Business
Update - Caveat Emptor Label
Update - Caveat Emptor Label.
About this update from Solar Integrated Roofing Corporation
[{"type":"text","content":"Solar Integrated Roofing, Inc. Updates Caveat Emptor Label 2020 Will Be Its \"Year of Vision\"POWAY, Calif., Jan. 21, 2020 (GLOBE NEWSWIRE) -- via OTC PR WIRE -- Solar Integrated Roofing Corporation (OTCPINK: SIRC), an integrated solar and roofing installation company specializing in commercial and residential properties with a focus on acquisitions of like companies to build a footprint nationally, announced today an update on its Caveat Emptor Label and that 2020 will be its \"year of vision.\"David Massey, CEO of SIRC, commented, \"we have received the CVEM label because of some inconsistencies in our pre- and post-audit financial statements. Last year, we filed a Form 1-A for our Regulation A offering with corresponding financial statements before our audit was completed. We are submitting an amendment to our Regulation A offering to reflect the results of the audit and to ensure consistency in the information we are providing to investors, OTC Markets, and the SEC. Updates to our financial statements will also include formatting changes to ensure compliance with Generally Accepted Accounting Practices (\"GAAP\"). These changes will be completed within the next week.\"Commenting further, Massey said, \"despite complying with these change requests, we are subject to having the CVEM label for a 30-day period pursuant to OTC Markets policy. We intend to release updates speaking to the completion of these requests in the coming days.Massey continued, there is no excuse for our taking our eye off the ball with our financial statements and filings. I can assure you that this will not occur again and that measures are being implemented to make sure that this does not happen again.Finally, Massey said, we intend to post our six-month plan and show how we will reach our goals by June 30, 2020 on our web site this week. We will provide timelines and guidance for the execution of this short-term plan. We strongly believe that our shares are undervalued. We have built a strong foundation and will continue to add accretive assets to that foundation while growing revenues and earnings to increase shareholder value. About Solar Integrated Roofing CorporationSolar Integrated Roofing Corporation is an integrated solar and roofing installation company specializing in commercial and res...