FEATURED: SinglePoint looks Ahead to 2019
SinglePoint (OTCQB:SING) a fully reporting technology company providing mobile payments, ancillary cannabis services and blockchain solutions looks ahead to 2019 to provide insight on how the company plans to utilize its 2018 momentum and carry forward into 2019. Recently the Senate and House signed the Farm Bill. SinglePoint management is actively adding Hemp products to the company’s subsidiary SingleSeed.com and will continue to build its presence in the Hemp product space. The company is expecting to top $1,000,000 for 2018 and expect to triple that in 2019 with additional acquisitions and continued growth of current portfolio companies.
With Hemp being a major growth point, SinglePoint has put a heavy push on is the company’s subsidiary SingleSeed which is distributing CBD products derived from hemp via the website SingleSeed.com. In 2018 the company added multiple product listing and has been organically increasing 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.”
“We are excited about the opportunity to be in the distribution space for CBD products, I took a distribution company public on the NASDAQ in 1996. I believe with the contacts and the massive opportunity in the market SinglePoint may be able to break in to the big box stores once the Farm Bill passes and the exact rulings shake out. We will also be looking hard to acquisitions to help us get into these stores more quickly,” states Greg Lambrecht CEO SinglePoint.
SinglePoint is aiming to be a large distributor in the space with a large online presence as well as having a retail distribution reach. The company has had great success with the CBD products and is adding additional funnels to drive more customers to the site for 2019. SinglePoint expects SingleSeed to be one of the top revenue producing subsidiaries in 2019. “We have seen a huge explosion in the CBD space and we are actively selling products through SingleSeed.com now. We are making a nice margin on the products and are seeing many new customers come to the site as we expand,” states Wil Ralston President SinglePoint.
Another portfolio company, DIGS, has continued to expand its footprint in the CBD space and is currently fulfilling many of the orders for SingleSeed.com. The company is also working on supplying bulk orders of CBD in crude and isolate forms. The company can white label many products and handle drop shipping for these products. For more information on the program and what products are available for white label please reach out to sales@SinglePoint.com.
DIGS has provided SinglePoint additional revenue as well as many contacts in the cannabis and CBD industries. It has been a successful venture for the company and SinglePoint plans to expand this entity through additional distribution points and tapping into the cultivation side of the industry which is seeing major growth as more states open and legalize cannabis.
Continuing in the cannabis space SinglePoint invested in Jacksam DBA Convectium. Jacksam recently went public and as of 12/3/18 has a market capitalization of approximately $80,000,000. SinglePoint currently owns approximately 9% of the company.
These are the types of businesses SinglePoint has been working to invest in or acquire. The opportunity for the exponential growth in the cannabis industry is prevalent and SinglePoint hopes to have more than one winner in its portfolio.
For more information please reach out to Investors@SinglePoint.com
This episode is brought to you via Stock Wave - a production company that provides audio & video services to variety of clients. Stock Wave may have been compensated for the production of this audio service.
In trading, there can be no assurance that any prior successes or past results as to income earnings can be used as an indication of future success or results. Audio/video services by Stock Wave are for informational purposes only and do not purport to be a complete study of the featured company or other companies mentioned. Information used and statements of fact have been obtained from the featured company and other sources, but not verified nor guaranteed by Stock Wave, as to completeness or accuracy.
Listeners are advised to use caution and seek the advice of qualified professionals before acting on any information provided by Stock Wave’s audio/video services. Listeners are also advised to perform their own due diligence when it comes to making investment decisions.