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SinglePoint, Inc. (OTCMKTS:SING) Reports Revenues Of $3.343 Million in 2019

SinglePoint, Inc. (OTCMKTS:SING) has reported revenues of $3.343 million in 2019. It is an increase of 189% when compared to the previous year. The takeover of Direct Solar in May 2019 contributed $2.189 million to the revenues of SinglePoint.

Customized solar solutions

Chief Executive Officer and Chairman of SinglePoint, Greg Lambrecht said better than expected results in 2019 show its commitment to the shareholders. The company expects to continue the same growth trend in 2020. SinglePoint established itself as a leader in offering solar concierge services to households by acquiring Direct Solar America. It also provides customized solar solutions based on the needs of residential customers.

Direct Solar expands presence

Besides showing continued growth in 2019 and 2020, Direct Solar expanded its presence in twenty-five states. With contractors looking to improve their revenues by associating with the solar platform of Director Solar and offer innovative solutions, the business of SinglePoint grows at a fast pace.

Greg said Direct Solar’s rapid growth in residential solar business and profitability gave confidence to SinglePoint to form a separate business unit to focus on commercial solar sales. Established in H2 2019, the commercial business unit of Direct Solar is quick in clinching small to mid-sized deals, which would generate long term and immediate revenues that represent millions of dollars.

According to Greg, the senior management played a vital role in improving the business and revenues in 2019. Direct Solar America Residential Business Unit posted better results within six months of operation. SinglePoint allocated the profits generated from Direct Solar Business for startup costs and funding of the Capital and Commercial Solar Business Units. The company plans to expand its business in the renewable energy sector going forward.

Repays convertible investor notes

SinglePoint has repaid convertible investor notes in Q1 2020. The senior management will work with investors to eliminate outstanding notes and improve the balance sheet.

Multiple Pre-orders for Klen Hand sanitizer

After successful pre-launch, the company has received several pre-orders for Klen hand sanitizer with moisturizing hemp seed oil. It has received good acceptance and several distributors have shown interest in this innovative hand sanitizer. The company is in discussions with distributors and buying groups to sell its Klen hand sanitizer to the consumers through bodegas, convenience stores, and other outlets.

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Direct Solar America, A Subsidiary Of SinglePoint, Inc. (OTCMKTS:SING), Continues To Drive New Business In 2020 With New Sales And Marketing Initiatives

Director Solar, a subsidiary of SinglePoint, Inc. (OTCMKTS:SING), is gaining new business in 2020 with its sales, and marketing initiatives begin to offer more leads. The company developed a new contract last week because of improvements in customer service, efforts of canvassing teams, and partnership channels.

Posts impressive gains

Founder and Chief Executive Officer of SinglePoint, Greg Lambrecht, said the company is committed to improve the business of Direct Solar and continue the development. With states quickly introducing incentives, the company will act quickly and explore the viability to decide to roll out new teams in that region. Solar is a hot topic and the driving factor and helps the company to expand its business rapidly. Direct Solar has posted revenues of $2 million in the last six months.

SEIA declares 2020 as the solar decade

SEIA (The solar energy industries association) has declared 2020 as the solar decade. Abigial Ross Hopper, Chief Executive Officer, and President, the solar industry, will be the main source of energy this decade. Clean energy technologies such as solar will improve economies and reduce green gas emissions. The solar installations in the US in Q1 2019 have exceeded 2 million.

The solar installations are expected to increase to 3 million next year and 4 million in 2023. It is on the backdrop of improved environmental awareness and reduced installation costs. Renewable solar energy is economical and a substitute for conventional energy sources.

SinglePoint appoints a new CFO

SinglePoint has appointed Corey Lambrecht as the Chief Finance Officer to support revenues expansion. The company will also focus on expanding the footprint for Direct Solar. He also invested in LifeStyle Wireless before joining SinglePoint. Corey also served on the board of LifeStyle after it gets merged with Carbon Credits International.

President of SinglePoint, Wil Ralston, said the company is excited to welcome Corey, who has a broad experience, to support its existing management team and improve shareholder value. He said Corey has a solid experience in strategic acquisitions, sustainability, and new business development. Corey’s presence will help to scale up the solar business. The recently acquired Direct Solar continues to provide promising results. 

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SinglePoint, Inc. (OTCMKTS:SING) Posts Revenues Of $1.05 Million In Q3 2019: Direct Solar Contributes To Growth

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.

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SinglePoint, Inc (OTCMKTS:SING) Announces The Remarkable Performance Of Its Hemp™ Cigarettes

SinglePoint, Inc (OTCMKTS:SING) is pleased about the success it witnessed at the 2019 National Association of Convenience Stores Show (NACS). The company sold multiple cases. It says the demand for Pure American Hemp™ Cigarettes has shot up. This business guru vows to do all within its means to ensure it adequately serves this demand and also reaps the high revenues.

Research findings

 The Arcview Market Research projects and BDS Analytics have been conducting market research in the U.S. They estimate that by 2024, the collective market for CBD products will have surpassed $20 billion.

On the other hand, the New York-based investment bank Cowen & Co points to a figure of about $15 billion by 2025. The lead researcher for this body says the smokable hemp market at the moment is representative of about 2% of the entire CBD market. However, it has witnessed a 250% growth between 2017 and 2018, and he thinks the future is even more promising.

A Chicago-based cannabis market research firm Brightfield Group is the other one that has unveiled its findings. According to its research, the dried and smokable hemp flowers are performing quite well. The body has rated it as one of the fastest-growing segments in the whole CBD market.

Importance of the event

SinglePoint is pleased that the event also had it interact and share a lot with the representatives of the various stores that bought from it. These retail owners represented about 2500 stores. The others that the company interacted with included some buying groups and national distributors who were linked to about 20,000 retail locations. There is a massive demand to be met, and the business giant has already ordered additional products.

It was in the previous year that the 2018 Farm Bill was passed, and the CBD hemp flower mainstreamed. It was a transformative moment because the market for hemp cigarettes that fall under the innovative products category has gone up. SinglePoint says it is making major investments in efforts to add more reliable suppliers. Such suppliers are necessary for the company to succeed in its efforts to move its wide range of products. The company is pleased to be rated as one of the dominant players in the market.

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SinglePoint Inc. (OTCMKTS:SING) Subsidiary Direct Solar Signs Partnership with My Home Group

SinglePoint Inc. (OTCMKTS:SING) has announced that its subsidiary Direct Solar has entered into a partnership agreement with My Home Group Real Estate LLC. My Home Group is one of the fastest-growing real estate firms in Arizona and second fastest in the country.

Partnership increased solar contracts per month

Currently, Direct solar averages around 120 signed solar contracts per month. The partnership is a significant milestone that has the potential of significantly increasing the current monthly rate for the next six months as training and integration occurs. The SinglePoint subsidiary will offer training to participating agents as well as offer certificates to those going through the Direct Solar training program. The program will empower and educate agents in the solar sector to work with interested homeowners.

Greg Lambrecht, the CEO of Singlepoint, stated that the partnership is a massive win for Direct Solar. He said that the partnership will be beneficial to both companies.  They will work together to offer homeowners with the best services in both solar services as well as real estate transactions. He lauded the move as a match made for success and the management believes that it will more than double the number of transactions closed per month. 

Direct Solar offering affordable energy option

Direct Solar of America oversees the end-to-end solar process for homeowners by presenting the best and most affordable solar option. They also offer competitive financing options as well as ensuring there is complete installation to client satisfaction. The company safeguards the whole process of installation to offer the simplest and affordable way of changing to solar energy for homeowners.

With the collaboration with My Home Group, over 2300 agents will be able to offer alternative energy solutions to eco-conscious consumers as well as those seeking clean energy alternatives. This will also help homeowners seeking to reduce their dependence on the international grid as well as reduce their burden costly utility bills.

The solar market in the US has been expanding fast in Q1 2019 it went over 2 million installations. By 2021 the industry will most likely hit 3 million installations.

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Pure Products LLC Selects SinglePoint, Inc. (OTCMKTS:SING) For the Distribution Of Pure Hemp Cigarettes

Pure Products LLC has selected SinglePoint, Inc. (OTCMKTS:SING) as its prime distributor for the sales of Pure Hemp Cigarettes. Chief Executive Officer of SinglePoint, Greg Lambrecht, said the master distribution accord with Pure Products is a natural fit for the company. The CEO said the company previously serviced over 30,000 accounts across North America. Greg is pleased with the new opportunity and uses existing contacts of the previous company to market Hemp cigarettes. According to Greg, many retailers are anxiously waiting for this type of cigarettes.

Customers prefer tobacco with low THC

Steve Ross, President at Pure Products, said the trend is now towards hemp/cannabis cigarettes with low THC (less than 0.3%). He said the company sees SinglePoint as the best partner to market its all-natural hemp cigarettes across the nation at a fast pace.

Wil Ralston, president of SinglePoint, said his team would play a vital role to position this outstanding product as a leading product in the market. According to SinglePoint, specialty shops and retail outlets across the nation are eagerly waiting to dedicate the shelf space for hemp cigarettes in the CBD category. The retailers will improve their profits and revenues by selling the Pure Brand all-natural hemp cigarettes.

According to Ralston, the company already signed a definite agreement in the industrial hemp space with a major provider. This agreement with Pure Products is a bold move for SinglePoint. This new opportunity strengthens the position of SinglePoint. The combination of Pure Products team and Steve Ross will expedite the company to place the finished products in the shelves of retail stores.

CBD sales in the US to cross $20 billion

The sales of CBD products in the US are expected to exceed $20 billion by the year 2024. Smokable hemp accounts for 2% of the CBD products sales. According to Brightfield Group, a cannabis research firm based in Chicago, smokable and dried hemp flowers is the rapidly growing segments in the CBD space.

Revenues of SinglePoint

The revenues of SinglePoint have surged to $856,859 in Q3 2019 when compared to $311,237 in Q3 2018. Its gross profits have considerably increased to $415,913 in Q3 2019 when compared to $85,537 in Q3 2018.

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