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Saturday, November 26, 2022

The Exciting Story of Singlepoint Inc(OTCMKTS:SING)

Singlepoint Inc(OTCMKTS:SING) is one exciting story in small caps that has seen a spectacular rise up at the beginning of this year from $0.0075 lows to recent highs near $0.15 a share SING is an exciting story in small caps that has quickly attracted legions of shareholders who believe this one goes way higher.

SING has seen significant growth through acquisition and is involved in Bitcoin and digital currencies as well as the Cannabis sector which have all seen spectacular growth over the past year.

Singlepoint Inc(OTCMKTS:SING) has grown from a full-service mobile technology provider to a publicly traded holding company. Through diversification into horizontal markets, SinglePoint is building its portfolio by acquiring an interest in undervalued subsidiaries, thereby providing a rich, diversified holding base. Through its subsidiary company SingleSeed the company is providing products and services to the cannabis industry.

Earlier this year SING closed a $1 million company friendly Convertible Promissory Note with an institutional investor. Proceeds from the investment will be used to execute on the company’s previously announced BitCoin Payments solution, as part of its partnership with First BitCoin Capital (OTC: BITCF). With the new round of funding, SinglePoint management believes the company will be able to move very quickly to develop a crypto currency solution and continue acquisitions in cannabis space.

“This is great timing for SinglePoint. We have many acquisitions deals in the pipeline, and access to this capital will exponentially increase the chances of getting these done. In addition, we have many technical developments that are ready launch. We will be able to develop our solutions and really start driving sales,” states Greg Lambrecht CEO of SinglePoint.

SinglePoint has started building an in-house solution enabling consumers to obtain Bitcoin at any point of sale. The new solution can be utilized by any business, from convenience stores to medical and recreation cannabis dispensaries. The company states it will be “a payment service to make instant bitcoin powered purchases possible when all you have is a credit (or debit) card.” The application will be KYC-AML compliant. Through a simple sign up form and easy ID verification component a customer will be able to set up their account online beforehand or will be able to sign up within seconds directly at the point of sale.

Beyond Bitcoin, SinglePoint is currently in negotiations to make a major purchase from a company that has recently ICO’ed a cannabis specific crypto currency to be used specifically for the cannabis industry. SinglePoint will roll this into its point of sale crypto currency offering. Enabling the consumer to purchase which ever coin they would like to as well as giving the dispensaries the option of which coin they would like to accept, which could be both.

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On September 6 SING announced the acquisition of Dr. FeelGood, a profitable cannabis distribution company headquartered in Phoenix, Arizona. Dr. FeelGood is a leading distribution company with expansion plans to add proprietary delivery and ordering technology application. Per the agreement terms, SinglePoint will acquire fifty-one percent (51%) of the company in a combination of cash and stock, which will allow SinglePoint to recognize all revenue. The acquisition will add an additional revenue stream to SinglePoint, solidifying the company’s revenue-by-acquisition strategy.

Dr. FeelGood represents the third acquisition of the year for SinglePoint. This move provides SinglePoint with additional revenue, as well as team members that have been actively working in the cannabis industry for many years. The founders of Dr. FeelGood have established a plan to develop a proprietary mobile application that will enhance the user experience and streamline the company’s operations. The companies look to release this app in the next 90 days; once completed they will be able to license this technology to other distribution companies all over the United States.

SinglePoint CEO Greg Lambrecht states, “We are very excited for the success of this acquisition. The acquisition of Dr. FeelGood is the third acquisition of the year. SinglePoint’s revenue has dramatically increased, which through the acquisition of DIGS Hydro and Convectium has increased 378x compared to the first quarter of 2017. SinglePoint is in a better position than it has ever been before. We are well capitalized to continue acquisitions and we are optimistic to complete additional acquisitions and very optimistic to significantly increase the company revenue.”

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Currently trading at a $59 million market valuation SING has little assets or revenues and rising short term debt. But SING is an exciting story in small caps; they Company has made 3 significant acquisitions this year incuding the acquisition of DIGS Hydro and Convectium which has brought significant revenues to SING: The Company also just completed the acquisition of Dr. FeelGood a profitable cannabis distribution company headquartered in Phoenix, Arizona. SING has also been making huge stries in digital currencies as well as a BitCoin payments solution that attracted $1 million in funding. 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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