SinglePoint Looks Ahead to 2019 Highlighting Company Direction and Acquisitions
SinglePoint (OTCQB:SING) a fully reporting technology company providing mobile payments, ancillary cannabis services and blockchain solutions prepares for 2019 and provides insight to company direction as well as acquisitions that the company will pursue. Additionally, the company provides insight to previous acquisitions it has completed and the successes of those to date.
Most recently the company has had major success in its industrial hemp CBD related initiatives. SingleSeed.com a subsidiary of SinglePoint has steadily increased volume of orders which the company believes will be a major component of increased revenue in 2019. This week the company has been optimizing different landing pages and utilizing tools such a heat maps and A/B testing to target site visitors overall experience to refine and work on increasing conversion as well as site visits. SingleSeed will also continue to add new products and plans to add CBD for pets in the near future.
The Hemp Business Journal estimates the industrial hemp CBD market totaled approximately $190 million last year, a brand new category that didn’t even exist a few years ago. By 2022, the Brightfield Group, a cannabis and CBD market research firm, says sales are expected to reach $22 billion. Making this possible is the passing of 2018 farm bill; the measure amended the term “marihuana” to exempt hemp so long as it has no more the .3 percent THC, as a controlled substance.
In addition to the success of SingleSeed, SinglePoint has invested in TorusMed a company working to develop CBD using photobioreactors. This process would significantly reduce cost and time of producing specific strains extracted from industrial hemp. The goal of the project is to ultimately have CBD that is pharmaceutical grade and cultivated in lab settings to ensure consistency. This project has the opportunity to change the way industrial hemp and CBD are manufactured. Working with leading researchers and industry leaders SinglePoint believe this will pan out to be a very good investment for the company. SinglePoint has previously been successful in these types of investments such as Jacksam which SinglePoint has approximately 10% ownership in with the company currently valued at approximately $120,680,778 as of 1-9-2019.
SinglePoint management will continue to look for new acquisitions and investment opportunities. To date the company is in discussions with potential opportunities that will drive revenue and solidify SinglePoint position in the industrial hemp CBD market. These opportunities include producing industrial hemp, manufacturing products as well as distribution. To bolster distribution SinglePoint will be attending expo’s this year to align distribution deals and build out account growth distributing the products currently available on SingleSeed.com. The company has also started to build out a sales team to target convenience store owners, vape shops, liquor stores and more to sell products directly into these accounts.
While the company has high hopes and big plans for the CBD market and the potential growth, it has continued to build upon initiatives that were already set in place.
Previous acquisitions such as ShieldSaver and DIGS continue to grow and provide opportunities for SinglePoint to expand. ShieldSaver has completed its first mobile application to support the company’s efforts. In January the company will launch the service in Sacremento International Airport as well as WallyPark at Denver International Airport. ShieldSaver has many companies in the pipeline to continue growth. The agreement with WallyPark and Sacramento will serve as baselines to the additional opportunities. “ShieldSaver has a massive opportunity to exponentially grow as it provides major value to both customers and the lot owners using our service. We have first mover advantage to take this trojan horse into major account through the US and Internationally as we expand,” states Dan Shikiar ShieldSaver founder.
Driving these opportunities has been the ability for SinglePoint to raise capital on terms beneficial to the company. Having become fully reporting almost one year ago SinglePoint management has been able to facilitate new funding on terms more favorable to the company. Recently SinglePoint signed a deal to raise up to $5,000,000. Along with these acquisitions that bolster revenue and profit the company may have the opportunity to continue improving funding opportunities to drive is acquisition strategy. Quote, “2019 will be a banner year for SinglePoint we are equipped with the proper funding, partners and opportunities to be firing on all cylinders. We as a team expect to position SingleSeed and SinglePoint as market leads in the CBD market while continuing to enable to founders of the companies we have acquired grow their businesses. We are well diversified and have large opportunities across many emerging markets that should enable us to be successful into 2019 and beyond,” end quote, states Greg Lambrecht CEO SinglePoint.
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