Solar Integrated Roofing Corp Answers Investor Questions

HENDERSON, Nev., Jan. 11, 2024 (GLOBE NEWSWIRE) -- Solar Integrated Roofing Corp. (OTC: SIRC) (“SIRC” or “the Company”), an integrated, single-source solutions provider of solar power, roofing and EV charging systems answers Investor Questions. Brad Rinehart, CEO tackles the questions brought forward from Investors. “I have always been transparent and open with our investors and will continue to do so as we enter 2024. While there are still challenges ahead, SIRC has made significant progress and I expect the year to be a positive growth year for all companies under the SIRC umbrella.”

Companies under the SIRC Umbrella

SIRC will be making the move to consolidate brands and run them as DBA’s under the SIRC name. Consolidating brands not only makes accounting, banking, and insurance easier but will also reduce administrative costs. McKay and Montross brands will be consolidated as the roofing branch and will retain the McKay Roofing name. Milholland will remain the residential solar arm. PLEMCo will retain its identity as it remains strong in government contracting, EVSE, BESS, and commercial solar projects. A project is underway to remove the remaining brands from both websites.

Does SIRC have a COO?

During the October investor update podcast, Brad Rinehart announced the promotion of Mohammad Suri to COO. Since taking the reins in the COO role, Mohammad has been working closely and providing leadership to both the roofing and solar divisions in addition to managing the operations at PLEMCo. During the same update, it was announced that Julie Brehm would move to Senior Vice President, Sales and Marketing for all SIRC sales functions.

Why did SIRC sell Balance?

SIRC is a construction company in the renewable energy space while Balance Claims is an adjusting service function in the roofing industry. Given the uncertainty in the insurance industry, especially as large insurers exit the Florida, Texas, and California markets, and some stop covering roofs altogether, I felt it would be best to divest Balance and use those proceeds for the other construction divisions. Balance will be much better positioned to serve their markets under their new ownership structure and SIRC will be able to use those proceeds to support construction activities in the other operating divisions. It was a good decision for SIRC and for Balance.