SinglePoint, Inc. (OTCMKTS:SING) has posted revenues of $1.05 million in Q3 2019. It is an increase of 176% when compared to the same period in 2018. Recently acquired Direct Solar contributed to the revenues of SinglePoint. Chief Executive Officer of SinglePoint, Greg Lambrecht, said Q3 is a great quarter for the company and expects to post robust revenues in Q4 2019.
Response for Pure American Hemp Cigarette
Don Smith, Vice President (Sales) of SinglePoint, said the company received an overwhelming response for Pure American Hemp Cigarette. The product is free from tobacco and nicotine. It is an ideal choice for people who intend to get rid of smoking addiction. The company shipped several orders to retail clients and distribution channels after successfully launching in October 2019 at the National Association of Convenience Store show.
Introduces Original 1606 Hemp
SinglePoint is introducing original 1606 hemp, an innovative smokable product derived from hemp. It would offer a myriad of smokable hemp products under this brand. The company would introduce more new products to capitalize on the growing demand for hemp-based products. It would also augment production capacity and improve distribution channels to become a premier brand in the hemp category. The demand for CBD in the US is expected to be more than $20 billion by the year 2024. Smokable hemp accounts for 2% of the CBD market.
Signs MOU with SchollyMe
Direct Solar entered a pact with California based SchollyMe, sports recruiting app for 32 NCAA sports in the US, to market Direct Solar through the schools represented by the latter. It is on the backdrop of already achieving significant success in improving business for both the firms.
SchollyMe facilitates recruiting of students to prove their talent. This social media platform is already in use in China. Chief Executive Officer and founder of Direct Solar, Pablo Diaz, said the companies accomplished a major in success in working for the domestic schools. It is accruing excellent returns and working now with forty-seven schools in Fort Worth, Houston, Dallas, and Austin. The deal with Director Solar helps the company to address all the high schools in the nation.