Solar Integrated Roofing Corp (SIRC)

[Witty159]

“Acquisition Capital means funds allocated for the planned purchase of other roofing businesses which will complement the operations of the Company. Although the Company has identified possible acquisition targets businesses in the roofing industry, its negotiations with such roofing businesses are currently in the Letter of Intent (LOI) stage and have not reached the stage of drafting or executing definitive acquisition agreements. If and when the Company enters into definitive acquisition agreements with any of these roofing businesses, the Company will disclose the terms of such agreements and attached them to the Offering as exhibits.”

It’s intended for acquisitions only. End of the day they aren’t going to be able to get more acquisitions without money, so this is they’re method I’m guessing, which is fine so long as the acquisitions are quality buys. The bigger question will be if they are restricted or not.