|By Marketwired .||
|May 20, 2014 07:15 AM EDT||
ALISO VIEJO, CA -- (Marketwired) -- 05/20/14 -- XsunX, Inc. (OTCQB: XSNX), a solar energy solutions provider, today announced the accelerated sale of new solar systems, resulting in increased revenues, while meeting its gross margins target.
Tom Djokovich, CEO of XsunX, commented, "Everything we are doing appears to be headed in the right direction, which has allowed the company to begin to record revenue from completed systems with initial gross margins in excess of 30%. At the same time, we have nearly halved our operational costs and losses. With the sales through project delivery cycle requiring about 3 to 6 months for commercial systems, we are pleased to see that our early efforts are now resulting in so much positive momentum."
XsunX works directly with new business customers to document the financial benefits available from solar PV for their businesses, and then provides project design, engineering, and turnkey warranted installation. In addition, and dependent on the client's ability to monetize the substantial tax benefits provided through solar investments, the company offers zero down financing programs that allow customers to save through substantial tax benefits or immediate and meaningful monthly reductions to cash flows delivered through a low cost lease-to-own option.
Djokovich added, "Our system designs, technology, pricing, and finance options are exceptional and we have been addressing an under serviced area of the solar industry -- commercial system sales -- with growing success. Our goal now is to add to the millions we have in bids, close more sales, and grow revenues exponentially. We are hiring sales executives to help accelerate our project bid volume. With our added financing programs, and the addition of new sales personnel, we hope to continue our progress towards profitability."
XsunX provides solar energy solutions with the greatest bottom-line financial benefits for commercial and industrial users. Our background and experience spans virtually all aspects of solar, including technology assessment, design and development. We have a deep passion for solar and have worked to pioneer new technologies and solar solutions that make solar power an affordable energy option. For more information, please visit our website at www.xsunx.com.
Safe Harbor Statement
Matters discussed in this release contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical facts included in this press release are forward-looking statements. These statements relate to future events or to the Company's future financial performance, and involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. Investors should not place any undue reliance on forward-looking statements since they involve known and unknown, uncertainties and other factors which are, in some cases, beyond the Company's control which could, and likely will, materially affect actual results, levels of activity, performance or achievements. Any forward-looking statement reflects the Company's current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to operations, results of operations, growth strategy and liquidity. Such risks, uncertainties and other factors, which could impact the Company and the forward-looking statements contained herein, are included in the Company's filings with the Securities and Exchange Commission. The Company assumes no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future.
President and CEO