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I agree. To expect them to move to profitability in one quarter is unrealistic. Q2 was all about the revenue growth, which they showed, which they need to continue to grow.
I’m adding.
Really pleased with the $5.3M revenue number for Q2. Company said they were on pace for a $5.0M quarter earlier. Actually doing what you said you were going to do builds investor confidence. They need to continue this trend with follow up on their other communications. This is trading at less than .5x annual revenues of over $20M now. .0635 SP won’t last long.
We will know a lot more tomorrow once the Q2 is released. Likely be after hours like other said. Buckle up.
People trying to take advantage of a five day delay in reporting Q2 to steal shares.
Ernie Dog been getting after it!! Strong number.
Have not sold a share.
I have over 2.1M shares and have been adding at .06 and below nearly every day the past week.
Yes upgrade to QB would be big. Hopefully here soon as well as a good Q2 ER.
Looks like a magnet pulling this to the low end of the shelf offering.
Fundamentals in tact. Market makers want to steal your shares cheap.
Market makers systematically working it down.
Looks like they will use the shares gradually, and not give the house away with dilution all at a low price, the way they laid out the plan. The minimum price dilution is .05 up to a max of around .20 if memory serves me right. That tells me they expect stock to rise which should mean good news coming, either in the next earnings, upgrade on OTC or both.
90 million shares at say .10 per share average is $9M capital raise. If they get $72M in increased revenue from this (which they need to prove) that is what would be considered a major accretive acquisition. Next week is going to get interesting. My guess is upgrade to QB coming soon.
Are they selling short here w intent to keep driving price lower?
I’m adding some every day around the .06 level. If they are going to hold it back I’m going take a few for myself.
Obviously hiding their lower asks on my platform TOS. Been adding more today at .0605, a level I will gladly add at. Total average .033 so I can afford a few here and there at a higher price.
Not uncommon for small companies to utilize the entire 45 days after quarter end. I think especially true for SIRC who is coming off the CE, and the audit others mentioned.
Added some at .06-.061. Now at 2.06M shares. That was a wild ending to trading today in SIRC. No question MM’s holding this back. Someone is getting this price lower for some big adds. We shall see. CFO Angela working hard to complete the audit, finance upcoming expansion and growth and get this stock off the pinks. It’s coming.
Like it. Nice buy of 495k shares at .0160 here
Let’s hold that $.0148 line today.
340k share bid at .063 follows 156k share sale at .063. Nice
Smart move Ezzy. It is a waste of time and energy. In the meantime the bid is working its way up.
It is still in a show me stage imo. $2M revenues in August is a great number. My gut tells me Q2 comes in shy of $5M based on the language they have used in their PR’s. How shy I don’t know, maybe $4.7M (just using gut). They really focused on August saying they did $2M with $400K in net profit, which is awesome, with no mention of June or July. They also have $5M in pre sales for Q3, so there are great catalysts at play here. While they said they have $5M in sales in the pipeline that should be fulfilled in Q3 they have not projected revenues. Based on $2M run rate in August Q3 should be no no less than $6M. I am thinking 6 month market cap at 1.25x of $24M annual sales which would be $30M cap, or stock price of $.20. If we hit .20 by EOY I will be elated. It all comes down to execution and turning all these projections into actual reportable numbers. I want to know more about their capacity and how long it takes to get a job done once a customer places an order. I say all of this without knowing how they will fund acquisitions and what the corresponding share count will be.
Give me Liberty or give me shares. Congrats!
Find it interesting that the market makers drove this thing down to under .05 last two days before today’s news and jump to .06. Coincidence? Doubt it. Glad I added.
It did the past two days. Joined the 2M share club. Chipping away.
Looks like you got that 10k order filled, unles someone else got it.
Yes I did. After hours?
Added shares today below .052. Pleased with the add price.
The 4 hour candle in second half today is pretty. First .06 coming then .07 shortly thereafter. Most buying second half today was above .055. She is getting ready for nice moves.
You’re right, much to prove. I’d be good with an intermediate step to OTCQB. Just show progress and move forward and get off the pinks. I am thinking the QX may take some time while the QB could happen quickly. Here’s to hoping for a quick ER for Q2. Cheers.
Mercutos did you hear that timing from the company? I’d be shocked, surprisingly so, if they report next week. Seems lots of similar type companies often take the entire 45 days to close the books on the prior quarter. I would think it would be even more so for a company who had to work as hard as they did to have the CVEM removed. We shall see. I hope you are right and me wrong.
Does anyone know if OTC pink have to report earnings by a particular time? Other indices have 40-45 days to report the Q’s. If we expect earnings for SIRC in a similar time frame then we are about 5 weeks out from knowing the results from Q2 ending 8/31. Expecting $5M for this report per company guidance from 8/4 PR.
Company projected ~$5M in Q2 sales on 8/4, just 27 days before the end of the quarter. With Angela at helm of finances gotta believe she would have verified that number prior to posting. If they could not accurately forecast Q2 revenues over two thirds through the quarter then something is wrong with their forecasting ability. Seems $5M is highly likely like several here have said.
You make some very good points Liberty. The news last week on the acquisition was fine but it looks like it is a sales and marketing company. They had already bought one of these. (Narrate), and it must not have worked out. I’d like to know why.
If you have a backlog of business of five months as they say, the issue doesn’t appear to be one of generating leads but rather on production and execution. I just don’t see how buying a marketing company is going to increase sales $2M per region per month, if you did only $3.5M last quarter and have 5 months of backlog. What we also don’t know is what kind of impact covid had on their ability to install and whether that is still impacting business.
To me it is all about installations and production (in other words executing operationally) which, in turn, is all about having trained and qualified installers; in other words do they have the capacity to hire and train people on the front line to keep up with sales. This is what I’d like to hear more about, what is needed to reduce a backlog of business. I assume revenue is not booked on the P&L until after the work is completed.
I’d generally like more details around the things they are communicating. There PR’s, while positive, sometimes creat more questions than answers. I am very much long here with my close to 2M shares but these are my thoughts “talking out loud”.
My guess is that QX is next too. I’ve heard that has been on the CEO’s mind for a long time. Although moving to the QB would not be a bad next step either. Good to see him wanting to move up to higher levels in the market.
I would hope they would not dilute at this price. What is unknown is how they plan to make the purchase of the $5M company, unless I missed something. If they dilute and the acquisition is accretive to the top and bottom lines then it should not matter. It is hard to grow a business without dilution, unless you can find the capital elsewhere.
I think you are right. They need to hit this projection for Q2 correctly. They did not manage the Q1 projection and press release early in Q1 well imo. Lots of positive changes since then though so they should be learning as they go. Hitting $5M after $3.3M-ish would show great growth.
Reminder below of 8/4 PR:
Solar Integrated Roofing Corporation (OTC PINK: SIRC) ("SIRC") ("The Company"), a leading integrated solar and roofing installation company based in Southern California is pleased to announce today that revenue projections are on pace for $20 Million for the fiscal year-end 2020. The Company reported at $3 Million in the first-quarter (Q1) of 2020, which is traditionally the slowest season for the Solar Energy sector. SIRC is projecting the second-quarter (Q2) revenue at an estimated $5 Million with $5 Million in sales that are backlogged and projected to be fulfilled by the Company in Q3 of 2020.
Would really like to see them hit that $5M number in Q2. If they hit $5M in Q2 then they need to average $6M the final two quarters to hit the $20 M yearly guidance. Got to build capacity to deliver and execute.