- SinglePoint focuses on acquiring firms that are primed to benefit from injections of growth capital
- The company recently reported a doubling of Q2 revenues over the same period of the prior year
- SinglePoint’s growth strategy involves astute acquisitions in varied market sectors
SinglePoint Inc. (OTCQB: SING), a company specializing in acquisitions of small to mid-sized companies, recently announced that its second quarter 2019 saw incredible revenue earnings of more than double those of the same quarter of last year. Embracing new technologies, the company’s emphasis is on the cannabis industry, as well as bitcoin and blockchain technologies. The company researches opportunities where it can be an active participant through influencing the strategy and direction of high-potential firms whose verified assets offer appealing possibilities for shareholders. Fundamentally a technology and investment company while also focusing on diversification into horizontal markets, SinglePoint is headquartered in Phoenix, Arizona.
SinglePoint also concentrates on acquiring businesses that will benefit from the injection of growth capital and technology integration. The company built its portfolio by acquiring an interest in undervalued companies and working with key company management to grow successful candidate enterprises. SING has developed and released applications chiefly in the mobile payments market.
Recently, SinglePoint filed Form 10-Q for the quarterly period ended June 30, 2019. The company more than doubled its revenue from the same period the year prior; revenue increased from $311,237 in 2018 to $856,859 in 2019 (http://ibn.fm/xZUck).
“We are very excited about the growth and path we are on,” SinglePoint President Wil Ralston stated in a news release. “This is another step in the right direction for SinglePoint. We look forward to showing an even larger increase in Q3 as we will have the addition of Direct Solar projects that have closed and been funded. Everyone in the company has done a wonderful job, and it’s showing in the growth of revenue and number of opportunities being presented.”
SinglePoint has acquired a majority interest in some businesses and invested in others for equity. On May 14, 2019, it acquired a 51 percent interest in the above-mentioned Direct Solar LLC. Direct Solar provides commercial solar applications and renewable-energy financing options, and it signed contracts to deploy $3,419,312 in solar installations in its first two months following the deal, outpacing both parties’ projections. Direct Solar is currently operational in eight states and continues to expand its residential solar presence (http://ibn.fm/8gJ52).
Aside from revenue powerhouse Direct Solar, SinglePoint also has its hemp-derived CBD (cannabidiol) offering, SingleSeed, with its consumer-facing CBD brand. Launched in March 2018, SingleSeed is an online business providing hemp-based products to consumers. SingleSeed’s commitment is also to providing services to the underserved cannabis and hemp-based market (http://ibn.fm/0Adqy). SingleSeed offers payment processing and text message marketing solutions expressly for cannabis businesses (http://ibn.fm/VVvE0).
SinglePoint also has a joint venture (JV) agreement with AppSwarm (OTC: SWRM). The focus of this JV is to begin development on a proprietary delivery application. This application will enable licensed cannabis delivery services and dispensaries to safely make in-home cannabis deliveries.
With its acquisition-based strategy, SinglePoint is working on building a diverse holding base for multiple revenue streams. The company offers investors the opportunity to make investments across a wide range of assets.
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