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 Corporation
Solar Integrated Roofing Corporation is 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. For more information, please visit: www.solarintegratedroofingcorp.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.
Contact:
Marlena LeBrun
760-566-9116
marlenalebrun@gmail.com
https://www.facebook.com/secureroofingandsolar/
https://www.linkedin.com/company/sirc-stock/about/