Duyuru • Feb 23
Solar Integrated Roofing Corporation Provides Operational Update on Solar Gard Project Solar Integrated Roofing Corporation provided operational update on Solar Gard Project. This project involves the installation of a coating system over the existing roofing material. The new coating system is Title 24 compliant and has a 20-year lifespan. This project involves a 2-part process where the first coat covers the roof, and the second coat applies an acrylic coating with granules. This makes the roof safe for pedestrians to walk across when they need to access the roof for mechanical maintenance. The project should wrap up in 6-8 weeks, weather permitting. Duyuru • Oct 10
Solar Integrated Roofing Enters into Settlement Agreement with Jason Newby to Resolve Previously Filed Claims Solar Integrated Roofing Corporation announced that it has entered into a settlement agreement with Jason Newby to resolve the claims filed by Mr. Newby, and the counterclaims filed by the Company. Under the terms of the settlement agreement, the Company has agreed to (i) issue a $2.1 million convertible promissory note to Mr. Newby to formalize liabilities carried on the Company’s balance sheet since 2021 (including a $2 million related party balance owed to Mr. Newby in connection with the acquisition of Kinetic Investments Inc. dba Future Home Power (‘FHP’) in June 2021), which note is convertible into shares of Company common stock at a conversion price equal to 80% of the closing price of the Company’s common stock on the date of issuance of the note, and (ii) issue Mr. Newby 150,000,000 shares of Company common stock in satisfaction of unpaid sales commissions in excess of $6,000,000, and Mr. Newby has agreed to cancel all of his shares of Class D Preferred Stock of the Company. The Company also agreed to offer certain former sales representatives of FHP convertible promissory notes in satisfaction of claims by the representatives for unpaid sales commissions, each of the parties agreed to release the other from all claims, with the lawsuit between the parties to be dismissed with prejudice. Duyuru • Jun 16
Solar Integrated Roofing Corporation Announces Resignation of Dave Massey as Board of Director Solar Integrated Roofing Corporation announced that Dave Massey subsequently resigned from his position on the Board of Directors and retired his Preferred A shares and his common stock. He currently continues to hold Preferred B shares but has no other involvement in the Company. Duyuru • May 26
Tribeca Energy entered into an agreement to acquire Solar Integrated Roofing Corporation (OTCPK : SIRC). Tribeca Energy entered into an agreement to acquire Solar Integrated Roofing Corporation (OTCPK : SIRC) on May 25, 2023. The share exchange agreement will give Tribeca Energy 100% ownership of the Solar Integrated Roofing’s shares as well as a majority of its board seats. Tribeca Energy shall consummate a merger agreement to list on the NYSE/Nasdaq by October 30, 2023. Following the execution of the definitive agreements, the majority of the board of Solar Integrated Roofing shall be comprised of new members appointed by Tribeca Energy. Duyuru • Feb 17
Solar Integrated Roofing Corporation (OTCPK:SIRC) has signed a binding Letter of Intent to acquire AVCO Roofing, Inc. Solar Integrated Roofing Corporation (OTCPK:SIRC) has signed a binding Letter of Intent to acquire AVCO Roofing, Inc. on February 15, 2023. Closing of any potential acquisition is subject to final due diligence, negotiation and execution of a definitive purchase agreement and all necessary approvals. Duyuru • Feb 02
Solar Integrated Roofing Corporation announced that it has received $25 million in funding Solar Integrated Roofing Corporation announced a private placement of convertible drawdown term note for gross proceeds of $25 million on February 1, 2023. The transaction included participation from an institutional investor. The note carries a principal amount of $25 million at an interest rate of 6% with a 5% original issue discount. The term note converts into common stock at a fixed price of $4.00 per share barring an event of default. Each drawdown has a maturity date six months from the issuance date. Duyuru • Jan 28
Brownlie Hansen LLP Commences Lawsuit on Behalf of Jason Newby Against Solar Integrated Roof Corp. and David Massey Jason Newby, founder of Kinetic Investments Inc. dba Future Home Power (FHP), has filed a lawsuit in the United States District Court for the Southern District of California against Solar Integrated Roof Corp. and its Cochairman of the Board of Directors and former Chief Executive Officer, David Massey (Newby v. Solar Integrated Roofing Corp., et al., Case number 3:23-cv-142-LL-MSB). FHP sells residential solar systems. In June 2021, FHP became a wholly owned subsidiary of SIRC after SIRC acquired the company from Newby. Newby continued as President of FHP after the acquisition until he was forced out of the Company on December 29, 2022. The lawsuit involves the sale of FHP to SIRC and SIRC’s failure to compensate Newby as promised in the merger agreement between SIRC, FHP and Newby and the schedules to the merger agreement. Newby’s lawsuit alleges claims of fraud, constructive termination, breach of contract and defamation and seeks damages exceeding $67 million. Duyuru • Jan 19
Solar Integrated Roofing Corp. Announces Amendment of Settlement Agreement with Brian Milholland and Milholland Family Trust LP Solar Integrated Roofing Corp. announced the amendment of its settlement agreement with Brian Milholland and Milholland Family Trust LP. Pursuant to the renegotiated settlement, SIRC will discharge its remaining $7.0 million obligation to Milholland by the issuance of an aggregate of 40 million shares of common stock, the payment of $1.6 million in four equal installments following a significant capital raise by SIRC, and the reimbursement of expenses. Duyuru • Dec 30
Solar Integrated Roofing Corp. Announces Amicable Settlement of Legal Action Against Pablo Diaz Curiel Solar Integrated Roofing Corp. announced the amicable settlement of the pending legal action against Pablo Diaz Curiel, as well as potential cross-claims by Mr. Diaz against the company. The terms of the settlement include, among other things, a general release of all past and future claims between the parties arising out of the company's acquisition of USA Solar Networks, LLC, including a waiver of the "Make Whole" provision in the original Purchase and Sale Agreement. Duyuru • Dec 02
Solar Integrated Roofing Corp. Appoints Martin Mcdermut as Chief Financial Officer Solar Integrated Roofing Corp. announced the appointment of seasoned financial executive Martin “Marty” McDermut as its Chief Financial Officer, effective Dec. 01, 2022. Martin McDermut brings more than 30 years of broad financial leadership to SIRC, with a strong track record in strategic and financial planning, business development, mergers and acquisitions, and SEC reporting for NASDAQ-listed technology companies. Prior to joining SIRC, McDermut was CFO of Resonant Inc., a Nasdaq-listed provider of radio frequency (RF) filter solutions for the mobile device industry, before being acquired by Murata Manufacturing. Prior to Resonant, McDermut served as Vice President and CFO of Applied Micro Circuits Corporation, a publicly traded semiconductor company, which was acquired by MACOM Technology Solutions Holdings. In addition, he previously served as Senior Vice President, Finance and CFO of Vitesse Semiconductor Corporation, a publicly traded semiconductor company, which was acquired by Microsemi Corporation. He also previously served as CFO for other publicly traded companies including Iris International Inc. and Superconductor Technologies Inc. He is a member of the board of directors of CDTi Advanced Materials Inc. and he also serves as a member of the Board of Trustees of Sansum Clinic and on the Board of Trustees of CSUCI Foundation. McDermut holds a BA in Economics from the University of Southern California and an MBA from the University of Chicago Booth School of Business. He is a Certified Public Accountant. Duyuru • Nov 15
Solar Integrated Roofing Corporation announced delayed 10-Q filing On 11/14/2022, Solar Integrated Roofing Corporation announced that they will be unable to file their next 10-Q by the deadline required by the SEC. Duyuru • Oct 06
Solar Integrated Roofing Corp. Appoints Stefan Abbruzzese as President Solar Integrated Roofing Corp. announced the appointment of veteran operations executive Stefan Abbruzzese as President, effective immediately. Stefan Abbruzzese is an experienced operations and commercial leader with over 25 years' experience in financial services, software & technology, consumer and other commercial sectors. He is a seasoned professional who has built diverse world-class teams and led global organizations across all stages of the company lifecycle and through several business cycles. Most recently, Mr. Abbruzzese served as Partner and Chief Operating Officer of L Catterton, a leading private equity firm with a focus on consumer brands. At L Catterton, Stefan spearheaded the operational integration of Catterton Partners' merger with select LVMH private equity businesses, with the newly combined firm forming one of the largest global retail and consumer focused private equity businesses. Previously, Stefan served at GE Capital in a variety of roles and responsibilities, including leading the commercial and business platform for its North American Bank Loan Group, where he managed a multi-billion-dollar portfolio of corporate and commercial loans and a team of multifunctional employees. Mr. Abbruzzese holds a BA cum laude in Physics from the College of the Holy Cross, and a Master of Business Administration and Master of Science in Accounting from Northeastern University, Graduate School of Business. Duyuru • Feb 25
Solar Integrated Roofing Corp Appoints Gregory Craig to Its Board of Directors Solar Integrated Roofing Corp. announced the appointment of Gregory Craig, a veteran entrepreneur, advisor and energy industry veteran, to the Board of Directors. Gregory Craig is a 30-year US energy industry veteran and noted entrepreneur. Mr. Craig conceived, launched, and helmed wholesale energy trader Cook Inlet Energy, growing it to over $3 billion in US revenue, ultimately selling it to Macquarie Bank to form their US wholesale operations. Most recently, Mr. Craig was Co-Founder, CEO, and Board Member of Griddy Energy, a disruptive tech-based energy retailer and first to market with an app-driven, real-time wholesale, subscription-based model for retail electricity. Duyuru • Jul 15
Solar Integrated Roofing Corporation (OTCPK:SIRC) signed a purchase agreement to acquire USA Solar Network LLC. Solar Integrated Roofing Corporation (OTCPK:SIRC) signed a purchase agreement to acquire USA Solar Network LLC on July 13, 2021. Duyuru • Jun 10
Solar Integrated Roofing Corporation (OTCPK:SIRC) acquired Future Home Power. Solar Integrated Roofing Corporation (OTCPK:SIRC) acquired Future Home Power on June 9, 2021. Closing of acquisition is subject to final due diligence, negotiation and execution of a definitive purchase agreement and all necessary approvals. Solar Integrated Roofing Corporation expects the acquisition to be immediately accretive and to rapidly grow to $1 million per week in incremental sales at a robust 45% gross margin profile, capturing value across the full customer lifecycle.
Solar Integrated Roofing Corporation (OTCPK:SIRC) completed the acquisition of Future Home Power on June 9, 2021. Duyuru • May 05
Solar Integrated Roofing Corporation (OTCPK:SIRC) completed the acquisition of Balance, LLC. Solar Integrated Roofing Corporation (OTCPK:SIRC) signed a binding term sheet to acquire Balance, LLC on April 20, 2021.
Solar Integrated Roofing Corporation (OTCPK:SIRC) completed the acquisition of Balance, LLC on May 4, 2021. Duyuru • Mar 20
Solar Integrated Roofing Corporation (OTCPK:SIRC) completed the acquisition of Pacific Lighting Management, Inc. Solar Integrated Roofing Corporation (OTCPK:SIRC) agreed to acquire Pacific Lighting Management, Inc. on February 11, 2021. Closing of any potential acquisition is subject to final due diligence, negotiation and execution of a definitive purchase agreement and all necessary approvals. Target closing is by February, 2021.
Solar Integrated Roofing Corporation (OTCPK:SIRC) completed the acquisition of Pacific Lighting Management, Inc. on March 18, 2021. Duyuru • Feb 19
Solar Integrated Roofing Corporation (OTCPK:SIRC) signed a binding letter of intent to acquire Cornerstone Construction, LLC. Solar Integrated Roofing Corporation (OTCPK:SIRC) signed a binding letter of intent to acquire Cornerstone Construction, LLC on February 18, 2021. Cornerstone Construction reported sales of over $15 million in 2020. Hunter Ballew, Founder and Chief Executive Officer of Cornerstone Construction will work with David Massey, Chief Executive Officer of Solar Integrated Roofing Corporation and his team. Duyuru • Feb 13
Solar Integrated Roofing Corporation (OTCPK:SIRC) agreed to acquire Pacific Lighting Management, Inc. Solar Integrated Roofing Corporation (OTCPK:SIRC) agreed to acquire Pacific Lighting Management, Inc. on February 11, 2021. Closing of any potential acquisition is subject to final due diligence, negotiation and execution of a definitive purchase agreement and all necessary approvals. Target closing is by February, 2021. 