Sharc Intl Sys Inc Stock Price, News & Analysis

SHARC Energy has successfully closed a non-brokered private placement, raising $2 million through the sale of debenture units priced at $1,000 each. Each unit includes an 8% unsecured debenture and 5,000 common share purchase warrants, exercisable at $0.20 per share for 36 months. This financing will provide the company with the necessary working capital to support its growth and conversion of its sales pipeline into purchase orders. The debentures bear an annual interest rate of 8% and are repayable anytime before the maturity date. A 10% blocker provision restricts warrant exercise beyond a 10% holding. The proceeds will be used for working capital and general corporate purposes, enhancing SHARC Energy's position in the green technology sector.

SHARC Energy has announced a non-brokered private placement to raise up to $2 million through the issuance of up to 2,000 debenture units priced at $1,000 each. Each unit includes an 8.0% unsecured debenture and 5,000 common share purchase warrants. The debentures will be utilized for working capital and corporate growth. The warrants allow for the purchase of common shares at $0.20 per share for 36 months. There is no minimum number of units required to close the offering, and it can be closed in multiple tranches. Closing is subject to regulatory approvals, and securities issued will have a statutory hold period of four months plus one day.

On May 16, 2024, SHARC Energy (OTCQB: INTWF) reported its Q1 2024 financial results.

Key highlights include a Sales Pipeline of $17M and a Sales Order Backlog of $2.3M. Revenue for Q1 2024 was $0.8M, up 6% YoY, with a gross margin of 38%.

The company holds $2M in working capital and is debt-free. Important projects include PIRANHA pilot sites in Massachusetts, a mixed-use development in California, the False Creek NEU Expansion, a retrofit project in Yonkers, and a major Brooklyn redevelopment.

SHARC Energy is positioning for growth, leveraging its Sales Order Backlog for funding and expanding its footprint in North America.

SHARC Energy, a leader in wastewater energy transfer, received unanimous approval from the Massachusetts Board of State Examiners of Plumbers and Gas Fitters for ten PIRANHA pilot sites. The approval aims to showcase the effectiveness of WET systems across various sectors. SHARC Energy's collaboration with Eversource Energy and UA signifies strong industry support for WET technologies. Massachusetts' focus on decarbonization and promotion of Thermal Energy Networks (TENs) aligns with SHARC Energy's expansion strategy. The legislative support for TENs in Massachusetts and other states sets a favorable environment for SHARC Energy's growth. The company's systems are eligible for investment tax credits, further incentivizing adoption. Overall, SHARC Energy anticipates significant growth and profitability in the WET sector.

SHARC Energy announced its 2023 year-end financial results, with a Sales Pipeline of 16.9M and Sales Order Backlog of $3.1M, showing significant growth. The company reported revenues of $1.6M for YE 2023, with an improved gross margin of 43%. Despite challenges like fluctuating interest rates, SHARC Energy remains optimistic about future revenue growth.