Company Shrugs Off Slow First Quarter Start and Generates Over $800K In New Projects in May Alone
ALISO VIEJO, CA, May 30, 2018 (GLOBE NEWSWIRE) -- XsunX, Inc. (OTC: XSNX), a leading solar and energy saving technologies provider, announced today that its large pool of pending sales proposals have begun to close resulting in the generation of over $800,000 in newly awarded projects in May alone.
“It’s great to see our marketing efforts paying off,” stated Tom Djokovich, CEO of XsunX, Inc. “We experienced project postponements and client indecision in our first quarter, but as we entered 2018 and our second quarter, our deal flow began to pick up with over $750,000 in new projects awarded thru March. Now, as May comes to an end, we have added another $800,000 in new projects which helps to put us on track for a better year than 2017.”
Over the past two years the Company has broadened its suite of products and general construction services to now include commercial solar car, truck, and storage canopies, energy storage and energy management technologies, EV charging, commercial roofing, and steel canopies for multiple applications.
“Solar, energy storage, and our solar canopy business, all service large and fast growing commercial markets, but require more time to finance, plan, permit, and deliver than residential sales. For this reason, we have been working hard to increase our project flow in an effort to create more consistent period to period results. What’s exciting about our recent results is that we are starting to see an increase in pre-funded projects. Currently we have approximately $1.2 million in projects that will not be delayed waiting for financing to complete,” concluded Mr. Djokovich.
About XsunX:
XsunX specializes in the sale, design, and installation of solar photovoltaic power generation (PV), energy storage, and energy efficiency technologies to provide our clients long term savings, predictability, and control of their energy costs. Making solar energy a sound investment for our clients is our mission.
For more information, please visit the Company's website at www.xsunx.com, or to learn more about the benefits of solar energy for your business or home schedule a free PV project assessment.
Safe Harbor Statement: Matters discussed in this release contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical facts included in this press release are forward-looking statements. When used in this press release, the words "anticipate," "believe," "estimate," "may," "intend," "expect" and similar expressions identify such forward-looking statements. These statements relate to future events or to the Company's future financial performance, and involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. Investors should not place any undue reliance on forward-looking statements since they involve known and unknown, uncertainties and other factors which are, in some cases, beyond the Company's control which could, and likely will, materially affect actual results, levels of activity, performance or achievements. Any forward-looking statement reflects the Company's current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to operations, results of operations, growth strategy and liquidity. Such risks, uncertainties and other factors, which could impact the Company and the forward-looking statements contained herein, are included in the Company's filings with the Securities and Exchange Commission. The Company assumes no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future.