SinglePoint CEO Shares Exciting 2020 Vision
January 07 2020 - 9:07AM
InvestorsHub NewsWire
SinglePoint CEO Shares Exciting 2020 Vision
SinglePoint Inc.
(OTCQB: SING) shares a recap of 2019 and direction for
2020
Phoenix, AZ -- January 7, 2020 -- InvestorsHub
NewsWire --
To our
shareholders:
I personally want to
thank all of our 24,000+ shareholders for their continuing support
of SinglePoint. This year management has set an internal goal to
surpass $10,000,000 in gross revenues, primarily by the Company’s
subsidiary SinglePoint Direct Solar LLC (“Direct Solar” doing
business as Direct Solar of America). 2019 was a great year for
SinglePoint in terms of continued fundamental improvement, setting
the foundation for anticipated continued growth in 2020 and beyond.
The Company achieved some significant milestones this year; it
became fully reporting with the Securities and Exchange Commission,
increased annual revenue, and acquired a Fifty One Percent interest
in Direct Solar. We will continue to focus on creating shareholder
value utilizing an acquisition strategy looking for emerging growth
companies that would benefit from exposure and access to capital
that a public company can
provide.
Direct Solar now has
over 60 people deployed across 11 states and 20 cities. In the 3rd
and 4th quarters of 2019 we launched a national proprietary brand.
1606 Original Hemp capitalizes on the emerging trend in the
smokable hemp market and has already been picked up by distributors
and retail outlets. We also continue to expand our merchant service
portfolio.
From 2017 to 2018 our
gross revenue increased over 344% and is expected to increase to
approximately $3,000,000 (Three Million) in 2019 representing our
largest annual reported revenue in company history. In 2020 we
expect this revenue increase to continue as SinglePoint will
benefit from a full operating year of Direct
Solar.
My belief in
SinglePoint is more concrete than ever. As the CEO and a large
shareholder, I have personally invested capital into the company to
expand our growth and operations. SinglePoint has made tremendous
strides in sales revenue and account acquisition which gives me a
high level of confidence and excitement for the
future.
In 2020 management is
optimistic that the establishment of solid fundamentals and the
continued growth of the Company provides the opportunity to drive
the Company’s market cap and overall shareholder to exceed
historical levels. Over the past three years the volume weighted
average price has been approximately $0.05 and our historical
average daily volume has provided significant liquidity for our
shareholders.(1)
The 2020 domestic Solar
Market is showing continued signs of riding a new tailwind driven
by talks of a New Green Deal. We anticipate that renewables will
continue to be an important issue around the country, and plan
to focus the majority of our attention on growth in the solar and
renewables space. National media attention on the renewable energy
opportunities should provide increased exposure which we believe
will help drive the business, and revenue of Direct Solar, and
hopefully increase our market cap and shareholder value. We are not
alone in our belief in the emerging renewable energy market;
recently Goldman Sachs has announced a $4,000,000,000 fund for
renewable energy.
Vision for
2020
We plan to drive our
2020 vision through organic growth in high value, high opportunity
markets, scale and grow revenue through synergistic acquisitions,
and to invest in and develop exceptional talent within our
organization and our subsidiaries. In mid 2019 we acquired Direct
Solar which has grown at a greater rate than anticipated, and has
developed a scalable business model that is attracting talented
industry business professionals to help accelerate its rapid
national footprint expansion. In just a few months since May 2019
Direct Solar has expanded into multiple states including Arizona,
Texas, New Mexico, Illinois, Florida, Missouri, and South
Carolina.
Direct Solar operates
under a unique national solar energy brokerage model. It
helps identify and provide contractors for the installation of the
best available solar energy system for any residential or
commercial location. This model benefits our customers by making
sure they see increased benefits and complete satisfaction, while
we make sure they realize the most optimal cost savings. With
various financing options, multiple choices for Solar Power
technology, and 100’s of contractors to choose from, our customers
value our extensive experience in creating customized solutions
that meet their needs. We are changing the way people
currently purchase solar. Continuing to scale Direct Solar is a
strategic focus for 2020. We continue to explore additional markets
and assess market viability.
In addition to the
success of Direct Solar, our initial investment in Jacksam
Corporation also proved to be fortuitous. Jacksam Corporation
continued to grow within its market and eventually went public at
an initial valuation which was higher than our initial investment.
Additionally, our acquisition of Discount Indoor Garden
Supplies, Inc. (“DIGS”) is beginning to produce positive results.
DIGS is an established business providing white label and
fulfillment services for the hemp and CBD industry. DIGS is
self-sustaining and continues to organically grow providing the
company with additional revenue each year. Our early success with
DIGS led us to reinvent SingleSeed which now provides CBD products
direct to consumers at SingleSeed.com. Our exposure to the consumer CBD market allows us
to identify early consumer product trends and opportunities, which
we are uniquely positioned to take advantage of given our
historical expertise. In late 2019 we developed and launched a
proprietary brand of hemp products called “1606 Original Hemp”
and 1606hemp.com. We are encouraged by the reception and demand
this new product category received at the 2019 National Association
of Convenience Store Show (“NACS”). Our success at NACS with the
smokable hemp product allowed SinglePoint to secure a distribution
agreement to distribute PrimeTime Flavored Cigars with Japan
Tobacco USA, a division of Japan Tobacco International which
operates in over 130 countries. I have a long history in the
Consumer Product space and was a part of the initial launch of the
PrimeTime product, placing it in over 25,000 accounts, in
conjunction with my involvement at Premium Cigars International in
which I was a principal founder prior to its Initial Public
Offering on NASDAQ.
In closing, I believe
best of SinglePoint is yet to come. I believe we are currently
undervalued compared to our historical valuation range over the
past three years, but our continued focus on the fundamentals of
acquiring great businesses in emerging markets is starting to show
results that should increase our shareholder value. I started
SinglePoint over 13 years ago as LifeStyle Wireless. I have been
the CEO of this public entity since 2011, working every day to
increase shareholder value. Through revenue and profit we expect
our share price to follow suit. I believe our acquisitions have the
ability to create sustainable revenue growth and profitability. I
am committed to continuing to improve the Company’s profile as
evidenced by SinglePoint achieving fully reporting status with the
SEC and listing to the OTCQB. There is more work to do and
SinglePoint is up to the challenge. I am looking forward to more
positive results this year and appreciate the continued support of
our shareholders.
-Go
SING!
Sincerely
Greg
Lambrecht
Founder and Chief
Executive Officer
SinglePoint,
Inc.
1. Data from
- https://ih.advfn.com/stock-market/USOTC/singlepoint-inc-qb-SING/historical
About
SinglePoint, Inc.
SinglePoint, Inc (SING) invests in and acquires brands and
companies that will benefit from an injection of growth capital and
the sales and marketing expertise of SinglePoint. The Company's
portfolio currently includes solar, Hemp and distribution tobacco
products. SinglePoint is working to grow the company to a
multinational brand.
About Direct
Solar of America
Direct Solar of America is a subsidiary of SinglePoint Inc. (OTCQB:
SING). Direct Solar of America, a solar energy brokerage, helps
find and install the best available solar energy system for any
building, residential or
commercial.
About
DIGS
DIGS
operates Private Label Hemp Co which is a seed to sale full-service private
label manufacturer of industrial hemp CBD products with over 10
years industry experience. All of our products are of the
highest quality and include third party accredited lab Certificates
of Analysis (CoA’s) demonstrating purity and
potency.
About
SingleSeed
SingleSeed is an ecommerce platform distributing
multiple brands of hemp CBD products. We strive for quality in the
products we produce and carry. SingleSeed offers the highest
quality USA grown Hemp based CBD Products. We pride ourselves on
providing premium products and customer service to ensure the best
experience possible. SingleSeed offers a variety of CBD products
from tinctures to capsules. Quality CBD you can
Trust.
Connect on
social media at:
https://www.facebook.com/SinglePointMobile
https://twitter.com/_SinglePoint
https://www.linkedin.com/company/singlepoint
For more information
visit: www.SinglePoint.com
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 revenues, growth,
acquisitions, financial projections, 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.
Corporate
Communication
SinglePoint
Inc.
855-711-2009
investors@SinglePoint.com
SinglePoint.com
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