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Stardust Solar Energy (OTCQB: SUNXF) has announced the adoption of a new By-Law No. 1, which includes advance notice provisions for director nominations. The new by-law establishes specific timeframes and requirements for shareholders intending to nominate directors.
For annual meetings, shareholders must provide notice 30 to 65 days before the meeting date, with special provisions for meetings announced with less than 40 days' notice. For special meetings, notice must be given within 15 days of the meeting announcement. The by-law will be presented for shareholder ratification at the annual meeting on September 18, 2025.
Stardust Solar Energy (OTCQB:SUNXF) reported an 80% increase in its system-wide project backlog, reaching $3.6 million in signed contracts, up from $2 million reported in February 2025. The backlog consists of residential and small-commercial solar-PV and battery-storage installations planned for the next 12 months.
The company has expanded its presence to 96 territories across North America, particularly in Sun Belt markets. Stardust Solar offers exclusive access to Tesla Powerwall and Hanwha Qcells panels, and has certified over 2,500 renewable-energy professionals through its accredited programs.
Stardust Solar Energy (OTCQB:SUNXF) has expanded its presence in Ontario with two new franchise territories in Etobicoke and Temiskaming, bringing its total network to 96 territories across North America and the Caribbean. The company has demonstrated significant growth, having more than tripled its franchise count since 2023.
CEO Mark Tadros highlighted Ontario as a high-potential region, where franchise partners will leverage the company's turnkey training platform, which has trained over 2,500 renewable-energy professionals. The expansion strengthens Stardust's Canadian network to over 30 territories, with management maintaining its guidance to exceed 100 territories by December 31, 2025.
Stardust Solar Energy (OTCQB: SUNXF), a North American renewable-energy installation and training services provider, reported strong Q1 2025 financial results. Revenue reached $1.00 million, up 20% year-over-year, while gross margin improved significantly to 48% from 27.4% in Q1 2024.
The company achieved record-high quarterly franchise fees and royalties of $0.33 million, representing a 2.5-fold growth compared to Q1 2024. Franchise territories expanded to 87, up from 83 at the end of 2024. Product gross profit increased 110% year-over-year to $0.10 million, with product gross margin reaching 18%.
The company reduced its loans and lease obligations by 44% to $0.43 million and maintained a strong balance sheet with $0.62 million in cash and working capital of $1.77 million. Management expects revenue growth acceleration throughout 2025, driven by franchise expansion and new training modules.
Stardust Solar Energy Inc. (TSXV: SUNXF) has appointed Paul Baluch to its Board of Directors, replacing Young Bann. Baluch brings 18 years of experience in services and franchising, with a proven track record in scaling businesses and leading high-growth teams.
At Premium Service Brands, Baluch led teams to scale to over 150 locations and $40M+ in system revenue, achieving 70% year-over-year growth. His previous role at Shack Shine and 1-800-GOT-JUNK? contributed to 4,700% growth and $30M+ in revenue over five years through restructuring operations and implementing business coaching systems.
Stardust Solar Energy (OTCQB: SUNXF) has released its 2024 audited financial statements, reporting $3.61 million in revenue, marking a 38% increase from 2023. The company's U.S. franchise segment showed exceptional growth, with revenue surging 483% to $1.25 million from $0.21 million in the previous year.
The company expanded its franchise territories from 27 to 83 in 2024, and has since reached 94 territories across North America. Operating results included one-time costs related to public listing: $0.99 million in professional fees and a $3.90 million non-cash reverse-takeover transaction cost, expected to decrease substantially in 2025.
Stardust Solar Energy (TSXV: SUN) provided an update regarding its Management Cease Trade Order (MCTO) situation. The British Columbia Securities Commission granted the MCTO on May 1, 2025, which prohibits the company's CEO and CFO from trading company securities until the filing of required 2024 annual financial statements and related documents.
The company's management continues working to complete the required documentation and confirms no undisclosed material information since its last update on June 12, 2025. Stardust Solar will continue issuing bi-weekly status updates in accordance with NP 12-203 guidelines until the situation is resolved.
Stardust Solar Energy Inc. (TSXV: SUN) has provided an update regarding its Management Cease Trade Order (MCTO) situation. The British Columbia Securities Commission granted the MCTO on May 1, 2025, which prohibits the company's CEO and CFO from trading company securities until the filing of required 2024 annual financial documents. The MCTO was issued due to the company's delay in filing its audited annual financial statements for the year ended December 31, 2024, along with management's discussion, analysis, and related certifications.
The company's management continues to work on completing these required documents and confirms no undisclosed material information exists since its May 15 update. Regular bi-weekly status updates will be provided until the situation is resolved. Importantly, the MCTO does not affect other shareholders' ability to trade their securities.
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