#Cannabis / #Solar Stock
News: SinglePoint (OTCQB: $SING) Reports Record Third Quarter 2019 Financial
Results; @_SinglePoint_
Company Expects Significant Growth in its #Solar
and #Hemp Businesses
PHOENIX - November 13, 2019 (Investorideas.com
Newswire) SinglePoint Inc. (OTCQB:SING), (the "Company"), a leading technology and acquisition
company focused on making continued strategic acquisitions and investments in
companies operating in high growth areas, announced its financial results for
the third quarter ended September 30th, 2019. The Company reported revenues of
$1,050,374 for the three months ended September 30, 2019, a 176% increase over
the same period in 2018.
The Company's most recent acquisition, Direct
Solar, continues to exceed revenue growth targets and has been pivotal to
improving the Company's financials.
Read this in full at https://www.investorideas.com/CO/SING/news/2019/11131RecordQ3.asp
Third Quarter 2019 Unaudited Financial Performance
Highlights:
Revenues of $1,050,374
Cash on hand $294,062
Gross Profit $525,891
Third Quarter 2019 Unaudited Financial Performance
Summary: (comparisons to prior year period):
Total revenues were $1,050,374 compared to
$381,037;
Gross profit was $525,891 compared to $75,353;
Nine Months 2019 Unaudited Financial Performance
Summary: (comparisons to prior year period)
Total revenues were $2,170,123 compared to
$881,157;
Gross profit was $559,729 compared to $229,017;
"This has been a great quarter for
SinglePoint, we are very excited to see the growth of the company. We are
establishing solid financials and we anticipate a big fourth quarter.
Everything is firing on all cylinders and we continue to hit our numbers. We
believe SinglePoint's revenues will continue to grow as our subsidiary Direct
Solar expanded into new markets," states Greg Lambrecht CEO SinglePoint.
According to VP of Sales Don Smith, "Initial
response to the ‘Pure American Hemp Cigarette' has been overwhelming. After a
successful launch at the National Association of Convenience Stores Show in
October 2019, we have shipped multiple orders to both distribution and retail
clients. SinglePoint is launching our newest smokable hemp-based product -
'ORIGINAL 1606 HEMP.' To capitalize on the increasing demand for these products
we will continue to expand our product line, strengthen our manufacturing
capacity and grow our global distribution channels in efforts to become the
premier brand in this category".
About SinglePoint, Inc.
SinglePoint Inc (SING) is a technology and
acquisition company with a focus on acquiring companies that will benefit from
management, capital and technology integration. Our portfolio includes mobile
payments, industrial hemp and renewable energy solutions. Through acquisitions
into horizontal markets, we are building our portfolio by acquiring an interest
in undervalued companies, thereby providing a rich, diversified holding base.
Through SingleSeed, we providing
products and services to the cannabis industry.
Connect on social media at:
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,
including but not limited to the growth of our solar operations and hemp based
products 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.
Unforeseen 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.
SinglePoint Inc.
855-711-2009
investors@SinglePoint.com
SinglePoint.com
855-711-2009
investors@SinglePoint.com
SinglePoint.com
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