SinglePoint Draws Investor Attention as Near-term Catalysts Approach
Ryan Allway
April 17th, 2017
News, Top News
SinglePoint Inc. (OTC Pink: SING) has made tremendous progress in growing its business over the past several months. In mid-March, the company closed the first round of funding to acquire a portion of Convectium, the developer of a unique oil filling system poised to revolutionize the cannabis industry. With projected FY2017 revenue of $3.5 million.
In this article, we will take a look at how this progress has increased its media attention and some near-term catalysts that investors should watch.
Growing Media Exposure
Singlepoint recently announced the soft launch of its newly-designed website, which provides investors with easier access to e-mail alerts, tear-sheets, and other information. With investor interest on the rise, the new website should help better engage investors, cultivate shareholders, and increase liquidity and transparency over the long-term.
The company has also seen a dramatic increase in media exposure over the past several weeks. For example, CEO Greg Lambrecht was quoted in a recent Forbes article discussing President Trump’s impact on the cannabis industry.
“The current administration has made it very clear they would like to empower the states and Trump has even stated his belief in how medical marijuana can help people. We believe the administration will stick to their word on empowering the states. In Phoenix we have many medical shops, none of which have relayed to us that they are being impacted yet by the administration. The biggest impact the current administration can have in favor of cannabis in the near term would be to give guidelines on how this business can be banked.” – Greg Lambrecht via Forbes
The company has also been featured by NetworkNewswire, which published an article discussing investment options within the cannabis industry. In the article, NNW discusses why SinglePoint represents an attractive opportunity relative to other companies in the space.
“The possibilities and opportunities are virtually endless within the legalized marijuana market. The business plan of one innovative company, SinglePoint (SING), doesn’t involve actual contact with marijuana plants but rather focuses on providing services to the marijuana industry … For instance, through its SingleSeed subsidiary, SinglePoint is positioned to offer payment solutions to the cannabis industry. Mobile marketing and payment solutions offered through SingleSeed include cashless ATM, Pay-by-Text™ and text message marketing. While medical marijuana often takes center stage in discussions pertaining to legalization, the power cord for any marijuana business is the ability to conduct financial transactions in what — for the time being — is largely an ‘unbankable’ industry.”
Near-term Catalysts Ahead
SinglePoint CEO Greg Lambrecht has made several appearances on Donald Baillargeon’s MoneyTV program, where he has discussed the company’s recent developments and upcoming plans for the coming months.
In the most recent episode, Mr. Lambrecht indicated that the company expects to announce a new joint venture and acquisition over the coming weeks, which could bring the company’s stock price up to a new plateau above its past 5-6 cent range.
The company could also begin reporting more significant revenue following its acquisition of a stake in Convectium, which is a revenue-generating company that expects to reach $3.5 million in sales during FY2017 – an increase of 150% over its FY2016 revenue. These strong growth rates could also pave the way for further revenue growth in FY2018 and beyond as cannabis brands embrace its innovative oil filling machines.
“We have evaluated numerous investment prospects in the cannabis space, and found there is nothing that compares to this opportunity we have with Convectium,” said Mr. Lambrecht when the acquisition was announced. “With this transaction, we will acquire a stake in a cannabis business that never touches a marijuana plant. This is the strategy we will use as we move forward to hedge us against changing federal and state laws.”
Looking Ahead
SinglePoint Inc. (OTC Pink: SING) represents a compelling investment opportunity within the cannabis industry. With its hands-off approach to the cannabis plant, the company provides investors with a safer bet on a rapidly growing industry. The company’s new website, growing media presence, and near-term catalysts mean that investors interested in the space may want to take a look at the stock sooner rather than later.
For more information, visit the company’s website or CannabisFN’s 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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