SinglePoint Diversifies Operations & Cleans Up Financials


Ryan Allway

February 14th, 2017

News, Top News


SinglePoint Inc. (OTC Pink: SING) recently announced a new pending acquisition in the cannabis industry and financial changes that could unlock significant value for shareholders. With these near-term catalysts in place, cannabis investors may want to take a closer look at the company as it ramps up its growth strategy in 2017 and beyond. The company is positioning itself as a significant player in the B2B technology side of the burgeoning cannabis industry.

In this article, we will take a closer look at the company’s diversification into new businesses and its financial improvements aimed at supporting future growth.

Diversified Canna Tech

SinglePoint recently signed a Letter of Intent to acquire an interest in a profitable California-based provider of equipment, branding, and packaging solutions for the cannabis industry. Under the terms of the deal, the company will pay cash and stock consideration totaling $800,000 for an unspecified stake in the private company.

Jacksam Corp., dba Convectium, developed the world’s first cartridge and vape pen oil filling machine for wholesale distribution to dispensaries. The 710Shark and 710Seal systems can fill and package over 100 cartridges or disposable vape pens in 30 seconds and are sold to dispensaries through its EquipCanna.com brand. The company also operates a consumer brand that includes BlackoutX and HazeSticks and reaches customers in over 52 countries.

Jacksam anticipates that its revenue will increase 150% year-over-year to $3.5 million while generating an unspecific profit. If successfully executed, the transaction will provide SinglePoint shareholders with their first revenue and net income since its existing operations remain in development stages. The exact impact of the acquisition won’t be apparent, however, until the company reports consolidated financial statements during the third of fourth quarters.

Improving Financials

SinglePoint recently announced that it became debt-free in conjunction with raising more than $300,000 and signing a Letter of Intent to secure an additional $1 million in funding. The move provides management with ample capital to execute its business plan, while avoiding debt repayments that can eat into cash flow and reduce flexibility over time. It’s also a rare development for a development-stage company in the cannabis industry.

The company also plans to uplist to the OTCQB and become a fully-reporting company during the current fiscal year. By doing so, the company aims to increase transparency and attract a greater number of larger investors to the stock. Existing investors could benefit from increased liquidity and potentially a higher share price, while the company benefits from easier access to capital needed to finance its growth over the coming years.

“The elimination of debt is on par with our growth strategy for 2017, which also calls for additional funding to become a fully reporting OTC company, and to acquire high-potential opportunities in the cannabis industry and technology markets,” said SinglePoint CEO Greg Lambrecht in a recent press release that announced the new acquisition and financial restructuring. “[This] marks a significant milestone in our corporate history.”

Looking Ahead

SinglePoint Inc. (OTC Pink: SING) represents a compelling opportunity within the multi-billion-dollar cannabis industry. With the potential acquisition of a profitable and growing B2B provider and new financing in place, the company is well-positioned to take advantage of the industry’s significant projected growth over the coming years.

For more information, visit the company’s website or the CannabisFN company profile.

This article was published by CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, the industry’s leading agency and digital financial media network dedicated to the burgeoning CBD and legal cannabis industries. Call +1 (833) 420-CNFN for more information.

About Ryan Allway

Mr. Allway has over a decade of experience in the financial markets as both a private investor and financial journalist. He has been actively involved in the cannabis industry since its inception, covering public and private companies.


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