XsunX Ends 2013 with Sales Agreements, Cash Deposit, and System Lender Purchase
Order
Company Sets 2014 Goal to Grow System Sales and Installations
to 1MW per Month
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Aliso Viejo, CA - January 7, 2014 - XsunX, Inc. (OTCQB: XSNX), a renewable energy
technology, systems, and services company, today provided business development updates
to its solar power project development and installation services, and its outlook
for growth through these services in 2014.
In mid-October we announced our business expansion to include the sales, design,
and installation of solar PV systems to commercial facilities located in California
- statistically the largest and fastest growing solar market in the country.
Since then we have provided several progress updates including announcing our initial
sales agreements for solar PV system installations. Now we can announce that before
the calendar year ended, we also received payment for PV project related invoicing
we sent out, and one project lender issued their purchase order to us for another
PV system under contract.
The overall process from start to completion and final payment can vary, but in
general we believe that most commercial projects will take between 4 to 6 weeks
to complete at which point we would typically book the revenue. Planning, permitting,
and getting the local utility to complete their work is where the majority of time
required can come into play.
While announcing sales agreements and receipt of contract payments is great news
for long time shareholders, the real exciting news for us is that our marketing
efforts are producing results. Despite the holidays we saw business and commercial
property owners from Ventura to Los Angeles, and Riverside calling us for quotes.
Yesterday alone we had 5 quote requests and one on-site customer visit.
Now that we have had some time to sense the level of response from our target customer
group, our goal in 2014 is to grow our commercial and industrial PV systems design
and installation business to at least 1 MW of new system sales per month.
If you wonder how many system sales equate to 1 MW, what we are finding is that
many commercial projects will require 100kW or more in PV system sizing. So, in
general it would take about 10 system sales per month to meet our goal - a goal
we are focused at achieving.
We are now gearing up to meet the demand and we will be looking to expand our sales
response capabilities to maintain a focus on providing the most responsive services
to people we plan to make our future customers.
About XsunX
XsunX focuses on providing solar energy solutions that provide the greatest bottom-line
financial benefits to businesses. The Company's background and experience spans
virtually all aspects of solar including technology assessment, design, and development.
We have a deep passion for solar and have worked to pioneer new technologies and
solar business solutions focused at making solar an affordable energy option. For
more information, please visit the Company's website at www.xsunx.com [http://r20.rs6.net/...5A4if6-e2yTFTpOdH1aKv3XLy50VmYaD2FQ7p3MFngg==],
or to learn more about the benefits of solar energy for your business schedule a
free PV project assessment [http://r20.rs6.net/...5A4if6-e2yTFTpOdH1aKv3XLy50VmYaD2FQ7p3MFngg==].
Company Contact:
Tom Djokovich, CEO
888-797-4527
Info@XsunX.com [mailto:Info@XsunX.com]
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Safe Harbor Statement
Matters discussed in this release contain forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995. All statements
other than statements of historical facts included in this press release are forward-looking
statements. These statements relate to future events or to the Company's future
financial performance, and involve known and unknown risks, uncertainties and other
factors that may cause our actual results, levels of activity, performance or achievements
to be materially different from any future results, levels of activity, performance
or achievements expressed or implied by these forward-looking statements. Investors
should not place any undue reliance on forward-looking statements since they involve
known and unknown, uncertainties and other factors which are, in some cases, beyond
the Company's control which could, and likely will, materially affect actual results,
levels of activity, performance or achievements. Any forward-looking statement reflects
the Company's current views with respect to future events and is subject to these
and other risks, uncertainties and assumptions relating to operations, results of
operations, growth strategy and liquidity. Such risks, uncertainties and other factors,
which could impact the Company and the forward-looking statements contained herein,
are included in the Company's filings with the Securities and Exchange Commission.
The Company assumes no obligation to publicly update or revise these forward-looking
statements for any reason, or to update the reasons actual results could differ
materially from those anticipated in these forward-looking statements, even if new
information becomes available in the future.
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XsunX Inc. | T: (888) 797-4527 | 65 Enterprise | Aliso Viejo | CA | 92656 -----------
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