- The company anticipates continuation of Direct Solar’s success, projecting $5 million in contracts by the end of 2019
- Direct Solar has added a new arm, Direct Solar Capital, in an effort to reach untapped markets
- SinglePoint’s CEO projects that the company will reach $15 million in sales by next year
SinglePoint Inc. (OTCQB: SING) CEO Greg Lambrecht joined Donald Baillargeon on MoneyTV (http://ibn.fm/j57j0) to continue an interview regarding the company’s recent acquisition of Direct Solar. During its first 30 days with SING, Direct Solar brought in $1.7 million in contracts; that same showing was repeated during the next 30 days. SING and Direct Solar anticipate a continuation of this performance, which equates to a path to $5 million by year end.
This acquisition has broadened and changed the company. “It has changed how we are thinking of some of the other projects that we are trying to incubate,” Lambrecht noted in the interview. “Some of them we’ve just sat down with the chalkboard and said, quite frankly, let’s focus more on solar – and CBD, for that matter. Because both of the projects and businesses are going extremely well.”
Currently, Direct Sales’ numbers represent only residential contracts; however, that is about to change. To serve medium commercial outfits, Direct Solar has added a new arm, Direct Solar Capital, as an alternative-energy financing solution (http://ibn.fm/1kgcl). Businesses that have an alternative energy project ready to go will now have access to anywhere from $50,000 to $3 million in funding.
From day one, Direct Solar Capital was built on a solid foundation, making it ready to begin processing applications immediately. “Even though it has only been a couple days since our last announcement, we have already started to receive a great deal of interest in our ability to finance projects,” Allen Kruse, marketing director for Direct Solar of America, stated in a news release (http://ibn.fm/6ABRf).
Commercial contracts that provide economic benefit to both customer and contractors are providing a new revenue stream for Direct Solar. This is a relatively untapped market. Prior to this agreement, midsize businesses had limited viable access to solar energy due to limited funding options. The solar brokerage model is proving to be a highly valued commodity within the market.
Commercial solar applications and renewable-energy financing solutions are inspiring SING to look creatively toward the future as the company seeks out additional innovative marketing strategies without sacrificing the its core offerings. SING and Direct Solar are working on an application that streamlines the purchase of solar even further by providing online access to quotes, solar shopping and scheduling of onsite visits.
The success of Direct Solar is creating a solid financial base for SING as it continues to expand and seek out additional acquisitions. “The traction we have experienced so far has been amazing,” Direct Solar Founder Pablo Diaz stated in a news release (http://ibn.fm/gtfV2). “We are thrilled for the achievements we have accomplished and are looking forward to continually improving. We are now exploring ways to generate additional sales through innovative marketing strategies. I’m confident we will hit $15 million in 2020.”
Singlepoint acquires small to mid-sized businesses. The company’s focus is on new technologies. Investments in renewable energy, legal ancillary cannabis and hemp are only a few examples of the multiple industries and verticals included in SinglePoint’s diversified portfolio. By investing in undervalued subsidiaries, the company has grown from a full-service mobile technology provider to a recognizable brand with multiple revenue streams. The company is currently seeing exponential growth due to its involvement in alternative energy.
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://ibn.fm/SING