Spectacular Solar Posts Record Top- and Bottom-Line Revenue Numbers in Q3 RAHWAY, N.J., Nov. 18, 2019 (GLOBE NEWSWIRE) -- via OTC PR WIRE – Spectacular Solar, Inc. (OTCPK: SPSO), is pleased to announce that the company has posted its financials for the third quarter, a quarter that produced record revenues for the NJ-based solar company.
The company reported net revenue of $3,324,824 from a gross revenue of $4,421,412. The $3,324,824 represents an increase of over $2 million from the net revenue posted in the second quarter. The company has shown a profit for five straight quarters and shows no signs of slowing down.
“We are so pleased to be able to report these kinds of numbers to our investors and shareholders,” said CFO Antonio E. Perez. “Our team is in the final stages of negotiations for several large, multi-phase contracts, so we are most definitely looking forward to closing out 2019 with a bang.”
As the contracts continue to stream in and the revenues continue to increase, Perez and CEO Doug Heck recognize that the infrastructure of the company must grow as well.
“We know that we have to invest in the people, the equipment and the software needed to keep up with the pace of our ongoing growth,” Heck said. “As a start, we have put together a tremendous board of directors and have added two key people to the executive team, the specifics of both will be announced later in the week.”
Heck also followed up with the transfer agent on Friday regarding the forthcoming reduction in the common shares outstanding.
“I confirmed with Pacific Stock Transfer on Friday that they received the final signatures from me required to retire the block of common stock that was returned to the company treasury,” Heck said. “The new O/S of 375,148,167 shares should be reflected on OTCMarkets.com in the next day or so.”
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