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I added the below post to the stickies...
Solar Integrated Roofing Corp. Announces $42.0 Million Equity Purchase Agreement with Arbiter Capital
https://finance.yahoo.com/news/solar-integrated-roofing-corp-announces-100000915.html
Proceeds to Drive Share Buybacks, Acquisitions and Continued Organic Growth
EL CAJON, CA / November 3, 2021 / Solar Integrated Roofing Corp. (OTC:SIRC), an integrated, single-source solar power and roofing systems installation company, announced today that it has entered into a $42.0 million equity purchase agreement with Arbiter Capital LLC, a Delaware investment firm.
Upon entering into the agreement, Arbiter Capital purchased $42.0 million of Solar Integrated Roofing Corp. restricted Series B Preferred Stock, or 6,000,000 preferred shares at $7.00 per share. The proceeds will be used for share buybacks, acquisitions and to invest in continued organic growth.
“The Arbiter Capital commitment gives us the flexibility to invest in our current business, buy back shares and pursue strategies that prioritize growth and other key marketing initiatives,” said David Massey, Chief Executive Officer of Solar Integrated Roofing Corp. “The terms of the Agreement provide a low-cost option with no restrictive covenants or warrants. In addition, we have gained an institutional investor that has made a commitment in support of our Company, as evidenced by their investment at a premium to market, as we continue to make progress in the business and build long-term shareholder value.
“In addition, this capital will allow us to procure an office building to consolidate our locations into a more efficient, centralized footprint – which we believe could save us about $300,000 annually. I look forward to continued execution in the months ahead as we strive to create sustainable value for our shareholders,” concluded Massey.
About Solar Integrated Roofing Corp.
Solar Integrated Roofing Corp. (OTC:SIRC), is an integrated, single-source solar power and roofing systems installation platform 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
Okay so the announcement of the special Q&A is a little bit like news out. Obviously something is brewing and anything could happen like I like to say.
Just to give a heads up for today....today's resistance sits around .4645. If price continues to climb and gets above that area then we will know this little upswing we are getting today is for real...
Looks like we are starting to do that now....let's see if it can stay above .4645
If I'm gonna have a bad call it might as well soar...gotta be some news on the way...
We dug in today…. the close was finally above the open…1st time in 7 days that has happened! They were not able to close the 42 cent gap..they could not slam us! We essentially closed on the 50% fib retracement. Close to a Doji candle stick reversal pattern. Perfect time for news to come out now…will wait and see.
So .4595 is the 50% retracement based off the Aug 17th low to the Sept 15th high. Right now price seems to be respecting that value. Will see if it holds and pushes up from here...
Okay....so we did indeed get down to support at .5200 as expected. HUGE opportunity to add more here and paves the way for higher prices....
This is just my opinion...please make your own decisions as ANYTHING COULD HAPPEN!
+8% for the week
Message from Dave Massey on Discord after Q&A last night...
DaveMassey — Yesterday at 11:10 PM
"please don't get discouraged at Q2 numbers, It seems we were not able to include hardly any of Us Solar Network sales and we have a huge back log of projects getting done. As I said Q3 will be the quarter that represents SIRC in its current revenue state."
DaveMassey — Yesterday at 11:14 PM
"Q3 real revenues for SIRC at full throttle, Audit being completed and reviews being done off the pinks on the qb that excites me. Real results."
DCCB's notes from last nights Q&A with SIRC's CEO Dave Massey
Thank you DCCB!
- Audit is done and will be filed next week.
- Q2 earning report is filed today.
- Stock purchase agreement with Arbiter Capital. Arbiter will buy 5M of preferred shares which were retired from Brian for $35M. They are restricted shares with no dividend or warrants. SIRC could do a PR next week.
- Projects are now 60% residential and 40% commercial
- Currently in talk with an EV start up company for either partnership or buy-out to bring more resources to Plemco.
- American ContractorPro backed out the agreement after SIRC announced their partnership with SVG
- Expected to be cash flow positive in Q3 with all subsidies running at full speed.
- Dave's message to the shorts/bears: "LEAVE US ALONE!"
Ya killing me Smalls...
"Recently before every big move up we have had a head fake....10/8 @2:30pm EST and 10/12 @1:30pm EST....my strong feeling is today is no different...like i said in my chart post expecting .5600 to be taken out to the downside .... News will come out today at some point before the Q&A.... Get ready as we are ripe for a whipsaw down and then up up up..... JUST MY OPINION....Expect the unexpected.."
Recently before every big move up we have had a head fake....10/8 @2:30pm EST and 10/12 @1:30pm EST....my strong feeling is today is no different...like i said in my chart post expecting .5600 to be taken out to the downside .... News will come out today at some point before the Q&A.... Get ready as we are ripe for a whipsaw down and then up up up..... JUST MY OPINION....Expect the unexpected....
WRONG!!…THAT STATEMENT IS FALSE!!!… LMAO!!!
LMAO!!!! In no way shape or form is SIRC doing business with a toxic lender. Wait for the Q&A and you will find out.....
Exactly MoneyForNuthin!!! ALPP is one example of how crazy thinks can get price wise…. SIRC has so much going for it and $12.00 is not out of the realm of possibility…..BLNK, XPEL, GNUS….etc….etc…etc!
Thanks Tim! I am curious though what downandout has to say on the matter.
Since we are on the subject...we all know what I think. What do you think Timmy on the subject? If the audit comes out shortly where do you think we are headed price wise for SIRC knowing what we know now? Being serious here..
Just curious lowandaway...since you like to hang out with us on this board for some reason, sincerely...what do you think SIRC price is gonna do over the next 6-12 months?
Looks like we might possibly test the triangle breakout at the .5660 area. This would be normal price action after a major breakout...
Today's LD Micro Main event presentation:
https://app.frame.io/presentations/2f1f6ad4-f005-46be-9b2d-e51ac7cb0feb
I guess then we are gonna find out before too long who's funnier aren't we Mr. lowandaway?
lowandaway you are too funny man! Like your posts about how far we are away from $12.00....seriously inspirational!! Gonna make you a believer yet!
Thank you Ibow...glad I could help just a bit.
Will see how it goes and might be a very lucrative ride...
Sounds like you are quite experienced and know they are gonna do everything possible to get us out of our positions on the ride up North... I am expecting huge swings along the way...put on your seatbelt.
I was just kidding around...
Having a little fun with my good friend Timmy...
U bet buddy!! Nice to hear your enthusiasm again!!!
Gonna be a fun ride!