SinglePoint (OTC: $SING) Provides Shareholder Update on Acquisitions and Company Initiatives
SEATTLE, WA - July 18, 2017 (Investorideas.com Newswire) SinglePoint, Inc. (OTC:SING) provides shareholder update covering acquisition performance as well as progress on company initiatives.
Today the company has hired a cryptocurrency expert to spear head the companys initiatives to develop a payments solution for high-risk customers and the cannabis market. The company is aiming to bring a solution to test within 60 days. The companys joint venture with First Bitcoin Capital Corp will help drive this timeline and bring the solution full circle from customer to dispensary. SinglePoint and First Bitcoin Capital will work together to drive a consumer first approach. By enabling the consumer to acquire the currency first it will make for an easier transaction once at the point of sale. SinglePoint has also hired Turner, Stone and Company to finalize the companys 2016 financial audit to continue its progress toward up-listing to the OTC QB Markets.
To date, SinglePoint acquired an interest and invested in two different companies. DIGS Hyrdo and Convectium. Both companies supply products to the cannabis market. DIGS specializes in growing and cultivation consulting. Convectium provides a best in class oil filling machine, the Shark 710. Last year Convectium sold 45 machines and has already hit that number in 2017. Most recently the company hired Mark Adams a Boston Native and Harvard Graduate. Mark is an operations specialist with background in managing and developing complex growth strategies. SinglePoint executives believe this alone will drastically increase Convectiums already established momentum.
DIGS Hyrdo provides multiple products to growers and dispensaries. The company has two stores open in Southern California with plans for a third. DIGS is starting to develop a starter kit for home grow interests as well as engineer DIGS Hydro branded products which will lead to increased margins. The company has 4x revenue growth in just the first two quarters of operation. This acquisition and growth is key to SinglePoints acquisition strategy.
DIGS is a perfect example in what we want to happen in an acquisition. We acquired the company injected the needed growth capital and seeing the results come in through increased revenue. In the near future we will be kicking off an online marketing strategy to sell products nationwide through Digshydro.com. States, Greg Lambrecht CEO SinglePoint.
SinglePoint is currently looking at multiple different acquisition targets in the cannabis space. Specifically, a highly-regarded technology driven delivery company and another that is developing and providing solar solutions to commercial cannabis grow spaces.
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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