SinglePoint, Inc. (OTCMKTS:SING)  has received a letter of intent to takeover Phoenician Engineering. Following the takeover, the three trademarks, nine issued patents, and additional pending patents to the asset class of SinglePoint.

Chief Executive Officer of SinglePoint, Mr. Greg Lambrecht said the company has confidence in the founders of Phoenician. The founders have developed a scalable and sustainable business. Working with the founders and bringing the business to next level is quite easy for SinglePoint.  SinglePoint can utilize the e-commerce knowledge, funding and along with the product line of Phoenician to improve revenues by almost five times in the next one and a half year.

Chief Executive of Phoenician, Mr. Colton Dukat said the company is excited to work with SinglePoint. The merger brings an opportunity to work together and add more value to the business and shareholders.

The two year audit of SinglePoint has been completed and is preparing to submit Form 10 Filing with SEC. Form-10 filing will provide more funding to the company to grow the business.

Phoenician is engaged in offering commercial grade equipment and consumer products. The company is currently offering medical grade grinders for the customers. It plans to unveil commercial grade grinders in the near future. Phoenician grinders are available in red, gold and black colors. Apart from dispensing in the US, the company also sells the products to nations worldwide. It is one of the reputed brands in the market for lifetime guarantee and good quality.

Following the merger, the company will continue to grow with SinglePoint. SinglePoint will utilize its expertise in online advertising and e-commerce arena to grow the business of Phoenician.

ShieldSaver, a subsidiary of SinglePoint, Signs Pact with CarFax

ShieldSaver, which is a subsidiary of SinglePoint, has entered into a pact with CarFax to pull out the data from the CarFax system and enhance efficiencies within its mobile application. The company also sends detailed information to the CarFax. The company is its footprint across the nation by establishing alliances with LAZ Parking and WallyPark, the international airport parking lot companies.

License Plate Recognition (LPR) technology is being used by ShieldSaver to collect vital consumer and automotive data on large scale. This data is shared with firms like insurance providers for legitimate need.