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$RXMD Good to see, here we go on the final stretch, finally, toward major progress for shareholders. SEC full reporting on deck now! The end of cheap shares - for those on the sidelines... it's around the corner, time to get serious.
Sounds to me like someone wants to get ahead of anything positive that might come out of the update. Kindof pathetic, I must say.
$SIRC Great report! And NET PROFIT 0.04 per share vs (.05) loss last year.
$84M revenue and looking at $200M+ run rate turning to possible $400M run rate by end of 2022!
$20M NET PROFIT!!!
Cheers, souwester, good post.
$OWPC Thanks. Pretty much expected that, based on history. I am sure looking forward to what's around the corner after the annual report is out of the way.
Okay, I see it. Big thanks, zepak!!
That's great to see, sello, thanks for posting! Where did you find that, can you provide a link?
$ALPP Excellent news! Transforming!!
$OWPC This is surely a good thing for One World Products! Biden Designates Colombia As 'Major Non-NATO Ally' In Bilateral Meeting - March 10, 2022
For those who may not be aware, we have a really interesting contributor on our Advisory Board ->
Minyon Moore
https://oneworldproducts.com/our-team/minyon-moore/
Under President Bill Clinton’s administration, Minyon served as Assistant to the President and Director of White House Political Affairs, in this capacity, she served as the principal political adviser to the President, Vice President, First Lady and senior White House staff, with primary responsibility for planning outreach and directing the political activities of the White House. She also developed and coordinated legislative strategy, Administration policy, and communications planning with senior White House staff. As CEO of the Democratic National Committee (DNC), Minyon was responsible for day-to-day operations and oversight of the Democratic Party.
Consider various actions and appointments by our CEO, milestones and pending status of our processing facility and production, as well as our partnership with Stellantis... and possible if not probable connections between all of these. There is tremendous potential here, and I feel we're right on the cusp of a major turning point.
Yeah, that's hilarious. All it takes is one buyer and that's gone. Still a shame they get away with that kind of manipulation to take shares from mom or pop retail retirees or other less hardened hands. Having a very limited effect, though. I hope they lose them and we pop over $2 permanently.
$OWPC Lol, this is awesome! I still have a tab open from earlier this afternoon showing the 2/21/2022 updated Securities page on OTC Markets. I just opened another tab and I see what you described - updated and TA Verified as of 3/7/2022 with no change to Outstanding Shares, Restricted, Unrestricted, nor Held at DTC.
I am of the same mind as you - we are bound to have major news very soon - and definitely looking forward to the next phase beginning here. I've been quietly adding for months, and just... patient. Confident that it will pay!
$JUSHF Same!
$ALPP Definitely, great news! Alpine 4 is such a solid company, I just love seeing this particular infrastructure division (wholly-owned subsidiary) continuing to deliver in a big way.
Link and full text:
https://www.prnewswire.com/news-releases/alpine-4-holdings-alpp-subsidiary-morris-sheet-metal-awarded-4-6-million-in-new-projects-301495699.html
Alpine 4 Holdings (ALPP) Subsidiary Morris Sheet Metal Awarded $4.6 Million in New Projects
NEWS PROVIDED BY:
Alpine 4 Holdings, Inc.
Mar 04, 2022, 09:00 ET
PHOENIX, March 4, 2022 /PRNewswire/ -- Alpine 4 Holdings, Inc. (Nasdaq: ALPP), a leading operator and owner of small market businesses, has announced that its subsidiary, Morris Sheet Metal (MSM) of Indiana, has been awarded several new projects totaling $4.6 million in the educational and healthcare facilities space.
Tom Laubhan, President of Morris Sheet Metal, had this to say, "We are eager to begin these new projects as they serve to demonstrate how integral we are to the Indiana and Midwest region. I believe we were awarded these projects much in part on how we handled the volatile market conditions of 2021, where unprecedented inflation pushed the construction services market into a negative margin position on many projects due to material costs on items like steel, which rose to over 200%. While it is not easy to absorb such material cost changes, MSM stood by its customers and honored its contracts, completing prior work on time and on budget. The integrity in which we have conducted ourselves as a company in this difficult market, has led to our customers rewarding this team with the quality projects we proudly build for our community."
Kent Wilson, Alpine 4's CEO commented, "With the volatility of 2021, it's confidence inspiring to see some re-balancing in construction, culminating in this newly awarded work. Morris Sheet Metal has garnered a stellar reputation in the area, and we anticipate the flow of more work as supply chain issues continue to ease."
About Morris Sheet Metal Corp: Morris Sheet Metal (MSM) was established in 1992 and is a full-service HVAC Contractor offering design, fabrication, and installation services in addition to custom metal fabrication services. MSM is an active member of SMACNA and the AFE Association for Facilities Engineers. MSM currently falls under Alpine 4's DSF business model as a Stabilizer.
About Alpine 4 Holdings: Alpine 4 Holdings, Inc. (ALPP) is a NASDAQ traded conglomerate that acquires businesses that fit into its disruptive DSF business model of Drivers, Stabilizers, and Facilitators. At Alpine 4, we understand the nature of how technology and innovation can accentuate a business. Our focus is on how the adaptation of new technologies, even in brick-and-mortar businesses, can drive innovation. We also believe that our holdings should benefit synergistically from each other, have the ability to collaborate across varying industries, spawn new ideas, and create fertile ground for competitive advantages.
Four principles at the core of our business are Synergy. Innovation. Drive. Excellence. At Alpine 4, we believe synergistic innovation drives excellence. By anchoring these words to our combined experience and capabilities, we can aggressively pursue opportunities within and across vertical markets. We deliver solutions that not only drive industry standards, but also increase value for our shareholders.
Contact: Investor Relations
investorrelations@alpine4.com
www.alpine4.com
Forward-Looking Statements: Certain statements and information in this press release may constitute "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), and the Private Securities Litigation Reform Act of 1995. The information disclosed in this press release is made as of the date hereof and reflects Alpine 4 most current assessment of its historical financial performance. Actual financial results filed with the SEC may differ from those contained herein due to timing delays between the date of this release and confirmation of final audit results. These forward-looking statements are not guarantees of future performance and are subject to uncertainties and other factors that could cause actual results to differ materially from those expressed in the forward-looking statements including, without limitation, the risks, uncertainties, including the uncertainties surrounding the current market volatility, and other factors the Company identifies from time to time in its filings with the SEC. Although Alpine 4 believes that the assumptions on which these forward-looking statements are based are reasonable, any of those assumptions could prove to be inaccurate and, as a result, the forward-looking statements based on those assumptions also could be incorrect. You should not place undue reliance on these forward-looking statements. The forward-looking statements contained in this release are made as of the date hereof, and Alpine 4 disclaims any intention or obligation to update the forward-looking statements for subsequent events.
SOURCE Alpine 4 Holdings, Inc.
$SIRC Q&A with CEO Dave Massey will be Monday 3/7 at 4:30pm EST at the location shown below (in the image).
If you miss the live Q&A, you can find the recorded version once it is posted online, at this YouTube link:
https://www.youtube.com/c/MediatekVideos/videos
Note that you can also listen to the previous Q&A sessions, also - 1/18/22, 12/2/21, 11/3/21, and so on.
$SIRC Oh yeah, that's big news! Those numbers go directly to bottom line profit!
So... a profitable company in the solar energy market with actual profits, and INCREASING those profits by up to $18M over the next year. Compare that to all of those much larger (market cap) solar companies with fairly large negative EPS.
SIRC is going to blow a lot of folks away. Gonna be tough having the discipline to hold tight to shares when the institutions come in starting - at least on a small scale, initially - within weeks or even days, perhaps... and ramping to a much larger scale over the coming months.
$OWPC Stellantis 2022-2030 Long-Term Strategic Plan, just released yesterday, 3/1/2022.
https://www.stellantis.com/content/dam/stellantis-corporate/investors/events/strategic-plan-2030/2022_03_01_Strategic_Plan.pdf
The automaker is putting €300 million euros, or about $333 million (initial fund size), into a venture capital fund to invest in a variety of outside ventures. These could include:
-Advanced Materials
-Advanced Manufacturing & Supply Chain
-Sustainability
Lol, someone has a LOT of catching up to do. Frankly, now I understand why some traders are afraid to hold a stock for 2 days. Just a TINY bit of homework would solve much.
No, not shifting away from solar/roofing as much as underling and boldening their FOCUS on solar/EV charging sales/installations. Only makes sense, with so much money flowing into the EV/charging and renewable energy markets. Management knows how to move and shake!
We already see and know how much growth potential - and demonstrated growth within SIRC - in solar / roofing... at this time, there will be even MORE growth in the solar / EV charging solutions!
$SIRC More great news! Last Q we did $48M revenue and $18M profit, and now this to take us to $400M run rate. And to think we were at a run rate of, what, $20M a year ago? Exciting times!
https://www.accesswire.com/690595/Solar-Integrated-Roofing-Corp-to-Form-Dominant-Player-in-EV-Charging-Market-with-Planned-Acquisition-of-Charging-Installer-with-100-Million-Order-Pipeline-Buoyed-by-5-Billion-in-Federal-Stimulus
LAS VEGAS, NV / ACCESSWIRE / March 1, 2022 / Solar Integrated Roofing Corp. (OTC PINK:SIRC), an integrated, single-source solar power, roofing systems installation and EV charging company, today announced a strategic shift towards prioritizing its over $30 million electric vehicle (EV) charging project pipeline and $20.2 million EV charging project backlog given the immense near-term revenue opportunity, better aligning with the Company's planned corporate name change to 'SolarEV'.
In conjunction with the strategy shift and to bolster its national EV charging business line, Solar Integrated Roofing has signed an LOI for an acquisition of three complementary Los Angeles-based EV charging installers with over $100 million of contracts in their sales pipeline.
...
"We are currently leveraging our vast network of nationwide installers to ramp sales efforts and capitalize on the exponential increase in demand. As of today, we have over $20.2 million in EV charging projects in our backlog with a further $30 million in the pipeline. I expect to further grow this through a recent LOI to acquire three complementary Los Angeles-based EV charging installers with over $100 million of contracts in their sales pipeline and the potential for significant additional growth in the quarters to come. After we close our announced acquisitions, I believe our sales run rate is likely to exceed $400 million annually.
Incorrect. There is NO R/S, couldn't be further from the truth.
No, the company/management never said they were not uplisting to QB. That was an incorrect assumption by an anonymous person posting on social media.
$ALPP Beautiful, this is major news!!
Looks great, will have to register for this one. Thanks for posting.
$OWPC Great to see this as the company continues to improve on the robust corporate team. We are not doing this just for fun... only a matter of time until we see all this start to show a reflection in share price improvement.
Well stated comments from new board member Michael Fallqist regarding SIRC, our corporate management, as well as the amazing bright future for the company and market. If you haven't listened yet, per the posts and link from Marqez or TripTrap... it's definitely worth setting aside 7 minutes and 19 seconds to do so. imo
February 10, 2022
On MoneyTV with Donald Baillargeon, Solar Integrated Roofing Corporation (OTCPINK: SIRC) Board Member Michael Fallquist shared his vision for the company.
I saw that on the Discord and listened to it a little while ago. Awesome, well spoken, great guy to have on board. Dave and Pablo continue to make great moves to strengthen SIRC!!
$RXMD Awesome news! Full SEC reporting, Form 10 filed and Nasdaq listing on deck!!
$SIRC February 2022 Investor Presentation just uploaded to company site yesterday. Nice little nuggets in there for those paying attention! (it's a 20-page slide presentation)
Find it here:
https://www.solarintegratedroofing.com/about-us/investor-presentation/
Or by direct link to PDF file here:
https://api.mziq.com/mzfilemanager/v2/d/8379c274-5504-4b09-8791-5b7786af335b/8b0b3217-6b9e-d4d1-c265-2665ee52a17f?origin=2
Financials ARE audited, link:
https://www.otcmarkets.com/otcapi/company/financial-report/309335/content
(Annual Report - Year End Report (02/28/2021), period ending 2/28/2021, filed 11/3/2021 (Amended - Audited Financial Statements)
I understand all but "continue to wait for audited financials." We HAVE audited financials. The only reports that have the "audited" stamp are Annual Reports. The annual report for 2021 is AUDITED (see images below).
The next report for fiscal year 2022 - which will ALSO be AUDITED - is not due until May 29, 2022, as our fiscal year ends 2/28.
However, management has announced that they intend to change our fiscal year to match the calendar year. As yet, it is unclear exactly when we will see the next report or exactly which months will be included in the very next report to be filed. Though there was some discussion in recent Q&A sessions with management about the fiscal year change and the effect on reporting, it is still a bit unclear what the public can expect to see in terms of timing of the next one or two reports (through the fiscal year change proccess). {there will definitely be a clear question about this, looking for clear answers on filing/report dates and months to be included in those reports, during the next mgmt Q&A session that may be announced any day now}
Now, if you are like me (but not everyone is like me) - you are REALLY looking forward to the pending OTCQB uplift that we expect any day now. OTCQB listing validates the higher quality of reporting - including that "AUDITED" stamp, among many other improvements over Pink Unaudited status... and REALLY REALLY looking forward to the planned Form 10 filing (if you are like me). At that point, the company will be full SEC compliant and begin reporting to the SEC (and no longer Alternative Reporting via OTC Markets). Also, separately, with the Form 10 filing, management believes that all requirements for OTCQX listing will be met, and intends to uplift to OTCQX.
As I've noted on other social media,
Sure. You can assume and rely on OTC Markets "verified by TA" share structure, which shows the O/S to be 453,498,555 shares, as of 1/20/2022 (just two weeks ago). This is the latest, accurate count of outstanding shares, and can be cross-referenced for verification (reconciled) using the latest (Q3) financial report:
$ALPP Definitely a doubling down on the long term plan and strategy for massive growth and dominance in select markets, imo. As I have stated more than once over the years from sub-penny to sub-dollar to Nasdaq, this is one to buy and hold for building generational wealth. Regarding the question of whether this letter helps or hurts share prices, I have this feeling that you are referring to the ultra-short term price action - all I can suggest is... if you're bullish LONG term, it's always good for accumulating when others are selling and chasing other shiny objects.
$RXMD Great news, thanks for posting, garrox!!
Nice summary, thank you for compiling and posting, Televet! Many exciting and reassuring takeaways from the session!!!
It was another very good discussion with management, a great opportunity for anyone truly interested to have ANY/ALL questions answered by SIRC top brass. We were given a couple weeks to submit any questions for the Q&A, and the moderator/interviewer once again did an excellent job going through that list of questions while also monitoring the live chat for follow-on questions for any all topics.
All investors should re-read the above. EVERYONE/ANYONE was given the opportunity to ask questions, the session was available to EVERYONE/ANYONE (and on multiple platforms, including the mediatek live website), and ANYONE/EVERYONE had the opportunity to participate via chat, during the session. The company and leadership are super transparent, very investor-friendly.
Anyone missing these sessions should really put forth a tiny bit of time/effort to participate or at least listen in on the next one. For now, the recorded session is available to the public at:
$SIRC MORE acquisitions news!! These guys JUST... DON'T... REST! Loving it!
https://www.accesswire.com/684247/Solar-Integrated-Roofing-Corp-Announces-Seven-Planned-Acquisitions-Totaling-Over-78-Million-in-Projected-Annual-Revenue-Positioning-Company-for-Significant-Growth-in-2022
Solar Integrated Roofing Corp. Announces Seven Planned Acquisitions Totaling Over $78 Million in Projected Annual Revenue, Positioning Company for Significant Growth in 2022
Tuesday, January 18, 2022 6:00 AM
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Topic: Company Update
Solar Integrated Roof Corp.
Solar Integrated Roof Corp.
Company Signs Binding Letters of Intent (LOIs) for Seven Acquisitions for Aggregate Cash Proceeds of $21.6 Million; Management Expects to Realize Over $78 Million in Incremental Revenue
EL CAJON, CA / ACCESSWIRE / January 18, 2022 / Solar Integrated Roofing Corp. (OTC PINK:SIRC), an integrated, single-source solar power, roofing systems installation and EV charging company, today announced that it has signed a series of binding Letters of Intent (LOIs) as part of its planned acquisition of seven companies, adding an anticipated $78 million in incremental annual revenue.
Management plans to integrate the following seven firms into the SIRC family of companies:
Storm Ventures Group ("SVG"), a respected industry contractor consulting firm
Standard Eco, a licensed engineering, procurement and construction (EPC) solar provider with a presence spanning five states and over 4,000 solar installations
Eco Management, a licensed EPC solar provider with a presence spanning four states and over 2,000 solar installations
BVI Solar, a California licensed roofer and solar contractor which has been party to over 1,000 solar installations - founded by an early pioneer of the solar roof concept, which later became the CertainTeed Apollo II Solar Shingle
Bel Aire Construction and Development, an established property development firm to drive the development of green housing developments, driving notable synergies across the SIRC family of companies
Music City Roofing, a very highly-rated roofer in Tennessee, with over 5,000 roofs replaced and over 3,400 roofs repaired since inception - while furthering a charitable mission centered on giving back to the local community
Heartland Constructors, a licensed EPC and a premier west Texas solar provider which has served as a lucrative referral source for SIRC - referring a nationwide EV charging station contract spanning over 200 apartment complexes as well as several high-value solar projects
"This extremely exciting series of planned acquisitions represent a significant expansion of our business, growing our revenue by an expected $78 million annually," said David Massey, Chairman and CEO of Solar Integrated Roofing Corp. "These acquisitions are a testament to our focus on identifying exciting niche industries to leverage our vast network and generate additional revenue through synergies and cross-selling. Given our planned transition to a more traditional December 31st year-end, we don't anticipate these acquisitions will have any adverse effects on our plan to uplist to the OTCQX by mid-March, following a successful near-term uplist to OTCQB.
"These all-cash, no-dilution planned acquisitions are made possible through our strong relationship with Arbiter Bank, who has served as a valued financing source - enabling our mutual growth. We anticipate that these acquisitions, given the inherent synergies from being part of the SIRC family of companies, have the potential to pay for themselves within two years. I am incredibly proud of our team's ability to find attractively priced companies, efficiently integrate them into our corporate structure and drive sale and operating synergies firm wide. This has proven instrumental to our ability to create sustainable, long-term value for all stakeholders.
"We eagerly await our Discord Q&A session with shareholders this afternoon - interested investors can learn how to join by clicking here. I will be joined by special guest Darin Pastor from Arbiter Capital at 4:00pm Pacific time today. I look forward to continued operational execution in the coming year, striving to create a clear national leader in the solar power, EV charging and roofing sectors," concluded Massey.
Pablo Diaz, CEO of USA Solar Networks and President of Solar Integrated Roofing, added: "Reflecting on my experience as the CEO of a Company acquired by SIRC, I am thrilled to welcome these seven companies - each clear thought leaders in their respective fields - to the SIRC family of companies. Our revenue increased by several fold since joining SIRC, which was made possible through the countless synergies, deep resources, technology and incredible corporate infrastructure that SIRC has to offer. Looking back, joining SIRC was the best business decision I have made in my life. I look forward to working closely with each of the acquired companies to help them spread their wings and reach their full potential, creating value for our shareholders."
Closing of any potential acquisition is subject to final due diligence, negotiation and execution of a definitive purchase agreement and all necessary approvals. The seven aforementioned planned acquisitions are being purchased for an aggregate $21.6 million in cash proceeds, with no new shares issued and no dilution taking place.
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 or join us on Twitter, Facebook or Discord.
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
SOURCE: Solar Integrated Roof Corp.
$SIRC Investor Q&A January 18, 7pm EST --
Oh yeah, it sure looks like we're seeing the beginning of the new beginning for MJ stocks 2022. And JUSHI is my strongest bet, as it has been since inception. Gotta love the CEO putting his personal money behind his mouth in such a big way. But hey, I guess sometimes you have to just get loud about it before people hear you, right?!?
$SIRC Simply AWESOME report!! Would be unbelievable if hadn't been paying attention for the past year+.
https://www.accesswire.com/683484/Solar-Integrated-Roofing-Corp-Reports-Record-Third-Quarter-Fiscal-2022-Financial-Results-On-Track-to-Substantially-Exceed-100M-Financial-Guidance-as-Annual-Run-Rate-Approaches-200M
SIRC is so undervalued, it's an unbelievable opportunity to have this stock sub-dollar. No kidding, just read this and spend a little time for DD, you'll thank yourself every day, week and year for a generation.
Solar Integrated Roofing Corp. Reports Record Third Quarter Fiscal 2022 Financial Results; On-Track to Substantially Exceed $100M Financial Guidance as Annual Run-Rate Approaches $200M
Friday, January 14, 2022 6:00 AM
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Topic: Company Update
Solar Integrated Roof Corp.
Solar Integrated Roof Corp.
Third Quarter Fiscal 2022 Revenue Increases 964% Year-over-Year to Record $48.2 Million; Management Guides Significant Sequential Revenue Growth Entering CY2022
EL CAJON, CA / ACCESSWIRE / January 14, 2022 / Solar Integrated Roofing Corp. (OTC PINK:SIRC), an integrated, single-source solar power, roofing systems installation and EV charging company, has reported its financial and operational results for the third quarter ended November 30, 2021.
Key Third Quarter and Subsequent Highlights
Revenue for the third quarter of fiscal 2022 increased 964% to $48.2 million, as compared to revenue of $4.5 million in the same year-ago quarter.
Secured lease agreement with Mohave Farms, a tier-1 multi-generational agriculture operator, to build and operate a $36 million micro-grid project for a 20,000 acre farm near Kingman, Arizona.
Partnered with Heartland Construction, a national alternative energy developer, to provide electric vehicle (EV) charging station installations for Heartland solar projects.
Formed a strategic partnership with Storm Ventures Group ("SVG") and SVG University to educate contractors within the SVG network on the benefits of adding solar to their service offering via USA Solar Networks, a member of the SIRC family of companies.
Partnered with the Founders of RxSeedCoin, a cryptocurrency asset listed on the Stellar Exchange, to develop a cryptocurrency funding solution for humanitarian commercial solar projects.
Appointed an experienced executive team to support the Company's rapid growth, including veteran finance executive Wanda Witoslawski as Chief Financial Officer, industry executive Pablo Diaz as President and respected operations executive Dr. Philip Yin as Chief Operating Officer of SIRC subsidiary, USA Solar Networks.
Appointed renewable energy finance executive Héctor Peña to the Board of Directors.
Initiated targeted program to realize significant cost synergies across the SIRC family of companies, creating a shared corporate infrastructure to lower costs and improve operating efficiency.
Entered into a $42.0 million equity purchase agreement with Arbiter Capital LLC to be used for share buybacks, acquisitions and to invest in continued organic growth.
Management Commentary
"The third quarter of fiscal 2022 was highlighted by record revenue of $48.2 million, driven by seamless integration of our rapidly growing, high-margin acquisitions and our evolution into a truly national brand," said David Massey, Chief Executive Officer of Solar Integrated Roofing Corporation. "The rapid pace of our acquisitions, partnerships and organic sales growth has enabled this incredible record revenue achievement, and we aim towards substantially exceeding our fairly conservative guidance for $100 million in revenue in the twelve months ended May 31, 2022. However, this is only a fraction of the run-rate I believe we can achieve by the end of this calendar year with significant sequential growth expected throughout CY2022. It is impossible for me to overstate what a triumphant accomplishment this quarter represents, serving as both a milestone and a turning point in the company's history. We continue to focus on integration of our acquired companies, allowing us to capture the full revenue lifecycle of our customers while bringing new synergies and efficiencies across the SIRC family of companies.
"Our prominent national brand and accomplishments have helped to attract new partnerships across a wide variety of industries, utilizing our products and expertise across solar, battery backup, EV charging and roofing installation. From EV power charging stations, to powering water harvesting products, to enabling cleaner poultry farming - our diverse array of end-customers continues to amaze us as they identify exciting, unique use cases for our clean energy solutions.
"As we transition into CY2022, we look forward to completing the next phase of our journey by implementing a name change to SolarEV and a planned ticker change to POWR. While our record quarter clearly demonstrates proven success in solar, we intend to redouble our efforts to become an equally dominant, national player in the EV charging space, with an eye towards exponential, dual-industry growth and an improved focus on generating shareholder value.
"Looking ahead, empowered by a recent equity purchase agreement with Arbiter Bank, we are setting off on the next leg in our acquisition journey. We have identified several extremely promising candidates with healthy potential at attractive prices that require no dilution whatsoever to our shareholders.
"Finally, we will continue and improve upon our ongoing efforts to engage with our shareholders through our frequent Q&A events and presentations. As CEO, I have never been more excited to see what the future holds for our beloved company. I would like to personally thank each and every one of our valued shareholders for their support in making our successful transition to an industry powerhouse possible," concluded Massey.
Third Quarter Fiscal 2022 Financial Results
Revenue for the third quarter of fiscal 2022 increased 964% to $48.2 million, as compared to revenue of $4.5 million in the same year-ago quarter. The increase was driven by the Company's continued acquisitions, as well as continued organic growth across the SIRC family of companies.
Gross profit increased 2,372% to $25.2 million, or 52% of total revenues, in the third quarter of fiscal 2022, as compared to $1.0 million, or 22% of total revenues, in the same year-ago quarter.
Total operating expenses for the third quarter of fiscal 2022 were $7.1 million, as compared to total operating expenses of $1.6 million for the same year-ago quarter. The increase was mainly attributable to increased operational scale, driven by a series of acquisitions made in the prior preceding year.
Net income for the third quarter of fiscal 2022 was $18.4 million, or $0.05 per basic and diluted common share, as compared to a net loss of $0.6 million, or $(0.00) per basic and diluted common share, in the third quarter of fiscal year 2021.
Cash and cash equivalents totaled $1.5 million as of November 30, 2021, as compared to $10.3 million at February 28, 2021.
About Solar Integrated Roofing Corp.
Solar Integrated Roofing Corp. (OTC:SIRC), is an integrated, single-source solar power, roofing systems installation and EV charging 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
SOURCE: Solar Integrated Roof Corp.
Yes, always interested. Don't forget to buy some shares, though. Gotta have a ticket to ride this train.
$SIRC Crazy great Q3 performance! Just think, this is the precursor to every quarter following, with XXX growth yet to come - definitely one to hold for the next generation(s). Growing wealth for generations, in at sub-dollar share price, pre-Nasdaq, we won't forget and neither will our families.
$SIRC Oh yeah, nice, absolutely blew the doors off with this report!! AWESOME!