SinglePoint, Inc is a company that develops and sells mobile business platforms and related business technologies. Its primary products allow businesses to accept mobile payments, conduct text message marketing, and host mobile auctions. SinglePoint has also recently forayed into the medical marijuana sector by creating a subsidiary that offers these technology solutions specialized for cannabis businesses.
The trademarked mobile payment solution of SinglePoint is called the Pay by Text technology. This solution lets businesses provide their customers with a mobile app where they can view available items. Customers may then purchase items through a text message. SinglePoint charges its client businesses 5% per transaction completed with this technology.
For mobile auctions, SinglePoint provides the trademarked Text2Bid platform. With this platform, a company or organization can hold auctions allowing their customers to bid via their text- or web-enabled phones. The technology also provides bidders with notifications of bidding activity and related updates.
SinglePoint also offers the text message marketing solution called TextaDay, as well as technology solutions for cashless ATM terminals.
For its venture into the medical marijuana sector, SinglePoint formed the subsidiary SingleSeed Payments. It offers cannabis-specialized versions of the company’s main products. Solutions from SingleSeed Payments thus include cashless ATMs, text message marketing platforms, and mobile payment platforms all designed to be used by cannabis businesses. With these, SingleSeed is now deemed a leading business solutions provider in the marijuana industry.
SinglePoint, Inc was founded in 2006 under the name Lifestyle Wireless, Inc. It was also a mobile commerce technology company then. In 2011, it became Carbon Credits International, Inc, before changing to its current name in 2013.
Today, SinglePoint is traded as SING in the OTC markets, with a market value of USD 3.27 M. It has offices in Arizona and Washington State.
Leading the company is Founder, President, and CEO Greg Lambrecht, alongside COO Martha Burkard, CTO Eric Lofdahl, VP of Sales and Marketing Wil Ralston, and Director of Business Development Vara Prasad Boddu.
7212 S. 30th Street
Phoenix, AZ 85042
Phone: (602) 481-1544
Email: Gregl@singlepoint.com (for company CEO)
Yahoo! Finance: SING News
Latest Financial News for SING
HOLLYWOOD, CA / ACCESSWIRE / July 31, 2020 / Cannabis COPD treatment, CBD ancillary products, solar expansion, spiritual cooked healing, We're being played; this week on MoneyTV with Donald Baillargeon.
Point Roberts, Washington and Delta, British Columbia--(Newsfile Corp. - July 30, 2020) - Investorideas.com, a global news source and leading investor resource covering cleantech and renewable energy stocks issues a sector snapshot looking at acquisitions and consolidation in the solar sector, featuring SinglePoint, Inc. (OTCQB: SING). Read the full article on Investorideas.com https://www.investorideas.com/news/2020/cleantech-climatechange/07300OTCQBSING-Solar.aspThe solar industry is witnessing a global consolidation amidst the pandemic. According to CX Tech, "Fresh data from China's solar ...
Initiates National Roll Up Strategy with Intended Acquisition of a Majority Interest in Standard Eco, a solar Developer and Installer Phoenix, AZ, July 29, 2020 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- SinglePoint Inc. (OTCQB: SING) (“SinglePoint”), today announced that its majority owned subsidiary, Direct Solar of America, LLC (“Direct Solar”), has entered into a Letter of Intent (“LOI”) to acquire Standard Eco Solar (“Standard Eco”), a developer and installer of grid-tied solar electric systems in Texas, Illinois, and Arizona for a combination of cash and stock. Direct Solar and SinglePoint are currently conducting due diligence and SinglePoint will issue common stock once the definitive agreement and audit are completed, facilitating this investment through Direct Solar of America. The transaction is expected to close no later than December 2020. Standard Eco achieved unaudited revenues of $12,331,703 in 2018 and $11,345,061 in 2019 and was operationally profitable in both years.Pablo Diaz, CEO Direct Solar of America, stated, “We are excited to have entered into this LOI and to begin the work necessary to complete this important acquisition. We believe there is a significant opportunity to embark on a roll up strategy in the solar industry and we see this potential acquisition as an important first step forward for Direct Solar in achieving the goal of being the premier national residential and commercial solar provider. We look forward to reaching a definitive agreement and to add the experienced management and financial strength that comes with this acquisition, as we work to build significant long-term value within our business and for the SinglePoint shareholders.”This is the first acquisition from the recently announced national solar expansion through targeted business acquisitions for SinglePoint and Direct Solar. This intended acquisition will broaden the combined service offering expertise and increase the revenue base in additional to expand gross profits. Standard Eco represents an ideal acquisition that is well positioned to leverage and complement the sales and customer acquisition platform built by Direct Solar that has recently expanded its nearly national footprint to cover 34 states, including Texas, Illinois, and Arizona where Standard Eco currently operates. Direct Solar intends to use this potential transaction, when completed, as a catalyst for its recently announced national solar installation roll up strategy. We will continue to target accretive companies within the Solar and Renewable Energy space that can benefit from our national footprint and meet our previously announced acquisition strategy. Our goal is to become the national leader in residential and commercial solar solutions and offerings operating in all 50 states.“Our intended acquisition of Standard Eco complements our overall strategy of providing full spectrum, market leading solutions to Direct Solar’s solar customers as we continue our national expansion through a combination of organic growth and targeted acquisitions that will enhance and deepen our services within our footprint,” said Wil Ralston, President, SinglePoint Inc. “This acquisition leverages many of Direct Solar’s core capabilities and we look forward to the opportunity to expand and grow the overall revenue through expanded solar services.”A consolidation phase in the domestic residential solar market has recently begun with the combination of Vivint and Sun Run in a merger that was announced on July 15, 2020 in which Sun Run acquired Vivint for a reported $3.2 billion. One of the key components of that deal was the value of having a high-quality sales channel. It is estimated that the Sun Run – Vivint combination will create an entity that has about 15% of the current residential market share in the US. It is estimated that Residential Solar in the US has only reached 3% penetration. In 2019 nearly 40% of all new electricity was added by solar-centric solutions. The global solar energy market was valued at $52.5 billion in 2018 and is projected to reach $223.3 billion by 2026, growing at a CAGR of 20.5% from 2019 to 2026. After a strong 2019 Q4 and a record Q1 of this year, residential solar installations were hampered in Q2 by work stoppages, delays and temporary muted consumer demand caused by the complications of the current pandemic and corresponding economic shut downs which is accounting for the industry forecast of a 25% year-over-year drop in residential solar installations. Residential Installation has since begun to see a rebound in consumer demand and is set to resume growth in 2021.Direct Solar’s high quality and strategically valuable decentralized virtual sales platform serves as an expert concierge for prospective homeowners and small commercial clients guiding them through the contract process and eventually handing over customers already under contract to installation partners within our covered sales territories. The recent and continuing expansion of Direct Solar’s sales platform into 34 states and counting, allows the company to reach more households and raise awareness about the benefits of home solar and batteries which continue to drive the market for residential and small commercial customers. The Direct Solar specialized concierge sales approach provides an immediate cost savings for installers who typically would resort to hiring expensive door-to-door sales professionals. In a post or continuing pandemic world, partnering or combining through acquisition with a leading virtual specialized sales platform like Direct Solar makes a lot of sense for smaller independent solar contractors and installers like Standard Eco.About SinglePoint, Inc.SinglePoint Inc. (OTCQB: SING) is a fully reporting company with core holdings in Solar Energy Services and Industrial Hemp based Consumer Products. Acquired in May 2019, Direct Solar of America, a majority owned subsidiary, now operates its leading national solar sales brokerage model in 34 states. In the past year Direct Solar of America has virtualized its sales platform and has added and expanded its corporate offerings to include Direct Solar Capital (Financial) and Direct Solar Commercial with a focus on financing, designing or developing small to mid-size commercial opportunities and projects. 1606 Original Hemp, has been designed and created to be the premier category leader in manufacturing and marketing high quality smokable industrial hemp consumer products for sale through traditional retail channels and online. Since its debut in late 2019, 1606 Original Hemp has been placed into hundreds of retail locations across the country and has amassed a large social media following that continues to grow. The Company has a portfolio of non-core focused business that are searching for strategic partnerships or other alternative solutions. SinglePoint is committed to positioning the Company to be able to up list to the highest exchange possible which we feel is a benefit to our stakeholders and shareholders.Connect on social media at: https://www.facebook.com/SinglePointMobilehttps://twitter.com/_SinglePointhttps://www.linkedin.com/company/singlepointhttps://www.youtube.com/user/SinglePointMobileFor more information visit: www.SinglePoint.com Forward-Looking StatementsCertain 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 the potential closing of the transactions contemplated by the LOI with Standard Eco, 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 (that any such closing will occur) and actual results and future events could differ materially from those anticipated in such statements.SinglePoint 888-682-7464 email@example.com
PHOENIX, AZ, July 23, 2020 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE – SinglePoint Inc. (OTCQB:SING) a fully reporting public company with core holdings in solar energy and hemp consumer products intends to prioritize and reallocate company assets and business strategy around the emerging and growing market opportunities in residential and solar energy and specific hemp based consumer products. * Management unveils a residential and small commercial solar centric roll up strategy designed to increase market share, revenues and most importantly build a future business focused on profitability. * Intends to grow by initially targeting specific installer or developer based solar related acquisitions identified by its subsidiary, Direct Solar America, to capitalize on the emerging consolidation trend in the Solar Industry as evidenced by the recently announced Sun Run and Vivint Solar combination to compete with Tesla. * Solar Industry is rebounding from manufacturing (panel) tariffs while local and state mandates and credits and low cost of implementation position historic solar opportunity in anticipation of increased infrastructure and clean energy programs featuring solar. * Company focused on the two most promising long term strategic initiatives Hemp and Solar: other non-core businesses to operate autonomously while being positioned for sale or strategic partnerships. The company's long term strategy is to increase shareholder value first by targeting accretive deals that have the potential to increase profitability, cash flow and to improve the balance sheet by paying down high interest or unfavorable convertible notes. We will continue to look to access capital with more favorable terms and judiciously utilize our stock to facilitate transactions that meet our acquisition or growth criteria. Residential installations and Smaller Commercial Projects (<$20M) are rebounding from the effects COVID- 19 had on the market as eco-conscious consumers look to take advantage of record low financing rates to lessen their impact on the planet while ensuring the ability to have power in these uncertain times. The company previously announced its first commercial project which fit the strategic commercial customer acquisition criteria developed by senior management to focus on small to mid-sized commercial projects that we feel are currently underserved in the market and represent a high growth potential. We are now utilizing this same criteria and applying it to identify known vendors and installers in our network to build our targeted acquisition pipeline. Targeting accretive acquisitions will propel the company to its goal of building a national solar installation network.Direct Solar America (“DSA”), a wholly owned subsidiary (acquired on May 14, 2019) now operates in 34 states which is a leading if not the leading national solar sales brokerage company. In the past year, DSA has added a commercial and a capital division. DSA has continued to build valuable referral and financing partnerships that enhance its deal flow and can improve margin and profitability on residential and commercial solar projects. National Solar NetworkThe acquisition of Vivint Solar by Sun Run for $1.46B in stock and assumption of $1.8B in debt signaled to the market that the solar consolidation phase has begun. The Vivint-SunRun combination is estimated to control approximately 15% of the current residential solar market. This is a significant deal for solar and puts smaller providers in a precarious position as the economies of scale will be very difficult to maintain. SinglePoint believes that this deal solidifies management's plan to roll up targeted solar installation companies providing savings and enhancements related to sales acquisition costs and shared back office services. We intend to build a national solar installation network targeting acquisitions primarily within our existing solar sales footprint then expand into high growth potential areas. The Solar Energy Industries Association (SEIA) report last updated June 11, 2020, the “supply chain, overhead and margin” are listed as over half of the average industry costs of $2.83 per installed watt.In addition to the economies of scale, the planned vertical integration of our leading sales network and local installation will provide additional opportunities to create a network that has a multiplying effect on value creation and scale throughout the companies as opposed to simply having singular, siloed or “non-connected” solutions. Direct Solar America’s early stage acquisition criteria is centered on multi-year installers that are doing between $5M - $15M in annual revenue. The current financial environment due to COVID-19 has impacted many businesses to the tune of 35% or more. Industry forecasts show that in 2020 the residential and non-residential markets will see 25% and 38% decreases in year-over-year installation volumes, respectively, as the segments face challenges posed by work stoppages, and permitting delays. We don’t believe this to be a long term impact to solar as many leading industry outlets project a quick recovery and to resume projected growth in 2021. In fact, prior to the COVID- 19 temporary slowdown, Solar has been growing quickly as overall prices have become affordable and competitive. Overall 2019 was a banner year for solar with nearly 40% of all new electricity was added by solar centric solutions. The Solar+ Battery Storage opportunity2021 and beyond represents a massive opportunity for solar as both parties have introduced or supported legislation earmarking billions of dollars towards infrastructure spending is a critical and essential tool to drive economic growth. Continued ESG focused investing alongside potential infrastructure and clean energy policies, including solar focused stimulus and incentives have the potential to provide sustainable tailwinds in the near future.Excerpts from a recently published report (Morningstar Analyst Sees Potential for US Energy Independence with 100% Renewable Sources) by Travis Miller states that the country as a whole has a chance to make energy independence based on renewable sources: “Solar alone will never supply 100%. But when you combine solar with wind, with batteries and with some other non-carbon or renewable energy sources, then I do think you can get to 100%. Solar already is at the top of the investment list for nearly all investors, from utilities to corporates, who want to expand their renewable energy profiles. Most of the market agrees that solar is the accepted choice for incremental renewable energy. It will only grow over the next decade as utilities and energy companies try to meet the demands from policymakers and corporates.”Direct Solar America - Residential Brokerage expands Nationally and adds Commercial and Capital Divisions and is now positioned to be a national solar provider capitalizing on the Solar+ Battery Storage market opportunityIn May 2019 SinglePoint completed the acquisition of Direct Solar of America, a solar energy brokerage business that helps its clients find and install the best available solar energy system for any building residential or commercial. From acquisition to year end 2019 the company surpassed $2,000,000 in revenue primarily in the Residential division, helping SinglePoint achieve its largest revenue year in the company history. Currently, Direct Solar America residential unit currently operates in 35 states being led by Texas, Illinois, Florida, and North Carolina with plans to continue expansion. The 2020s has been labeled as the Solar+ decade as residential consumers and business owners continue to implement Solar+ Battery Storage solutions.A Streamlined Focus on our most promising Core Business AssetsThe past few years at SinglePoint have been focused on preparing the public company to become fully reporting and seeking out investments and capital partners to support the growth or acquisition of companies we felt had a high growth opportunity creating a diversified business platform with high risk and high reward possibilities. Moving forward we will concentrate a majority of our efforts to look for acquisitions or to make improvements in our go forward core business segments in the solar and hemp categories. Senior management is committed to continuing to look for accretive acquisitions, supported by favorable capital that will ultimately build profitable business units that with revenue growth in addition to utilizing future profits to pay down unfavorable term debt, improving cash flow, and the balance sheet. The Company filed a prospectus in June 2020 allowing for the resale of up to 320,000,000 shares of our common stock with a maximum value of $7,000,000 USD. The shares of common stock will be issued pursuant to the equity financing agreement with GHS Investments LLC. dated April 21, 2020. The equity financing agreement provides SinglePoint access to lower cost financing which will ultimately lessen dilution.The Company intends to use the net proceeds for product development, repayment of debt, including less favorable convertible notes, sales and marketing, working capital, capital expenditures, and other general corporate purposes. The Company is committed to having the ability to access capital in order to maintain and grow its existing core business units and as a potential component utilized for acquisitions which will result in further dilution to the existing shareholders.Our ultimate goal for our stakeholders and shareholders is to uplist to a higher exchange, we are positioning the Company for that eventuality but it will take improvements in revenue and profits, shareholder equity, price per share to get to a higher listed exchange. It is our belief that eventually uplisting on a higher exchange provides additional liquidity for our current shareholders and investment groups. We are committed to taking the appropriate actions at the appropriate times to continue to drive the company towards achieving its goals.“Our unveiling of Direct Solar of America/SinglePoint acquisition strategy comes at a unique time following the combination of Vivint and Sun Run signaling a potential consolidation phase in the Solar Industry. We are focused on building a national installation network that leverages our recent expansion of our virtual sales network currently covering 34 states,” states Wil Ralston, President SinglePoint. “We intend to take advantage of the slight downturn in the market caused by the COVID- 19 pandemic to bolster and build our market share through targeted acquisitions. We believe that we have a compelling opportunity to build a truly national solar network and the time is now for us as a Company as consumer demand for cleaner energy will continue and be enhanced by the historical proposed infrastructure spending that is on the horizon.” 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, hemp, and technology applications. SinglePoint is working to grow the company to a multinational brand. Connect on social media at: https://www.facebook.com/SinglePointMobilehttps://twitter.com/_SinglePointhttps://www.linkedin.com/company/singlepointhttps://www.youtube.com/user/SinglePointMobileFor more information visit: www.SinglePoint.com Forward-Looking StatementsCertain 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. 888-OTC-SING firstname.lastname@example.org www.singlepoint.com
Phoenix, Arizona--(Newsfile Corp. - July 22, 2020) - SinglePoint Inc. (OTCQB: SING) a fully reporting public company with core holdings in solar energy and hemp consumer products intends to prioritize and reallocate company assets and business strategy around the emerging and growing market opportunities in residential and solar energy and specific hemp based consumer products. The company's long term strategy is to increase shareholder value first by targeting accretive deals that have the potential ...