- SinglePoint is building a cannabis-friendly portfolio through ancillary asset acquisitions fueled by an LOI to inject $12 million in capital
- The company’s acquisition agreement with brokerage Direct Solar and customer lead generator AI Live Transfers leads the way for solar power boost to portfolio
- A new interview with SinglePoint and Direct Solar highlights the companies’ enthusiasm for the potential of completing the agreement by April 15
Technology-building firm SinglePoint Inc. (OTCQB: SING) is advancing its commitment to the environment and its investment in the cannabis industry through the acquisition of two companies that have successfully applied the Lending Tree model to the solar power products and services industries. A new interview featuring SinglePoint President Wil Ralston and Direct Solar Founder Pablo Diaz highlights the companies’ expectations for the acquisition agreement involving Direct Solar and affiliate AI Live Transfers, which is scheduled to close by April 15.
“There’s only a few ways to affect climate change, and lower the carbon footprint is it,” Diaz told Ralston in the video interview (http://ibn.fm/Ji85d). “One thing that we think is going to be a great union with SinglePoint is your access to the cannabis industry. One of the highest expenses that the cannabis industry experiences is the electricity costs. Solar is a fabulous solution to high energy costs. You want to increase margins? Great place right there… It’s an untapped market. It’s ready for maturity.”
Diaz explained how he built a side interest in solar power during a commercial real estate project that contracted for solar product installation and, ultimately, brokered for solar contractors under the Direct Solar name.
“A contractor is limited in the lending options they can give to their customer base… (And) every contractor isn’t built the same from a construction knowledge perspective,” Diaz said, noting that solar energy regulation is built on a regional utility basis that can vary from place to place.
“With the knowledge that we gained as a contractor, we built the infrastructure to be able to work with multiple contractors (nationwide)… They love us because we bring them free business,” he said. “Homeowners love (our model) because we’re a free resource to them… We’re finding solutions for the homeowner, bringing them their best options and making it efficient as a process for them and the contractor also.”
The Lending Tree model refers to strategies that connect people seeking loans to a variety of loan providers nationwide so they can shop for a service that most closely suits their needs. Diaz said that the maturing solar industry is driving many growing contractors to outsource the work involved in customer acquisition because “their time spent on that is not really translating for them in higher margins.”
Direct Solar’s revenues have increased exponentially, exceeding $1.5 million during the past year, and Diaz said that the company expects to have top $350,000 for the month of February alone.
A company press release about the acquisition agreement noted that the companies expect revenues to increase dramatically during the year following closure of the acquisition and profit margins to rise significantly, which will help bolster the company’s growth. (http://ibn.fm/jJo8D). Included in the projections is a plan to draw on AI Live Transfers’ artificial intelligence platform to seek out potential customers using a progressive technological strategy that maximizes closing agents’ time (http://ibn.fm/hmMmM), a developing lead-generation project Diaz and Ralston alluded to at the end of their interview.
SinglePoint has been highly focused on the hemp market through subsidiary SingleSeed.com and is establishing a place in the CBD market supply chain as legalization in the United States opens the door to new opportunities. SinglePoint CEO Greg Lambrecht told MoneyTV recently that the company has signed a letter of intent to raise up to $12 million to help the company fund its M&A activity in the CBD space (http://ibn.fm/KuZvU).
Analysts at the Brightfield Group forecast a $22 billion market for hemp-derived CBD by 2022 (http://ibn.fm/uTSKD).
For more information, visit the company’s website at www.SinglePoint.com