In First 30 Days of Direct Solar Purchase, SinglePoints route to Profitability,
Projecting $7,000,000 Revenue in 2019, Achieved $1,709,460 in Trailing 30 Days
PHOENIX, June 18, 2019 (GLOBE NEWSWIRE) -- via OTC PR WIRE – SinglePoint Inc. (OTCQB: SING) is pleased to announce Direct Solar has surpassed everyone’s expectations signing contracts to deploy $1,709,460 in solar installs over the previous 30 days. This revenue should generate approximately $803,769 in gross and $361,541 in net. Operating in just six states and all residential installs, the company has plenty of new opportunities and areas to grow in. Over the course of the next week, Direct Solar will add two more states – Missouri and Florida. The two new states should drive additional revenue and continue the explosive growth of Direct Solar.
These numbers put SinglePoint on the path to profitability from a cashflow standpoint very quickly. Management from both companies are very excited to see the continued growth of Direct Solar through multiple avenues including commercial. Direct Solar is currently negotiating a line of credit for cannabis businesses and other small businesses throughout North America. This provides Direct Solar the ability to not only generate the sale but provide the financing for these business owners.
“This acquisition puts SinglePoint on a huge trajectory path. This is not only a home run, but a grand slam in our eyes. These revenues and profits provide SinglePoint the ability to be in a profitable cash flow position and the opportunity to aggressively expand sales. For every dollar we are putting into marketing we are seeing a return of five. Expanding in additional major markets would exponentially increase the revenues on top of the already explosive growth,” states Greg Lambrecht, CEO SinglePoint.
About SinglePoint, Inc.
SinglePoint, Inc (SING) is a technology and acquisition company with a focus on acquiring companies that will benefit from the injection of growth capital and technology integration. The company portfolio includes mobile payments, ancillary cannabis services, blockchain solutions and renewable energies. Through acquisitions into horizontal markets, SinglePoint is building its portfolio by acquiring an interest in undervalued companies, thereby providing a rich, diversified holding base. Through SingleSeed, the company is providing products and services to the cannabis and hemp industry.
Forward-Looking Statements Certain statements in this news release may contain forward-looking information within 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. All statements, other than statements of fact, included in this release, including, without limitation, statements regarding potential future plans and objectives of the Company, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements.
Technical complications, which may arise, could prevent the prompt implementation of any strategically significant plan(s) outlined above. The Company undertakes no duty to revise or update any forward-looking statements to reflect events or circumstances after the date of this release.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/b22addca-347d-4740-a7c4-a4bf52827b9e