- SinglePoint is a holding company focused on diversification into horizontal markets
- The company’s recent acquisition, Direct Solar, has secured $1,457,891 in solar contracts since completion of the acquisition
- SinglePoint signed a master distribution and co-selling agreement with a national CBD supply chain manufacturer; the company recently entered a letter of intent to acquire ProActive Nutra
SinglePoint Inc. (OTCQB: SING) is a technology and investment vehicle that specializes in acquisitions of small- to mid-sized companies. The company’s emphasis is on acquiring companies that will immediately benefit from the injection of technology integration and growth capital. Headquartered in Phoenix, Arizona, SinglePoint looks for undervalued, cash-flow positive companies that have high potential and verified assets (http://cnw.fm/6fRy7).
Established in 2007, SinglePoint focuses on new technologies. This strategy provides investors with an opportunity to make investments across a broad array of assets. These include payment processing, cannabis and blockchain technologies and a crypto application co-created with AppSwarm (OTC: SWRM). Via acquisitions, SinglePoint is providing a rich, diversified holding base.
Recently, SinglePoint announced that it had secured $1,457,891 in solar-installation contracts since completion of its acquisition of Direct Solar, which is expected to result in approximately $694,075 in gross profit and $306,729 in net profit (http://cnw.fm/Vt8Gg). At present, Direct Solar is averaging 2.7 sales per day, with a rapid trend toward reaching three per day. Direct Solar is looking to expand into Missouri as federal and state rebates continue to increase. Most of the revenue driven by Direct Solar thus far is expected to be recorded on SinglePoint’s Q3 financial statements.
“We are very pleased with the performance of Direct Solar and their entire team,” SinglePoint President Wil Ralston stated in a news release. “Since closing the acquisition, they have really outperformed everyone’s initial expectation. The goal was $1,000,000 a month after 90 days, and it would appear we are going to hit that sooner than anticipated.”
SinglePoint also recently announced its entry into a wide-ranging supply chain and co-selling agreement with Nevada-based JMSJ Holdings. This agreement provides SinglePoint guaranteed access to $50 million of industrial hemp-derived CBD (cannabidiol) isolate monthly. SinglePoint will in turn sell CBD distillate, CBD isolate and hemp biomass to be used in the manufacturing of retail products to Fortune 500 and B2B (business-to-business) companies (http://cnw.fm/A9hV7).
Furthermore, SinglePoint recently announced a letter of intent to acquire ProActive Nutra. ProActive Nutra has been operating at a greater than 45 percent margin, and this acquisition will bring additional revenue to SinglePoint. ProActive Nutra is a GMP- and FDA-compliant CBD mushroom and herbal cleanser manufacturing business operating in a GMP-compliant facility (http://cnw.fm/t2JSj).
In addition, by way of its SingleSeed subsidiary, SinglePoint is providing products and services to the cannabis industry. SingleSeed is a destination point for cannabis dispensaries looking for merchant payment-processing solutions, as well as other business tools (http://cnw.fm/o7Cb5).
BI Intelligence forecasts the number of domestic in-store mobile payment users to increase at a 40 percent five-year CAGR, reaching 150 million by the end of 2020. This represents 56 percent of the consumer population (http://cnw.fm/sTQ8g). SinglePoint is well positioned to capitalize on this growth. Moreover, SinglePoint is developing a cryptocurrency solution for the cannabis industry – a vital element of its comprehensive solutions.
At the heart of its strategy, SinglePoint continues to concentrate on payment solutions. This focus includes capitalizing on emerging opportunities in the cannabis market. With its present plan to drive revenue growth through partnerships, equity-financed acquisitions and internal product development, SinglePoint offers investors varied corporate channels for portfolio growth.
For more information, visit the company’s website at www.SinglePoint.com
NOTE TO INVESTORS: The latest news and updates relating to SING are available in the company’s newsroom at http://cnw.fm/SING
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