Singlepoint Inc(OTCMKTS:SING) has been running up the charts in recent weeks since reversing off a penny at the end of December.
On January 16 SING announced the launch of PHYTO-BITES on SingleSeed.com. The company’s subsidiary SingleSeed.com has added a new vertical to its robust product line up. Serving pet owners with a brand-new offering that is formulated to reduce stress, pain, separation anxiety and inflammation. PHYTO-BITES is manufactured and supplied by CBD Unlimited formerly (Endexx) (OTC:EDXC). The two companies are working collaboratively to distribute this product online and in store all over the nation.
SinglePoint, Inc (SING) bills itself as a technology and investment company with a focus on acquiring companies that will benefit from the injection of growth capital and technology integration. The company portfolio includes mobile payments, ancillary cannabis services and blockchain solutions. Through acquisitions into horizontal markets, SinglePoint is building its portfolio by acquiring an interest in undervalued companies, thereby providing a rich, diversified holding base. Through SingleSeed, the company is providing products and services to the cannabis industry.
In December SING announced in 2018, SinglePoint acquired two companies, which led the company toward significant revenue growth. The company is expecting to top $1 million for 2018 and expects to triple that in 2019 with additional acquisitions and continued growth of current portfolio companies.
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Previous acquisitions such as ShieldSaver and DIGS continue to grow and provide opportunities for SinglePoint to expand. ShieldSaver has completed its first mobile application to support the company’s efforts. In January the company will launch the service in Sacremento International Airport as well as WallyPark at Denver International Airport. ShieldSaver has many companies in the pipeline to continue growth. The agreement with WallyPark and Sacramento will serve as baselines to the additional opportunities. “ShieldSaver has a massive opportunity to exponentially grow as it provides major value to both customers and the lot owners using our service. We have first mover advantage to take this trojan horse into major account through the US and Internationally as we expand,” states Dan Shikiar ShieldSaver founder.
Most recently, SinglePoint has put a heavy push on SingleSeed, which is distributing CBD products via the website SingleSeed.com. For 2018, the company added multiple product listings and has been organically increasing its reach. Cannabis Business Times recently released an article stating, “The hemp-derived CBD market is expected to hit $591 million this year, and, according to a new Brightfield Group report, it may grow 40 times this size—to $22 billion by 2022.
SingleSeed.com has steadily increased volume of orders which the company believes will be a major component of increased revenue in 2019. This week the company has been optimizing different landing pages and utilizing tools such a heat maps and A/B testing to target site visitors overall experience to refine and work on increasing conversion as well as site visits. SingleSeed will also continue to add new products and plans to add CBD for pets in the near future.
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Currently trading at a $25 million market valuation SING is fully reporting OTCBB with little assets, manageable debt and fast growing sales reporting $881,157 in revenues for the 6 months ended September 30, 2018 up from $186,726 for the same period last year. SING is an exciting story in small caps having become fully reporting almost one year ago SinglePoint management has been able to facilitate new funding on terms more favorable to the company. Recently SinglePoint signed a deal to raise up to $5,000,000. As Greg Lambrecht Singlepoint CEO recent commented. “2019 will be a banner year for SinglePoint we are equipped with the proper funding, partners and opportunities to be firing on all cylinders. We as a team expect to position SingleSeed and SinglePoint as market leads in the CBD market. 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.