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Solar Integrated Roofing Corp. Reports Record Full Year 2021 Audited Financial Results, Growing Revenue 388% to $84.2 Million
Solar Integrated Roofing Corp. Reports Record Full Year 2021 Audited Financial Results, Growing Revenue 388% to $84.2 Million.
About this update from Solar Integrated Roofing Corporation
[{"type":"text","content":"Audited Revenue Grew 388% in 2021 to $84.2 Million; Net Income Grew to $19.9 MillionHENDERSON, NV / ACCESSWIRE / April 5, 2022 / Solar Integrated Roofing Corp. (OTC PINK:SIRC), an integrated, single-source solar power, roofing systems installation and EV charging company, today announced that its audited financial results for the fiscal year ended December 31, 2021 are now available for download on the Company's Disclosure page of the OTC Markets website.Key Fourth Quarter 2021 and Subsequent HighlightsRevenue in the fiscal year ended December 31, 2021 increased 388% to $84.2 million, as compared to revenue of $17.3 million in 2020.Net income in 2021 was $19.9 million, or $0.05 per basic and diluted common share, as compared to a net loss of $7.7 million, or $(0.05) per basic and diluted common share, in 2020.Secured tier-1 national solar and EV charging projects, including:$45 million co-development agreement for 17 Georgia high school solar projects.Lease agreement to build and operate a $36 million micro-grid project for a 20,000 acre farm near Kingman, Arizona.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 and industry executive Pablo Diaz as President.Appointed renewable energy finance executive Héctor Peña, energy entrepreneur Michael Fallquist and energy industry veteran Gregory Craig to the Board of Directors.Management Commentary"As promised, the release of our 2021 audited financial statements marks a breakthrough capital markets achievement for our company, the first step as we continue our planned transition to a fully reporting company listed on a national exchange," said David Massey, Chief Executive Officer of Solar Integrated Roofing. "In addition, our shift to a more standard fiscal year ending December 31st will better align us with public company best practices and investor expectations - positioning us for future success."In addition, the fundamentals of our operations are strong as we saw both immense revenue growth and greatly enhanced margins across the board - enabling us to achieve...