud/money laundering case. The Federl Sentencing Guidelines calculation will dominate and they ramp up sentences as the amount of money LOST by victims increases. At the very absolute minimum, he will be wiped~OUTT financially butt do no prison time, just 3 to 5 years supervised probation with drug/alcohol testing.

Assuming he ever comes back from North Korea. :)

NEWBY will be seeing significant DaHole time as well as pauperiztion.

Both MASSEY and NEWBY have no professional future at this point They are over. Maybe driving an airport bus or Indy racing a forklift in a warehouse - that will be their maximum upside now.

WITKOWSKA (or whatever) is likely the whistleblower that is referred to as she hopes to save her own ass and void that felony CONviction on her resume as well as dodging prison and fines and lawyer fees. Butt she will have to agree to testify and cooperate fully.

MASSEY and NEWBY = kaput.

[Televet]

Massey cancels all his preferred A shares!

/https://www.otcmarkets.com/otcapi/company/financial-report/372002/content

[PEMBROKE1]

Hi Sammy boy,

I hope I am not stretching it.

Almond joy with Almonds?

[Sammy boy]

Almond Joy, yes, I’ll trade it ! Baby Ruth, Twix, not parting with those.

[creakyhottie]

Pembroke1

Be careful with those candies. They are death spiral---every day that passes, it converts into a larger amount of shares

[PEMBROKE1]

Thank you for the 3:00PM sell of. about 1,500,000 shares. Maybe at 4:00 we will get the same thing.
Wasn't there someone who offered a candy bar for shares of SIRC. Would you please contact me??

[jethro123]

ID LIKE ANOTHER LOVELY LETTER TO SHAREHOLDERS- IT WAS SO REASSURING - MAKES ME WANT TO STAY TILL TRIPLES - .OOO2

[jethro123]

THE ONLY WAY TO STRENGTHEN THIS MGNM. TEAM WOULD BE TO GET THEM ALL A 1 YR. MEMBERSHIP TO THE LOCALL GYMN. OOOOOOOOOOOOOOOHOOHOHO

[creakyhottie]

You were too kind. It took ten hours

[PEMBROKE1]

Hi jethro123,

I hope that was just a joke!!
But I do think you are serious...
But than again you can't be.
Or can you?

[Sammy boy]

.0162 give it ten days.

[jethro123]

massey always had excellent infomation right up to the day of his resignation- THAT WAS THE PROBLEM - WHAT HAPPENED - OR WAS THE INFO COOKED -

[jethro123]

I GUESS ITS THOUGHS DARN SHORT SELLERS AGAIN - WITH ALL THERE ILL EAGLE SHORT SELLING --------OOOOOOOOOOOOHOOHOHOHO !!!!!!!!!!!!!!

[jethro123]

I WANT ANOTHER NICE LETTER TO SHAREHOLDER- SO ENCOURAGING !!!!!!!!

[wingnutt01]

$.012 is right down the road,, Heading Directly your way, Step aside so as Not to be Bolled over. Don't worry their's No longer any "TRIPP" Hazard!! ??

[carp302]

I think it’s safe to say .12 instead

[budfoxfun]

.0183 ready to go!

$SIRC

[lowandaway]

A blast from the past! Where is that $12.00???

[shajandr]

A lott of munny was loosed here. In addition to the SEC, the DOJ will show up here as will the class action shareholder plaintiff lawyers.

Lotta court time ahead for this turd.

[WiseTrader55]

https://www.sec.gov/oiea/Complaint.html

The clock is ticking…

[lucky, mydog]

i just love how your headline has no attribution.

[shajandr]

Sounds like he cribbed it from the old Enron PRs.

https://www.investopedia.com/enron-executives-6831970

https://www.npr.org/2006/07/05/5535821/timeline-ken-lay-and-the-arc-of-enron

[budfoxfun]

"SIRC, under my administration’s leadership, will evolve with a focus on operational organic growth, efficiency, and culture. I am dedicated to unlocking the potential of our Commercial and Industrial pipeline, our EV and Small Commercial division as well as our fast-growing services, claims and financial services divisions under our Balance brand. Our residential solar and roofing will continue to grow as we expand into new markets. We are working hard to strengthen our balance sheet, raise strategic capital, and align with opportunities that allow for exponential scale and generate shareholder value. This will take time and focus as we endeavor to emerge poised for SIRC to reach its potential and ultimately deliver on our commitment to become a world class renewable energy conglomerate." https://finance.yahoo.com/news/solar-integrated-roofing-corp-issues-123100792.html

[Sammy boy]

Scam is right, I’ve been alerting this fraud forum since $1.70, so many have pumped and vanished !

[lucky, mydog]

cons conning cons.

[shajandr]

LOL!! Yeah, pretty shure the SEC and DOJ have/will soon arrive(d). Massey and whomever was the CFO/controller at the time are deep in DaSoup with Newby.

This turd is now officially toast.

If Witoslawski was functioning as CFO and/or CONtroller during that time period, she better ask Massey which airline he booked to North Korea so she can make the next flight ~OUTT.

I love pennyscams - they are always so entertaining..Like car racing wrecks.

It certainly appears that the SIRC turd was set up from the beginning as a series of nested private scams all within the publicly-traded motherscam.

It will be enjoyable to see this bowl of spaghetti gets untwisted in civil and criminole cases.

Lott peeples gonna be fu ... errr ....hurt badly by this, including SIRC shareholder-victims. Butt look on the bright side, one cannot be fined, disgorged, and imprisoned just for owning shares of this foul turd.

Inneresting to note the various accounting firm changes between annual reports.

Man, this is gonna be .great!! As long as one owns no shares of this pennyscam turd.

As I wrote previously, this turd goes to 0.0001

[PEMBROKE1]

Hi creakyhottie,

I hope it rises from the grave soon.

Amen

[creakyhottie]

Hi Pembroke1

I am not following the lawsuit. However, I do put some weight on what Brett Rosen thinks, as he is much closer to the company than we are and has a lot more at stake.

So being he felt there were some interesting things going on, I figured I would post it.

Personally, I will not be following SIRC closely over next 3 months, or until new Pres. has something positive to share. As far as I am concerned it is dead until it rises from the grave.

[PEMBROKE1]

Hi creakyhottie,

Why is Jason Newby the Plaintiff?
If he was so bad, he wouldn't have filed a lawsuit to begin with.
If Janson Newby was so bad why didn't SIRC take him to court instead of being the Defendant?
Why did it take so long for SIRC to file a counterclaim?
Why not blame Jason Newby for trying to destroy SIRC.
Somebody has to take the fall for this shitty company.
Why did all of the New Management quit right after Newby filed his lawsuit?
If it doesn't sound right than it is not true..

[creakyhottie]

From Brett Rosen

Every $SIRC shareholder should see this…. @SIRCStock #SOLAR https://t.co/nFnkD7uzO7

— Brett Rosen (@BrettRosen325) May 21, 2023

[PEMBROKE1]

Hi jethro123,

First of all, your reply has absolutely nothing to do with my message.
My message isn't the only one.
As far as your reply goes you would be better off contacting SIRC's Invester Relations.
Otherwise read their PR on it.

[jethro123]

a 1000000 short int. is nothing - then why does management need a special crew to police the short interest- illegal shorts what are they - what firm wants to do that at a 2 cent stock that was 60 cents - ????????????????? inquiring mind need to no !!!!!!!!!

[Sammy boy]

It’s been a rough two years, where have you been ?

[jethro123]

ANY DECENT TIPS THAT CAN BE FOUND OR NOT - THEY ARE ALL MOSTLY JUNK !!!!!!!!!

[jethro123]

SORRY .0265 IM OUT - BUT SHE STILL BEATS ME ??????????????

[jethro123]

GOOD THING I GOT OUT AT .0165 - CUZ U NO MY WIFE BEETS ME -!!!!!!!!!!!!!!!!!!

[Sammy boy]

Do they have a switch board operator yet ?

[PEMBROKE1]

This will cheer you up. I have a stock that went to 0.00 this week (ALYI)

[PEMBROKE1]

Looks around 12:15PM quite a few million (a lot) of shares were sold.

[shajandr]

Yep, to 0.0001

[creakyhottie]

Going to be a tough next few months. Let's hope he can breath life back into the company. Would not be surprised if price just slowly drifts down, until there is some positive news.

[lowandaway]

Doesn't sound too positive for the near future. Only one way for stock price to go from hear!

[creakyhottie]

I think they will reverse it in this quarter.

What I find more interesting is the need "to change the corporate culture"---which sounds like there was complete chaos and poor recordkeeping and/or salesmen recording poor credit sales merely to collect a commission.

[shajandr]

"We also had to reverse some cancelled residential solar sales, and we are working to rebuild the company culture after SG&A consolidation and restructuring."

Welp,what that means is restated "financials" for prior Qs and K are coming. It prolly also means they gott either a Wells notice or a meeting request or subpoena from the SEC.

Good thing Massey has fled to the non-extradition country of North Korea. Timely move.

Of course the new CEO won't do Q$A for at least the next 90 days - I'm shure the lawyers made shure of that.