Before the opening bell, Singlepoint, Inc. (OTC: SING) was announced as a featured company on this week’s episode of MoneyTV with Donald Baillargeon. MoneyTV is an internationally syndicated television program about “money and what makes it happen.” The show includes informative interviews with company CEOs, offering prospective investors insight into their operations and outlooks for the future.
To view this week’s program, visit www.MoneyTV.net
In the interview, Greg Lambrecht, chief executive officer of Singlepoint, offered prospective investors an update on the progress of the company’s SingleSeed subsidiary, which it awakened from a quiet period in early November in an effort to capitalize on the emergence of the multi-billion dollar cannabis industry. Despite the hesitance of financial institutions to work with legal cannabis companies across the country, recent election results and a nationwide shift in attitudes toward marijuana legalization has dispensaries and other businesses optimistic about the possibility of electronic payment acceptance in the near future.
“We have been inundated with calls from dispensaries that have seen our different press releases and announcements that we’re getting back into merchant processing for the cannabis business,” Lambrecht stated in the interview. “We’ve had a lot of demand. Of course, we’ve had to tell them that we’re taking their name and number and email and putting them on the list. We’re very excited about demand.”
While politicians continue to grapple over a solution to the marijuana banking conundrum, Singlepoint is taking proactive steps to better capitalize on its first-mover advantage in the space. The company is currently offering marketing services to businesses operating in the cannabis industry, which allows Singlepoint to both commercialize its existing text message marketing solutions and expand its reach in the burgeoning space ahead of an anticipated policy shift.
“One of the things that we’re actively doing to get ahead of the curve here is we’re totally revamping our SingleSeed website, which is for the cannabis business, and really activating it,” continued Lambrecht. “We’re going to allow these dispensaries to use our text message marketing program, which is legal, and they can get started on now to communicate with their members. They’ll be able to go to the site to sign up, not only for that, but also to get a terminal in the future.”
Lambrecht concluded the interview by looking forward to 2017. Referencing the policy of President-elect Donald Trump regarding the rights of individual states to decide on marijuana legalization, Lambrecht and host Donald Baillargeon agreed that the time for a long-term solution to the cannabis industry’s banking woes is fast approaching, potentially occurring as soon as the first quarter of next year. With this forecast in mind, Lambrecht spoke to the strategic positioning of Singlepoint as a leading payment processing option for cannabis dispensaries and other businesses operating in the industry.
“We have an extreme first-mover advantage over other companies to be the one to handle their merchant processing,” he concluded.
For more information, visit the company’s website at www.Singlepoint.com
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