HENDERSON, Nev., Feb. 15, 2024 (GLOBE NEWSWIRE) -- Solar Integrated Roofing Corp. (OTC: SIRCD) (“SIRC” or “the Company”), an integrated, single-source solutions provider of solar power, roofing and EV charging systems provides updates on the MCA Loans and diversification of sales strategies.
Legacy MCA loans have burdened our operating cash flow since the executive leadership change in June 2023. SIRC was able to retire the last two remaining legacy MCA loans this week. “Retiring these legacy loans is a great relief and we are happy to have one more challenge behind us,” says Brad Rinehart, CEO.
“By keeping our focus on reducing operational costs and diversifying our offerings, we are starting to see the benefits,” adds Rinehart. Previously, SIRC focused primarily on residential solar which was extremely limiting and highly competitive. This approach also contributed to much of the decline when coupled with the California solar rebate changes. Being selective in the residential solar projects we take on, coupled with our growth in other areas, should help SIRC move past the current issues with residential solar profitability in the southern California market. We continue to grow a diversified project pipeline.
Our roofing repair team is now trained with talking points to generate solar leads and produce a personal introduction for our solar team to follow-up. In addition, our solar team is now armed with roofing knowledge and collateral to cross sell. Our teams no longer work in silos but can cross-sell and elevate all offerings. Having consolidated roofing and solar into one facility has not only reduced operating costs but has also created a single team working together.
In addition, the newly hired EV sales manager in San Diego will bring even more opportunities in the commercial market for combo selling with roofing, solar and EV Chargers. These strategic moves will allow SIRC to continue to grow and prosper.
About Solar Integrated Roofing Corp.
Solar Integrated Roofing Corp. (OTC: SIRCD) is an integrated, single-source solutions provider of solar power, roofing and EV charging systems, specializing in commercial and residential properties throughout North America. The Company serves communities by delivering the best experience through constant innovation & legacy-focused leadership. For more information, please visit the Company's Investor Relations website at www.solarintegratedroofing.com, Corporate website at https://www.sirc.com or join us on Twitter, LinkedIn or Facebook.
Press Release Contact:
Julie Brehm
jbrehm@sircfamily.com
