Real Estate company Tiderock Companies Inc (OTC:TDRK) announced the firm entering into a Memorandum of Understanding for forming a joint venture with a regional solar company. The initial goal is to open Sales Centers Nationwide for facilitating a multi-state expansion program.
Several growth potential opportunities benefiting from Tiderock management’s experience in the property sector have been identified for establishing a complete solar company. The partnership’s goal is to harness Tiderock’s geographically diverse industry connections for expanding the solar firm’s operations from just three states.
Tiderock CEO Thomas Fore expressed excitement about the new strategic direction for the firm. Fore added that businesses and homeowners are seeking opportunities to save money, especially due to surging energy costs as well as frequent grid disruptions. The CEO added that the strategic partnership would provide
Tiderock instant revenue recognition and give the solar company access to reputed management having expertise in scaling infrastructure companies.
Tiderock Companies Inc is exploring opportunities in the Green Energy and Solar Industry which can be harnessed for real estate development. The firm is working to identify concepts, companies as well as strategic partnerships in Green Energy industries, which would create value for shareholders.
Aggressive inflation and surging interest rates have made 2022 a challenging year for firms within the commercial real estate sector. Tiderock has removed some projects that are not economically viable. Homeowners are looking for ways to save, especially due to surging energy costs.
Inflation Reduction Act of 2022 has a number of incentives for homeowners giving about 30% income tax credits on buying solar and related equipment. Tiderock is looking for ways to spur the deployment of these technologies. The company will assess real estate opportunities, especially projects having capitalization rates meeting the parameters. It will include single-family, multi-family, and commercial real estate investments.
Tiderock Companies Inc announced that the firm entered into an engagement agreement with M&K CPAS PLLC for becoming its audit firm. The firm has been an alternative reporting firm with OTC Markets and engaged M&K CPAS to perform a two-year audit for periods ending December 31, 2021 and 2022.
Tiderock CEO Thomas Fore said that the transforming economic client is giving a number of opportunities for the firm. He added that the Board feels it is necessary for Tiderock to be a complete reporting company with the Securities and Exchange Commission. This will facilitate the company to harness the opportunities.
Tiderock focuses on high-value “develop to own” projects and offers Real Estate Advisory Services. Headquartered in Baltimore, MD, Tiderock is focusing on high-value “develop to own” projects through its subsidiary, Sora Ventures. The firm also gives Real Estate Advisory Services through its subsidiary, Tiderock Development.