SEATTLE, Dec. 04, 2018 (GLOBE NEWSWIRE) – via NetworkWire – SinglePoint (OTCQB: SING), a fully reporting technology company providing mobile payments, ancillary cannabis services and blockchain solutions, recaps the year, providing insight to company initiatives and progress as well as acquisitions, both past and future. In 2018, SinglePoint acquired two companies, which led the company towards 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.
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-if the 2018 Farm Bill passes. The rapid growth will be supported by an anticipated explosion in distribution channels for these products in the next few years; chain retailers are expected to enter the market as soon as 2019. "The 2018 Farm Bill is currently awaiting signature by President Trump, which is expected to happen as soon as next week. Once it is signed, hemp-derived CBD would be declassified and the market would open up for additional growth.
A single presence in the space with a large online presence as well as a retail distribution reach. The company has had a great success with CBD products and is being added to the site for 2019. SinglePoint expects SingleSeed to be one of the top revenue-producing subsidiaries in 2019. space, and we are actively selling products through SingleSeed.com now. Wil Ralston, president of SinglePoint, is a new member of the company.
Adding to its portfolio of cannabis-related businesses, SinglePoint launched LastMile Delivery. The application, built in partnership with AppSwarm (SWRM), is intended to help cannabis delivery businesses track their deliveries and provide customers with a real-time view of when and where their order is. It provides a major customer satisfaction opportunity as well as streamlining the tracking of the future and past orders. Cannabis delivery guidelines. SinglePoint is currently onboarding new customers and launching a direct marketing campaign into approximately 500 dispensaries over the next three months.
Customers that have been asked to submit the LastMile Delivery application. Once a customer places an order, the dispensary is able to assign a driver and have the product delivered. The system keeps track of the pertinent data needed by the dispensary, as the ID of the purchaser, the route taken and the payment collection. LastMile Delivery is a SaaS solution that can be used by any business with a need for track deliveries or drivers.
Continuing in the cannabis space, SinglePoint invested in Jacksam DBA Convectium. Jacksam recently went public and, as of Dec. 3, 2018, has a market capitalization of approximately $ 80 million. SinglePoint currently owns about 9 percent of the company.
These are the types of businesses SinglePoint has been working to invest in or acquire. The opportunity for exponential growth in the cannabis industry is prevalent, and SinglePoint hopes to have more than one winner in its portfolio.
Another portfolio company, DIGS, has continued to expand its footprint and is currently fulfilling many of the orders for SingleSeed.com. Crude and isolated forms. The company is also working on the supply of bulk orders of CBD. The company can have many products and handle drop shipping for these products. For more information on the program, please reach out [email protected].
DIGS has provided SinglePoint additional revenue as well as many contacts in the industry. More than one open and legalize cannabis.
Rounding out SinglePoint's current cannabis entities is SingleCoin, a bitcoin wallet application whose technology was supported by AppSwarm. The two companies are working together to build an application that would support the easy transaction of cryptocurrencies. Currently, the application supports both Bitcoin and Ethereum. The companies are targeting Q1 launch of buying, trading and trading of different coin through various liquidity exchanges. Initially, it was planned to build a proprietary exchange for consumers to use; However, the two partners have decided to work with partners because of licensing needs and liquidity. They are important for users to have liquidity in the exchanges they use, and SingleCoin, being connected to multiple exchanges, will amplify that availability.
Adding diversity to SinglePoint holdings is ShieldSaver, a SinglePoint company acquired in 2018 that is making huge strides in its expansion. The company recently completed a mobile application. ShieldSaver's proprietary platform proactively addresses many issues in the automotive markets. WallyPark at Denver International Airport. The partnership gives customers of WallyPark transparent pricing and a hassle-free way of getting their windshields replaced. "This partnership is a commitment to enhancing the customer experience and keeping vehicles safe while on the road," says Mark Pfeiffer, Wally Park Denver International Airports General Manager, "and an additional customer perk, we are offering a free carwash for every windshield replaced at WallyPark ".
ShieldSaver recently signed an agreement with the City of Sacramento. Expand to 2019 and is in multiple discussions now for additional partnerships, which would add to previously announced accretive relationships. ShieldSaver is adding blockchain solutions to its development plan. Help to build trust and protect the data from being manipulated or falsified. This solution will help everyone participating in the purchase or sale of car, including individuals, banks, insurance companies and more.
Continuing down the path of automotive solutions, SinglePoint acquired JAG. JAG has grown to a clip, most recently establishing an Arizona presence, which is expected to be at least double the revenue for the subsidiary. Individuals expects the entity to hit $ 2 million in revenue for FY 2019. This will be done through the fulfillment of ShieldSaver as an additional position and fulfillment partners.
Future Acquisitions
SinglePoint is financial structure SinglePoint is currently working on two additional acquisitions. Acquisitions will be a strong point in 2019 for the company. Over the years, SinglePoint has steadily grown the size of the acquired companies. Management hopes that in 2019 the company will be able to ramp up the size of the acquisition to quickly meet its revenue goals and increase shareholder value.
"SinglePoint has had an excellent 2018, and, overall, it has been a huge year for establishing the company. We are looking forward to 2019. Adding revenue, adding to portfolio of companies, being diversified and bringing multiple new solutions to market. we were at in 2018 and grow to surpass those numbers. Greg Lambrecht, SinglePoint CEO, states: "We have the right team, the right products"
For more information, please reach out [email protected].
About SinglePoint, Inc.
SinglePoint, Inc. (SING) is a technology and investment company with a focus on acquiring companies. 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, providing a rich, diversified holding base. Through SingleSeed, the company is providing products and services to the cannabis industry
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For more information visit: www.SinglePoint.com
Forward-Looking Statements
Certain issues in this article may be found under 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. Statements of potential future plans and objectives of the Company, are forward-looking statements that involve risks and uncertainties. There are no assurances that such statements will be accurate and actual results and future events could differ materially from those anticipated in such statements.
Technical complications, which may arise, could be prompted by any strategically significant plan (s) outlined above. The Company undertakes no obligation to revise or update any forward-looking statements to reflect events or circumstances after the date of this release.
Corporate Communication
SinglePoint Inc.
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