SinglePoint (OTC: $SING) Cannabis Industry Subsidiary Receives Initial Order and Payment Toward Significant Revenues
SEATTLE, WA - June 27, 2017 (Investorideas.com Newswire) SinglePoint, Inc. (OTC:SING) announces its recently acquired subsidiary DIGS Hydro has signed and received a major purchase order from Premier Biomedical (OTC: BIEI). The initial down payment has already been received and the final payment is due on delivery. It has been discussed and we expect that Premier Biomedical will continue to order their products and add additional products provided by DIGS Hydro which SinglePoint owns 90%.
SinglePoint CEO Greg Lambrecht states, "This opportunity for SinglePoint and DIGS is fantastic. We have been working very hard on making acquisitions and inside sales to boost revenues. To have this subsidiary execute on its business plan and generate major revenue for SinglePoint is exactly what we want to see. We are very excited about the second quarter financials and showing the significant revenue increase."
DIGS Hydro is SinglePoints most recent acquisition. The company provides supplies and services specifically to the cannabis industry. SinglePoints acquisition strategy to grow revenue is starting to take shape and the company expects to show significant revenue increase in quarter two financial statements. Through DIGS Hyrdo, SinglePoint has made many new contacts in the cannabis industry all of which are potential acquisition targets or customers for one of the many offerings SinglePoint has developed.
Premier Biomedical is a perfect match for DIGS Hydro and SinglePoint. Premier Biomedical offers a rounded suite of products, which DIGS can supply. The two companies will be able to grow quickly and efficiently together. DIGS now has two stores opened with plans to open a third. In the past two months, the new store in Vista, CA has held two events both have had high attendance and helped establish DIGS presence in the community and increase sales at both stores.
William Hartman CEO and Co-Founder or Premier Biomedical states, "We are excited we found a supplier for the products we need. This significantly increases the companies initiatives and enables us to grow the revenue of the offerings we have. We look forward to working with DIGS and SinglePoint to continue building our relationship together,"
In addition to this major order, word is quickly spreading about other services SinglePoint offers and the company is sending out multiple contracts and onboarding many new clients, continuing the increase of revenues for SinglePoint. The company has worked hard on developing viable solutions and potential clients are now starting to engage with the company.
SinglePoint has acquired multiple companies in the cannabis space and is continuing to look for additional companies. The recent capital raise will help significantly in this venture and many other projects such as its Bitcoin Payments development. This project has been green lighted and architecture for development has been completed. Announcements on timeline and delivery will be made soon. SinglePoint engaged a recruiting firm to help find a block chain expert and has already interviewed started negotiations with potential candidates. SinglePoint is making a major push to increase revenues in 2017 through acquisition and inside sales of the company services.
About SinglePoint, Inc.
SinglePoint, Inc. (SING) has grown from a full-service mobile technology provider to a publicly traded holding company. Through diversification into horizontal markets, SinglePoint is building its portfolio by acquiring an interest in undervalued subsidiaries, thereby providing a rich, diversified holding base. Through its subsidiary company SingleSeed the company is providing products and services to the cannabis industry.
Certain statements in this news release may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. All statements, other than statements of fact, included in this release, including, without limitation, statements regarding potential future plans and objectives of the Company, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Technical complications, which may arise, could prevent the prompt implementation of any strategically significant plan(s) outlined above. The Company undertakes no duty to revise or update any forward-looking statements to reflect events or circumstances after the date of this release.
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