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SPi World News 01:27:21 GMT Friday 31st March 2017

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Solis Tek Inc. Announces Record Revenues for Year End 2016

Solis Tek, Inc. via Marketwire 00:57 GMT Friday 31st March 2017

CARSON, CA--(Marketwired - March 30, 2017) - Solis Tek Inc. (OTCQB: SLTK), a leading provider of digital lighting equipment for hydroponic cannabis cultivation, reported record revenues for the year ended December 31, 2016 of $8,563,751 compared to revenue of $7,713,456 in 2015. This represents an 11% increase in revenue over 2015. Gross profit for the years ended December 31, 2016 and 2015, was $3,123,859 and $2,719,036, respectively. The gross profit increase of $404,823 or 15% was primarily due to the increase in revenue. Business and Financial Highlights for 2016Newly appointed CEO and Board member Dennis G. Forchic (co)-founded five start-up entities over the last 25 years. His experience includes leading multiple early stage growth companies to top line revenues in the mid-to-upper eight figure range prior to exiting through successful sales transactions to the investment communities. One of the transactions, an east coast manufacturing company, had an annual ...

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