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Sunday, May 02, 2010

Solar Stocks; Acro Energy (TSX Venture: ART) Announces Filing of Annual Financial Statements, MD&A & AIF and Change in Reporting Currency

Solar Stocks; Acro Energy (TSX Venture: ART) Announces Filing of Annual Financial Statements, MD&A & AIF and Change in Reporting Currency


HOUSTON--(http://www.investorideas.com/ clean energy blog )--Acro Energy Technologies Corp. (TSX Venture: ART), a leading US solar integrator, announces the filing of its audited financial statements, management’s discussion and analysis (MD&A), and annual information form (AIF) for the year ended December 31, 2009.

“Although Acro Energy acquired and integrated three solar installation companies during 2009, we did not have a full year of operations for any of the three acquisitions which is reflected in the Company’s 2009 revenues of almost $6 million”

.Electronic copies of these documents are available on Acro Energy’s profile at SEDAR, www.sedar.com.



“Although Acro Energy acquired and integrated three solar installation companies during 2009, we did not have a full year of operations for any of the three acquisitions which is reflected in the Company’s 2009 revenues of almost $6 million,” said Harry Fleming, chief executive officer of Acro Energy. “As announced earlier this month, our gross revenue of approximately $3,700,000 for the three months ended March 31, 2010 and existing backlog of over $5,000,000 in residential solar energy system installations is the best demonstration of the Company’s outlook going forward.”



The Company previously announced the change of financial year end from November 30 to December 31 commencing December 31, 2009 which will be a 13 month year end.



The Company also announces that it has changed the reporting currency of its financial information from Canadian dollars to US dollars. The change is effective for the year ended December 31, 2009.



“All of our operations are conducted in the United States, so we feel this change in reporting currency will better reflect our business activities and improve financial statement users’ ability to compare our financial results,” said Marty Spake, chief financial officer of Acro Energy.



About Acro Energy
Acro Energy Technologies Corp. is focused on the consolidation and growth of renewable energy companies, primarily in the United States residential solar energy installation market. Acro Energy provides practical solutions to individuals, businesses, non-profit organizations, and governmental entities that can benefit from the value of solar power. As a high end system integrator, Acro Energy offers quality products from leading solar module manufacturers including SunPower, Suntech, and Sharp and residential solar financing plans from SunRun, the nation’s leading provider of home solar financing. Acro Energy continues to evaluate acquisition candidates across North America.



For more information, please visit www.acroenergy.com or email info@acroenergy.com.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.



This news release may contain “forward-looking statements” within the meaning of applicable securities laws. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. The Company assumes no obligation for the accuracy or completeness of those forward looking statements and undertakes no obligation to revise these forward looking statements to reflect subsequent events or circumstances. Readers are cautioned not to place undue reliance on the forward-looking statements made in this Press Release.

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