Modern Pro Solutions Announces Corporate Restructuring Plan
02/24/2023 - 09:00 AM
CHINO, CA / ACCESSWIRE / February 24, 2023 / Harrison, Vickers & Waterman, Inc. ("HVCW"), through its operating subsidiary, Pacific Energy Network LLC, d/b/a Modern Pro Solutions ("MPS"), (together the "Company") (OTC PINK:HVCW) announces corporate restructuring to increase profitability while decreasing overhead and liabilities.
Modern Pro Solutions has determined that as the solar residential rooftop industry continues to face certain challenges, it is time to get ahead of the curve and revamp the way it does business. In order to cut costs and liabilities, the company has created a new structure in which four new divisions have been created. These include sales, lead generation, training and consulting services to other industry partners, and mergers and acquisitions of other sales and lead generating companies. MPS will no longer be performing in-house installations, as the need for more flexibility within the markets the company services nationwide is paramount at this time. Installations will now be sub-contracted. This allows MPS to cut expenses and overhead. The costs of managing large warehouses, trucks, gasoline, insurance, certain licenses and equipment procurement are no longer needed. This also means that a more remote employee structure, along with utilization of artificial intelligence and technologies, still allows the company to run a large solar company with less people. Although revenues will most likely decrease, doubling its profitability is a much more sustainable model for the business and shareholders.
The state of California will soon be implementing NEM 3.0, an initiative that increases costs across the board, thus making it more difficult to operate a profitable solar company. Mr. Tetsch states, "California basically bet against local solar. California has about a 20% penetration rate of solar customers which becomes a red flag, so it's at this point when government feels the need to place its hands on the industry. However, this is a great opportunity to seek those places where there is only a 6% -8% penetration. Fortunately, we have those relationships in place and ready to move forward."
MPS has already solidified several relationships within the solar panel installation industry where they will be able to absorb all projects that have not been completed to date.
"Taking care of the customer is our ultimate objective and this is the best way to accomplish that going forward," says Tetsch.
There is great opportunity for mergers and acquisitions in the space and the company has already been in negotiations with several companies.
"There are a multitude of smaller companies that will benefit from our resources such as lead generation, consulting, marketing, sales, and recruiting. Each party, having an equity stake, creates the perfect environment to help grow the business," says Tetsch.
A share structure update as well as additional opportunities will be announced soon.
About Modern Pro Solutions
Founded in 2016, Pacific Energy Network LLC, d/b/a Modern Pro Solutions, has quickly become one of the largest and most successful home services companies in the nation with a footprint across multiple states. With a focus on customer satisfaction and strategic business planning, MPS has grown into a multi-product business that has increased revenue year over year and expanded its reach into new markets across the United States.
For further information, please visit the Modern Pro Solutions website at www.joinmps.com .
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995
The statements contained in this news release which are not historical facts may be "forward-looking statements" that involve risks and uncertainties which could cause actual results to differ materially from those currently anticipated. For example, statements that describe MPS's hopes, plans, objectives, goals, intentions, or expectations are forward-looking statements. The forward-looking statements made herein are only made as of the date of this news release. Numerous factors, many of which are beyond HVCW and MPS's control, will affect actual results. HVCW and MPS undertake no obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances. This news release should be read in conjunction with HVCW's most recent financial reports and other filings posted with the OTC Markets and/or the U. S. Securities and Exchange Commission by HVCW.
For More Information Contact
Investor Relationsinvestorrelations@joinmps.com
SOURCE: Harrison Vickers and Waterman, Inc.
https://www.accesswire.com/740623/Modern-Pro-Solutions-Announces-Corporate-Restructuring-Plan
