NetworkNewsWire Releases Exclusive Audio Interview with SinglePoint, Inc. (SING)
February 14 2017 - 8:30AM
InvestorWire
New York, New York (NetworkNewsWire) – NetworkNewsWire ("NNW"),
a multifaceted financial news and publishing company that delivers
a new generation of social communication solutions for business,
today announces the online availability of its interview with
SinglePoint, Inc. (OTC PINK: SING), a full-service mobile
technology and marketing provider.
The interview can be heard at http://NNW.fm/SING-interview-Feb-2017
After introducing SinglePoint's mobile payments operations, CEO
Greg Lambrecht briefly discusses his professional background and
explains how the company's SingleSeed Payments subsidiary got
started in the cannabis industry.
"Two years ago we were using our merchant processing ability,
and we were placing terminals in dispensaries in Washington and
Oregon and Colorado. The banks shut that down, and with the recent
elections in November...that business is expected to grow from $5
billion to $50 billion to quite possibly $100 billion," he
says.
Following the November 2016 election, a total of 28 states
currently allow medical marijuana use, and eight of them also
permit recreational adult use. Subsequently, industry advocates are
anticipating that banks will soon offer cannabis businesses access
to banking services.
"We are very excited about the banks opening up and allowing
these dispensaries to have bank accounts. At that point, we have a
competitive advantage to be the merchant processor in all these
distributions," says Lambrecht.
In the meantime, SinglePoint is executing its three-pronged
growth strategy for 2017. In accordance with its plan, the company
has eliminated its debt and is now focused on leveraging its stock
performance to acquire companies and raise capital.
"We wanted to pay off all our debt, which we have done. The
second thing is we want to use the power of our stock and our
volume and our price increase to acquire companies. We are in the
process of either an LOI or term sheet with three companies right
now. The final thing is we want to use the stability of the stock
to raise money, and we are currently raising money - and doing
quite well at it - which is going to help with the acquisitions.
Those three things are what we are focused on," explains
Lambrecht.
As a testament to this strategy, SinglePoint recently acquired a
stake in Convectium (http://nnw.fm/6aLLD), a profitable California-based
provider of equipment, branding, and packaging solutions for the
cannabis industry.
"Convectium … [has] come up with a machine that loads the vials
for the vape pipes and other things. Previously this was all done
by hand. They have developed a machine in China that loads 100 at a
time. They are selling these machines to growers and
dispensaries...we're very excited about the opportunity and
acquisition of them," concludes Lambrecht.
About SinglePoint, Inc.
SinglePoint, Inc. is a full-service mobile technology and
marketing provider. We provide solutions that allow our clients to
conduct business transactions, accept donations, and engage in
targeted communication through mobile devices. Our products connect
small to mid-size companies to their target markets by providing
innovative mobile technology at reasonable rates. SinglePoint
recognized the strength in acquiring interest in undervalued
subsidiaries in other markets to create a diversified holding
base.
Connect on social media at: www.facebook.com/SinglePointMobile, www.linkedin.com/company/SinglePoint and www.youtube.com/user/SinglePointMobile
For more information visit www.SinglePoint.com.
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Source:
NetworkNewsWire
Contact:
NetworkNewsWire (NNW)
New York, New York
www.NetworkNewsWire.com
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Editor@NetworkNewsWire.com
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