This past Friday Harrison, Vickers & Waterman Inc (OTCMKTS:HVCW) was in the news after it made an announcement through Modern Pro Solutions, its operating subsidiary. Modern Pro Solutions announced that there was going to be a corporate restructuring so as to boost profitability through the controlling of liabilities and overhead costs.
On Friday, HVCW stock ended flat at $0.0002 with 4.04 million shares, compared to volume of 178.52 million shares. The stock moved within a range of $0.0001 – 0.0002 after opening trade at $0.0002.
Modern Pro Solutions Announces Corporate Restructuring Plan
The company announced that the solar residential rooftop industry was experiencing a range of challenges and hence, it was time for it to get ahead and revamp its business. The focus would be on cutting costs and in order to accomplish that the company decided to create as many as four new divisions. The four divisions in question are dedicated to consulting, sales, training and lead generation.
Another important decision from Modern Pro Solutions was that of discontinuing in-house installations. The decision was made so as to have more flexibility in the markets which it services at this point in time. The in-house installation work would be sub-contracted by Modern Pro Solutions. This move would help the company in cutting costs significantly as it tries to boost profitability.
Additionally, this would ensure that the company no longer needs to spend on gas, trucks, licenses, insurance, equipment costs and warehouses among others.