SinglePoint Completes
Acquisition of Profitable Denver Colorado-Based
Company
Seattle, WA (October 17, 2017) SinglePoint Inc. (OTC:SING)
("the Company") today announces its acquisition of Denver-based
group, JAG, and offers an update on several corporate initiatives.
Through July 2017, JAG recorded $600,000 in revenue with
approximately 26% gross margins, following full-year 2016 revenue
of $700,000. JAG has achieved year-over-year growth since starting
its operations in 2014, and moving forward will provide SinglePoint
consistent, predictable monthly revenue. Per the agreement terms,
SinglePoint will acquire fifty-one percent (51%) of JAG in a
combination of cash and stock, which will allow the Company to
recognize all revenues.
"We are very excited for this opportunity as it dramatically
increases SinglePoint revenues and profitability. We look forward
to continuing investing in and growing SinglePoint's operations
while acquiring other companies to generate additional growth. With
this latest investment, we are properly capitalized, better than
ever before, and will aggressively push forward on both internal
and external growth opportunities," states SinglePoint CEO Greg
Lambrecht.
Execution of SinglePoint's acquisition-based growth strategy has
been a strong point for the Company, which has closed on all four
of its acquisitions year-to-date. This most recent acquisition of
JAG solidifies SinglePoint's fundamentals toward growing the
Company and acquiring or investing in larger targets with each
transaction.
While the Company continues to diversify its portfolio through
acquisition, SinglePoint also continues to develop its internal
mobile application. Last week the Company met with development
partners as it seeks to quickly finalize an agreement to launch an
application geared to servicing companies that offer last-mile
delivery 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. For more
information, visit www.SinglePoint.com or www.SingleSeed.com
Connect on social media:
www.facebook.com/SinglePointMobile
http://www.twitter.com/_SinglePoint_
www.linkedin.com/company/SinglePoint
www.youtube.com/user/SinglePointMobile
Forward-Looking Statements
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.
Contact:
SinglePoint, Inc.
Greg Lambrecht
602.481.1544