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#Cannabis/#Solar #Stock News: SinglePoint (OTCQB: $SING) Recaps 2019 Plans for Successful 2020 After Largest Third Quarter in Company History Surpassing $1,000,000 in Revenue
#Cannabis/#Solar #Stock
News: SinglePoint (OTCQB: $SING) Recaps 2019 Plans for Successful 2020 After
Largest Third Quarter in Company History Surpassing $1,000,000 in Revenue
PHOENIX - November 26, 2019 (Investorideas.com
Newswire) SinglePoint Inc. (OTCQB:SING), recaps 2019 and looks ahead to 2020. As the company comes off its
largest 3rd quarter in history, exceeding $1,000,000 in revenue for the
quarter. The company continues to see expanded growth in two major markets,
Hemp and Solar. Throughout Q4 and into 2020 SinglePoint will focus on growing
these two market segments as demand increases for both. SinglePoint recently
launched 1606 hemp which will have its major debut at the December 11-13, 2019
MJBIZCON where thousands will converge at the Las Vegas Convention Center to
see the latest products in the industry. SinglePoint expects the sale of 1606
to be a large contributor in 2020 to overall company growth.
1606 Original Hemp Pre-Rolled Hemp
"We are excited for the launch of our 1606
Original Pre-rolled Hemp. We believe we can quickly scale the sales of this
product via ecommerce and retail buyers. The Hemp Pre-rolls have a major profit
margin which will support continued organic growth," states Wil Ralston,
President SinglePoint.
1606 Original Hemp cigarettes are nicotine and tobacco free. Some research suggests
that smoking hemp cigarettes could be a potential tool to replace tobacco and
nicotine addictions. According to a Brightfield Group survey of more than 5,000
CBD users in the U.S.:
·
24% have used it to help quit smoking.
·
Quitters are often replacing cigarettes with either
smokable hemp or vaping.
·
41% of quitters have entirely replaced traditional
smoking with hemp CBD.
According to a June 2019 market research report
published by MarketsandMarkets™, the industrial hemp market is projected to
grow from $4.6 billion in 2019 to $26.6 billion by 2025, recording a compound
annual growth rate of 34.0% during the forecast period. The cannabidiol (CBD)
market is on track to grow to $23.7 billion through 2023, according to
Brightfield Group. The firm also estimated the smokable hemp market to be
valued at $11.5 million in 2018, a growth of 250% from 2017.
"We have an exceptional strategic plan in
making SinglePoint one of the biggest publicly traded companies in the Smokable
hemp space. We believe we offer investors and our current shareholders
tremendous value given our leadership position in several explosive markets
including ecommerce, Hemp and Solar. As SinglePoint continues to grow revenue
and profit we continue to strive for meeting the qualifications to apply for a
listed exchange," states Greg Lambrecht, CEO SinglePoint.
SinglePoint predicts growth in its markets will
continue. Support for legalization passed Wednesday when lawmakers in the House
Judiciary Committee approved a Bill that stands to decriminalize marijuana at
the federal level. The Marijuana Opportunity Reinvestment and Expungement Act
of 2019 (the "MORE Act") passed by a wide margin with bipartisan
support. This bill will now head to Senate; this is just the first of many
steps but as support continues SinglePoint believes it will only continue to
open up options for businesses to obtain legal payment processing accounts.
SinglePoint is currently growing its portfolio of accounts and as soon as the
company believes there is a viable, stable payments option it will be able to
onboard additional clients.
As SinglePoint's Hemp business continues to
blossom, Direct Solar of America drives additional expansion. Direct Solar, a
subsidiary of SinglePoint Inc. (OTCQB:SING), a leading residential and commercial solar brokerage, continues to
exceed revenue growth targets and has been pivotal to improving the Company's
financials.
Quarter Three 2019 Highlights of Direct Solar
include:
·
Contracts Originated $4,965,975 (installs set for
Q4 and Q1 2020)
·
Opened in three new states
·
Launched high school partnership program with 47
Texas based high schools
·
Signed MOU with SchollyMe to develop online and
mobile solar purchasing ability
·
Launched Direct Solar Capital and Direct Solar
Commercial
Direct Solar of America is filling a gap in the
solar market by providing homeowners the knowledge and comfort throughout the
solar purchasing cycle. There are many complexities when it comes to the
purchases including tax credits, leasing vs. buying, installers among other
decisions to make. Direct Solar separates itself by becoming experts in the
intricacies of solar in each market. Direct Solar has surpassed over $900,000
in revenue in just six months of operations.
About SinglePoint, Inc.
Founded in 2011 SinglePoint, Inc (SING) invests in
and acquires brands and companies that will benefit from injection of growth
capital and the sales and marketing expertise of SinglePoint. The company
portfolio currently includes solar renewables, Hemp and distribution tobacco
products. SinglePoint is working to grow to a multi-national brand.
Connect on social media at:
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.
Corporate Communication
SinglePoint Inc.
855-711-2009
investors@SinglePoint.com
SinglePoint.com
SinglePoint Inc.
855-711-2009
investors@SinglePoint.com
SinglePoint.com
More info on SING at Investorideas.com Visit: https://www.investorideas.com/CO/SING/
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