Special edition of InvestorIdeas Cannabis Potcast with SinglePoint Inc. (OTCQB: $SING); Solar and Cannabis Combine for a Bright Future
From Cannabis to Solar, Crypto or Psilocybins -SinglePoint Inc. is on the Cutting Edge
Point Roberts, WA and Kelowna, BC - May 22, 2019 (Investorideas.com Newswire) Investorideas.com , a global news source covering leading sectors including cannabis and solar stocks and its potcast site, www.potcasts.ca release a special edition of Investorideas.com potcastsCM - cannabis news and stocks to watch.
Listen to the podcast featuring an interview with Will Ralston, President of SinglePoint Inc. (OTCQB: SING):
Investor Ideas Potcasts Talks to Will Ralston, President of SinglePoint Inc. (OTCQB: $SING) about Solar Acquisition and their Cross Pollination Business Strategy
Today's podcast overview/transcript:
Ralston discusses SinglePoint's latest acquisition of Direct Solar, their largest deal to date as well as the company's expectations for 2019.
Direct Solar operates on a Lendingtree/Rocket Mortgage model in which the company provides homeowners options for installers that service their area and the loan programs they have access to. This allows the company to expand throughout the US and globally. With the backing of SinglePoint, Direct Solar will have the ability to quickly scale into new markets and establish the company's foothold in the Solar market.
Video Introducing Direct Solar - https://www.youtube.com/watch?v=jl0u8eZpUrI&t=1s
"This acquisition will securely place SinglePoint on a new path towards growth, revenue and overall profitability. We believe Direct Solar has the people and the ability to scale beyond initial projections and truly make an impact on SinglePoint's goal of getting a NASDAQ or NYSE. We believe in the following 12 months from the date of the acquisition, revenues will be in the multiple millions along with profitability. This acquisition is a new opportunity and puts SinglePoint on a whole new trajectory path," states Greg Lambrecht, CEO of SinglePoint in their recent press release discussing the acquisition.
Mr. Ralston mirrored this sentiment when discussing Direct Solar, with high expectations of growth and revenue for 2019.
"What's driving the growth of Direct Solar is there are so many customers looking to not only save on their energy and power costs, but also reduce the amount of energy they are using derived from fossil fuels and to have access to a more renewable energy source."
Speaking about their customers, when asked where Direct Solar intends to focus first, more in commercial or residential sectors, he sees a good blend of the two in their future.
"Residential is a big component. We (Solar companies) just passed the 2 millionth install residentially but we also see a massive potential in commercial systems as well. We've recently seen a lot of large companies like Amazon working with solar and some opportunities to establish micro-grids in small communities. We will be working with different cannabis cultivation. That's one of our reasons for buying this company. Because of the power intensiveness that it does take to grow cannabis currently, there is a massive opportunity to create efficiencies and save money on your energy costs when cultivating cannabis, hemp or any other indoor plants for that matter."
Regarding larger companies moving towards renewable energy, Facebook, General Motors and Walmart, along with over 300 other companies recently launched the Renewable Energy Buyers Alliance (REBA), the largest group of corporate renewable energy buyers in the United States, which will work to unlock the marketplace for organizations to buy renewable energy with more than 60 gigawatts of new renewables online in the United States by 2025.
Will explained in the interview that the "receptiveness (in the industry) is there, and we are seeing tremendous growth. As solar becomes more affordable and climate change and efficiency becomes more top of mind for people, we are seeing that tick up. We saw a little lull about 3 years ago, but about 2 years ago we saw the installations just start to go off the charts. Adoption is there, people are becoming more aware and it's affordable now."
Singlepoint has been at the cutting edge of emerging markets with SingleCoin (Cryptocurrency Payments), SingleSeed (Cannabis) and now Direct Solar (Solar) and when asked about the next emerging sector, Will expressed some interest in the latest psilocybin developments in Colorado earlier this month.
Over the past few years psilocybin research, much like DMT and pre-legalization cannabis has had a surge of returned research, specifically in dealing with psychosis and PTSD therapy.
Will went on to say, "I think that's the next big wave if looking at the cannabis side of things. We believe there is a heavy opportunity there for many companies and we hope that we can participate in that, probably through the purchase of some sort of manufacturing facility early on."
That may be a way off though as any serious form of legalization is still several years away, which allows SinglePoint to focus on the future with Direct Solar.
"Direct Solar has put us on the financial grounds that will provide the company with the revenues and EPS that is required of us to make a move to either the NASDAQ or the NYSE. We believe we can really push this company to the next level, which in return will push SinglePoint to the next level," Will continued.
Also read part one of this two part series discussing SING solar acquisition:
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