SinglePoint, Inc. (OTCQB: SING) recently announced that it is expecting record revenue exceeding $1 million by the end of 2018 (http://cnw.fm/0E1uu). In its annual recap, the mobile payment solutions and ancillary cannabis services/blockchain solutions enterprise also voiced expectations that the growth is to triple in 2019 through additional acquisitions and the expansion of the SinglePoint portfolio.
In its annual recap, SinglePoint announced that subsidiary SingleSeed.com is one of the primary areas of focus for the coming year. Throughout 2018, the ecommerce channel had multiple new products added, enabling an organic increase in the website’s reach.
For 2019 and the years beyond, SinglePoint is going to attempt to become a large distributor, both through its online presence and through retail distribution reach. The experience with CBD products so far has been quite positive, which is why additional funnels will be utilized in 2019 to increase the number of online customers.
In 2019, SingleSeed.com is expected to become one of the top revenue-producing subsidiaries of SinglePoint. “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,” SinglePoint president Wil Ralston said in a news release.
The company expects additional profit from its recent agreement with TorusMed Inc., a subsidiary of PetroSun Inc. (OTC: PSUD). The aim of the agreement, announced at the end of November, is to distribute the company’s CBD products via SinglePoint subsidiaries and ecommerce channels SingleSeed.com and DIGSHydro.com. The line of product to be made available via the SinglePoint ecommerce network will include Sport Relief Topical Cream – a non-detect THC product for both amateur and professional athletes.
“We are excited to add TorusMeds’ line of CBD products. We have met the team and seen the glowing reviews from TorusMed customers. We believe TorusMed and their suite of products will provide additional revenue for SinglePoint,” Ralston said in a news release (http://cnw.fm/89pLB).
The annual recap also focused on the various businesses that SinglePoint acquired in 2018 and the products it launched as a part of the expansion strategy.
The development of Last Mile Delivery was a major milestone. The app was created for the needs of cannabis industry delivery companies that want to track shipments and provide clients with real-time information. The system was built to meet cannabis delivery guidelines within the U.S. In addition, Last Mile Delivery makes it easier for end customers to find nearby dispensaries and place orders.
In 2018, SinglePoint also invested in Jacksam DBA Convectium (OTC: JKSM), a company that went public in early December. SinglePoint acquired approximately nine percent of Jacksam, an entity with market capitalization of about $80 million.
SinglePoint is also counting on the expansion of DIGSHydro.com. Currently, DIGS is fulfilling many of the SingleSeed orders, and it is supplying bulk orders of CBD. DIGS can whitenumerous products and provide drop shipping for them, as well.
As part of the annual recap, SinglePoint officials said that they’re working on two future acquisitions. Acquisitions will be a primary goal throughout 2019, providing new revenue growth opportunities and solidifying the SinglePoint financial structure.
For more information, visit the company’s website at www.SinglePoint.com
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