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SOLIS TEK, INC.

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Market Data: Yahoo Finance, Bloomberg, SEC Filings

Report Link: Research Update Released (Dated 04/19/2018)

Symbol: SLTK
Analyst: John Nobile
Taglich Rating: Speculative Buy
Price Target: $2.25
Time Horizon: 12 Months
Rating Established: November 20, 2017
Price When Established: $1.50
Most Recent Report: April 19, 2018
Price When Issued: $1.08


What's New

Solis Tek Announces 1Q18 Results

On May 15, 2018, 2018, Solis Tek Inc. (OTC: SLTK) announced results for its first quarter ended March 31, 2018.

For the quarter, the company reported revenue declined 65.1 % to $1 million from $2.9 million. The net loss was $371,000 or $(0.01) per share versus a net loss of $3.8 million or $(0.10) per share in 1Q17. Included in results for 1Q18 were $608,000 or $(0.02) per share of financing costs, a gain of $2.6 million or $0.07 per share related to the change in derivative liability, and a $674,000 or $0.02 per share gain related to the extinguishment of derivative liability.

Taglich Brothers estimates were for 1Q18 revenue of $1.7 million and a net loss of $2 million or $(0.05) per share.


Solis Tek to Acquire Arizona Operator; Agreement for Long-Term Facility Lease

On April 26, 2018, Solis Tek Inc. (OTC: SLTK) announced the execution of a letter of intent to acquire a limited liability company (Arizona Operator), providing turn-key services related to the management, administration and operation of a licensed medical marijuana cultivation and processing facility in the State of Arizona.

Arizona Operator entered into an exclusive management services agreement with an Arizona Licensee that was awarded a medical marijuana dispensary registration certificate (License) by the Arizona Department of Health Services. The License allows for the operation of an offsite cultivation and processing facility, to which the Arizona Operator has obtained the exclusive right to acquire, develop, manage and operate in conjunction with the Arizona Licensee, in exchange for certain management fees.

In anticipation of this acquisition, SLTK executed an option agreement for the right to enter into a long-term lease agreement with a local land owner, for the lease, use and occupancy of an expansive facility comprised of more than 70,000 square feet, which will be developed into a technologically advanced cultivation and processing facility in the State of Arizona.


Company Description

Solis Tek, headquartered in Carson, CA, is a developer, manufacturer, and distributor of products to commercial cannabis growers in both the medical and recreational space in legal markets across the US. The company’s lighting products have enabled cannabis growers to increase yield and lower costs in order to maximize their return on investment. Solis Tek also offers a line of organic nutrient products.


Company Reports

Research Update Released (Dated April 19, 2018)

Initial Research Report (Dated November 20, 2017)


Disclaimer

Please view our current disclosure and disclaimer on our most recent research report.