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Saturday, May 28, 2022

SinglePoint, Inc. (OTCMKTS: SING) Heating Up and on the Move as Solar Operator Acquires the Boston Solar Company & Details Plans to Up List to National Exchange

SinglePoint, Inc. (OTCMKTS: SING) is making an explosive move up the charts after the Company announced the acquisition of The Boston Solar Company, LLC; a leading solar installer based in Massachusetts, booking $17.7m in revenue for FY2021. It is estimating revenues of at least $25m in 2022, with more than $16m already contracted and in the installation pipeline. Boston Solar is the first of multiple acquisitions the company intends to close this year. Singlepoint filed also filed an 8k detailing the cost of the acquisition. 

Management has made it clear that the Boston Solar acquisition is the first of many planned acquisitions coming this year. According to the press release the Company has established rigorous criteria for future acquisitions as it expands its reach and increase value for customers, the business, and its shareholders. Over the next 18 months, SinglePoint plans to add additional high quality regional installers to build out a nationwide network of service providers. Closing this acquisition starts the timeline for SinglePoint to start its up-listing application process to achieve the goal of a NASDAQ listing in 2022. Management has been working hard behind the scenes already completing the paperwork, consulted with advisors, finalizing audits and drafting their S1. These steps of preparation will ensure SinglePoint’s uplist is strategically executed in a timely manner. With the current timeline of pending acquisitions, the Company plans to up list to a national exchange around May 2022. 

SinglePoint, Inc. (OTCMKTS: SING) operating out of Phoenix, Arizona provides energy solutions and energy-efficient applications to drive better health and living. The Company currently has core subsidiaries including solar and air purification. SinglePoint built its portfolio through synergistic acquisitions, and partnerships to provide a rich, diversified holding base. The Company’s initial focus is on solar energy, and it is committed to building a foundation for future expansion opportunities and building brands based on technology solutions. SinglePoint has grown through acquisition and owns between 51% and 100% of the following business’s: SinglePoint Direct Solar LLC (“Direct Solar America”, 51% interest), Box Pure Air LLC (“Box Pure Air”, 51% interest), EnergyWyze LLC (“EnergyWyze”), Discount Indoor Garden Supply, Inc. (“DIGS”, 90% interest), and ShieldSaver, LLC (“ShieldSaver”, 51% interest). The Company intends to spin-off or sell additional assets or non-core subsidiaries in the future. 

One of SinglePoint’s biggest business is Direct Solar, LLC; a solar brokerage company headquartered in Phoenix, Arizona that currently works with homeowners to define the solar solution for their needs in multiple cities around the United States. Their unique brokerage model is scalable nationally and currently serves approximately 11 states that can be actively serviced by its partners and providers. Direct Solar has resumed onboarding of service providers and is again expanding into additional markets as Direct Solar builds a national sales footprint.  

Singlepoint owns 51% of Box Pure Air, LLC, an emerging industry leader in high-proficiency air purification technology. Box Pure Air is a distributor of industrial grade high-efficiency air purification products designed and manufactured to improve indoor air quality. Our products are engineered and designed to exceed the national standards of indoor air quality by following CDC requirements for air ventilation utilizing HEPA certified filters and incorporating proven antimicrobial technologies. Box Pure Air sells and distributes AIRBOX™ Air Purifier product line, an industrial and commercial grade suite of products made in the United States. In a recent press release management stated: “The Company’s air purification sector is continuing to hold strong within the market, with projected revenues between $15M – $20M.  

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Singlepoint went on a tear after the Company announced the acquisition of The Boston Solar Company, LLC; a leading solar installer based in Massachusetts, booking $17.7m in revenue for FY2021. It is estimating revenues of at least $25m in 2022, with more than $16m already contracted and in the installation pipeline. Boston Solar is the first of multiple acquisitions the company intends to close this year. Closing this acquisition starts the timeline for SinglePoint to start its up-listing application process to achieve the goal of a NASDAQ listing in 2022. 

Boston Solar, a Proud Partner of the Boston Red Sox, has installed more than 5,000 residential and commercial solar systems powering thousands of homes and businesses in New England, predominantly Massachusetts, since its founding in 2011. The company has been honored with the 2020 Guildmaster Award from GuildQuality for demonstrating exceptional customer service within the residential construction industry. For five consecutive years, the Company has been recognized as a Top Solar Contractor by Solar Power World magazine. The company has also made Boston Business Journals Largest Clean Energy Companies in Massachusetts List. Boston Solar is a member of Solar Energy Business Association of New England (SEBANE).  

SinglePoint plans to continue expanding its operational footprint as it acquires additional full service solar EPC (Engineering, Procurement & Construction) companies throughout the nation. The Company is targeting established solar companies in specific markets that can complement each other and yield synergies and economies of scale. The Companys acquisition plan will grow the revenue and profit base and will position SinglePoint for significant growth going forward. With recent government funding initiatives announced and periodic interruptions to the power grid, homeowners, business owners and small commercial owners are searching for ways to ensure that they have access to constant and dependable power. 

SING CEO Wil Ralston stated: “The addition of Boston Solar is a milestone for SinglePoint. This acquisition moves us in the right direction to achieve our goals of building the nation’s leading solar services network. As the electrification of everything continues and the importance of obtaining consistent and reliable energy access, we see a long-term future for solar, EV Charging and Energy Storage. We are excited to welcome Boston Solar and their entire experienced professional team. With this acquisition we are addressing the massive residential opportunity with the leading residential company in the New England area which shares the common core values of providing best in class customer service and honest treatment of all customers across the board as evidenced by their impressive business history in the market and positive customer reviews. 

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Currently trading at a $8.5 million market valuation SING has just 68,271,239 shares outstanding and just under $1 million in the treasury. Singlepoint has a long history of big moves and we have written about some of them, SING biggest run was this time last year when it made a huge move up from current levels; SING has runner in its blood. Currently priced cheap at sub $10 million market valuation the acquisition of The Boston Solar Company, estimating revenues of at least $25m in 2022, starts the timeline for SinglePoint to start its up-listing application process to achieve the goal of a NASDAQ listing in 2022. Management has made it clear that the Boston Solar acquisition is the first of many planned acquisitions coming this year. According to a press release, that with the current timeline of pending acquisitions, the Company plans to up list to a national exchange around May 2022. We will be updating on SING on a daily basis so make sure you are subscribed to microcapdaily.com so you know what is going on with SING.

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Disclosure: we hold no position in SING either long or short and we have not been compensated for this article.

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