OTCQB-MKT: SLTK: US $1.75 +0.09 - +5.42%

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Solis Tek Inc. Announces Record Revenues for Year End 2016

Friday, March 31, 2017 3:08:17 PM America/Los_Angeles


CARSON, CA
--(Marketwired - March 30, 2017) - Solis Tek Inc. (SLTK), a leading provider of digital lighting equipment for hydroponic cannabis cultivation, reported record revenues for the year ended December 31, 2016 of $8,563,751 compared to revenue of $7,713,456 in 2015. This represents an 11% increase in revenue over 2015. Gross profit for the years ended December 31, 2016 and 2015, was $3,123,859 and $2,719,036, respectively. The gross profit increase of $404,823 or 15% was primarily due to the increase in revenue.

Business and Financial Highlights for 2016

  • - Company had revenues of $8,563,751 for 2016; up 11% from full year 2015;
  • - Gross Profit of $3,123,859 for fiscal 2016; up 15% from full year 2015;
  • - Gross Margins increased to 36.5% up from 35.3% in 2015;
  • - Cash balances increased 159% year over year;
  • - Won Dope Magazine's 2016 Best Lighting Company Award

Newly appointed CEO and Board member Dennis G. Forchic (co)-founded five start-up entities over the last 25 years. His experience includes leading multiple early stage growth companies to top line revenues in the mid-to-upper eight figure range prior to exiting through successful sales transactions to the investment communities. One of the transactions, an east coast manufacturing company, had an annual run rate approaching nine figures and 400+ employees at the time of his exit. Mr. Forchic brings national and international business experience and full spectrum business acumen along with experienced leadership skills to the Solis Tek management team. Over the last 15 months Mr. Forchic has acted as senior advisor to Solis Tek's Chief Executive Officer, and integrated himself into the agri-grow, hydroponic, and cannabis industry. Mr. Forchic obtained a BBA in Finance in 1988 from the University of Miami. Mr. Lien, co-founder of Solis Tek, Inc., took the additional title of Chairman in addition to his President duties and will focus his efforts on his greatest competencies in sales, commercial customer development, and new product/technology innovations.

Incoming CEO, Dennis G. Forchic, commented "Throughout 2016, Solis Tek's revenues reached record levels as more states embraced legalized cannabis sales, driving commercial demand for indoor lighting equipment for cannabis cultivation. In addition to securing repeat sales from existing clients, we were pleased to sign new sales agreements with leading industry players such as DNA Genetics, a cultivator of diverse cannabis strains which has won 150 plus industry awards, and GrowBlox Sciences, Inc., a pioneer in the research and development of pharmaceutical-grade, cannabinoid therapies. GrowBlox Sciences, Inc. adheres to strict regulatory and safety standards to support its clinical trials and securing them as a client highlights our credentials as the industry-leading supplier of high quality, premium lighting products for cannabis cultivation. Our reputation for developing highly differentiated lighting products supported by unique and advanced technologies was further demonstrated when we won the DOPE Industry Awards for Best Lighting Company. We expect the ongoing evolution of the legal cannabis market to mobilize a growing network of credible producers of regulated, high quality cannabis which will continue to drive demand for our diverse range of ballasts, lamps and other lighting equipment throughout 2017."

To be added to the Solis Tek email distribution list, please email SLTK@kcsa.com with SLTK in the subject line.

About Solis Tek:

Solis Tek Inc. is an importer, distributor and marketer of digital lighting equipment for the hydroponics industry with specific focus on the research, design, development and manufacturing of advanced, energy efficient indoor/greenhouse horticulture lighting and ancillary equipment. Using its proprietary technologies, the Company provides innovative aptitudes with its ballast, reflector and lamp products. The company's vision is to apply the latest advances in high efficiency lighting and controls technology as well as advanced manufacturing techniques to deliver highly differentiated products with clear benefits at competitive prices to the greenhouse and indoor horticulture markets. The Company's customers include retail stores, distributors and commercial growers in the United States and abroad. For more information please visit our website www.solis-tek.com.

Safe Harbor Statement

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements are based on the current plans and expectations of management and are subject to a number of uncertainties and risks that could significantly affect the Company's current plans and expectations, as well as future results of operations and financial condition. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Source: http://finance.yahoo.com/news/solis-tek-inc-announces-record-235720795.html

Posted By Admin

Solis Tek Wins Award for Dope Magazine 2016 Best Lighting Company

Thursday, April 28, 2016 10:17:57 AM America/Los_Angeles

CARSON, CA--(Marketwired - Apr 20, 2016) - Solis Tek Inc. (OTCQB: SLTK) ("Solis Tek" or the "Company"), a leading provider of indoor grow light equipment for the hydroponics industry has been announced as the winner of the DOPE Industry Awards for Best Lighting Company.

Solis Tek has had great success in providing top quality lighting equipment in the cannabis industry's transition of recreationally and medically legal markets. Solis Tek's lighting products are currently being outfitted into many legal commercial facilities throughout the nation. The company has been able to distinguish itself from the competition by not only offering a broad range of different lighting technologies, but also by establishing itself as the premium brand of lighting products for the cannabis industry. The Chief Executive Officer of Solis Tek, Alan Lien, commented, "We are very thankful for the award that recognizes us as the best lighting company in the hydroponics/cannabis industry. This award was voted by majority industry insiders and it really means a lot to us. This not only validates our efforts and the products we provide, but also encourages us to keep progressing in developing better and more innovative products to keep this industry moving in the right direction."

About Solis-Tek:

Solis Tek Inc. is an importer, distributor and marketer of digital lighting equipment for the hydroponics industry with specific focus on the research, design, development and manufacturing of advanced, energy efficient indoor/greenhouse horticulture lighting and ancillary equipment. Using its proprietary technologies, the Company provides innovative aptitudes with its ballast, reflector and lamp products. The company's vision is to apply the latest advances in high efficiency lighting and controls technology as well as effective manufacturing techniques to deliver highly differentiated products with clear benefits at competitive prices to the greenhouse and indoor horticulture markets. The Company's customers include retail stores, distributors and commercial growers in the United States and abroad. For more information please visit our website www.solis-tek.com.

About Dope Magazine:

DOPE Magazine is a lifestyle publication dedicated to bringing an intelligent and creative approach to the many facets of the cannabis movement. From breaking news to celebrity features, and strain reviews to daily blogs, our coverage is aimed to live up to our mission: Defending Our Plant Everywhere.

DOPE Magazine is distributed nationally and free to our readership. Our website features not only the vast variety of print content being generated in states with legal cannabis content, but also latest happenings, behind the scenes coverage, nug galleries and more. Basically, we are a collaboration of all things DOPE.

 Safe Harbor Statement

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements are based on the current plans and expectations of management and are subject to a number of uncertainties and risks that could significantly affect the Company's current plans and expectations, as well as future results of operations and financial condition. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Contact:

Solis Tek Inc.
Alan Lien
CEO
ir@solis-tek.com
Phone: (888) 998-8881
 
Posted By SolisTek Admin

CARSON, CA--(Marketwired - Apr 13, 2016) - SolisTek Inc. (OTCQB: SLTK) Solis Tek Inc., a leading provider of digital lighting equipment for the hydroponic industry, reported record revenue from sales for the year ended December 31, 2015 of $7,713,456 compared to revenue of $6,155,379 in 2014. This represents a 25% increase in revenue over 2014. Gross profit for the years ended December 31, 2015 and 2014, was $2,719,036 and $1,516,630, respectively. The gross profit increase of $1,202,406 was primarily due to the increase in revenue, but the Company's gross profit margin also increased from 25% during 2014 to 35% during 2015. The increase in profit margin related to greater operating efficiencies coupled with sales of higher margin products during the 2015 period, primarily lamp products.

For additional financial information on the company please visit the following link: http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=11306652

CEO Alan Lien commented "We are pleased that we were able to achieve record revenues from sales in 2015 as we expect to increase revenues in 2016. We are very excited about the growth in our industry and feel that the company is well positioned to take advantage of increased demand for hydroponic equipment."

About Solis-Tek:
Solis Tek Inc. is an importer, distributor and marketer of digital lighting equipment for the hydroponics industry with specific focus on the research, design, development and manufacturing of advanced, energy efficient indoor/greenhouse horticulture lighting and ancillary equipment. Using its proprietary technologies, the Company provides innovative aptitudes with its ballast, reflector and lamp products. The company's vision is to apply the latest advances in high efficiency lighting and controls technology as well as advanced manufacturing techniques to deliver highly differentiated products with clear benefits at competitive prices to the greenhouse and indoor horticulture markets. The Company's customers include retail stores, distributors and commercial growers in the United States and abroad. For more information please visit our website www.solis-tek.com.

Safe Harbor Statement
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements are based on the current plans and expectations of management and are subject to a number of uncertainties and risks that could significantly affect the Company's current plans and expectations, as well as future results of operations and financial condition. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Source: http://www.marketwired.com/press-release/solis-tek-inc-records-revenues-7713456-gross-profit-2719036-2015-year-end-financials-otcqb-sltk-2114670.htm

Posted By SolisTek Admin

Solis Tek to Attend the Maximum Yield Indoor Gardening Expo in Boston

Wednesday, November 11, 2015 3:29:57 PM America/Los_Angeles

CARSON, CA--(Marketwired - Oct 22, 2015) -

Solis Tek Inc. (OTCQB: SLTK) has announced that it will be attending the Maximum Yield Indoor Gardening Expo on Saturday October 24 from Noon-6:00PM and Sunday October 25 from Noon-5:00 PM in Boston, Massachusetts at the Hynes Convention Center located at 900 Boylston Street. All attendees are welcome; visit us at our Booth #s 319 & 321. The CEO of Solis Tek, Alan Lien, commented, "We are looking forward to attending our first conference as a publicly traded company. The Hydroponics/Cannabis industry continues to grow significantly as legislation continues to change in various states. Our equipment sales have increased significantly over the past several years and we expect to continue to capitalize on this growing market."

Please see conference details at the following website: www.indoorgardenexpo.com

About Solis-Tek:

Solis Tek Inc. is an importer, distributor and marketer of digital lighting equipment for the hydroponics industry with specific focus on the research, design, development and manufacturing of advanced, energy efficient indoor/greenhouse horticulture lighting and ancillary equipment. Using its proprietary technologies, the Company provides innovative aptitudes with its ballast, reflector and lamp products. Our vision is to apply the latest advances in high efficiency lighting and controls technology as well as effective manufacturing techniques to deliver highly differentiated products with clear benefits at competitive prices to the greenhouse and indoor horticulture markets. The Company's customers include retail stores, distributors and commercial growers in the United States and abroad. For more information please visit our website www.solis-tek.com.

Safe Harbor Statement

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements are based on the current plans and expectations of management and are subject to a number of uncertainties and risks that could significantly affect the Company's current plans and expectations, as well as future results of operations and financial condition. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Posted By SolisTek Admin

http://www.otcmarkets.com/stock/SLTK/news
(via Thenewswire.ca)


October 1 2015 / TheNewswire /Solis Tek Inc.(SLTK:OTCQB) is pleased to announce that it has completed a reverse merger transaction with Cinjet Inc.. Solis-Tek is currently trading on theOTCQB markets under the ticker symbol "SLTK". A 6 for 1 forward split of the issued and outstanding shares of common stock and name change from Cinjet Inc. to Solis Tek Inc. was completed on July 7, 2015. The CEO Alan Lien commented "We are very excited to become a publicly traded company as we continue to grow and execute on our fundamental business. The hydroponics and cannabis industry has been growing significantly and we expect to continue to be able to capitalize on this market and increase our sales in the future."


About Solis-Tek:

Solis Tek Inc. is an importer, distributor and marketer of digital lighting equipment for the hydroponics industry with specific focus on the research, design, development and manufacturing of advanced, energy efficient indoor/greenhouse horticulture lighting and ancillary equipment. Using certain of its proprietary technologies, the Company provides innovative aptitudes with its ballast, reflector and lamp products. Our vision is to apply the latest advances in high efficiency lighting and controls technology as well as effective manufacturing techniques to deliver highly differentiated products with clear benefits at competitive prices to the greenhouse and indoor horticulture markets. The Company's customers include retail stores, distributors and commercial growers in the United States and abroad. For more information please visit our website www.solis-tek.com.


Safe Harbor Statement

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements are based on the current plans and expectations of management and are subject to a number of uncertainties and risks that could significantly affect the Company's current plans and expectations, as well as future results of operations and financial condition. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.


Contact:

Solis Tek Inc.

Alan Lien, CEO

ir@solis-tek.com

Phone: (888) 998-8881

Copyright (c) 2015 TheNewswire - All rights reserved.

Posted By SolisTek Admin

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