8-K
filed March 17, 2023, 7:59 PM ET
CIK 0001756704
M&A
confidence high
sentiment neutral
materiality 0.60
Solar Integrated Roofing acquires remaining 40% of Pacific Lighting for $600k; authorizes 1.5B shares
SOLAR INTEGRATED ROOFING CORP.
- Bought remaining 40% interest in Pacific Lighting Mgt for $600,000 in three $200k installments due March 15, April 15, May 15, 2023.
- Payments first apply to settling $288,774 in prior seller loans; balance toward share buyout.
- If any payment is 3+ business days late, sellers may reacquire 100% of subsidiary (excluding its liabilities).
- Authorized common stock increased to 1,500,000,000 shares from prior lower amount.
Key facts
Extracted from this filing and checked against the source text.
Governance Changes
SEC 8-K Item 5.03/5.05/5.06
confidence 0.9
SOLAR INTEGRATED ROOFING CORP.: Increased authorized common stock to 1,500,000,000 shares (effective 2023-03-16).
- Change
- charter amendment
- Effective
- 2023-03-16
Exact text from the filing
On March 16, 2023, the Company filed with the State of Nevada a Certificate of Amendment to its Articles of Incorporation, increasing the number of shares of common stock authorized for issuance by the Company to 1,500,000,000 shares.
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
SOLAR INTEGRATED ROOFING CORP. amended Addendum with Amad Noruz and Tim Hatamian (the "Sellers") valued at $600,000 (effective 2023-03-14).
- Action
- amendment
- Agreement
- equity purchase
- Counterparty
- Amad Noruz and Tim Hatamian (the "Sellers")
- Value
- $600,000
- Effective
- 2023-03-14
Exact text from the filing
On March 14, 2023, Solar Integrated Roofing Corp. (the “ Company ”), entered into an Addendum (the “ Addendum ”) to the Stock Purchase Agreement dated March 15, 2021, by and between Amad Noruz and Tim Hatamian (the “ Sellers ”) and the Company, pursuant to which the Company agreed to purchase the remaining 40% interest of Pacific Lighting Mgt, Inc., a California corporation (the “ Subsidiary ”), for $600,000, with $200,000 due March 15, 2023, $200,000 due April 15, 2023, and $200,000 due May 15, 2023.
View on SEC.gov
This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice.
See methodology for how this pipeline works.