Singlepoint, Inc. (OTCQB: SING) News - September 12, 2018
Gambling and Tech Companies Charge into American Sports Betting Market
New York, NY – September 12, 2018 –
NetworkNewsWire.com News
Coverage: A recent change in United States law has led to a gold rush
in the gaming industry as numerous companies scramble to set up sports gambling
operations.
-
The U.S. Supreme Court’s overruling of 1992 gambling
legislation essentially makes sports betting widely legal throughout the
country.
-
Casinos are moving to make the most of this by opening
sports books.
-
Technology companies are also exploring possible revenue
avenues through online gambling apps.
-
The United States is set to see a $3–$5 billion take in the
global sports betting market within a few years — a market already worth an
estimated $40 billion.
One of the new players in the sports gambling space is
SinglePoint, Inc. (OTCQB:SING), a tech company focused on
 innovation
that has invested in gambling app
StakeHaul. In the world of big gambling, casino companies such as Caesars
Entertainment Corp. (NASDAQ:CZR) are exploring ways to add sports gambling
to their existing entertainment rosters.
MGM Resorts International (NYSE:MGM) already provides sports gaming
alongside traditional betting options. Following suit, Penn National Gaming,
Inc. (NASDAQ:PENN) has started offering sports betting at some of its
casinos, as has Boyd Gaming Corp. (NYSE: BYD), which is also entering the
online gambling space.
To view an infographic of this editorial,
click here.
The Race to Benefit from Sports Betting
From soccer in Europe to cricket in India, people enjoy
betting on the outcome of sports competitions. In fact, sports betting is one of
the most popular forms of gambling in the world, producing an estimated $40
billion global industry that includes local bookmakers to national brands to
international betting websites.
In the United States, this type of betting has been extremely limited since the
early 1990s. Legislation designed to protect people from the harmful effects of
gambling effectively made betting on sports illegal across the country, with
limited exceptions in a handful of states.
The recent overturning of this law has suddenly created a new market. Because
that market hasn’t existed for the past 25 years, the renewed interest has
revealed an infrastructural void in the American gaming industry. Technological
innovation s
have not been applied to sports gambling, so companies are now playing catch up.
The results will shape an industry estimated to be worth billions of dollars
every year.
The Death and Life of U.S. Sports Gambling
This year is seeing a number of gambling companies expand
their operations to include sports betting while tech companies such as
SinglePoint, Inc. (OTCQB:SING) are looking at what they can do to
fill a commercial void. But how did this gap in the gambling market come about
in the first place?
The Professional and Amateur Sports Protection Act (PASPA) was passed by the
U.S. Congress in 1992. It effectively outlawed betting on sports across the
United States, with limited exceptions, including specific forms of racing;
sports lotteries in Delaware, Montana and Oregon; and licensed pools in Nevada.
The law quickly became an unpopular one. By 2017, a
majority of Americans reportedly wanted to see sports betting legalized so
they could join in a pastime enjoyed by millions around the world. Several
attempts were made to overturn the law, eventually resulting in a legal case
being heard before the Supreme Court. In May, the court overturned PASPA,
declaring that the law violated the 10th Constitutional Amendment.
The sports betting market was already growing around the world. Because of the
nature of the business and the lack of centrally collected figures, it’s
impossible to accurately measure its worth, but it was estimated at around $40
billion in 2016. And now, America is expected to become a significant growth
area,
worth an estimated $3 billion to $5 billion within the next five years.
That’s a lot of money. So how does a company such as SinglePoint go about
getting a piece of the acton?
Gambling on Technology
The key to this market, like so many others, lies in online interactions and
mobile technology in particular. By bringing gambling first into customers’
homes and then into their pockets, tech-savvy gambling companies have vastly
increased the opportunity to make small, casual bets.
One of the products that has sprung from this is StakeHaul. A mobile gambling
platform, StakeHaul allows users to bet on anything. Whether it’s a traditional
test of machismo such as who can do the most pull-ups, a motivational bet on who
will complete a chore first, or even a gamble on the outcome of world events,
StakeHaul can make it happen. And with sports betting now apparently legal in
the United States, StakeHaul can include that too.
StakeHaul makes it easy to carry out the sort of casual bets traditionally
placed in person. The stakes need be nothing more than the honor of knowing who
won, although they can just as easily be financial. The company is currently
finalizing a peer-to-peer payment model that can pay out in either U.S. dollars
or cryptocurrency. With internet native currencies on the rise, it makes sense
for an online gambling system to recognize those types of transactions.
With more than 70,000 downloads, StakeHaul is currently the top-ranked app for
making bets with friends — and those numbers are steadily increasing. Each month
has seen a double-digit percentage rise in active users and bets placed through
the platform.
With more than a third of Americans betting on at least one
sports event every year, there are plenty of people looking to make the most of
the newly loosened laws, and StakeHaul provides a way to do that. “All in all,
our unique features, our ease of use, and the legal momentum behind betting in
the U.S. makes our opportunity not just a home run but a grand slam,” stated
Jeffery Lippert, founder of StakeHaul.
Investing in the Future of Gambling
It’s not surprising then that tech company SinglePoint has made an investment in
StakeHaul.
Originally a full-service mobile technology provider, SinglePoint has evolved
into a company with an interest in a wide range of technologies. The
organization focuses on companies that have great potential and proven assets
currently believed to be undervalued on the market. By investing in such
companies, SinglePoint has developed a diverse portfolio of up-and-coming tech
companies.
Payment systems play a large part in SinglePoint’s holdings. The global payment
market is changing, with finance increasingly transacted online or with
smartphones.
SinglePoint’s payment processing systems are designed to deal with this new
world. It is also working to provide
cryptocurrency payment systems using Bitcoin and Ethereum, the leading
global cryptocurrencies. These are technologies that will fit well with the
financial side of the company’s investment in StakeHaul.
But it’s not all about electronic payment. SinglePoint has teamed up with New
Sun Energies to provide
cost effective solar power in six states. With interests in blockchain,
renewable energy and the sports betting market, the company has investments in
several sectors that are due to see considerable growth over the next decade.
The Bigger Game Market
History shows that gambling can lead to big wins for a business. Caesars
Entertainment Corp. (NASDAQ:CZR) started off as a single bingo parlor in
1930s Nevada. Over the decades, it’s become the most famous name in gaming, with
47 casinos in five countries. Its buildings play host to conventions, meetings
and hundreds of thousands of tourists. The thrill of betting keeps the customers
coming through the doors of those casinos and has helped to build up a legendary
reputation as a place of decadence and entertainment, a reputation that also
helps explain the success of over 600 bars, restaurants and clubs across the
United States.
With its string of hotels and casinos, MGM Resorts International (NYSE:MGM)
has done a job similar to Caesars’ in turning the pleasure of gambling into a
multimillion-dollar entertainment empire. Even before PASPA was struck down, MGM
was profiting from sports betting as well as traditional gambling, thanks to the
popularity of its venues. Hosting events such as
world-class boxing matches means not just ticket receipts but also a flood
of fans using the hotels and their facilities.
Penn National Gaming, Inc. (NASDAQ:PENN) might not have the glamor of the
big names, but the company is still a very successful operator in the American
gambling sector. It has gaming, racing and video gaming terminals spread across
29 facilities in the United States and Canada, with a focus on slot machines.
The recent legal change is creating more options, and the company
recently started offering sports betting at Hollywood Casino at Charles Town
Races in West Virginia.
One of the largest casino companies in the United States,
Boyd Gaming Corp. (NYSE:BYD) has 24 gaming properties spread across seven
states. The company runs 10 sports betting operations across Nevada and has
recently opened sports books at two of its Mississippi properties. It has also
teamed up with FanDuel Group to engage in online betting and sports gaming
opportunities across the country.
The overturning of PASPA is set to transform the American gambling industry.
Both online and in casinos, sports gambling is taking off in a big way. Early
adopter companies are set to benefit enormously from this change.
For more information about SinglePoint, please visit
SinglePoint, Inc. (OTCQB:SING).
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SinglePoint Successfully Files Form 10 in Route to Become Fully Reporting
SEATTLE, WA– June 18, 2018 – SinglePoint, Inc. (OTCQB: SING)
is pleased to announce the successful completion and filing of the company’s
Form 10 Registration Statement with the Securities and Exchange Commission. This
is an important
step in helping the company establish credibility in the investment community.
“We are ecstatic to have this completed and filed. We feel it really sets the
company up for future successes. It’s a great foundational block to be fully
reporting and provide the level of transparency to everyone that may become
involved with the company. We believe that his level of transparency can
accelerate our potential growth,” states Wil Ralston President SinglePoint.
About SinglePoint, Inc.
SinglePoint, Inc (SING) is a technology and investment company with a focus on
acquiring companies that will benefit from our management, potential injection
of growth capital and technology integration. The company portfolio includes
mobile payments, ancillary cannabis services and blockchain solutions. Through
acquisitions into horizontal markets, SinglePoint is building its portfolio by
acquiring an interest in undervalued companies, thereby providing a rich,
diversified holding base. Through its subsidiary company SingleSeed, the company
is providing products and services to the cannabis industry.
Connect on social media at:
https://www.facebook.com/SinglePointMobile
https://twitter.com/_SinglePoint
https://www.linkedin.com/company/singlepoint
For more information visit:
www.SinglePoint.com
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 the effects
of filing the Form 10 with the SEC, potential future plans and objectives of the
Company, 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.
Technical 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.
Corporate Communication
SinglePoint Inc.
855-711-2009
info@SinglePoint.com
SinglePoint.com
Source: SinglePoint, Inc.
SinglePoint Completes
Commercial for Bitcoin Wallet Featuring Original Shark Tank Member Kevin
Harrington and Provides Update on Form 10
SEATTLE, WA– June 06, 2018 – SinglePoint, Inc. (OTCQB: SING)
is pleased to announce the company has completed production of their crypto
wallet application commercial featuring original Shark Tank member Kevin
Harrington. The next step for the company will be to receive approvals from the
major national networks. SinglePoint has four spots ranging from 15 second to
two minutes. Here is the company’s sneak peek at the 15 second clip,
CLICK HERE to watch.
“We are very excited to have this project reach the ultimate goal of getting
national air time. We have already been pre-approved on one national network and
will now send the commercial spots to others for approval as well. We are
confident that this will drive many users to the platform as we will provide an
educational document and help those interested in bitcoin and crypto become more
familiar and comfortable with it,” states Wil Ralston, President of SinglePoint.
Management is pleased to have this completed and ready to launch. Once the
application is officially launched into production the company will be able to
air the commercial across the major networks.
SinglePoint has internally completed the Form 10 and is now under review by the
company’s auditors. Once completed the Form 10 will be edgarized and officially
submitted for review. Upon becoming effective management is confident this will
open the doors for institutional and family offices to invest directly and
through the open market. Becoming fully reporting should provide the company
with more transparency, increased liquidity and value for its shareholders.
Additionally, this move will help the company complete additional acquisitions
and in-house developments.
For updates and more information please sign up for our email update at
SinglePoint.com
About SinglePoint, Inc.
SinglePoint, Inc (SING) is a technology and investment company with a focus on
acquiring companies that will benefit from the injection of growth capital and
technology integration. The company portfolio includes mobile payments,
ancillary cannabis services and blockchain solutions. Through acquisitions into
horizontal markets, SinglePoint is building its portfolio by acquiring an
interest in undervalued companies, thereby providing a rich, diversified holding
base. Through its subsidiary company SingleSeed, the company is providing
products and services to the cannabis industry.
Connect on social media at:
https://www.facebook.com/SinglePointMobile
https://twitter.com/_SinglePoint
https://www.linkedin.com/company/singlepoint
For more information visit: www.SinglePoint.com
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, 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.
Technical 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.
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Source: SinglePoint, Inc.
Supreme Court Decision Empowers States to Take Action on Sports Betting
New York, NY – March 24, 2018 –
NetworkNewsWire.com News
Coverage: This month the Supreme Court issued a decision striking down
a 1992 federal law banning commercials sports betting in 46 states. In one fell
swoop, the 6-3 decision swung open the door for individual states to decide for
themselves whether to allow sports betting within state
boundaries.
The decision, which may mean legalizing the estimated $150 billion in illegal
wagers on professional and amateur sports that Americans make every year
(http://nnw.fm/g6LGx), also has massive impact on sport betting organizations
such as
SinglePoint, Inc. (OTCQB:SING), which has been in the daily fantasy
sports arena since March 2016. Other companies that stand to benefit from this
milestone ruling include Caesars Entertainment Corporation (NASDAQ:CZR), MGM
Resorts International (NYSE:MGM), Penn National Gaming Inc. (NASDAQ:PENN) and
Boyd Gaming Corporation (NYSE:BYD)
Gross Gaming Revenues Could Hit Billions
The overturned law — the Professional and Amateur Sports Protection Act —
prohibited states from authorizing sports gambling on the outcome of sports
events. One of the law’s sponsors, Senator Bill Bradley and a former college and
professional basketball star, claimed the regulation was needed to safeguard the
integrity of sports. However, the court ruled that the law was unconstitutional.
“It is as if federal officers were installed in state legislative chambers and
were armed with the authority to stop legislators from voting on any offending
proposals,” Justice Samuel A. Alito Jr. said, writing for the majority. “A more
direct affront to state sovereignty is not easy to imagine.”
The ruling was met with enthusiasm by those in the gambling and casino
industries, including
SinglePoint, Inc. (OTCQB:SING), a technology company with a focus on
acquiring companies that will benefit from the injection of growth capital and
technology integration. One analyst predicted the industry's gross gaming
revenue from sports betting could rise to $5 to $10 billion in five years and
noted that gaming technology providers may also have an incremental $250 million
to $1 billion annual sales opportunity from the trend (http://nnw.fm/IoAE5).
Entering the Social Betting World
SinglePoint has been in the daily fantasy sports arena since March 2016, when
the company invested in GoDraft and DraftFury. Following this month’s Supreme
Court ruling, the company announced it had invested in an additional betting
platform, StakeHaul, the No. 1 social betting app in the iTunes App Store
(http://nnw.fm/d4Yht). SinglePoint plans to work closely with StakeHaul, which
focuses on peer-to-peer social betting, to establish a strong position in the
$150 billion betting industry, SinglePoint already provides a payments option,
and the two companies are working to define the use of smart contracts within
the application. Smart contracts facilitate the exchange of money, property,
shares, or anything of value in a transparent, conflict-free way while avoiding
the services of a middleman (http://nnw.fm/fNS6B).
Until now, the social betting market has been ruled by DraftKings and FanDuel.
Even before the Supreme Court decision, SinglePoint saw an opportunity to enter
— and make a sizeable dent — in the huge social betting market through its
investment in StakeHaul. Dubbed as the social wagering for the next generation,
StakeHaul allows players to easily challenge their friends to games of skill or
even be a third-party judge between mutual friends. Users can wager their
hard-earned cash or even a night out on the town.
SinglePoint will work collaboratively with StakeHaul to help facilitate the
opportunity of using SinglePoint’s crypto-based payment solution within the
application. Having the ability to transact in crypto payments provides
SinglePoint another avenue to jumpstart users transacting with bitcoin.
Opening the DFS Realm
In addition to its efforts with StakeHaul,
SinglePoint, Inc. (OTCQB:SING) will also be leveraging its investments
in GoDraft and DraftFury, which now become more viable opportunities for the
acquisitions company. In 2016, SinglePoint acquired an ownership stake in
GoDraft.com, a Daily Fantasy Sports (DFS) enterprise featuring "one of the most
powerful Daily Fantasy Sports gameplay systems on the planet" (http://nnw.fm/qJb3K).
Using GoDraft, players have an opportunity to win cash daily in the NFL, NBA,
MLB and PGA. The system also features a referral program that rewards players
with cash and credit.
At the time of the acquisition, SinglePoint CEO Greg Lambrecht noted that
“GoDraft is an ideal candidate with excellent growth potential. There are
2,000-plus unique members, and they also have the only friends and private
league features in the daily fantasy sports industry today, allowing you to play
against people you know easier than ever before.”
SinglePoint is one of the few publicly traded companies in the United States
that allows shareholders to be involved in the DFS realm, and the GoDraft
acquisition marked the first in SinglePoint's DFS rollup initiative. “With
nearly 57 million people in the USA and Canada participating in fantasy sports
last year, demand for participation in DFS is on the rise,” Lambrecht noted.
Huge Growth Potential
Also in 2016, SinglePoint announced that it had finalized an acquisition deal
for interest in DraftFury. DraftFury has a unique seven-level referral program
and an optimized interface that provides a superior gaming experience for users.
With a valuation of $8 million and recognized as the first cash-flow positive
DFS enterprise, DraftFury offers daily, skill-based fantasy contests for the
NBA, NFL and MLB.
The system is known for its innovative offerings, and players have credited it
for originality among other platforms. A case in point is the system’s Fury
Arena, which uses DraftFury's proprietary algorithm to match players of similar
skill level so that players have a chance to win regardless of ability or skill.
With new regulations now in place, SinglePoint looks to these acquisitions to
resume their tremendous trajectories as states throughout the nation move to
legalize sports betting. “We have placed the company into multiple emerging
markets that have huge growth potential,” states SinglePoint President Wil
Ralston. “While we will continue to focus on cannabis and blockchain
opportunities, we are excited that the Supreme Court has ruled in favor of
sports betting legalization, giving the companies we have a stake in the
opportunity to compete with the industry leaders again. We will continue to look
for opportunity in the newly legalized sports betting arena.”
Eyeing the Potential Opportunities
SinglePoint isn’t the only organization intent on leveraging the Supreme Court
decision and making the most of the lucrative opportunities now available in
sports betting.
Caesars Entertainment Corporation (NASDAQ: CZR) applauded the Supreme Court
decision as well. Caesars currently has licensed gaming operations in 13 states
and manages a successful legal sports wagering business in Nevada. In wake of
the ruling, the company plans to expand its U.S. sports betting business
wherever secure and responsible wagering on sporting events is legalized. "The
Supreme Court's landmark PASPA ruling creates a golden opportunity to end
illegal sports wagering once and for all by creating a well-regulated
alternative that sports fans can trust,” commented the company’s president and
CEO, Mark Frissora (http://nnw.fm/mo8Tq). “Caesars is a leader in legalized
gaming in the U.S. As a result, we expect to be able to provide safe, exciting
sports wagering experiences to consumers across the country, as we do today in
Nevada. We plan to announce our specific approach to this business as we better
understand the opportunities and regulations which evolve from today's Supreme
Court decision."
MGM Resorts International (NYSE: MGM) also commented on the Supreme Court
ruling. A May 14 press released notes that "MGM Resorts International applauds
the Court's decision to allow states the opportunity to protect consumers and
benefit the public by regulating and taxing sports betting (http://nnw.fm/hwH4t).”
The release stated that the company looks forward to working with legislators
and policymakers to achieve a regulatory outcome that benefits states and
consumers alike while ensuring the integrity of sports. IN a follow-up interview
(http://nnw.fm/C0P3a) MGM CEO Jim Murren stated that the company has been
waiting and planning for the day the U.S. Supreme Court allowed sports betting.
"We have already established the architecture to deploy sports betting as soon
as the states allow us to do that," he said. "We have already the software. We
have our mobile app called PlayMGM that is already activated in Nevada."
Penn National Gaming Inc. (NASDAQ: PENN) owns, operates or has ownership
interests in gaming and racing facilities and video gaming terminal operations
with a focus on slot machine entertainment. In addition, the company is in the
process of acquiring Pinnacle Entertainment for $2.8 billion in cash and stock,
a deal which will add another 12 properties to its collection. Following the
acquisition of Pinnacle and the planned divestiture of four of its properties to
avoid regulatory challenges, Penn National will have significantly greater
operational and geographic diversity and operate a combined 41 properties in 20
jurisdictions throughout North America (http://nnw.fm/ziV7I).
Boyd Gaming Corporation (NYSE: BYD) is a leading geographically diversified
operator of 24 gaming entertainment properties in seven states. Boyd currently
operates 1.36 million square feet of casino space, more than 30,000 gaming
machines, 630 table games, 9,400 hotel rooms and more than 280 food and beverage
outlets. This month the company announced that it had entered into a definitive
agreement to acquire Lattner Entertainment Group, which currently operates
nearly 1,000 gaming units in 220 locations across the state of Illinois. With
one of the most experienced leadership teams in the casino industry, Boyd Gaming
prides itself on offering its guests an outstanding entertainment experience,
delivered with unwavering attention to customer service.
Knowing that the nation’s highest court would be ruling on the case soon, savvy
gaming companies such as SinglePoint have been eyeing the potential entry points
and are prepared to move swiftly now that the decision has been handed down.
For more information on SinglePoint, please visit
SinglePoint, Inc. (OTCQB:SING)
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(5) a full array of corporate communications solutions, and (6) a total news
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extensive team of contributing journalists and writers, NNW is uniquely
positioned to best serve private and public companies that desire to reach a
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SinglePoint Subsidiary
ShieldSaver Inks Deal with CarFax; Continuing Expansion of Data Collection for
Automotive Blockchain Initiative
SEATTLE, WA– May 1, 2018 – SinglePoint, Inc. (OTCQB:
SING) subsidiary
ShieldSaver signs agreement with CarFax to provide detailed information directly
to CarFax while being able to pull data from the CarFax system to further
efficiencies within the ShieldSaver mobile application. ShieldSaver is building
relationships with industry leaders and rapidly expanding its presence across
the nation through relationships with international airport parking lot
management companies such as WallyPark and LAZ Parking.
ShieldSaver utilizes proprietary License Plate Recognition (LPR) technology to
collect large quantities of important automotive and consumer data. There are
many stakeholders that need access to this data; for instance, insurance
companies have an interest in knowing that a windshield was actually in need of
repair and that the repair was soundly completed. At the same time, much of the
data collected is private and should only be shared with parties that have a
legitimate need to access the data. As ShieldSaver expands its infrastructure,
SinglePoint will provide the expertise to begin storing data in a blockchain
based, distributed ledger with appropriate access controls to ensure that
parties who need access can retrieve it in the most secure and efficient manner.
“We are excited for this new relationship with CarFax, we believe there is a lot
of opportunity to expand the relationship with CarFax. They are a fantastic
company, the absolute leader in their space and we look forward to a long,
synergistic relationship,” states Wil Ralston President SinglePoint.
SinglePoint recently completed the acquisition of ShieldSaver and with the
capital infusion the company has already grown to new levels and continues to
add value to SinglePoint through IP and revenue. The two companies are working
together and have started development of the automotive data collection
application that will ultimately tie into SinglePoint blockchain technology
developments.
About SinglePoint, Inc.
SinglePoint, Inc (SING) is a technology and investment company with a focus on
acquiring companies that will benefit from the injection of growth capital and
technology integration. The company portfolio includes mobile payments,
ancillary cannabis services and blockchain solutions. Through acquisitions into
horizontal markets, SinglePoint is building its portfolio by acquiring an
interest in undervalued companies, thereby providing a rich, diversified holding
base. Through its subsidiary company
SingleSeed, the company is providing products and services to the cannabis
industry.
Connect on social media at:
https://www.facebook.com/SinglePointMobile
https://twitter.com/_SinglePoint
https://www.linkedin.com/company/singlepoint
For more information visit:
www.SinglePoint.com
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, 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.
Technical 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.
Corporate Communications Contact:
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SOURCE: SinglePoint, Inc.
SinglePoint Continues
Expansion into Cannabis Industry as Proposed Legislation Favors Industry Growth
SEATTLE, WA– April 24, 2018 – SinglePoint, Inc. (OTCQB:
SING) announces the
latest development of its cannabis payment solutions platform alongside a flurry
of cannabis-related news released by members of various political parties over
the past week.
Since 2014 SinglePoint has been aggressively seeking opportunities in the
cannabis market. The company recently integrated a stand-alone point of sale
terminal designed to give merchants the ability to accept Bitcoin as a payment
option. Customers can now use their credit or debit card at the counter instead
of through a web-based app. SinglePoint’s push to streamline payment processes
and make the cannabis purchase experience no different than using a credit card
at any other store complements recent efforts by political leaders seeking
cannabis reform.
Former Speaker of the House Rep. John Boehner (R-Ohio), once an outspoken
cannabis antagonist, has now joined the board of a cannabis company with the
statement he believes cannabis should be de-scheduled so that medical studies
may begin. Colorado Republican Sen. Cory Gardner announced April 13 that
President Donald Trump promised he would support efforts to protect states that
have legalized marijuana. Most recently, Senate Minority Leader Chuck Schumer
(D-N.Y.) threw his weight behind legalizing marijuana and said he will soon be
introducing a bill to de-schedule the plant.
"The legislation is long overdue based on … a bunch of different facts," Schumer
said. “Ultimately, it is the right thing to do. Freedom. If smoking marijuana
doesn't hurt anybody else, why shouldn't we allow people to do it and not make
it criminal."
SinglePoint founder and CEO Greg Lambrecht hailed the positive political
messages and growing support for the cannabis industry.
“This is exactly what we have been waiting for and what the industry needs. As
we continue to develop solutions to help ease the banking issues, we welcome new
regulations that may make that easier such as de-scheduling the plant and
allowing banks to work with these businesses,” Lambrecht said. “That would allow
SinglePoint to offer all of our payment solutions to cannabis businesses.”
SinglePoint management believes cannabis-related businesses and all those
working within the industry will continue to grow and soon thrive under new
regulations. Public opinion polls show that 61 percent of respondents believe
cannabis should be legalized for adult use. Several top Democrats seen as
possible contenders in the 2020 presidential race are backing legislation to
de-schedule cannabis. The shift has marijuana activists and political operatives
believing many of the 2020 presidential candidates will support removing
cannabis from the Federal Substances Act.
Sen. Bernie Sanders (I-VT), a 2016 presidential candidate widely considered a
top contender for the nomination in 2020, signed onto The Marijuana Justice Act,
as did Sen. Kirsten Gillibrand (D-N.Y.), another possible 2020 hopeful. Proposed
by another potential 2020 presidential contender, Sen. Cory Booker (D-N.J.), the
Act would remove the drug from the federal Controlled Substances Act, voiding
the uncertainty the federal government injects into cannabusiness and
deconstructing the final barriers to national legalization.
SinglePoint’s streamlined payment process helps cannabis retailers, dispensaries
and consumers in several, important ways. Customers can preload their wallet
with their credit card information, which brings additional efficiencies in the
checkout process. A customer that preloads a wallet will simply be able to “send
payment” to the merchant for the amount requested at the register. Additionally,
SinglePoint is tying this payment into its Last Mile Delivery service. Delivery
clients will already have the application downloaded, which means that once an
order is placed the customer will be able to select a payment method and utilize
a stored card or cryptocurrency.
About SinglePoint, Inc.
SinglePoint, Inc (SING) is a technology and investment company with a focus on
acquiring companies that will benefit from the injection of growth capital and
technology integration. The company portfolio includes mobile payments,
ancillary cannabis services and blockchain solutions. Through acquisitions into
horizontal markets, SinglePoint is building its portfolio by acquiring an
interest in undervalued companies, thereby providing a rich, diversified holding
base. Through its subsidiary company SingleSeed, the company is providing
products and services to the cannabis industry.
Connect on social media at:
https://www.facebook.com/SinglePointMobile
https://twitter.com/_SinglePoint
https://www.linkedin.com/company/singlepoint
For more information visit: www.SinglePoint.com
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, 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.
Technical 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.
Corporate Communications Contact:
NetworkNewsWire (NNW)
New York, New York
www.NetworkNewsWire.com
212.418.1217 Office
Editor@NetworkNewsWire.com
SOURCE: SinglePoint, Inc.
SinglePoint Signs LOI to
Acquire Ancillary Cannabis Products Provider Phoenician Engineering
SEATTLE, WA– April 18, 2018 – SinglePoint, Inc. (OTCQB:
SING) announces
Letter of Intent to wholly acquire Phoenician Engineering. Headquartered in
Phoenix Arizona, Phoenician provides both consumer products as well as
commercial grade equipment. Phoenicians’ main products are medical grade
grinders for consumers and soon to launch a grinder for commercial use. The
company is currently in dispensaries throughout America and ships products
internationally.
Phoenician currently has nine issued patents, three trademarks and additional
patents pending. This will provide SinglePoint valuable IP to add to its growing
asset class. Phoenician has also worked with multiple influencers such as
Sublime with Rome and more. Phoenician is one of the most well-known consumers
grinders in the market because of its quality and lifetime guarantee. The
founders will stay on board through the acquisition and continue to grow the
company with SinglePoint. SinglePoint plans to help increase, the already
profitable sales, through ecommerce and online advertising.
SinglePoint and Phoenician are currently working through due diligence and the
completed transaction is expected to happen soon. “We are ready to close this
deal. We have 100% confidence in the founders of the company. They have built a
sustainable, scalable business. We believe we can help take it to the next
level. They are right in our backyard here in Phoenix so working closely
alongside will be easy. With their product and an injection of our funding and
ecommerce knowledge I believe we can 5x revenue in the first 18 months,” states
Greg Lambrecht CEO. “We are incredibly exited to be working though due diligence
with SinglePoint. This is a great opportunity for synergistic and collaborative
efforts to come together and add tremendous value,” states Colton Dukat, CEO of
Phoenician.
As of April 16th 2018 SinglePoint has concluded its two year audit and plans to
file a form-10 to become fully reporting. Management believes this will give the
company additional access to more capital on better funding terms. This capital
will be used for acquisitions such as Phoenician Engineering and others in order
to grow the company revenues and increase shareholder value.
To see Phoenician Engineering Products please see https://phoenicianengineering.com/
About SinglePoint, Inc.
SinglePoint, Inc (SING) is a technology and investment company with a focus on
acquiring companies that will benefit from the injection of growth capital and
technology integration. The company portfolio includes mobile payments,
ancillary cannabis services and blockchain solutions. Through acquisitions into
horizontal markets, SinglePoint is building its portfolio by acquiring an
interest in undervalued companies, thereby providing a rich, diversified holding
base. Through its subsidiary company SingleSeed, the company is providing
products and services to the cannabis industry.
Connect on social media at:
https://www.facebook.com/SinglePointMobile
https://twitter.com/_SinglePoint
https://www.linkedin.com/company/singlepoint
For more information visit: www.SinglePoint.com
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, 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.
Technical 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.
Corporate Communications Contact:
NetworkNewsWire (NNW)
New York, New York
www.NetworkNewsWire.com
212.418.1217 Office
Editor@NetworkNewsWire.com
SOURCE: SinglePoint, Inc.
SinglePoint Recaps Recently
Achieved Milestones in Cannabis, Blockchain and Corporate Audit
SEATTLE, WA– April 13, 2018 – SinglePoint, Inc. (OTCQB:
SING) recaps
recently achieved milestones in preparation for the launch of multiple projects.
SinglePoint has been full steam ahead in a combination of Cannabis and
Blockchain industries. Additionally, the company is expecting to release audited
financials soon, which will complete the two-year audit and the company will
immediately file a form-10.
SinglePoint recently released a video http://bit.ly/SinglePoint-HarrintonVideo
with original SharkTank member Kevin Harrington discussing SinglePoint’s
opportunities in blockchain and the overall sentiment of the new technology.
Shortly following this the company successfully acquired ShieldSaver. Utilizing
proprietary License Plate Recognition (LPR) technology, ShieldSaver collects
large quantities of important automotive and consumer data. http://bit.ly/SinglePoint-ShieldSaver
SinglePoint plans to utilize this data for a blockchain data play that will
provide verified data to all parties involved in the transaction of a vehicle.
http://bit.ly/ShieldSaverTechnology ShieldSaver is in a prime position to be an
industry leading company with access to verifying vehicle data in a way that has
not been done previously.
In addition to the blockchain opportunity with ShieldSaver, SinglePoint has
signed an LOI http://bit.ly/SING-ORHBBlockchain with ORHub to architect a
blockchain solution for their already developed and in operation Surgical
Resource Management platform. The two companies are still in negotiations of
deliverables and timelines for the project.
Continuing the company’s move in the cannabis industry SinglePoint successfully
launched three new programs. SingleSeed.com, LastMile Delivery and a Cannabis
Waste Diversion initiative.
SingleSeed.com launched just a week ago. The site is already seeing traction and
shipping orders. To date, SingleSeed has not launched any major marketing for
the site as it works out its flow and processes, which is very exciting as
traffic and sales have been organic.
LastMile Delivery http://bit.ly/LastMileDeliverySinglePoint just two days ago
announced it has been approved to beta test in both Google and Apple app stores.
LastMile is setting its goals to be the first state compliant delivery
management program. The application should help improve efficiencies in the
cannabis delivery businesses.
As for the zero waste Cannabis Diversion program the company has received many
inquiries from interested reporters, businesses and more around the research
that has taken place. SinglePoint plans to launch the full report next week
followed on by a second report outlaying the actions SinglePoint will take to
implement waste diversion programs in the cannabis industry http://bit.ly/CannabisZeroWasteSinglePoint
Driving excitement in the cannabis space and the company’s strong position in
pushing forward to supply innovative solutions is the announcement of former
Republican House Speaker John Boehner joining the board of a U.S. based cannabis
company. Recently, Mr. Boehner publicized on twitter, “My thinking on cannabis
has evolved.” He went on to say, “I’m convinced de-scheduling the drug is needed
so we can do research, help our veterans, and reverse the opioid epidemic
ravaging our communities.” SinglePoint management believes that the thinking at
a federal level is starting to change on the current cannabis policy which is
strengthened by Boehner’s and Felds’ (former Massachusetts governor) statement
of, “The time has come for serious consideration of a shift in federal marijuana
policy.” According to a Pew Research Center Survey about 61% of Americans
believe cannabis should be legalized.
SinglePoint has been working many projects in parallel. Management believes
these projects are just a few steps away from launching. “We are very excited
where we are right now. With the launch of these projects SinglePoint has a lot
of momentum, and will have multiple viable services hitting the market,” states
Wil Ralston, President of SinglePoint.
About SinglePoint, Inc.
SinglePoint, Inc (SING) is a technology and investment company with a focus on
acquiring companies that will benefit from the injection of growth capital and
technology integration. The company portfolio includes mobile payments,
ancillary cannabis services and blockchain solutions. Through acquisitions into
horizontal markets, SinglePoint is building its portfolio by acquiring an
interest in undervalued companies, thereby providing a rich, diversified holding
base. Through its subsidiary company SingleSeed, the company is providing
products and services to the cannabis industry.
Connect on social media at:
https://www.facebook.com/SinglePointMobile
https://twitter.com/_SinglePoint
https://www.linkedin.com/company/singlepoint
For more information visit: www.SinglePoint.com
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, 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.
Technical 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.
Corporate Communications Contact:
NetworkNewsWire (NNW)
New York, New York
www.NetworkNewsWire.com
212.418.1217 Office
Editor@NetworkNewsWire.com
Source: SinglePoint, Inc.
Blockchain Remains a Potential Powerhouse for Various Markets’ Futures
New York, NY – March 22, 2018 –
NetworkNewsWire.com News
Coverage: As investors enter the second quarter looking for signs of
growth sectors, cryptocurrencies and blockchain-related markets remain at the
top of the list in potential. In particular, the advantages of blockchain
technologies and their secure, immutable shared ledgers are rapidly gaining
recognition
in the international trade and finance, security, gaming and healthcare sectors.
Several companies are advancing programs to educate the broader investing public
about blockchain technology. Those companies include
SinglePoint, Inc. (OTCQB: SING), which has been aggressively making
strategic acquisitions and building a diverse portfolio in the blockchain space.
Other public companies pursuing opportunities in the expanding blockchain sector
include Longfin Corp. (NASDAQ: LFIN), Accenture PLC (NYSE: ACN), Marathon Patent
Group, Inc. (NASDAQ: MARA) and Overstock.com, Inc (NASDAQ: OSTK).
Blockchain Going Mainstream
With an extensive history in payment technologies,
SinglePoint, Inc. (OTCQB: SING) is selectively building a portfolio of
subsidiaries and partnerships in the blockchain sector as the technology becomes
accepted by global blue-chip enterprises.
The rapid ascendance of blockchain and its growing significance to multiple
marketplaces present a rare opportunity to invest in a transformational
technology, somewhat akin to the early dot-com days. The buzz-phrases “creative
destruction” or “disruptive technology” could easily be applied to the
beneficial upheavals expected in finance, payment processing, trade,
transportation and other industries as blockchain platforms become ubiquitous.
SinglePoint’s widening portfolio of blockchain assets includes:
• A letter of intent to acquire 100 percent of Bitcoin Beyond, a premier
platform that enables merchants to accept bitcoin payments using existing
web-enabled, point-of-sale devices (http://nnw.fm/t9zNO).
• SingleSeed Payments subsidiary is developing a proprietary cryptocurrency
solution that allows cannabis merchants and consumers to take advantage of
bitcoin-powered transactions using debit and credit cards. In addition to making
bitcoin-backed card purchases possible in all retail settings, SinglePoint’s
initiative will enable cannabis dispensaries to digitally track and manage their
product inventories, performing tasks such as uploading product data, photos and
descriptions. The system deducts items automatically from a dispensary’s product
listings when a purchase is made (https://singleseed.com/).
• Original “Shark Tank” member Kevin Harrington as company spokesman for an
innovative, compatible virtual wallet to store any type of cryptocurrency. A
recognized serial and successful venture capitalist, Harrington will host a new
national television and online media ad campaign featuring SinglePoint and the
virtual wallet’s secure method of storing
cryptocurrencies (http://nnw.fm/b8E8o).
• A blockchain platform for healthcare applications to be built with ORHub, Inc.
following completion of a letter of intent. ORHub’s surgical resource management
software is transforming the way hospitals handle operating-room data, thereby
enabling reductions in supply-chain costs. SinglePoint will develop blockchain-based
solutions with ORHub to enhance the value of data collected by the
operating-room software platform (http://nnw.fm/IxwQ4).
For more information on these endeavors view the company’s shareholder update
http://nnw.fm/oso7M
SinglePoint Leadership
Recently
SinglePoint, Inc. (OTCQB: SING) moved to the OTC:QB Venture Markets.
With this move the company added former Amazon general manager and current F5
Networks senior vice president Venugopal Aravamudan to its board of directors.
At Amazon, Aravamudan helped run Amazon Web Services Relational Database
Systems, and at F5 Networks, he is responsible for next-generation cloud
services.
This additional to the team looks to open multiple new relationships and
opportunities for the company.
The Future of Blockchain
As the finance and trade industries lead the way to wider adoption of
blockchain technologies, it appears inevitable client industries will follow.
German banking giant Deutsche Bank (DB) projects that blockchain-enabled systems
will record transactions for 10 percent of global GDP by 2027 (http://nnw.fm/rTeW3).
The IT research and consulting firm Gartner Group projects a sharply rising arc
for blockchain providers. Analysts state blockchain is estimated to have
delivered $4 billion in business value-add or technology innovation in 2017,
which it expects to increase five-fold to $21 billion in two years and soar to
$176 billion by 2025. Looking out further, Gartner estimated blockchain will be
a $3.1 trillion value-added industry by 2030.
By these measures, blockchain technology is still in its infancy in terms of
commercial potential. If blockchain unfolds as the internet did, new
applications will be found that have not yet been considered.
Other Companies in Blockchain Space
Global management consulting giant Accenture (NYSE: ACN) reported March 12
it had created a blockchain prototype with the goal of eradicating bogus
pharmaceuticals from global supply chains and is partnering with
delivery-and-logistics leader DHL to that end (http://nnw.fm/Cq5tb). The two
companies announced they have created a blockchain-based serialization prototype
with nodes in six geographic areas to track pharmaceuticals across the supply
chain (http://nnw.fm/4kOt5). According to Interpol, about a million people die
each year globally because of counterfeit drugs, and some 30 percent of
pharmaceuticals sold in emerging markets are thought to be fakes.
Marathon Patent Group (NASDAQ: MARA) shares recently surged nearly 60 percent in
a single trading day after the company announced it had commenced bitcoin mining
at its new facility in Quebec. In February, Marathon announced it had purchased
1,400 Bitmain Antminer S9 miners and that it had leased space in Quebec, which
is renowned for its comparatively low power costs. Marathon said it may add
another 2,800 Antminer S9s as it evaluates productivity.
Longfin (NASDAQ: LFIN) is working to connect 70 FX and spot exchanges with 300
banks through its electronic market platform. The company also announced in
January that its Ziddu Smart Contracts are commercially available on the
Ethereum blockchain. Longfin contends that currently Ziddu.com is the only venue
for decentralized smart contracts.
Overstock.com (NASDAQ: OSTK) launched an initial coin offering in December, and
the company’s CEO told CNNMoney he may consider selling off the better-known
online retail business to focus on the 10 blockchain companies it owns. In
January, Polymath, a security token launch pad, reported a partnership with
Overstock’s blockchain subsidiary, t0.com, Inc. (tZERO), in which Polymath is
acting in an advisory role in connection with tZERO’s $250 million ICO. With a
market-cap of $1.30 billion, Overstock.com said in March it is cooperating with
a Securities and Exchange Commission inquiry into the cryptocurrency and
blockchain sectors.
While blockchain technology remains an emerging influence in world business, it
has already demonstrated its potential power as a transformative means of
providing security to commercial transactions, including financial processes.
Blockchain appears to have the capability of becoming a disruptive market
influence as it alters the way the world does business.
For more information on SinglePoint, visit
SinglePoint, Inc. (OTCQB: SING).
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and are NOT registered broker-dealers/analysts/investment advisers, hold no
investment licenses and may NOT sell, offer to sell or offer to buy any
security.
The Article and content related to the profiled company represent the personal
and subjective views of the Author, and are subject to change at any time
without notice. The information provided in the Article and the content has been
obtained from sources which the Author believes to be reliable. However, the
Author has not independently verified or otherwise investigated all such
information. None of the Author, NNW, FNM, or any of their respective
affiliates, guarantee the accuracy or completeness of any such information. This
Article and content are not, and should not be regarded as investment advice or
as a recommendation regarding any particular security or course of action;
readers are strongly urged to speak with their own investment advisor and review
all of the profiled issuer's filings made with the Securities and Exchange
Commission before making any investment decisions and should understand the
risks associated with an investment in the profiled issuer's securities,
including, but not limited to, the complete loss of your investment.
NNW & FNM HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.
This release contains "forward-looking statements" within the meaning of Section
27A of the Securities Act of 1933, as amended, and Section 21E the Securities
Exchange Act of 1934, as amended and such forward-looking statements are made
pursuant to the safe harbor provisions of the Private Securities Litigation
Reform Act of 1995. "Forward-looking statements" describe future expectations,
plans, results, or strategies and are generally preceded by words such as "may",
"future", "plan" or "planned", "will" or "should", "expected," "anticipates",
"draft", "eventually" or "projected". You are cautioned that such statements are
subject to a multitude of risks and uncertainties that could cause future
circumstances, events, or results to differ materially from those projected in
the forward-looking statements, including the risks that actual results may
differ materially from those projected in the forward-looking statements as a
result of various factors, and other risks identified in a company's annual
report on Form 10-K or 10-KSB and other filings made by such company with the
Securities and Exchange Commission. You should consider these factors in
evaluating the forward-looking statements included herein, and not place undue
reliance on such statements. The forward-looking statements in this release are
made as of the date hereof and NNW and FNM undertake no obligation to update
such statements.
NetworkNewsWire (NNW) is affiliated with the Investor Brand Network (IBN).
About IBN
Over the past 10+ years we have consistently introduced new network brands, each
specifically designed to fulfil the unique needs of our growing client base and
services. Today, we continue to expand our branded network of highly influential
properties, leveraging the knowledge and energy of specialized teams of experts
to serve our increasingly diversified list of clients.
Please feel free to visit the Investor Brand Network (IBN)
www.InvestorBrandNetwork.com
Corporate Communications Contact:
NetworkNewsWire (NNW)
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212.418.1217 Office
Editor@NetworkNewsWire.com
Media Contact:
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NNW@FinancialNewsMedia.com
+1-(954)345-0611
Source: NetworkNewsWire
Growth Fuels Diversity, Opportunity in Blockchain Sector
New York, NY – March 8, 2018 –
NetworkNewsWire.com News
Coverage: Investment in blockchain technology is growing rapidly. As
innovators develop new ways to apply the technology to a range of industries,
more companies are finding new applications for the technology and attracting
increased funding from investors at the same time.
SinglePoint, Inc. (OTCQB: SING) has attracted investment for a broad
range of blockchain services, including applications in payment
processing,
logistics and health care. Visa, Inc. (NYSE: V) is testing a new
business-to-business blockchain payment service aimed at making international
financial transactions easier. Mastercard, Inc. (NYSE: MA) has registered a
patent for a blockchain database to reduce the need for intermediaries and
resultant delays in payment processing. International Business Machines Corp.
(NYSE: IBM) is collaborating with a shipping firm to develop blockchain-based
international logistics designed to smooth out global supply chains while HIVE
Blockchain Technologies Ltd. (TSX-V: HIVE) (OTC: HVBTF) operates its own
cryptocurrency facilities that seek to bridge the gap between new and
traditional finance.
Blockchain’s Potential Unleashed
Investing in blockchain has never been easier. The distributed ledger technology
that drives cryptocurrencies, such as bitcoin, is now being applied to a wide
range of services and sectors. A recent CB
Insights report has highlighted over 30 industries that blockchain could
transform or is already transforming. The technology is offering businesses
faster financial transactions and smoother supply chain management, with
spin-off benefits for better health-care provision and government oversight of
elections.
As blockchain spreads to other sectors, it continues to have the greatest impact
in finance. Financial service firms are looking for ways to improve banking and
payment processing through blockchain, with redesigns of traditional processes
that could revolutionize the sector. Startups that apply blockchain in all areas
of finance are springing up and attracting plenty of investment interest in
their offerings. Meanwhile, bigger players that initially rejected all things
cryptocurrency-related
are now seeking patents to make blockchain part of their businesses.
Diversifying in Blockchain
One company that is making the most of this potential is
SinglePoint, Inc. (OTCQB: SING). From its starting place as a mobile
technology provider, the company has turned itself into a diverse holding
company with a range of innovative blockchain-based products.
SinglePoint is involved in some of the best-known areas of blockchain
businesses: digital currency and cannabis. The company recently welcomed to its
board of directors former Amazon general manager and current F5 Networks Senior
Vice President Venugopal Aravamudan. With more than 25 years of experience in
the technology sector, Aravamudan has committed to making accretive
introductions to the company leveraging cloud computing capabilities that will
accelerate the capability for SinglePoint to deliver blockchain-enabled
solutions.
SinglePoint is working on financial technology solutions through collaborations
with other companies. SinglePoint is also working to raise the profile of
blockchain technology through a collaboration with entrepreneur and SharkTank
veteran Kevin Harrington, the brain behind 20 companies with combined revenues
over the $100 million mark and whose public profile will help bring
SinglePoint’s services to a wider market.
Many of SinglePoint’s financial solutions are geared toward the cannabis market,
a growing sector that has been under-supported by the traditional finance
industry. Cannabis sales are now legal in 29 U.S. states, but vendors struggle
to access traditional banking systems. SinglePoint’s SingleSeed Payments service
provides cannabis suppliers with fast, secure payment systems, allowing these
suppliers to accept payment methods other than cash. The company is also using
blockchain to support additional parts of the supply chain, including inventory
tracking and deliveries, as well as informing customers about products and
ensuring that businesses meet tight regulatory requirements.
SinglePoint, Inc. (OTCQB: SING) also has a joint-venture agreement with
Smart Cannabis Corp. to license and market the SMART APP, an industry specific
application that enables cultivators to control entire operations from a mobile
device. Among other initiatives, the companies are collaborating to integrate
SinglePoint’s bitcoin payment solution into the app and finalize a “track and
trace” solution utilizing blockchain.
“Consumers who walk into a dispensary, where a cultivator is using our system,
will be able to see how, when, and where the product was grown. There is no
other system on the market like it and we plan to be the first company to use
transparent and traceable blockchain technology to bring this “track and trace”
product knowledge to consumers,” SinglePoint President Wil Ralston stated
(http://nnw.fm/d7zWA).
Blockchain in Medicine
SinglePoint’s involvement in the healthcare sector extends beyond medical
marijuana. The company is bringing blockchain into hospitals for a very
different purpose.
This move comes through a recently announced collaboration with ORHub (http://nnw.fm/k0Yib).
ORHub, a provider of real-time surgical analytics, already offers a range of
products that benefit hospitals, patients and the health-care industry by
improving data capture and the understanding of what is happening in and around
the operating room. SinglePoint is bringing its blockchain expertise to this
work.
Gathering and analyzing data can be a huge challenge in the medical sector. With
records being kept for numerous patients, departments and systems, forming a
complete data profile can be a daunting task. Yet the failure to do so leads to
inefficiencies, lost opportunities for learning and even inadequate patient
care. The partnership between SinglePoint and ORHub seeks to improve this
situation. Starting with an initial $750,000 development project, SinglePoint
will be finding ways to integrate blockchain with ORHub’s data systems so that
records can be made and maintained more accurately and efficiently.
“Having ORHub select
SinglePoint, Inc. (OTCQB: SING) as their solutions architect is
fantastic,” SinglePoint President Wil Ralston stated. “We are beyond excited to
dig into this project and develop a truly industry-changing solution. With the
commitment from ORHub to fund the project, we are in a strong position to
design, develop and execute on the solution. As part of this collaboration and
broader corporate initiatives in the blockchain market, we are aggressively
establishing working relationships with key blockchain engineers.”
Working with ORHub is likely to be only the first in a series of medical
endeavors from SinglePoint. With an entry into the sector via ORHub and so much
work to be done, SinglePoint has the opportunity to utilize and expand on
blockchain’s place in improving patient care.
A Forward-Looking Strategy for Success
The ORHub venture ties in neatly with SinglePoint’s broader strategy of growth
through collaborations and acquisitions.
Another example of this strategy is the company’s recent decision to acquire
Bitcoin Beyond (http://nnw.fm/rP4s6), a payment platform for using
cryptocurrencies. This user-friendly, web-based platform allows merchants to
integrate cryptocurrency payments into their systems through existing
web-enabled, point-of-sale devices. It also allows dollar payments to be carried
out using a range of different currencies. By acquiring Bitcoin Beyond — a
purchase valued at $1 million — SinglePoint has positioned itself to take a lead
in putting blockchain-based payments into high street stores and everyday
financial transactions.
This is part of a broader acquisitions strategy that powers SinglePoint’s
business. The company has raised over a million dollars in funding (http://nnw.fm/5OHfF)
to drive an aggressive strategy of acquisitions across the blockchain and
cannabis cultivation sectors.
The result has been a dramatic rise in the company’s value. SinglePoint share
price rose from $0.01 to nearly $0.08 in a year’s time and remains well above
its initial value. With an expansion strategy targeting a broad range of assets
across cutting-edge, high-value sectors of the economy, SinglePoint is emerging
as a diversified holding company within the blockchain field.
Big Players in Blockchain
Other major players in the financial sector have also taken an interest in
blockchain.
The biggest financial companies were initially wary of this new technology, but
they are starting to come around. Visa (NYSE: V) is making its first steps into
blockchain with its B2B Connect service, trials of which were announced in
November. This business-to-business financial platform is intended to smooth out
cross-border payments by supporting direct payments between institutions. Like
much of blockchain finance, the objective is to make payments more direct, cut
out the middleman, eliminate delays and decrease expenses. Developed in
collaboration with blockchain startup Chain, this platform will help provide
security and transparency for international payments. Banks in the United
States, South Korea, the Philippines and Singapore are taking part in the trial.
Mastercard (NYSE: MA) places “putting technology first” among its interests as a
business and is looking to blockchain to make that a reality. While avoiding
bitcoin, the company has taken an interest in other uses for blockchain. It
filed a patent on Nov. 9 on a blockchain database to be used in payment
transfers. Like Visa, Mastercard is using its blockchain systems to eliminate
delays in payment processing. The involvement of such significant companies
bodes well for blockchain financial technology.
While finance companies are taking an interest in blockchain as a way to speed
up their services, technology companies are looking to finance as a sector in
which to apply their knowhow. Computing giant IBM (NYSE: IBM) has taken an
interest in blockchain for supply chains and payment systems. Its boldest
venture in this area is a new company set up in collaboration with Danish
shipping provider Maersk. Following a successful 2016 trial, this new venture
will look to apply blockchain to its global supply network. Working with ports,
customs officers, banks and shippers, it will use blockchain’s impressive
record-sharing potential to smooth out the global flow of goods.
Companies specializing in blockchain are profiting from the growth of this
sector. HIVE Blockchain (TSX-V: HIVE) (OTC: HVBTF) is working to connect
traditional businesses with blockchain-driven financial sectors. The company has
attracted over $100 million of investment and is further financed by its own
cryptocurrency mining operations.
With so many initiatives by a growing number of companies such as SinglePoint,
blockchain technology looks like a solid piece of the financial future.
For more information on SinglePoint, visit
SinglePoint, Inc. (OTCQB: SING).
About NetworkNewsWire
NetworkNewsWire (NNW) is a financial news and content distribution company that
provides (1) access to a network of wire services via NetworkWire to reach all
target markets, industries and demographics in the most effective manner
possible, (2) article and editorial syndication to 5,000+ news outlets (3),
enhanced press release services to ensure maximum impact, (4) social media
distribution via the Investor Brand Network (IBN) to nearly 2 million followers,
(5) a full array of corporate communications solutions, and (6) a total news
coverage solution with NNW Prime. As a multifaceted organization with an
extensive team of contributing journalists and writers, NNW is uniquely
positioned to best serve private and public companies that desire to reach a
wide audience of investors, consumers, journalists and the general public. By
cutting through the overload of information in today’s market, NNW brings its
clients unparalleled visibility, recognition and brand awareness. NNW is where
news, content and information converge. For more information, please visit
https://www.NetworkNewsWire.com.
Please see full terms of use and disclaimers on the NetworkNewsWire website
applicable to all content provided by NNW, wherever published or re-published:
http://NNW.fm/Disclaimer
DISCLAIMER: NetworkNewsWire (NNW) is the source of the Article and content set
forth above. References to any issuer other than the profiled issuer are
intended solely to identify industry participants and do not constitute an
endorsement of any issuer and do not constitute a comparison to the profiled
issuer. FN Media Group (FNM) is a third-party publisher and news dissemination
service provider, which disseminates electronic information through multiple
online media channels. FNM is NOT affiliated with NNW or any company mentioned
herein. The commentary, views and opinions expressed in this release by NNW are
solely those of NNW and are not shared by and do not reflect in any manner the
views or opinions of FNM. Readers of this Article and content agree that they
cannot and will not seek to hold liable NNW and FNM for any investment decisions
by their readers or subscribers. NNW and FNM and their respective affiliated
companies are a news dissemination and financial marketing solutions provider
and are NOT registered broker-dealers/analysts/investment advisers, hold no
investment licenses and may NOT sell, offer to sell or offer to buy any
security.
The Article and content related to the profiled company represent the personal
and subjective views of the Author, and are subject to change at any time
without notice. The information provided in the Article and the content has been
obtained from sources which the Author believes to be reliable. However, the
Author has not independently verified or otherwise investigated all such
information. None of the Author, NNW, FNM, or any of their respective
affiliates, guarantee the accuracy or completeness of any such information. This
Article and content are not, and should not be regarded as investment advice or
as a recommendation regarding any particular security or course of action;
readers are strongly urged to speak with their own investment advisor and review
all of the profiled issuer's filings made with the Securities and Exchange
Commission before making any investment decisions and should understand the
risks associated with an investment in the profiled issuer's securities,
including, but not limited to, the complete loss of your investment.
NNW & FNM HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.
This release contains "forward-looking statements" within the meaning of Section
27A of the Securities Act of 1933, as amended, and Section 21E the Securities
Exchange Act of 1934, as amended and such forward-looking statements are made
pursuant to the safe harbor provisions of the Private Securities Litigation
Reform Act of 1995. "Forward-looking statements" describe future expectations,
plans, results, or strategies and are generally preceded by words such as "may",
"future", "plan" or "planned", "will" or "should", "expected," "anticipates",
"draft", "eventually" or "projected". You are cautioned that such statements are
subject to a multitude of risks and uncertainties that could cause future
circumstances, events, or results to differ materially from those projected in
the forward-looking statements, including the risks that actual results may
differ materially from those projected in the forward-looking statements as a
result of various factors, and other risks identified in a company's annual
report on Form 10-K or 10-KSB and other filings made by such company with the
Securities and Exchange Commission. You should consider these factors in
evaluating the forward-looking statements included herein, and not place undue
reliance on such statements. The forward-looking statements in this release are
made as of the date hereof and NNW and FNM undertake no obligation to update
such statements.
NetworkNewsWire (NNW) is affiliated with the Investor Brand Network (IBN).
About IBN
Over the past 10+ years we have consistently introduced new network brands, each
specifically designed to fulfil the unique needs of our growing client base and
services. Today, we continue to expand our branded network of highly influential
properties, leveraging the knowledge and energy of specialized teams of experts
to serve our increasingly diversified list of clients.
Please feel free to visit the Investor Brand Network (IBN)
www.InvestorBrandNetwork.com
Corporate Communications Contact:
NetworkNewsWire (NNW)
New York, New York
www.NetworkNewsWire.com
212.418.1217 Office
Editor@NetworkNewsWire.com
Media Contact:
FN Media Group, LLC
NNW@FinancialNewsMedia.com
+1-(954)345-0611
News Source: NetworkNewsWire
Blockchain Innovations Set to Disrupt Healthcare
New York, NY – February 23, 2018 –
NetworkNewsWire.com News
Coverage: Blockchain, the technology behind cryptocurrencies such as
bitcoin, boasts tremendous disruptive potential in a wide range of industries,
including finance, infrastructure, supply chain management and even healthcare.
SinglePoint, Inc. (OTCQB: SING), a company with diverse
interests
and skills in the tech sector, has teamed up with ORHub, Inc. (OTC: ORHB) (ORHB
Profile) to create a blockchain-based solution to improve the way hospitals
collect and utilize operating room data to reduce supply chain costs, while IBM
(NYSE: IBM) and the Food and Drug Administration (FDA) are exploring ways of
using blockchain to more effectively share and audit medical data. With
companies like HIVE Blockchain (TSX-V: HIVE) developing broader infrastructure
applications, the potential for blockchain to improve efficiency across
businesses is accelerating. It’s an approach being pushed from inside the
healthcare industry, with UnitedHealth Group (NYSE: UNH) also demonstrating
interest in blockchain capabilities.
Technology Driven Efficiencies
Data collection and sharing is a growing problem for medical providers. Patient
data has to be preserved and shared with those who need to know, while keeping
it secure for the sake of patient confidentiality. Operational data is vital to
driving evidence-driven improvements, as well as managing supply chains in an
increasingly complex system. The sheer volume of data, and the challenge of
maintaining security while sharing it with vested partners, portends a huge need
within the industry.
Many medical companies are now turning to blockchain technology as a solution.
Though often associated with cryptocurrencies and financial interactions,
blockchain has far wider applications. It provides a system for recording and
sharing information without a need for a central organization controlling
records. This reduces the risk of fraud or error and allows a complete audit
trail, while improving the speed and efficiency with which information can be
shared. In a medical context, it lets limits be set on who can see a patient’s
data, while keeping that data easily accessible to those with a legitimate need
for access. Records can be kept secure for auditing without slowing down data
sharing. And the information needed to manage all parts of a business can be
quickly gathered and exchanged.
Bringing Blockchain Expertise
One company delving into this application of blockchain is
SinglePoint, Inc. (OTC: SING). Established as a mobile technology
provider, the company has grown into a diverse holding company with a portfolio
of investments in cannabis, blockchain and related technologies. By using an
acquisition-based growth strategy, SinglePoint has significantly increased the
technology and expertise it can bring to bear on a blockchain project and other
corporate endeavors. This has led to a dramatic expansion in its services and a
subsequent rise in its share price, from $0.01 to nearly $0.08 on volume of more
than 3.5 million in a single year.
Data integration is central to the challenge facing healthcare providers. The
scattered nature of medical records means that one of the biggest problems is
connecting the dots to provide better care and improve efficiency. Fortunately,
the integration of existing systems lies at the heart of SinglePoint’s work. Its
acquisition of various blockchain companies has
led to the deployment of integrated solutions in areas such as payment
processing (http://nnw.fm/74SlQ). It is also providing technological solutions
for supply chain management and delivery of goods, areas where the medical
sector could benefit from improved data collection and process efficiency.
New Initiatives
ORHB). In a letter of intent, the two companies defined their intention to
create a blockchain services platform for healthcare applications. SinglePoint
will design and develop blockchain-based solutions that can be added to ORHub’s
existing software, enhancing the value of data collected in and around operating
rooms. With an initial budget of up to $750,000 in development costs, this marks
the beginning of SinglePoint’s work in bringing its blockchain expertise to
hospitals.
Given the data management needs of the medical sector, SinglePoint expects this
to be the first of many contracts for the company in blockchain development, in
the healthcare sector and beyond.
“Having ORHub select SinglePoint as their solutions architect is fantastic,”
SinglePoint President Wil Ralston stated in the news release (http://nnw.fm/mL5vl).
“We are beyond excited to dig into this project and develop a truly
industry-changing solution. With the commitment from ORHub to fund the project,
we are in a strong position to design, develop and execute on the solution. As
part of this collaboration and broader corporate initiatives in the blockchain
market, we are aggressively establishing working relationships with key
blockchain engineers.”
Healthy Patients in Healthy Systems
Data gathered at the point of care is vital to the health not just of patients
but of hospitals and other healthcare providers. The past 20 years have seen
huge efforts go into understanding healthcare processes, trying to trim the fat
from a notoriously costly sector. While business analysts have been able to
provide leaner systems, their work has always been reliant on data, and so held
back by its limitations. Developments such as SinglePoint’s new blockchain data
solution will provide the fuel for future improvements across the sector.
SinglePoint, Inc. (OTC: SING) expects to unlock greater value from data
captured across the operational system thanks to blockchain solutions. These
will streamline medical records and improve their accuracy through dispersed
record-keeping systems whose integrity is protected by blockchain systems.
Better information sharing will improve the efficiency of inventory management
and speed up billing cycles.
Strong Supporting Systems
Collaborations with other companies, like that with ORHub, are central to
SinglePoint’s success. Working with firms such as AppSwarm and SMART Cannabis
Corp. (http://nnw.fm/T11oZ) has allowed SinglePoint to combine its own tech
expertise with that of others, developing streamlined solutions for payment and
deliveries.
Steered by a leadership team with extensive experience in technology,
engineering, marketing and raising capital, the company has grown and
diversified from its initial holdings, increasing its presence within the tech
sector. Following the completion of its recent annual audit, it uplisted to
trading on the OTCQB Venture Market.
Combining Technology and Health Care
ORHub (OTC: ORHB) is an ideal partner for SinglePoint’s step into hospital
support. An advanced surgical software provider, ORHub focuses on providing
real-time data capture and analytics around surgery. The company’s surgical
resource management (“SRM”) software is already transforming the way hospitals
deal with operating room data. It captures information before, during and after
surgery, providing integrated measures previously unavailable to doctors and
support staff. Hospitals and medical device vendors can use any web-enabled
device to create a graphic depiction of the operation. This is then translated
into an intelligent report linking every detail of surgery, creating a dynamic
source of information. This allows real-time, data-driven decisions to be made
that improve both patient care and profits. Accurate data reduces costs,
increases accountability and improves efficiency across the board.
“We consider ORHub to be the pioneer of surgical resource management innovation
and our collaboration with SinglePoint to build out transformative healthcare
blockchain solutions was a logical extension of our data platform. Our vision is
to change the face of surgical healthcare by dramatically lowering surgical
costs, aligning physician performance with surgical efficiencies improving
hospital economics and patient outcomes. The power of the intelligent data we
already capture at the point of care has far reaching implications that can be
better deployed through blockchain solutions to resolve the waste in time and
resources that have contributed to the cost burden placed on hospitals today. We
believe that blockchain inspired technology will set the stage for surgical data
to evolve into a new paradigm based on a real-time shared infrastructure
platform that is more transparent, more accurate, more timely, more cost
effective and easy to use,” ORHub CEO Colt Melby stated in a press release
announcing the partnership with SinglePoint.
Other companies are looking at applying blockchain to medical records. Among
them is IBM (NYSE: IBM), which is working with the FDA to explore how blockchain
can ensure the smooth and secure exchange of medical data. The two-year project
is looking at how blockchain can bring together data from a variety of sources,
providing unique new insights for the benefit of public health. As well as
supporting the accumulation of data, blockchain will allow it to be securely
stored thanks to its nature as an unalterable distributed ledger. The IBM
Blockchain in Healthcare blog (http://nnw.fm/O8jTF) provides greater detail on
the technology’s application and potential in the industry.
As more capabilities of digital healthcare resources are uncovered, companies
such as the UnitedHealth Group (NYSE: UNH) are increasingly integrating
technology into their customer solutions. The U.S.-based health insurer has
launched technological solutions for such diverse aspects of healthcare as
diabetes monitoring and bill payment. Indicating the company’s interest in
blockchain, in April 2017 it posted a job opening for a full-time director of
blockchain platforms and application development, a role within the company’s
Optum Technology segment. The now-expired job description hinted at
UnitedHealth’s expectation that blockchain could disrupt the healthcare
industry: "We are about to disrupt healthcare by applying blockchain
technologies. Here, innovation isn't about another gadget, it's about making
healthcare data available wherever and whenever people need it, safely and
reliably. There's no room for error."
Outside of healthcare, blockchain is developing at an ever-accelerating rate as
innovators in numerous industries identify the ability of the technology to
solve key industry problems. Companies like HIVE Blockchain (TSX-V: HIVE) are
attracting large investments to the sector, allowing the development of the
infrastructure and technology to support blockchain. As the profits from this
technology increase, so do investment and advances in the sector.
Building Better Healthcare
The secure, efficient and integrated use of data is a central challenge for
health providers. Patient confidentiality means that data has to be treated with
great sensitivity, and this has often been a barrier to sharing information. Yet
such sharing can improve public health, individual patient care and the
efficiency of healthcare providers.
Blockchain offers a way to square that circle. It is secure, improves the
efficiency of data sharing, and creates an incorruptible audit trail. As
blockchain technology improves and is integrated with other advances in medical
technology, it could provide the solution the sector needs.
For more information on SinglePoint, visit
SinglePoint, Inc. (OTC: SING).
About NetworkNewsWire
NetworkNewsWire (NNW) is a financial news and content distribution company that
provides (1) access to a network of wire services via NetworkWire to reach all
target markets, industries and demographics in the most effective manner
possible, (2) article and editorial syndication to 5,000+ news outlets (3),
enhanced press release services to ensure maximum impact, (4) social media
distribution via the Investor Brand Network (IBN) to nearly 2 million followers,
(5) a full array of corporate communications solutions, and (6) a total news
coverage solution with NNW Prime. As a multifaceted organization with an
extensive team of contributing journalists and writers, NNW is uniquely
positioned to best serve private and public companies that desire to reach a
wide audience of investors, consumers, journalists and the general public. By
cutting through the overload of information in today’s market, NNW brings its
clients unparalleled visibility, recognition and brand awareness. NNW is where
news, content and information converge. For more information, please visit
https://www.NetworkNewsWire.com.
Please see full terms of use and disclaimers on the NetworkNewsWire website
applicable to all content provided by NNW, wherever published or re-published:
http://NNW.fm/Disclaimer
DISCLAIMER: NetworkNewsWire (NNW) is the source of the Article and content set
forth above. References to any issuer other than the profiled issuer are
intended solely to identify industry participants and do not constitute an
endorsement of any issuer and do not constitute a comparison to the profiled
issuer. FN Media Group (FNM) is a third-party publisher and news dissemination
service provider, which disseminates electronic information through multiple
online media channels. FNM is NOT affiliated with NNW or any company mentioned
herein. The commentary, views and opinions expressed in this release by NNW are
solely those of NNW and are not shared by and do not reflect in any manner the
views or opinions of FNM. Readers of this Article and content agree that they
cannot and will not seek to hold liable NNW and FNM for any investment decisions
by their readers or subscribers. NNW and FNM and their respective affiliated
companies are a news dissemination and financial marketing solutions provider
and are NOT registered broker-dealers/analysts/investment advisers, hold no
investment licenses and may NOT sell, offer to sell or offer to buy any
security.
The Article and content related to the profiled company represent the personal
and subjective views of the Author, and are subject to change at any time
without notice. The information provided in the Article and the content has been
obtained from sources which the Author believes to be reliable. However, the
Author has not independently verified or otherwise investigated all such
information. None of the Author, NNW, FNM, or any of their respective
affiliates, guarantee the accuracy or completeness of any such information. This
Article and content are not, and should not be regarded as investment advice or
as a recommendation regarding any particular security or course of action;
readers are strongly urged to speak with their own investment advisor and review
all of the profiled issuer's filings made with the Securities and Exchange
Commission before making any investment decisions and should understand the
risks associated with an investment in the profiled issuer's securities,
including, but not limited to, the complete loss of your investment.
NNW & FNM HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.
This release contains "forward-looking statements" within the meaning of Section
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circumstances, events, or results to differ materially from those projected in
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differ materially from those projected in the forward-looking statements as a
result of various factors, and other risks identified in a company's annual
report on Form 10-K or 10-KSB and other filings made by such company with the
Securities and Exchange Commission. You should consider these factors in
evaluating the forward-looking statements included herein, and not place undue
reliance on such statements. The forward-looking statements in this release are
made as of the date hereof and NNW and FNM undertake no obligation to update
such statements.
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Consumers and Merchants Migrate into Cryptocurrencies in Next Market Evolution
New York, NY – February 8, 2018 –
NetworkNewsWire.com News
Coverage: Until recently, cryptocurrencies were relatively mysterious
to the general public of consumers, merchants and retailers who were unaware of
the advantages that blockchain technologies could have in easing and securing
private transactions. But free markets abhor vacuums, and
several
public companies are advancing programs to educate and bring the broader public
into cryptocurrency transactions.
SinglePoint, Inc. (OTC: SING) is aggressively making strategic
acquisitions in the blockchain and cryptocurrency space, while an increasing
number of recognizable industry behemoths like Overstock.com, Inc. (NASDAQ: OSTK),
Microsoft, Inc. (NASDAQ: MSFT) and Tesla, Inc. (NASDAQ: TSLA) are delving into
cryptocurrencies and blockchain. Others like Starbucks Corp. (NASDAQ: SBUX) have
expressed optimism in its potential for consumer transactions, though stopping
short of accepting bitcoin as payment.
Like any new technology, acceptance of cryptocurrencies will continue to rise as
more companies offer it as a form of payment, and as consumers become more
comfortable and knowledgeable using it. To this accord, companies in a wide
reach of industries are staking a claim in blockchain.
TV Ads to Educate the Public
In mid-January
SinglePoint, Inc. (OTC: SING) announced a collaboration with successful
serial entrepreneur Kevin Harrington, who is not only known as the father of the
informercial, but as the founder-creator of the As Seen On TV retail industry
and an original panel member on the television series SharkTank.
The fact that SinglePoint garnered the attention of Harrington is testament to
the company’s increasing brand visibility; its ability to secure a partnership
with him is just one example of management’s firm grasp on business development.
“Kevin’s [Harrington’s] legendary work producing the launch of more than 500
products is just one of the many reasons we are thrilled about this
partnership,” said Ralston (http://nnw.fm/6Phkt). “Impressively, 20 of Kevin’s
companies have each topped $100 million in revenue. We look forward to
partnering with such a visionary individual and discovering what this means for
the future of SinglePoint.”
SinglePoint has already filmed a television commercial slated for a
first-quarter national launch, which showcases Harrington as spokesman for
SinglePoint’s crypto-currency division. The SinglePoint campaign plans to air
the Harrington spot on major financial news networks, such as CNN, Fox News and
others, as well as key web outlets, where Harrington will inform viewers of the
advantages of SinglePoint’s payment app mobile wallet.
In the pending TV ad, Harrington will show people how to acquire tokens to their
wallets, SinglePoint founder and CEO Greg Lambrecht explained in an interview
(http://nnw.fm/JnN3e) with Don Baillargeon, founder and host of the Money TV
investment show.
The SinglePoint television ads will not only show consumers and others how to
use cryptocurrencies, but also why and where to best advantage.
One-Stop Shop
SinglePoint is one of the few pioneering companies looking to establish a
“single place where you can come and have a wallet for any cryptocurrency,
whether it be bitcoin, Ethereum, Litecoin, or Ripple, whatever it is, and have
it all in one place,” Harrington told Baillargeon.
As he further explains, the business environment and prospects for SinglePoint’s
mobile payment app is analogous to the same kind of “explosive” promise that
GoDaddy.com enjoyed in the early 1990s as a single place to register various
domains.
GoDaddy found success in its user-friendly, simplified business model, the idea
of which SinglePoint aims to replicate for cryptocurrencies.
GoDaddy.com Déjŕ vu
SinglePoint is a variation on the GoDaddy business-model - that of bringing
together into one place all that a consumer or business needs to operate
confidently and easily with cryptocurrencies.
The cryptocurrency trend is gathering steam, which is another reason Harrington
has joined SinglePoint in its endeavors.
“As bitcoin becomes more applicable, and used in more establishments—just
recently the [Dallas] Mavericks, Mark Cuban’s company, started taking bitcoins
for tickets, and Overstock.com, has been doing an amazing job for years taking
bitcoins—I feel that generally the market will follow,” said Harrington.
“SinglePoint’s game-changing approach to serving high-risk markets is the reason
that after 30 years of empowering entrepreneurs I am still excited to get to
work every day. Working closely with SinglePoint’s executive team I am confident
2018 will be a phenomenal year for the company.”
SinglePoint Acquisitions
SinglePoint’s consistent track record of acquisition-based growth was bolstered
earlier this week when the company uplisted to the OTCQB Venture Market. The
achievement will enable the company to increase acquisition deal flow and gain
access to institutional investors, adding fuel to its growth strategy.
“We are extremely pleased to be approved for OTCQB. It is a great step for
SinglePoint as we continue to grow and build our footprint. Increased
transparency and credibility will help broaden our shareholder base and provide
additional exposure to the institutional investor community, ultimately
contributing to increasing shareholder value,” SinglePoint CEO Greg Lambrecht
stated in the press release (http://nnw.fm/7zv3Q).
Among other recent endeavors,
SinglePoint, Inc. (OTC: SING) in January 2018 reported its plan to buy
100% of the privately held Bitcoin Beyond, a platform that enables retail
merchants to accept bitcoin payments using existing web-enabled point-of-sale
devices. With the acquisition, SinglePoint offers a full end-to-end purchasing
experience that provides merchants and bitcoin users unprecedented capabilities.
Bitcoin Beyond was originally created to address growing demand for fast and
reliable electronic-payment processing for the expanding and legal cannabis
industry. Most public commercial banks, as they accept federal deposit
insurance, must comply with certain federal laws and regulations that prevent
serving even the legal cannabis industry. As a result, many cannabis merchants
and suppliers face physical cash-management issues that require expensive and
risky on-site safes, armed guards, armored cars, and physical cash transfers.
Bitcoin Beyond offers the cannabis industry a pathway to overcome the commercial
banking challenges, functioning as a general-purpose point-of-sale system that
processes dollar-denominated payments using bitcoin.
Building the SinglePoint Portfolio
Bitcoin Beyond is the latest addition to SinglePoint’s growing portfolio, which
also includes the company’s proprietary bitcoin exchange (app.SingleSeed.com)
and numerous key industry collaborations and investments.
In December SinglePoint reported it had formalized a joint-venture agreement and
made the first payment to AppSwarm to start development on a delivery
application that will enable licensed delivery services and licensed
dispensaries to safely make in home deliveries. This agreement strengthens
SinglePoint’s position in the cannabis and cryptocurrency markets, where the
company continues to deepen its roots.
The company’s partnership with fintech solutions provider Global Payout (GOHE)
is focused on advancing and streamlining the process involved in delivering
payment applications, while its collaboration with SMART Cannabis Corp. (SCNA)
provides an entry into the commercial marijuana cultivation market. The joint
venture with SCNA will allow the two companies to incorporate blockchain
currency into Smart Cannabis’ SMARTAPP, and sell it to growers, integrating
seed-to-sale and payment mechanisms (http://nnw.fm/t2SAz).
SinglePoint plans to acquire additional companies and technologies to broaden
its footprint in the emerging blockchain space and deploy its products and
services to major established markets.
The Public Bets on Cryptocurrencies
If 2017 was the year cryptocurrencies entered the public consciousness, then
2018 is the year punters—that is, bettors—expect much wider adoption of
cryptocurrencies to begin, reports the Betway Group, a British online betting
platform that offers options to bet on sports, casinos, and various public
events, such as political elections and future consumer preferences.
To date, the general financial and consumer markets—with some prominent
exceptions—have not yet embraced cryptocurrencies, but certainly retailers have
every incentive to accommodate consumers, including those with bitcoins to
spend.
Interestingly, the recent adoption of bitcoin futures markets by the Cboe Global
and CME Group (CME) allows large retailers and others to hedge their bitcoin
positions, reducing exposure to a sudden decrease in bitcoin value. So the risks
of holding a large number of bitcoins can now be mitigated for large retailers
and other institutions as well.
New data from Betway Group show bettors expect even the largest of retailers,
such as Walmart to start accepting bitcoin or crypto-currencies in 2018.
About 83.3% of bettors expect Walmart to start accepting cryptocurrencies in
2018, and 75.0% for British Airways and 66.7% for McDonalds.
Retailers and Cryptocurrencies
Overstock.com (NASDAQ: OSTK) was one of the first retailers to accept bitcoin,
but the online discount-house’s CEO recently told CNNMoney he may consider
selling off retail operations to focus on the 10 blockchain companies it owns.
In mid-January, Polymath, a security token launch pad, reported a partnership
with Overstock’s blockchain subsidiary, t0.com, Inc. (tZERO) in which Polymath
is acting in an advisory role in connection with tZERO’s $250 million ICO.
Tesla (NASDAQ: TSLA) the battery and electric-car manufacturer, and potential
tunnel-borer, has also launched its own blockchain currency, the Teslacoin,
worth about $0.10 in late January trading. The tech-outfit said there is a
permanent maximum limit of 75 million Teslacoins will ever be minted (http://www.tesla-coin.com/).
Microsoft (NASDAQ: MSFT) The software giant has blown hot and cold on bitcoin,
but presently is accepting the digital currency at its Windows and Xbox online
stores. Buyers can add bitcoin to their Microsoft-sanctioned digital wallets
that they can then redeem as dollars. Microsoft first started accepting bitcoins
for some products in 2014.
Starbucks (NASDAQ: SBUX) Executive Chairman Howard Schultz has advised that the
ubiquitous coffee-shop chain does not plan to accept bitcoins. However, he
expressed confidence in the potential of blockchain technology to serve as a
catalyst for a “legitimate” digital currency. “I personally believe that there
is going to be a one or a few legitimate trusted digital currencies off of the
blockchain technology. And that legitimacy and trust in terms of its consumer
application will have to be legitimatized by a brand and a brick and mortar
environment, where the consumer has trust and confidence in the company that is
providing the transaction,” he stated in a recent post-earnings call.
Crowd Intuition
Some have argued that the “wisdom of crowds” is a superior mechanism for
divining future commercial trends than the sole reliance on expert opinion, and
further that betting markets are excellent devices for predicting outcomes of
elections or the introduction of new technologies.
For now, it appears the crowds expect major retailers to begin embracing
cryptocurrencies, and in the not-too-distant future.
What is clear is that retailers are not in habit of putting up moats between
themselves and customer money. If consumers have bitcoins or other
cryptocurrencies, then retailers will follow—and the smart outfits may lead.
For more information on SinglePoint, visit
SinglePoint, Inc. (OTC: SING)
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This release contains “forward-looking statements” within the meaning of Section
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pursuant to the safe harbor provisions of the Private Securities Litigation
Reform Act of 1995. “Forward-looking statements” describe future expectations,
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differ materially from those projected in the forward-looking statements as a
result of various factors, and other risks identified in a company’s annual
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evaluating the forward-looking statements included herein, and not place undue
reliance on such statements. The forward-looking statements in this release are
made as of the date hereof and NNW undertakes no obligation to update such
statements.
NetworkNewsWire (NNW) is affiliated with the Investor Brand Network (IBN).
About IBN
Over the past 10+ years we have consistently introduced new network brands, each
specifically designed to fulfil the unique needs of our growing client base and
services. Today, we continue to expand our branded network of highly influential
properties, leveraging the knowledge and energy of specialized teams of experts
to serve our increasingly diversified list of clients.
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News Source: NetworkNewsWire
SinglePoint Begins Trading on the OTCQB Venture Market
SEATTLE, WA / Feb. 06, 2018 /
SinglePoint, Inc. (OTC PINK: SING) is pleased to announce it has been
approved and is now trading on the OTCQB Venture Market, which requires a higher
level of transparency and helps provide increased investor confidence through
continued verification of information. Uplisting from the OTC Pink Open Market
tier supports
with the Company’s goals of increasing acquisition deal flow and having access
to institutional investors both directly and through the open market.
“We are extremely pleased to be approved for OTCQB. It is a great step for
SinglePoint as we continue to grow and build our footprint. Increased
transparency and credibility will help broaden our shareholder base and provide
additional exposure to the institutional investor community, ultimately
contributing to increasing shareholder value,” states Greg Lambrecht CEO
SinglePoint.
SinglePoint will continue to provide audited financials and plans to be fully
reporting by filing a Form-10 or S-1 in the near future. The next step towards
fully reporting will represent another initiative to further transparency, add
credibility and increase exposure to investment banking firms.
About SinglePoint, Inc.
SinglePoint, Inc. (SING) has grown from a full-service mobile technology
provider to a publicly traded holding company. Through diversification into
horizontal markets, SinglePoint is building its portfolio by acquiring an
interest in undervalued subsidiaries, thereby providing a rich, diversified
holding base. Through its subsidiary company SingleSeed, the company is
providing products and services to the cannabis industry.
For more information, visit: www.SinglePoint.com
Connect on social media:
https://www.facebook.com/SinglePointMobile
https://twitter.com/_SinglePoint_
https://www.linkedin.com/company/singlepoint
Forward-Looking Statements
Certain statements in this news release may contain forward-looking information
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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, 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.
Technical complications, which may arise, could prevent the prompt
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Source: SinglePoint, Inc.
How Blockchain is Transforming Payments and More
New York, NY – January 30, 2018 –
NetworkNewsWire.com News
Coverage: Less than a decade ago, blockchain sounded like the fodder
of science fiction; today, the technology is demonstrating its ability to
revolutionize the finance industry. By stepping outside the existing payment
structures, blockchain provides a new and secure way to execute financial
transactions. The use of the technology is rapidly expanding, and because of the
innovative nature of the
technology,
its wide-ranging possibilities are being explored and developed by a range of
companies with unique objectives. Some, such as
SinglePoint, Inc. (OTC: SING), are looking at how to integrate these
technologies to provide a better service for select markets. While alarming
articles predict the bursting of the “blockchain bubble,” established companies
such as Bank of America Corp. (NYSE: BAC) and Mastercard, Inc. (NYSE: MA) have
moved to adopt blockchain technology, signalling its acceptance by mainstream
banking. Meanwhile, companies such as Bitcoin Services, Inc. (OTC: BTSC) and
Discover Financial Services (NYSE: DFS) continue looking for new ways to exploit
the technology’s potential.
The Future of Payment
Blockchain is a system for recording and sharing information, including
financial data. Because of the way data is stored within a blockchain, there is
no need for a central organization tasked with controlling records. This
decentralization makes it easier to transfer data or money while reducing the
risk of fraud or error. The benefits are such that the World Economic Forum has
predicted that 10% of GDP will be stored on blockchain technology by 2025.
Blockchain has become famous mostly through the meteoric rise of bitcoin, which
has seen the market value of cryptocurrencies rise to over $540 billion. But its
use goes far beyond this. Its ability to verify clients and products is expected
to lead to better records of property ownership and certification of diamonds.
It could provide smart contracts that automatically pay out when success
criteria are hit. By acting as a secure system for direct payments, it will
reduce the need for intermediaries in financial systems, allowing people to make
payments more quickly and directly.
Putting the Pieces Together
One of the companies seeking to take advantage of these capabilities is
SinglePoint, Inc. (OTC: SING), which has grown from a mobile technology
provider into a diverse holding company with a growing portfolio of investments
in blockchain-related technology. SinglePoint’s aggressive, acquisition-based
growth strategy has seen it dramatically expand its services and brand awareness
in the investment community.
SinglePoint is implementing blockchain to the core of its business strategy,
specifically as it pertains to the cannabis and other “high-risk” industries. By
acquiring companies and technologies with established roots in blockchain
services, SinglePoint can provide increasingly integrated options for blockchain-based
payment systems. For example, the company’s recent agreement to acquire Bitcoin
Beyond will provide SinglePoint a user-friendly point-of-sale payment system
that will provide merchants and bitcoin users a range of unprecedented
capabilities. Bitcoin Beyond was created to overcome the challenges of merchants
in the cannabis industry, which is crippled by cash management issues due to the
lack of banking options. Functioning as a general-purpose point-of-sale system,
Bitcoin Beyond is poised to address the growing demand for fast and reliable
electronic payment processing for the cannabis industry.
“We are thrilled with this opportunity. Acquiring Bitcoin Beyond put us ahead of
what we believe merchants have access to now. This platform has by far the
easiest user interface we have seen in the market, and we are confident
merchants will be quick to adopt this solution as it stands as the sole
alternative to traditional options offered to the cannabis industry,”
SinglePoint President Wil Ralston stated in the press release (http://nnw.fm/l7DK5).
One of the advantages of the Bitcoin Beyond System is that it makes
cryptocurrency transactions easy by instantly doing the conversion for USD for
merchants and customers. It can process payments in bitcoin, the most popular
blockchain payment system, from any web-enabled terminal available at checkout,
from a cell phone or tablet to a full PC.
SinglePoint also has its own proprietary bitcoin exchange (app.singleseed.com),
launched in November 2017. Customers can easily sign up using a credit or debit
card, then use the system to benefit from blockchain’s quick, secure payments.
SinglePoint’s commitment to integrated solutions extends beyond acquiring
companies and into collaborations. The company has agreements with various
businesses, including fintech solutions provider Global Payout, to advance and
streamline the process involved in delivering payment applications.
The company has also teamed up with SharkTank veteran and entrepreneur Kevin
Harrington - which has led 20 companies to reach revenues of over $100 million -
to develop and promote a range of cryptocurrency projects, including
SinglePoint’s exchange and bitcoin payment platform and the integration of
Procurrency, an e-commerce and rewards platform using blockchain currency
(http://nnw.fm/qV7Xp).
With these initiatives, SinglePoint is tapping into not just one fast-growing
sector but two, as many of its financial and technological solutions are geared
toward cannabis merchants.
Financial Services for a New Market
With cannabis sales now legal in 29 U.S. states, and legislators opening the way
to recreational as well as medical use, cannabis is a lucrative business. But
federal legislation designed for the war on illegal drugs has created problems
for legal cannabis businesses. Many are unable to access the financial services
available to other companies and have been forced to work on a cash basis,
making them vulnerable to theft and fraud. Blockchain payment systems provide
them with a secure alternative to cash payments without needing to engage with
banks.
Services such as SingleSeed are specifically geared toward this market,
providing a much-needed product for a growing industry. SinglePoint’s blockchain-based
services allow secure payments for cannabis merchants. Its collaborations with
other companies, including developing mobile apps with AppSwarm, ensure that
these services are easily accessible. SinglePoint’s willingness to move quickly
is vital in these fast-growing sectors. The AppSwarm collaboration began with an
aim to launch their first app within 90 days.
SinglePoint’s services for the cannabis sector show how blockchain technology
and the companies behind it can provide more than just financial solutions. The
work with AppSwarm will allow safe delivery to customers in their homes,
increasing the speed, security, and efficiency of the cannabis supply chain.
The technology provided by SinglePoint goes beyond just a payment system. It
also provides vendors with a system to digitally track their inventories,
provide information about products to customers, and automatically remove
products from the inventory once sold. Though this is currently targeted at
cannabis suppliers, it is a system that could be useful for any cash-based
business looking for a more secure way to operate. Thanks to money from the
fast-growing legal cannabis market,
SinglePoint, Inc. (OTC: SING) is creating software that will be useful
for all manner of small businesses.
SinglePoint’s interest in integrating systems and supply chains extends into
other parts of the cannabis industry. The company recently established a joint
venture with Smart Cannabis, making a major move into California’s cannabis
market before blanket marijuana legalization in that state. Having previously
acquired Discount Indoor Garden Supply in California and invested in
California-based cannabis equipment supplier Convectium, SinglePoint is now the
owner or investor in products and services covering the whole cannabis supply
chain. It is in a position to provide the same sort of integrated services it
has pioneered in blockchain payments.
The partnership with Smart Cannabis is particularly valuable in capturing market
share within California’s red-hot commercial marijuana cultivation market. Smart
Cannabis provides a range of innovative products for cannabis growers, including
automated greenhouse systems and a unique seed-to-sale app. Seed-to-sale systems
are important in managing cannabis sales and ensuring compliance with government
regulations. The joint venture will allow the two companies to incorporate
blockchain currency into Smart Cannabis’ SMARTAPP and sell it to growers,
integrating seed-to-sale and payment mechanisms (http://nnw.fm/t2SAz).
The Bigger Picture on Blockchain
While SinglePoint is providing some of the most interesting examples of
integrated systems using blockchain, an increasing number of companies are also
exploring the services this technology can provide.
Bank of America (NYSE: BAC), the second largest bank in America and the largest
wealth management company in the world, has long distanced itself from bitcoin,
the leading blockchain currency. But as the holder of at least 27 blockchain
patents and 39 relating to cryptocurrency, including some for exchanging
currencies, it is clear that the bank is interested in the broader technologies.
CEO Brian Moynihan has played down the bank’s interest in cryptocurrencies, even
as his organisation prepares for a future built around blockchain.
Mastercard (NYSE: MA), one of the largest payment processing companies in the
world, prides itself on its forward-looking approach to finance, listing
“Putting technology first” among its areas of focus. It has repeatedly shown an
interest in blockchain. In a patent filed on the 9th of November 2017, it set
out details for a blockchain database that would reduce delays in payment
transfers. Like Bank of America, its leaders are pro-blockchain but anti-bitcoin.
Bitcoin Services (OTC: BTSC) provides support services for people dealing in the
most prominent blockchain currency, bitcoin. The company is also working on
developing blockchain software, as this technology keeps moving forward.
Direct banking and payments company Discover Financial Services (NYSE: DFS) has
singled out blockchain as one of the most important technologies shaping the
future of payments. Describing blockchain as secure, transparent, and closer in
the way it works to cash than to card payments, Discover has identified the
technology as one to keep an eye on. Though the company has not yet announced
any blockchain innovations of its own, comments on its Discover Network suggest
it is preparing its customers for a blockchain future (http://nnw.fm/BlW3O).
Like any transformative technology, blockchain creates challenges as well as
benefits. It relies on large data sets, meaning that new infrastructure may be
needed to support widespread use. Its ability to provide direct payments with a
minimal data trail has created concerns about money laundering and regulatory
oversight. But the genie is out of the bottle, and given its benefits, the
question isn’t whether anyone will overcome these challenges, it is who will.
For more information on SinglePoint, visit
SinglePoint, Inc. (OTC: SING)
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forth above. References to any issuer other than the profiled issuer are
intended solely to identify industry participants and do not constitute an
endorsement of any issuer and do not constitute a comparison to the profiled
issuer. The commentary, views and opinions expressed in this release by NNW are
solely those of NNW. Readers of this Article and content agree that they cannot
and will not seek to hold liable NNW for any investment decisions by their
readers or subscribers. NNW is a news dissemination and financial marketing
solutions provider and are NOT registered broker-dealers/analysts/investment
advisers, hold no investment licenses and may NOT sell, offer to sell or offer
to buy any security.
The Article and content related to the profiled company represent the personal
and subjective views of the Author, and are subject to change at any time
without notice. The information provided in the Article and the content has been
obtained from sources which the Author believes to be reliable. However, the
Author has not independently verified or otherwise investigated all such
information. None of the Author, NNW, or any of their respective affiliates,
guarantee the accuracy or completeness of any such information. This Article and
content are not, and should not be regarded as investment advice or as a
recommendation regarding any particular security or course of action; readers
are strongly urged to speak with their own investment advisor and review all of
the profiled issuer’s filings made with the Securities and Exchange Commission
before making any investment decisions and should understand the risks
associated with an investment in the profiled issuer’s securities, including,
but not limited to, the complete loss of your investment.
NNW HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.
This release contains “forward-looking statements” within the meaning of Section
27A of the Securities Act of 1933, as amended, and Section 21E the Securities
Exchange Act of 1934, as amended and such forward-looking statements are made
pursuant to the safe harbor provisions of the Private Securities Litigation
Reform Act of 1995. “Forward-looking statements” describe future expectations,
plans, results, or strategies and are generally preceded by words such as “may”,
“future”, “plan” or “planned”, “will” or “should”, “expected,” “anticipates”,
“draft”, “eventually” or “projected”. You are cautioned that such statements are
subject to a multitude of risks and uncertainties that could cause future
circumstances, events, or results to differ materially from those projected in
the forward-looking statements, including the risks that actual results may
differ materially from those projected in the forward-looking statements as a
result of various factors, and other risks identified in a company’s annual
report on Form 10-K or 10-KSB and other filings made by such company with the
Securities and Exchange Commission. You should consider these factors in
evaluating the forward-looking statements included herein, and not place undue
reliance on such statements. The forward-looking statements in this release are
made as of the date hereof and NNW undertakes no obligation to update such
statements.
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News Source: NetworkNewsWire
Bitcoin’s Rise Speeds the Adoption of Cryptocurrency-Based Payment Solutions
New York, NY – January 9, 2018 –
NetworkNewsWire.com News
Coverage: The meteoric rise in the price of bitcoin in 2017, from just
under $1,000 to above $15,000 at year-end, has attracted the attention of
investors around the world.
Powered
by the blockchain, the distributed ledger technology which verifies transactions
without the need for third-party validation, the cryptocurrency made great
strides during the past year in achieving acceptance by businesses willing to
accept it as a means of payment. Investors looking beyond bitcoin itself to find
companies that stand to benefit from the growing usage of bitcoin for commercial
transactions have a number of options to choose from, including
SinglePoint, Inc. (OTC: SING) and Square, Inc. (NYSE: SQ). Even industry
behemoths like Discover Financial Services (NYSE: DFS), International Business
Machines Corp. (NYSE: IBM) and Mastercard, Inc. (NYSE: MA) are getting on board
to one degree or another, poised to take advantage of the disruptive potential
of cryptocurrencies to facilitate the payment process.
SinglePoint, Inc. (OTC: SING) has established itself in the burgeoning
market for cryptocurrency transaction platforms. Through diversification into
horizontal markets, SinglePoint has developed from a full-service mobile
technology provider into a holding company focused on building its portfolio by
acquiring interests in undervalued subsidiaries. The company has developed,
through its SingleSeed subsidiary, a proprietary bitcoin payments solution
designed to allow cannabis merchants and customers to use bitcoin-enabled debit
and credit cards to conduct transactions. SinglePoint’s solution is in full
compliance with KYC-AML and is eligible for deployment in all types of
businesses, giving it potential beyond the cannabis market.
A cryptocurrency like bitcoin has the potential to help serve the needs of
under-banked markets such as the cannabis industry. The classification of
cannabis as a Schedule 1 drug at the federal level under the Controlled
Substances Act prevents most industry merchants from using traditional banking
services. This makes such businesses virtually unbankable, forcing them to deal
in cash with all the inconvenience that can bring.
With its SingleSeed Payments platform, SinglePoint has taken the lead in the
U.S. in payment solutions for the industry. This platform provides customers in
any state where marijuana is legal the convenience of transacting bitcoin-enabled
purchases with their debit and credit cards, similar to how they would use these
cards to purchase any other item. SingleSeed Payments also allow cannabis
dispensaries to digitally keep track of product inventories and to upload
product data like photos and descriptions. When products are purchased the
system automatically accounts for the reduction in inventory in the merchant’s
product listings.
This proprietary bitcoin exchange (app.singlessed.com) underwent a soft launch
on November 15, 2017, with an official launch planned for the first quarter of
2018. Even if cannabis is legalized at the federal level at some future time,
the SingleSeed app is poised to expand its use as an effective tool for handling
retail cannabis payments using cryptocurrency. Ultimately, the company hopes to
provide a completely integrated solution that can be used by all types of
businesses for end-to-end management of their day-to-day business operations.
After achieving significant growth in 2017,
SinglePoint, Inc. (OTC: SING) is well prepared to continue this
trajectory in 2018. The company has formalized a joint-venture agreement that it
had previously announced with AppSwarm (SWRM) to begin development on an
application that will make it possible for licensed cannabis delivery services
and dispensaries to safely make in home deliveries. Through this and other
agreements and partnerships and product offerings, SinglePoint has positioned
itself in the forefront of both the cannabis and cryptocurrency markets.
The company has entered into an agreement to advance and streamline the process
involving the delivery of payment
applications with Global Payout (GOHE), a provider of customized financial
technology solutions. SinglePoint hopes to leverage its expertise in mobile
payments and associated mobile offerings to work with Global Payment’s MoneyTrac
(“MTRAC”) subsidiary, which is developing payment solutions for the cannabis
industry, to further the optimization of its technology platform and add value
to the services it offers.
SinglePoint President Wil Ralston recently stated: “Through strategic joint
ventures and inside development of applications we are pushing hard on providing
a compliant solution to the cannabis industry. Our team and others have worked
well in collaboration, and believe we are not far away from an official launch
of this solution in the first quarter of 2018.”
SinglePoint has also formed another strategic joint venture, in this case with
Smart Cannabis Corp (SCNA). Smart Cannabis provides automated greenhouse systems
as well as its unique SMART APP, which offers seed-to-sale monitoring and
automation for cannabis growers. The firm is one of the few companies in the
cannabis sector which is profitable. The SMART APP enables cultivators to
control their operations from a mobile device. The two companies plan to
collaborate to integrate the app with SinglePoint’s bitcoin payment solution,
enabling cultivators to accept payment for their product through the payment
application, improving the safety and security of such transactions.
“Cultivators need a solution to secure their payments. We are looking to provide
a solution that can be used from seed to sale, the entire life cycle. The
transaction from a cultivator to a processor or dispensary can be huge, over
$150,000 per transaction, and it is simply not safe or efficient to carry that
kind of cash to a transaction,” Ralston stated. With California legalizing
recreational marijuana sales in 2018, this partnership helps position
SinglePoint to serve the expected increase in business in the state. The company
has taken other steps to position itself to benefit from the legalization of
cannabis in California, including acquiring California-based Discount Indoor
Garden Supply and investing in Convectium, a cannabis equipment supplier located
in the state.
Legal marijuana sales are currently experiencing robust growth. Sales are slated
to amount to approximately $9.7 billion in North America in 2017, 33 percent
higher than in 2016, with industry observers forecasting the market to rise to
upward of $24.5 billion in sales by 2021, according to an article in Business
Insider (http://nnw.fm/G6fKK). With the cannabis industry ideally suited to
pioneer the practice of fully blending cryptocurrencies into its day-to-day
operating practices, SinglePoint has positioned itself to offer industry
participants a solution that helps them efficiently integrate bitcoin-based
payments into their operations. As a result, the company is well placed to take
advantage of the tremendous growth expected in the sector.
Building on the company’s success in 2017, SinglePoint’s management team plans
to undertake an aggressive expansion strategy. Management believes the multiple
joint ventures and agreements the company has signed will provide fruitful
results going forward, and plans to continue the strategy of making
acquisitions, which has been a powerful catalyst for corporate growth, in 2018.
SinglePoint’s management remains bullish on the use of bitcoin and blockchain
technologies to solve key issues in the cannabis markets, and will seek out
companies to acquire and partner with to bring solutions to this growing market
throughout the year.
Another company which has taken steps to offer consumers the ability to
participate in the cryptocurrency revolution is Square, Inc. (NYSE: SQ), which
provides credit card payment processing solutions. The company also offers
point-of-sale services, financial services, and marketing services. The company
has released a beta trial enabling users to buy and sell bitcoin on its cash
app. The move was welcomed by investors who bid the company’s stock up more than
100 percent in 2017, as it rose from the approximately $15 in January to end the
year at $34.67.
A major financial services firm which is closely watching the cryptocurrency
space and the development of blockchain technology is Discover Financial
Services (NYSE: DFS), a direct banking and payment services company that is one
of the largest U.S.-based card issuers. The company issues the Discover card and
offers a variety of loans and other services through its direct banking network.
In an article on the Discover Global Network, bitcoin and other types of
payments driven by blockchain technology were described as being even more like
cash than a debit transaction would be, meaning that industries beyond payment
technology may want to consider how blockchain technology could be used to help
add efficiency to the management of data and information.
A well-known name in computer technology for decades, IBM (NYSE: IBM) has wasted
no time in taking steps to capitalize on the power of the blockchain. The
company recently started processing payments between banks in the South Pacific
using a proprietary blockchain platform it developed. Another notable example of
IBM’s use of the blockchain is its partnership with mega retailer Walmart to
utilize a combination of IoT (Internet of Things) sensors along with the
blockchain to track produce from farm to fork, allowing for the rapid removal of
any product which experiences quality issues. Traditionally, paper tracking
systems have been used for this purpose, which can allow for inaccuracies and
slow down the process of tracing food products. Using the blockchain, tracking
information on a product can be called up in as little as 2.2 seconds rather
than the multiple days it might have taken previously.
Global payments technology giant Mastercard (NYSE: MA) is another major
corporation making a move to utilize the blockchain technology underlying
cryptocurrencies such as bitcoin for payment processing. The company is now
allowing some customers to send money via a blockchain instead of swiping a
credit card. Mastercard has developed its own blockchain which it has announced
is now available to certain banks and merchants to use to send payments for
goods and services. Mastercard joins its fellow fortune 500 company IBM in
allowing payments to be made over a proprietary blockchain system.
Mastercard’s blockchain is different from IBM’s in that, while the IBM
blockchain utilizes Lumens, a virtual currency developed by the non-profit
Stellar, the Mastercard blockchain doesn’t use a cryptocurrency to operate,
instead accepting payments only in traditional local money. In addition to
payments, Mastercard also envisions the use of the blockchain for applications
such as tracking the movement of goods such as pharmaceuticals or luxury goods,
providing authenticity data for these goods and thereby reducing fraud.
The stunning ascent in bitcoin’s price in 2017 has helped pave the way for the
use of the cryptocurrency and the blockchain technology on which it is based for
a number of business purposes, among the most promising being the processing of
payments where the transparency and efficiency of the technology improves
existing practices. Given the hurdles to conducting cannabis transactions
through traditional banking networks, this industry is among the most prominent
targets for the use of bitcoin in this manner. The companies mentioned above are
all positioned to play a major role in the developing trend of blockchain and
cryptocurrency-based payment solutions, making them worthy of further
investigation by investors looking to capitalize on the disruptive power of
cryptocurrencies and the technology behind them.
For more information on SinglePoint, visit:
SinglePoint, Inc. (OTC: SING)
About NetworkNewsWire
NetworkNewsWire (NNW) is an information service that provides (1) access to our
news aggregation and syndication servers, (2) NetworkNewsBreaks that summarize
corporate news and information, (3) enhanced press release services, (4) social
media distribution and optimization services, and (5) a full array of corporate
communication solutions. As a multifaceted financial news and content
distribution company with an extensive team of contributing journalists and
writers, NNW is uniquely positioned to best serve private and public companies
that desire to reach a wide audience of investors, consumers, journalists and
the general public. NNW has an ever-growing distribution network of more than
5,000 key syndication outlets across the country. By cutting through the
overload of information in today’s market, NNW brings its clients unparalleled
visibility, recognition and brand awareness. NNW is where news, content and
information converge.
Please see full terms of use and disclaimers on the NetworkNewsWire website
applicable to all content provided by NNW, wherever published or re-published:
http://NNW.fm/Disclaimer
DISCLAIMER: NetworkNewsWire (NNW) is the source of the Article and content set
forth above. References to any issuer other than the profiled issuer are
intended solely to identify industry participants and do not constitute an
endorsement of any issuer and do not constitute a comparison to the profiled
issuer. FN Media Group (FNM) is a third-party publisher and news dissemination
service provider, which disseminates electronic information through multiple
online media channels. FNM is NOT affiliated with NNW or any company mentioned
herein. The commentary, views and opinions expressed in this release by NNW are
solely those of NNW and are not shared by and do not reflect in any manner the
views or opinions of FNM. Readers of this Article and content agree that they
cannot and will not seek to hold liable NNW and FNM for any investment decisions
by their readers or subscribers. NNW and FNM and their respective affiliated
companies are a news dissemination and financial marketing solutions provider
and are NOT registered broker-dealers/analysts/investment advisers, hold no
investment licenses and may NOT sell, offer to sell or offer to buy any
security.
The Article and content related to the profiled company represent the personal
and subjective views of the Author, and are subject to change at any time
without notice. The information provided in the Article and the content has been
obtained from sources which the Author believes to be reliable. However, the
Author has not independently verified or otherwise investigated all such
information. None of the Author, NNW, FNM, or any of their respective
affiliates, guarantee the accuracy or completeness of any such information. This
Article and content are not, and should not be regarded as investment advice or
as a recommendation regarding any particular security or course of action;
readers are strongly urged to speak with their own investment advisor and review
all of the profiled issuer's filings made with the Securities and Exchange
Commission before making any investment decisions and should understand the
risks associated with an investment in the profiled issuer's securities,
including, but not limited to, the complete loss of your investment.
NNW & FNM HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.
This release contains "forward-looking statements" within the meaning of Section
27A of the Securities Act of 1933, as amended, and Section 21E the Securities
Exchange Act of 1934, as amended and such forward-looking statements are made
pursuant to the safe harbor provisions of the Private Securities Litigation
Reform Act of 1995. "Forward-looking statements" describe future expectations,
plans, results, or strategies and are generally preceded by words such as "may",
"future", "plan" or "planned", "will" or "should", "expected," "anticipates",
"draft", "eventually" or "projected". You are cautioned that such statements are
subject to a multitude of risks and uncertainties that could cause future
circumstances, events, or results to differ materially from those projected in
the forward-looking statements, including the risks that actual results may
differ materially from those projected in the forward-looking statements as a
result of various factors, and other risks identified in a company's annual
report on Form 10-K or 10-KSB and other filings made by such company with the
Securities and Exchange Commission. You should consider these factors in
evaluating the forward-looking statements included herein, and not place undue
reliance on such statements. The forward-looking statements in this release are
made as of the date hereof and NNW and FNM undertake no obligation to update
such statements.
NetworkNewsWire (NNW) is affiliated with the Investor Based Brand Network (IBBN).
About IBBN
Over the past 10+ years we have consistently introduced new network brands, each
specifically designed to fulfil the unique needs of our growing client base and
services. Today, we continue to expand our branded network of highly influential
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to serve our increasingly diversified list of clients.
Please feel free to visit the Investor Based Brand Network (IBBN)
www.InvestorBasedBrandNetwork.com
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Source: NetworkNewsWire
Despite Cryptocurrency Skepticisms, Standout Players Continue to Ride the
Meteoric Rise of Bitcoin
New York, NY – December 19, 2017 –
NetworkNewsWire.com News
Coverage: While skepticism of bitcoin remains, this most popular of
the cryptocurrencies continues skyrocketing in value and gaining traction in
various industries. Cryptocurrencies like bitcoin are proving especially
valuable as a solution for high-risk industries like cannabis, which remains
largely unbanked in the United States due to marijuana’s continued status as a
Schedule 1 drug under the Controlled Substances Act. Enterprising companies like
SinglePoint, Inc. (OTC: SING) are utilizing cryptocurrency as a
means
of bypassing federal restrictions and providing cannabis businesses with the
financial transaction solutions they so critically need. SinglePoint recently
entered into a multiphase joint venture with Smart Cannabis Corp. (OTC: SCNA)
relative to this endeavor, and through this and other strategic joint ventures,
collaborations and internal application development is energetically striving to
provide a compliant payments solution for the cannabis industry. Other standout
players exemplifying the big potential of cryptocurrency-related ventures
include Bitcoin Services Inc. (OTC: BTSC), Square, Inc. (NYSE: SQ) and PayPal
Holdings, Inc. (NASDAQ: PYPL).
Whether you are skeptical about bitcoin and other cryptocurrencies or believe
the future of finance lies within them, the steamrolling growth of these virtual
currencies is undeniable. Earlier this year in Japan, cryptocurrencies became
nationally recognized as a legal form of payment, and initial coin offerings (ICOs)
have jumped from raising just a few hundred million dollars in 2016 to raising
more than $3 billion in 2017 (http://cnw.fm/zs5Ky). So far during December,
bitcoin has broken the $17,000 mark in terms of value per coin, which is an
astronomical rise from where the cryptocurrency sat at the commencement of
2017—just under $1,000 per coin as of Jan. 1 (http://cnw.fm/1KnDQ).
In serving unbanked and under-banked markets like the cannabis industry, the
potential of cryptocurrency is clear. And even if marijuana becomes federally
legal in the United States, the crypto solutions being pioneered by companies
like
SinglePoint, Inc. (OTC: SING) will continue to have application in
serving these and other enterprises—both high-risk and low.
SinglePoint has become a first mover in the U.S. with its proprietary bitcoin
payments solution, which enables cannabis merchants and customers to
respectively sell and purchase marijuana and marijuana-related products using
credit and debit cards through the vehicle of bitcoin. The solution is fully KYC-AML
compliant and can be deployed in any business, so while it is designed to serve
cannabis businesses its potential doesn’t end there.
The solution, known as SingleSeed Payments, can be used in any state where
marijuana enjoys legal status. Customers can sign up for the service at the
point of sale or set up an account prior to visiting a cannabis dispensary. They
can then conveniently make bitcoin-powered purchases using their debit and
credit cards, just as they would buy any type of merchandise in any other type
of store.
SinglePoint’s solution will also allow marijuana dispensaries to digitally track
their product inventories and upload related data, such as photos and product
descriptions. When a customer purchases a product, it will be automatically
deducted from the merchant’s inventory listings.
SinglePoint’s proprietary bitcoin exchange (app.singleseed.com) was
soft-launched on Nov. 15, and its official launch is slated for the first
quarter of 2018.
If at a future point the U.S. government legalizes marijuana at the federal
level, SinglePoint’s solution will be poised to spread even farther as an
optimal means of processing retail cannabis payments via cryptocurrency. The
company’s ultimate goal is to offer a fully integrated solution that will enable
businesses of all kinds—not just cannabis enterprises—to manage their day-to-day
operations from start to finish.
Key components of SinglePoint’s expansion strategies include acquisitions and
partnerships, and the company has been pursuing both with aplomb as it
solidifies its position within the cannabis and cryptocurrency markets. As
previously mentioned,
SinglePoint, Inc. (OTC: SING) recently entered into a joint venture with
Smart Cannabis (OTC: SCNA), having identified the joint venture as another prime
opportunity to make a major move into California before blanket marijuana
legalization takes place in that state in January. SinglePoint previously
acquired Discount Indoor Garden Supply in California (http://cnw.fm/DIeU0) and
also invested in California-based cannabis equipment supplier Convectium
(http://cnw.fm/5rA5a).
In partnering with Smart Cannabis, SinglePoint gains a unique opportunity to
capture significant market share within California’s explosive commercial
marijuana cultivation market. Smart Cannabis’ products include automated
greenhouse systems and a unique seed-to-sale app for marijuana growers. Through
this joint venture, the two companies plan to license Smart Cannabis’ SMARTAPP
and sell it to growers as well as incorporate bitcoin currency on the app,
making it both a seed-to-sale and payment mechanism.
SinglePoint has also formalized a previously announced joint venture agreement
with AppSwarm (SWRM) to begin developing a proprietary delivery application
allowing licensed delivery companies and licensed cannabis dispensaries to
securely and safely make in-home deliveries of marijuana products.
In yet another move to strengthen SinglePoint’s footing within the cannabis and
cryptocurrency markets, the company has signed an agreement with leading fintech
solutions provider Global Payout (GOHE) to advance and streamline the process
involved in delivering payment applications. MoneyTrac Technology, Inc. (“MTRAC”),
a majority-owned subsidiary of Global Payout, is at the vanguard of developing
various payment solutions within the cannabis industry and has executed numerous
recent partnerships to significantly expand its network within the marijuana
market. SinglePoint plans to leverage its own mobile payments expertise and
other mobile services to further bolster MTRAC’s technology platform and add
value to its services.
“Through strategic joint ventures and inside development of applications we are
pushing hard on providing a compliant solution to the cannabis industry,”
SinglePoint President Wil Ralston said, as quoted in a recent press release
(http://cnw.fm/jXT2M). “Our team and others have worked well in collaboration,
and believe we are not far away from an official launch of this solution in the
first quarter of 2018. This will be a major step for SinglePoint and our
partners.”
Strategic acquisitions have fostered significant corporate growth for
SinglePoint, and the company’s management team is preparing to make further
acquisitions and also to invest a substantial amount of equity and cash into
other companies during 2018.
As management noted in a recent recap of 2017 (http://cnw.fm/7uW3w), SinglePoint
entered into a rapid pace of growth at the outset of the year and recently
marked a corporate milestone as it notched a $100 million-dollar market cap.
SinglePoint has also brought in just over $1 million in funding and has access
to an additional $3 million, and the company has increased revenue and assets
throughout the year and foresees significant increases during 2018.
The validity of cryptocurrency-related ventures is also being exemplified in the
activities of players like Bitcoin Services (OTC: BTSC), which, among its
endeavors, provides bitcoin escrow services, develops and commercializes
blockchain software, and also mines cryptocurrency. BTSC’s stock has made an
impressive jump during 2017, starting out the year at just $0.01 per share and
climbing to a YTD high of $0.45 per share near the end of November. This year,
BTSC formed Crypto Capital Corp., a new subsidiary, to develop a crypto wallet
that will let users securely store various digital currencies in one wallet.
Major names like Square (NYSE: SQ) and PayPal (NASDAQ: PYPL) are also breaking
into the cryptocurrency space, with Square recently launching a trial that
allows some of its Cash App users to buy and sell bitcoin (http://nnw.fm/3kzWT)
and PayPal empowering its users to purchase bitcoin through marketplaces like
Paxful.
While the future of cryptocurrencies like bitcoin is hotly debated, there is no
denying the current superstar status of these virtual moneys. As the value of
bitcoin continues to climb and climb, more and more major players are looking
for ways to get involved. Enterprising companies like those named are
demonstrating that, whether cryptocurrency represents the future of commerce or
is just a fad with a bubble that is certain to burst, it continues to be a hot
commodity in the present and has definite application in serving major markets
like the cannabis industry.
For more information on SinglePoint please visit:
SinglePoint, Inc. (OTC: SING) or
www.SinglePoint.com
About CannabisNewsWire
CannabisNewsWire (CNW) is an information service that provides (1) access to our
news aggregation and syndication servers, (2) CannabisNewsBreaks that summarize
corporate news and information, (3) enhanced press release services, (4) social
media distribution and optimization services, and (5) a full array of corporate
communication solutions. As a multifaceted financial news and content
distribution company with an extensive team of contributing journalists and
writers, CNW is uniquely positioned to best serve private and public companies
that desire to reach a wide audience of investors, consumers, journalists and
the general public. CNW has an ever-growing distribution network of more than
5,000 key syndication outlets across the country. By cutting through the
overload of information in today’s market, CNW brings its clients unparalleled
visibility, recognition and brand awareness. CNW is where news, content and
information converge.
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forth above. References to any issuer other than the profiled issuer are
intended solely to identify industry participants and do not constitute an
endorsement of any issuer and do not constitute a comparison to the profiled
issuer. FN Media Group (FNM) is a third-party publisher and news dissemination
service provider, which disseminates electronic information through multiple
online media channels. FNM is NOT affiliated with CNW or any company mentioned
herein. The commentary, views and opinions expressed in this release by CNW are
solely those of CNW and are not shared by and do not reflect in any manner the
views or opinions of FNM. Readers of this Article and content agree that they
cannot and will not seek to hold liable CNW and FNM for any investment decisions
by their readers or subscribers. CNW and FNM and their respective affiliated
companies are a news dissemination and financial marketing solutions provider
and are NOT registered broker-dealers/analysts/investment advisers, hold no
investment licenses and may NOT sell, offer to sell or offer to buy any
security.
The Article and content related to the profiled company represent the personal
and subjective views of the Author, and are subject to change at any time
without notice. The information provided in the Article and the content has been
obtained from sources which the Author believes to be reliable. However, the
Author has not independently verified or otherwise investigated all such
information. None of the Author, CNW, FNM, or any of their respective
affiliates, guarantee the accuracy or completeness of any such information. This
Article and content are not, and should not be regarded as investment advice or
as a recommendation regarding any particular security or course of action;
readers are strongly urged to speak with their own investment advisor and review
all of the profiled issuer's filings made with the Securities and Exchange
Commission before making any investment decisions and should understand the
risks associated with an investment in the profiled issuer's securities,
including, but not limited to, the complete loss of your investment.
CNW & FNM HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.
This release contains "forward-looking statements" within the meaning of Section
27A of the Securities Act of 1933, as amended, and Section 21E the Securities
Exchange Act of 1934, as amended and such forward-looking statements are made
pursuant to the safe harbor provisions of the Private Securities Litigation
Reform Act of 1995. "Forward-looking statements" describe future expectations,
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differ materially from those projected in the forward-looking statements as a
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SinglePoint Expands Roster of
Strategic Agreements and Joint Ventures, Covers Upcoming Key Initiatives in
Recap of a Successful 2017
SEATTLE, WA / Dec 12, 2017 /
SinglePoint, Inc. (OTC PINK: SING) today announces key advances in its
corporate mission with the launch of additional joint ventures and the closing
of new deals within existing agreements. SinglePoint has achieved considerable
growth in 2017, and management today also provides a recap of achievements over
the last year, as well as details key initiatives for 2018.
Strategic Agreements and Joint Venturesz
Strategic acquisitions and partnerships play an integral role in SinglePoint’s
expansion strategies. The Company is pleased to report that it has formalized
its previously announced joint-venture agreement and made the first payment to
AppSwarm (OTC:SWRM) to start development on a proprietary delivery application
that will enable licensed delivery services and licensed dispensaries to safely
make in home deliveries. This agreement specifically strengthens SinglePoint’s
position in the cannabis and cryptocurrency markets.
SinglePoint has also signed an agreement with Global Payout (OTC:GOHE), a
leading provider of comprehensive and customized financial technology solutions
for domestic and international organizations, to advance and streamline the
process involving the delivery of payment applications. Global Payout’s majority
owned subsidiary MoneyTrac Technology, Inc. (“MTRAC”) is at the forefront of
developing a variety of payment solutions within the multibillion dollar
cannabis industry and has executed a number of partnerships in recent months
that has significantly expanded their network within one of the fastest growing
industries. It is SinglePoint’s intent to leverage its expertise in mobile
payments and other mobile offerings to further optimize MTRAC’s technology
platform and bring additional value to their services.
“Through strategic joint ventures and inside development of applications we are
pushing hard on providing a compliant solution to the cannabis industry. Our
team and others have worked well in collaboration, and believe we are not far
away from an official launch of this solution in the first quarter of 2018. This
will be a major step for SinglePoint and our partners,” states SinglePoint
President Wil Ralston.
SinglePoint also recently entered in a multi-phase joint venture with Smart
Cannabis Corp. (OTC:SCNA). The Company has identified this joint venture as
another opportunity to make a big move into the State of California before it
fully legalizes marijuana in January 2018. This move is projected to boost
California’s contribution to the U.S. marijuana industry (expected to reach $50
billion annually by 2026) by $7 billion. Smart Cannabis, whose products are
automated greenhouse systems, and a unique SMARTAPP software automation and
monitoring system, is one of the few profitable companies in the cannabis market
sector. Smart Cannabis Vice President Don Smith said, "Our joint venture with
SinglePoint provides both companies a unique opportunity to capture a large
marketshare of the explosive commercial cultivation market in California."
SinglePoint has already acquired one company in California and has invested in
another.
End of Year Recap, Forecast for Remainder of 2017
SinglePoint entered into a rapid pace of growth at the beginning of 2017, and
this month achieved a corporate milestone of notching a $100 million-dollar
market cap. Additionally, SinglePoint has brought in just over $1 million in
funding with access to an additional $3 million. Solidifying the financials
SinglePoint has increased revenue and assets throughout 2017 and anticipates
significant increases throughout 2018.
SinglePoint’s management team is highly optimistic that the Company will
continue to see significant revenue growth through the end of the fourth
quarter, as it currently has many opportunities in the pipeline. This momentum
is due to increased deal flow as the Company has grown throughout the cannabis
and cryptocurrency verticals.
Most recently SinglePoint entered into negotiations with a transactional bitcoin
platform expected to add considerable value to the Company and its payments
offerings. This week, management will head to Los Angeles to kick off its
bitcoin payments platform and take advantage of networking opportunities for
possible partnerships and acquisitions.
Recognizing the value of multimedia to brand awareness, SinglePoint is filming a
commercial to showcase the bitcoin solution. Once production is complete, the
Company plans to launch a national ad campaign to increase awareness for
consumers and drive new customers to utilize the platform.
SinglePoint has also sponsored an event in which dispensary and cultivators are
the main attendees. To sign new accounts, SinglePoint will run demos of its
bitcoin payments solution and aforementioned SMART APP recently licensed from
Smart Cannabis Corp.
Pivoting from its many successes in 2017 and its improved corporate and
financial position, SinglePoint forecasts a significant increase in revenues at
the end of the fourth quarter.
Outlook for 2018
As noted above, SinglePoint manages an aggressive expansion strategy, and has
signed multiple joint ventures and agreements that management believes will
provide fruitful results. Acquisitions have been a powerful catalyst of
corporate growth for SinglePoint, and management is gearing up to make
additional acquisitions and plans to invest a significant amount of equity and
cash into additional companies in 2018.
As the Company pursues continued growth through acquisitions and internal
developments, management remains bullish on bitcoin and blockchain technologies
that solve key issues in the cannabis markets. Capturing its share of
opportunity in these markets, SinglePoint will look for companies to acquire and
partner with to bring solutions to this major market.
About SinglePoint, Inc.
SinglePoint, Inc. (SING) has grown from a full-service mobile technology
provider to a publicly traded holding company. Through diversification into
horizontal markets, SinglePoint is building its portfolio by acquiring an
interest in undervalued subsidiaries, thereby providing a rich, diversified
holding base. Through its subsidiary company SingleSeed, the company is
providing products and services to the cannabis industry.
Connect on social media at:
https://www.facebook.com/SinglePointMobile
https://twitter.com/_SinglePoint_
https://www.linkedin.com/company/singlepoint
For more information visit: www.SinglePoint.com
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, 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.
Technical 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.
Contact:
SinglePoint, Inc.
www.SinglePoint.com
Greg Lambrecht
602.481.1544
Corporate Communications Contact:
NetworkNewsWire (NNW)
New York, New York
www.NetworkNewsWire.com
212.418.1217 Office
Editor@NetworkNewsWire.com
Source: SinglePoint, Inc.
SinglePoint and Smart Cannabis
Corp. Sign Joint Venture to Integrate, Distribute ‘SMART APP’ for Cannabis
Businesses
SEATTLE, WA / Dec 5, 2017 /
SinglePoint, Inc. (OTC PINK: SING) today announces a joint venture
relationship with Smart Cannabis Corporation (OTC:SCNA) (www.smartcannabis.com)
in which SinglePoint will license and market Smart Cannabis’ SMART APP, an
industry specific application that enables cultivators to control entire
operations from a mobile device. The SMART APP is leading the way in efficiently
cultivating cannabis through the introduction of IoT technology (Internet of
Things) to greenhouses. This SMART APP IoT technology measures everything from
nutrient levels in soil to watering cycles, to parts per million of carbon
dioxide in the air. SinglePoint and Smart Cannabis Corp. will also work together
to integrate SinglePoint’s bitcoin payment solution. This gives cultivators the
ability to collect payment for their sales via the payment application, making
for a safer and more secure transaction.
“Cultivators need a solution to secure their payments. We are looking to provide
a solution that can be used from seed to sale, the entire life cycle. The
transaction from a cultivator to a processor or dispensary can be huge, over
$150,000 per
transaction, and it is simply not safe or efficient to carry that kind of cash
to a transaction. We believe we can help secure and track this transaction with
our solution,” states SinglePoint President Wil Ralston.
Additionally, SinglePoint and Smart Cannabis Corp. will work together to
finalize a track and trace solution. This solution, already available for Smart
Cannabis cultivator customers, be developed by SinglePoint and deployed to a
consumer base that will bring the solution full circle.
“Consumers who walk into a dispensary, where a cultivator is using our system,
will be able to see how, when, and where the product was grown. There is no
other system on the market like it and we plan to be the first company to use
transparent and traceable blockchain technology to bring this “track and trace”
product knowledge to consumers,” said Ralston.
John Taylor, president of Smart Cannabis Corp., said the company is excited to
“team up” with SinglePoint.
“They are an ideal partner for us to expand our business beyond California for
both our current products, our line of innovative automation, and our trace and
tracking software solution for cultivators. This joint venture with SinglePoint
will give us the ability to market our products on a broader scale. In addition,
we believe the uptrend in cryptocurrency use in the cannabis marketplace will
continue to expand, and being part of their exchange will help us grow our base
business.”
SinglePoint is moving into what has been labeled as California’s “Green Rush” in
a big way. Through joint ventures and acquisitions the company has solidified
its beachhead in a state that projects annual cannabis sales around $7 billion.
According to Grand View Research, the medical marijuana market is expected to
reach a value of USD $55.8 billion by 2025. SinglePoint and Smart Cannabis
Corporation are moving into this major market offering top tier solutions that
will drive revenue for both companies.
“We are very impressed with the results that Smart Cannabis has quickly achieved
in California, and we believe this relationship with them provides a great deal
of synergy, both in California and in the nationwide cannabis business. The
company is building a truly innovative product. Our expertise in payment
processing and point of sale systems is a perfect fit for the track and trace
technology they have developed to date. Our overall goal is to have a fully
integrated solution for businesses to manage their day-to-day operations from
beginning to end, and Smart Cannabis operates to that same goal with their
automated greenhouse solutions. We are glad they have turned to us to
collaborate on their software solutions, and to be a part of our bitcoin
exchange,” said Greg Lambrecht, CEO and founder of SinglePoint.
About SinglePoint, Inc.
SinglePoint, Inc. (SING) has grown from a full-service mobile technology
provider to a publicly traded holding company. Through diversification into
horizontal markets, SinglePoint is building its portfolio by acquiring an
interest in undervalued subsidiaries, thereby providing a rich, diversified
holding base. Through its subsidiary company SingleSeed, the company is
providing products and services to the cannabis industry.
Connect on social media at:
https://www.facebook.com/SinglePointMobile
https://twitter.com/_SinglePoint_
https://www.linkedin.com/company/singlepoint
For more information visit: www.SinglePoint.com
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, 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.
Technical 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.
Contact:
SinglePoint, Inc.
Greg Lambrecht
602.481.1544
Communications Contact:
NetworkNewsWire (NNW)
New York, New York
www.NetworkNewsWire.com
212.418.1217 Office
Editor@NetworkNewsWire.com
Source: SinglePoint, Inc.
Companies Offer Intriguing Investment Opportunities as Bitcoin Continues
Smashing Records
New York, NY – November 29, 2017 –
NetworkNewsWire.com News
Coverage: In just two months’ time, rising superstar bitcoin has
almost doubled its trading record. This leading cryptocurrency, which has
continued to shatter its own records again and again this year, broke the $5,000
ceiling in September and is now closing in on $10,000 just under two months
later.
Bitcoin is definitely a hot ticket among investors right now, but not all
investors want to put money into this cryptocurrency directly. Various
enterprising companies emerging within the marketplace are providing promising
ancillary investment options for those seeking to cash in on bitcoin’s rising
star without investing directly in it. Such companies include
SinglePoint, Inc. (OTC: SING), Bitcoin Investment Trust (OTC: GBTC),
Bitcoin Services, Inc. (OTC: BTSC), HIVE Blockchain Technologies Ltd. (TSX-V:
HIVE) and Riot Blockchain, Inc. (NASDAQ: RIOT).
On Nov. 15, holding company
SinglePoint (OTC: SING) soft-launched its much-anticipated proprietary
bitcoin exchange (app.singleseed.com), which is aimed at solving payment
problems related to high-risk transactions — specifically those plaguing another
red-hot industry: cannabis.
In the United States, SinglePoint has become a first mover with its proprietary
bitcoin payments solution, which is making it possible for marijuana vendors and
users to conduct transactions using debit and credit cards via the vehicle of
bitcoin. Due to continued federal restrictions, the majority of cannabis
merchants operating in the U.S. have had to conduct their transactions in cash
only, which poses many problems and inconveniences. SinglePoint’s innovative
solution, however, is changing all that.
Designed to serve cannabis businesses but also having application that goes
beyond them, SinglePoint’s solution is fully KYC-AML compliant and can be used
by any business. For marijuana vendors specifically, it can be utilized within
any of the states where marijuana currently has a legal status. It is designed
as a payment service that enables instant bitcoin-powered purchases using credit
and debit cards. Through a user-friendly signup form and ID verification,
customers can set up accounts online prior to visiting a cannabis merchant, or
they can sign up in just seconds at the point of sale.
In addition to making card-based transactions possible for “unbankable” cannabis
vendors, SinglePoint’s solution enables dispensaries to digitally track their
inventories and upload inventory-related data, including photos and product
descriptions. Once a customer purchases a product, it is automatically deducted
from a dispensary’s inventory listings.
Beyond changing the game for U.S. cannabis businesses, this pioneering payment
exchange can, and likely will, go even further, enabling businesses of all types
— in both high-risk and low-risk markets — to conduct instant card-based
transactions that are powered by bitcoin.
Through an aggressive, acquisition-based growth strategy, SinglePoint continues
finding great success. Its price per share rose from $0.01 in early January 2017
to more than $0.07 in November. The highly anticipated launch of the company’s
bitcoin payments solution serves as yet another indicator of SinglePoint’s
sustained growth.
An updated investor kit (http://cnw.fm/JM9ee) details SinglePoint’s products,
leadership team and investor highlights and provides key insights into the
company’s goals.
Another entity that enables individuals to invest in bitcoin without actually
having to buy, store or safeguard the cryptocurrency is Bitcoin Investment Trust
(OTCQX: GBTC), a U.S.-based, open-ended grantor trust that is sponsored by
Grayscale Investments. Invested exclusively in bitcoin, GBTC has stood out as
the first publicly quoted bitcoin investment vehicle, allowing U.S.-based
investors to gain exposure to bitcoin’s price gains through a traditional
investment vehicle without the need to purchase, store or protect bitcoin. GBTC
was named among OTC Market Group’s “OTCQX Best 50” for 2017, and its price per
share has skyrocketed in the past year, soaring from $103.30 on Nov. 28, 2016,
to $1,297.98 as of Nov. 27, 2017.
Another player offering bitcoin-related ancillary services is Bitcoin Services,
Inc. (OTC: BTSC). Like SinglePoint, BTSC began 2017 with a price per share of
just $0.01 but has since climbed to $0.35 as of Nov. 27. Among its offerings,
BTSC provides bitcoin escrow services and also develops and commercializes
blockchain software. BTSC is additionally engaged in mining cryptocurrency.
During 2017, BTSC formed a new subsidiary, Crypto Capital Corp., with the
intention of developing a crypto wallet that allows users to securely store
multiple digital currencies in one wallet.
Listed on Canada’s TSX.V exchange, HIVE Blockchain Technologies (TSX-V: HIVE) is
another crypto-related player that stands out, having made its mark as the first
publicly listed blockchain infrastructure company to create a bridge between
blockchain/cryptocurrencies and traditional capital markets. Growth-oriented
HIVE is engaged in a strategic partnership with Genesis Mining Ltd., with the
aim of building the next generation of blockchain infrastructure. The company
owns cutting-edge GPU-based digital currency mining facilities in Iceland that
produce mined digital currency around the clock, and HIVE further has an option
to acquire at least three more data centers in Iceland and/or Sweden from
Genesis Mining. HIVE has the ability to accelerate the blockchain sector’s
development through traditional capital markets while simultaneously creating
long-term value for shareholders. HIVE boasts low working capital requirements,
allowing the strategic sale of coins for maximum profit; and the company’s
robust balance sheet also offers the flexibility to pursue additional blockchain
opportunities.
A builder and supporter of blockchain technologies that has garnered huge
investor attention in recent weeks is Riot Blockchain, Inc. (NASDAQ: RIOT),
which formerly operated as Bioptix, Inc. In October, Bioptix announced it was
rebranding and entering the digital currency space, with a focus on purchasing
cryptocurrency and blockchain businesses. In the days before this announcement
had even been officially made, the penny stock almost doubled in value. While
RIOT still operates its Bioptix business segment, the company’s new focus is on
becoming a premier blockchain authority and supporter and on providing
investment exposure to the bitcoin and blockchain ecosystems.
Despite naysayers who make gloomy predictions of a bitcoin bubble, the
cryptocurrency continues its incredible climb and a single bitcoin is now seven
times more valuable than an ounce of gold. For those seeking alternative routes
to bitcoin investment, the named companies may provide intriguing opportunities.
For more information on SinglePoint please visit:
SinglePoint, Inc. (OTC: SING) or
www.SinglePoint.com
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News Source: CannabisNewsWire
Meteoric Rise of Bitcoin, Open Embracing of Blockchain by Sector Majors
New York, NY – November 16, 2017 –
NetworkNewsWire.com News
Coverage: The price of bitcoin recently hit an all-time high of more
than $7,800, edging closer to Goldman Sachs’ (NYSE: GS) forecast that the
cryptocurrency will hit $8,000. This projection echoes increasing interest and
application for cryptocurrency, as demonstrated by several public companies such
as
high-tech payment processing solutions provider
SinglePoint, Inc. (OTC PINK: SING),
which stands at the nexus of two roaring industries: cryptocurrency and
cannabis. The widespread applicability of blockchain technology to multiple
industries, combined with investor’s insatiable appetite for bitcoin and other
cryptocurrencies, has also lit a fire under sector players Bitcoin Investment
Trust (OTC: GBTC), HIVE Blockchain Technologies Ltd. (TSX-V: HIVE), Global
Blockchain Technologies Corp. (OTC: BLKCF) and Bitcoin Services, Inc. (OTC: BTSC).
SinglePoint, Inc. (OTC PINK: SING) in 2010 cut its teeth in payment
innovations as a pioneer of
payment enabled text
messaging. But as CEO of SinglePoint, Greg Lambrecht recently explained in
an interview, the company is not resting on its laurels and is making
significant strides to stay ahead of the curve (http://cnw.fm/gH8Pw).
Earlier this week, the company announced the soft launch of a bitcoin exchange (app.singleseed.com)
designed to solve the specific payment challenges in the cannabis industry.
Recognizing that the cannabis payments space lacks a leading solutions provider,
SinglePoint cites demand for convenience as the primary driver for building the
app, which will process credit or debit cards – something unique to the
cash-only transaction model currently used in the cannabis industry due to
federal regulations and banks’ hesitancy to provide services to cannabis
businesses. Through an easy-to-use sign up form and ID verification,
SinglePoint’s exchange will enable customers to set up their account online
beforehand or sign up within seconds directly at the point of sale.
“We are very pleased with what we have built out and executed on with this
solution. SinglePoint now has a base to continue innovating on for the cannabis
payments space. Businesses are contacting us daily about payment services and
with this solution we feel confident we will be on boarding many of these
customers. This is just the beginning of a solution that will ultimately serve
cannabis businesses much beyond payments. The overall goal is to have a fully
integrated solution for businesses to manage their day-to-day operations from
beginning to end,” Wil Ralston, president of SinglePoint stated in the press
release (http://cnw.fm/uE1c7).
The new solution can be utilized by any business from convenience stores to
dispensaries in the 29 legal states and District of Columbia.
SinglePoint also utilizes an aggressive acquisition-based growth strategy, and
has snapped up four cannabis companies in 2017 with two more in the hopper
slated for acquisition before the year’s end. Given that credit card payment
solutions are not currently viable for dispensaries in states where marijuana is
legal, there is a significant opportunity within the multi-billion dollar global
cannabis market for SinglePoint’s SingleSeed Payments subsidiary to
solve the payment processing dilemma
while fully leveraging
cryptocurrency and blockchain technology. Simultaneously, the company aims
to deliver to the cannabis and other high-risk sectors the same transparency,
ease of use, and situational awareness that blockchain is poised to deliver in
other industries.
SinglePoint also recently signed an LOI (http://cnw.fm/qSm2a) with mobile app
developer AppSwarm, Inc. (OTC: SWRM), to offer a B2B/B2C services app geared to
the cannabis industry that will serve as the base for other productivity and
workflow improvement applications. The AppSwarm LOI came soon after that
company’s announcement (http://cnw.fm/ie67D) of a "last-mile" delivery app for
local groceries and pharmacies, clearly demonstrating how SinglePoint
understands perfectly the confluence of all these technologies, and how they
will collectively reshape the world of retail.
Blockchain technology, as a decentralized (distributed) ledger that can track
anything from cryptocurrencies and transaction records to RFID-tagged physical
assets, is ideal for verification tasks. As such, the idea of a
cryptographically secure ID
verification platform like the one SinglePoint is rolling out, which not only
allows users to sign up in seconds at the point of sale, but also provides
bitcoin-powered convenience (which consumers have come to expect when making
debit or credit card purchases), is something that should appeal to all parties
in the space.
Regulators get the
security of knowing there is a redundant and decentralized real-time record of
production, shipments and transactions, while dispensaries get cheaper and
better workflows, as well as improved marketing and the kinds of user
experiences that promote repeat business. And consumers get a simplified, secure
and easy to use purchasing regimen that is already familiar to them.
The same game-changing impact that blockchain technology is having on industries
like banking, where it was
recently estimated by Santander InnoVentures that the technology could save
banks as much as $20 billion a year by 2022, will help to cement the still
controversial cannabis market in the U.S. and around the globe. The logistical
benefits of eliminating the need for a centralized authority, allowing engaged
parties to rely instead on the power of the distributed blockchain and features
like self-executing smart contracts, is something which could give the cannabis
industry just the kind of inherent respectability it needs.
Bitcoin Investment Trust (OTCQX: GBTC) certainly understands the potential for
crypto and blockchain, given that it is sponsored by Grayscale Investments,
which was established by the Digital Currency Group in 2013 and also sponsors
the Ethereum Classic and Zcash Investment Trusts. As the first entity whose
shares are publicly quoted securities, solely invested in and deriving value
from the price of bitcoin, GBTC is a significant milestone for the crypto space.
It is worth noting that Grayscale recently updated GBTC shareholders about plans
to distribute the roughly 173,014 coins (units) of Bitcoin Cash held by the
Trust. GBTC gives investors considerable exposure to bitcoin via a traditional
investment vehicle with shares titled in the investor’s name and which can be
bundled into traditional IRA, Roth IRA, and other brokerage/investor accounts.
Another key blockchain player is HIVE Blockchain Technologies Ltd. (TSX-V:
HIVE), shares of which hit a new 52-week high of $5.83 a share on November 3,
alongside the recent spike of the bitcoin price. The company signed a binding
letter of agreement in late October with Genesis Mining to complete a GPU mining
facility for cryptocurrency in Sweden, a country with a solid track record for
being pro cashless, and warmly embracing crypto. Anticipated for completion in
late December, this new facility will increase the company’s already beefy
Iceland-based mining capacity by some 175 percent, and bring HIVE one step
closer to the company’s goal of bridging the gap from the blockchain sector to
traditional capital markets.
Global Blockchain Technologies (OTC: BLKCF), a Canadian investment banking
company focused on delivering a basket of blockchain-centric holdings to its
investors, recently made a big push into crypto mining with entry into an
agreement to acquire a 49.9 percent interest in novel, streaming model-based
miner, Coinstream. The company plans to spin-out its pure play cryptocurrency
mining division, Global Blockchain Mining Corp., and stands to acquire some
12,500 bitcoins over the life of the streaming contracts. An ingenious move
given that Coinstream has put together 10MW of power in dedicated, purpose-built
data centers in Manitoba, where energy is under $0.04/kWh. Looks like streaming
contracts for future production aren’t just for the precious metals or commodity
markets anymore.
Having climbed more than 900 percent year-to-date, Bitcoin Services (OTC: BTSC)
is another good example of crypto-exposed share price appreciation being driven,
in part, by the meteoric rise of the price of bitcoin. This bitcoin miner and
blockchain software developer began mining the spend-anywhere digital cash known
as Dash in Q1 2017 and recently created a new subsidiary, Crypto Capital,
focused on implementing a crypto wallet solution. Bitcoin Services is also one
of the instrumental bitcoin escrow service providers helping to keep the
blockchain healthy.
Bitcoin rebounded nicely over the first two days of the week of November 13,
trading around $6,600 after having been pushed down under the $6,000 mark over
the weekend, amid the BCH hype and debut of Bitcoin Gold. With major tech
players from IBM to Microsoft fully engaged in developing blockchain solutions
for multiple industries and increasing interest pouring into the space across
multiple cryptocurrencies from every class of investor, now is the time to comb
through the smaller companies with compelling access to this sector.
For more information on SinglePoint please visit:
SinglePoint, Inc. (OTC PINK: SING) or www.SinglePoint.com
About CannabisNewsWire
CannabisNewsWire (CNW) is an information service that provides (1) access to our
news aggregation and syndication servers, (2) CannabisNewsBreaks that summarize
corporate news and information, (3) enhanced press release services, (4) social
media distribution and optimization services, and (5) a full array of corporate
communication solutions. As a multifaceted financial news and content
distribution company with an extensive team of contributing journalists and
writers, CNW is uniquely positioned to best serve private and public companies
that desire to reach a wide audience of investors, consumers, journalists and
the general public. CNW has an ever-growing distribution network of more than
5,000 key syndication outlets across the country. By cutting through the
overload of information in today’s market, CNW brings its clients unparalleled
visibility, recognition and brand awareness. CNW is where news, content and
information converge.
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DISCLAIMER: CannabisNewsWire (CNW) is the source of the Article and content set
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CNW HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.
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SinglePoint (SING) Launches
Proprietary Bitcoin Exchange to Solve Payment Processing Issues in High-Risk
Markets
SEATTLE, WA / Nov. 15, 2017 /
SinglePoint, Inc. (OTC PINK: SING) today announces the soft launch of a
bitcoin exchange aimed at solving payment issues plaguing the cannabis industry.
SinglePoint sees vast opportunity for technology to solve payment issues related
to high-risk transactions, specifically in the cannabis market. There is yet to
be a standout leader in the cannabis payments space, and SinglePoint is looking
to solidify its position through the company’s relationships and history of
mobile payment offerings. The new solution can be utilized by any business from
convenience stores to dispensaries in the 29 legal states and District of
Columbia. For more information, or to sign up for the exchange, visit
app.singleseed.com
Convenience has been the No. 1 driver for building this application, which is
designed as a payment service to make instant
bitcoin-powered purchases possible when all you have is a credit or debit card.
Through an easy-to-use sign up form and ID verification, customers will be able
to set up their account online beforehand or will be able to sign up within
seconds directly at the point of sale. This model is similar to solutions
utilized abroad, but SinglePoint has not yet seen this feature offered in the
United States.
“We are very pleased with what we have built out and executed on with this
solution. SinglePoint now has a base to continue innovating on for the cannabis
payments space. Businesses are contacting us daily about payment services and
with this solution we feel confident we will be on boarding many of these
customers. This is just the beginning of a solution that will ultimately serve
cannabis businesses much beyond payments. The overall goal is to have a fully
integrated solution for businesses to manage their day-to-day operations from
beginning to end,” states Wil Ralston, president of SinglePoint.
According to a new report by Grand View Research, the cannabis market is
projected to reach $55.8 billion by 2025. This presents a major opportunity for
SinglePoint to generate additional revenue through platform fees and
transactional fees.
Beyond payments innovation, SinglePoint is continuing to negotiate new
acquisitions in the cannabis market. Company management will be at MJ BIZCON,
taking place November 14 – 17 in Las Vegas, and has set up multiple meetings for
continued deal flow. For more information or to set up a meeting please contact
Support@SinglePoint.com.
About SinglePoint, Inc. SinglePoint, Inc. (SING) has grown from a full-service
mobile technology provider to a publicly traded holding company. Through
diversification into horizontal markets, SinglePoint is building its portfolio
by acquiring an interest in undervalued subsidiaries, thereby providing a rich,
diversified holding base. Through its subsidiary company SingleSeed, the company
is providing products and services to the cannabis industry.
Connect on social media at:
https://www.facebook.com/SinglePointMobile
https://twitter.com/_SinglePoint_
https://www.linkedin.com/company/singlepoint
For more information visit: www.SinglePoint.com
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, 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.
Technical 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.
Contact:
SinglePoint, Inc.
Greg Lambrecht
602.481.1544
Source: SinglePoint, Inc.
As Bitcoin Boom Continues, Major Players are Validating Promising Forecasts for
its Limitless Value Potential
New York, NY – October 31, 2017 –
NetworkNewsWire.com News
Coverage: The cryptocurrency known as bitcoin has seen an incredible
boom since the start of 2017, and its bullishness has continued during the month
of October, with the cryptocurrency once again breaking its own trading record
and surpassing $6,000 on all major cryptocurrency exchanges on October 20. Some
experts believe the value of bitcoin will spike much higher than this and that
it has only just begun its
climb
in value. Investors have glommed onto bitcoin’s rising star en masse this year,
and many companies have been pursuing means of profitably utilizing this most
popular of the cryptocurrencies. One standout company is employing bitcoin to
serve the needs of another booming market: legalized marijuana.
SinglePoint, Inc. (OTC: SING) is very close to launching its own bitcoin
exchange aimed at solving the current problems of unbankability for cannabis
businesses in the United States. The promise of bitcoin’s success as a means of
giving cannabis companies non-cash payment options and other financial amenities
is clear, and bitcoin’s increasing mainstream adaptation is evidenced in the
activities of players like Bitcoin Investment Trust (OTC: GBTC), Bitcoin
Services, Inc. (OTC: BTSC), Amazon.com, Inc. (NASDAQ: AMZN) and Overstock.com,
Inc. (OTC: OSTK).
Because the availability of bitcoin has a limit (its mining capability will
someday cap off at 21 million coins, and the number of bitcoins mined since the
cryptocurrency’s inception currently sits at around 16.5 million), it is
considered a scarce asset, and, due to its scarcity, many believe its value
potential will prove to be unlimited and its price will continue to climb—even
after no more bitcoins can be mined. Companies currently engaged in bitcoin-related
enterprises are banking on this limitless value potential and for bitcoin to
continue shining as a red-hot commodity.
SinglePoint, Inc. (OTC: SING) is one company that has found promising
applications for bitcoin as a means to help solve banking issues within the U.S.
cannabis market—another investment space that is currently blossoming with no
end to its growth in sight. Despite this, companies in the cannabis industry are
currently blocked from accessing traditional banking services in the U.S. due to
the Controlled Substances Act, which categorizes marijuana as a schedule I
controlled substance. Even in states where cannabis has been legalized,
marijuana enterprises are plagued by a lack of banking options, which largely
forces them to conduct cash transactions. SinglePoint’s cannabis cryptocurrency
solution, which is now mere weeks away from launching in beta form, could help
effectively resolve this.
The new bitcoin exchange being developed by SinglePoint will enable cannabis
businesses to deploy a user-friendly method of accepting credit and debit card
payments without the need for cooperation from banks or the FDIC. The company is
developing an in-house solution that will allow cannabis consumers to obtain
bitcoin at any point of sale and to
instantly make bitcoin-powered purchases using debit and credit cards.
SinglePoint is an early-mover in bringing such technology to the U.S., and its
bitcoin application will be fully KYC-AML compliant. Users can create an account
online or sign up in seconds at the point of sale.
SinglePoint’s solution will further aid cannabis dispensaries by enabling them
to upload inventory-related information, like product descriptions and photos,
and digitally track their inventory. When a customer buys a product, it will be
automatically deducted from the dispensary’s inventory listings.
SinglePoint’s innovative new payment exchange will undoubtedly be a boon for the
cannabis market, but its applicability does not end there. The usefulness of
this product could—and likely will—extend far beyond the marijuana market,
making instant, card-based bitcoin-powered purchases possible for a variety of
businesses, both in high-risk and low-risk markets.
SinglePoint has found great success through an aggressive, acquisition-based
growth strategy, and investors have been sitting up and taking notice. In early
January 2017, SinglePoint’s price per share was at $0.01; as of October 27,
2017, that price had risen to $0.0599. The launch of the company’s bitcoin
payments solution will serve as yet another mark of SinglePoint’s sustained
growth.
An updated investor kit
detailing SinglePoint’s products, leadership team and investor highlights offers
key insights into the company’s goals.
Further testament to the increasing power and adoption of bitcoin is evidenced
in the movement of entities like Bitcoin Investment Trust (OTCQX: GBTC), which
became the first publicly quoted bitcoin investment vehicle and which Wall
Street analyst Tom Lee recently called “the only game in town” for U.S.-based
investors who want to gain exposure to bitcoin http://cnw.fm/c1WB4. Lee further
predicts that Bitcoin Investment Trust could rise by 250 percent or more by 2022
if bitcoin’s value reaches the $25,000 target he has set for it to reach by that
year. Bitcoin Investment Trust empowers investors to gain exposure to bitcoin’s
price gains through a traditional investment vehicle, eradicating the necessity
of buying, storing and safeguarding bitcoin. Bitcoin Investment Trust is an
open-ended grantor trust sponsored by Grayscale Investments that is U.S.-based
and invested exclusively in bitcoin. It was named one of OTC Market Group’s
“OTCQX Best 50” for 2017.
Another cryptocurrency player that is achieving growth similar to SinglePoint’s
is Bitcoin Services, Inc. (OTC: BTSC). Like SinglePoint, BTSC was at $0.01 per
share early on in 2017, but it had reached $0.0605 as of October 27. BTSC
previously announced its own plans to create a proprietary blockchain software,
intending to highlight online marketplace, file storage and identity management
applications relative to cryptocurrency. During Q1 of 2017, BTSC began mining
Dash, its own cryptocurrency. The company also created a new subsidiary this
year, Crypto Capital Corp., for the purpose of developing a cryptocurrency
wallet that would enable users to securely store multiple digital currencies in
one wallet. At present, BTSC is focused on both mining bitcoin and developing
its blockchain software.
The acceptance of bitcoin by e-commerce giants like Amazon.com, Inc. (NASDAQ:
AMZN) and Overstock.com, Inc. (NASDAQ: OSTK) is further evidence of the
cryptocurrency’s growing mainstream adoption. Currently, Amazon does not
directly accept bitcoin, instead allowing shoppers to use it in a roundabout way
through the Purse.io app. However, suppositions are flying that this could
change very soon due to Amazon’s rumored intention to begin supporting bitcoin
as a payment method (http://cnw.fm/lp2U0). Overstock.com does currently directly
accept bitcoin and has done so since January 2014.
There is no doubt that bitcoin currently represents big game for investors, and
optimistic forecasts see no ceiling for this cryptocurrency’s growth. For
enterprising companies seeking profitable means of utilizing bitcoin, the future
seems to be paved with virtual gold.
For more information on SinglePoint please visit:
SinglePoint, Inc. (OTC: SING) or
www.SinglePoint.com
About CannabisNewsWire
CannabisNewsWire (CNW) is an information service that provides (1) access to our
news aggregation and syndication servers, (2) CannabisNewsBreaks that summarize
corporate news and information, (3) enhanced press release services, (4) social
media distribution and optimization services, and (5) a full array of corporate
communication solutions. As a multifaceted financial news and content
distribution company with an extensive team of contributing journalists and
writers, CNW is uniquely positioned to best serve private and public companies
that desire to reach a wide audience of investors, consumers, journalists and
the general public. CNW has an ever-growing distribution network of more than
5,000 key syndication outlets across the country. By cutting through the
overload of information in today’s market, CNW brings its clients unparalleled
visibility, recognition and brand awareness. CNW is where news, content and
information converge.
Receive Text Alerts from CannabisNewsWire: Text "Cannabis" to 21000
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Please see full terms of use and disclaimers on the CannabisNewsWire website
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DISCLAIMER: CannabisNewsWire (CNW) is the source of the Article and content set
forth above. References to any issuer other than the profiled issuer are
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endorsement of any issuer and do not constitute a comparison to the profiled
issuer. FN Media Group (FNM) is a third-party publisher and news dissemination
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The Article and content related to the profiled company represent the personal
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Author has not independently verified or otherwise investigated all such
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readers are strongly urged to speak with their own investment advisor and review
all of the profiled issuer's filings made with the Securities and Exchange
Commission before making any investment decisions and should understand the
risks associated with an investment in the profiled issuer's securities,
including, but not limited to, the complete loss of your investment.
CNW & FNM HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.
This release contains "forward-looking statements" within the meaning of Section
27A of the Securities Act of 1933, as amended, and Section 21E the Securities
Exchange Act of 1934, as amended and such forward-looking statements are made
pursuant to the safe harbor provisions of the Private Securities Litigation
Reform Act of 1995. "Forward-looking statements" describe future expectations,
plans, results, or strategies and are generally preceded by words such as "may",
"future", "plan" or "planned", "will" or "should", "expected," "anticipates",
"draft", "eventually" or "projected". You are cautioned that such statements are
subject to a multitude of risks and uncertainties that could cause future
circumstances, events, or results to differ materially from those projected in
the forward-looking statements, including the risks that actual results may
differ materially from those projected in the forward-looking statements as a
result of various factors, and other risks identified in a company's annual
report on Form 10-K or 10-KSB and other filings made by such company with the
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News Source: CannabisNewsWire
SinglePoint and AppSwarm Sign
LOI to Launch Cannabis-Focused Applications
SEATTLE, WA / Oct. 24, 2017 /
SinglePoint, Inc. (OTC PINK: SING) has entered into a Letter of Intent
with AppSwarm (OTC:SWRM) to conduct a joint roll-out of mobile applications
specifically geared to the cannabis industry. The applications will be branded
and marketed under SinglePoint’s SingleSeed subsidiary (www.SingleSeed.com),
while AppSwarm (www.app-swarm.com/) will provide the necessary technical support
and app development.
SinglePoint and AppSwarm plan to launch the first application within 90 days of
the LOI, as well as release an additional two applications every 90 days
thereafter. The first application will provide a base for additional
applications, and will be a service-based application for the
business-to-business (B2B) and business-to-consumer (B2C) markets.
The cannabis market is ripe for technology that can improve efficiency and work
flows. SinglePoint and AppSwarm intend to develop mobile applications that
address these industry needs by creating a system that allows a business to see
what is going on in the market around them. The mobile apps will also streamline
the consumer experience by adding in SinglePoint’s payment options, among other
features.
“We are very excited to roll-out these applications. We have worked on projects
like these before and now we really feel
we have both the capital and partner to make a full court press on a major
launch and huge value add to the cannabis industry,” states SinglePoint CEO Greg
Lambrecht.
AppSwarm is a strong partner for SinglePoint, as many of the applications the
Company is looking to launch are already working and live within the AppSwarm
portfolio. SinglePoint will now rebrand specific applications and add additional
feature sets designed specifically for the cannabis clientele.
“The roll-out of the cannabis applications represents an exciting opportunity
for us at AppSwarm, as we have the expertise to build and launch applications
that the market wants. This is a win-win situation for both companies, allowing
us to leverage one another’s expertise and grow together,” states AppSwarm CEO
Ron Brewer.
The cannabis market is projected to reach $50 billion by 2025. Currently,
cannabis is legal in 29 states and the District of Columbia. These mobile
applications will be available for use in all states. As new states legalize the
companies will look to grow alongside the new states opening to legalized
cannabis sales.
About SinglePoint, Inc. SinglePoint, Inc. (SING) has grown from a full-service
mobile technology provider to a publicly traded holding company. Through
diversification into horizontal markets, SinglePoint is building its portfolio
by acquiring an interest in undervalued subsidiaries, thereby providing a rich,
diversified holding base. Through its subsidiary company SingleSeed the company
is providing products and services to the cannabis industry. For more
information, visit www.SinglePoint.com or www.SingleSeed.com
Connect on social media:
www.facebook.com/SinglePointMobile
http://www.twitter.com/_SinglePoint_
www.linkedin.com/company/SinglePoint
www.youtube.com/user/SinglePointMobile
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, 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. Technical 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.
Contact:
SinglePoint, Inc.
Greg Lambrecht
602.481.1544
Communications Contact:
NetworkNewsWire (NNW)
New York, New York
www.NetworkNewsWire.com
212.418.1217 Office
Editor@NetworkNewsWire.com
Source: SinglePoint, Inc.
Bitcoin’s Recent Gains Spell Opportunity for Cryptocurrency Companies
New York, NY – October 24, 2017 –
NetworkNewsWire.com News
Coverage: As one of the oldest means of exchange in the world, gold is
always on the radar of the investment community. However, with gold currently
valued at roughly $1,286.10 per ounce following a steep decline in the wake of
the U.S. Presidential election, many investors are seeking out
more
fruitful investment options. In a November 2016 article titled “Bitcoin Might Be
A Better Investment Than Gold” (http://cnw.fm/Yrb1K), a contributor to Seeking
Alpha praised bitcoin’s recent flourish, and the cryptocurrency has continued to
climb in the months since. On August 6, 2017, bitcoin soared to a new record of
$3,000. Just a week later, it eclipsed the $4,000 mark, more than quadrupling
its value since January. Bitcoin continued its blockbuster climb in recent
weeks, hitting $6,147.07 on October 21, 2017, as the cryptocurrency busted out
another record high, according to data from industry website Coindesk. For
prospective investors, this climb has created an opportunity to capitalize on
the most significant evolution of the global currency landscape in decades.
Companies like
SinglePoint, Inc. (OTC PINK: SING), Bitcoin Services, Inc. (OTC: BTSC),
Bitcoin Investment Trust (OTC: GBTC), Advanced Micro Devices, Inc. (NASDAQ: AMD)
and Nvidia Corp. (NASDAQ: NVDA), by targeting various niches within the larger
cryptocurrency space, are positioned to reap the benefits of bitcoin’s climb.
Gold’s recent performance highlights the current demand for alternative
investment options. For more than half a century beginning in 1879, Americans
had the option to trade in U.S. dollars for gold. This all changed in 1933, when
the United States went off the gold standard following a joint resolution,
eliminating the right of creditors to demand payment in the precious metal. In
1971, President Richard Nixon completely severed the link between the dollar and
gold, transforming the greenback into a fiat currency, invalidating the Bretton
Woods Agreement, and effectively driving the nail into the coffin of the
so-called gold standard around the world. Today, Federal Reserve notes are
backed solely by the “full faith and credit” of the U.S. government, but a
shifting political landscape has created demand for decentralized monetary
systems that operate independently of federal institutions. In January 2009,
rapidly advancing technology facilitated the next evolution of currency when
bitcoin, recognized as the first decentralized digital currency (http://cnw.fm/HcH24),
hit the international stage. By 2015, more than 100,000 merchants and vendors
(http://cnw.fm/n9QNB) around the globe were accepting bitcoin as payment.
To date, 2017 has proven to be a landmark year for the cryptocurrency landscape.
Back in April, the Japanese government amended a bill to officially recognize
bitcoin and other cryptocurrencies as legal tender, and other countries are
beginning
to follow suit. This rising wave of global acceptance isn’t going unnoticed in
North America. Bank of America is one of several Fortune 500 companies
strengthening its intellectual property portfolio (http://cnw.fm/kEVV3) as it
relates to cryptocurrencies and their underlying blockchain technology. In
addition to filing nine blockchain patent applications with the U.S. Patent and
Trademark Office in February alone, Bank of America is also working with
Microsoft on a joint venture aimed at applying blockchain technology to the area
of trade financing.
In the U.S., the burgeoning cannabis industry is, perhaps, one of the most
promising applications for bitcoin and blockchain technology. Despite being on
course to record sales of $13.3 billion in 2020, according to research by New
Frontier Data (http://cnw.fm/9yFTv), the U.S. cannabis market is currently
plagued with banking issues stemming from the Controlled Substances Act. This
decades-old statute classifies marijuana as a schedule I controlled substance.
As such, businesses operating in states that have legalized cannabis for either
medicinal or recreational use are often unable to access traditional banking
services offered by financial institutions operating at the interstate level.
SinglePoint, Inc. (OTC PINK: SING) is attempting to remedy the concerns
presented to these currently all-cash businesses by providing a cryptocurrency
alternative (http://cnw.fm/G7es0) to traditional banking solutions.
As CEO Greg Lambrecht stated in a recent news release, “There is now tremendous
momentum and demand for bitcoin acceptance as an alternative form of payment.”
SinglePoint has entered a period of rapid development aimed at executing on its
bitcoin payments solution. The company’s management team noted that a recently
announced new round of funding would play a key role in SinglePoint’s efforts to
“move very quickly to develop a cryptocurrency solution and continue
acquisitions in the cannabis space.” In early August, SinglePoint confirmed
(http://cnw.fm/RPwq4) the swiftness of its development efforts by announcing the
commencement of development for its in-house solution enabling consumers to
“obtain bitcoin at any point of sale.” While this new payment exchange is
expected to be particularly useful to the maturing cannabis sector, its
potential applications could extend well beyond the bounds of marijuana. As
SinglePoint noted in a news release, its new product will be “a payment service
to make instant bitcoin powered purchases possible when all you have is a credit
(or debit) card,” presenting upside for a wide variety of businesses, most
notably in high risk markets.
On October 18, 2017, SinglePoint’s evolution was featured in an article
published by Equities.com in which Lambrecht discussed the company’s two booming
industries: cannabis and cryptocurrency (http://cnw.fm/0Jwtu). “We believe that
when we get through with our cryptocurrency product, we’re going to have a huge
first mover advantage to be able to go into the dispensary and let the customers
use Bitcoin or other coins to pay for cannabis,” Lambrecht said in the
interview. “It’s just a huge opportunity and with our technical expertise we
feel like we’re if not the absolute best, one of the best companies to pull this
off.”
This interview follows Lambrecht’s appearance on “MoneyTV with Donald
Baillargeon” (http://cnw.fm/1DoOV), during which he discussed SinglePoint’s
upcoming bitcoin payments solution. “We’ve hired some of the leading bitcoin
programmers in the world to go ahead and build us a program,” he stated. “What
this program is going to do (it’s going to be very similar to the Starbucks
wallet), you’re going to have bitcoin on your wallet and when you go to the
dispensary you’re going to be able to buy cannabis with your bitcoin wallet.
That’s how we’re going to solve the fact that the banks won’t give these
dispensaries bank accounts. We’re going to be unleashing this product at the
cannabis show in Las Vegas (http://cnw.fm/Q34He). When we solve this problem
(and we’re very confident that we can) … This is the perfect storm for
SinglePoint.”
Year-to-date, shareholders have taken note of SinglePoint’s sustained growth and
aggressive acquisition strategy. The company’s price per share hit $0.0586 on
October 20, 2017, up from $0.01 in early January. An
updated investor kit
detailing the company’s products, leadership team and investor highlights
provides readers with essential insights into the company’s goals.
Joining SinglePoint in the cryptocurrency market and achieving similarly
promising growth is Bitcoin Services, Inc. (OTC: BTSC). The company’s PPS hit
$0.06669 October 20, 2017, up from $0.01 in March of this year. BTSC originally
unveiled plans to develop a blockchain software of its own in June 2016, noting
its intention to emphasize online marketplace, file storage and identity
management applications of the currency. The company reiterated these plans in
October 2016 before turning its attention toward mining digital currency at the
beginning of 2017. According to its recently updated website (http://cnw.fm/0f8Sy),
BTSC is currently focused on both bitcoin mining (http://cnw.fm/4btTQ), the
means by which new bitcoin are introduced into circulation, and blockchain
software development.
Of course, not every investment opportunity in the cryptocurrency market is
related to the development of payment software. Bitcoin Investment Trust (OTCQB:
GBTC) enables investors to gain exposure to the often significant price gains
recorded by bitcoin through a traditional investment vehicle, eliminating the
need to face the challenges of buying, storing and safekeeping the
cryptocurrency. GBTC’s shares are noteworthy in that they are “the first
publicly quoted (on OTCQXŽ under the Alternative Reporting Standards) securities
solely invested in and deriving value from the price of bitcoin.” In an August
2017 report titled “Why GBTC Is Better Than Bitcoin” (http://cnw.fm/0zQ2v), a
contributor to Seeking Alpha provided some insight into the pros and cons of
investing in Bitcoin Investment Trust instead of purchasing bitcoin directly.
While GBTC shares are eligible for tax-advantaged accounts and supported by a
network of trusted service providers, it’s important to consider that the
current premium of GBTC over bitcoin is roughly 85 percent. As such, existing
digital currency wallet platforms, as well as those in development by market
innovators like SinglePoint, likely present a more enticing option for the
majority of investors.
Yet another way to capitalize on the cryptocurrency boom is to target ancillary
markets, particularly those related to currency mining hardware, such as
Advanced Micro Devices, Inc. (NASDAQ: AMD) and Nvidia Corp. (NASDAQ: NVDA). A
July article published by Business Insider (http://cnw.fm/CYw9S) called Nvidia
and AMD “the only sure bets” in the volatile cryptocurrency space, and their
share prices have echoed that sentiment. AMD’s PPS rose from $5.74 in September
2016 to $13.81 on October 20, 2017. Meanwhile, NVDA shares hit $196.90 on
October 20, up from $59.52 in September 2016. While these companies aren’t
directly involved with bitcoin or the ongoing cryptocurrency boom, many players
in the emerging industry rely on AMD and Nvidia hardware (http://cnw.fm/jsa3O)
for the blockchain technology that underpins cryptocurrencies, and that’s paying
off for the GPU makers. RBC Capital Markets analyst Mitch Steves, in a June 26,
2017, interview with TheStreet (http://cnw.fm/b0qSS), stated that the growing
cryptocurrency mining market contributed “$100 million worth of GPU sales for
Nvidia in the last 11 days alone.”
With bitcoin hitting record highs in recent weeks, investors are frantically
searching for ways to capitalize on the emergence of both bitcoin and the wider
cryptocurrency market. While ancillary service providers like AMD and Nvidia
offer intriguing and diversified footholds in the industry, SinglePoint’s
position as an early-mover combining the recent performance of both
cryptocurrencies and legal cannabis makes it an exciting investment opportunity,
particularly as it prepares for the November launch of its cannabis-facing
bitcoin payment solution. Look for SinglePoint to stake its claim as
cryptocurrencies continue their march toward ubiquity. As Ronnie Moas of
Standpoint Research told Bloomberg in an August interview (http://cnw.fm/DEWp0),
“It looks to me as though we are at the same point in the adoption curve as we
were in 1995” with the Internet. “Cryptocurrency is becoming more widely
accepted by the day.”
For more information on SinglePoint please visit:
SinglePoint, Inc. (OTC PINK: SING) or
www.SinglePoint.com
About CannabisNewsWire
CannabisNewsWire (CNW) is an information service that provides (1) access to our
news aggregation and syndication servers, (2) CannabisNewsBreaks that summarize
corporate news and information, (3) enhanced press release services, (4) social
media distribution and optimization services, and (5) a full array of corporate
communication solutions. As a multifaceted financial news and content
distribution company with an extensive team of contributing journalists and
writers, CNW is uniquely positioned to best serve private and public companies
that desire to reach a wide audience of investors, consumers, journalists and
the general public. CNW has an ever-growing distribution network of more than
5,000 key syndication outlets across the country. By cutting through the
overload of information in today’s market, CNW brings its clients unparalleled
visibility, recognition and brand awareness. CNW is where news, content and
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SinglePoint Completes
Acquisition of Profitable Denver Colorado-Based Company
SEATTLE, WA / 10/17/17 /
SinglePoint, Inc. (OTC PINK: SING) today announces its acquisition of
Denver-based group, JAG, and offers an update on several corporate initiatives.
Through July 2017, JAG recorded $600,000 in revenue with approximately 26% gross
margins, following full-year 2016 revenue of $700,000. JAG has achieved
year-over-year growth since starting its operations in 2014, and moving forward
will provide SinglePoint consistent, predictable monthly revenue. Per the
agreement terms, SinglePoint will acquire fifty-one percent (51%) of JAG in a
combination of cash and stock, which will allow the Company to recognize all
revenues.
"We are very excited for this opportunity as it dramatically increases
SinglePoint revenues and profitability. We look forward to continuing investing
in and growing SinglePoint's operations while acquiring other companies to
generate
additional growth. With this latest investment, we are properly capitalized,
better than ever before, and will aggressively push forward on both internal and
external growth opportunities," states SinglePoint CEO Greg Lambrecht.
Execution of SinglePoint's acquisition-based growth strategy has been a strong
point for the Company, which has closed on all four of its acquisitions
year-to-date. This most recent acquisition of JAG solidifies SinglePoint's
fundamentals toward growing the Company and acquiring or investing in larger
targets with each transaction.
While the Company continues to diversify its portfolio through acquisition,
SinglePoint also continues to develop its internal mobile application. Last week
the Company met with development partners as it seeks to quickly finalize an
agreement to launch an application geared to servicing companies that offer
last-mile delivery services.
About SinglePoint, Inc.
SinglePoint, Inc. (SING) has grown from a full-service mobile technology
provider to a publicly traded holding company. Through diversification into
horizontal markets, SinglePoint is building its portfolio by acquiring an
interest in undervalued subsidiaries, thereby providing a rich, diversified
holding base. Through its subsidiary company SingleSeed the company is providing
products and services to the cannabis industry. For more information, visit
www.SinglePoint.com or www.SingleSeed.com
Connect on social media:
www.facebook.com/SinglePointMobile
http://www.twitter.com/_SinglePoint
www.linkedin.com/company/SinglePoint
www.youtube.com/user/SinglePointMobile
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, 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. Technical 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.
Contact:
SinglePoint, Inc.
Greg Lambrecht
602.481.1544
Communications Contact: NetworkNewsWire (NNW)
New York, New York
www.NetworkNewsWire.com
212.418.1217 Office
Editor@NetworkNewsWire.com
Source: SinglePoint, Inc.
SinglePoint Receives $1.2
Million in Funding With Option to Raise a Total of $4 Million
SEATTLE, WA / 10/11/17 /
SinglePoint, Inc. (OTC PINK: SING) announces the completion of a $4
Million round of funding, $1.2 Million of which has already been collected
including $600,000 of which came from United American HealthCare Corp (OTC: UAHC).
With this new round of funding, SinglePoint is positioned to aggressively
develop and complete its Bitcoin Payments solution and acquire additional
companies in the cannabis space.
SinglePoint's Bitcoin Payments solution directly addresses the challenges of the
"unbanked" cannabis industry, which is hampered by federal regulations that have
significantly cramped banking options.
The capital also enables SinglePoint to accelerate its revenue-by-acquisition
strategy, which in the last nine months alone has resulted in the investment or
acquisition of three cannabis companies. SinglePoint now has the resources
needed to
pursue larger acquisition targets to capture its share of the legal cannabis
industry, which is on track to exceed $20 billion by 2025 with a compound annual
growth rate of 29%.
"After months of negotiation, we are beyond excited to close this deal and go
after some larger deals that we have in our pipeline. Having this capital, along
with access to additional capital if needed, puts us in a strong negotiating
position. Acquiring other businesses for cash and stock is working well for us,
and enables us to infuse some cash to jumpstart the growth of our acquired
companies and give the businesses tremendous upside on the stock side, as they
successfully execute their business plan," states SinglePoint CEO Greg Lambrecht.
SinglePoint is close to finalizing the previously announced LOI (http://nnw.fm/gIi1C),
which will strengthen the Company's financials and set SinglePoint on a $1
million revenue run-rate over the course of the next year. In addition to this
potential acquisition, SinglePoint is in negotiations with other companies
operating in the cannabis tech market, as well as e-commerce sites in the
industry.
About SinglePoint, Inc. SinglePoint, Inc. (SING) has grown from a full-service
mobile technology provider to a publicly traded holding company. Through
diversification into horizontal markets, SinglePoint is building its portfolio
by acquiring an interest in undervalued subsidiaries, thereby providing a rich,
diversified holding base. Through its subsidiary company SingleSeed the company
is providing products and services to the cannabis industry.
Connect on social media at: www.facebook.com/SinglePointMobile, http://www.twitter.com/_SinglePoint,
www.linkedin.com/company/SinglePoint and www.youtube.com/user/SinglePointMobile
For more information visit www.SinglePoint.com or www.SingleSeed.com
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 objectives of the Company, 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.
Technical 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.
Contact: SinglePoint, Inc.
Greg Lambrecht
602.481.1544
Communications Contact: NetworkNewsWire (NNW)
New York, New York
www.NetworkNewsWire.com
212.418.1217 Office
Source: SinglePoint, Inc.
Green Rush Offers Enticing Secondary Business Opportunities
New York, NY – October 10, 2017 –
NetworkNewsWire.com News
Coverage: Legal marijuana sales in North America hit $6.7 billion in
2016 – a 34 percent jump from the previous year, making it the fastest-growing
industry on the planet,
according
to Arcview Market Research’s 2017 report on the marijuana market. The research
firm expects those figures to soar to nearly $23 billion by 2021. Companies that
provide products and services related to the broader cannabis economy enjoy huge
growth potential as the industry continues its inevitable march toward full
legalization, and few of them require touching a single leaf of the highly
regulated plant. Companies such as
SinglePoint, Inc. (OTC: SING), United Cannabis Corp. (OTC: CNAB),
Sugarmade, Inc. (OTC: SGMD), GreenGro Technologies, Inc. (OTC: GRHN) and Kush
Bottles, Inc. (OTC: KSHB) are banking on pursuing those ancillary revenue
streams as they look to the future.
Predictably, the cannabis market is scaling up at profound rates as changing
public perceptions and shifts in attitudes toward the use of medical and
recreational marijuana begin to shape legislative policies. The Canadian
government, which announced the full legalization of recreational marijuana by
July 2018, is poised to consider amending the law by including edibles and other
consumables. While marijuana is still illegal on the federal level in the United
States, 29 states and the District of Columbia have legalized using marijuana in
some form (http://cnw.fm/612wM) with each individual state passing its own,
distinct set of regulations.
For companies offering secondary services to the cannabis industry – and this
list includes nearly any service a successful business requires such as
packaging, security, testing, distribution, software, marketing, insurance, and
so on – the future looks bright indeed. Interestingly, as the legal recreational
marijuana market ramps up, one of the more surprising upticks in this emerging
industry involves scores of new government jobs coming on line in various state
agencies. From running
background checks on storefront sellers seeking government licenses to testing
the environmental impacts, there are plenty of jobs to be had (http://cnw.fm/mTG5b).
As the cannabis industry evolves, opportunities to provide the necessary
ancillary services are expanding, too. Cannabis cultivators are seeking new ways
to increase production and lower costs. Indeed, one of the more critical needs
facing the cannabis industry is finding a way to move past its current
‘cash-only’ status to develop safer, more secure and reliable payment option.
Most banking institutions operate in multiple states and are subject to strict
federal regulations, which means the majority have steered clear of getting
involved in businesses that touch the marijuana plant. While that attitude is
changing somewhat, the cannabis industry continues to need a way to transact
daily business in a rapidly growing market.
SinglePoint, Inc. (OTC: SING), which has evolved from a full-service
provider of mobile technology to a publicly traded holding company, is now
focused on diversifying into horizontal markets within the cannabis sector. The
company’s wholly owned subsidiary, SingleSeed Payments, is tapping into the
consulting and consumer ancillary markets by being one of the first merchant
service providers targeting the marijuana industry. SingleSeed, which aims to
make cashless transactions and high-risk credit card processing available to
cannabis and other high-risk companies, offers innovative payment solutions.
Regardless of the current federal banking guidelines and oversight of the FDIC,
SingleSeed is positioned to solve a singular problem facing this rapidly growing
industry. Along with its ability to provide tools that help cannabis businesses
take point-of-sale payments through cashless ATMs and mobile marketing apps,
SingleSeed’s reliable solutions make secure transactions and communications
easy.
As the leading payment solution provider to the cannabis industry, SingleSeed
provides a service that makes life easier and businesses more effective while
keeping customers happy. The company’s focus on education and providing
information for customers and shopkeepers alike on the key issues facing the
retail and medical cannabis market leads to another important goal –
legitimizing the cannabis industry.
SinglePoint’s rapidly growing recognition in the cannabis industry, in part,
stems from the consistency of its acquisition-based growth strategy (http://cnw.fm/Jxs62).
Each of the company’s acquisitions was thoroughly evaluated and identified as an
undervalued business with huge potential to bring additional value to investors
before its addition to SinglePoint’s diverse portfolio.
This portfolio includes an interest in Jacksam Corp., dba Convectium, a
profitable California-based provider of equipment, branding and packaging
solutions for the cannabis industry. Convectium has 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.
Year-to-date, SinglePoint has acquired or invested in three companies, driving
revenue growth and solidifying the company’s revenue-by-acquisition model. Most
recently, the company signed a Letter of Intent (“LOI”) to acquire a 51-percent
stake in a Denver-based company paced to record $1 million in annual revenue.
“We are committed to identifying and making investments in companies that
strengthen SinglePoint’s value,” SinglePoint CEO Greg Lambrecht stated in the
press release announcing the deal (http://cnw.fm/vs0M8). “Our goal is to find
and acquire companies we believe will add instant value as well as the
opportunity for major growth.”
Another company lining up to benefit from servicing cannabis-related businesses
is United Cannabis (OTCQB: CNAB), a biotechnology company with patented
technologies for the pharmaceutical, medical and industrial markets. The company
provides consulting services, proprietary products, and licenses to its
intellectual property that relate to the legalized growth, production,
manufacture, marketing, management, utilization and distribution of medical and
recreational marijuana and cannabis-infused products. United Cannabis Corp.’s
products include supplements, medical cannabis therapeutics and pharmaceutical
drugs. Its current focus is on commercializing its patented Prana Bio-Nutrient
Medicinal products.
Sugarmade (OTCQB: SGMD) and Plantation Corp. have teamed together to solve
another cannabis-industry problem – long term storage. The companies together
report success in developing a proprietary packaging product that stores
cannabis in a container that provides the optimum storage atmosphere for
cannabis flowers. This product – BudLife containers – preserves the important
properties of cannabis, namely the THC levels, terpene quality, and tricome
structure, along with aroma and feel, and solves another point of concern for
cultivators.
Cannabis growers know their plants need to be high yielding and of a consistent,
high quality in order to satisfy consumer and regulatory demands. GreenGro
Technologies (OTC: GRHN) is a national leader in both indoor and outdoor
aquaponic and hydroponic systems and grow rooms utilized by the cannabis
industry. The company’s expertise in agricultural science systems serves
customers in both the consumer and commercial farming markets. GreenGro’s most
recent news announces the debut of its consumer-oriented food cloning and
breeding website that highlights the company’s wholly owned subsidiary,
Genobreeding. This corporate initiative introduces cutting-edge plant varieties
to the cannabis market through the application of modern plant breeding
techniques.
Not to be outdone, Kush Bottles (OTCQB: KSHB) has launched a custom design and
branding solutions division that brings a one-of-a-kind look and feel for
marijuana product companies, dispensaries and more. The demand for custom
packages continues to climb as cannabis firms realize brand awareness is of
paramount importance. Kush Bottles utilizes computer-aided design, drawings and
3-D printings to create unique designs and prototypes that are cost effective
and provide a rapid turnaround time to the final product. Founded in 2010, the
company regularly serves more than 4,000 legally operated medical and adult-use
dispensaries, growers and producers across North America, South America and
Europe.
SinglePoint’s strategic expansion plans demonstrate the diversity of investment
options in today’s cannabis industry, which requires companies to be innovative,
flexible and responsive to a changing marketplace, growing consumer base and the
businesses that serve them.
For more information on SinglePoint please visit:
SinglePoint, Inc. (OTC: SING) or
www.SinglePoint.com
About CannabisNewsWire
CannabisNewsWire (CNW) is an information service that provides (1) access to our
news aggregation and syndication servers, (2)
CannabisNewsBreaks that
summarize corporate news and information, (3) enhanced press release services,
(4) social media distribution and optimization services, and (5) a full array of
corporate communication solutions. As a multifaceted financial news and content
distribution company with an extensive team of contributing journalists and
writers, CNW is uniquely positioned to best serve private and public companies
that desire to reach a wide audience of investors, consumers, journalists and
the general public. CNW has an ever-growing distribution network of more than
5,000 key syndication outlets across the country. By cutting through the
overload of information in today’s market, CNW brings its clients unparalleled
visibility, recognition and brand awareness. CNW is where news, content and
information converge.
Receive Text Alerts from CannabisNewsWire: Text "Cannabis" to 21000
For more information please visit
https://www.CannabisNewsWire.com and or
https://CannabisNewsWire.News
Please see full terms of use and disclaimers on the CannabisNewsWire website
applicable to all content provided by CNW, wherever published or re-published:
http://CNW.fm/Disclaimer
CannabisNewsWire (CNW)
Denver, Colorado
www.CannabisNewsWire.com
303.498.7722 Office
Editor@CannabisNewsWire.net
DISCLAIMER: CannabisNewsWire (CNW) is the source of the Article and content set
forth above. References to any issuer other than the profiled issuer are
intended solely to identify industry participants and do not constitute an
endorsement of any issuer and do not constitute a comparison to the profiled
issuer. FN Media Group (FNM) is a third-party publisher and news dissemination
service provider, which disseminates electronic information through multiple
online media channels. FNM is NOT affiliated with CNW or any company mentioned
herein. The commentary, views and opinions expressed in this release by CNW are
solely those of CNW and are not shared by and do not reflect in any manner the
views or opinions of FNM. Readers of this Article and content agree that they
cannot and will not seek to hold liable CNW and FNM for any investment decisions
by their readers or subscribers. CNW and FNM and their respective affiliated
companies are a news dissemination and financial marketing solutions provider
and are NOT registered broker-dealers/analysts/investment advisers, hold no
investment licenses and may NOT sell, offer to sell or offer to buy any
security.
The Article and content related to the profiled company represent the personal
and subjective views of the Author, and are subject to change at any time
without notice. The information provided in the Article and the content has been
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Author has not independently verified or otherwise investigated all such
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Article and content are not, and should not be regarded as investment advice or
as a recommendation regarding any particular security or course of action;
readers are strongly urged to speak with their own investment advisor and review
all of the profiled issuer's filings made with the Securities and Exchange
Commission before making any investment decisions and should understand the
risks associated with an investment in the profiled issuer's securities,
including, but not limited to, the complete loss of your investment.
CNW & FNM HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.
This release contains "forward-looking statements" within the meaning of Section
27A of the Securities Act of 1933, as amended, and Section 21E the Securities
Exchange Act of 1934, as amended and such forward-looking statements are made
pursuant to the safe harbor provisions of the Private Securities Litigation
Reform Act of 1995. "Forward-looking statements" describe future expectations,
plans, results, or strategies and are generally preceded by words such as "may",
"future", "plan" or "planned", "will" or "should", "expected," "anticipates",
"draft", "eventually" or "projected". You are cautioned that such statements are
subject to a multitude of risks and uncertainties that could cause future
circumstances, events, or results to differ materially from those projected in
the forward-looking statements, including the risks that actual results may
differ materially from those projected in the forward-looking statements as a
result of various factors, and other risks identified in a company's annual
report on Form 10-K or 10-KSB and other filings made by such company with the
Securities and Exchange Commission. You should consider these factors in
evaluating the forward-looking statements included herein, and not place undue
reliance on such statements. The forward-looking statements in this release are
made as of the date hereof and CNW and FNM undertake no obligation to update
such statements.
CannabisNewsWire (CNW) & NetworkNewsWire (NNW) are proud to be affiliated
partners of the Investor Based Brand Network (IBBN)
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Content Source: CannabisNewsWire
Cannabis Market Extends across Numerous Industry Segments
New York, NY – October 3, 2017 –
NetworkNewsWire.com News
Coverage: Growth has been the dominant theme in the cannabis market.
Estimates by Forbes put the legal cannabis market at a value of $7.2 billion
(per a February 2017 report), and the market is expected to generate more jobs
than government, manufacturing, or utilities in the coming years,
according
to the Bureau of Labor Statistics. Numerous industries are being impacted.
Cultivation and medicine are just a couple of examples, but cannabis is showing
a strong presence in the retail, consulting, and consumer sectors.
SinglePoint, Inc. (OTC: SING) has focused on business development in
multiple segments thanks to its diverse acquisition strategy, while Surna, Inc.
(OTC: SRNA) has excelled in its AgTech focus. On the other hand, mCig, Inc.
(OTC: MCIG) is serving the consumer market and AbbVie (NYSE: ABBV) and 22nd
Century Group, Inc. (NYSE: XXII) are heavily vested in the vast medical arena.
SinglePoint, Inc. (OTC: SING) a holding company that originated in the
mobile technology sector, has assembled a diverse portfolio of subsidiaries. Its
own SingleSeed subsidiary has had multi-industry impacts by addressing the
unbankable aspects of the cannabis industry. At its core, SingleSeed addresses a
significant obstacle of the marijuana industry. Because federal restrictions
forbid traditional banks from backing marijuana merchants, businesses must rely
on cash-only transactions, which presented numerous security and accounting
problems.
SingleSeed’s aim is to make cashless transactions and high-risk credit card
processing available to cannabis and other high-risk companies. SingleSeed also
offers other business development services such as digital packages focused on
helping cannabis businesses grow their customer base and create loyalty through
website building, affiliate marketing, web traffic analysis, and event planning.
The overriding theme here is that SingleSeed is positioned to serve the cannabis
business needs of a diverse range of businesses in the cannabis industry,
regardless of the current federal banking guidelines and the oversight of the
FDIC.
A robust acquisition strategy has enabled SinglePoint to dig its heels into
several other segments of the marijuana industry, without ever touching the
plant. Among other acquisitions, SinglePoint’s portfolio includes its investment
in
packaging and distribution company Convectium (http://nnw.fm/6oZ5x), which sells
machines that fill vials with oil and which created a unique system for
filling/packaging vape cartridges and disposable vape pens; and indoor garden
supply company DIGS Hydro (http://nnw.fm/oh7ZW).
Most recently, SinglePoint announced the finalization of a Letter of Intent to
acquire 51 percent of a company in Denver, Colorado (http://nnw.fm/rO8kK). This
company is already approaching an annual revenue of $1 million.
“We are committed to identifying and making investments in companies that
strengthen SinglePoint’s value,” company CEO Greg Lambrecht stated in the news
release. “Our goal is to find and acquire companies we believe will add instant
value as well as the opportunity for major growth.”
As SinglePoint participates in multiple industries connected with the marijuana
market, other businesses exemplify specific sectors. Surna, Inc. (OTCQB: SRNA)
is an AgTech and consulting firm. Like SinglePoint (SING), it serves a diverse
base, from cultivators and investors, to engineers and contractors. The company
is devoted to engineering and development of cultivation facilities, and the
planning of controlled environments. Technology is its specialty; an automation
system provides all the real-time/historical data necessary to simplify the
cultivation process.
A Biosecurity Program includes testing and reporting for facilities. The company
also conducts air and surface quality tests to ensure facilities are sanitary.
Another technology offering is the use of photocatalytic oxidation equipment to
clean air of pollutants such as bacteria, fungi, and volatile organic compounds.
Surna is a specialist in lighting as well. A vented reflector system increases
efficiency and the amount of light that shines on a target by 9 percent. In
addition, the company’s patented LED lighting system is designed to maximize
efficiency in cultivation facilities.
Focused on a technology of a different type, mCig, Inc. (OTCQB: MCIG) has
targeted the consumer market with its ownership of Vitacig, a cigarette
alternative and essential oil diffuser, and Vapolution, Inc., which produces a
specialized glass vaporizer. The company’s 420 Cloud unified community platform
targets a diversified audience of users, patients, businesses, doctors,
dispensaries, and entrepreneurs. The cross-channel platform integrates a news
media platform, job search system, and commercial networking platform.
Consumer-centric functions such as gamification and ads are planned. There are
plans to distribute the platform through partnerships with dispensaries. MCIG is
also involved in the AgTech market, as it provides consulting and warehouse
customization that includes controlled growing systems, energy efficiency
conversion, and modular kits that function inside existing facilities.
The pharmaceutical and medical industry has been impacted by the cannabis market
in big ways. Research and development is a major focus by many companies looking
for the latest innovative treatments. AbbVie (NYSE: ABBV) is one of them. Its
29,000 employees include scientists and researchers, manufacturing specialists,
and experts in communications and regulatory matters. Drug development is taking
place in key areas such as immunology, oncology, neuroscience, and virology as
well as general medicine. The company has put together a pipeline that consists
of potential treatments for Crohn’s disease, rheumatoid arthritis, psoriasis,
Parkinson’s disease (Duodopa has been approved), and a wide variety of cancers.
There are also potential new drugs for hepatitis C (Mavyret has been approved),
cystic fibrosis, and diabetic nephropathy. A variety of other products are
approved for distribution by healthcare professionals, and available depending
on the individual country.
The contribution of 22nd Century Group, Inc. (NYSE: XXII) is an industrial hemp
plant that has no psychoactive tetrahydrocannabidiol (THC). This is a bonus for
U.S. farmers who are restricted to growing crops with THC levels below 0.3
percent. Aside from this innovation, XXII is involved in the medical sector with
its clinical studies of nicotine cessation products (it was originally a tobacco
company), and a range of consumer products in this area. But like SING, it
actively pursues business development, although in the form of partnerships,
joint ventures, and in- and out-licensing.
Today’s cannabis industry incorporates cultivators, retailers, pharmaceutical
companies, consultants, and others. Business development is a goal of many, such
as SinglePoint. Technology providers like Surna are prevailing in the current
market, as are consumer-focused ventures such as mCig. Pharmaceutical firms such
as AbbVie and XXII, heavily involved in research and development, are also
examples of businesses making the cannabis industry as diverse as it has become.
The trends have resulted in opportunities and revenue for a multitude of market
sectors.
For more information on SinglePoint please visit:
SinglePoint, Inc. (OTC: SING) or
www.SinglePoint.com
About CannabisNewsWire
CannabisNewsWire (CNW) is an information service that provides (1) access to our
news aggregation and syndication servers, (2) CannabisNewsBreaks that summarize
corporate news and information, (3) enhanced press release services, (4) social
media distribution and optimization services, and (5) a full array of corporate
communication solutions. As a multifaceted financial news and content
distribution company with an extensive team of contributing journalists and
writers, CNW is uniquely positioned to best serve private and public companies
that desire to reach a wide audience of investors, consumers, journalists and
the general public. CNW has an ever-growing distribution network of more than
5,000 key syndication outlets across the country. By cutting through the
overload of information in today’s market, CNW brings its clients unparalleled
visibility, recognition and brand awareness. CNW is where news, content and
information converge.
For more information please visit https://www.CannabisNewsWire.com and or
https://CannabisNewsWire.News
Please see full terms of use and disclaimers on the CannabisNewsWire website
applicable to all content provided by CNW, wherever published or re-published:
http://CNW.fm/Disclaimer
CannabisNewsWire (CNW)
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www.CannabisNewsWire.com
303.498.7722 Office
Editor@CannabisNewsWire.net
CannabisNewsWire (CNW) and NetworkNewsWire (NNW) are proud to be affiliated
partners of the Investor Based Brand Network (IBBN)
About IBBN
Over the past 10+ years we have consistently introduced new network brands, each
specifically designed to fulfil the unique needs of our growing client base and
services. Today, we continue to expand our branded network of highly influential
properties, leveraging the knowledge and energy of specialised teams of experts
to serve our increasingly diversified list of clients.
Please feel free to visit the Investor Based Brand Network (IBBN) http://www.investorbasedbrandnetwork.com
Michael McCarthy
Managing Director
CannabisNewsWire (CNW)
Denver, Colorado
www.CannabisNewsWire.net
303.498.7722 Office
Michael@CannabisNewsWire.net
DISCLAIMER: CannabisNewsWire (CNW) is the source of the Article and content set
forth above. References to any issuer other than the profiled issuer are
intended solely to identify industry participants and do not constitute an
endorsement of any issuer and do not constitute a comparison to the profiled
issuer. FN Media Group (FNM) is a third-party publisher and news dissemination
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online media channels. FNM is NOT affiliated with CNW or any company mentioned
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cannot and will not seek to hold liable CNW and FNM for any investment decisions
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The Article and content related to the profiled company represent the personal
and subjective views of the Author, and are subject to change at any time
without notice. The information provided in the Article and the content has been
obtained from sources which the Author believes to be reliable. However, the
Author has not independently verified or otherwise investigated all such
information. None of the Author, CNW, FNM, or any of their respective
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Article and content are not, and should not be regarded as investment advice or
as a recommendation regarding any particular security or course of action;
readers are strongly urged to speak with their own investment advisor and review
all of the profiled issuer's filings made with the Securities and Exchange
Commission before making any investment decisions and should understand the
risks associated with an investment in the profiled issuer's securities,
including, but not limited to, the complete loss of your investment.
CNW & FNM HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.
This release contains "forward-looking statements" within the meaning of Section
27A of the Securities Act of 1933, as amended, and Section 21E the Securities
Exchange Act of 1934, as amended and such forward-looking statements are made
pursuant to the safe harbor provisions of the Private Securities Litigation
Reform Act of 1995. "Forward-looking statements" describe future expectations,
plans, results, or strategies and are generally preceded by words such as "may",
"future", "plan" or "planned", "will" or "should", "expected," "anticipates",
"draft", "eventually" or "projected". You are cautioned that such statements are
subject to a multitude of risks and uncertainties that could cause future
circumstances, events, or results to differ materially from those projected in
the forward-looking statements, including the risks that actual results may
differ materially from those projected in the forward-looking statements as a
result of various factors, and other risks identified in a company's annual
report on Form 10-K or 10-KSB and other filings made by such company with the
Securities and Exchange Commission. You should consider these factors in
evaluating the forward-looking statements included herein, and not place undue
reliance on such statements. The forward-looking statements in this release are
made as of the date hereof and CNW and FNM undertake no obligation to update
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News Source: CannabisNewsWire
Rapidly Changing Cannabis Industry Offers Plenty of Growth in Horizontal Markets
New York, NY – September 26, 2017 –
NetworkNewsWire.com News
Coverage: From Main Street to Wall Street, the cannabis industry is
branching out into a variety of business opportunities for not only the key
players involved but smaller startup firms as well. Projected growth estimates
for the legal marijuana industry are impressive, with ArcView Market Research
predicting a massive leap from just under $7 billion in 2016 to $22 billion by
2021, and that’s just the North
American
market. Globally, the market is estimated to reach over $55 billion by 2025. No
matter how you crunch the numbers, a hefty segment of that revenue is streaming
from subsidiary services supporting the cultivation, processing and eventual
sale of the highly regulated plant. For companies like
SinglePoint, Inc. (OTC: SING), Medical Marijuana, Inc. (OTC: MJNA),
Solis Tek Inc. (OTC: SLTK), Supreme Pharmaceuticals Inc. (OTC: SPRWF) and Scotts
Miracle-Gro Company (NYSE: SMG), moving into parallel business ventures makes
economic sense.
SinglePoint, Inc. (OTC: SING) approach of building a diversified
portfolio through the acquisition of high-potential, ancillary cannabis-related
targets is paying off. Earlier this month, SinglePoint acquired a majority stake
in Arizona-based Dr. FeelGood, a leading medical marijuana distribution company
whose extension plans include adding a proprietary delivery and ordering
technology application. Also in the pipeline is a Dr. FeelGood mobile
application that will both enhance the experience for users and streamline the
company’s operations. Once completed, the app will allow both SinglePoint and
Dr. FeelGood to license the technology to other distribution companies
throughout the United States (http://nnw.fm/3CqEj).
SinglePoint’s earlier majority purchase (http://nnw.fm/3YFg6) in Jacksam Corp. (dba
Convectium), a profitable California-based provider of a revolutionary vape pen
filling/sealing system, moves SinglePoint closer to its goal of adding
revenue-enhancing joint-ventures to its portfolio. Include SinglePoint’s 90
percent stake of California-based Discount Indoor Garden Supply (“DIGS”) Hydro
(http://nnw.fm/Op4V6), which provides cultivation hardware and consulting
services to the cannabis industry, and it’s apparent that the company’s strategy
is working. With these acquisitions, SinglePoint’s revenue has increased
378-fold in comparison with the first quarter of 2017, ideally positioning the
company to further increase revenues. This approach highlights SinglePoint’s
winning philosophy of acquiring an interest in undervalued subsidiaries, which
translates into a rich, diversified holding base.
Meanwhile, SinglePoint’s SingleSeed subsidiary (www.SingleSeed.com) supplies
various services to marijuana businesses and has become a hub for dispensaries
that are looking for payment processing solutions and other business tools.
SingleSeed also provides payment processing and text message marketing solutions
for marijuana businesses, and it has taken a proactive approach to solving an
industry-wide payment problem that’s plaguing the expanding legal cannabis
market: a way to process debit and credit card transactions independent of banks
and the FDIC.
The choices are endless when it comes to providing support to an industry
riddled with regulations imposed at the federal, state and local levels. Most of
those regulations target companies that actually “touch” the marijuana plant,
leaving secondary business ventures with fewer legal and financial risks. As a
result, firms that provide testing and lab services, banking and payment
processing, insurance, accounting, legal work, technology and software,
security, professional education and training, hydroponics, lighting and
packaging – pretty much anything that involves cannabis without touching the
actual plant itself – are earning solid profit margins.
Medical Marijuana, Inc. (OTC: MJNA), is another company with a portfolio of
products and services focused on serving the legal hemp industry. One of its
subsidiaries, KannaLife Sciences, a pharmaceutical and phyto-medical company,
has signed former three-time NFL Pro Bowl and Kansas City Chiefs placekicker
Nick Lowery to its corporate advisory board. Lowery is tasked with speaking out
about chronic traumatic encephalopathy (CTE), a degenerative disease caused by
repeated head trauma. KannaLife’s efforts to bring a clinically-approved
treatment for CTE to market could be a game changer for treatment of this
devastating type of head injury. Evidence of CTE is being seen in post-mortem
examinations of prominent football players who suffered severe violent mood
swings, depression and other cognitive difficulties that may have contributed to
their deaths, according to a company news release.
On the other end of the spectrum, you can’t produce a quality pharmaceutical
product without first providing the right atmosphere for growing the cannabis
plant. Solis Tek Inc. (OTCQB: SLTK) has been bringing lighting solutions to the
cannabis market for nearly a decade, providing products that commercial cannabis
growers depend on for a more consistent grow, a better end product, and,
ultimately, a more significant, profitable harvest. According to a recent test
of six lighting companies and products specifically serving the cannabis
industry, Solis Tek’s Digital Lighting solutions scored highest in overall value
for cultivators. Solis Tek was the first cannabis lighting company to offer a
“light diet,” which is now the standard among many top commercial cannabis
growers.
With the industry moving so fast, it’s crucial for companies that provide
medical-grade cannabis to keep up with the momentum. Canada-based Supreme
Pharmaceuticals (OTC: SPWRF), through wholly-owned subsidiary 7ACRES, combines
the best technology of indoor production with the efficiencies and
sustainability of a greenhouse. As a federally licensed producer of medical
cannabis under the country’s Access to Cannabis for Medical Purposes Regulations
(ACMPR), Supreme Pharmaceutical is making its name known among firms that serve
patients of medical marijuana. In a news release, Supreme Pharmaceuticals
reported its first sale of dried cannabis to Aurora Cannabis Inc, one of
Canada’s leading licensed producers serving over 19,000 registered patients.
While not directly involved in the cannabis industry – and that’s really the
point of some of these support businesses – there are huge corporations getting
into the hydroponics end of growing plants. Hydroponics, which allows plants to
be cultivated by placing roots in liquid nutrient solutions rather than soil, is
booming. Scotts Miracle-Gro Company (NYSE: SMG), globally known for its lawncare
and plant products, has been snapping up specialty fertilizers, lighting and
other hydroponics supply companies, increasing its footprint in a specialty
market that includes cannabis. Among the company’s investments are Gavita, a
Dutch grow lighting company; Botanicare, a plant nutrient and hydroponics
products provider; Boulder’s AeroGrow, an indoor gardening company; and
California’s General Hydroponics. In a news release (http://nnw.fm/4QoAj),
company’s chairman and CEO Jim Hagedorn reminded investors that the strength of
the company’s core U.S. business is being strengthened by the success of the
hydroponics businesses in its portfolio.
There’s an old proverb which accurately reflects today’s business opportunities
when it comes to the rapid changes facing the cannabis industry as it becomes
more acceptable in the medical community and with the public at large:
“Necessity is the mother of invention.” Companies that buckle in for a wild
ride, plan accordingly and aren’t afraid to be creative and step into the role
of service provider are sure to rise to the top.
For more information on SinglePoint please visit:
SinglePoint, Inc. (OTC: SING) or
www.SinglePoint.com
About NetworkNewsWire
NetworkNewsWire (NNW) is an information service that provides (1) access to our
news aggregation and syndication servers, (2) NetworkNewsBreaks that summarize
corporate news and information, (3) enhanced press release services, (4) social
media distribution and optimization services, and (5) a full array of corporate
communication solutions. As a multifaceted financial news and content
distribution company with an extensive team of contributing journalists and
writers, NNW is uniquely positioned to best serve private and public companies
that desire to reach a wide audience of investors, consumers, journalists and
the general public. NNW has an ever-growing distribution network of more than
5,000 key syndication outlets across the country. By cutting through the
overload of information in today’s market, NNW brings its clients unparalleled
visibility, recognition and brand awareness. NNW is where news, content and
information converge.
NetworkNewsWire (NNW)
New York, New York
www.NetworkNewsWire.com
212.418.1217 Office
Editor@NetworkNewsWire.com
Please see full terms of use and disclaimers on the NetworkNewsWire website
applicable to all content provided by NNW, wherever published or re-published:
http://NNW.fm/Disclaimer
DISCLAIMER: NetworkNewsWire (NNW) is the source of the Article and content set
forth above. References to any issuer other than the profiled issuer are
intended solely to identify industry participants and do not constitute an
endorsement of any issuer and do not constitute a comparison to the profiled
issuer. FN Media Group (FNM) is a third-party publisher and news dissemination
service provider, which disseminates electronic information through multiple
online media channels. FNM is NOT affiliated with NNW or any company mentioned
herein. The commentary, views and opinions expressed in this release by NNW are
solely those of NNW and are not shared by and do not reflect in any manner the
views or opinions of FNM. Readers of this Article and content agree that they
cannot and will not seek to hold liable NNW and FNM for any investment decisions
by their readers or subscribers. NNW and FNM and their respective affiliated
companies are a news dissemination and financial marketing solutions provider
and are NOT registered broker-dealers/analysts/investment advisers, hold no
investment licenses and may NOT sell, offer to sell or offer to buy any
security.
The Article and content related to the profiled company represent the personal
and subjective views of the Author, and are subject to change at any time
without notice. The information provided in the Article and the content has been
obtained from sources which the Author believes to be reliable. However, the
Author has not independently verified or otherwise investigated all such
information. None of the Author, NNW, FNM, or any of their respective
affiliates, guarantee the accuracy or completeness of any such information. This
Article and content are not, and should not be regarded as investment advice or
as a recommendation regarding any particular security or course of action;
readers are strongly urged to speak with their own investment advisor and review
all of the profiled issuer's filings made with the Securities and Exchange
Commission before making any investment decisions and should understand the
risks associated with an investment in the profiled issuer's securities,
including, but not limited to, the complete loss of your investment.
NNW & FNM HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.
This release contains "forward-looking statements" within the meaning of Section
27A of the Securities Act of 1933, as amended, and Section 21E the Securities
Exchange Act of 1934, as amended and such forward-looking statements are made
pursuant to the safe harbor provisions of the Private Securities Litigation
Reform Act of 1995. "Forward-looking statements" describe future expectations,
plans, results, or strategies and are generally preceded by words such as "may",
"future", "plan" or "planned", "will" or "should", "expected," "anticipates",
"draft", "eventually" or "projected". You are cautioned that such statements are
subject to a multitude of risks and uncertainties that could cause future
circumstances, events, or results to differ materially from those projected in
the forward-looking statements, including the risks that actual results may
differ materially from those projected in the forward-looking statements as a
result of various factors, and other risks identified in a company's annual
report on Form 10-K or 10-KSB and other filings made by such company with the
Securities and Exchange Commission. You should consider these factors in
evaluating the forward-looking statements included herein, and not place undue
reliance on such statements. The forward-looking statements in this release are
made as of the date hereof and NNW and FNM undertake no obligation to update
such statements.
Media Contact e-mail: FN Media Group, LLC - editor@financialnewsmedia.com
(954)345-0611
News Source: NetworkNewsWire
Cannabis Sector Strategies Light the Way for Industry Growth
New York, NY – September 13, 2017 –
NetworkNewsWire.com News
Coverage: A new report out from Hexa Research projects that the
domestic market for medical marijuana is slated to grow over 250 percent by 2024
to reach a new worth
of
nearly $20 billion (1). Globally, the market is estimated as reaching some $55.8
billion by 2025. Players in the space are banking on this incredible growth,
executing their individual strategies to take part in the vast opportunities.
SinglePoint, Inc. (OTC: SING) employs a diversified acquisition-based
strategy and is moving toward select joint-ventures to further enhance revenue
growth potential as an increasingly cannabis-focused holding company. The goal
of any company is growing value, and whether we are talking about up and coming
growers like Supreme Pharmaceuticals, Inc. (OTC: SPRWF) (TSX-V: FIRE),
cannabinoid medicine developers such as Emerald Health Therapeutics, Inc. (OTC:
EMHTF) (TSX-V: EMH), suppliers of proprietary cultivation systems like Surna,
Inc. (OTC: SRNA), or a holding company like General Cannabis Corp. (OTC: CANN),
revenue growth and expansion are common objectives.
Analysis of publicly available 2016 data by Marijuana Business Daily offers
investors clear insight into why companies are looking to gobble up broader
footings in this market. One key data point shows that
over 64 percent of medical marijuana patients were qualified under chronic
or severe pain conditions. Pharmaceutical pain management is a
$32.3 billion market in and of itself and is slated to grow at an 8.1
percent CAGR through 2022. Given increased attention to the opioid epidemic in
the U.S. and a resounding chorus of voices citing intriguing data such as the
23 percent decrease in hospitalization rates for opioid abuse in states that
legalized medical marijuana, we can see clearly why companies want to get
their hands on as much of this industry as they can (and fast).
It’s no wonder established sector operators (and even new entrants), many of
whom are locked into a single revenue-generating vector, are thinking about
intelligently branching out the way
SinglePoint, Inc. (OTC: SING) has over the past year. The real appeal of
such a diversified acquisition strategy has the potential to not only accelerate
revenue growth by establishing a more robust set of revenue streams, but to gain
a more dominant and solid overall footing within the industry. Why just be an
isolated cultivator, equipment supplier, or cannabis medicines developer when
one can put together a series of proven, profitable entities of this type and
become a real powerhouse operation in this seemingly unstoppable and rapidly
growing industry?
Take a look at how SinglePoint has evolved so quickly, going from a core
emphasis on advanced payment technologies and full-service mobile technologies
leveraging the company’s
SingleSeed subsidiary, to a full-fledged holding company specializing in
acquiring small to mid-sized companies, and thus judiciously layering up
profitable, parallel interests in the ultra-hot cannabis business. Ever since
the acquisition of a strategic stake in revolutionary vape pen filling/sealing
system developer and B2C purveyor Jacksam Corp. (dba Convectium) in March (
http://nnw.fm/3YFg6 ), SinglePoint has been on
a real tear. Two months later, SinglePoint snapped up 90 percent of
California-based cultivation hardware supplier and cannabis consulting outfit
Discount Indoor Garden Supply (“DIGS”) Hydro (
http://nnw.fm/oh7ZW ), and more recently acquired a 51 percent stake in
Arizona-based medical marijuana distribution outfit Dr. FeelGood (
http://nnw.fm/5rT6R ). SinglePoint CEO Greg
Lambrecht, noted in a recent interview on
MoneyTV with Donald
Baillargeon how sage use of its public vehicle has allowed the company to
rapidly piece together a much more stable footing in the cannabis industry that
already delivered a substantial increase in revenues. The acquisition of DIGS
Hydro and Convectium, according to Lambrecht, has increased revenues a whopping
378 times compared to Q1 2017.
For a well-positioned operation like SinglePoint, this is music to investors’
ears and Lambrecht also recently pointed out that the company is looking to do
more select joint-ventures as well, in addition to further acquisitions that
will bring in yet more revenue streams. Looking at Convectium’s revolutionary
710Shark
(produced under the BlackoutX brand), which can fill and pack over 100
cartridges for vape pens in 30 seconds at around half the price per machine of
the industry standard, it’s easy to understand how Convectium is able to project
a 150 percent increase in sales this year to some $3.5 million. This easy-to-use
beauty is the only known machine on the market today that can fill cartridges or
disposables on this scale for wholesale distribution and the machine utilizes a
state-of-the-art dual-heat injection technology that can fill many different
types of disposables, using even the thickest of oils. The 710Shark even comes
with a 1 horsepower California Air Tools 5.5 gallon, ultra-quiet, oil-free air
compressor. The
710 Seal Machine is the other end of the BlackoutX "Fill Seal Sell" System
and collectively represents the first such end-to-end system on the market,
allowing for easy production of childproof blister packs from loaded
cartridges/disposables. Convectium also provides a suite of B2C offerings, which
SinglePoint will offer through the SingleSeed platform.
DIGS Hydro is already quite well established in retail via an
extensive online catalog featuring
a wide variety of growing supplies, as well as equipment ranging from HVAC to
complete surveillance systems that are tailored to secure a particular grow op.
Furthermore, the company provides a number of mission-critical design,
construction and maintenance services, covering indoor, greenhouse, and
aquaponic setups. This acquisition also grants SinglePoint access to some
talented new personnel, such as DIGS Hydro’s top man Carey Haas, who has over 25
years in the industry and will be instrumental to SinglePoint’s decision-making
process moving forward on the cannabis side of the business. Recent estimates
for the California cannabis market are very promising, with
New Frontier’s analysis recently noted in the LA Times projecting 12 percent
CAGR over the next eight years to $6.6 billion. This could make the DIGS Hydro
acquisition a big feather in SinglePoint’s cap, particularly as the rest of its
diversified acquisition strategy plays out.
Dr. FeelGood already has
an
established presence on the widely used cannabis locator site Weedmaps, with
a 4.9 out of 5 star rating, and a recent announcement indicates that the company
is set to release an app to compete directly with the likes of Weedmaps in just
three months’ time. This proprietary mobile application will not only enhance
the user experience, it will enable licensing of the technology to other
distribution entities in the U.S. once the app is complete. The new app will add
substantial weight to Dr. FeelGood’s overall presence, which also consists of a
wide variety of B2B and B2C distributed products. By leveraging SinglePoint’s
existing location-based delivery technology, the app, which has been on the
drawing board at Dr. FeelGood for some time now, will take full advantage of
additional features like a directory and ordering system. In this way, the app
will offer consumers a souped-up and feature-rich version of already successful,
similar offerings in the space.
This diversified approach by SinglePoint to the cannabis sector is something for
investors to take note of in comparison with other operators in the space today,
especially considering how investor-accessible SING’s share price currently is
at less than a dime per share. As the pot market continues to mature, we will
most likely see an increased drive towards diversification by established sector
operators and new entrants alike, with other companies seeking to emulate the
roll-up strategy of companies like SinglePoint. This rising trend was mapped out
nicely by
a recent article in Marijuana Business Daily, highlighting the substantial
uptick of M&A activity in the sector. In particular, the Viridian “Deal Tracker”
data shows 126 such deals were executed from January 2016 to March 2017 (most
likely a conservative estimate).
Supreme Pharmaceuticals, Inc. (OTC: SPRWF) (TSX-V: FIRE.V) has pulled back a bit
to around $1.02 from highs of early 2017 when it was $1.41 and charging strong,
coming off of a banner 2016 that saw completion of the company’s
first sale of cannabis genetics to another Canadian Licensed Producer, as
well as some $70 million in private placements. This was all subsequent to
reception of ACMPR (Access to Cannabis for Medical Purposes Regulations)
permission to sell product by the company’s wholly-owned 7ACRES subsidiary in
June this year and an uplisting from CSE to the TSX.V exchange. Supreme is
quickly realizing its stated mission of producing consistently high-quality
cannabis in large quantities for the commercial market and even with a
342,000-square-foot production space at the company’s hybrid greenhouse
facility, many investors have not heard the last of this up-and-coming
cultivator when it comes to sales.
Surna, Inc. (OTCQB: SRNA) recently
initiated a comprehensive new branding strategy, including the launch of a
new website, in an effort in to draw greater attention to the company’s
emergence as a go-to solutions provider for many in the cultivation industry’
particularly for grow ops looking to optimize energy, water usage, and
ultimately crop yields. Surna prides itself on providing cutting-edge industrial
technology and products for commercial indoor cannabis cultivators. The
company’s user-friendly new site is tailored to Surna’s key demographics, such
as engineers and contractors tasked with configuring indoor grow ops in the U.S.
and Canada, and it is set up in such a way as to facilitate partnering
opportunities with those key demos. The company notes that demand for its
systems comes primarily from the construction of new cultivation facilities in
North America, and said it anticipates more revenue opportunities as more
cultivation facilities become licensed amid regulatory changes. Surna reported
$1.742 million in second-quarter revenues, and recently landed $1.3 million
contract that is currently in the engineering phase.
Emerald Health Therapeutics, Inc. (OTCQX: EMHTF) (TSX-V: EMH.V) is a serious
contender in cannabinoid formulations for medicinal and/or recreational use.
Emerald Health has one of the top batches of cannabis genetics in the sector
today under the company’s thumb, as well as advanced R&D and extraction
technology at its disposal. The last of which is a key point to take note of,
given that cannabis oils have seen exceptional increases in demand, with Health
Canada data alone showing an
871 percent increase in the amount sold to Canadian clients from Q4 2016 to
Q4 2017 (Jan 1 – March 31). Emerald Health Therapeutics announced back in June
that the company is laser-focused on heading towards pharmaceutical formulations
and clinical studies, having established an Advisory Board containing several
highly reputable doctors and professors, who will provide the much-needed
strategic guidance for this process.
General Cannabis Corp. (OTCQB: CANN) is a bit more like SinglePoint in its
approach to the sector and is designed as a synergistic holding company that
provides a one-stop-shop for finding the best cannabis industry service
providers. With competencies spanning real estate, consulting, security,
financing and infrastructure product distribution, General Cannabis is well on
its way to becoming an industry institution. Furthermore, General Cannabis has
organized its architecture of subsidiaries to take full advantage of symbiotic
relationships between them. Next Big Crop, which represents the company’s
operations segment, offers highly professional consulting on cultivation,
processing and sales of cannabis via a full-cycle platform replete with hands-on
experience rendered techniques. Iron Protection Group is CANN’s security
subsidiary and has had its capabilities
prominently featured in The New York Times; capabilities only further
enhanced by the
recent acquisition of Mile High Protection Services as the company seeks to
expand an already sizeable position in Colorado’s thriving cannabis market.
Chiefton Supply Co. is the apparel wing of the operation and, together with
CANN’s brand development and design subsidiary, Chiefton Design, provides a rich
and compelling marketing presence for the company. Q2 results for CANN showed
revenue up 19 percent year over year, driven in large part by the success of the
Next Big Crop subsidiary, which posted a 403 percent increase in revenues over
the aforementioned period.
The broader cannabis industry is budding with potential, and the lineup of
innovators in this global market provides investors a diverse array of
investment opportunities. For SinglePoint, a diversified acquisition strategy
puts the company a unique position to explore and acquire various targets that
keep the company among the leading cannabis plays as it continues to grow its
valuation.
Editorial Sources
1. Hexa Research: http://nnw.fm/aH2Ri
2. Grand View Research http://nnw.fm/PiO4d
For more information on SinglePoint please visit:
SinglePoint, Inc. (OTC: SING) or
www.SinglePoint.com
About NetworkNewsWire
NetworkNewsWire (NNW) is an information service that provides (1) access to our
news aggregation and syndication servers, (2) NetworkNewsBreaks that summarize
corporate news and information, (3) enhanced press release services, (4) social
media distribution and optimization services, and (5) a full array of corporate
communication solutions. As a multifaceted financial news and content
distribution company with an extensive team of contributing journalists and
writers, NNW is uniquely positioned to best serve private and public companies
that desire to reach a wide audience of investors, consumers, journalists and
the general public. NNW has an ever-growing distribution network of more than
5,000 key syndication outlets across the country. By cutting through the
overload of information in today’s market, NNW brings its clients unparalleled
visibility, recognition and brand awareness. NNW is where news, content and
information converge.
NetworkNewsWire (NNW)
New York, New York
www.NetworkNewsWire.com
212.418.1217 Office
Editor@NetworkNewsWire.com
Please see full terms of use and disclaimers on the NetworkNewsWire website
applicable to all content provided by NNW, wherever published or re-published:
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forth above. References to any issuer other than the profiled issuer are
intended solely to identify industry participants and do not constitute an
endorsement of any issuer and do not constitute a comparison to the profiled
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The Article and content related to the profiled company represent the personal
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readers are strongly urged to speak with their own investment advisor and review
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NNW & FNM HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.
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SinglePoint Completes
Acquisition of Dr. FeelGood, a Profitable Cannabis Distribution Company
SEATTLE, WA / 09/06/17 /
SinglePoint, Inc. (OTC PINK: SING) announces the acquisition of Dr.
FeelGood, a profitable cannabis distribution company headquartered in Phoenix,
Arizona. Dr. FeelGood is a leading distribution company with expansion plans to
add proprietary delivery and ordering technology application. Per the agreement
terms, SinglePoint will acquire fifty-one percent (51%) of the company in a
combination of cash and stock, which will allow SinglePoint to recognize all
revenue. The acquisition will add an additional revenue stream to SinglePoint,
solidifying the company's revenue-by-acquisition strategy.
Dr. FeelGood represents the third acquisition of the year for SinglePoint. This
move provides SinglePoint with additional revenue, as well as team members that
have been actively working in the cannabis industry for many years. The founders
of Dr. FeelGood have established a plan to develop a proprietary mobile
application that will enhance the user experience and streamline the company's
operations. The companies look to release this app in the next 90 days; once
completed they will be able to license this technology to other distribution
companies all over the United States.
As SinglePoint continues to grow its portfolio in the cannabis industry, the
broader marijuana market continues to grow as well. A report by the Cannabist
(2016) shows that the cannabis industry will report a steady growth pattern in
the coming
decade. Based on the research, the market will be worth over $20 billion by
2025, more than double its current estimate. Based on data from the New Frontier
(2014), the legal cannabis market enjoys a compound annual growth of 29%.
SinglePoint CEO Greg Lambrecht states, "We are very excited for the success of
this acquisition. The acquisition of Dr. FeelGood is the third acquisition of
the year. SinglePoint's revenue has dramatically increased, which through the
acquisition of DIGS Hydro and Convectium has increased 378x compared to the
first quarter of 2017. SinglePoint is in a better position than it has ever been
before. We are well capitalized to continue acquisitions and we are optimistic
to complete additional acquisitions and very optimistic to significantly
increase the company revenue."
Dr. FeelGood has a wide variety of products that are distributed both B2B and
B2C. Owners Scott Riley and Jeff Clevenger have over 30 years of experience in
building and scaling businesses, including the last six years running a cannabis
distribution business. The two will continue to run day-to-day operations of Dr.
FeelGood with plans to expand the business and license the brand in additional
states. The acquisition offer comes at a time when the industry is rapidly
expanding. In fact, reports suggest that the marijuana market in the United
States is growing faster than the smartphone and the tablet industry (PR News,
2017). As the market continues to expand weekly, Dr. FeelGood has a positive
looking future. According to Forbes (2016), polls show that more Americans are
in support for the legalizing of marijuana as it becomes continually popular for
both recreation and medical reasons.
"This is a big moment for Dr. FeelGood. We know we can grow this business and
with the capital and support of SinglePoint this growth will happen quicker. The
introductions they have put together already are immensely positive for us and
once solidified will exponentially increase our footprint in the market," states
Scott Riley of Dr. FeeGood
Simultaneously, SinglePoint and Dr. FeelGood are collaborating on a delivery
platform. SinglePoint will utilize its location-based delivery application and
add additional features such as a directory and ordering system to directly
compete with Leafly and WeedMaps. Dr. FeelGood already had plans to build the
app and with SinglePoint's head start, the company will be able to utilize the
app much sooner and supply to parties that have already expressed interest.
About the Company
SinglePoint, Inc. (SING) has grown from a full-service mobile technology
provider to a publicly traded holding company. Through diversification into
horizontal markets, SinglePoint is building its portfolio by acquiring an
interest in undervalued subsidiaries, thereby providing a rich, diversified
holding base. Through its subsidiary company SingleSeed the company is providing
products and services to the cannabis industry.
Connect on social media at:
https://www.facebook.com/SinglePointMobile
https://twitter.com/_SinglePoint_
https://www.linkedin.com/company-beta/165982/
For more information visit: www.SinglePoint.com
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, 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.
Technical 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.
Contact:
SinglePoint, Inc.
Greg Lambrecht
602.481.1544
Source: SinglePoint, Inc.
Cannabis Industry Leaders Drive Growth with Acquisition Strategies and
Territorial Expansion
New York, NY – September 6, 2017 –
NetworkNewsWire.com News
Coverage: Exceeding $7.2 billion in 2016, the legal cannabis market is
maintaining a rapid expansion rate, according to Forbes, thanks to a demand for
both medical marijuana and legal adult recreational sales in many U.S. states.
Growth is expected to continue at a compound annual rate of 17 percent, but it
is more than a diverse and accessible customer base fueling the fire. Companies
such as
SinglePoint,
Inc. (OTC: SING) have been busy with acquisitions that have expanded its
capabilities and reach. The company not only serves the legal markets in
Arizona, but also California, Nevada, and potentially other soon-to-be-legal
markets such as Texas. This pattern is industry-wide. Terra Tech Corp. (OTC:
TRTC), MassRoots, Inc. (OTC: MSRT), ABcann Global Corp. (OTC: ABCCF) (TSX-V:
ABCN), and Medical Marijuana, Inc. (OTC: MJNA) have also trended with
acquisitions and expansions, giving the industry the boost everyone has
anticipated.
SinglePoint, Inc. (OTC: SING) recently made two major acquisitions:
Convectium, a manufacturer and supplier of vaporizer filling machines; and DIGS
Hydro, a Southern California dispensary operator. With these two acquisitions,
SinglePoint in the second quarter grew revenues by 378x compared to the first
quarter of 2017 ( http://nnw.fm/82o4T ). As
noted in a press release discussing its current position, SinglePoint’s
acquisition strategy has a third transaction underway.
Detailing the success of the company’s acquisition-based growth strategy,
SinglePoint CEO Greg Lambrecht in a recent press release, said, “…SinglePoint is
in a better position than it has ever been before. We are looking at additional
companies and plan to complete additional acquisitions prior to the end of the
year. We are well capitalized to continue acquisitions and we are optimistic to
complete around three more acquisitions and significantly increase the company's
revenue.”
A closer look at SinglePoint’s acquisition history underscores Mr. Lambrecht’s
favorable sentiment of the company’s position in the cannabis market. Its
90-percent stake in DIGS Hydro, which currently has two operational stores
strategically located close to established licensed growers, has positioned
SinglePoint as a leading provider of a wide range of growing equipment and
accessories for individual and commercial plant cultivators in California (
http://nnw.fm/oh7ZW ). The strategy yields
considerable potential, as recreational cannabis is projected to be fully
legalized by June 2018. DIGS Hydro’s products include all-in-one systems for
growing plants plus grow rooms, supplies, HVAC system setup, hydroponic garden
products, and accessories. Territorial growth into large, opportunistic markets
like this promises to fuel continued growth for the company and the industry.
In March of 2017, SinglePoint made an investment in Convectium, the creator of a
unique oil filling machine capable of filling cartridges or disposable vape pens
for wholesale distribution to dispensaries. Convectium’s 710Shark and 710Seal
system can fill and package up 100+ cartridges or disposable vape pens in 30
seconds. Leaning on the marketability of this first-of-its-kind system for the
cannabis industry, as well as its line of B2C products, Convectium previously
forecast full-year 2017 sales of $3.5 million (
http://nnw.fm/Uz1hR ).
“We have evaluated numerous investment prospects in the cannabis space, and
found there is nothing that compares to this opportunity we have with Convectium,”
Lambrecht stated in a press release announcing the deal (
http://nnw.fm/WrO6R ). “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.”
In August, SinglePoint signed a Letter of Intent to acquire a 51-percent stake
in Phoenix-based medical marijuana distribution company, Dr. FeelGood. With its
acquisition of Dr. FeelGood on the horizon, SinglePoint will soon add another
revenue stream to its model, as well as the decades of expertise of owners Scott
Riley and Jeff Clevenger who will run the daily operations of Dr. FeelGood and
assist with its expansion strategy.
The initial plan calls for the development of a delivery platform utilizing
SinglePoint's location-based delivery application. Additional features, such as
a directory and ordering system to directly compete with Leafly and WeedMaps,
will then be implemented to cement the technology's position in the market. The
collaboration supports Dr. FeelGood’s existing plans to build the app to quickly
meet existing and growing interest it the technology.
While SinglePoint enjoys a unique, diversified position in the cannabis
industry, the company is joined by several other innovators demonstrating the
girth of the market.
Terra Tech Corp. (OTCQX: TRTC) saw a 57.9-percent increase in cannabis-related
sales in Q2 2017 compared to the same period during 2016. The company’s Edible
Garden subsidiary provides locally-grown herbs and greens nationwide, serving
over 40 million medical cannabis customers a month, available at over 1,800
retail outlets. It also recently signed an agreement (
http://nnw.fm/QcAk4 ) to purchase 50 percent
of NuLeaf Sparks Cultivation LLC and NuLeaf Reno Production LLC, giving it
access to the cannabis cultivation and medical market in Nevada. Two production
facilities are under construction in the state from these entities – a
30,000-square-foot facility in Sparks, Nevada, and a 15,000-square-foot facility
in Reno.
MassRoots, Inc. (OTCQB: MSRT) recently announced a $12 million stock deal (
http://nnw.fm/uoKq3 ) in the acquisition of
CannaRegs Inc., a platform able to track cannabis regulation changes at the
municipal, state, and federal level. The company has reported over $450,000 in
contractually obligated annual revenue and is also tapping into the legal
cannabis market in California. It also entered into a Definitive Agreement with
Odava, a company involved in compliance, supply chain management, and
point-of-sale technology. The agreement gives MassRoots access to the Oregon
market, while its December 2016 acquisition of DDDigtal Inc. gave it access to a
high-volume menu management and online ordering platform, which processed more
than $5 million in transactions between May and December that year.
ABcann Global Corp. (OTCQB: ABCCF) (TSX-V: ABCN) recently announced
expansion plans of its own. In Q3 2017, it will build a 100,000-square-foot
facility in Napanee, Ontario, revised from an original phase 1 plan of 71,000
square feet for its Kimmett facility (cultivation is expected to begin by Q4
2018). Also, the company revealed production capacity at the Vanluven facility
will double to serve its growing patient base, with first cultivation
anticipated for Q1 2018. The company also aims to serve the booming Canadian
cannabis market through its acquisition of ABcann Medicinals, one of the
dominant medical growers of organic, pesticide-free product in the country. In
addition, it announced the purchase of land that would increase its production
by 20-fold. With a $43 million cash position only three months after becoming a
publicly traded company, ABcann is positioned as one of the leading medical
cannabis growers in Canada.
Medical Marijuana, Inc. (OTC: MJNA), which merged with CannaBANK in 2011,
revealed an acquisition of Kannaway in 2015, a network marketing company, to
help expand its brand of cannabidiol-based powders, proteins and supplements.
Kannaway’s sales staff in the U.S. and expansion into Europe and South America
didn’t hurt with territorial expansion either. It also has subsidiaries in
Brazil and Mexico, and an investment in AXIM Biotechnologies, a cannabinoid
research and development firm. In July 2017, Kannaway, now an MJNA subsidiary,
announced its largest single-day revenue in company history, and also recently
announced a 135-percent revenue increase in Q1 2017 over the same quarter a year
earlier.
The cannabis industry is growing by leaps and bounds to support demand, helped
by acquisition and territorial expansion activity of leading companies. Ease of
purchase is aiding sales too; case-in-point, www.SingleSeed.com, launched by
SinglePoint to provide a wide variety of business solutions for dispensaries,
retailers and other cannabis companies. The bold strategies of SinglePoint and
other companies appear to be paying off as the broader marijuana market
continues to grow at an accelerated pace.
For more information on SinglePoint please visit:
SinglePoint, Inc. (OTC: SING) or
www.SinglePoint.com
About NetworkNewsWire
NetworkNewsWire (NNW) is an information service that provides (1) access to our
news aggregation and syndication servers, (2) NetworkNewsBreaks that summarize
corporate news and information, (3) enhanced press release services, (4) social
media distribution and optimization services, and (5) a full array of corporate
communication solutions. As a multifaceted financial news and content
distribution company with an extensive team of contributing journalists and
writers, NNW is uniquely positioned to best serve private and public companies
that desire to reach a wide audience of investors, consumers, journalists and
the general public. NNW has an ever-growing distribution network of more than
5,000 key syndication outlets across the country. By cutting through the
overload of information in today’s market, NNW brings its clients unparalleled
visibility, recognition and brand awareness. NNW is where news, content and
information converge.
NetworkNewsWire (NNW)
New York, New York
www.NetworkNewsWire.com
212.418.1217 Office
Editor@NetworkNewsWire.com
Please see full terms of use and disclaimers on the NetworkNewsWire website
applicable to all content provided by NNW, wherever published or re-published:
http://NNW.fm/Disclaimer
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forth above. References to any issuer other than the profiled issuer are
intended solely to identify industry participants and do not constitute an
endorsement of any issuer and do not constitute a comparison to the profiled
issuer. FN Media Group (FNM) is a third-party publisher and news dissemination
service provider, which disseminates electronic information through multiple
online media channels. FNM is NOT affiliated with NNW or any company mentioned
herein. The commentary, views and opinions expressed in this release by NNW are
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NNW & FNM HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.
This release contains "forward-looking statements" within the meaning of Section
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Exchange Act of 1934, as amended and such forward-looking statements are made
pursuant to the safe harbor provisions of the Private Securities Litigation
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"future," "plan" or "planned," "will" or "should," "expected," "anticipates,"
"draft," "eventually" or "projected." You are cautioned that such statements are
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differ materially from those projected in the forward-looking statements as a
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News Source: NetworkNewsWire
SinglePoint Continues
Accelerated Growth in Cannabis Sector with Letter of Intent to Acquire Dr.
FeelGood
SEATTLE, WA / 08/22/17 /
SinglePoint, Inc. (OTC PINK: SING) today announces it has signed a
Letter of Intent (LOI) to acquire Dr. FeelGood, an already profitable
Phoenix-based medical marijuana distribution company with plans to develop a
proprietary delivery and ordering technology. Per the LOI, SinglePoint will
acquire 51% of the company in a combination of cash and stock. The acquisition
will add an additional revenue stream to SinglePoint, solidifying the company's
acquisition-based revenue strategy.
SinglePoint anticipates it will quickly close this acquisition, demonstrating
its ability to grow its portfolio of investments in established high-growth,
high-potential cannabis businesses. SinglePoint successfully acquired two
companies earlier this year, and expects that the acquisition of Dr. FeelGood
will be a highly successfully addition to its portfolio.
"This acquisition is right in our wheel house. I previously took a distribution
company public on the NASDAQ and believe with my experience in distribution we
can grow this company quickly. The acquisition of Dr. FeelGood will be the third
acquisition of the year. Through the acquisition of DIGS Hydro and Convectium,
SinglePoints revenue has increased 378 percent compared to the first quarter of
2017. SinglePoint is in a better position than it has ever been before. We are
looking at additional companies and plan to complete additional acquisitions
prior to the end of the year. We are well
capitalized to continue acquisitions and we are optimistic to complete around
three more acquisitions and significantly increase the company's revenue," says
SinglePoint CEO Greg Lambrecht.
Dr. FeelGood has a wide variety of products that are distributed to both
businesses and consumers. Owners Scott Riley and Jeff Clevenger have over 30
years of experience in building and scaling businesses, including running a
cannabis distribution business. Riley and Clevenger will continue to run
day-to-day operations of Dr. FeelGood and assist with plans to expand the
business and license the brand in additional states.
"This acquisition will enable Dr. FeelGood to quickly ramp up its operations.
With SinglePoint's support and connections into launching new technology, we are
really excited to work together and bring to life a few amazing projects we have
been working on developing. We are confident in our ability to grow this company
exponentially in the first six months of this acquisition," states Riley.
SinglePoint and Dr. FeelGood will first focus on the development of a delivery
platform utilizing SinglePoint's location-based delivery application. Additional
features, such as a directory and ordering system to directly compete with
Leafly and WeedMaps, will then be implemented to cement the technology's
position in the market. Dr. FeelGood has existing plans to build the app, and
expects that a collaboration with SinglePoint will help the company utilize the
app sooner-than-expected to meet existing and growing interest.
SinglePoint continues to establish its portfolio in the cannabis sector,
well-paced with broader industry growth. A report by the Cannabist (2016) shows
that the cannabis industry will report a steady growth pattern in the coming
decade. Based on the research, by 2025 the cannabis market will be worth over
$20 billion, more than double its current estimate. Based on data from the New
Frontier (2014), the legal cannabis market enjoys a compound annual growth of
29%.
About the Company
SinglePoint, Inc. (SING) has grown from a full-service mobile technology
provider to a publicly traded holding company. Through diversification into
horizontal markets, SinglePoint is building its portfolio by acquiring an
interest in undervalued subsidiaries, thereby providing a rich, diversified
holding base. Through its subsidiary company SingleSeed (www.SingleSeed.com) the
company is providing products and services to the cannabis industry. For more
information, visit www.SinglePoint.com
Connect on social media at:
https://www.facebook.com/SinglePointMobile
https://twitter.com/_SinglePoint_
https://www.linkedin.com/company-beta/165982/
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, 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.
Technical 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.
Contact:
SinglePoint, Inc.
Greg Lambrecht
602.481.1544
Source: SinglePoint, Inc.
Cannabis and Cryptocurrency: The Time Is Now
New York, NY – August 22, 2017 –
NetworkNewsWire.com News
Coverage: Two booming markets are intersecting in the United States
right now: legal cannabis and bitcoin. America’s cannabis market is predicted to
reach a valuation of up to $50
billion by 20261, and the value of bitcoin
reached record highs in August, surpassing $4,000 per coin and remaining above
that mark as of August 192. Both unquestionably hot market segments right now,
cannabis and bitcoin are now being linked thanks to the enterprising efforts of
companies like
SinglePoint, Inc. (OTC: SING), which aims to utilize bitcoin in
addressing a problem currently faced by legal cannabis businesses in the U.S.: a
lack of banking options due to federal restrictions. The activities of companies
like Bitcoin Services, Inc. (OTC: BTSC), Bitcoin Investment Trust (OTC: GBTC),
Advanced Micro Devices, Inc. (NASDAQ: AMD) and NVIDIA Corp. (NASDAQ: NVDA)
attest to the red-hot market status that bitcoin and other cryptocurrencies are
enjoying right now. As a solution for currently “unbankable” legal marijuana
businesses, cryptocurrency seems like a perfect fit.
The new bitcoin exchange being pioneered by
SinglePoint, Inc. (OTC: SING) aims to provide cannabis merchants with a
means of processing debit and credit card transactions independent of banks and
the FDIC ( http://nnw.fm/Ln5ot ). This will
not only allow marijuana businesses to begin conducting non-cash transactions
(cash currently being the only option for most), but it will also allow
customers to purchase cannabis products with their debit and credit cards, just
as they would purchase any other type of merchandise at any other type of store.
SinglePoint is developing an in-house solution that would allow cannabis
consumers to obtain bitcoin at any point of sale and instantly make bitcoin-powered
purchases using their debit and credit cards. Users will be able to sign up
prior to
visiting a vendor or sign up quickly right at the point of sale. A beta version
of SinglePoint’s bitcoin solution is set to debut in November at the Las Vegas
Marijuana Business MJBIZCON event.
While similar solutions exist internationally, SinglePoint is an early mover in
bringing this technology to the U.S. The solution will be KYC-AML compliant, and
it will be applicable outside of the cannabis market and could be utilized by
any kind of business desiring to offer an option for bitcoin transactions.
Though the beta launch is still a few months away, potential patrons are already
signing up through SinglePoint’s website.
A cannabis-specific cryptocurrency known as $Weed was recently purchased (
http://nnw.fm/M9vYG ) by SinglePoint from
First Bitcoin Capital Corp (BITCF) and will also be incorporated into
SinglePoint’s cryptocurrency solution, enabling marijuana dispensaries and
customers to complete transactions using either bitcoin or $Weed. A recent
initial coin offering (ICO) for $Weed resulted in an impressive yet illiquid
market cap of nearly $60 million.
While cryptocurrency wallets can be obtained at the point of sale through
SinglePoint’s solution, SinglePoint and BITCF intend to implement a
consumer-first approach and invest heavily in enticing customers to sign up for
their cryptocurrency wallets ahead of time. This will ensure consumers can make
their onsite cannabis product purchases without delay, and it also lets vendors
deploy loyalty programs, special offers and more and to access consumer data
regarding products.
For additional information about SinglePoint’s operations, view the company’s IR
Kit here:
http://www.networknewswire.info/sing/ir/ .
Considered the most valuable of the cryptocurrencies, bitcoin has exploded in
value and popularity, with many companies and businesses jumping on the
bandwagon to either offer bitcoin-related services or accept bitcoin as a
currency. Other entities are busily developing and offering their own
“bitcoin-esque” cryptocurrencies.
A company primarily engaged in mining bitcoin and developing and selling
blockchain software, Bitcoin Services, Inc. (OTC: BTSC), began mining its own
cryptocurrency, known as Dash, in the first quarter of 2017. The company also
recently created a new subsidiary, Crypto Capital Corp., to develop a
cryptocurrency wallet that will allow users to securely store multiple digital
currencies, all in one wallet.
Bitcoin Investment Trust (OTC: GBTC), stands out as the first publicly quoted
bitcoin investment vehicle, enabling investors to invest in digital currency
without actually buying bitcoins. A U.S.-based, open-ended grantor trust
sponsored by Grayscale Investments, Bitcoin Investment Trust is exclusively
invested in bitcoin. Its shares are the very first publicly quoted securities to
be exclusively invested in and derive value from the price of bitcoin. Through
Bitcoin Investment Trust, investors are able to gain exposure to bitcoin’s price
movement through a traditional investment vehicle, free of the challenges
associated with buying, storing and safeguarding bitcoins. For 2017, Bitcoin
Investment Trust was named one of OTC Market Group’s “OTCQX Best 50.”
Rival companies Advanced Micro Devices, Inc. (NASDAQ: AMD) and NVIDIA Corp.
(NASDAQ: NVDA) have each cashed in big during 2017 with their respective
offerings of powerful graphic cards, which miners of bitcoin and ether (a
cryptocurrency used on the Ethereum blockchain) have been using to mine new
coins. The recent cryptocurrency mining boom is being credited with driving up
sales of the graphic processor units (GPUs) offered by these companies as
cryptocurrency miners attempt to generate as much currency as they possibly can.
There probably isn’t a better time than now for a cannabis cryptocurrency
solution to hit market. Both the legal cannabis and cryptocurrency markets are
currently on fire, and merging these two hot markets can only equal success
right now for the companies that accomplish it.
Editorial Sources:
(1) Bloomberg.com: http://nnw.fm/JSGp1
(2) Bitcoin.com: http://nnw.fm/zo7JB
For more information on SinglePoint please visit:
SinglePoint, Inc. (OTC: SING) or
www.SinglePoint.com
About NetworkNewsWire
NetworkNewsWire (NNW) is an information service that provides (1) access to our
news aggregation and syndication servers, (2) NetworkNewsBreaks that summarize
corporate news and information, (3) enhanced press release services, (4) social
media distribution and optimization services, and (5) a full array of corporate
communication solutions. As a multifaceted financial news and content
distribution company with an extensive team of contributing journalists and
writers, NNW is uniquely positioned to best serve private and public companies
that desire to reach a wide audience of investors, consumers, journalists and
the general public. NNW has an ever-growing distribution network of more than
5,000 key syndication outlets across the country. By cutting through the
overload of information in today’s market, NNW brings its clients unparalleled
visibility, recognition and brand awareness. NNW is where news, content and
information converge.
NetworkNewsWire (NNW)
New York, New York
www.NetworkNewsWire.com
212.418.1217 Office
Editor@NetworkNewsWire.com
Please see full terms of use and disclaimers on the NetworkNewsWire website
applicable to all content provided by NNW, wherever published or re-published:
http://NNW.fm/Disclaimer
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forth above. References to any issuer other than the profiled issuer are
intended solely to identify industry participants and do not constitute an
endorsement of any issuer and do not constitute a comparison to the profiled
issuer. FN Media Group (FNM) is a third-party publisher and news dissemination
service provider, which disseminates electronic information through multiple
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The Article and content related to the profiled company represent the personal
and subjective views of the Author, and are subject to change at any time
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readers are strongly urged to speak with their own investment advisor and review
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NNW & FNM HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.
This release contains "forward-looking statements" within the meaning of Section
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Exchange Act of 1934, as amended and such forward-looking statements are made
pursuant to the safe harbor provisions of the Private Securities Litigation
Reform Act of 1995. "Forward-looking statements" describe future expectations,
plans, results, or strategies and are generally preceded by words such as "may",
"future", "plan" or "planned", "will" or "should", "expected," "anticipates",
"draft", "eventually" or "projected". You are cautioned that such statements are
subject to a multitude of risks and uncertainties that could cause future
circumstances, events, or results to differ materially from those projected in
the forward-looking statements, including the risks that actual results may
differ materially from those projected in the forward-looking statements as a
result of various factors, and other risks identified in a company's annual
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News Source: NetworkNewsWire
Record Bitcoin Gains Indicate High Times Ahead for Cannabis Cryptocurrency
New York, NY – August 15, 2017 –
NetworkNewsWire.com News
Coverage: Within America’s explosive legal cannabis market—projected
to potentially reach a staggering $50 billion valuation by 20261—legal
uncertainties and blockades continue to pose challenges. One of these challenges
is a lack of banking options for marijuana merchants, who are largely forced to
conduct cash transactions, as cannabis businesses currently do not have the
backing of the FDIC and,
consequently,
do not have access to traditional banking options. Necessity is the mother of
invention, and enterprising companies are endeavoring to skirt federal
restrictions and provide cannabis companies with innovative financial
transaction options to meet their growing needs. One company racing to fill this
cannabis payment options void is standout player
SinglePoint, Inc. (OTC: SING), which is currently on the fast-track to
debuting a payment processing solution utilizing cryptocurrency. This pioneering
solution has been developed in collaboration with First Bitcoin Capital Corp.
(OTC: BITCF). The validity and promising potential of bitcoin as a solution for
marijuana vendors is apparent in view of the staggering success of bitcoin,
evidenced in recent gains and in the activities of companies like Bitcoin
Services, Inc. (OTC: BTSC), Amazon.com, Inc. (NASDAQ: AMZN) and Overstock.com,
Inc. (NASDAQ: OSTK).
As of August 14, bitcoin continued its hike to reach a record high of $4,302.36
per coin. Overall, bitcoin has gained about 80 percent since July and, since the
start of 2017, has gained a whopping 257 percent2. Such activity clearly shows a
promising future for bitcoin and other cryptocurrencies like it.
SinglePoint, Inc. (OTC: SING) is right at the cutting edge of employing
cryptocurrency as a solution for businesses within the cannabis market. The
company plans to launch a beta version of its bitcoin solution at the Las Vegas
Marijuana Business MJBIZCON event, which takes place November 14-17.
SinglePoint’s new bitcoin exchange (http://nnw.fm/Ln5ot) is targeted at
providing cannabis businesses with a user-friendly means of accepting debit and
credit card payments and will give marijuana consumers the same convenience,
allowing them to make purchases with their cards just as they would purchase any
item at any other kind of store. SinglePoint has begun developing an in-house
solution that would enable marijuana users to obtain bitcoin at any point of
sale and to make instant purchases powered by bitcoin when all they have is a
debit or credit card. When launched, this solution will be applicable to other
markets, as well, and could be deployed by any type of business wishing to offer
a bitcoin transaction option—not cannabis companies only.
SinglePoint’s bitcoin application will be KYC-AML compliant. Customers will be
able to sign up for an account online prior to visiting a merchant, or they can
do it in seconds right at the point of sale. Similar solutions have been
deployed
internationally, but SinglePoint is in an early-mover position to bring such
technology to the United States. Though still a few months from its beta launch
for the solution, SinglePoint is already amassing potential customers through
its website.
SinglePoint recently purchased $Weed from First Bitcoin Capital (OTC: BITCF) and
will incorporate this cannabis-specific cryptocurrency into its bitcoin
solution, so cannabis dispensaries and consumers can accept/use either bitcoin,
$Weed coin or both (http://nnw.fm/M9vYG). The recent initial coin offering (ICO)
launch for the $Weed cryptocurrency resulted in an impressive yet illiquid
market cap of almost $60 million.
SinglePoint and First Bitcoin Capital plan take a consumer-first approach and
heavily invest in getting customers to sign up for cryptocurrency wallets in
advance. The benefits of this approach include ensuring customers can make their
in-store purchase as quickly as possible, and it will also enable merchants to
build in loyalty programs, special offers and more as well as to gain insights
regarding which products are being purchased, how many are being sold, etc.
As shown in the broad potential of SinglePoint’s cryptocurrency solution,
bitcoin has widespread application that includes but also goes far beyond the
cannabis market. For more on SinglePoint’s operations, visit the company’s IR
Kit here:
http://www.networknewswire.info/sing/ir/
Other companies, like Bitcoin Services Inc. (OTC: BTSC), are also working to
offer cryptocurrency transaction options to consumers. In the first quarter of
2017, Bitcoin Services began mining its Dash cryptocurrency, and the company has
also recently created a new subsidiary, Crypto Capital Corp., which is
developing a new crypto currency wallet that will allow users to store multiple
digital currencies all in one wallet. Bitcoin Services Inc. is an Internet-based
company focused on bitcoin mining and blockchain software development.
Demand for bitcoin continues to increase with its price, and big-name retailers
are shifting gears to accommodate this demand. Consumers throughout the world
can now make purchases through electronic commerce giant Amazon.com, Inc.
(NASDAQ: AMZN) using bitcoin. While Amazon does not currently accept bitcoin
directly, Purse.io connects bitcoin shoppers with Amazon gift card holders via
an app. The bitcoin shopper selects a desired product on Amazon and creates a
wish list for the item on Purse.io. The holder of an unwanted (and not
redeemable for cash) Amazon gift card then purchases the bitcoin shopper’s
desired item with the gift card, and the item is shipped to the bitcoin
consumer. In exchange, the gift card holder receives a bitcoin payment for the
gift card. This Purse.io feature has provided billions of shoppers with the
option of making Amazon purchases on their iOS and Android devices using bitcoin.
It also lets consumers who don’t have bank accounts or credit cards use Amazon’s
e-commerce platform, and the service further enables merchants to register their
Purse accounts and sell directly on Amazon’s e-commerce platform.
Another major e-commerce player, Overstock.com, Inc. (NASDAQ: OSTK), does accept
bitcoin directly and stood out as the first major retailer to do so, commencing
acceptance of the cryptocurrency in January 2014. Overstock.com partnered with
bitcoin platform Coinbase to accept the digital currency. Later in 2014, the
company also created subsidiary Medici Ventures to focus on the development and
advancement of blockchain technology.
It seems clear that cryptocurrencies—with bitcoin shining as the most valuable
among them—are here to stay and likely represent what the future of financial
transactions will look like. As a prime solution for unbankable cannabis
businesses and beyond, bitcoin seems to have a very bright future, indeed.
NNW Editorial Sources:
(1) Bloomberg.com: http://nnw.fm/JSGp1
(2) Business Insider: http://nnw.fm/3cbMT
For more information on SinglePoint please visit:
SinglePoint, Inc. (OTC: SING) or
www.SinglePoint.com
About NetworkNewsWire
NetworkNewsWire (NNW) is an information service that provides (1) access to our
news aggregation and syndication servers, (2) NetworkNewsBreaks that summarize
corporate news and information, (3) enhanced press release services, (4) social
media distribution and optimization services, and (5) a full array of corporate
communication solutions. As a multifaceted financial news and content
distribution company with an extensive team of contributing journalists and
writers, NNW is uniquely positioned to best serve private and public companies
that desire to reach a wide audience of investors, consumers, journalists and
the general public. NNW has an ever-growing distribution network of more than
5,000 key syndication outlets across the country. By cutting through the
overload of information in today’s market, NNW brings its clients unparalleled
visibility, recognition and brand awareness. NNW is where news, content and
information converge.
NetworkNewsWire (NNW)
New York, New York
www.NetworkNewsWire.com
212.418.1217 Office
Editor@NetworkNewsWire.com
Please see full terms of use and disclaimers on the NetworkNewsWire website
applicable to all content provided by NNW, wherever published or re-published:
http://NNW.fm/Disclaimer
DISCLAIMER: NetworkNewsWire (NNW) is the source of the Article and content set
forth above. References to any issuer other than the profiled issuer are
intended solely to identify industry participants and do not constitute an
endorsement of any issuer and do not constitute a comparison to the profiled
issuer. FN Media Group (FNM) is a third-party publisher and news dissemination
service provider, which disseminates electronic information through multiple
online media channels. FNM is NOT affiliated with NNW or any company mentioned
herein. The commentary, views and opinions expressed in this release by NNW are
solely those of NNW and are not shared by and do not reflect in any manner the
views or opinions of FNM. Readers of this Article and content agree that they
cannot and will not seek to hold liable NNW and FNM for any investment decisions
by their readers or subscribers. NNW and FNM and their respective affiliated
companies are a news dissemination and financial marketing solutions provider
and are NOT registered broker-dealers/analysts/investment advisers, hold no
investment licenses and may NOT sell, offer to sell or offer to buy any
security.
The Article and content related to the profiled company represent the personal
and subjective views of the Author, and are subject to change at any time
without notice. The information provided in the Article and the content has been
obtained from sources which the Author believes to be reliable. However, the
Author has not independently verified or otherwise investigated all such
information. None of the Author, NNW, FNM, or any of their respective
affiliates, guarantee the accuracy or completeness of any such information. This
Article and content are not, and should not be regarded as investment advice or
as a recommendation regarding any particular security or course of action;
readers are strongly urged to speak with their own investment advisor and review
all of the profiled issuer's filings made with the Securities and Exchange
Commission before making any investment decisions and should understand the
risks associated with an investment in the profiled issuer's securities,
including, but not limited to, the complete loss of your investment.
NNW & FNM HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.
This release contains "forward-looking statements" within the meaning of Section
27A of the Securities Act of 1933, as amended, and Section 21E the Securities
Exchange Act of 1934, as amended and such forward-looking statements are made
pursuant to the safe harbor provisions of the Private Securities Litigation
Reform Act of 1995. "Forward-looking statements" describe future expectations,
plans, results, or strategies and are generally preceded by words such as "may",
"future", "plan" or "planned", "will" or "should", "expected," "anticipates",
"draft", "eventually" or "projected". You are cautioned that such statements are
subject to a multitude of risks and uncertainties that could cause future
circumstances, events, or results to differ materially from those projected in
the forward-looking statements, including the risks that actual results may
differ materially from those projected in the forward-looking statements as a
result of various factors, and other risks identified in a company's annual
report on Form 10-K or 10-KSB and other filings made by such company with the
Securities and Exchange Commission. You should consider these factors in
evaluating the forward-looking statements included herein, and not place undue
reliance on such statements. The forward-looking statements in this release are
made as of the date hereof and NNW and FNM undertake no obligation to update
such statements.
Media Contact e-mail: FN Media Group, LLC - editor@financialnewsmedia.com
(954)345-0611
News Source: NetworkNewsWire
SinglePoint Inc. Announces
Purchase of $Weed as Money from Joint Venture Partner First Bitcoin Capital
SEATTLE, WA / 08/08/17 /
SinglePoint, Inc. (OTC PINK: SING) announces its purchase of $Weed which
is one of the newest fiat currencies floated in the booming Cryptocurrency
markets. The large block purchase is from crypto industry leader, First Bitcoin
Capital (OTC: BITCF). After many months of collaboration, the two companies have
decided this initiative is the starting point for a much larger play in the
cryptocurrency markets. Weed "Coin" is a crypto currency geared toward solving
the payment problems found in the cannabis industry. The coin recently had its
ICO launch resulting in an impressive yet illiquid market cap of close to
$60,000,000.
Currently WeedCoin is already listed on three exchanges. SinglePoint and First
Bitcoin Capital plan to list and market the coin on many more exchanges soon.
Additional listings and marketing efforts could generate greater interest levels
found in such competitors as PotCoin as part of a partnership to move towards a
massive consumer first approach. The consumer first approach overcomes the
traditional issues of making a payment at dispensaries using cryptocurrencies.
A big barrier in making a payment at cannabis retail stores using cryptocurrency
is the consumers do not yet have a wallet set up. This takes time and slows down
this entire process. SinglePoint and First Bitcoin Capital plan to invest
heavily in
getting the consumers to sign up first, making sure they have the ability to
quickly go in and make a purchase from a dispensary, painlessly. The consumer
approach also lets the companies build in multiple programs such as loyalty,
special offers, and the ability to track what kinds of products people are
buying which leads to a massive database of what is popular, how much it is
being sold for on average and many more insights to the cannabis industry.
The companies both believe that with the proper execution, users should find a
similar experience to using Starbucks' mobile payment system. An easy preload of
your card, which enables you to purchase $Weed as money, instantly, then the
employee at point of sale rings up your total and the consumers scan a barcode
from their smart phone or tablet.
If you would like to acquire $Weed as a digital coin you can participate through
any of the following three exchanges:
https://www.cryptopia.co.nz/Exchange/?market=WEED_BTC
http://omnichest.info/lookupmarket.aspx?spa=191&spb=1
CoinQX.com - Must have a registered account to view trade data.
About the Company
SinglePoint, Inc. (SING) has grown from a full-service mobile technology
provider to a publicly traded holding company. Through diversification into
horizontal markets, SinglePoint is building its portfolio by acquiring an
interest in undervalued subsidiaries, thereby providing a rich, diversified
holding base. Through its subsidiary company SingleSeed the company is providing
products and services to the cannabis industry.
Connect on social media at:
https://www.facebook.com/SinglePointMobile
https://twitter.com/_SinglePoint_
https://www.linkedin.com/company-beta/165982/
For more information visit: www.SinglePoint.com
About First Bitcoin Capital Corp
First Bitcoin Capital Corp is engaged in developing digital currencies,
proprietary Blockchain technologies, and the digital currency exchange-
www.CoinQX.com. We see this step as a tremendous opportunity to create further
shareholder value by leveraging management's experience in developing and
managing complex Blockchain technologies, developing new types of digital
assets. Being the first publicly-traded cryptocurrency and blockchain-centered
company (with shares both traded in the US OTC Markets as [BITCF] and as [BIT]
in crypto exchanges) we want to provide our shareholders with diversified
exposure to digital crypto currencies and blockchain technologies. At this time
the Company owns and operates more than the following digital assets under
development:
www.CoinQX.com cryptocurrency exchange, registered with FinCEN.
https://www.omniwallet.org/assets/details/309 Latest Active ICO for Loyalty
(FLY)
www.altcoinmarketcap.com market capitalization for all cryptocurrencies with up
and down voting by altcoin communities.
www.Alphabitcoinfund.com world's first crypto ETF.
www.strain.ID cannabis strains genetic information depository on decentralized
Blockchain.
www.iCoiNEWS.com real time cryptocurrency and Bitcoin news site.
www.BITminer.cc providing mining pool management services.
www.2016coin.org online daily election coverage and home page for $PRES, $HILL,
$GARY& $BURN -commemorative presidential election coins.
www.bitcannpay.com Open Loop merchant services for dispensaries.
List of most Omni protocol coins issued on the Bitcoin Blockchain and owned by
the Company: http://omnichest.info/lookupadd.aspx?address=1FwADyEvdvaLNxjN1v3q6tNJCgHEBuABrS
Second Omni wallet owned by CoinQX reflecting our airline mileage tokens issued:
http://omnichest.info/lookupadd.aspx?address=1VuF26AgLyQ4tBoGzYTWRqtDG9zCB7QXe
Third (managed) Omni wallet owned by COINQX: http://omnichest.info/lookupadd.aspx?address=1M18oycUdsXv4pKyLLiASREcRGzPu22MxK
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, 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.
Technical 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.
Contact:
SinglePoint, Inc.
Greg Lambrecht
602.481.1544
Source: SinglePoint, Inc.
Absent Federal Banking Support,
Cannabis Market Shows Growing Interest in Proprietary Bitcoin Payment Solutions
New York, NY – August 8, 2017 –
NetworkNewsWire.com News
Coverage: The legal marijuana industry continues its impressive
growth, despite the inability to access a wide range of banking solutions, given
that cannabis is still classified as a Schedule I substance by the Federal
government. Similarly, bitcoin is a booming market, recently hitting an all-time
high of $3,0001 per unit. These two fast-growing markets are already working
together, providing investors with significant and diversified opportunities.
Several companies, such as
SinglePoint, Inc. (OTC: SING), First Bitcoin Capital Corp. (OTC:
BITCF),
Epazz, Inc. (OTC: EPAZ) and Bitcoin Services, Inc. (OTC: BTSC), are focused on
innovative bitcoin-based payment solutions to benefit the legal marijuana
industry and provide large market players such as Hemp, Inc. (OTC: HEMP) with
the necessary financial tools to profit and thrive.
Because of federal regulations barring traditional financial institutions and
credit card companies from offering their services, the booming marijuana
industry, with almost $7 billion in reported sales2 last year, is facing a
massive cash flow problem. Cannabis merchants are forced to accept cash-only
transactions, which create a constant security threat and accounting issues,
further limiting most companies’ ability to grow and expand their business. More
and more marijuana businesses are therefore turning to bitcoin solutions as a
buffer that allows customers to use their credit cards for purchases. With
bitcoin a developing and volatile vertical, cannabis companies are looking
toward proprietary bitcoin payment solutions developed specifically for the
marijuana market.
This is where specialized holding company
SinglePoint, Inc. (OTC: SING) comes in. The mobile technology provider
is developing (http://nnw.fm/2wJlF) a proprietary bitcoin exchange system aimed
at solving payment processing issues in high-risk markets including the cannabis
industry. This in-house solution will allow consumers to obtain bitcoin at any
point of sale and will be available for use to any legal marijuana business in
the 29 states and the District of Columbia where cannabis has been legalized.
The proprietary system is built for SinglePoint by TopTal, a San Francisco-based
freelance engineering company, and is designed to make instant Bitcoin-based
purchases for customers who want to use their credit or debit cards instead of
cash.
In development since 2014, the new system is KYC-AML-compliant and will be the
first of its kind to be used across the United States, with similar solutions
already being implemented abroad, according to SinglePoint. The bitcoin exchange
is designed with simplicity in mind in order to make the customer experience as
easy as possible. Consumers can sign up
directly at the point-of-sale or set up an account online before the purchase,
swipe their cards and pay, just as they would with any regular card payment.
“With the currencies new found consumer adoption we believe this is the time to
execute and we are doing that in a big way. We have employed an expert and he
has architected exactly what we need. Sign up, Swipe and Pay. At the end of the
transaction if there is left over Bitcoin the consumer walks away with it. The
bottom line is, it's easy and almost gives the customer the same experience they
are used to using every day," Wil Ralston, president of SinglePoint, stated in a
recent press release.
Being an early mover in this segment offers SinglePoint a major opportunity for
additional revenue from transactional and platform fees, and to position itself
to tap into a largely underserved market.
Aside from the bitcoin system, SinglePoint offers a wide range of marketing and
payment processing solutions and services to the legal marijuana industry via
subsidiary SingleSeed (http://nnw.fm/3JAie). A recent online audio press release
(http://nnw.fm/Kzrh2) illustrates how management is steering SinglePoint’s
transition into a diversified holding company. As part of its acquisition-based
growth strategy, the company also acquired Convectium, a provider of equipment,
branding and packaging solutions that manufactures a highly innovative cartridge
and vape pen oil filling system - the first such system available for wholesale
distribution to dispensaries. The acquisition, along with SingleSeed services
and its development of bitcoin technology for the industry, has given
SinglePoint an edge with investors in the legal marijuana market, enabling it to
grow at an accelerated rate and put together the capital needed for further
development.
Furthermore, SinglePoint partnered with First Bitcoin Capital Corp. (OTC: BITCF),
a provider of blockchain and bitcoin technology. The two companies have a
joint-venture agreement to build and distribute the best bitcoin solution
available for the cannabis industry and other high-risk markets. Described as
the world’s most prolific issuer of digital currencies, First Bitcoin Capital is
the first publicly traded bitcoin entity, with plans to vertically consolidate
each segment of the cryptocurrency space. After acquiring control of the world’s
first cryptocurrency ETF, AlphaBIT, in July, the company is set to make history
again by becoming the first to pay dividends to shareholders in the form of
cryptocurrency, according to a recent press release (http://nnw.fm/o5Y9u).
Another bitcoin-based payment system for the fast-growing cannabis industry
comes from cloud-based software solutions provider Epazz, Inc. (OTC: EPAZ).
Launched three months ago, Epazz’s Zenpay system is based on a unique cannabis
payment software that allows consumers to use the cryptocurrency for easy store
purchases while offering complete anonymity – the consumer would not be required
to share his or her name or personal details. Currently in beta testing, the
Zenpay system can be seamlessly integrated with merchant stores’ flow and, thus,
help fill the industry’s need for a reliable payment solution. Epazz expects the
system to start generating revenue later this year, as it can be licensed to
vendors in several states.
Bitcoin Services, Inc. (OTC: BTSC), the first blockchain-focused U.S public
company, has taken bitcoin-based payment solutions one step further by creating
an online marketplace where the cryptocurrency can be exchanged for goods and
services. The online shop covers multiple verticals, including health and
fitness, real estate, automotive, electronics, apparel, catering, etc. and is
available for users all over the world. Bitcoin payments can be made without
requiring any personal information, thus offering enhanced protection against
identity theft. In addition to this massive marketplace, Bitcoin Services is
developing a new cryptocurrency wallet that will allow users to store multiple
digital currencies and has also begun mining Monero - one of the top digital
currencies with a market cap of more than $300 million.
These innovative bitcoin-payment solutions can greatly benefit the cannabis
industry at large, including major players such as Hemp, Inc. (OTC: HEMP), a
provider of hemp-based products and services to the recreational and medical
marijuana industries, as well as owner of a website providing related news and
entertainment. Hemp recently got one step closer to its long-term goal of
becoming the leader of the U.S. industrial hemp industry by opening its own
processing facility (http://nnw.fm/XwRm8). The 70,000-square-foot hemp mill
located in North Carolina is the result of three and a half years of hard work
and an investment of millions of dollars. The facility is the largest in North
America and has already started processing its first product, marking the start
of a new chapter in the company’s journey: to focus on marketing efforts and
enhance its production capabilities to meet rising demand.
In the absence of other payment alternatives and access to the federal banking
system, the legal marijuana industry will have no other solution but to expand
its use of bitcoin as a bridge between consumers and cannabis services.
Involvement in this vertical will make both cannabis merchants and payment
solution providers more appealing to investors looking for lucrative
opportunities in two booming industries that show no sign of stopping anytime
soon.
Editorial Sources:
1. Tech Crunch http://nnw.fm/w2B9n
2. Entrepreneur http://nnw.fm/5fdZY
For more information on SinglePoint please visit:
SinglePoint, Inc. (OTC: SING) or
www.SinglePoint.com
About NetworkNewsWire
NetworkNewsWire (NNW) is an information service that provides (1) access to our
news aggregation and syndication servers, (2) NetworkNewsBreaks that summarize
corporate news and information, (3) enhanced press release services, (4) social
media distribution and optimization services, and (5) a full array of corporate
communication solutions. As a multifaceted financial news and content
distribution company with an extensive team of contributing journalists and
writers, NNW is uniquely positioned to best serve private and public companies
that desire to reach a wide audience of investors, consumers, journalists and
the general public. NNW has an ever-growing distribution network of more than
5,000 key syndication outlets across the country. By cutting through the
overload of information in today’s market, NNW brings its clients unparalleled
visibility, recognition and brand awareness. NNW is where news, content and
information converge.
NetworkNewsWire (NNW)
New York, New York
www.NetworkNewsWire.com
212.418.1217 Office
Editor@NetworkNewsWire.com
Please see full terms of use and disclaimers on the NetworkNewsWire website
applicable to all content provided by NNW, wherever published or re-published:
http://NNW.fm/Disclaimer
DISCLAIMER: NetworkNewsWire (NNW) is the source of the Article and content set
forth above. References to any issuer other than the profiled issuer are
intended solely to identify industry participants and do not constitute an
endorsement of any issuer and do not constitute a comparison to the profiled
issuer. FN Media Group (FNM) is a third-party publisher and news dissemination
service provider, which disseminates electronic information through multiple
online media channels. FNM is NOT affiliated with NNW or any company mentioned
herein. The commentary, views and opinions expressed in this release by NNW are
solely those of NNW and are not shared by and do not reflect in any manner the
views or opinions of FNM. Readers of this Article and content agree that they
cannot and will not seek to hold liable NNW and FNM for any investment decisions
by their readers or subscribers. NNW and FNM and their respective affiliated
companies are a news dissemination and financial marketing solutions provider
and are NOT registered broker-dealers/analysts/investment advisers, hold no
investment licenses and may NOT sell, offer to sell or offer to buy any
security.
The Article and content related to the profiled company represent the personal
and subjective views of the Author, and are subject to change at any time
without notice. The information provided in the Article and the content has been
obtained from sources which the Author believes to be reliable. However, the
Author has not independently verified or otherwise investigated all such
information. None of the Author, NNW, FNM, or any of their respective
affiliates, guarantee the accuracy or completeness of any such information. This
Article and content are not, and should not be regarded as investment advice or
as a recommendation regarding any particular security or course of action;
readers are strongly urged to speak with their own investment advisor and review
all of the profiled issuer's filings made with the Securities and Exchange
Commission before making any investment decisions and should understand the
risks associated with an investment in the profiled issuer's securities,
including, but not limited to, the complete loss of your investment.
NNW & FNM HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.
This release contains "forward-looking statements" within the meaning of Section
27A of the Securities Act of 1933, as amended, and Section 21E the Securities
Exchange Act of 1934, as amended and such forward-looking statements are made
pursuant to the safe harbor provisions of the Private Securities Litigation
Reform Act of 1995. "Forward-looking statements" describe future expectations,
plans, results, or strategies and are generally preceded by words such as "may",
"future", "plan" or "planned", "will" or "should", "expected," "anticipates",
"draft", "eventually" or "projected". You are cautioned that such statements are
subject to a multitude of risks and uncertainties that could cause future
circumstances, events, or results to differ materially from those projected in
the forward-looking statements, including the risks that actual results may
differ materially from those projected in the forward-looking statements as a
result of various factors, and other risks identified in a company's annual
report on Form 10-K or 10-KSB and other filings made by such company with the
Securities and Exchange Commission. You should consider these factors in
evaluating the forward-looking statements included herein, and not place undue
reliance on such statements. The forward-looking statements in this release are
made as of the date hereof and NNW and FNM undertake no obligation to update
such statements.
Media Contact e-mail: FN Media Group, LLC - editor@financialnewsmedia.com
(954)345-0611
News Source: NetworkNewsWire
SinglePoint Developing a
Proprietary Bitcoin Exchange to Solve Payment Processing Issues in High Risk
Markets
SEATTLE, WA / 08/07/17 /
SinglePoint, Inc. (OTC PINK: SING) is providing a first-hand look at the
company's new Bitcoin exchange aimed toward solving the payments issues plaguing
today's cannabis industry. Currently, there is no standard for payment
processing the cannabis market. It is an underserved market with vast
opportunity for technology to solve the payments issue.
SinglePoint has started building an in-house solution enabling consumers to
obtain Bitcoin at any point of sale. The new solution can be utilized by any
business, from convenience stores to medical and recreation cannabis
dispensaries. The company states it will be "a payment service to make instant
bitcoin powered purchases possible when all you have is a credit (or debit)
card."
The company has done extensive research and the application will be KYC-AML
compliant. Through a simple sign up form and easy ID verification component a
customer will be able to set up their account online beforehand or will be able
to sign up within seconds directly at the point of sale. SinglePoint has seen a
similar type of solution being utilized abroad but not yet in the United States.
As an early mover in building this solution company management is confident
there will be a strong market for the solution and has already starting
collecting potential customers through the company website.
Beyond Bitcoin, SinglePoint is currently in negotiations to make a major
purchase from a company that has recently ICO'ed a cannabis specific crypto
currency to be used specifically for the cannabis industry. SinglePoint will
roll this into its point of sale crypto currency offering. Enabling the consumer
to purchase which ever coin they would like to as well as giving the
dispensaries the option of which coin they would like to accept, which could be
both.
According to a new report by Grand View Research the Cannabis Market is
projected to reach $55.8 billion by 2025. This presents a major opportunity for
SinglePoint to generate additional revenue through platform fees and
transactional fees.
"We are very excited about this solution. in 2014 we started to explore the
world of Bitcoin and believed then Bitcoin would have an impact on the cannabis
industry. With the currencies new found consumer adoption we believe this is the
time to execute and we are doing that in a big way. We have employed an expert
and he has architected exactly what we need. Sign up, Swipe and Pay. At the end
of the transaction if there is left over Bitcoin the consumer walks away with
it. The bottom line is, it's easy and almost gives the customer the same
experience they are used to using every day." states, Wil Ralston, President of
SinglePoint.
SinglePoint has engaged TopTal a San Francisco based company providing freelance
engineers to build out the Bitcoin based solution. SinglePoint is targeting to
have a beta solution ready for testing and a major launch at the Las Vegas
Marijuana Business MJBIZCON November 14th - 17th. SinglePoint plans to partner
with multiple retail cannabis stores in the area and have conference attendees
sign up at the SinglePoint booth to receive a discount at a local retail store.
About SinglePoint, Inc. SinglePoint, Inc. (SING) has grown from a full-service
mobile technology provider to a publicly traded holding company. Through
diversification into horizontal markets, SinglePoint is building its portfolio
by acquiring an interest in undervalued subsidiaries, thereby providing a rich,
diversified holding base. Through its subsidiary company SingleSeed the company
is providing products and services to the cannabis industry.
Connect on social media at:
https://www.facebook.com/SinglePointMobile
https://twitter.com/_SinglePoint_
https://www.linkedin.com/company-beta/165982/
For more information visit:
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, 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.
Technical 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.
IR Contact:
Greg Lambrecht
855-711-2009
Source: SinglePoint, Inc.
Industry Leaders Riding High
as Marijuana Demand Outpaces Supply
New York, NY – July 19, 2017 –
NetworkNewsWire.com News
Coverage: The legal marijuana market has been growing by leaps and
bounds in North America. Sales jumped 30 percent in 2016, accounting for $6.7
billion in retail activity in the United States and Canada. For companies like
SinglePoint, Inc. (OTC: SING), which recently formed a joint venture
with First Bitcoin Capital Corp. (OTC: BITCF), strategic marijuana-centered
acquisitions are helping fuel corporate growth while increasing the availability
of equipment and packaging and payment solutions for the broader marijuana
market. The
cannabis
industry also benefits from the activities of American Cannabis Company, Inc.
(OTC: AMMJ), a producer of a proprietary growing medium, as well as from
industry players AeroGrow International, Inc. (OTC: AERO) and AbbView, Inc.
(NYSE: ABBV). A closer look at the massive demand for marijuana shows the
incredible market opportunity presented to publicly traded cannabis companies as
they carve their own niches in a burgeoning industry.
Just two weeks after the State of Nevada legalized the sale of recreational
marijuana on July 1, the nearly 50 dispensaries licensed to sell weed found
themselves running out of supply. With more than $1 billion of possible tax
revenue on the table2, Nevada state officials declared a state of emergency to
allow the creation of new rules that would expedite the licensing process to
support public demand.
A report1 by The Washington Post claims that over 40,000 transactions of
recreational cannabis occurred in the days following the start of sales. The
number of transactions reveals the depth of demand, along with the dire need for
adequate payment options as consumers bring their goods to the counter. Because
marijuana is still illegal on a federal level, most banks are on the sidelines
when it comes to offering banking services to the cannabis industry, giving
dispensaries few choices other than dealing in all-cash. This is where
SinglePoint (OTC: SING) steps in.
In June, SinglePoint secured funding (
http://nnw.fm/2MkXl ) to continue its acquisition strategy and further
the development of its bitcoin payments solution in partnership with First
Bitcoin Capital Corp. (OTC: BITCF) (http://nnw.fm/fY78J). The joint venture is
developing a proprietary bitcoin payment solution that can be implemented in any
point-of-sale machine and will allow customers to purchase cannabis products
using debit and credit cards without the
backing of banks or the FDIC. SinglePoint also recently purchased the domain
name www.SingleCoin.com as part of its planned potential initial coin offering (ICO),
which would specifically support transactions for the marijuana industry and
other high-risk industries.
Recognizing other opportunities in the high-demand marijuana market, SinglePoint
is fattening its acquisition portfolio to create new investment opportunities
and boost the availability of equipment, products, and technologies to support
the sector’s continued growth.
SinglePoint’s (http://nnw.fm/LSj7x) Discount Indoor Garden Supply (“DIGS”)
subsidiary recently inked a supply agreement (http://nnw.fm/slK6I) with Premier
Biomedical, Inc. providing SinglePoint with expectations for “significant
revenues increase.”
"This opportunity for both SinglePoint and DIGS Hydro is fantastic. We have been
working very hard on making acquisitions and inside sales to boost revenues. To
have this subsidiary execute on its business plan and generate major revenue for
SinglePoint is exactly what we want to see. We are very excited about the second
quarter financials and showing the significant revenue increase," SinglePoint
CEO Greg Lambrecht stated in the press release.
SinglePoint’s portfolio also includes an investment in Convectium Labs, a move
that will support the accessory-side of consumer demand. Convectium provides
equipment, branding and packaging solutions to the cannabis industry and is the
developer of the first cartridge and vape pen oil-filling machines offered
through wholesale distribution to cannabis dispensaries. Convectium’s 710Shark
and 710Seal machines, currently sold through the EquipCanna.com website, are
capable of filling and packaging more than 100 cartridges or disposable vape
pens in 30 seconds. Convectium also operates a consumer brand that includes
BlackoutX and HazeSticks products.
Before marijuana ever hits the display case in a dispensary, careful cultivation
determines its marketability. On July 13, American Cannabis Company (OTCQB: AMMJ)
reported that its proprietary SoHumŽ Living Soil was designated “Best Potting
Mix” with the 2017 High Times STASH award. Containing only natural ingredients,
this growing medium allows users to add water and be ready to fully nourish
cannabis plants. It can improve plant yield and quality while reducing the time
and labor needed to go from growth to market. The soil includes helpful microbes
and reduces the effort and work in keeping plants fed. Also, the company
recently announced two active clients have submitted applications to operate
medical cannabis operations in Ohio.
Also in the growing category is AeroGrow International (OTCQB: AERO), which
recently posted full-year revenues of $23.6 million, an increase of 20 percent
over the year prior, along with zero debt and more than $8.8 million of cash on
hand. The indoor gardening systems company said its fiscal year ended March 31,
2017, was the strongest year in its history, noting strength in its online and
retail presence and making mention of its hydroponic offerings. “And all of this
is against the backdrop of our product line becoming increasingly well
positioned in the market place – smart gardens, indoor gardening and hydroponic
gardening all appear to be trending significantly upward, and we are uniquely
qualified to address each of these major trends,” AERO president and CEO J.
Michael Wolfe stated in the press release.
While recreational use of marijuana is making most of the headlines these days,
the demand for the drug’s application to the medical industry shouldn’t be
overlooked. Though cannabis isn’t its primary focus or main revenue driver,
AbbView (NYSE: ABBV) is worth noting, as the pharmaceutical giant has performed
well in the market, with shares 30 percent higher on July 14 than they were in
November, according to a report by InvestorPlace3. Aside from other drugs in its
portfolio, AbbView since the mid-1980s has marketed an FDA-approved
cannabis-based drug, Marinol, for the treatment of nausea and vomiting related
to chemotherapy, and some that treat AIDS and other diseases. Marinol includes
Dronabinol, a compound that is chemically identical to tetrahydrocannabinol
(THC).
While the marijuana industry navigates uncharted territory, experimenting with
various measures to smooth out the kinks of supply and demand, licensing,
distribution, banking, cultivation and application, investors are presented a
playing field ripe with opportunity. From bitcoin payments and accessories to
hydroponics and medical treatments, the potential of cannabis companies is on
the high side.
For more information on SinglePoint please visit:
Singlepoint (SING) or
www.SinglePoint.com
Editorial Sources:
1. Washington Post http://nnw.fm/jaGN6
2. Las Vegas Sun http://nnw.fm/rSh3J
3. InvestorPlace http://nnw.fm/7IAkW
About NetworkNewsWire
NetworkNewsWire (NNW) is an information service that provides to users (1)
access to our news aggregation and syndication servers, (2) enhanced press
release services, and (3) a full array of social communication solutions. As a
multifaceted financial news and content distribution company with an extensive
team of contributing journalists and writers, NNW is uniquely positioned to best
serve private and public companies that desire to reach a wide audience of
investors, consumers, journalists and the general public. NNW has an
ever-growing distribution network of more than 5,000 key syndication outlets
across the country. By cutting through the overload of information in today's
market, NNW brings its clients unparalleled visibility, recognition and brand
awareness. NNW is where news, content and information converge.
NetworkNewsWire (NNW)
New York, New York
www.NetworkNewsWire.com
212.418.1217 Office
Editor@NetworkNewsWire.com
Please see full terms of use and disclaimers on the NetworkNewsWire website
applicable to all content provided by NNW, wherever published or re-published:
http://NNW.fm/Disclaimer
DISCLAIMER: NetworkNewsWire (NNW) is the source of the Article and content set
forth above. References to any issuer other than the profiled issuer are
intended solely to identify industry participants and do not constitute an
endorsement of any issuer and do not constitute a comparison to the profiled
issuer. FN Media Group (FNM) is a third-party publisher and news dissemination
service provider, which disseminates electronic information through multiple
online media channels. FNM is NOT affiliated with NNW or any company mentioned
herein. The commentary, views and opinions expressed in this release by NNW are
solely those of NNW and are not shared by and do not reflect in any manner the
views or opinions of FNM. Readers of this Article and content agree that they
cannot and will not seek to hold liable NNW and FNM for any investment decisions
by their readers or subscribers. NNW and FNM and their respective affiliated
companies are a news dissemination and financial marketing solutions provider
and are NOT registered broker-dealers/analysts/investment advisers, hold no
investment licenses and may NOT sell, offer to sell or offer to buy any
security.
The Article and content related to the profiled company represent the personal
and subjective views of the Author, and are subject to change at any time
without notice. The information provided in the Article and the content has been
obtained from sources which the Author believes to be reliable. However, the
Author has not independently verified or otherwise investigated all such
information. None of the Author, NNW, FNM, or any of their respective
affiliates, guarantee the accuracy or completeness of any such information. This
Article and content are not, and should not be regarded as investment advice or
as a recommendation regarding any particular security or course of action;
readers are strongly urged to speak with their own investment advisor and review
all of the profiled issuer's filings made with the Securities and Exchange
Commission before making any investment decisions and should understand the
risks associated with an investment in the profiled issuer's securities,
including, but not limited to, the complete loss of your investment.
NNW & FNM HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.
This release contains "forward-looking statements" within the meaning of Section
27A of the Securities Act of 1933, as amended, and Section 21E the Securities
Exchange Act of 1934, as amended and such forward-looking statements are made
pursuant to the safe harbor provisions of the Private Securities Litigation
Reform Act of 1995. "Forward-looking statements" describe future expectations,
plans, results, or strategies and are generally preceded by words such as "may",
"future", "plan" or "planned", "will" or "should", "expected," "anticipates",
"draft", "eventually" or "projected". You are cautioned that such statements are
subject to a multitude of risks and uncertainties that could cause future
circumstances, events, or results to differ materially from those projected in
the forward-looking statements, including the risks that actual results may
differ materially from those projected in the forward-looking statements as a
result of various factors, and other risks identified in a company's annual
report on Form 10-K or 10-KSB and other filings made by such company with the
Securities and Exchange Commission. You should consider these factors in
evaluating the forward-looking statements included herein, and not place undue
reliance on such statements. The forward-looking statements in this release are
made as of the date hereof and NNW and FNM undertake no obligation to update
such statements.
Media Contact e-mail: FN Media Group, LLC - editor@financialnewsmedia.com
(954)345-0611
News Source: NetworkNewsWire
______________________
Recent SinglePoint Coverage:
SinglePoint Provides Shareholder Update on Acquisitions and Company Initiatives
SEATTLE, WA / Jul 18, 2017 /
SinglePoint, Inc. (OTC PINK: SING) provides shareholder update covering
acquisition performance as well as progress on company initiatives.
Today the company has hired a cryptocurrency expert to spear head the companys
initiatives to develop a payments solution for high-risk customers and the
cannabis market. The company is aiming to bring a solution to test within 60
days. The companys joint venture with First Bitcoin Capital Corp will help drive
this timeline and bring the solution full circle from customer to dispensary.
SinglePoint and First Bitcoin Capital will work together to drive a consumer
first approach. By enabling the consumer to acquire the currency first it will
make for an easier transaction once at the point of sale. SinglePoint has also
hired Turner, Stone and Company to finalize the companys 2016 financial audit to
continue its progress toward up-listing to the OTC QB Markets.
To date, SinglePoint acquired an interest and invested in two different
companies. DIGS Hyrdo and Convectium. Both companies supply products to the
cannabis market. DIGS specializes in growing and cultivation consulting.
Convectium provides a best in class oil filling machine, the Shark 710. Last
year Convectium sold 45 machines and has already hit that number in 2017. Most
recently the company hired Mark Adams a Boston Native and Harvard Graduate. Mark
is an operations specialist with background in managing and developing complex
growth strategies. SinglePoint executives believe this alone will drastically
increase Convectiums already established momentum.
DIGS Hyrdo provides multiple products to growers and dispensaries. The company
has two stores open in Southern
California with plans for a third. DIGS is starting to develop a starter kit for
home grow interests as well as engineer DIGS Hydro branded products which will
lead to increased margins. The company has 4x revenue growth in just the first
two quarters of operation. This acquisition and growth is key to SinglePoints
acquisition strategy.
DIGS is a perfect example in what we want to happen in an acquisition. We
acquired the company injected the needed growth capital and seeing the results
come in through increased revenue. In the near future we will be kicking off an
online marketing strategy to sell products nationwide through Digshydro.com.
States, Greg Lambrecht CEO SinglePoint.
SinglePoint is currently looking at multiple different acquisition targets in
the cannabis space. Specifically, a highly-regarded technology driven delivery
company and another that is developing and providing solar solutions to
commercial cannabis grow spaces.
About SinglePoint, Inc.
SinglePoint, Inc. (SING) has grown from a full-service mobile technology
provider to a publicly traded holding company. Through diversification into
horizontal markets, SinglePoint is building its portfolio by acquiring an
interest in undervalued subsidiaries, thereby providing a rich, diversified
holding base. Through its subsidiary company SingleSeed the company is providing
products and services to the cannabis industry.
Connect on social media at: www.facebook.com/SinglePointMobile, http://www.twitter.com/_SinglePoint_,
www.linkedin.com/company/SinglePoint and www.youtube.com/user/SinglePointMobile
For more information visit www.SinglePoint.com or www.SingleSeed.com
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, 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.
Technical 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.
Contact:
SinglePoint, Inc.
Greg Lambrecht
602.481.1544
Source: SinglePoint, Inc.
What it Takes to Stand Out from the Crowd in the Legalized Marijuana Space
New York, NY – July 12, 2017 –
NetworkNewsWire.com News
Coverage: The burgeoning legalized marijuana market is increasingly
populated with unique contenders, and success in this market requires a high
caliber of innovation that drives compounding potential for revenue growth,
success and sustainability.
SinglePoint, Inc. (OTC: SING), for example, employs a diversified
acquisition strategy in tandem with a plan to develop a crypto currency solution
for the cannabis
industry
with First Bitcoin Capital Corp. (OTC: BITCF). Among other publicly traded
standouts in this opportunity-rich market the marijuana space is General
Cannabis Corp. (OTC: CANN), GW Pharmaceuticals plc (NASDAQ: GWPH) and Golden
Leaf Holdings Ltd. (OTC: GLDFF).
SinglePoint, Inc. (OTC: SING), offers a compelling and diversified
investment opportunity within the marijuana space, and is beginning to
demonstrate its ability to generate revenues through strategic acquisitions.
While some investors are leery of the risks of the federally illegal marijuana
market, it’s important to note that SinglePoint at no time touches the marijuana
plant. For example, building on its history of payment technologies, SinglePoint
– among other endeavors - services the marijuana industry via its SingleSeed
subsidiary ( www.SingleSeed.com ), which
is engaged in supplying various services to cannabis to dispensaries and has
become a hub for dispensaries seeking merchant payment processing solutions and
other business tools. SingleSeed also offers payment processing and text message
marketing solutions for cannabis businesses.
Also in the payment technology field, SinglePoint recently partnered with First
Bitcoin Capital (OTC: BITCF) to develop a proprietary bitcoin payment solution
for cannabis business that, at present, do not have access to banking options
due to FDIC restrictions and resultant lack of cooperation from banks. This
innovative bitcoin solution will be deployable on any point-of-sale machine
through a simple download and will enable cannabis businesses to accept credit
and debit card transactions independent of banks.
As the first cryptocurrency and blockchain-centered company to become publicly
traded, First Bitcoin is a valuable partner to SinglePoint in the quest to
develop digital currencies. The company offers a suite of financial solutions
for medical cannabis businesses, including merchant processing and point-of-sale
solutions like automated check-cashing kiosks for California-based medical
marijuana dispensaries. First Bitcoin Capital recently announced that it has
invested its primary wallet, which owns dozens of cryptocurrencies, into
closed-end crypto-exchange traded fund (CETF) AlphaBIT in exchange for
controlling interest in the form of 200 million ABCs. This is the company’s very
first foray into the Ethereum ecosystem, as ABC runs on the Ethereum blockchain.
This acquisition is significant for various reasons, including giving
shareholders a vehicle for transparently monitoring some of First Bitcoin
Capital’s assets.
In June SinglePoint closed a $1 million company-friendly Convertible Promissory
Note with an institutional investor, stating that proceeds from the investment
will be used to execute on its bitcoin solution. With this new round of funding,
the company is can move forward with its development of a crypto currency
solution and continue its strategic acquisitions within the marijuana space.
One recent acquisition has positioned SinglePoint to become a leader in online
products, retail stores, cannabis consulting and equipment in the state of
California, where thousands of cannabis-related businesses have cropped up.
SinglePoint recently acquired 90 percent ownership of Discount Indoor Garden
Supply (DIGS), a provider of soil and supplies—including hydroponics products—as
well as consulting services to legal cannabis growers. The importance of this
acquisition is emphasized by an unsuspecting yet recognizable name: Scotts
Miracle-Gro (SMG). While you might not think “marijuana” when you hear the name
of this household brand, Scotts Miracle-Gro has emerged as one of the biggest
traditional business players to participate in the cannabis industry. Through
its wholly owned The Hawthorne Gardening Company subsidiary, the company is
acquiring various leading firms in hydroponics areas, including soil, lighting
and nutrients, and market reports suggest that the company has more acquisitions
on deck for this year.
SinglePoint also recently inked an agreement with Premier Biomedical, Inc. (BIEI)
to act as a volume supplier in manufacturing Premier’s new CBD (cannabidiol)
Hemp Oil Skin Patch. The patch is anticipated to be the first in a line of
products resulting from the agreement between the two companies. SinglePoint
believes this new business will contribute greatly to its revenue goals.
Earlier this year, SinglePoint made an investment in Convectium, a
California-based provider of equipment, branding and packaging solutions to the
cannabis industry. Convectium developed the very first cartridge and vape pen
oil-filling machines for wholesale distribution to marijuana dispensaries, and
its 710Shark and 710Seal machines—which are currently sold through the
EquipCanna.com website—can fill and package more than 100 cartridges or
disposable vape pens in just 30 seconds. Convectium also operates a consumer
brand that includes BlackoutX and HazeSticks products.
General Cannabis (OTCQB: CANN) is another diversified player in the cannabis
space, serving as a comprehensive resource for high-quality services to the
regulated marijuana industry. Through a combination of robust operating
divisions, including security, marketing, operational consulting and products,
real estate and financing, General Cannabis has become a key partner to the
cultivation, production and retail areas of the marijuana market. The company’s
synergistic divisions are able to leverage one another’s strengths to contribute
to General Cannabis’ overall success.
Biopharmaceutical company GW Pharmaceuticals (NASDAQ: GWPH) has become a global
leader in developing plant-derived cannabinoid therapeutics using its
established drug discovery and development process along with an intellectual
property portfolio and regulatory and manufacturing savvy. The company has
successfully developed the world’s very first cannabis-derived prescription
medicine, Sativex, which now has approval in more than 29 countries outside the
United States to treat spasticity related to multiple sclerosis. GW’s current
lead product candidate is Epidiolex (cannabidiol) for treating certain rare and
severe early-onset, drug-resistant epilepsy syndromes. The company’s pipeline of
CBD product candidates further includes compounds that are in Phase 1 and 2
trials for treating glioma, schizophrenia and epilepsy.
Another company focused on leveraging a differentiated brand portfolio within
the legalized marijuana space is Golden Leaf Holdings (OTCQB: GLDFF). Golden
Leaf Holdings is one of North America’s largest providers of cannabis oils and
solutions and is a leading marijuana company in Oregon. The company’s product
portfolio is constructed around recognized brands, and Golden Leaf Holdings is
leveraging a robust management team of experts in the cannabis and food
industries to bolster its expertise in cannabis oil extraction, refining and
sales. Golden Leaf Holdings’ aim is to become a leading, consumer-driven company
that is focused on wellness solutions that are founded on science and research,
thereby leveraging the company’s differentiated brand portfolio to provide
outstanding customer value.
These companies are making names for themselves through their successfully
unique approaches within the rapidly growing legal marijuana market. With so
many competitors now crowding the marijuana space, diversified players like the
named companies stand out as ones to watch—and invest in—within the cannabis
market.
For more information on SinglePoint please visit:
SinglePoint, Inc. (OTC: SING), or
www.SinglePoint.com
About NetworkNewsWire
NetworkNewsWire (NNW) is an information service that provides to users (1)
access to our news aggregation and syndication servers, (2) enhanced press
release services, and (3) a full array of social communication solutions. As a
multifaceted financial news and content distribution company with an extensive
team of contributing journalists and writers, NNW is uniquely positioned to best
serve private and public companies that desire to reach a wide audience of
investors, consumers, journalists and the general public. NNW has an
ever-growing distribution network of more than 5,000 key syndication outlets
across the country. By cutting through the overload of information in today's
market, NNW brings its clients unparalleled visibility, recognition and brand
awareness. NNW is where news, content and information converge.
NetworkNewsWire (NNW)
New York, NY
www.NetworkNewsWire.com
212.418.1217 Office
Editor@NetworkNewsWire.com
Please see full terms of use and disclaimers on the NetworkNewsWire website
applicable to all content provided by NNW, wherever published or re-published:
http://NNW.fm/Disclaimer
DISCLAIMER: NetworkNewsWire (NNW) is the source of the Article and content set
forth above. References to any issuer other than the profiled issuer are
intended solely to identify industry participants and do not constitute an
endorsement of any issuer and do not constitute a comparison to the profiled
issuer. FN Media Group (FNM) is a third-party publisher and news dissemination
service provider, which disseminates electronic information through multiple
online media channels. FNM is NOT affiliated with NNW or any company mentioned
herein. The commentary, views and opinions expressed in this release by NNW are
solely those of NNW and are not shared by and do not reflect in any manner the
views or opinions of FNM. Readers of this Article and content agree that they
cannot and will not seek to hold liable NNW and FNM for any investment decisions
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The Article and content related to the profiled company represent the personal
and subjective views of the Author, and are subject to change at any time
without notice. The information provided in the Article and the content has been
obtained from sources which the Author believes to be reliable. However, the
Author has not independently verified or otherwise investigated all such
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Article and content are not, and should not be regarded as investment advice or
as a recommendation regarding any particular security or course of action;
readers are strongly urged to speak with their own investment advisor and review
all of the profiled issuer's filings made with the Securities and Exchange
Commission before making any investment decisions and should understand the
risks associated with an investment in the profiled issuer's securities,
including, but not limited to, the complete loss of your investment.
NNW & FNM HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.
This release contains "forward-looking statements" within the meaning of Section
27A of the Securities Act of 1933, as amended, and Section 21E the Securities
Exchange Act of 1934, as amended and such forward-looking statements are made
pursuant to the safe harbor provisions of the Private Securities Litigation
Reform Act of 1995. "Forward-looking statements" describe future expectations,
plans, results, or strategies and are generally preceded by words such as "may",
"future", "plan" or "planned", "will" or "should", "expected," "anticipates",
"draft", "eventually" or "projected". You are cautioned that such statements are
subject to a multitude of risks and uncertainties that could cause future
circumstances, events, or results to differ materially from those projected in
the forward-looking statements, including the risks that actual results may
differ materially from those projected in the forward-looking statements as a
result of various factors, and other risks identified in a company's annual
report on Form 10-K or 10-KSB and other filings made by such company with the
Securities and Exchange Commission. You should consider these factors in
evaluating the forward-looking statements included herein, and not place undue
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Media Contact e-mail: FN Media Group, LLC - editor@financialnewsmedia.com
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News Source: NetworkNewsWire
Bitcoin and Hydroponics Present Prime Investment Opportunities in the Legal
Cannabis Space
New York, NY – June 28, 2017 –
NetworkNewsWire.com News
Coverage: In increasing volume, investment opportunities in the
legalized marijuana industry are being added to the portfolio of many
enterprising investors. Amid the numerous
categories
of investment options offered within this burgeoning industry, two sectors stand
out: bitcoin, a digital currency that can facilitate the transfer of funds free
of banks and government regulation, and hydroponics, an industry standard method
of growing plants without soil. Companies like
SinglePoint, Inc. (OTC: SING), Bitcoin Investment Trust (OTC: GBTC),
First Bitcoin Capital Corp. (OTC: BITCF), Scott’s Miracle-Gro Co. (NYSE: SMG)
and Terra Tech Corp. (OTC: TRTC) are currently forging paths in these
increasingly popular areas, demonstrating the diverse nature of the marijuana
industry.
Among other cannabis-centered ventures,
SinglePoint, Inc. (OTC: SING) is developing a bitcoin payments solution
for cannabis businesses and, through its recently acquired Discount Indoor
Garden Supply (DIGS Hydro) subsidiary, also provides hydroponics products and
other supplies and services.
An ongoing roadblock for legal marijuana enterprises has been a lack of banking
options, which forces these businesses to conduct cash transactions. SinglePoint
has identified bitcoin digital currency as an ideal solution to the numerous
challenges of the “unbankable” marijuana industry (http://nnw.fm/8fk1B) and is
creating a proprietary bitcoin payment solution that can be implemented in any
point-of-sale machine through a simple download, enabling cannabis dispensaries
and other marijuana businesses to conduct debit and credit card transactions
independent of banks and the FDIC.
SinglePoint, Inc. (OTC: SING) also participates in another high-interest
area of the marijuana industry through its acquisition and 90 percent ownership
of DIGS Hydro. Through DIGS Hydro, SinglePoint is now able to offer soil and
supplies, including hydroponics products, to legal cannabis growers. It also
offers consulting services relating to indoor growing and hydroponics. This
acquisition has positioned SinglePoint to become a leader in online products,
retail stores, cannabis consulting and equipment in California, which is home to
thousands of marijuana-related businesses.
As announced earlier this week (http://nnw.fm/X4PoS), DIGS Hydro has received a
“major” purchase order from Premier Biomedical and has therefore generated an
additional revenue stream for SinglePoint.
“This opportunity for both SinglePoint and DIGS Hydro is fantastic. We have been
working very hard on making acquisitions and inside sales to boost revenues. To
have this subsidiary execute on its business plan and generate major revenue for
SinglePoint is exactly what we want to see. We are very excited about the second
quarter financials and showing the significant revenue increase,” SinglePoint
CEO Greg Lambrecht stated in the news release.
SinglePoint also describes its strategy to increase revenues through the
remainder of the year, leveraging the strength of its acquisition-based growth
strategy.
Such acquisitions are part of SinglePoint’s diversified approach to operating
within the marijuana industry without ever touching the plant. Earlier this
year, the company began funding Convectium, which is a provider of equipment,
branding and packaging solutions to the marijuana industry and is the developer
of the very first cartridge and vape pen oil-filling machines for wholesale
distribution to cannabis dispensaries. Convectium’s 710Shark and 710Seal
machines, currently sold through the EquipCanna.com website, are capable of
filling and packaging over 100 cartridges or disposable vape pens in only 30
seconds. Additionally, Convectium operates a consumer brand that includes
BlackoutX and HazeSticks products.
SinglePoint also operates www.SingleSeed.com, which is focused on the online
sale of cannabis products to dispensaries and has become a hub for dispensaries
seeking merchant payment processing solutions and other business tools.
SinglePoint offers mobile marketing services as well as payment solutions for
marijuana businesses through SingleSeed payments, including cashless ATM,
Pay-by-Text™ and text message marketing.
Regarding its most recent endeavor, SinglePoint recognizes growing demand and
application of digital currency on a global scale. The growth and potential of
this segment is evidenced in the activities of companies like Bitcoin Investment
Trust (GBTC), which is the
first publicly quoted bitcoin investment vehicle.
Bitcoin Investment Trust is a U.S.-based, open-ended grantor trust sponsored by
Grayscale Investments that is invested exclusively in bitcoin, and its shares
are the first publicly quoted securities solely invested in and deriving value
from the price of bitcoin. Bitcoin Investment Trust has enabled investors to
gain exposure to bitcoin’s price movement through a traditional investment
vehicle without the challenges of buying, storing and safekeeping bitcoins.
Bitcoin Investment Trust was recently named to OTC Markets Group’s “OTCQX Best
50” for 2017. Bitcoin digital currency has already been named an official method
of payment in Japan, and it is being accepted by more and more major retailers
in the United States. The achievements of Bitcoin Investment Trust are
furthering the acceptance of bitcoin’s presence as a valid payment method in the
U.S.
Another key bitcoin player, First Bitcoin Capital (BITCF),
has partnered with SinglePoint to leverage the growing demand for digital
currency in the cannabis space. To advance this payment solution, SinglePoint
recently raised $1 million in funding (http://nnw.fm/G8dn5), allocated in part
to the development of a bitcoin payment solution for the marijuana industry.
First Bitcoin Capital is the first publicly traded cryptocurrency and blockchain-centered
company focused on developing digital currencies, proprietary blockchain
technologies and the digital currency exchange www.CoinQX.com. The company’s
suite of financial solutions for medical marijuana businesses includes merchant
processing and point-of-sale solutions, such as automated check-cashing kiosks
offered to medical marijuana dispensaries in California.
To understand the importance of hydroponics to the marijuana industry, look no
further than leading lawn and garden care products manufacturer Scotts Miracle-Gro
(SMG), which has been heavily investing in hydroponics via supplies to legal
cannabis growers. Scotts has emerged as one of the biggest traditional business
players to step foot in the cannabis industry, and, through its wholly-owned The
Hawthorne Gardening Company subsidiary, has been busily acquiring various
leading firms in hydroponics areas, including soil, lighting and nutrients.
Other acquisitions are also reportedly in the hopper for Scotts and are expected
to be completed by the end of 2017.
Vertically-integrated cannabis-focused agriculture company Terra Tech (TRTC)
is employing hydroponics cultivation techniques as a direct provider of medical
cannabis. The company operates several subsidiaries in medical marijuana and is
focused on cultivating and providing the highest quality medical cannabis and
revolutionizing cannabis cultivation through cutting-edge practices in a
controlled, modern greenhouse environment. Terra Tech has an industry-exclusive
moving table hydroponic growing system that boasts an increase of up to 30
percent in annual harvest yield. The company is positioned to operate medical
cannabis cultivation facilities throughout the U.S., and Terra Tech’s growth
strategy includes expanding its hydroponic cannabis cultivation efforts across
the country. Terra Tech’s current growth plan specifically includes acquiring
cannabis dispensaries in California, completing cannabis facilities in Nevada,
and cultivating cannabis in its existing company-owned greenhouse in New Jersey
once cannabis cultivation has been legalized in that state.
Whether an investor is looking for marijuana play through a hands-on-the-plant
company or one offering ancillary services, more and more opportunities are
cropping up all the time. Bitcoin and hydroponics are two of the hottest
investment areas within the marijuana market right now, and the named companies
offer prime opportunities for investing in both.
For more information on SinglePoint please visit:
SinglePoint, Inc. (OTC: SING) or
www.SinglePoint.com
About NetworkNewsWire
NetworkNewsWire (NNW) is an information service that provides to users (1)
access to our news aggregation and syndication servers, (2) enhanced press
release services, and (3) a full array of social communication solutions. As a
multifaceted financial news and content distribution company with an extensive
team of contributing journalists and writers, NNW is uniquely positioned to best
serve private and public companies that desire to reach a wide audience of
investors, consumers, journalists and the general public. NNW has an
ever-growing distribution network of more than 5,000 key syndication outlets
across the country. By cutting through the overload of information in today's
market, NNW brings its clients unparalleled visibility, recognition and brand
awareness. NNW is where news, content and information converge.
NetworkNewsWire (NNW)
New York, New York
www.NetworkNewsWire.com
212.418.1217 Office
Editor@NetworkNewsWire.com
Please see full terms of use and disclaimers on the NetworkNewsWire website
applicable to all content provided by NNW, wherever published or re-published:
http://NNW.fm/Disclaimer
DISCLAIMER: NetworkNewsWire (NNW) is the source of the Article and content set
forth above. References to any issuer other than the profiled issuer are
intended solely to identify industry participants and do not constitute an
endorsement of any issuer and do not constitute a comparison to the profiled
issuer. FN Media Group (FNM) is a third-party publisher and news dissemination
service provider, which disseminates electronic information through multiple
online media channels. FNM is NOT affiliated with NNW or any company mentioned
herein. The commentary, views and opinions expressed in this release by NNW are
solely those of NNW and are not shared by and do not reflect in any manner the
views or opinions of FNM. Readers of this Article and content agree that they
cannot and will not seek to hold liable NNW and FNM for any investment decisions
by their readers or subscribers. NNW and FNM and their respective affiliated
companies are a news dissemination and financial marketing solutions provider
and are NOT registered broker-dealers/analysts/investment advisers, hold no
investment licenses and may NOT sell, offer to sell or offer to buy any
security.
The Article and content related to the profiled company represent the personal
and subjective views of the Author, and are subject to change at any time
without notice. The information provided in the Article and the content has been
obtained from sources which the Author believes to be reliable. However, the
Author has not independently verified or otherwise investigated all such
information. None of the Author, NNW, FNM, or any of their respective
affiliates, guarantee the accuracy or completeness of any such information. This
Article and content are not, and should not be regarded as investment advice or
as a recommendation regarding any particular security or course of action;
readers are strongly urged to speak with their own investment advisor and review
all of the profiled issuer's filings made with the Securities and Exchange
Commission before making any investment decisions and should understand the
risks associated with an investment in the profiled issuer's securities,
including, but not limited to, the complete loss of your investment.
NNW & FNM HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.
This release contains "forward-looking statements" within the meaning of Section
27A of the Securities Act of 1933, as amended, and Section 21E the Securities
Exchange Act of 1934, as amended and such forward-looking statements are made
pursuant to the safe harbor provisions of the Private Securities Litigation
Reform Act of 1995. "Forward-looking statements" describe future expectations,
plans, results, or strategies and are generally preceded by words such as "may",
"future", "plan" or "planned", "will" or "should", "expected," "anticipates",
"draft", "eventually" or "projected". You are cautioned that such statements are
subject to a multitude of risks and uncertainties that could cause future
circumstances, events, or results to differ materially from those projected in
the forward-looking statements, including the risks that actual results may
differ materially from those projected in the forward-looking statements as a
result of various factors, and other risks identified in a company's annual
report on Form 10-K or 10-KSB and other filings made by such company with the
Securities and Exchange Commission. You should consider these factors in
evaluating the forward-looking statements included herein, and not place undue
reliance on such statements. The forward-looking statements in this release are
made as of the date hereof and NNW and FNM undertake no obligation to update
such statements.
Media Contact e-mail: FN Media Group, LLC - editor@financialnewsmedia.com
(954)345-0611
News Source: NetworkNewsWire
SinglePoint Expects
Significant Revenues Increase as Cannabis Subsidiary Receives Initial Payment
for New Major Purchase Order
SEATTLE, WA / 06/27/17 /
SinglePoint, Inc. (OTC PINK: SING) announces that its recently acquired
DIGS Hydro subsidiary has received a major purchase order from Premier
Biomedical (OTCQB: BIEI). DIGS Hydro has received the initial payment with final
payment due on delivery. Based on recent discussions between the parties,
Premier Biomedical plans to continue to order its supplies from DIGS Hydro, a
provider of a variety of supplies and services specifically to the cannabis
industry.
"This opportunity for both SinglePoint and DIGS Hydro is fantastic. We have been
working very hard on making acquisitions and inside sales to boost revenues. To
have this subsidiary execute on its business plan and generate major revenue for
SinglePoint is exactly what we want to see. We are very excited about the second
quarter financials and showing the
significant revenue increase," SinglePoint CEO Greg Lambrecht states.
Premier Biomedical offers a rounded suite of products, and with DIGS Hydro has
found a reliable supplier of additional products. The synergies between Premier
Biomedical, DIGS Hydro and SinglePoint enable each company to quickly and
efficiently grow their operations.
William Hartman CEO and co-founder for Premier Biomedical states, "We are
excited we found a supplier for the products we need. This significantly
increases the company's initiatives and enables us to grow the revenue of the
offerings we have. We look forward to working with DIGS Hydro and SinglePoint to
continue building our relationship together."
DIGS Hydro, of which SinglePoint owns a 90% stake (http://nnw.fm/oh7ZW), has two
brick-and-mortar retail stores and has plans to open a third. As evidenced by
today's news, SinglePoint's acquisition-based revenue growth strategy is gaining
traction. As a result, SinglePoint expects to report a significant increase in
revenues in its second-quarter financial statements. The acquisition of DIGS
Hyrdo has also enabled SinglePoint to make numerous contacts in the cannabis
industry, most of which are potential acquisition targets or customers for one
of the many offerings SinglePoint has developed.
SinglePoint is diligently working to develop viable solutions, and reports that
potential clients are now starting to engage with the company. SinglePoint has
acquired multiple companies in the cannabis space, and is pursuing additional
acquisition opportunities in the wake of increased market attention and
recognition. As part of its push to increase revenues in 2017 through
acquisition and inside sales of the company services, management is negotiating
multiple contracts and is onboarding new clients.
Further supporting these endeavors is SinglePoint's recent capital raise
(http://nnw.fm/G8dn5) to fund additional projects such as Bitcoin Payments,
currently in development (http://nnw.fm/7XlMo). This project has been green
lighted and architecture for development has been completed. SinglePoint has
engaged a recruiting firm to help find a block chain expert and is in
negotiations with potential candidates. Additional announcements on timeline and
delivery will be made soon.
About Premier Biomedical, Inc. Premier Biomedical, Inc. (OTCQB: BIEI) is a
research-based publicly traded company that intends to discover and develop
medical treatments for a wide range of diseases in humans. Premier has obtained,
via exclusive license agreements, the technology behind three granted U.S.
patents, multiple pending provisional patents, and a PCT Europe National Patent.
Founded in 2010, Premier has partnered with the University of Texas at El Paso (UTEP).
The company's R&D efforts are centered in El Paso, Texas; its business offices
are in Western Pennsylvania.
For more information, visit: http://www.premierbiomedical.com
About SinglePoint, Inc. SinglePoint, Inc. (OTC: SING) has grown from a
full-service mobile technology provider to a publicly traded holding company.
Through diversification into horizontal markets, SinglePoint is building its
portfolio by acquiring an interest in undervalued subsidiaries, thereby
providing a rich, diversified holding base. Through its subsidiary company
SingleSeed the company is providing products and services to the cannabis
industry.
Connect on social media at:
http://wwww.facebook.com/SinglePointMobile
http://www.twitter.com/_SinglePoint_
http://wwww.linkedin.com/company/SinglePoint
http://wwww.youtube.com/user/SinglePointMobile
For more information visit http://wwww.SinglePoint.com or http://wwww.SingleSeed.com
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, 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.
Technical 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.
Contact: SinglePoint, Inc.
Greg Lambrecht
602.481.1544
Source: SinglePoint, Inc.
Diverse Opportunities Aplenty for Investors Interested in the Marijuana Market
New York, NY – June 22, 2017 –
NetworkNewsWire.com News
Coverage: Within the exploding legalized marijuana industry, new
innovations and investment opportunities are cropping up all the time; no matter
what sector you have interest in, there is likely an investment option to be
explored. Among enterprising companies looking for innovative ways to profit
within the blossoming marijuana market,
SinglePoint, Inc. (OTC: SING), First Bitcoin Capital Corp. (OTC: BITCF),
Kush Bottles, Inc. (OTC: KSHB), Medical Marijuana, Inc. (OTC: MJNA) and Solis
Tek, Inc. (OTC: SLTK) offer diverse
opportunities
for savvy investors interested in a marijuana-related play.
The growth of the legal marijuana market has been bigger and faster than the
growth of the dot-com industry in its heyday, experts say. In North America,
cannabis sales grew by 30 percent in 2016, reaching $6.7 billion; marijuana
sales in North America, including Canada, have been projected to surpass $20.2
billion by the year 2021, assuming a CAGR of 25 percent1. The rapid growth
within this developing market is constantly creating new opportunities as laws
change, new cannabis enterprises open up, and service needs emerge for those
businesses. There are plenty of prime investment opportunities—both in companies
that handle the marijuana plant and in companies that don’t.
One increasingly recognizable marijuana play is
SinglePoint, Inc. (OTC: SING) which plays a role in a variety of
sectors, including payments, technology, hydroponics and gardening, and more.
Among its present endeavors, SinglePoint recently announced (http://nnw.fm/7XlMo)
an initiative to develop a bitcoin payment solution for cannabis businesses,
which due to federal restrictions and bank reluctance, are currently
“unbankable” and must deal in cash only. SinglePoint has partnered with
First Bitcoin Capital Corp.
(BITCF) to create a proprietary bitcoin payment solution that can be easily
implemented in any point-of-sale machine via a simple download, enabling
marijuana users to purchase cannabis products using credit and debit cards
independent of banks and the FDIC.
SinglePoint has also made various acquisitions as part of its efforts to take a
diversified approach (http://nnw.fm/zD4qP) to the marijuana industry without
touching the plant. The company’s portfolio includes a majority stake in
Discount Indoor Garden Supply, an acquisition completed in May, which
immediately positioned SinglePoint to become a leader in online products, retail
stores, cannabis consulting and equipment in California.
Additionally, SinglePoint earlier this year invested in Convectium, a company
that provides equipment, branding and packaging solutions to the cannabis
industry and developed the first cartridge and vape pen oil-filling machines for
wholesale distribution to marijuana dispensaries. The 710Shark and 710Seal
machines can fill and package over 100 cartridges or disposable vape pens in
just 30 seconds and are currently sold through the EquipCanna.com website.
Convectium additionally operates a consumer brand that includes BlackoutX and
HazeSticks products.
SinglePoint further operates the
www.SingleSeed.com subsidiary, which is focused on the online sale of
cannabis products to dispensaries and has become a leading resource for
dispensaries that are seeking merchant payment processing solutions and other
business tools. Through SingleSeed payments, SinglePoint offers payment
solutions for cannabis businesses that include mobile marketing and payment
solutions like cashless ATM, Pay-by-Text™ and text message marketing.
SinglePoint partner First Bitcoin Capital (OTC: BITCF) is also focused on
payment solutions. As the first publicly traded cryptocurrency and
block-chain-centered company, it is focused on developing digital currencies,
proprietary block-chain technologies, and the digital currency exchange
www.CoinQX.com. Among its payment solutions, First Bitcoin Capital offers
automated check-cashing kiosks to medical marijuana dispensaries in California,
charging competitive check-cashing fees. This check-cashing ATM service rounds
out the company’s suite of financial offerings to the medical marijuana
industry, which include merchant processing and point-of-sale solutions.
Initially focused on packaging solutions at its inception in 2010,
California-based Kush Bottles (OTCQB: KSHB) has since expanded its product line.
Kush Bottles’ products now range from custom packaging and labeling items to
point-of-sale products like grinders, lighters, papers and glass pieces. The
company also recently obtained a U.S. patent for a unique customizable mechanism
for its top-selling child-resistant packaging, enabling 3D branded icons to now
be attached to the container lids. Kush Bottles caters to thousands of cannabis
dispensaries, retail shops, growers and consumers and is a leading packaging
supply and services company exclusively serving the needs of the marijuana
industry.
In the healthcare sector, Medical Marijuana (OTC: MJNA) stands out as the first
company to make hemp cannabidiol (CBD) products available in the United States
and around the world, taking the bold step of finding a legal means of providing
these products in the U.S. without waiting for federal law changes. The company
has done this by providing high-quality cannabis-derived products that feature
non-psychoactive cannabinoids such as cannabidiol (CBD), which boasts various
potential health applications without reliance on tetrahydrocannabinol (THC).
MJNA has gone outside of the U.S. to grow low-THC cannabis varieties (hemp) and
has crafted CBD hemp oil from carefully cultivated hemp plants, successfully
imported it into the U.S. CBD hemp oil is non-psychoactive, 100 percent legal in
the U.S., and contains a full array of phytocannabinoids. The company’s
products, distributed through HempMeds and Kannaway, include pure CBD hemp oil,
Kannaway Essential Oils, tinctures, sprays, capsules, vaporizers, bath and body
products, and chewing gum. In addition to selling legal CBD hemp oil products in
the U.S., MJNA has also been able to offer the very first legal marijuana
products in Mexico and Brazil and has additionally expanded its Kannaway brand
into the European marketplace.
Marijuana also finds its place in technology. Vertically integrated technology
innovator Solis Tek (OTCQB: SLTK) is also taking a fresh approach within the
cannabis industry, offering products and solutions to commercial cannabis
growers within legal markets throughout the country. Solis Tek has become a
leading provider of digital lighting equipment for hydroponic cannabis
cultivation, offering digital lighting solutions that help increase yield, cut
costs and improve crop growth. Solis Tek also recently announced the launch of
its Nutrient Line, which employs natural ingredients to help growers increase
yield, lower costs and grow healthier plants. The first product in this line,
Terpenez, is an organically derived, commercial-grade essential oil intensifier
designed to naturally increase the terpene profile of the cannabis plant and
thereby enhance the plant’s inherent characteristics.
There are many ripe investment opportunities within the legalized marijuana
industry, which increasingly gains ground in some of the most favored sectors.
This fast-growing market has nowhere to go but up, and savvy investors would be
wise to take a look at the playing field and discover the diverse opportunities
of the cannabis boom.
Editorial Sources:
(1)
https://www.forbes.com/sites/debraborchardt/2017/01/03/marijuana-sales-totaled-6-7-billion-in-2016/#50de58a975e3
For more information on SinglePoint visit:
SinglePoint, Inc. (OTC: SING) or
www.SinglePoint.com
About NetworkNewsWire
NetworkNewsWire (NNW) is an information service that provides to users (1)
access to our news aggregation and syndication servers, (2) enhanced press
release services, and (3) a full array of social communication solutions. As a
multifaceted financial news and content distribution company with an extensive
team of contributing journalists and writers, NNW is uniquely positioned to best
serve private and public companies that desire to reach a wide audience of
investors, consumers, journalists and the general public. NNW has an
ever-growing distribution network of more than 5,000 key syndication outlets
across the country. By cutting through the overload of information in today's
market, NNW brings its clients unparalleled visibility, recognition and brand
awareness. NNW is where news, content and information converge.
NetworkNewsWire (NNW)
New York, NY
www.NetworkNewsWire.com
212.418.1217 Office
Editor@NetworkNewsWire.com
Please see full terms of use and disclaimers on the NetworkNewsWire website
applicable to all content provided by NNW, wherever published or re-published:
http://NNW.fm/Disclaimer
DISCLAIMER: NetworkNewsWire (NNW) is the source of the Article and content set
forth above. References to any issuer other than the profiled issuer are
intended solely to identify industry participants and do not constitute an
endorsement of any issuer and do not constitute a comparison to the profiled
issuer. FN Media Group (FNM) is a third-party publisher and news dissemination
service provider, which disseminates electronic information through multiple
online media channels. FNM is NOT affiliated with NNW or any company mentioned
herein. The commentary, views and opinions expressed in this release by NNW are
solely those of NNW and are not shared by and do not reflect in any manner the
views or opinions of FNM. Readers of this Article and content agree that they
cannot and will not seek to hold liable NNW and FNM for any investment decisions
by their readers or subscribers. NNW and FNM and their respective affiliated
companies are a news dissemination and financial marketing solutions provider
and are NOT registered broker-dealers/analysts/investment advisers, hold no
investment licenses and may NOT sell, offer to sell or offer to buy any
security.
The Article and content related to the profiled company represent the personal
and subjective views of the Author, and are subject to change at any time
without notice. The information provided in the Article and the content has been
obtained from sources which the Author believes to be reliable. However, the
Author has not independently verified or otherwise investigated all such
information. None of the Author, NNW, FNM, or any of their respective
affiliates, guarantee the accuracy or completeness of any such information. This
Article and content are not, and should not be regarded as investment advice or
as a recommendation regarding any particular security or course of action;
readers are strongly urged to speak with their own investment advisor and review
all of the profiled issuer's filings made with the Securities and Exchange
Commission before making any investment decisions and should understand the
risks associated with an investment in the profiled issuer's securities,
including, but not limited to, the complete loss of your investment.
NNW & FNM HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.
This release contains "forward-looking statements" within the meaning of Section
27A of the Securities Act of 1933, as amended, and Section 21E the Securities
Exchange Act of 1934, as amended and such forward-looking statements are made
pursuant to the safe harbor provisions of the Private Securities Litigation
Reform Act of 1995. "Forward-looking statements" describe future expectations,
plans, results, or strategies and are generally preceded by words such as "may",
"future", "plan" or "planned", "will" or "should", "expected," "anticipates",
"draft", "eventually" or "projected". You are cautioned that such statements are
subject to a multitude of risks and uncertainties that could cause future
circumstances, events, or results to differ materially from those projected in
the forward-looking statements, including the risks that actual results may
differ materially from those projected in the forward-looking statements as a
result of various factors, and other risks identified in a company's annual
report on Form 10-K or 10-KSB and other filings made by such company with the
Securities and Exchange Commission. You should consider these factors in
evaluating the forward-looking statements included herein, and not place undue
reliance on such statements. The forward-looking statements in this release are
made as of the date hereof and NNW and FNM undertake no obligation to update
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Media Contact e-mail: FN Media Group, LLC - editor@financialnewsmedia.com
(954)345-0611
News Source: NetworkNewsWire
SinglePoint Completes $1
Million Funding to Continue its BitCoin Cannabis Payment Solutions Development
SEATTLE, WA / 06/20/17 /
SinglePoint, Inc. (OTC PINK: SING), today announces that it has
successfully closed a $1 million company friendly Convertible Promissory Note
with an institutional investor. Proceeds from the investment will be used to
execute on the company's previously announced BitCoin Payments solution, as part
of its partnership with First BitCoin Capital (OTC: BITCF). With the new round
of funding, SinglePoint management believes the company will be able to move
very quickly to develop a crypto currency solution and continue acquisitions in
cannabis space.
"This is great timing for SinglePoint. We have many acquisitions deals in the
pipeline, and access to this capital will exponentially increase the chances of
getting these done. In addition, we have many technical developments that are
ready launch. We will be able to develop our solutions and really start driving
sales," states Greg Lambrecht CEO of SinglePoint.
SinglePoint currently offers many integrated business solutions. The addition of
BitCoin Payments to its portfolio will help solve the banking issue in the
cannabis industry and other high-risk markets. Furthermore, SinglePoint has
developed and is releasing a full-scale web development and online marketing
solution for dispensaries. The company will use some of this funding to launch
its own online marketing system to drive more customers to SingleSeed.com. In
the acquisition space, SinglePoint has already acquired several companies in the
cannabis vertical, and is currently in discussions with other targets for a
potential roll-up.
For many years, SinglePoint has worked on finding solutions for the cannabis
industry. With this new partnership and development, SinglePoint no longer needs
to wait on federal banking guidelines to advance its plans to specifically
address the payments challenges in the cannabis industry and other high-risk
markets. The company also notes the value of bitcoin, which has increased 236%
in the past year, according to CoinBase. This increase, along with Japan
recognizing bitcoin as a legal currency, has led to wide spread adoption of the
technology. As quoted in Bloomberg, "It's not foreign to [consumers] now, like
some sort of weird scam that they [consumers] don't know about," he (Greg
Lambrecht) said. "More and more establishments are accepting it, but it's kind
of like the wild, wild west."
SinglePoint and First BitCoin Capital have planned four developments based on
bitcoin, ethereum and the technology of block chain. SinglePoint recently
acquired the rights and domain name of www.SingleCoin.com in a planned potential
Initial Coin Offering (ICO) that would support transactions on the block chain
specifically for cannabis and other high risk industries.
SinglePoint Deliverables:
BitCoin Currency Solution for Cannabis Banking Problems
Highly Innovative Block Chain Supply Chain Management Solution
Initial Coin Offerings (ICO) through First BitCoin Capital's Recent Launch
SingleSeed.com to Launch Full Scale Web Design and Online Marketing Services for
Dispensaries
Revenue Growth through Additional Acquisitions
Extensive Network of Financial Partners and Technology Partners to Quickly
Execute the Deliverables
About SinglePoint, Inc.
SinglePoint, Inc. (SING) has grown from a full-service mobile technology
provider to a publicly traded holding company. Through diversification into
horizontal markets, SinglePoint is building its portfolio by acquiring an
interest in undervalued subsidiaries, thereby providing a rich, diversified
holding base. Through its subsidiary company SingleSeed the company is providing
products and services to the cannabis industry.
Connect on social media at:
www.facebook.com/SinglePointMobile
http://www.twitter.com/_SinglePoint_
www.linkedin.com/company/SinglePoint
www.youtube.com/user/SinglePointMobile
For more information visit www.SinglePoint.com or www.SingleSeed.com
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, 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.
Technical 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.
Contact:
SinglePoint, Inc.
Greg Lambrecht
602.481.1544
Source: SinglePoint, Inc.
Digital Currency Headed for Widespread Acceptance, Has Potential as Cure for
Banking Concerns among Cannabis Companies
New York, NY – June 14, 2017 –
NetworkNewsWire.com News
Coverage: The cannabis market in the U.S. and worldwide continues to
grow, but that doesn’t mean everyone is open to the idea of legal marijuana. The
banking industry is one
example,
as the Federal Deposit Insurance Corporation (FDIC) has generally been
unsupportive of backing cannabis-related investments. Since marijuana hasn’t
been legalized at the federal level, most banks are hesitant to have any part of
the $6.7 billion marijuana industry. While many industry experts expect this
stance to change amid growing support for a bankable marijuana industry, 70
percent of cannabis companies currently operate without access to a corporate
bank account. Industry innovators are gearing up to fill this payments gap,
however.
SinglePoint, Inc. (OTC: SING) recently announced an alternative payment
solution in partnership with First BitCoin Capital Corp. (OTC: BITCF) to develop
a bitcoin payment solution for the marijuana industry. Other major players on
the rising bitcoin market include price-tracking Bitcoin Investment Trust (OTC:
GBTC) and a growing number of retailers, including Overstock.com, Inc. (NASDAQ:
OSTK) and mobile gaming company Zynga, Inc. (NASDAQ: ZNGA), that are currently
accepting digital currencies.
A lack of bank support hasn’t deterred
SinglePoint, Inc. (OTC: SING) from aggressively expanding its market
reach to the 29 states that have legalized medical marijuana. Demonstrative of
its insight into the opportunities afforded by mounting acceptance and
legalization of marijuana, SinglePoint recently announced its partnership with
First Bitcoin Capital (OTC: BITCF), a leading provider of bitcoin technology, to
create a viable payments solution for unbanked cannabis businesses.
Using “blockchain
technology”, the solution will target high-risk payment verticals and enable
customers to use their credit or debit cards at a medical/recreational cannabis
dispensary – a capability that will benefit customers as well as the swelling
number of cannabis suppliers and dispensaries across the nation.
"We are optimistic that our partnership with SinglePoint will produce positive
cash flow to our bottom line. Between the two of our companies, we will have the
ability to develop a best in class solution and SinglePoint will be able to help
in distribution. We look forward to providing cutting edge products and services
to all states through the establishment of this new venture," Greg Rubin of
First Bitcoin Capital stated in the press release (
http://nnw.fm/7XlMo ).
This isn’t the first time SinglePoint has undertaken significant integration.
The company has successfully completed technology integrations with Twilio,
RedFynn and IATS, as well as ATT, T-Mobile, Sprint and Verizon, enabling
SinglePoint to provide its text message marketing and text-based payment
solutions. Leveraging this experience, along with First Bitcoin Capital’s
expertise, the companies plan to develop payment technology that can be easily
implemented into any point-of-sale machine through a simple download of the
application.
SinglePoint, through its SingleSeed Payments subsidiary (
www.SingleSeed.com ), already has its
roots as a payment solutions provider to the cannabis industry. SingleSeed
Payments delivers tools and support specifically crafted to help cannabis
businesses stay on top of key issues in the retail and recreational markets in
order to build their customer base and develop effective strategies.
As SinglePoint continues to diversify its investment portfolio (
http://nnw.fm/Ds3d9 ) – which includes a stake
in Convectium, the manufacturer and distributor of an innovative equipment and
packaging solution in the cannabis industry, and Discount Indoor Garden Supply
(“DIGS”) – the company is proving its foresight into the demand for new
capabilities and technologies such as digital currency and is also set to
benefit from anticipated investments in cannabis (
http://nnw.fm/i3WwI ).
The demand for bitcoin isn’t only on the retail side, however. It is also
gaining ground in the investment community.
Recently named to OTC Markets Group’s “OTCQX Best 50” for 2017, Bitcoin
Investment Trust (OTCQX: GBTC) enables investors to gain exposure to bitcoin’s
price movement through a traditional investment vehicle, sidestepping the
challenges of buying, storing and safekeeping bitcoins. Bitcoin Investment
Trust’s shares are the first publicly quoted securities that are solely invested
in and deriving value from the price of bitcoin. Bitcoin Investment Trust is
sponsored by Grayscale, a digital currency group company, which is also a
sponsor of the Ethereum Classic Investment Trust.
Digital currencies are on track to transform finance, and the potential
application of this technology goes well beyond the cannabis industry and the
borders of the United States. In Japan, for example, experts forecast bitcoin
will soon be accepted in 260,000 stores. Though not on par with the pace
overseas, more U.S.-based retailers are participating in the growing phenomena
of “Internet money.”
Overstock.com (NASDAQ: OSTK), in 2014, became the first major U.S. retailer to
accept bitcoin. A brief two years, later Overstock began to issue stock over the
Internet, becoming the first publicly traded company to do so. According to a
December 2016 article at Wired.com, Overstock distributed more than 126,000
shares via bitcoin blockchain. Controlled by a global network of computers, this
blockchain (an online ledger) isn’t controlled by any government or single
company, which adds to its allure. It tracks all financial exchanges. In
addition to money, it can track stocks and bonds as well. Blockchain shares are
driven through a broker and other middlemen to satisfy regulatory requirements,
making them not much unlike a stock offering.
Zynga (NASDAQ: ZNGA) was also among the first to jump into digital currency. The
mobile gaming provider, which was recently upgraded to an Overweight rating at
Morgan Stanley, in January 2014 took note of rising popularity of bitcoin and,
via Reddit, announced it would begin testing the currency as payment for in-game
purchases. At the time, bitcoin was priced around $1,200. Today, one bitcoin is
the equivalent to more than $2,715.
From consumer products at Overstock.com to high-risk verticals such as cannabis,
digital currency continues to pick up momentum worldwide. With a nod to the need
for payment solutions in the marijuana industry, SinglePoint is on track to
become the preferred payment solution in the marijuana industry, which is
predicted to grow to $24 billion by the year 2026, based on New Frontier
projections.
For more information on SinglePoint please visit:
SinglePoint, Inc. (OTC: SING) or
www.SinglePoint.com
About NetworkNewsWire
NetworkNewsWire (NNW) is an information service that provides to users (1)
access to our news aggregation and syndication servers, (2) enhanced press
release services, and (3) a full array of social communication solutions. As a
multifaceted financial news and content distribution company with an extensive
team of contributing journalists and writers, NNW is uniquely positioned to best
serve private and public companies that desire to reach a wide audience of
investors, consumers, journalists and the general public. NNW has an
ever-growing distribution network of more than 5,000 key syndication outlets
across the country. By cutting through the overload of information in today's
market, NNW brings its clients unparalleled visibility, recognition and brand
awareness. NNW is where news, content and information converge.
NetworkNewsWire (NNW)
New York, New York
www.NetworkNewsWire.com
212.418.1217 Office
Editor@NetworkNewsWire.com
Please see full terms of use and disclaimers on the NetworkNewsWire website
applicable to all content provided by NNW, wherever published or re-published:
http://NNW.fm/Disclaimer
DISCLAIMER: NetworkNewsWire (NNW) is the source of the Article and content set
forth above. References to any issuer other than the profiled issuer are
intended solely to identify industry participants and do not constitute an
endorsement of any issuer and do not constitute a comparison to the profiled
issuer. FN Media Group (FNM) is a third-party publisher and news dissemination
service provider, which disseminates electronic information through multiple
online media channels. FNM is NOT affiliated with NNW or any company mentioned
herein. The commentary, views and opinions expressed in this release by NNW are
solely those of NNW and are not shared by and do not reflect in any manner the
views or opinions of FNM. Readers of this Article and content agree that they
cannot and will not seek to hold liable NNW and FNM for any investment decisions
by their readers or subscribers. NNW and FNM and their respective affiliated
companies are a news dissemination and financial marketing solutions provider
and are NOT registered broker-dealers/analysts/investment advisers, hold no
investment licenses and may NOT sell, offer to sell or offer to buy any
security.
The Article and content related to the profiled company represent the personal
and subjective views of the Author, and are subject to change at any time
without notice. The information provided in the Article and the content has been
obtained from sources which the Author believes to be reliable. However, the
Author has not independently verified or otherwise investigated all such
information. None of the Author, NNW, FNM, or any of their respective
affiliates, guarantee the accuracy or completeness of any such information. This
Article and content are not, and should not be regarded as investment advice or
as a recommendation regarding any particular security or course of action;
readers are strongly urged to speak with their own investment advisor and review
all of the profiled issuer's filings made with the Securities and Exchange
Commission before making any investment decisions and should understand the
risks associated with an investment in the profiled issuer's securities,
including, but not limited to, the complete loss of your investment.
NNW & FNM HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.
This release contains "forward-looking statements" within the meaning of Section
27A of the Securities Act of 1933, as amended, and Section 21E the Securities
Exchange Act of 1934, as amended and such forward-looking statements are made
pursuant to the safe harbor provisions of the Private Securities Litigation
Reform Act of 1995. "Forward-looking statements" describe future expectations,
plans, results, or strategies and are generally preceded by words such as "may",
"future", "plan" or "planned", "will" or "should", "expected," "anticipates",
"draft", "eventually" or "projected". You are cautioned that such statements are
subject to a multitude of risks and uncertainties that could cause future
circumstances, events, or results to differ materially from those projected in
the forward-looking statements, including the risks that actual results may
differ materially from those projected in the forward-looking statements as a
result of various factors, and other risks identified in a company's annual
report on Form 10-K or 10-KSB and other filings made by such company with the
Securities and Exchange Commission. You should consider these factors in
evaluating the forward-looking statements included herein, and not place undue
reliance on such statements. The forward-looking statements in this release are
made as of the date hereof and NNW and FNM undertake no obligation to update
such statements.
Media Contact e-mail: FN Media Group, LLC - editor@financialnewsmedia.com
(954)345-0611
News Source: NetworkNewsWire
Bitcoin Currency Could Solve Banking Issues for Cannabis Industry
New York, NY – June 7, 2017 –
NetworkNewsWire.com News
Coverage: Though some form of cannabis is now legal in 29 states and
the District of Columbia, a lack of banking options for cannabis businesses in
the United States continues to force marijuana merchants to rely solely on cash
transactions. This inhibition has been a major obstacle for dispensaries and
other cannabis-related businesses, but the use of bitcoin technology could be
the key to overcoming the roadblock.
SinglePoint, Inc. (OTC:
SING) has announced an initiative to develop a bitcoin payment solution
for the marijuana industry, providing a much-needed financial transaction option
and allowing cannabis businesses to accept credit card payments without the
cooperation of banks or the FDIC. The growing popularity and acceptance of
bitcoin is evidenced by the activities of companies like BTCS, Inc., Bitcoin
Investment Trust (OTC: GBTC), Zynga, Inc. (NASDAQ: ZNGA) and Square, Inc. (NYSE:
SQ) and further validates the wisdom of exploring bitcoin payment options for
the cannabis industry.
Bitcoin is a digital currency through which funds can be transferred independent
of banks and unregulated by governments. On April 1, 2017, bitcoin became an
official payment method in Japan, with hundreds of thousands of shops expected
to accept bitcoin in that country throughout this year1. In the U.S., various
major retailers are also accepting bitcoin, including Overstock.com, Inc. (OSTK),
Microsoft and Subway2. Bitcoin has additionally provided annual returns of more
than 286 percent, according to prices from CoinMarketCap.com.
As a financial transaction option for currently “unbankable” cannabis businesses
in the U.S., bitcoin could be the perfect solution. New Frontier projections
have shown the cannabis industry reaching $24 billion by the year 2026, and such
significant growth demands adequate payment options to keep pace.
SinglePoint, Inc. (OTC:
SING) has partnered with First Bitcoin Capital Corp. (OTC: BITCF)
(Press: http://nnw.fm/d1ewJ ) to create a
proprietary bitcoin payment solution for the cannabis industry. As part of its
broader strategy (http://nnw.fm/1hoVP to
cement its position in the budding marijuana industry, SinglePoint has been
actively providing corporate solutions to cannabis businesses through its
SingleSeed subsidiary, offering mobile marketing and payment solutions such as
cashless ATM, Pay-by-Text™ and text message marketing. The
SingleSeed.com
website has additionally become a popular resource for marijuana dispensaries
that are seeking merchant payment processing solutions and other business tools.
The company has also made several acquisitions to take a diversified approach to
the marijuana industry, without touching the actual plant. Its portfolio
includes a majority stake in Discount Indoor Garden Supply (http://nnw.fm/yo2jF)
and an investment in Convectium (http://nnw.fm/2GuZ5).
Now, SinglePoint believes it has found a way to apply bitcoin technology to
provide customers with a seamless payment experience at cannabis dispensaries
when using their credit or debit cards. The company’s end goal is to provide a
bitcoin payment solution that can be easily implemented in any point-of-sale
machine through a simple application download.
In collaboration with First Bitcoin Capital, SinglePoint will seek out and
identify opportunities to apply its payment technology expertise to develop a
proprietary solution for high-risk verticals like the cannabis industry.
"In January 2014 SinglePoint announced (http://nnw.fm/ATUj1) and started working
on a bitcoin payment solution, shortly after we recognized the issue of minimal
user adoption of digital currency. The payments industry has rapidly changed
since that time. There is now tremendous momentum and demand for bitcoin
acceptance as an alternative form of payment. This Joint Venture with First
Bitcoin Capital is perfect timing. Bitcoin payments are catching on and cannabis
dispensaries need a solution fast," SinglePoint CEO Greg Lambrecht stated in a
press release (http://nnw.fm/d1ewJ) announcing the bitcoin initiatives.
SinglePoint has already been successful in completing technology integrations
with companies like Twilio, RedFynn and IATS and with major carriers like ATT,
T-Mobile, Verizon and Sprint. This has enabled SinglePoint to offer its text
message marketing and text-based payment solutions, and the company said it now
intends to utilize these successful integrations in developing its bitcoin
payments technology—doing so either independently or with a well-qualified
development partner.
While SinglePoint appears to be the frontrunner in applying digital currency
solutions to the cannabis industry, other publicly traded companies have also
recognized the game-changing opportunities offered by bitcoin technology. An
early mover within the blockchain and digital currency ecosystems, BTCS, Inc.
has been recognized as the first “pure play” public company in the U.S. to focus
on blockchain technologies, which are the technologies that underpin bitcoin
digital currency.
Bitcoin Investment Trust (OTCQX: GBTC) is another digital currency play.
Recently named to OTC Markets Group’s “OTCQX
Best 50” for 2017, Bitcoin
Investment Trust is a U.S.-based, open-ended grantor trust sponsored by
Grayscale Investments that is invested exclusively in bitcoin. Its shares are
the first publicly quoted securities that are solely invested in and deriving
value from the price of bitcoin. This enables investors to gain exposure to
bitcoin’s price movement through a traditional investment vehicle, sidestepping
the challenges of buying, storing and safekeeping bitcoins.
As previously noted, a swelling number of companies – ranging from technology,
travel and bookstores to restaurants, individual retailers and gaming sites -
have started accepting digital currency for payments. Names like Dish Network,
Shopify, Mint.com, Whole Foods and Expedia might ring a bell.
Social games giant Zynga (NASDAQ: ZNGA), creator of popular evergreen franchises
like FarmVille and Words with Friends, has also climbed aboard the bitcoin
bandwagon, and it has been accepting bitcoins as a form of payment for in-game
purchases since 2014.
Another is Square (NYSE: SQ), a major provider of business tools that enable
sellers of all sizes to start, run and grow their businesses. Square also began
pioneering bitcoin solutions back in 2014, announcing an intention to build a
register that would allow companies to accept bitcoin and Apple Pay. You might
recognize Square as the creator of the small white credit card reader used by
many individual retailers, restaurants and other merchants.
As the use and acceptance of bitcoin becomes ever more widespread, with the
demand for digital convenience and payment capabilities serving as a powerful
catalyst, its potential as a financial transaction solution for the cannabis
industry is quite promising. Until the cannabis industry becomes bankable in the
U.S., an easy-to-deploy and simple-to-use means of accepting bitcoin payment
could be the golden ticket for which marijuana dispensaries and other cannabis
businesses have been waiting.
Editorial Sources:
(1) Bitcoin.com: http://nnw.fm/7EvhA
(2) 99Bitcoins.com: http://nnw.fm/h2Qq8
For more information on SinglePoint please visit:
Singlepoint (SING) or
www.SinglePoint.com
About NetworkNewsWire
NetworkNewsWire (NNW) is an information service that provides to users (1)
access to our news aggregation and syndication servers, (2) enhanced press
release services, and (3) a full array of social communication solutions. As a
multifaceted financial news and content distribution company with an extensive
team of contributing journalists and writers, NNW is uniquely positioned to best
serve private and public companies that desire to reach a wide audience of
investors, consumers, journalists and the general public. NNW has an
ever-growing distribution network of more than 5,000 key syndication outlets
across the country. By cutting through the overload of information in today's
market, NNW brings its clients unparalleled visibility, recognition and brand
awareness. NNW is where news, content and information converge.
NetworkNewsWire (NNW)
New York, NY
www.NetworkNewsWire.com
212.418.1217 Office
Editor@NetworkNewsWire.com
Please see full terms of use and disclaimers on the NetworkNewsWire website
applicable to all content provided by NNW, wherever published or re-published:
http://NNW.fm/Disclaimer
DISCLAIMER: NetworkNewsWire (NNW) is the source of the Article and content set
forth above. References to any issuer other than the profiled issuer are
intended solely to identify industry participants and do not constitute an
endorsement of any issuer and do not constitute a comparison to the profiled
issuer. FN Media Group (FNM) is a third-party publisher and news dissemination
service provider, which disseminates electronic information through multiple
online media channels. FNM is NOT affiliated with NNW or any company mentioned
herein. The commentary, views and opinions expressed in this release by NNW are
solely those of NNW and are not shared by and do not reflect in any manner the
views or opinions of FNM. Readers of this Article and content agree that they
cannot and will not seek to hold liable NNW and FNM for any investment decisions
by their readers or subscribers. NNW and FNM and their respective affiliated
companies are a news dissemination and financial marketing solutions provider
and are NOT registered broker-dealers/analysts/investment advisers, hold no
investment licenses and may NOT sell, offer to sell or offer to buy any
security.
The Article and content related to the profiled company represent the personal
and subjective views of the Author, and are subject to change at any time
without notice. The information provided in the Article and the content has been
obtained from sources which the Author believes to be reliable. However, the
Author has not independently verified or otherwise investigated all such
information. None of the Author, NNW, FNM, or any of their respective
affiliates, guarantee the accuracy or completeness of any such information. This
Article and content are not, and should not be regarded as investment advice or
as a recommendation regarding any particular security or course of action;
readers are strongly urged to speak with their own investment advisor and review
all of the profiled issuer's filings made with the Securities and Exchange
Commission before making any investment decisions and should understand the
risks associated with an investment in the profiled issuer's securities,
including, but not limited to, the complete loss of your investment.
NNW & FNM HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.
This release contains "forward-looking statements" within the meaning of Section
27A of the Securities Act of 1933, as amended, and Section 21E the Securities
Exchange Act of 1934, as amended and such forward-looking statements are made
pursuant to the safe harbor provisions of the Private Securities Litigation
Reform Act of 1995. "Forward-looking statements" describe future expectations,
plans, results, or strategies and are generally preceded by words such as "may",
"future", "plan" or "planned", "will" or "should", "expected," "anticipates",
"draft", "eventually" or "projected". You are cautioned that such statements are
subject to a multitude of risks and uncertainties that could cause future
circumstances, events, or results to differ materially from those projected in
the forward-looking statements, including the risks that actual results may
differ materially from those projected in the forward-looking statements as a
result of various factors, and other risks identified in a company's annual
report on Form 10-K or 10-KSB and other filings made by such company with the
Securities and Exchange Commission. You should consider these factors in
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News Source: NetworkNewsWire
SinglePoint and First Bitcoin
Capital Partner Up In An Effort To Solve Payment Problems in the Cannabis
Industry Through Bitcoin and blockchain alternative payment technology
SEATTLE, WA / 06/06/17 /
SinglePoint, Inc. (OTC PINK: SING), an acquisition-based company with a
focus on emerging markets, today announces its initiative to develop a bitcoin
payments solution in partnership with First Bitcoin Capital Corp. (OTC: BITCF).
The two companies signed a Joint Venture agreement to develop and distribute a
viable payments solution using block chain technology. First Bitcoin Capital is
an industry leading Bitcoin and blockchain technology provider and SinglePoint
has a deep history in distribution. The two companies believe this partnership
will enable each company to focus on their core strengths to build and supply
the best Bitcoin solution available.
With the massive and widespread adoption of Bitcoin worldwide, the two companies
will pursue opportunities to leverage their payment technology background and
develop a proprietary solution specifically for high-risk payment verticals
including the cannabis industry.
SinglePoints' representation at Mobile World Congress in Barcelona this year saw
many solutions being utilized in other countries based on Bitcoin and other
crypto currencies such as Ethereum. SinglePoint and First Bitcoin Capital
believe they have found a way for the customer experience to go unchanged at the
point of sale when paying with a credit or debit card at medical and
recreational cannabis dispensaries.
Under this initiative, the companies will offer a best-in-class Bitcoin solution
to fill the payments gap that currently exists.
As SinglePoint CEO Greg Lambrecht states, "In January 2014 SinglePoint announced
and started working on a bitcoin payment solution, shortly after we recognized
the issue of minimal user adoption of digital currency. The payments industry
has rapidly changed since that time. There is now tremendous momentum and demand
for bitcoin acceptance as an alternative form of payment. This Joint Venture
with First Bitcoin Capital is perfect timing. Bitcoin payments are catching on
and cannabis dispensaries need a solution fast."
SinglePoint has successfully completed technology integrations with companies
such as Twilio, RedFynn, IATS, and all the major carriers ATT, T-Mobile, Sprint
and Verizon. Which has enabled the company to provide its text message marketing
and text based payment solutions. SinglePoint will now use its experience to
work and integrate with First BitCoin Capital to provide an all-encompassing
payment solution. First Bitcoin Capital and SinglePoint plan for this technology
to be easily implemented into any Point of Sale machine through a simple
download of the application.
Greg Rubin of First Bitcoin Capital stated, "We are optimistic that our
partnership with SinglePoint will produce positive cash flow to our bottom line.
Between the two of our companies, we will have the ability to develop a best in
class solution and SinglePoint will be able to help in distribution. We look
forward to providing cutting edge products and services to all states through
the establishment of this new venture."
Projections by New Frontier put the cannabis industry at $24 billion by 2026.
Cannabis is now legal in some form in 29 states and the District of Columbia.
Increased need for payment options correlates with this industry growth, and
bitcoin stands to be a promising solution. Based on prices from CoinMarketCap,
bitcoin has provided annual returns of over 286%. As a testament, Japan recently
recognized the currency as a legal payment method and projects that it will be
accepted in 260,000 stores in the near future. Furthermore, bitcoin is an
accepted form of payment for a number of large retailers, including
Overstock.com.
As the cannabis industry continues to evolve, SinglePoint and First Bitcoin
Capital are committed to initiatives to identify and develop solutions that
enhance the success of the cannabis industry and participating businesses.
About SinglePoint, Inc.
SinglePoint, Inc. (SING) has grown from a full-service mobile technology
provider to a publicly traded holding company. Through diversification into
horizontal markets, SinglePoint is building its portfolio by acquiring an
interest in undervalued subsidiaries, thereby providing a rich, diversified
holding base. Through its subsidiary company SingleSeed the company is providing
products and services to the cannabis industry.
Connect on social media at: www.facebook.com/SinglePointMobile, http://www.twitter.com/_SinglePoint_,
www.linkedin.com/company/SinglePoint and www.youtube.com/user/SinglePointMobile
For more information visit www.SinglePoint.com or www.SingleSeed.com
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, 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. Technical 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.
Contact:
SinglePoint, Inc.
Greg Lambrecht
602.481.1544
Source: SinglePoint, Inc.
Evolution of Marijuana Industry Creates Wealth of Opportunity for Companies with
Foresight and Action
New York, NY – May 24, 2017 –
NetworkNewsWire.com News
Coverage: The marijuana industry continues to evolve at a breakneck
pace in the United States, and an increasing number of businesses are finding
their niche in this rampant market as it burns toward nationwide legalization.
In the wake of this evolution, various new types of businesses are emerging to
provide the consumer and commercial markets with products and services such as
branding and packaging, smoke lounges, cultivation operations, grow equipment,
pain management, payment solutions and numerous others. SinglePoint, Inc. (OTC:
SING), Medical Marijuana, Inc. (OTC: MJNA), Kush Bottles, Inc. (OTC:
KSHB), Scott’s Miracle-Gro Co. (NYSE: SMG) and Canopy Growth Corp. (OTC: TWMJF)
represent a handful of innovators finding ways to cash-in on the plentiful
opportunities
within this budding market.
A quick browse through marijuana-related news provides just a glimpse of the
progress being made in the mammoth industry. In Vermont, a landmark bill
legalized marijuana for adults over 21, marking the first time a state
legislature has ever originated and passed a marijuana legalization bill.
Previously, adult-use legalization measures in the U.S. were passed by popular
citizen vote. Massachusetts and Maine are also moving forward, with retail
stores expected to open in both states in 2018. In Oregon, the City of Portland
is backing cannabis businesses in lobbying for a bill that would permit
marijuana consumption at licensed lounges, similar to tobacco smoking patios.
These are only the latest in a wave of headline-making happenings related to
marijuana legalization efforts throughout the country.
Companies like SinglePoint, Inc. (OTC:
SING), are well-aware of these developments and are making headway in
their respective niches. SinglePoint is building an acquisition portfolio of
undervalued subsidiaries with a focus on innovative technologies. When it comes
to opportunities in the marijuana industry, SinglePoint’s strategy is to provide
various ancillary services and non-plant-based solutions to dispensaries,
growers and consumers.
Due to federal restrictions, marijuana businesses lack access to banking
options, but industry experts expect this to change. Anticipating the need for
electronic payment options once the industry does become bankable (
http://nnw.fm/8oB02 ), SinglePoint has
structured its cannabis brand subsidiary,
www.SingleSeed.com , as a hub for the online sale of cannabis products to
marijuana dispensaries. When the tide turns, SinglePoint will be a “first mover”
in providing payment solutions to cannabis businesses through its SingleSeed
Payments, which is geared up to provide payment solutions such as mobile
marketing, cashless ATM, Pay-by-Text™ and text message marketing (
http://nnw.fm/W84Lt ). Ready at the gates,
SingleSeed.com has become a standout resource for marijuana dispensaries seeking
merchant payment processing solutions and other business tools.
Waiting on this opportunity doesn’t mean inaction, however. SinglePoint in early
May announced ( http://nnw.fm/QjJ9m ) its
plans to start onboarding “high risk” merchant accounts, a category of more than
100 types of businesses, including auctions, vape pen sales, gambling, online
gaming and more, which typically offer higher margins than traditional accounts.
“We are providing multiple solutions to the cannabis space and we are trying to
do the same in the payments space as well,” SinglePoint CEO Greg Lambrecht
stated in the news release. “Being able to offer a payment solution to multiple
different verticals gives the company a larger target market to tap into. We
believe high risk is a huge opportunity and an underserved market at this
point.”
SinglePoint’s core business strategy (
http://nnw.fm/obb8Z ) is one of diversification and the relentless pursuit
of building corporate value. On point, the company earlier this year announced
its investment in Convectium, a profitable provider of
equipment, branding and
packaging solutions to the marijuana industry. Convectium has developed the very
first cartridge and vape pen oil filling machines created for wholesale
distribution to cannabis dispensaries. The company’s 710Shark and 710Seal
machines, currently sold through its EquipCanna.com brand, can fill and package
more than 100 cartridges or disposable vape pens in 30 seconds, providing an
attractive alternative to the traditional, time-consuming method of hand-filling
cartridges. Also operating consumer brands HazeSticks and BlackoutX, Convectium
has a market reach into more than 52 countries.
SinglePoint also recently signed a Letter of Intent (
http://nnw.fm/0iSI1 ) to acquire 90 percent of
California-based Discount Indoor Garden Supply (“DIGS”), a provider of growing
equipment and accessories for individual or commercial plant cultivators. In
addition to its online store (
www.DIGSHydro.com ), DIGS operates two store-front locations with plans for
a third in the near future.
This acquisition is expected to bring immediate revenues to SinglePoint as it
deepens its reach in the State of California, which houses thousands of
cannabis-related businesses. Through DIGS, SinglePoint will be able to offer
soil and supplies similar to a household brand and recognizable player in the
marijuana industry, Scotts Miracle-Gro (NYSE: SMG).
Well known for its lawn and garden care products, Scotts Miracle-Gro is also
heavily investing in hydroponics - the method of growing plants without soil – a
method primarily used in indoor and urban gardening. Hydroponics has also become
the standard for growth in the marijuana industry. In May 2016, The Hawthorne
Gardening Company, a wholly owned subsidiary of Scotts Miracle-Gro, spent $136.2
million on the acquisition of a 75 percent stake in greenhouse and hydroponic
indoor lighting producer Gavita. In October 2016, The Hawthorne Gardening
Company also acquired American Agritech, which is a hydroponic growing systems
and plant supplements producer.
Industry peer Medical Marijuana (OTC: MJNA) is taking a unique approach to
providing marijuana products without waiting for federal governmental approval
to do so. The company has discovered a way to work within federal government
cannabis restrictions to legally offer high-quality cannabis-derived products in
the United States. The key to doing so pertains to non-psychoactive cannabinoids
like cannabidiol (CBD), which has a wide variety of potential health
applications but does not rely on tetrahydrocannabinol (THC), the psychoactive
chemical compound in cannabis. MJNA’s approach is to grow low-THC varieties of
cannabis (hemp) outside the United States, create CBD hemp oil, and import it to
the United States. Taken from carefully cultivated hemp plants, CBD hemp oil is
an extract that is completely legal, non-psychoactive, contains a full spectrum
of phytocannabinoids, is high in CBD and has almost no THC, making it legal to
sell in the U.S. MJNA’s products, provided through the HempMeds and Kannaway
distribution divisions, include pure CBD hemp oil extracts, sprays, tinctures,
capsules, vaporizers, bath and body products and chewing gum. Along with selling
CBD hemp oil products to more than 200,000 individuals in the U.S., MJNA has
also been able to offer the first legal marijuana products in Brazil and Mexico.
Recently, the company’s Kannaway brand expanded into the European marketplace
and is expected to be fully operational there by the fourth quarter of 2017.
Another company set to cash-in on the evolution in the marijuana industry is
Kush Bottles (OTCQB: KSHB). Getting its footing in 2010 as a provider of
cutting-edge packaging solutions for the marijuana industry, Kush Bottles has
since expanded its product line, which now ranges from custom packaging and
labeling items to point-of-sale products like grinders, papers, lighters and
glass pieces. Kush Bottles serves thousands of cannabis dispensaries, retail
shops, growers and consumers and has become a leading packaging supply and
services company that exclusively addresses the needs of the marijuana industry.
Recently, Kush Bottles added the web domain Roll-uh-Bowl.com to its list of
acquisitions. Attracting an average of 39,500 web users monthly, Roll-Uh-Bowl.com
is an online distribution platform for the retail sale of collapsible,
unbreakable medical-grade silicone water pipes.
Canopy Growth (OTC: TWMJF) is also successfully navigating the marijuana market.
A leading global diversified cannabis company, Canopy Growth operates various
diverse brands and curated strain varieties that are supported by more than half
a million square feet of indoor greenhouse production capacity and that are also
partnered with some of the biggest names in the sector. The company’s core
brands include Tweed, which has become one of the most recognized marijuana
production brands in the world; Bedrocan medical-grade cannabis; and the Mettrum
natural health brand.
Consumer demand, political support, and public opinion are powerful drivers
behind the movement toward legalized marijuana, and present an increasing number
of opportunities for companies to profit. The named companies are among
standouts in this sector that are successfully navigating the growing cannabis
market and implementing smart strategies to capitalize on its manifold
opportunities.
For more information on SinglePoint please visit: SinglePoint, Inc. (OTC:
SING), or www.SinglePoint.com
About NetworkNewsWire
NetworkNewsWire (NNW) is an information service that provides to users (1)
access to our news aggregation and syndication servers, (2) enhanced press
release services, and (3) a full array of social communication solutions. As a
multifaceted financial news and content distribution company with an extensive
team of contributing journalists and writers, NNW is uniquely positioned to best
serve private and public companies that desire to reach a wide audience of
investors, consumers, journalists and the general public. NNW has an
ever-growing distribution network of more than 5,000 key syndication outlets
across the country. By cutting through the overload of information in today's
market, NNW brings its clients unparalleled visibility, recognition and brand
awareness. NNW is where news, content and information converge.
NetworkNewsWire (NNW)
New York, NY
www.NetworkNewsWire.com
212.418.1217 Office
Editor@NetworkNewsWire.com
Please see full terms of use and disclaimers on the NetworkNewsWire website
applicable to all content provided by NNW, wherever published or re-published:
http://NNW.fm/Disclaimer
DISCLAIMER: NetworkNewsWire (NNW) is the source of the Article and content set
forth above. References to any issuer other than the profiled issuer are
intended solely to identify industry participants and do not constitute an
endorsement of any issuer and do not constitute a comparison to the profiled
issuer. FN Media Group (FNM) is a third-party publisher and news dissemination
service provider, which disseminates electronic information through multiple
online media channels. FNM is NOT affiliated with NNW or any company mentioned
herein. The commentary, views and opinions expressed in this release by NNW are
solely those of NNW and are not shared by and do not reflect in any manner the
views or opinions of FNM. Readers of this Article and content agree that they
cannot and will not seek to hold liable NNW and FNM for any investment decisions
by their readers or subscribers. NNW and FNM and their respective affiliated
companies are a news dissemination and financial marketing solutions provider
and are NOT registered broker-dealers/analysts/investment advisers, hold no
investment licenses and may NOT sell, offer to sell or offer to buy any
security.
The Article and content related to the profiled company represent the personal
and subjective views of the Author, and are subject to change at any time
without notice. The information provided in the Article and the content has been
obtained from sources which the Author believes to be reliable. However, the
Author has not independently verified or otherwise investigated all such
information. None of the Author, NNW, FNM, or any of their respective
affiliates, guarantee the accuracy or completeness of any such information. This
Article and content are not, and should not be regarded as investment advice or
as a recommendation regarding any particular security or course of action;
readers are strongly urged to speak with their own investment advisor and review
all of the profiled issuer's filings made with the Securities and Exchange
Commission before making any investment decisions and should understand the
risks associated with an investment in the profiled issuer's securities,
including, but not limited to, the complete loss of your investment.
NNW & FNM HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.
This release contains "forward-looking statements" within the meaning of Section
27A of the Securities Act of 1933, as amended, and Section 21E the Securities
Exchange Act of 1934, as amended and such forward-looking statements are made
pursuant to the safe harbor provisions of the Private Securities Litigation
Reform Act of 1995. "Forward-looking statements" describe future expectations,
plans, results, or strategies and are generally preceded by words such as "may",
"future", "plan" or "planned", "will" or "should", "expected," "anticipates",
"draft", "eventually" or "projected". You are cautioned that such statements are
subject to a multitude of risks and uncertainties that could cause future
circumstances, events, or results to differ materially from those projected in
the forward-looking statements, including the risks that actual results may
differ materially from those projected in the forward-looking statements as a
result of various factors, and other risks identified in a company's annual
report on Form 10-K or 10-KSB and other filings made by such company with the
Securities and Exchange Commission. You should consider these factors in
evaluating the forward-looking statements included herein, and not place undue
reliance on such statements. The forward-looking statements in this release are
made as of the date hereof and NNW and FNM undertake no obligation to update
such statements.
Media Contact e-mail: FN Media Group, LLC - editor@financialnewsmedia.com
(954)345-0611quot;">
SEATTLE, WA / 05/17/17 /
SinglePoint, Inc. (OTC PINK: SING), a holding company specialized in the
acquisition of small to mid-sized companies with an emphasis on new
technologies, today announces that it has signed an Letter of Intent ("LOI")
with Discount Indoor Garden Supply ("DIGS"). According to the LOI, SinglePoint
will acquire 90 percent of DIGS in a stock and cash transaction. The acquisition
will bring immediate revenues to SinglePoint and positions the Company as a
leader in online products, retail stores, cannabis consulting, and equipment in
California, home to thousands of cannabis-related businesses and potential
customers.
The agreement with DIGS is yet another demonstration of SinglePoint's ability to
strategically grow its portfolio of investments in established, high-potential
cannabis businesses.
SinglePoint CEO Greg Lambrecht states, "We are committed to identifying and
making investments that will strengthen both parties' position in the cannabis
industry while building SinglePoint's corporate value. California is a major
market opportunity, and we will work to find the right companies, such as DIGS,
in which we can invest to gain a stronger foothold in the broader marijuana
industry."
DIGS's online store (www.DIGSHydro.com) offers a wide range of growing equipment
and accessories for individual or commercial plant cultivators. SinglePoint
believes there is a major opportunity within this market, as nearly every U.S.
state that has legalized the use of medical marijuana also allows licensed
patients the option to grow their own plants. Now, licensed consumers can order
an all-in-one unit to grow plants in the privacy of their home. DIGS's products
also include growing supplies, HVAC setup, grow rooms and accessories,
hydroponic garden solutions, and more.
DIGS currently has two store front locations and has plans to open a third in
the near future. Each store is strategically located in area where the majority
of licensed growers are established. DIGS is working on a bid to build-out a
15,000-plant operation in Southern California, and both parties in the announced
LOI look forward to exploring the potential for a new model of joint-venture
retail stores.
DIGS founder Carey Haas has over 25 years of experience in the industry. As the
owner of multiple retail businesses, including a dispensary, Haas has
established industry knowledge and relationships that will help grow both
companies' presence throughout California.
Haas states, "This is a perfect match for DIGS. Greg's distribution knowledge
paired with my expertise and relationships in cannabis industry create a strong,
synergistic opportunity to make this endeavor a major success."
The timing of the acquisition is also favorable for SinglePoint, as California
recently received endorsement for recreational cannabis and is expected to fully
legalize its use in January 2018. California is a large market and many people
including State Attorney General Becerra believe there is no stopping it.
About SinglePoint, Inc. SinglePoint, Inc. (SING) has grown from a full-service
mobile technology provider to a publicly traded holding company. Through
diversification into horizontal markets, SinglePoint is building its portfolio
by acquiring an interest in undervalued subsidiaries, thereby providing a rich,
diversified holding base. Through its subsidiary company SingleSeed the company
is providing products and services to the cannabis industry.
Connect on social media at: www.facebook.com/SinglePointMobile, http://www.twitter.com/_SinglePoint_,
www.linkedin.com/company/SinglePoint and www.youtube.com/user/SinglePointMobile
For more information visit www.SinglePoint.com or www.SingleSeed.com
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, 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.
Technical 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.
Contact:
SinglePoint, Inc.
Greg Lambrecht
602.481.1544
Source: SinglePoint, Inc.
Marijuana Stocks Drive Corporate Value by Delivering Automation, Technology and
Diverse Application
New York, NY – May 10, 2017 –
NetworkNewsWire.com News
Coverage: The marijuana market is ripe with investment opportunities,
and the leaders of the pack are those who demonstrate the vision and ability to
increase corporate value. Be it through revolutionary technology, health
applications, packaging and accessories, cultivation tools or other means,
companies like SinglePoint, Inc. (OTC:
SING), Kush Bottles, Inc. (OTC: KSHB), Insys Therapeutics, Inc. (NASDAQ:
INSY), Solis Tek, Inc. (OTC: SLTK) and Medical Marijuana, Inc. (OTC: MJNA) are
capturing their share of a burgeoning market and
presenting
investors with unique and exciting opportunities to climb aboard.
In North America, the cannabis market was valued at approximately $7.2 billion
in 2016, and it shows no sign of slowing down. Not only is the market’s CAGR
forecast between 17 and 25 percent within the next few years, but a recent
report from New Frontier Data further estimates that by the year 2020, U.S.
medical marijuana sales alone will increase to $13.3 billion, while adult
recreational marijuana sales will grow to approximately $11.2 billion(1).
Because marijuana is still illegal on a federal level (29 states and the
District of Columbia have passed initiatives or laws legalizing or regulating
the substance), some investors see the market as a risky bet. The gargantuan
size and potential of this market cannot be ignored, however, and numerous
companies are hedging against risks of violating federal law by offering a
hands-off approach that serves marijuana businesses without ever touching the
plant.
One such example is SinglePoint, Inc. (OTC:
SING) a provider of technology solutions to enable seamless business
transactions that’s building an acquisition portfolio of undervalued
subsidiaries with an emphasis in new technologies. When it comes to
opportunities in the marijuana industry, SinglePoint is taking advantage of a
couple avenues to maintain diversification and build corporate value.
SinglePoint’s cannabis vertical,
SingleSeed has a
competitive “head start” in providing mobile payment processing solutions,
business tools and text message marketing to “unbankable” marijuana dispensaries
whose operations are crimped because of the lack of banking in the industry.
SinglePoint founder and CEO Greg Lambrecht further discusses this obstacle, the
company’s revenue-generation strategy, and how SingleSeed.com could be a
“pick-and-shovel” for the cannabis industry in a podcast interview here:
http://nnw.fm/L9HdG
"The long-term vision is to build SingleSeed.com into a market-place for
dispensaries to buy the products they need to do business. SingleSeed will also
provide consulting services to cannabis businesses who need help gaining
traction and success in their strategies,” Lambrecht explained in a recent
shareholder update ( http://nnw.fm/edXE2 ).
Another component of SinglePoint’s strategy in the cannabis space also centers
on technology via its investment in Convectium, a profitable provider of
equipment, branding and packaging solutions for the cannabis industry.
Convectium is
the developer of the first cartridge and vape pen oil filling machines made for
wholesale distribution to marijuana dispensaries. Convectium’s 710Shark and
710Seal machines are capable of filling and packaging more than 100 cartridges
or disposable vape pens in just 30 seconds – an automation that represents a
significant advancement over the traditional, time-consuming and messy method of
filling cartridges by hand. Currently, these machines are sold to dispensaries
through the EquipCanna.com brand, and Convectium further operates a consumer
brand that includes BlackoutX and HazeSticks, reaching customers in over 52
countries.
Diversification is a considerable aspect of SinglePoint’s strategy to build
corporate value. Earlier this week SinglePoint signed a reseller agreement that
enables the company to start onboarding “high risk” merchant accounts. Over 100
business types are considered high risk, including auctions, vape pen sales,
gambling, online gaming and more. This approach serves as a doorway for
SinglePoint to offer payment solutions to cannabis businesses, which are also
considered high risk, when the industry becomes bankable.
"We are providing multiple solutions to the cannabis space and we are trying to
do the same in the payments space as well. Being able to offer a payment
solution to multiple different verticals gives the company a larger target
market to tap into. We believe high risk is a huge opportunity and an
underserved market at this point," Lambrecht stated in the news release (
http://nnw.fm/3iacI )
In addition to the need for marketing and automation, growing interest in
cannabis/marijuana products is also driving demand for packaging and
accessories. This is where Kush Bottles (OTCQB: KSHB) steps in – also taking
advantage of a hands-off approach. Kush Bottles started out in 2010 as a
provider of innovative packaging solutions for the marijuana industry, and the
company has since expanded its product line to range from custom packaging and
labeling items to point-of-sale products like grinders, lighters, papers and
glass pieces. Serving thousands of dispensaries, retail shops, growers and
consumers, Kush Bottles has become a premier packaging supply and services
company, catering exclusively to the needs of the cannabis industry.
Kush recently acquired Los Angeles-based CMP Wellness, LLC, a privately held
distributor of vaporizers, cartridges and accessories. According to the press
release, this move is expected to diversify Kush’s product range and deliver new
distribution channels and cross-selling opportunities for existing product
lines. Like SinglePoint’s Lambrecht, Kush CEO Nicholas Kovacevich also
acknowledged the need for financial options in the cannabis industry.
"The rapid growth of the cannabis market, coupled with the lack of access to
traditional financial services, creates a unique opportunity for Kush Bottles.
As a market leader, we are in a strong position to leverage our first-mover
advantage to grow market share and scale our business through market
consolidation. We have the necessary infrastructure to immediately support a
larger customer base and benefit from operational synergies while maintaining
Kush Bottles' high production standards,” Kovacevich stated in the press
release.
Another company serving the marijuana industry is Solis Tek (OTCQB: SLTK), a
vertically integrated technology company that provides digital lighting
equipment for hydroponic cannabis cultivation. The company’s digital lighting
solutions are designed to help increase yield, lower costs and improve crop
growth for cannabis growers. Solis Tek’s customers include retail stores,
distributors and commercial growers both in and outside of the United States,
and the business model is paying off. Solis Tek earlier this week reported
record revenues for the quarter ended March 31, 2017, of $2.9 million compared
to revenue of $2.5 million in the first quarter of 2016, representing a 12%
year-over-year increase. The company attributes this growth to strength in the
overall cannabis market, brand recognition and its ability to attract new
clients. It also noted “a number of significant expansion projects from our
existing customers.”
Another high demand aspect of the marijuana industry is medicinal purpose. Insys
Therapeutics (NASDAQ: INSY), a specialty pharmaceutical company, is successfully
navigating the medical marijuana market—in a manner of speaking. The company’s
innovative drugs are synthetic cannabinoids. In developing these pharmaceutical
cannabinoids, Insys aims to address the clinical shortcomings of existing
commercial products and to improve quality of life for patients with unmet
medical needs. The company’s SUBSYS drug has been approved for managing
breakthrough pain in cancer patients 18 years and older who are already
receiving and have become tolerant to opioid therapy. It is delivered via Insys’
proprietary sublingual spray technology and is the first and only breakthrough
pain medication for cancer patients to be offered as a sublingual spray. In
2016, the FDA also approved Syndros, the company’s dronabinol oral solution, for
anorexia-associated weight loss in AIDS patients and for nausea and vomiting in
chemotherapy patients. The Drug Enforcement Agency recently placed Syndros in
Schedule II of the Controlled Substances Act.
It is clear that many of the standout leaders within the marijuana market are
capitalizing on its performance in unique and innovative ways while promoting
corporate growth. These “hands-off” companies demonstrate the diverse
opportunities for the savvy investor looking to profit on the explosive
potential of the blooming marijuana market, but there is also opportunity for a
direct encounter.
Medical Marijuana (OTC: MJNA) is an innovative company that does handle the
cannabis plant, but in a unique way. MJNA has identified a means of working
within federal government restrictions on cannabis to legally provide
high-quality cannabis-derived products in the United States. The key is
non-psychoactive cannabinoids like cannabidiol (CBD), which has a wealth of
potential health applications without reliance on tetrahydrocannabinol (THC). By
growing low-THC varieties of cannabis—aka hemp—outside of the U.S., MJNA was
able to create CBD hemp oil and successfully import it into the U.S. CBD hemp
oil is a fully legal extract from carefully cultivated hemp plants and is
non-psychoactive, contains a full spectrum of phytocannabinoids, is high in CBD,
and contains almost no THC, which is why it can be legally sold in the U.S.
The company’s products, offered through the distribution divisions HempMeds and
Kannaway, include pure CBD hemp oil extracts, tinctures, sprays, capsules,
vaporizers, bath and body products, and even chewing gum. In addition to selling
CBD hemp oil products to more than 200,000 consumers in the U.S., MJNA has
additionally been able to offer the very first legal cannabis products in Brazil
and Mexico.
Sources:
(1) New Frontier Data: http://nnw.fm/2Gezn
For more information on Singlepoint please visit: SinglePoint, Inc. (OTC:
SING), or www.SinglePoint.com
About NetworkNewsWire
NetworkNewsWire (NNW) is an information service that provides to users (1)
access to our news aggregation and syndication servers, (2) enhanced press
release services, and (3) a full array of social communication solutions. As a
multifaceted financial news and content distribution company with an extensive
team of contributing journalists and writers, NNW is uniquely positioned to best
serve private and public companies that desire to reach a wide audience of
investors, consumers, journalists and the general public. NNW has an
ever-growing distribution network of more than 5,000 key syndication outlets
across the country. By cutting through the overload of information in today's
market, NNW brings its clients unparalleled visibility, recognition and brand
awareness. NNW is where news, content and information converge.
NetworkNewsWire (NNW)
New York, NY
www.NetworkNewsWire.com
212.418.1217 Office
Editor@NetworkNewsWire.com
Please see full terms of use and disclaimers on the NetworkNewsWire website
applicable to all content provided by NNW, wherever published or re-published:
http://NNW.fm/Disclaimer
DISCLAIMER: NetworkNewsWire (NNW) is the source of the Article and content set
forth above. References to any issuer other than the profiled issuer are
intended solely to identify industry participants and do not constitute an
endorsement of any issuer and do not constitute a comparison to the profiled
issuer. FN Media Group (FNM) is a third-party publisher and news dissemination
service provider, which disseminates electronic information through multiple
online media channels. FNM is NOT affiliated with NNW or any company mentioned
herein. The commentary, views and opinions expressed in this release by NNW are
solely those of NNW and are not shared by and do not reflect in any manner the
views or opinions of FNM. Readers of this Article and content agree that they
cannot and will not seek to hold liable NNW and FNM for any investment decisions
by their readers or subscribers. NNW and FNM and their respective affiliated
companies are a news dissemination and financial marketing solutions provider
and are NOT registered broker-dealers/analysts/investment advisers, hold no
investment licenses and may NOT sell, offer to sell or offer to buy any
security.
The Article and content related to the profiled company represent the personal
and subjective views of the Author, and are subject to change at any time
without notice. The information provided in the Article and the content has been
obtained from sources which the Author believes to be reliable. However, the
Author has not independently verified or otherwise investigated all such
information. None of the Author, NNW, FNM, or any of their respective
affiliates, guarantee the accuracy or completeness of any such information. This
Article and content are not, and should not be regarded as investment advice or
as a recommendation regarding any particular security or course of action;
readers are strongly urged to speak with their own investment advisor and review
all of the profiled issuer's filings made with the Securities and Exchange
Commission before making any investment decisions and should understand the
risks associated with an investment in the profiled issuer's securities,
including, but not limited to, the complete loss of your investment.
NNW & FNM HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.
This release contains "forward-looking statements" within the meaning of Section
27A of the Securities Act of 1933, as amended, and Section 21E the Securities
Exchange Act of 1934, as amended and such forward-looking statements are made
pursuant to the safe harbor provisions of the Private Securities Litigation
Reform Act of 1995. "Forward-looking statements" describe future expectations,
plans, results, or strategies and are generally preceded by words such as "may",
"future", "plan" or "planned", "will" or "should", "expected," "anticipates",
"draft", "eventually" or "projected". You are cautioned that such statements are
subject to a multitude of risks and uncertainties that could cause future
circumstances, events, or results to differ materially from those projected in
the forward-looking statements, including the risks that actual results may
differ materially from those projected in the forward-looking statements as a
result of various factors, and other risks identified in a company's annual
report on Form 10-K or 10-KSB and other filings made by such company with the
Securities and Exchange Commission. You should consider these factors in
evaluating the forward-looking statements included herein, and not place undue
reliance on such statements. The forward-looking statements in this release are
made as of the date hereof and NNW and FNM undertake no obligation to update
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Media Contact e-mail: FN Media Group, LLC - editor@financialnewsmedia.com
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News Source: NetworkNewsWire
SinglePoint Signs Reseller
Agreement for High Risk Merchant Processing
SEATTLE, WA / 05/09/17 /
SinglePoint, Inc. (OTC PINK: SING), has signed a new agreement enabling
the company to start onboarding 'high risk' merchant accounts. SinglePoint has
committed much time and resources to finding solutions for businesses that are
considered 'high risk'. Under this new agreement the company can now start
onboarding these businesses. Once a business is approved they will be able to
sell their products and services just as any other business does. This is
another big step in solidifying SinglePoint's position in the payments space.
The next milestone will be working to integrate this solution into the company's
Pay by Text solution.
Being able to process high risk accounts is a lucrative industry and company
executives believe this is not only a viable solution but a profitable one as
well. There are over 100 business types that are considered high risk including,
auctions, vape pen sales, gambling, online gaming and more. The cannabis
industry is projected to reach $24.5 billion by 2025. The company believes when
the banks do open and start accepting cannabis businesses they will start out as
a high-risk merchant.
Margins on the high-risk accounts are much larger than traditional accounts and
SinglePoint team believes it can utilize its existing relationships to quickly
onboard clients. The move helps position SinglePoint as a legitimate contender
in the industry.
The company is working on other payment solutions that will be available for all
businesses and is hopeful that development of the technology should be done in
the coming months. SinglePoint CEO, Greg Lambrecht, states, "We are providing
multiple solutions to the cannabis space and we are trying to do the same in the
payments space as well. Being able to offer a payment solution to multiple
different verticals gives the company a larger target market to tap into. We
believe high risk is a huge opportunity and an underserved market at this
point."
The solution offers approved merchants the ability to process payments instore,
online, through Point of Sale systems and soon through text message by way of
SinglePoint's Pay by Text technology.
About SinglePoint, Inc. SinglePoint, Inc. (SING) has grown from a full-service
mobile technology provider to a publicly traded holding company. Through
diversification into horizontal markets, SinglePoint is building its portfolio
by acquiring an interest in undervalued subsidiaries, thereby providing a rich,
diversified holding base. Through its subsidiary company SingleSeed the company
is providing products and services to the cannabis industry.
Connect on social media at: www.facebook.com/SinglePointMobile, www.twitter.com/_SinglePoint_,
www.linkedin.com/company/SinglePoint and www.youtube.com/user/SinglePointMobile
For more information visit www.SinglePoint.com or www.SingleSeed.com
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, 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.
Technical 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.
Contact: SinglePoint, Inc.
Greg Lambrecht
602.481.1544
Source: SinglePoint, Inc.
SinglePoint, Inc. Updates
Shareholders on Initiatives to Strengthen Corporate Value
SEATTLE, WA / 05/03/17 /
SinglePoint, Inc. (OTC PINK: SING), a holding company specialized in the
acquisition of small to mid-sized companies with an emphasis on new
technologies, today issues an update on current and future initiatives to
maximize corporate value and increase shareholder communication.
SinglePoint recently enhanced its corporate website, www.SinglePoint.com, to
provide investors a clear view of the company's endeavors and market value.
SinglePoint.com is designed to increase shareholder value by driving more
engagement for potential acquisitions and sales for the acquired companies.
Investors can sign up for updates by visiting http://ir.singlepoint.com/email-alerts,
and can access the latest research report on SinglePoint at
LAdavisandassociates.com
Through online marketing and key partnerships, SinglePoint plans to execute its
growth strategy to drive revenues through acquisitions and utilize inside sales
efforts to maintain a low overhead.
Greg Lambrecht, SinglePoint CEO, states, "This is an exciting time for
SinglePoint. We continue to increase value for our shareholders by focusing on
acquisitions while strengthening inside sales and fund raising. We expect 2017
to be a great year for SinglePoint and look forward to providing additional
updates on future acquisition targets, joint ventures, and new products."
SinglePoint also launched its cannabis brand subsidiary, www.SingleSeed.com, for
the online sale of cannabis products to cannabis dispensaries. To increase its
visibility, SingleSeed.com also provides a list of upcoming tradeshows it will
attend and offers an interactive Cannabis Laws Map to serve as a hub of
information on cannabis laws in each state. Leveraging key distribution
agreements and a highly-integrated marketing plan, SingleSeed is expected to
drive significant sales this year.
"The long-term vision is to build SingleSeed.com into a market-place for
dispensaries to buy the products they need to do business," says Lambrecht.
"SingleSeed will also provide consulting services to cannabis businesses who
need help gaining traction and success in their strategies."
SinglePoint is currently in negotiations for more acquisition in the cannabis
space, a market expected to reach $24.5 billion by the year 2025. The company
recently funded Convectium, the developer of a unique oil filling machine and a
leader in the cannabis market space. Convectium sells a line of products on its
website, www.Convectium.com, and sells its industry leading machines at
710shark.com. The machine will soon be available on SingleSeed.com as well.
"We are pleased to provide these updates to our shareholders, and look forward
to announcing progress on additional initiatives such as acquisitions,
development of mobile applications, and additional payment processing options,"
says Lambrecht. "We have built a foundation of growth for 2017 and look forward
to watching it take root."
Previously Greg Lambrecht, as the founder and largest shareholder, took PCI, a
distribution company to the NASDAQ on a $10,000,000 IPO. His distribution
experience is a major competitive advantage to place the company's products in
stores throughout the nation.
About SinglePoint, Inc. SinglePoint, Inc. (SING) has grown from a full-service
mobile technology provider to a publicly traded holding company. Through
diversification into horizontal markets, SinglePoint is building its portfolio
by acquiring an interest in undervalued subsidiaries, thereby providing a rich,
diversified holding base. Through its subsidiary company SingleSeed the company
is providing products and services to the cannabis industry.
Connect on social media at: www.facebook.com/SinglePointMobile, http://www.twitter.com/_SinglePoint_,
www.linkedin.com/company/SinglePoint and www.youtube.com/user/SinglePointMobile
For more information visit www.SinglePoint.com or www.SingleSeed.com
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, 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.
Technical 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.
Contact:
SinglePoint, Inc.
Greg Lambrecht
602.481.1544
Source: SinglePoint, Inc.
After Ten Thousand Years and
Countless Uses, Cannabis Still Has a Bright Future
New York, NY – April 19, 2017 –
NetworkNewsWire.com News
Coverage: When George Washington cultivated cannabis at his estate in
Mt. Vernon, he was continuing a tradition that dates back 10,000 years. There
are indications that cannabis
sativa,
grown as hemp, was farmed for its fiber content in Neolithic times. Since then,
numerous uses have been discovered. As hemp, the plant has furnished a variety
of commercial and industrial products. Hemp seeds are also edible, as they are
high in protein and are a rich source of vitamins, minerals and dietary fiber.
And with 483 distinct chemical compounds, 66 of which are cannabinoids, the uses
to which cannabis can be put are still being discovered. The future looks bright
to SinglePoint, Inc. (OTC:
SING), GW Pharmaceuticals (NASDAQ: GWPH), American Cannabis Company
(OTC: AMMJ), AeroGrow International, Inc. (OTC: AERO) and MassRoots, Inc. (OTC:
MSRT), a roster of companies who are reading those cannabis leaves and betting
on their potential.
SinglePoint, Inc. (OTC:
SING) grew out of a text messaging and mobile payments business and has
embarked on a strategy of acquiring small to mid-sized companies that offered
mobile technologies. While initially focused on operating a mobile commerce and
communications platform for vendors who wanted to accept mobile credit card
payments, about two years ago SinglePoint began focusing on how to apply its
mobile payments and merchant processing solutions to medical marijuana
dispensaries.
Today, its POS terminals have the potential to allow patients and patrons of
marijuana establishments to use their debit cards to make purchases. Now that
seven of the eight marijuana initiatives on the November 8 ballot have
succeeded, including those in California and Florida, the company is reviving
its strategies to court marijuana dispensaries and recreational shops.
As it continues its acquisition strategy, SinglePoint is, however, playing it
safe by only targeting businesses that do not ‘touch the plant.’ An example is
the stake taken recently in the Jacksam Corp., doing business as Convectium, a
profitable California-based provider of equipment, branding and packaging
solutions for the cannabis industry.
Convectium has developed ‘the world’s first’ oil-filling system for cartridges
and disposable vape pens for wholesale distribution to dispensaries. The
company’s 710Shark and 710Seal system can fill and package 100+ cartridges or
disposable vape pens in 30 seconds, making it the fastest filling and sealing
system of its kind. With a market that extends to over 52 countries, Convectium
expects 2017 revenues to continue to increase year over year.
Its treasure trove of close to 500 substances makes cannabis as close to being a
panacea as ever existed. Each unique compound in the plant has, no doubt, some
medicinal or other practical application. Pioneering outfit GW Pharmaceuticals
(NASDAQ: GWPH) (LSE: GWP) has already exploited that possibility by bringing to
market a product based on the two main cannabinoids: tetrahydrocannabinol (THC)
and cannabidiol (CBD). Sativex, as it is known, is an oromucosal spray that has
been approved by regulatory authorities in 29 countries to treat spasticity due
to multiple sclerosis (MS), with astounding success. GW Pharmaceuticals is now
exploring the use of other cannabinoids to treat a variety of serious unmet
medical needs such as those related to autism and schizophrenia. Its present
lead candidate is Epidiolex, which is currently being tested to treat certain
rare and severe early-onset, drug-resistant epilepsy syndromes.
Like SinglePoint, The American Cannabis Company (OTCQB: AMMJ) employs a “hands
off” approach by offering “end-to-end” solutions to existing and aspiring
participants in the cannabis industry. AMMJ provides business planning and
market assessment services and will assist with state licensing procurement,
creation of business infrastructure and operational best practices. The company
also has a line of branded products that include The Satchel, a child-resistant
pouch, SoHum Living Soils, the Cultivation Cube and a High Density Cultivation
System.
Meanwhile in Boulder, Colorado, AeroGrow International (OTCQB: AERO) is
promoting its expertise in aeroponic garden systems to the cannabis crowd. The
company has been marketing its indoor garden line under the Miracle-Gro
AeroGarden brand since it entered into a strategic alliance with Scotts Miracle-Gro.
Although not advertised as such, the AeroGarden system is widely used to grow
cannabis at home. Sales are on track to almost double from $19.6 million in FY
2016 to $35 million in FY 2017.
And in the cybersphere, MassRoots (OTCQB: MSRT) has registered more than 1
million users on its platform that enables consumers to rate products and
strains of cannabis based on their efficacy and then present that information in
easy-to-use formats for consumers to make educated purchasing decisions at their
local dispensary.
From these developments, it looks like cannabis will be around for quite some
time to come.
For more information on Singlepoint visit: SinglePoint, Inc. (OTC:
SING) or www.SinglePoint.com
About NetworkNewsWire
NetworkNewsWire (NNW) is an information service that provides to users (1)
access to our news aggregation and syndication servers, (2) enhanced press
release services, and (3) a full array of social communication solutions. As a
multifaceted financial news and content distribution company with an extensive
team of contributing journalists and writers, NNW is uniquely positioned to best
serve private and public companies that desire to reach a wide audience of
investors, consumers, journalists and the general public. NNW has an
ever-growing distribution network of more than 5,000 key syndication outlets
across the country. By cutting through the overload of information in today's
market, NNW brings its clients unparalleled visibility, recognition and brand
awareness. NNW is where news, content and information converge.
http://www.NetworkNewsWire.com
Please see full terms of use and disclaimers on the NetworkNewsWire website
applicable to all content provided by NNW, wherever published or re-published:
http://NNW.fm/Disclaimer
DISCLAIMER: NetworkNewsWire (NNW) is the source of the Article and content set
forth above. References to any issuer other than the profiled issuer are
intended solely to identify industry participants and do not constitute an
endorsement of any issuer and do not constitute a comparison to the profiled
issuer. FN Media Group (FNM) is a third-party publisher and news dissemination
service provider, which disseminates electronic information through multiple
online media channels. FNM is NOT affiliated with NNW or any company mentioned
herein. The commentary, views and opinions expressed in this release by NNW are
solely those of NNW and are not shared by and do not reflect in any manner the
views or opinions of FNM. Readers of this Article and content agree that they
cannot and will not seek to hold liable NNW and FNM for any investment decisions
by their readers or subscribers. NNW and FNM and their respective affiliated
companies are a news dissemination and financial marketing solutions provider
and are NOT registered broker-dealers/analysts/investment advisers, hold no
investment licenses and may NOT sell, offer to sell or offer to buy any
security.
The Article and content related to the profiled company represent the personal
and subjective views of the Author, and are subject to change at any time
without notice. The information provided in the Article and the content has been
obtained from sources which the Author believes to be reliable. However, the
Author has not independently verified or otherwise investigated all such
information. None of the Author, NNW, FNM, or any of their respective
affiliates, guarantee the accuracy or completeness of any such information. This
Article and content are not, and should not be regarded as investment advice or
as a recommendation regarding any particular security or course of action;
readers are strongly urged to speak with their own investment advisor and review
all of the profiled issuer's filings made with the Securities and Exchange
Commission before making any investment decisions and should understand the
risks associated with an investment in the profiled issuer's securities,
including, but not limited to, the complete loss of your investment.
NNW & FNM HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.
This release contains "forward-looking statements" within the meaning of Section
27A of the Securities Act of 1933, as amended, and Section 21E the Securities
Exchange Act of 1934, as amended and such forward-looking statements are made
pursuant to the safe harbor provisions of the Private Securities Litigation
Reform Act of 1995. "Forward-looking statements" describe future expectations,
plans, results, or strategies and are generally preceded by words such as "may",
"future", "plan" or "planned", "will" or "should", "expected," "anticipates",
"draft", "eventually" or "projected". You are cautioned that such statements are
subject to a multitude of risks and uncertainties that could cause future
circumstances, events, or results to differ materially from those projected in
the forward-looking statements, including the risks that actual results may
differ materially from those projected in the forward-looking statements as a
result of various factors, and other risks identified in a company's annual
report on Form 10-K or 10-KSB and other filings made by such company with the
Securities and Exchange Commission. You should consider these factors in
evaluating the forward-looking statements included herein, and not place undue
reliance on such statements. The forward-looking statements in this release are
made as of the date hereof and NNW and FNM undertake no obligation to update
such statements.
Media Contact e-mail: FN Media Group, LLC - editor@financialnewsmedia.com
(954)345-0611
News Source: NetworkNewsWire
Marijuana Industry Growth
Fueled by Investments and Public Support for Legalization
New York, NY – April 12, 2017 –
NetworkNewsWire.com News
Coverage: The number of states in which the medical and recreational
use of marijuana is legal continues to grow. Medical marijuana is now permitted
in 28 states and Washington D.C. Last year, the North American legal marijuana
industry grew to $6.7 billion, a 34 percent increase in just one year,
according
to Arcview Market Research. With the black market included, sales topped $56
billion. Public support is increasing as well – 57 percent of Americans
supported the legalization of marijuana in 2016, up from 52 percent in 2014(1).
With the market expanding and public support increasing, there are more
opportunities to invest than ever before. SinglePoint, Inc. (OTC:
SING), The Scotts Miracle-Gro Company (NYSE: SMG), General Cannabis
Corp. (OTC: CANN), Terra Tech Corp. (OTC: TRTC) and Kush Bottles, Inc. (OTC:
KSHB) are just a few companies with major investments in the growing legal
marijuana industry.
Focused on the acquisition of small- to medium-sized technology companies,
SinglePoint, Inc. (OTC:
SING) has an acquisition portfolio with roots in the cannabis industry.
Most recently, the company acquired a stake in Convectium, the developer of a
unique oil filling and packaging system for cartridges and vape pens. The
710Shark oil filling machine and 710Seal system increase cartridge and vape
device output by more than 100x. Eliminating hand filling, the system can fill
100 cartridges in less than 20 seconds, allowing for up to 300 cartridges or
disposable pens to be filled every minute. A dual injection system is heated up
to 125°C, making the machine capable of handling the thickest of oils. With a
growing market presence and consumer demand, Convectium expects its revenue will
increase 150 percent in 2017 compared to the year prior.
SinglePoint also owns and runs the www.SingleSeed.com web portal, a go-to
resource for dispensaries looking to obtain state-of-the-art equipment. The
website offers a variety of solutions that cannabis companies can use to grow
their own businesses, as well as a thriving blog and online community forum.
The thriving cannabis industry is also benefitting The Scotts Miracle-Gro
Company (NYSE: SMG). In its better-than-expected 1Q results announced in
January, the company noted strength in consumer demand, which played out
particularly well in its hydroponics business. U.S. consumer sales for the first
quarter increased 11 percent to $126 million.
“Hawthorne had a solid quarter too, benefiting from both organic unit growth, as
well as continued M&A activity. And as most of you know, the marketplace
continues to expand for Hawthorne as more states change their laws to authorize
cannabis growing. These
and other tailwinds leave the brands we've acquired well-positioned for
continued success. … since the birth of Hawthorne, we've become even more
encouraged by the growth opportunities that exist in hydroponics. The
acquisition in the past 24 months of three of the most important brands in
hydroponic growing presents new opportunities for us and our shareholders,”
company CEO Jim Hagedorn said in an earnings call(2) transcribed by Seeking
Alpha. Based on growth in its core U.S. business and “continued momentum” from
Hawthorne’s hydroponic portfolio, Scotts said it expects EPS for fiscal 2017
between $4.10 and $4.30 on sales growth of 6-7 percent.
General Cannabis (OTCQB: CANN) has reported a surge in business too. For Q4
2016, the company reported 69 percent year-over-year revenue growth and noted
that legalized recreational use of marijuana provides the company “tremendous
opportunity” for significant expansion in 2017. General Cannabis said (http://nnw.fm/l8xhZ)
it is exploring acquisition opportunities in “all areas of regulated cannabis”
and plans on launching a marketing and advertising agency focused on the
marijuana industry. The company has financing, security, real estate,
distribution and consulting divisions, in addition to a focus on the production
and retail sides of the business.
Cannabis agriculture company Terra Tech (OTCQX: TRTC) has zeroed in on the
medical markets, and it reported total revenue in 2016 of more than $25 million,
up 154 percent over 2015. The company specializes in sales and marketing of
hydroponic equipment, and it sells locally grown hydroponic produce, herbs and
floral products through its Edible Garden subsidiary. This co-op of farmers
across the U.S. is growing rapidly, and each farmer grows, packs and ships their
hydroponic, non-GMO produce to supermarkets around the country. In addition,
several other Terra Tech subsidiaries operate medical marijuana cultivation,
production and dispensary facilities in Nevada.
Kush Bottles (OTCQB: KSHB) has also seen its packaging, supplies, and
accessories business boom. The company plans to move its headquarters to Garden
Grove, California, on July 1, 2017, to a warehouse that is quadruple the size of
its previous building. Responding to a growing customer base, Kush Bottles plans
to add new services, which will be supported by the expanded floor space that
will be available. Serving mostly the business-to-business market, Kush Bottles
currently has over 3,000 customers (including dispensaries, growers, and
manufacturers) in the U.S. and Canada. Like many others investing in the
marijuana industry, the company is not directly involved with cannabis plants or
extracts sought by end users.
While many states permit the production, distribution, sale and use of marijuana
and related products, cannabis is still illegal per federal law. Even
state-legal marijuana businesses may be the subject of federal crack downs, and
many fear the Drug Enforcement Administration may act against them at any time.
However, as the marijuana industry grows with mounting public support, companies
like SinglePoint are seeing new investment opportunities and increasing revenue.
The influencing factors are not only coming from the American public, but other
countries as well. Canada, for example, is quickly moving toward nationwide
legalization of recreational marijuana(3) – the success of which would make it
the second country to do so after Uruguay. The move could influence the U.S.
federal government’s position on cannabis. The legalization of medical and
recreational marijuana is opening the door for new business and investment
opportunities on many different fronts – for both businesses and investors.
Editorial Sources:
(1) General Social Survey: http://nnw.fm/fFV9M
(2) Seeking Alpha: http://nnw.fm/hO0XJ
(3) Times: http://nnw.fm/Yo7RR
For more information on Singlepoint please visit: SinglePoint, Inc. (OTC:
SING) or www.SinglePoint.com
About NetworkNewsWire
NetworkNewsWire (NNW) provides news aggregation and syndication, enhanced press
release services and a full array of social communication solutions. As a
multifaceted financial news and distribution company with an extensive team of
contributing journalists and writers, NNW is uniquely positioned to best serve
private and public companies that desire to reach a wide audience of investors,
consumers, journalists and the general public. NNW has an ever-growing
distribution network of more than 5,000 key syndication outlets across the
country. By cutting through the overload of information in today’s market, NNW
brings its clients unparalleled visibility, recognition and brand awareness. NNW
is where news, content and information converge.
NetworkNewsWire (NNW)
New York, NY
www.NetworkNewsWire.com
Please see full disclaimers on the NetworkNewsWire website applicable to all
content provided by NNW, wherever published or re-published:
http://NNW.fm/Disclaimer
DISCLAIMER: NetworkNewsWire (NNW) is a source of content listed above.
References to any issuer other than the profiled issuer are intended solely to
identify industry participants and do not constitute an endorsement of any
issuer or comparison to the profiled issuer. FN Media Group, LLC (FNM), is a
third-party publisher and news dissemination service provider, which
disseminates electronic information through multiple online media channels. FNM
is NOT affiliated with NNW or any company mentioned herein. The commentary,
views and opinions expressed in this release by NNW are solely those of NNW and
are not shared by and do not reflect in any manner the views or opinions of FNM.
Readers of this content agree that they cannot and will not seek to hold liable
NNW and FNM for any investment decisions by their readers or subscribers. FNM
and its affiliated companies are a news dissemination and financial marketing
solutions provider and are NOT a registered broker-dealer/analyst/adviser, hold
no investment licenses and may NOT sell, offer to sell or offer to buy any
security. FNM was not compensated by any public company mentioned herein to
disseminate this press release. NNW’s compensation disclosure is incorporated
herein and appears in full at
http://NNW.fm/Disclaimer
NNW & FNM HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.
This release contains "forward-looking statements" within the meaning of Section
27A of the Securities Act of 1933, as amended, and Section 21E the Securities
Exchange Act of 1934, as amended and such forward-looking statements are made
pursuant to the safe harbor provisions of the Private Securities Litigation
Reform Act of 1995. "Forward-looking statements" describe future expectations,
plans, results, or strategies and are generally preceded by words such as "may",
"future", "plan" or "planned", "will" or "should", "expected," "anticipates",
"draft", "eventually" or "projected". You are cautioned that such statements are
subject to a multitude of risks and uncertainties that could cause future
circumstances, events, or results to differ materially from those projected in
the forward-looking statements, including the risks that actual results may
differ materially from those projected in the forward-looking statements as a
result of various factors, and other risks identified in a company's annual
report on Form 10-K or 10-KSB and other filings made by such company with the
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Media Contact e-mail: FN Media Group, LLC - editor@financialnewsmedia.com
(954)345-0611
News Source: NetworkNewsWire
Marijuana Market Offers
Variety of Investment Options and Consistent, Long-Lasting Growth Potential
New York, NY – April 5, 2017 –
NetworkNewsWire.com News Coverage:
With the North American cannabis market boasting an estimated worth of $7.2
billion in 2016, and new reports projecting CAGR of between 17 percent and 25
percent
within the next few years, it's certainly an exciting time to invest in the
marijuana market. Investment opportunities are abundant and diverse with
companies like SinglePoint, Inc. (OTC:
SING), Innovative Industrial Properties Inc. (NYSE: IIPR), Insys
Therapeutics Inc. (NASDAQ: INSY), MassRoots Inc. (OTC: MSRT) and Axim
Biotechnologies Inc. (OTC: AXIM).
The marijuana market is on fire for more reasons than one. First, there's the
huge potential for financial growth. A recent report from New Frontier Data
estimates that medical marijuana sales in the United States will increase to
$13.3 billion in 2020, and adult recreational marijuana sales are projected to
grow to $11.2 billion by the same year. Then, there is the potential for massive
job-creation. The same New Frontier Data report estimates that over a quarter of
a million jobs will be created within the legal marijuana market by 20201.
A report from leading cannabis market research publisher Arcview Market Research
has compared the marijuana market's explosive growth to the cable television
boom of the 1990s and the broadband Internet takeoff of the 2000s. Statements
issued by Arcview predict the legalization of marijuana in a significant number
of countries within the next decade-and-a-half, crediting the cannabis industry
with the most consistent and long-term growth potential the world has ever
seen2.
The possibilities and opportunities are virtually endless within the legalized
marijuana market. The business plan of one innovative company, SinglePoint,
Inc. (OTC:
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. SinglePoint CEO Greg Lambrecht in a
recent Forbes article3 highlighted the possibility of change under the Trump
Administration.
"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,"
stated Lambrecht.
Meanwhile, the SingleSeed.com website is a prime resource for marijuana
dispensaries that are seeking merchant payment processing solutions and other
business tools.
SinglePoint also recently acquired an interest in the California-based
Convectium, a profitable provider of equipment, branding and packaging solutions
for the cannabis industry. Convectium is the developer of the first-ever
cartridge and vape pen oil filling machines created for wholesale distribution
to marijuana dispensaries. The company's 710Shark and 710Seal machines are able
to fill and package more than 100 cartridges or disposable vape pens in 30
seconds. These machines are sold to dispensaries through the EquipCanna.com
brand. Convectium further operates a consumer brand that includes BlackoutX and
HazeSticks and reaches customers in more than 52 countries.
This diversified, “hands-off” approach shields SinglePoint against any legal
repercussions, should the federal government surprise with a clampdown on the
marijuana industry.
“There’s no reason why they would ever come after us. We provide all of the
products these dispensaries need to do business, but we don’t touch the plant,” Lambrecht told The Hill4.
Another company geared up to capitalized on the legalized marijuana boom, also
without touching the plant, is Innovative Industrial Properties Inc. (NYSE: IIPR).
IIPR specializes in acquiring freestanding properties that are used for
cultivating licensed medical marijuana and that are operated by state-licensed
growers. Once acquired, these properties are leased back to the growers under
long-term, net lease agreements. This acquisition strategy acts as a source of
capital to these growers. When they sell their real estate locations to IIPR and
then lease them back from the company, the growers have an opportunity to
redeploy those proceeds into their core operations, thereby yielding a higher
return than they would get from owning their real estate.
Also tapping into the cannabis market in an outside-the-box way is MassRoots
Inc. (OTCQB: MSRT). MassRoots is a leading technology platform for the marijuana
industry. The registered users – currently numbered at over 1 million - can rate
cannabis products and strains according to their effectiveness. MassRoots then
offers this information in simple-to-use formats to help consumers make informed
purchasing decisions at their local marijuana dispensaries.
Cashing in on the medical applications of legalized marijuana is Insys
Therapeutics Inc. (NASDAQ: INSY). This specialty pharmaceutical company is
focused on addressing the clinical inadequacies of existing commercial products
through its proprietary sublingual spray technology and its pharmaceutical
cannabinoids development capability. Insys is currently marketing two products.
The first is Subsys, which is a sublingual Fentanyl spray for breakthrough
cancer pain; the second is a generic version of Dronabinol (THC) capsules.
Axim Biotechnologies Inc. (OTCQB: AXIM) is also taking a medical approach in the
cannabis market, focusing on researching, developing and producing cannabinoid-based
pharmaceuticals and supplements. Axim owns the patent for using chewing gum as a
cannabinoid delivery method and has developed two chewing gum-based products.
The company's cannabidiol (CBD)-only Canchew gum is being marketed as a dietary
supplement. AXIM will also soon commence phase 3 clinical trials for the
combination CBD/THC gum MedChew RX, which is used to treat pain and spasticity
associated with multiple sclerosis.
As the marijuana industry blazes forward, it's clear that opportunities and
applications in the cannabis market are plentiful. Innovative companies like
SinglePoint.com and others mentioned offer prime investment opportunities for
those looking to capitalize in the rapidly growing marijuana field
Editorial Sources:
(1) Forbes: http://nnw.fm/N283c
(2) Business Insider: http://nnw.fm/yJan6
(3) Forbes: http://nnw.fm/AYj12
(4) The Hill: http://nnw.fm/R7A9h
For more information on Singlepoint visit:
Singlepoint, Inc. (SING) or
www.SinglePoint.com
About NetworkNewsWire
NetworkNewsWire (NNW) provides news aggregation and syndication, enhanced press
release services and a full array of social communication solutions. As a
multifaceted financial news and distribution company with an extensive team of
contributing journalists and writers, NNW is uniquely positioned to best serve
private and public companies that desire to reach a wide audience of investors,
consumers, journalists and the general public. NNW has an ever-growing
distribution network of more than 5,000 key syndication outlets across the
country. By cutting through the overload of information in today’s market, NNW
brings its clients unparalleled visibility, recognition and brand awareness. NNW
is where news, content and information converge.
NetworkNewsWire (NNW)
New York, NY
www.NetworkNewsWire.com
Please see full disclaimers on the NetworkNewsWire website applicable to all
content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
DISCLAIMER: NetworkNewsWire (NNW) is a source of content listed above.
References to any issuer other than the profiled issuer are intended solely to
identify industry participants and do not constitute an endorsement of any
issuer or comparison to the profiled issuer. FN Media Group, LLC (FNM), is a
third-party publisher and news dissemination service provider, which
disseminates electronic information through multiple online media channels. FNM
is NOT affiliated with NNW or any company mentioned herein. The commentary,
views and opinions expressed in this release by NNW are solely those of NNW and
are not shared by and do not reflect in any manner the views or opinions of FNM.
Readers of this content agree that they cannot and will not seek to hold liable
NNW and FNM for any investment decisions by their readers or subscribers. FNM
and its affiliated companies are a news dissemination and financial marketing
solutions provider and are NOT a registered broker-dealer/analyst/adviser, hold
no investment licenses and may NOT sell, offer to sell or offer to buy any
security. FNM was not compensated by any public company mentioned herein to
disseminate this press release. NNW’s compensation disclosure is incorporated
herein and appears in full at http://NNW.fm/Disclaimer
NNW & FNM HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.
This release contains "forward-looking statements" within the meaning of Section
27A of the Securities Act of 1933, as amended, and Section 21E the Securities
Exchange Act of 1934, as amended and such forward-looking statements are made
pursuant to the safe harbor provisions of the Private Securities Litigation
Reform Act of 1995. "Forward-looking statements" describe future expectations,
plans, results, or strategies and are generally preceded by words such as "may",
"future", "plan" or "planned", "will" or "should", "expected," "anticipates",
"draft", "eventually" or "projected". You are cautioned that such statements are
subject to a multitude of risks and uncertainties that could cause future
circumstances, events, or results to differ materially from those projected in
the forward-looking statements, including the risks that actual results may
differ materially from those projected in the forward-looking statements as a
result of various factors, and other risks identified in a company's annual
report on Form 10-K or 10-KSB and other filings made by such company with the
Securities and Exchange Commission. You should consider these factors in
evaluating the forward-looking statements included herein, and not place undue
reliance on such statements. The forward-looking statements in this release are
made as of the date hereof and NNW & FNM undertakes no obligation to update such
statements.
Media Contact e-mail: FN Media Group, LLC - editor@financialnewsmedia.com
(954)345-0611
News Source: NetworkNewsWire
Marijuana Legalization Could
Encourage Widespread Economic Benefits
New York, NY – March 29, 2017 –
NetworkNewsWire.com News Coverage:
There are a number of advantages to society and the public safety in regulating
marijuana, but economic arguments also favor its legalization. The benefits
include
increased
tax revenues, job creation, and reduced law enforcement costs. However, to
legalize and regulate marijuana requires an ecosystem of support services like
those provided by SinglePoint, Inc. (OTC:
SING), American Cannabis Company (OTC: AMMJ), Kush Bottles, Inc. (OTC:
KSHB), mCig, Inc. (OTC: MCIG) and Terra Tech Corp. (OTC: TRTC).
As a job-creating engine, the industry will be a super powerful diesel.
Reporting on recently released data from New Frontier Data, Forbes relates
industry analyst projections that “by 2020 the legal cannabis market will create
more than a quarter of a million jobs.” These projections are modest, based only
on markets in the 29 jurisdictions that have legalized medical marijuana and the
10 others that have legalized recreational marijuana.
An industry with this potential requires strong, innovative spokes that support
broader growth and opportunity. One such innovator is SinglePoint, Inc. (OTC:
SING), which, through its SingleSeed Payments subsidiary, stands at the
ready to make the New Frontier Data forecasts a reality by offering payment
solutions to the cannabis industry. Its mobile marketing and payment solutions
include cashless ATM, Pay-by-Text™ and text message marketing, while the
SingleSeed.com website is designed as a go-to for dispensaries in need of
merchant payment processing solutions and other business tools.
“The cannabis industry is on the cusp of unprecedented liberties, and we are
optimistic that as more states vote to legalize the drug, policymakers will have
to take a second look at how banks will be involved in payment processing. When
the industry becomes bankable, we will already be in on the action as a ‘first
mover’ with mobile technology to revolutionize the cannabis merchant processing
business,” SinglePoint CEO Greg Lambrecht stated in a press release.
Collaborating with its technology partners, SingleSeed is developing a marketing
program specifically designed for cannabis
accounts, enabling consumers to use their credit and debit cards to make mobile
payments for cannabis purchases.
SingleSeed recently made a significant advancement in its broader strategy to
strengthen its presence in the cannabis industry when it acquired a stake in
Jacksam Corp., dba Convectium, the developer of a unique oil filling system for
the cannabis industry. The investment in Convectium will help fund the company’s
growth, as well as the marketing of its revolutionary 710Shark and 710Seal oil
filling system. Convectium projects full-year 2017 sales of $3.5 million, which
would represent a year-over-year increase of 150 percent, and it is already on
pace to meet this goal, as first quarter sales significantly surpassed sales in
the first quarter of last year.
Another key cannabis player is American Cannabis Company (OTCQB: AMMJ), which
last week announced that it had secured its first client in the Canadian
province of Alberta. AMMJ provides consulting services to cannabis businesses.
The company will be working with this client to strategically plan business
operations, as well as to develop a robust financial model that will serve as a
foundation for license acquisition. AMMJ will also be involved in conceptual
design work for cultivation and manufacturing facilities for the client.
Kush Bottles (OTCQB: KSHB) in early May added new distribution partners in
Hawaii and Puerto Rico, two key medical cannabis markets. Both agreements
include ‘reciprocity clauses’ that allow sales to patients with valid medical
marijuana cards who are visiting from other states. Both Puerto Rico and Hawaii
are frequent holiday destinations for U.S. mainland tourists. According to the
Hawaii Department of Business, Economic Development and Tourism, Hawaii had
approximately 9 million tourist visits in 2016. Kush provides packaging,
supplies, accessories and branding solutions for the regulated cannabis
industry.
In Nevada, mCig, Inc. (OTCQB: MCIG), through its lifestyle brands, services the
legal cannabis, hemp and cannabidiol (CBD) markets. Originally a vaporizer
manufacturer, the company has expanded to become a large-scale, full-service
cannabis cultivation construction company and hemp-based CBD market supplier.
mCig recently reported a 446 percent increase in third-quarter revenue to $1.3
million and recapped a busy quarter of achievements that include its first
construction project and the expansion of its Grow Contractors brand into
Oregon, where it is constructing a new facility.
Terra Tech (OTCQX: TRTC) is a vertically-integrated, cannabis-focused
agriculture company that operates through several subsidiaries focused on
individual niches of the cannabis industry. Its brands include IVXX, Inc., which
produces medical cannabis-extracted products for regulated medical cannabis
dispensaries throughout California. The company’s Edible Garden subsidiary
cultivates a premier brand of local and sustainably-grown hydroponic produce
sold through major grocery stores such as ShopRite, Walmart, Winn-Dixie, Raley's,
Meijer, Kroger, and others. Focused on the medicinal side, Terra Tech’s Blüm
brand operates retail medical cannabis facilities focused on providing the
highest quality medical cannabis to patients who are looking for alternative
treatments for their chronic medical conditions. Blüm offers a broad selection
of medical cannabis products, including flowers, concentrates and edibles,
through its Oakland, California, and multiple Nevada locations. Terra Tech's MediFarm LLC subsidiaries focus on medical cannabis cultivation and permitting
businesses throughout Nevada, while its GrowOp Technology subsidiary specializes
in controlled environment agricultural technologies.
The marijuana industry is budding with opportunity in the fields of medicine,
retail, edibles and numerous other applications. Visionary companies like
SinglePoint and the others mentioned above recognize the value of their
innovations and how a regulated industry would benefit their operations,
shareholders and the broader economy.
Sources: http://nnw.fm/n7F3m
For more information on SinglePoint, Inc. (OTC:
SING) please visit: SinglePoint, Inc. (OTC:
SING)
About NetworkNewsWire
NetworkNewsWire (NNW) provides news aggregation and syndication, enhanced press
release services and a full array of social communication solutions. As a
multifaceted financial news and distribution company with an extensive team of
contributing journalists and writers, NNW is uniquely positioned to best serve
private and public companies that desire to reach a wide audience of investors,
consumers, journalists and the general public. NNW has an ever-growing
distribution network of more than 5,000 key syndication outlets across the
country. By cutting through the overload of information in today’s market, NNW
brings its clients unparalleled visibility, recognition and brand awareness. NNW
is where news, content and information converge.
NetworkNewsWire (NNW)
New York, New York
www.NetworkNewsWire.com
Please see full disclaimers on the NetworkNewsWire website applicable to all
content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
DISCLAIMER: NetworkNewsWire (NNW) is a source of content listed above.
References to any issuer other than the profiled issuer are intended solely to
identify industry participants and do not constitute an endorsement of any
issuer or comparison to the profiled issuer. FN Media Group, LLC (FNM), is a
third-party publisher and news dissemination service provider, which
disseminates electronic information through multiple online media channels. FNM
is NOT affiliated with NNW or any company mentioned herein. The commentary,
views and opinions expressed in this release by NNW are solely those of NNW and
are not shared by and do not reflect in any manner the views or opinions of FNM.
Readers of this content agree that they cannot and will not seek to hold liable
NNW and FNM for any investment decisions by their readers or subscribers. FNM
and its affiliated companies are a news dissemination and financial marketing
solutions provider and are NOT a registered broker-dealer/analyst/adviser, hold
no investment licenses and may NOT sell, offer to sell or offer to buy any
security. FNM was not compensated by any public company mentioned herein to
disseminate this press release. NNW’s compensation disclosure is incorporated
herein and appears in full at http://NNW.fm/Disclaimer
NNW & FNM HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.
This release contains "forward-looking statements" within the meaning of Section
27A of the Securities Act of 1933, as amended, and Section 21E the Securities
Exchange Act of 1934, as amended and such forward-looking statements are made
pursuant to the safe harbor provisions of the Private Securities Litigation
Reform Act of 1995. "Forward-looking statements" describe future expectations,
plans, results, or strategies and are generally preceded by words such as "may",
"future", "plan" or "planned", "will" or "should", "expected," "anticipates",
"draft", "eventually" or "projected". You are cautioned that such statements are
subject to a multitude of risks and uncertainties that could cause future
circumstances, events, or results to differ materially from those projected in
the forward-looking statements, including the risks that actual results may
differ materially from those projected in the forward-looking statements as a
result of various factors, and other risks identified in a company's annual
report on Form 10-K or 10-KSB and other filings made by such company with the
Securities and Exchange Commission. You should consider these factors in
evaluating the forward-looking statements included herein, and not place undue
reliance on such statements. The forward-looking statements in this release are
made as of the date hereof and NNW & FNM undertakes no obligation to update such
statements.
Media Contact e-mail: FN Media Group, LLC - editor@financialnewsmedia.com
(954)345-0611
News Source: NetworkNewsWire
Mixed Marijuana Messages from
Trump Administration Make Diversification
Imperative
New York, NY – March 22, 2017 –
NetworkNewsWire.com News Coverage:
Deciphering marijuana policy under the Trump Administration can be difficult,
given differing statements by White House officials. Federal laws are at odds
with a number of states that have legalized marijuana for medical and/or
recreational use, and businesses like SinglePoint, Inc.
(OTC:
SING) Corbus Pharmaceuticals Holdings, Inc. (NASDAQ: CRBP),
Medical Marijuana, Inc. (OTC: MJNA), Cannabis Science, Inc. (OTC: CBIS) and
ChineseInvestors.com, Inc. (OTC: CIIX) (CIIX
Profile) operate in a manner that hedges them against certain risks of
federal prohibition.
On the campaign trail, then-candidate Donald Trump said of medical marijuana on
Fox News: “I'm in favor of it a hundred percent.” With regard to the
recreational use of marijuana, his stated preference was to leave it up to each
state. At a briefing on February 23, however, Press Secretary Sean Spicer noted
that President Trump sees “a big difference” between the use of marijuana for
medical and recreational purposes, leaving many wondering about a federal
crackdown.
Additionally, Attorney General Jeff Sessions on March 15, 2017, at a meeting of
law enforcement personnel in Virginia, said: “I reject the idea that America
will be a better place if marijuana is sold in every corner store. And I am
astonished to hear people suggest that we can solve our heroin crisis by
legalizing marijuana.”
The AG went on to say that marijuana was “only slightly less awful” than heroin,
leaving cannabis companies that do touch the plant in limbo of what may come
next. Particular defensive tactics vary, but most fall under a broad strategy of
diversification and operations that involve servicing the broader industry by
means of providing accessories, technological solutions, financial services and
real estate, among others.
Case-in-point is SinglePoint, Inc. (OTC:
SING), a company that specializes in the acquisition of small to
mid-sized companies. Through its wholly owned
SingleSeed.com
subsidiary, which several years ago geared up to offer payment-processing
services to marijuana dispensaries, SinglePoint continues to explore ways to
provide financial services to marijuana establishments.
The provision of payment services is part of SinglePoint’s “no-touch” strategy,
an approach best demonstrated by its acquisition of a portion of Jacksam Corp.,
dba Convectium, a profitable California-based provider of equipment, branding,
and packaging solutions for the cannabis industry. Singlepoint recently
announced it had closed the first round of funding for the acquisition (http://nnw.fm/oS8U5).
"We have evaluated numerous investment prospects in the cannabis space, and
found there is nothing that compares to this opportunity we have with Convectium.
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,” SinglePoint CEO Greg
Lambrecht states in the press release.
Convectium has developed the world’s first oil-filling system for cartridges and
disposable vape pens for wholesale distribution to dispensaries. The company’s
710Shark and 710Seal system can fill and package 100+ cartridges or disposable
vape pens in 30 seconds, making it the fastest filling and sealing system of its
kind. With a market that extends to over 52 countries, Convectium expects 2017
revenues to be about $3.5 million. This would represent an increase of 150
percent over 2016 revenues of $1.4 million.
The route taken by Corbus Pharmaceuticals Holdings (NASDAQ: CRBP) is also likely
to escape any cannabis clamp-down since the company is developing a synthetic
drug that will be screened as it goes through the Food and Drug Administration
(FDA) regulatory process. Its lead candidate, Anabasum, is a pioneering,
synthetic oral endocannabinoid-mimetic drug that resolves chronic inflammation
and halts fibrotic processes, which is currently being evaluated in four phase
II clinical trials. Endocannabinoid-mimetics are substances that stimulate the
body’s natural production of cannabinoids. One of the most popular and widely
used drugs for the treatment of pain and fever, called variously paracetamol or
acetaminophen, is thought to work this way.
Also likely to be excluded from any crackdown on cannabis is Medical Marijuana
(OTC: MJNA), which on its website states that its “operations in the federally
legal hemp cannabidiol (CBD) market are unaffected by recent statements from
Trump administration officials hinting at a crackdown on recreational marijuana.
Medical Marijuana, Inc.’s hemp-based CBD products are unaffected by recreational
laws or current political stances. The Company’s products are legal and if
necessary will eventually be brought through the FDA approval process.” Medical
Marijuana, it appears, focuses its operations to products derived from legal CBD
hemp oil.
ChineseInvestors.com, Inc. (OTCQB: CIIX) (CIIX
Profile) is also taking the high road with hemp. Late last month, the
company announced it was launching the world's first CBD health products online
store in the Chinese language under the domain name www.ChineseCBDoil.com. CIIX
will use the site to sell CBD oil products to customers in Chinese mainland
where hemp oil-derived products are legal and Chinese speakers in U.S. and
Canada.
Another marijuana player is Cannabis Science (OTC: CBIS), which conducts
research into cannabinoids to develop therapies for the treatment of multiple
critical ailments from cancer and infections to age-related illnesses and
neurobehavioral disorders. Over 60 cannabinoids are to be found in cannabis.
Some, like CBDs, are legal; others, like tetrahydrocannabinols (THC), are
subject to various legal restrictions. Nevertheless, a broad-based cannabinoid
platform seems likely to offer opportunities to shift strategy as the new
administrations continues to huff and puff about marijuana.
For more information on Singlepoint, Inc. (SING) please visit:
Singlepoint, Inc. (SING)
About NetworkNewsWire
NetworkNewsWire (NNW) provides news aggregation and syndication, enhanced press
release services and a full array of social communication solutions. As a
multifaceted financial news and distribution company with an extensive team of
contributing journalists and writers, NNW is uniquely positioned to best serve
private and public companies that desire to reach a wide audience of investors,
consumers, journalists and the general public. NNW has an ever-growing
distribution network of more than 5,000 key syndication outlets across the
country. By cutting through the overload of information in today’s market, NNW
brings its clients unparalleled visibility, recognition and brand awareness. NNW
is where news, content and information converge.
NetworkNewsWire (NNW)
New York, NY
www.NetworkNewsWire.com
Please see full disclaimers on the NetworkNewsWire website applicable to all
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issuer or comparison to the profiled issuer. FN Media Group, LLC (FNM), is a
third-party publisher and news dissemination service provider, which
disseminates electronic information through multiple online media channels. FNM
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and its affiliated companies are a news dissemination and financial marketing
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security. FNM was not compensated by any public company mentioned herein to
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This release contains "forward-looking statements" within the meaning of Section
27A of the Securities Act of 1933, as amended, and Section 21E the Securities
Exchange Act of 1934, as amended and such forward-looking statements are made
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"draft", "eventually" or "projected". You are cautioned that such statements are
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circumstances, events, or results to differ materially from those projected in
the forward-looking statements, including the risks that actual results may
differ materially from those projected in the forward-looking statements as a
result of various factors, and other risks identified in a company's annual
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News Source: NetworkNewsWire
“No-Touch” Approach Reduces
Risk as Public Companies Tap Explosive Growth of Cannabis Industry
New York, NY – March 15th, 2017 –
NetworkNewsWire.com News Coverage:
The marijuana industry is the new investing frontier. As a result of last
November’s elections, eight states and the District of Columbia now allow the
recreational use of
marijuana,
while another 28 states permit its use for medicinal purposes. In what has been
touted as the fastest-growing industry in the U.S., investment opportunities in
the cannabis space appear boundless. Companies like Singlepoint, Inc. (OTC:
SING), American Cannabis Company Inc. (OTC: AMMJ), General Cannabis
Corp. (OTC: CANN), The Scotts Miracle-Gro Company (NYSE: SMG) and Terra Tech
Corp. (OTC: TRTC) are all employing a “no-touch” approach to their cannabis
business models. By creating business models that indirectly deal with marijuana
plants, these companies reduce or eliminate the risk of falling foul of changing
federal laws and restrictions.
According to ArcView Market Research, regulated marijuana sales in North America
reached $6.9 billion in 2016, an increase of 30 percent compared to 2015. Sales
are expected to continue their pace and reach $21.6 billion by the year 2021,
representing CAGR of 26 percent. New Frontier Data projects growth in the
medical cannabis market at 12 percent CAGR through 2025, growing from $4.7
billion in 2016 to an estimated $13.3 billion in 2025. During the same period,
adult use sales will experience growth of 21 percent CAGR, rising from $1.9
billion to $10.9 billion.
Despite the easing of prohibition and the rosy prospects for the industry,
cannabis remains a Schedule 1 substance under the Controlled Substances Act, a
place it occupies alongside heroin, lysergic acid diethylamide (LSD), and
ecstasy. The Drug Enforcement Administration (DEA) defines Schedule 1 drugs as
those with a high potential for abuse and the potential to create severe
psychological and/or physical dependence.
In light of the industry uncertainty under the Trump Administration – which has
indicated that states with recreational marijuana will see “greater enforcement”
of federal laws - marijuana businesses like Singlepoint, Inc. (OTC:
SING), which pursues a no-touch strategy when it comes to dealing with
marijuana plants, are in a stronger position to combat legal challenges. After
all, selling a spade is not the same thing as digging for coal.
Singlepoint, Inc. (OTC:
SING) through its
SingleSeed Payments
subsidiary, years ago set up a strategy to offer payment solutions to the
cannabis industry. Its mobile marketing and payment solutions include cashless
ATM, Pay-by-Text™ and text message marketing. The plan is to develop a marketing
program specifically designed for cannabis accounts, enabling consumers to use
their credit and debit cards to make payments for cannabis purchases.
In another hands-off strategy, SinglePoint has acquired (http://nnw.fm/g8OO3) an
interest in Jacksam Corp., dba Convectium, the profitable, California-based
developer of the 710Shark and 710Seal system. This innovative oil filling system
can fill and package more than 100 cartridges or disposable vape pens in 30
seconds, making it the fastest and only filling and sealing system in the
industry.
Convectium also offers a line of B2C products, which SinglePoint plans to sell
online through its SingleSeed.com subsidiary. Convectium expects to record
full-year 2017 revenues of $3.5 million, an increase of 150% compared to revenue
of $1.4 million for full-year 2016, and, in the first quarter of 2017,
Convectium has already “significantly surpassed” its first-quarter sales in
2016.
In a press release, SinglePoint noted that its interest in Convectium is one of
several acquisitions the company plans to make under its no-touch strategy.
Singlepoint’s market cap is about $33 million, and it currently trades around
$0.06 per share.
Another outfit mitigating risk by operating in the marijuana
business-to-business (B2B) space is American Cannabis Company (OTCQB: AMMJ).
Earlier this month, the company announced that it had secured a second client in
Florida. The new client wants to create a cannabis-business chain and plans to
open a cultivation operation and multiple dispensary locations. AMMJ currently
trades at around $0.69 per share. The company has a market cap of about $35
million.
General Cannabis (OTCQB: CANN) provides real estate, consulting, security, and
financing services, as well as distributes infrastructure products, to
dispensaries and facilities that grow marijuana. The company may double its
revenues in 2016. It is expecting to record over $3 million in sales, compared
to 2015 revenues of $1.76 million. The company has a market cap of about $35
million. Its stock currently trades around $2.26 per share.
The hands-off approach is one that The Scotts Miracle-Gro Company (NYSE: SMG)
has been employing for some time. In 2015, the company acquired a number of
hydroponics companies as part of a strategy to participate in the cannabis
market. A Forbes (http://nnw.fm/Cxzl8) story shows that the strategy is paying
off. In just over a year after acquisition, its hydroponics business grew by 20
percent, roughly four times the rate of the rest of the company. The Scotts
Miracle-Gro Company has a market cap of over $5.5 billion and currently trades
between $90 and $100.
The operations of Terra Tech (OTCQX: TRTC) are also likely to escape the most
unwelcome federal attention by focusing on medical marijuana. The company
recently announced plans to set up a new cultivation facility in Oakland,
California, which will produce about one metric ton of premium grade cannabis
annually. The company has a market cap of about $156 million, and its stock
currently trades at around $0.27.
For more information on Singlepoint, Inc. (SING) please visit:
Singlepoint, Inc. (SING)
About NetworkNewsWire
NetworkNewsWire (NNW) provides news aggregation and syndication, enhanced press
release services and a full array of social communication solutions. As a
multifaceted financial news and distribution company with an extensive team of
contributing journalists and writers, NNW is uniquely positioned to best serve
private and public companies that desire to reach a wide audience of investors,
consumers, journalists and the general public. NNW has an ever-growing
distribution network of more than 5,000 key syndication outlets across the
country. By cutting through the overload of information in today’s market, NNW
brings its clients unparalleled visibility, recognition and brand awareness. NNW
is where news, content and information converge.
NetworkNewsWire (NNW)
New York, New York
www.NetworkNewsWire.com
Please see full disclaimers on the NetworkNewsWire website applicable to all
content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
DISCLAIMER: NetworkNewsWire (NNW) is a source of content listed above.
References to any issuer other than the profiled issuer are intended solely to
identify industry participants and do not constitute an endorsement of any
issuer or comparison to the profiled issuer. FN Media Group, LLC (FNM), is a
third-party publisher and news dissemination service provider, which
disseminates electronic information through multiple online media channels. FNM
is NOT affiliated with NNW or any company mentioned herein. The commentary,
views and opinions expressed in this release by NNW are solely those of NNW and
are not shared by and do not reflect in any manner the views or opinions of FNM.
Readers of this content agree that they cannot and will not seek to hold liable
NNW and FNM for any investment decisions by their readers or subscribers. FNM
and its affiliated companies are a news dissemination and financial marketing
solutions provider and are NOT a registered broker-dealer/analyst/adviser, hold
no investment licenses and may NOT sell, offer to sell or offer to buy any
security. FNM was not compensated by any public company mentioned herein to
disseminate this press release. NNW’s compensation disclosure is incorporated
herein and appears in full at http://NNW.fm/Disclaimer
NNW & FNM HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.
This release contains "forward-looking statements" within the meaning of Section
27A of the Securities Act of 1933, as amended, and Section 21E the Securities
Exchange Act of 1934, as amended and such forward-looking statements are made
pursuant to the safe harbor provisions of the Private Securities Litigation
Reform Act of 1995. "Forward-looking statements" describe future expectations,
plans, results, or strategies and are generally preceded by words such as "may",
"future", "plan" or "planned", "will" or "should", "expected," "anticipates",
"draft", "eventually" or "projected". You are cautioned that such statements are
subject to a multitude of risks and uncertainties that could cause future
circumstances, events, or results to differ materially from those projected in
the forward-looking statements, including the risks that actual results may
differ materially from those projected in the forward-looking statements as a
result of various factors, and other risks identified in a company's annual
report on Form 10-K or 10-KSB and other filings made by such company with the
Securities and Exchange Commission. You should consider these factors in
evaluating the forward-looking statements included herein, and not place undue
reliance on such statements. The forward-looking statements in this release are
made as of the date hereof and NNW & FNM undertakes no obligation to update such
statements.
Media Contact e-mail: FN Media Group, LLC - editor@financialnewsmedia.com
(954)345-0611
News Source: NetworkNewsWire
SinglePoint, Inc. Acquires
Stake in Convectium, Deepens Roots in Lucrative Cannabis Industry
Acquisition Serves as Benchmark for Future Investments in Profitable, Innovative
Cannabis BusinessesSeattle, WA
SEATTLE, WA / March 14, 2017 /
SinglePoint, Inc. (OTC PINK: SING), a holding company specialized in the
acquisition of small to mid-sized companies, announces that it has closed its
first round of funding to acquire a portion of Jacksam Corp., dba Convectium,
the developer of a unique oil filling system poised to revolutionize the
cannabis market. Convectium projects full-year 2017 sales of $3.5 million, a
triple-digit increase over the year prior. The acquisition represents the first
of many strategic investments SinglePoint intends to make to diversify its
revenue streams in the multi-billion dollar cannabis industry.
As previously announced, SinglePoint will invest a stock and cash consideration
totaling $800,000 to help fund the growth of Convectium and the marketing of its
revolutionary 710Shark and 710Seal system. Developed by Convectium, the system
is capable of filling and packaging more than 100 cartridges or disposable vape
pens in 30 seconds, making it the fastest and only filling and sealing system of
its kind. Convectium also offers a line of B2C products, which SinglePoint will
sell online through its SingleSeed.com subsidiary.
Driven by increasing product demand and brand visibility, Convectium projects
full-year 2017 revenues of $3.5 million, an
increase of 150% compared to revenue of $1.4 million for full-year 2016. The
company is on track to achieve this goal, as sales for the first quarter of 2017
have already significantly surpassed first-quarter sales in 2016.
"We are excited to be a part of the SinglePoint team. With their funding we
expect to reach and hopefully exceed our projected revenue goals," says Danny
Davis, managing partner of Convectium.
The investment provides growth opportunities for both parties, and accelerates
SinglePoint's strategy to profitably participate in the lucrative cannabis
industry without direct contact with a marijuana plant.
"We have evaluated numerous investment prospects in the cannabis space, and
found there is nothing that compares to this opportunity we have with Convectium,"
states SinglePoint CEO, Greg Lambrecht. "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."
About SinglePoint, Inc.
SinglePoint, Inc. (SING) has grown from a full-service mobile technology
provider to a publicly traded holding company. Through diversification into
horizontal markets, SinglePoint is building its portfolio by acquiring an
interest in undervalued subsidiaries, thereby providing a rich, diversified
holding base. Through its subsidiary company SingleSeed the company is providing
products and services to the cannabis industry.
Connect on social media at: http://www.facebook.com/SinglePointMobile, http://www.twitter.com/_SinglePoint_,
http://www.linkedin.com/company/SinglePoint and http://www.youtube.com/user/SinglePointMobile
For more information visit http://www.SinglePoint.com or http://www.SingleSeed.com
About Jacksam Corp. dba Convectium
Convectium was founded in October of 2013 and based in South Orange County,
California. Convectium does not touch plants; its branding, packaging and
equipment solutions help grow the companies that do. With the industry's first
and only oil filling system, proprietary packaging systems and innovative
devices, Convectium represents a commitment to the future of infrastructure in
the cannabis industry.
To view the 710Shark at work, visit https://vimeo.com/169612830
For more information, visit http://www.Convectium.com, http://www.BlackoutX.com
or http://www.710Shark.com
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, 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.
Technical 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.
Contact:
SinglePoint, Inc.
Greg Lambrecht
602-481-1544
NetworkNewsWire (NNW)
New York, New York
http://www.NetworkNewsWire.com
212-418-1217 Office
Editor@NetworkNewsWire.com
SOURCE: SinglePoint, Inc.
Strong Technical Interface
Making Cannabis Industry More Profitable and Efficient
New York, NY – March 8th, 2017 –
NetworkNewsWire.com News Coverage:
Any fast-growing business needs an operational framework to help it develop and
better serve its customers, and the marijuana industry is no different. As the
legal cannabis market continues its impressive expansion, a growing number of
companies are emerging to form a legal support framework of related technology
and ancillary services that are driving the industry toward an efficient and
profitable structure. Companies such as SinglePoint, Inc. (OTC:
SING), MassRoots, Inc. (OTC: MSRT), mCig. Inc. (OTC: MCIG), Rocky Mountain
High Brands, Inc. (OTC: RMHB) and Innovative Industrial Properties, Inc. (NYSE:
IIPR) are branching out into different segments of the industry, determined to
make the most of one of America’s fastest growing markets.
SinglePoint (SING) is an ancillary service provider that does not
directly touch the cannabis plant. Based in Nevada, SinglePoint has been
involved with the legal marijuana market for a while, and, as the market showed
signs of exponential growth, the company has taken a more active role. As a
direct result of last year’s election, which made marijuana legal in a greater
number of states, SinglePoint reactivated its
SingleSeed Payments
subsidiary, with the goal of providing legal cannabis business operators
with much-needed non-cash payment processing and mobile marketing tools.
SinglePoint (SING)
is also interested in expanding its reach in the market, as confirmed by its
recent Letter of Intent to acquire a stake in Convectium. The acquisition will
give SING access to a unique, proprietary machine that has the potential to
drive the industrialization of cannabis production nationwide. With an
impressive capacity to fill more than 100 disposable cartridges or vape pens in
as little as 30 seconds, the system can have a significant impact on the
industry as a whole by making the cannabis production process easier, more
efficient, and, ultimately, more profitable.
Operating one of the largest technology platforms for the legal cannabis
industry, MassRoots (OTCQB: MSRT) has created a complex mobile network that
allows medical cannabis users to make informed purchasing decisions based on
product reviews, as well as connect with other users and the marijuana
legalization movement. The network is available via free iOS and Android mobile
apps, as well as the MassRoots website. With affiliations with leading market
players such as the
National Cannabis Industry Association and ArcView Group,
MassRoots also operates a free portal that allows specialized dispensaries to
access market analytics, gain insight into customer preferences, and more. The
company is based in Denver, Colorado – one of the few states that allows both
medical and recreational marijuana use.
While MassRoots is focused on the software side of the business, Nevada-based
mCig (OTCQB: MCIG) is more involved with the actual cultivation process, via its
Grow Contractors division. Originally a manufacturer and distributor of
vaporizers, electronic cigarettes, and accessories, mCig has become a
full-service cannabis cultivation construction company that provides
state-of-the-art modular and commercial buildings to cannabis growers, allowing
them to significantly expand operations and production. The company is also
looking to expand its services and competencies to further support the ancillary
legal hemp, cannabis and cannabidiol markets.
One of the most active players in the hemp market, Dallas, Texas-based Rocky
Mountain High Brands (OTCQB: RMHB) is a great example of a company that’s
actively involved in the manufacturing and distribution of its products. As a
fully-reporting consumer goods company, Rocky Mountain High Brands specializes
in the development, manufacture, distribution and commercialization of hemp- and
cannabidiol-infused food and beverages. Its product line includes hemp-infused
edibles such as energy and protein bars, but mostly naturally flavored
hemp-based beverages such as black tea, lemonade and energy drinks.
Innovative Industrial Properties (NYSE: IIPR)’s approach to the cannabis
industry is to acquire specialized industrial real estate assets used for
growing medical-use cannabis. IIPR’s leases are long-term, triple-net
arrangements in which tenants pay taxes, maintenance, insurance and structural
repairs, in addition to base rent. In December 2016, IIPR closed on its first
sale-leaseback transaction by acquiring from PharmaCann LLC a
127,000-square-foot medical-use cannabis cultivation and processing facility in
New York. PharmaCann is now leasing the property from IIPR and, in a press
release, said the arrangement frees up capital needed for expansion.
Despite legal concerns owing to the fact that marijuana is still considered an
illegal substance by the U.S. federal government, even though it is allowed in
28 states, a strong technical interface is being built around the cannabis
business. Ranging from software solutions and service providers that do not
actually touch the cannabis plant, to actual machinery and manufacturing
platforms such as Convectium’s innovative oil filling machine for disposable
vape pens and cartridges, this interface is expanding as fast as the actual
market it serves and pushing cannabis production – and cannabis businesses – to
new heights.
For more information on Singlepoint, Inc. (SING) please visit:
Singlepoint, Inc. (SING)
About NetworkNewsWire
NetworkNewsWire (NNW) provides news aggregation and syndication, enhanced press
release services and a full array of social communication solutions. As a
multifaceted financial news and distribution company with an extensive team of
contributing journalists and writers, NNW is uniquely positioned to best serve
private and public companies that desire to reach a wide audience of investors,
consumers, journalists and the general public. NNW has an ever-growing
distribution network of more than 5,000 key syndication outlets across the
country. By cutting through the overload of information in today’s market, NNW
brings its clients unparalleled visibility, recognition and brand awareness. NNW
is where news, content and information converge.
NetworkNewsWire (NNW)
New York, New York
www.NetworkNewsWire.com
Please see full disclaimers on the NetworkNewsWire website applicable to all
content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
DISCLAIMER: NetworkNewsWire (NNW) is a source of content listed above.
References to any issuer other than the profiled issuer are intended solely to
identify industry participants and do not constitute an endorsement of any
issuer or comparison to the profiled issuer. FN Media Group, LLC (FNM), is a
third-party publisher and news dissemination service provider, which
disseminates electronic information through multiple online media channels. FNM
is NOT affiliated with NNW or any company mentioned herein. The commentary,
views and opinions expressed in this release by NNW are solely those of NNW and
are not shared by and do not reflect in any manner the views or opinions of FNM.
Readers of this content agree that they cannot and will not seek to hold liable
NNW and FNM for any investment decisions by their readers or subscribers. FNM
and its affiliated companies are a news dissemination and financial marketing
solutions provider and are NOT a registered broker-dealer/analyst/adviser, hold
no investment licenses and may NOT sell, offer to sell or offer to buy any
security. FNM was not compensated by any public company mentioned herein to
disseminate this press release. NNW’s compensation disclosure is incorporated
herein and appears in full at http://NNW.fm/Disclaimer
NNW & FNM HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.
This release contains "forward-looking statements" within the meaning of Section
27A of the Securities Act of 1933, as amended, and Section 21E the Securities
Exchange Act of 1934, as amended and such forward-looking statements are made
pursuant to the safe harbor provisions of the Private Securities Litigation
Reform Act of 1995. "Forward-looking statements" describe future expectations,
plans, results, or strategies and are generally preceded by words such as "may",
"future", "plan" or "planned", "will" or "should", "expected," "anticipates",
"draft", "eventually" or "projected". You are cautioned that such statements are
subject to a multitude of risks and uncertainties that could cause future
circumstances, events, or results to differ materially from those projected in
the forward-looking statements, including the risks that actual results may
differ materially from those projected in the forward-looking statements as a
result of various factors, and other risks identified in a company's annual
report on Form 10-K or 10-KSB and other filings made by such company with the
Securities and Exchange Commission. You should consider these factors in
evaluating the forward-looking statements included herein, and not place undue
reliance on such statements. The forward-looking statements in this release are
made as of the date hereof and NNW & FNM undertakes no obligation to update such
statements.
Media Contact e-mail: FN Media Group, LLC - editor@financialnewsmedia.com
(954)345-0611
News Source: NetworkNewsWire
“Greater Enforcement” of
Federal Laws would have Mixed Impact in Cannabis Industry
New York, NY – March 1st, 2017 –
NetworkNewsWire.com News Coverage:
The White House struck a chord with the marijuana industry last week when press
secretary Sean Spicer said the Department of Justice is likely to enforce
federal marijuana laws in states that have legalized recreational pot. While the
prevailing mood is disappointment among the
broader
marijuana/cannabis industry, reactions and impacts are mixed among businesses
like Singlepoint, Inc. (OTC:
SING), Medical Marijuana, Inc. (OTC: MJNA), Terra Tech Corp. (OTC: TRTC)
and Marijuana Company of America Inc. (OTC: MCOA).
SinglePoint, Inc. (SING) is building an acquisition-based cannabis
business focused on high-potential targets that service the cannabis industry
rather than those that deal directly with the plants, and therefore won’t feel
the crunch of greater federal enforcement. With this strategy, SinglePoint
is the “pick and shovel” for cannabis businesses, providing them tools
needed to run their daily operations while positioning itself as a hedge
investment against companies that deal directly with the plants.
The company’s SingleSeed Payments (http://www.SingleSeed.com)
subsidiary, for example, is poised to offer payment solutions to the
cannabis industry. SingleSeed has worked with small companies to provide
business solutions to cannabis dispensaries. This technology could be applicable
for medical and recreational cannabis businesses.
In an interview with MoneyTV with Donald Baillargeon (http://nnw.fm/2FLhK),
SinglePoint CEO Greg Lambrecht provided further insight into its
acquisition strategy, noting that potential targets ideally have solid EBITDA
and revenue. Case in point, SinglePoint recently signed a Letter of
Intent to acquire a stake in California-based Convectium, which manufactures a
unique and innovative oil filling machine able to fill cartridges and disposable
vape pens for dispensaries or wholesale distribution. Convectium forecasts 2017
revenues of $3.5 million, an increase of 150% compared to revenue of $1.4
million for 2016. Lambrecht also said the company is discussing an acquisition
opportunity with a company that is on the software side of the cannabis
industry.
Following Spicer’s comments and in light of its current position in the
industry, SinglePoint issued the following statement on Facebook:
“SING in perfect position to take advantage of the cannabis space without
touching the plant. All of SinglePoint services available to cannabis businesses
will not be impacted by any federal law that may inhibit recreational cannabis.
SinglePoint is focused on providing business services these companies need
including, marketing, payments, and products like Convectium.”
Meanwhile, Terra Tech Corp. (OTCQX: TRTC) CEO Derek Peterson focused on the
economic impact of federal enforcement:
"Today's news coming out of the administration regarding the adult use of
cannabis is, of course, disappointing. We have hoped and still hope that the
federal government will respect states' rights in the same manner they have on
several other issues. The economic impact, job creation and tax collection
associated with both medical and recreational legalization have been tremendous
throughout the country. We hope the new administration really takes the time to
understand that the
money is either going into the states' coffers or making its
way to drug cartels. We also hope that the states make a point of defending
their independence in regards to this and protect their constituent."
Terra Tech is committed to cultivating and providing high quality medical
cannabis and other agricultural products. The company operates through two
segments: Hydroponic Produce and Cannabis Products. In addition, through its
subsidiary GrowOp Technology, it is engaged in the design, marketing and sale of
hydroponic equipment. Another subsidiary, Edible Garden Corp., retails locally
grown hydroponic produce, herbs, and floral products. The company also intends
to operate medical marijuana cultivation, production and dispensary facilities
in Nevada and sell cannabis flowers and cigarettes.
Also in the mix of companies with an “out-of-touch” approach to marijuana is
Medical Marijuana, Inc. (OTC: MJNA), a family of companies specializing in hemp
consumer products, cannabis-based pharmaceuticals and medications, and services
supporting the greater cannabis industry. The company’s subsidiaries include
HempMeds, which handle distribution in the United States, Brazil and Mexico; the
bio-pharmaceutical KannaLife; a network marketing arm called Kannaway; Wellness
Managed Services; and MPS International, a consulting firm.
Additionally, Marijuana Company of America Inc. (OTC: MCOA) is a marketing and
distribution company that plans to deliver all the benefits of cannabis by
providing a wide range of services for cannabis businesses and entrepreneurs.
MCOA recently entered into a Letter of Intent for a joint venture with
Bougainville Ventures, Inc. designed specifically for cultivation, processing
and commercial availability of legal marijuana within the State of Washington.
Source: 1. http://nnw.fm/H67zm
For more information on Singlepoint, Inc. (SING) please visit:
Singlepoint, Inc. (SING)
About NetworkNewsWire
NetworkNewsWire (NNW) provides news aggregation and syndication, enhanced press
release services and a full array of social communication solutions. As a
multifaceted financial news and distribution company with an extensive team of
journalists and writers, NNW is uniquely positioned to best serve private and
public companies who need to reach a wide audience of investors, consumers,
journalists and the general public. NNW has an ever-growing distribution network
of more than 5,000 key syndication outlets across the country. By cutting
through the overload of information in today’s market, NNW brings its clients
unparalleled visibility, recognition and brand awareness. NNW is where news,
content and information converge.
NetworkNewsWire (NNW)
New York, New York
www.NetworkNewsWire.com
Please see full disclaimers on the NetworkNewsWire website: http://NNW.fm/Disclaimer
DISCLAIMER: NetworkNewsWire (NNW) is source of content listed above. FN Media
Group, LLC (FNM), is a third party publisher and news dissemination service
provider, which disseminates electronic information through multiple online
media channels. FNM is NOT affiliated with NNW or any company mentioned herein.
The commentary, views and opinions expressed in this release by NNW are solely
those of NNW and are not shared by and do not reflect in any manner the views or
opinions of FNM. NNW & FNM is not liable for any investment decisions by its
readers or subscribers. FNM and its affiliated companies are a news
dissemination and financial marketing solutions provider and are NOT a
registered broker/dealer/analyst/adviser, holds no investment licenses and may
NOT sell, offer to sell or offer to buy any security. FNM was not compensated by
any public company mentioned herein to disseminate this press release.
NNW & FNM HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.
This release contains "forward-looking statements" within the meaning of Section
27A of the Securities Act of 1933, as amended, and Section 21E the Securities
Exchange Act of 1934, as amended and such forward-looking statements are made
pursuant to the safe harbor provisions of the Private Securities Litigation
Reform Act of 1995. "Forward-looking statements" describe future expectations,
plans, results, or strategies and are generally preceded by words such as "may",
"future", "plan" or "planned", "will" or "should", "expected," "anticipates",
"draft", "eventually" or "projected". You are cautioned that such statements are
subject to a multitude of risks and uncertainties that could cause future
circumstances, events, or results to differ materially from those projected in
the forward-looking statements, including the risks that actual results may
differ materially from those projected in the forward-looking statements as a
result of various factors, and other risks identified in a company's annual
report on Form 10-K or 10-KSB and other filings made by such company with the
Securities and Exchange Commission. You should consider these factors in
evaluating the forward-looking statements included herein, and not place undue
reliance on such statements. The forward-looking statements in this release are
made as of the date hereof and NNW & FNM undertakes no obligation to update such
statements.
Media Contact e-mail: FN Media Group, LLC - editor@financialnewsmedia.com
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News Source: NetworkNewsWire
The Tangential Opportunities
of the Cannabis Industry
New York, NY – February 22, 2017 , 2017 –
NetworkNewsWire.com News Coverage:
The cannabis industry is heating up. More than half of the 50 states in the U.S.
have now legalized marijuana for medicinal or recreational use, and several
countries, including Brazil, Canada, Jamaica, Mexico, Paraguay, Portugal,
Uruguay and the Netherlands, have also taken
steps
to legalize or decriminalize cannabis in the last two years. As a result, the
cannabis industry has become ripe with new business opportunities. Recent
developments in the industry, both locally and globally, have opened doors to
tangential industries for companies like SinglePoint, Inc. (OTC:
SING), Medicine Man Tech, Inc. (OTC: MDCL), Reliq Health Technologies (OTC:
RQHTF), General Cannabis Corp. (OTC: CANN) and Medical Marijuana, Inc. (MJNA).
The legal cannabis industry is arguably the fastest growing industry in the
world. According to Cowen & Co., the industry could surpass $50 billion in
revenue over the next 10 years thanks to the continuing legalization throughout
the United States. With the passing of California's Proposition 64, it is
anticipated that the domino effect of recreational legalization will play out
and the size of the industry will roughly triple in the near-term.
Since cannabis is still illegal under federal law, many commercial banks are not
serving the industry. Only a small percentage of financial
institutions—primarily small state-chartered banks and credit unions—presently
serve the industry. Supporters like SinglePoint, however, see a day in
the future when large national banks will offer comprehensive services to the
cannabis industry and further spur its booming growth.
A “bankable” marijuana industry creates a sub-industry that SinglePoint (SING)
is targeting. SinglePoint, through its
SingleSeed Payments
subsidiary, will offer payment processing solutions and currently offers mobile
marketing services and more. SinglePoint also has plans to acquire and
invest in companies in a variety of sectors of the cannabis industry. For this
company, the establishment of a true “bankable” marijuana industry would have
widespread, lucrative implications.
In anticipation of a bankable marijuana industry, SingleSeed is building a list
of interested clients which you can find and sign up for at
www.SingleSeed.com
NetworkNewsWire Exclusive Audio Interview with SinglePoint,
Inc. (SING)
Emerging companies like Denver-based Medicine Man Technologies (MDCL) also have
a significant stake in the state of the legal cannabis industry. Since 2014,
Medicine Man Tech has offered cultivation consulting services for
cannabis-growing
technologies and methodologies. Through its retail operations
and sale of cannabis products, the company has also diversified its position in
this sector. Medicine Man Tech ended 2016 with 23 new clients in eight states
and, throughout its history, has assisted more than 45 clients across 14 states.
It is now one of the largest and most diversified cannabis consulting firms in
the U.S.
In health care technology, Reliq Health Technologies (RQHTF) make up another
category of companies looking to capitalize on the legal recreational cannabis
industry. Reliq Health focuses on the development and operation of innovative,
secure software systems that allow users to track assets using mobile devices.
It also develops hardware and software platforms that allow complex patients to
receive care at home. The Canadian company may be new to the cannabis industry,
but its focus area, initiatives (including four pilot programs) and strong
management team are already setting it up to disrupt the multi-billion-dollar
community care market.
Industry players like General Cannabis (CANN) focus on obtaining and providing
basic business elements for the industry. CANN acquires and then leases out real
estate and operational facilities, and it offers associated support services
such as security and transport. This allows small businesses that have financial
restrictions to get up and running quickly, concentrating on the things that are
important to them instead of spending their money and time on land and
buildings.
A more comprehensive approach to the cannabis industry is seen in the likes of
Medical Marijuana (MJNA), a holding company that evaluates and purchases
value-added cannabis industry companies and product rights. As a result, the
company is involved in a wide range of cannabis products, at all levels, from
basic research and development to final marketing and distribution. The company
also provides a number of general support services to cannabis-based companies
and operations.
Groundbreaking entities like the ones mentioned above are paving the way for
other companies to participate in the cannabis super-growth cycle. As the
cannabis industry continues to make legal strides, a host of long-term,
high-growth opportunities will continue to emerge for companies looking for
greener pastures.
For more information on Singlepoint, Inc. (SING) please visit:
Singlepoint, Inc. (SING)
About NetworkNewsWire
NetworkNewsWire (NNW) provides news aggregation and syndication, enhanced press
release services and a full array of social communication solutions. As a
multifaceted financial news and distribution company with an extensive team of
journalists and writers, NNW is uniquely positioned to best serve private and
public companies who need to reach a wide audience of investors, consumers,
journalists and the general public. NNW has an ever-growing distribution network
of more than 5,000 key syndication outlets across the country. By cutting
through the overload of information in today’s market, NNW brings its clients
unparalleled visibility, recognition and brand awareness. NNW is where news,
content and information converge.
NetworkNewsWire (NNW)
New York, New York
www.NetworkNewsWire.com
Please see full disclaimers on the NetworkNewsWire website: http://NNW.fm/Disclaimer
DISCLAIMER: NetworkNewsWire (NNW) is source of content listed above. FN Media
Group, LLC (FNM), is a third party publisher and news dissemination service
provider, which disseminates electronic information through multiple online
media channels. FNM is NOT affiliated with NNW or any company mentioned herein.
The commentary, views and opinions expressed in this release by NNW are solely
those of NNW and are not shared by and do not reflect in any manner the views or
opinions of FNM. NNW & FNM is not liable for any investment decisions by its
readers or subscribers. FNM and its affiliated companies are a news
dissemination and financial marketing solutions provider and are NOT a
registered broker/dealer/analyst/adviser, holds no investment licenses and may
NOT sell, offer to sell or offer to buy any security. FNM was not compensated by
any public company mentioned herein to disseminate this press release.
NNW & FNM HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.
This release contains "forward-looking statements" within the meaning of Section
27A of the Securities Act of 1933, as amended, and Section 21E the Securities
Exchange Act of 1934, as amended and such forward-looking statements are made
pursuant to the safe harbor provisions of the Private Securities Litigation
Reform Act of 1995. "Forward-looking statements" describe future expectations,
plans, results, or strategies and are generally preceded by words such as "may",
"future", "plan" or "planned", "will" or "should", "expected," "anticipates",
"draft", "eventually" or "projected". You are cautioned that such statements are
subject to a multitude of risks and uncertainties that could cause future
circumstances, events, or results to differ materially from those projected in
the forward-looking statements, including the risks that actual results may
differ materially from those projected in the forward-looking statements as a
result of various factors, and other risks identified in a company's annual
report on Form 10-K or 10-KSB and other filings made by such company with the
Securities and Exchange Commission. You should consider these factors in
evaluating the forward-looking statements included herein, and not place undue
reliance on such statements. The forward-looking statements in this release are
made as of the date hereof and NNW & FNM undertakes no obligation to update such
statements.
Media Contact e-mail: FN Media Group, LLC - editor@financialnewsmedia.com
(954)345-0611
News Source: NetworkNewsWire
Marijuana Industry
Acquisitions on the Rise as Companies to Diversify Portfolios, Increase Revenue
Streams
New York, NY – February 15, 2017 , 2017 –
NetworkNewsWire.com News Coverage:
The global marijuana industry continues to develop at an impressive pace, driven
by new developments in the field of cannabis-based pharmaceutics as
well
as the legalization of both medicinal and recreational use in a growing number
of states. As a result, M&A activity in the market is heading toward exponential
growth as well. Acquisitions help public companies diversify their portfolios
and revenue streams while providing private companies access to more financing.
Public companies such as
SinglePoint, Inc. (OTC: SING), Vinergy Resources Ltd. (OTC: VNNYF) and
ChineseInvestors.com, Inc. (OTC: CIIX) have already initiated or completed such
acquisitions, encouraged by the significant growth potential that cannabis-based
product manufacturing businesses bring to the table. This impressive potential
is perfectly exemplified by GW Pharmaceuticals plc (NASDAQ: GWPH), a biopharma
company focused on developing cannabinoid prescription medicines.
With a reputation as the world’s largest company involved in the production and
commercialization of cannabis-based therapeutics, GW Pharmaceuticals (NASDAQ:
GWPH) has operations in Europe, Canada, the United States and Asia. Based on its
proprietary cannabinoid product platform, GW Pharma has developed therapies for
the treatment of various
conditions, including multiple sclerosis-related spasticity and neuropathic
pain. Its product pipeline is also targeting tuberculosis sclerosis complex,
infantile spasms, adult epilepsy, schizophrenia and more. But GW Pharma is one
of the few developers of cannabis-based products or therapies that are publicly
traded, given the legal hurdles and the lingering public misconceptions facing
the industry. This is why a large number of growers, dispensaries and product
companies choose to operate privately or to be acquired by other public
companies with interests in the industry. As a $3 billion company, GW
Pharmaceuticals is a prime example of the massive potential cannabis offers the
public market.
SinglePoint (SING), a leading provider of mobile technology and payment
solutions, is one such public company, having already established a strong
presence on the legal marijuana market via its
SingleSeed Payments
subsidiary. Although acquired a long time ago, SingleSeed was only recently
reawakened to take advantage of the massive growth of the global marijuana
industry. The subsidiary was relaunched with the specific goal of providing
highly reliable non-cash payment processing and mobile marketing tools to legal
cannabis businesses. Offering these businesses the tools they need to thrive, in
the absence of clear federal regulations and access to secure financing
services, has made SinglePoint one of the most important players in the
ancillary marijuana services market.
NetworkNewsWire Exclusive Audio Interview with SinglePoint, Inc. (SING)
Driven by SingleSeed’s success, SinglePoint has plans to continue its
acquisition strategy and recently announced its Letter of Intent to acquire an
interest in Convectium, the manufacturer of an innovative and unique oil filling
machine for disposable vape pens or cartridges. Convectium’s proprietary systems
are unique in that they can fill and package more than 100 disposable pens or
cartridges in as little as 30 seconds. The acquisition, likely to be completed
before summer, is an important opportunity for SinglePoint’s growth strategy.
“One of the reasons to operate as a public company is to use your stock and your
ability to raise money to acquire revenue. We’re doing exactly what we’re
supposed to be doing; we are looking for private companies to buy and position
them as part of the SinglePoint team. Our broader roll-up strategy is to roll up
10 companies, accelerate our growth, and create multiple revenue streams,”
SinglePoint CEO Greg Lambrecht explains.
Canada’s Vinergy Resources (OTCQB: VNNYF) is also taking active steps toward
growing its product portfolio to become a key player in the global cannabis
industry. Late last year, the company announced plans to acquire MJ BioPharma, a
cannabis technology company focused on the development of new extractions and
formulations for medicinal and recreational use, both domestically and
internationally. In addition to the MJ BioPharma acquisition, Vinergy has also
initiated the acquisition of up to 51 percent of a large European plant with an
extensive catalogue of more than 2,000 cannabis and hemp strains. The name of
the European company has not yet been disclosed.
ChineseInvestors.com (OTCQB: CIIX), a U.S.-based information technology
company focusing on providing real-time financial information in Chinese for the
global Chinese population, has also expanded into the medical marijuana industry
via subsidiary ChineseCBDoil.com. A new website, targeting a population of
roughly 2 billion Chinese-speaking individuals, was launched at the end of
January, and the company also has plans to retail hemp oil and related products
both in China and across the United States.
Industry analysts forecast the cannabis sector will jump to nearly $11 billion
in legal sales by the year 2019, and wide-scale legalization at a state-level
has awakened incredible opportunity for public and private entities competing in
the market to capture their share. Moving forward, it’s likely the burgeoning
industry is positioning for a flurry of M&A activity and continued growth.
For more information on Singlepoint, Inc. (SING) please visit:
Singlepoint, Inc. (SING)
About NetworkNewsWire
NetworkNewsWire (NNW) provides news aggregation and syndication, enhanced press
release services and a full array of social communication solutions. As a
multifaceted financial news and distribution company with an extensive team of
journalists and writers, NNW is uniquely positioned to best serve private and
public companies who need to reach a wide audience of investors, consumers,
journalists and the general public. NNW has an ever-growing distribution network
of more than 5,000 key syndication outlets across the country. By cutting
through the overload of information in today’s market, NNW brings its clients
unparalleled visibility, recognition and brand awareness. NNW is where news,
content and information converge.
NetworkNewsWire (NNW)
New York, New York
www.NetworkNewsWire.com
Please see full disclaimers on the NetworkNewsWire website: http://NNW.fm/Disclaimer
DISCLAIMER: NetworkNewsWire (NNW) is source of content listed above. FN Media
Group, LLC (FNM), is a third party publisher and news dissemination service
provider, which disseminates electronic information through multiple online
media channels. FNM is NOT affiliated with NNW or any company mentioned herein.
The commentary, views and opinions expressed in this release by NNW are solely
those of NNW and are not shared by and do not reflect in any manner the views or
opinions of FNM. NNW & FNM is not liable for any investment decisions by its
readers or subscribers. FNM and its affiliated companies are a news
dissemination and financial marketing solutions provider and are NOT a
registered broker/dealer/analyst/adviser, holds no investment licenses and may
NOT sell, offer to sell or offer to buy any security. FNM was not compensated by
any public company mentioned herein to disseminate this press release.
NNW & FNM HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.
This release contains "forward-looking statements" within the meaning of Section
27A of the Securities Act of 1933, as amended, and Section 21E the Securities
Exchange Act of 1934, as amended and such forward-looking statements are made
pursuant to the safe harbor provisions of the Private Securities Litigation
Reform Act of 1995. "Forward-looking statements" describe future expectations,
plans, results, or strategies and are generally preceded by words such as "may",
"future", "plan" or "planned", "will" or "should", "expected," "anticipates",
"draft", "eventually" or "projected". You are cautioned that such statements are
subject to a multitude of risks and uncertainties that could cause future
circumstances, events, or results to differ materially from those projected in
the forward-looking statements, including the risks that actual results may
differ materially from those projected in the forward-looking statements as a
result of various factors, and other risks identified in a company's annual
report on Form 10-K or 10-KSB and other filings made by such company with the
Securities and Exchange Commission. You should consider these factors in
evaluating the forward-looking statements included herein, and not place undue
reliance on such statements. The forward-looking statements in this release are
made as of the date hereof and NNW & FNM undertakes no obligation to update such
statements.
Media Contact e-mail: FN Media Group, LLC - editor@financialnewsmedia.com
(954)345-0611
News Source: NetworkNewsWire
Israeli Innovation
is at the Heart of a Growing Cannabis Ecosystem
New York, NY – February 8, 2017 , 2017 –
NetworkNewsWire.com News Coverage:
In a move that will certainly have an effect on both domestic and foreign
cannabis companies such as
Singlepoint Inc. (OTC: SING) (SING Profile), Rocky
Mountain
High ( RMHB), mCig, Inc. (MCIG), General Cannabis Corp. (CANN) and Cannabics
Pharmaceuticals, Inc. (CNBX), Israel is reportedly making strides toward
allowing the export of medical marijuana, according to Reuters1.
The Israelis are widely regarded as leaders in medical marijuana research.
However, the local market is small, estimated at $20 million, tops.
Nevertheless, the meager market size appears to discourage neither innovation
nor investment. As such, Israeli companies are involved in the value chain at
all stages, from agriculture to consumer products. In Israel at least, the
cannabis ecosystem is alive and well.
As the cannabis industry continues to evolve on a global scale, there is a
noticeable increase in diversity, in terms of location and operations, among
leading players.
SinglePoint may not be in Israel, but the company is certainly not out
of the loop when it comes to technological advancements of the marijuana
industry. The Arizona-based company recently announced the elimination of its
debt ( http://nnw.fm/4ewGK ), as well as
its plans to uplist to the OTCQB Venture Marketplace and pursue acquisitions in
the technology and cannabis industries.
Notably, the company already has its foot in the door. Through its SingleSeed
Payments subsidiary, SinglePoint is structured to offer payment solutions to the
cannabis industry, which is awaiting federal measures that could allow
much-needed banking options ( http://nnw.fm/yeuT9
). SingleSeed’s mobile marketing and payment solutions include cashless ATM,
Pay-by-Text™ and text message marketing for dispensaries and other cannabis
businesses.
“Through SingleSeed, SinglePoint entered the cannabis industry years ago; since
then we have had a front-row view of the incredible opportunities provided by
widespread acceptance of cannabis, and the subsequent push for legalization on a
variety of points. It’s interesting to see the movement cross international
borders to feed a global market,” says SinglePoint CEO Greg Lambrecht.
Additionally, SinglePoint recently signed a LOI (Letter of Intent) (
http://nnw.fm/6YHU u ) to acquire an interest
in Convectium, a profitable California-based provider of equipment, branding and
packaging solutions for the cannabis industry.
Convectium has developed ‘the world’s first’ oil-filling system for cartridges
and disposable vape pens for wholesale distribution to dispensaries. Within 30
seconds, the company’s 710Shark and 710Seal system can fill and package 100+
cartridges or disposable vape pens, making it the fastest filling and sealing
system of its kind. With a market that extends to over 52 countries, Convectium
expects 2017 revenues to be about $3.5 million. This would represent an increase
of 150% over 2016 revenues of $1.4 million.
In Dallas, Texas, Rocky Mountain High specializes in developing, manufacturing,
marketing and distributing high-quality, health conscious, hemp- and CBD-infused
food and beverage products. The company recently announced that it will attend
the three-day Seattle CannaCon Convention, the world’s largest cannabis business
marketplace, taking place February 16-18.
Another U.S.-based cannabis enterprise is mCig, a diversified company servicing
the legal cannabis, hemp and cannabidiol (CBD) markets. mCig has evolved from
being a vaporizer manufacturer to providing cannabis cultivation construction
services with its Scalable Solutions division. The company recently posted
record third-quarter net sales of $1.3 million, an increase of 546 percent
compared to the third quarter of 2015. Net income for the quarter was $898,000
(with $118,000 adjusted net income), marking the company’s highest
single-quarter performance.
General Cannabis, located in Denver, Colorado, provides an integrated platform
of services to the cannabis industry. Its subsidiaries include Iron Protection
(security services), Next Big Crop (grower support), Chiefton (design and
branding), The Greenhouse (GC capital) and General Cannabis Institute (investor
intelligence).
Back on Israeli soil, Cannabics Pharmaceuticals is developing personalized
anti-cancer treatments based on cannabinoids. The company most recently said its
Cannabics 5mg THC capsule is being evaluated as a treatment for cachexia and
anorexia, in a study taking place in Israel that is fully registered with the
U.S. National Institutes of Health.
1. Reuters: http://nnw.fm/d7l3L
For more information on Singlepoint, Inc. (SING) please visit:
Singlepoint, Inc. (SING)
About NetworkNewsWire
NetworkNewsWire (NNW) provides news aggregation and syndication, enhanced press
release services and a full array of social communication solutions. As a
multifaceted financial news and distribution company with an extensive team of
journalists and writers, NNW is uniquely positioned to best serve private and
public companies who need to reach a wide audience of investors, consumers,
journalists and the general public. NNW has an ever-growing distribution network
of more than 5,000 key syndication outlets across the country. By cutting
through the overload of information in today’s market, NNW brings its clients
unparalleled visibility, recognition and brand awareness. NNW is where news,
content and information converge.
NetworkNewsWire (NNW)
New York, New York
www.NetworkNewsWire.com
Please see full disclaimers on the NetworkNewsWire website:
http://NNW.fm/Disclaimer
DISCLAIMER: NetworkNewsWire (NNW) is source of content listed above. FN Media
Group, LLC (FNM), is a third party publisher and news dissemination service
provider, which disseminates electronic information through multiple online
media channels. FNM is NOT affiliated with NNW or any company mentioned herein.
The commentary, views and opinions expressed in this release by NNW are solely
those of NNW and are not shared by and do not reflect in any manner the views or
opinions of FNM. NNW & FNM is not liable for any investment decisions by its
readers or subscribers. FNM and its affiliated companies are a news
dissemination and financial marketing solutions provider and are NOT a
registered broker/dealer/analyst/adviser, holds no investment licenses and may
NOT sell, offer to sell or offer to buy any security. FNM was not compensated by
any public company mentioned herein to disseminate this press release.
NNW & FNM HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.
This release contains "forward-looking statements" within the meaning of Section
27A of the Securities Act of 1933, as amended, and Section 21E the Securities
Exchange Act of 1934, as amended and such forward-looking statements are made
pursuant to the safe harbor provisions of the Private Securities Litigation
Reform Act of 1995. "Forward-looking statements" describe future expectations,
plans, results, or strategies and are generally preceded by words such as "may",
"future", "plan" or "planned", "will" or "should", "expected," "anticipates",
"draft", "eventually" or "projected". You are cautioned that such statements are
subject to a multitude of risks and uncertainties that could cause future
circumstances, events, or results to differ materially from those projected in
the forward-looking statements, including the risks that actual results may
differ materially from those projected in the forward-looking statements as a
result of various factors, and other risks identified in a company's annual
report on Form 10-K or 10-KSB and other filings made by such company with the
Securities and Exchange Commission. You should consider these factors in
evaluating the forward-looking statements included herein, and not place undue
reliance on such statements. The forward-looking statements in this release are
made as of the date hereof and NNW & FNM undertakes no obligation to update such
statements.
Media Contact e-mail: FN Media Group, LLC - editor@financialnewsmedia.com
(954)345-0611
News Source: NetworkNewsWire
SinglePoint, Inc. Eliminates
Debt, Issues Update on Fund Raising Initiatives and Allocations
SEATTLE, WA / February 7, 2017 /
SinglePoint, Inc. (OTC PINK: SING), a full-service mobile technology and
marketing provider, today announces that the Company is officially debt-free. In
conjunction, SinglePoint has raised more than $300,000 and has signed a Letter
of Intent to secure additional funding of $1 million.
The Company plans to use the capital to uplist to the OTCQB and become a fully
reporting company this year, as well as to support its acquisition-based growth
strategy. Pending due diligence, SinglePoint is optimistic that it will enter
into a definitive agreement in the near future.
"We are pleased to announce our position as a debt-free company, which marks a
significant milestone in our corporate history," states SinglePoint CEO Greg
Lambrecht. "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 and technology
markets."
Today's update follows news of the Company's recent Letter of Intent (http://nnw.fm/6YH6u)
to acquire a stake in Convectium, a profitable California-based company that
created the world's first machine capable of filling cartridges or disposables
en mass for wholesale distribution to cannabis dispensaries.
"Being debt-free provides us with the financial flexibility needed to execute
our growth plan and take advantage of incredible acquisition opportunities -
such as our recent transaction with Convectium - that will strengthen our brand
and ultimately benefit our shareholders," says Lambrecht.
About SinglePoint, Inc.
SinglePoint, Inc. is a full-service mobile technology and marketing provider. We
provide solutions that allow our clients to conduct business transactions,
accept donations, and engage in targeted communication through mobile devices.
Our products connect small to mid-size companies to their target markets by
providing innovative mobile technology at reasonable rates. SinglePoint
recognized the strength in acquiring interest in undervalued subsidiaries in
other markets to create a diversified holding base.
Connect on social media at: www.facebook.com/SinglePointMobile, www.twitter.com/_SinglePoint_,
www.linkedin.com/company/SinglePoint and www.youtube.com/user/SinglePointMobile
For more information visit www.SinglePoint.com.
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, 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.
Technical 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.
Contact:
SinglePoint, Inc.
Greg Lambrecht
602-481-1544
NetworkNewsWire (NNW)
New York, New York
www.NetworkNewsWire.com
212.418.1217 Office
Editor@NetworkNewsWire.com
SOURCE: SinglePoint, Inc.
Marijuana Industry Pushing Toward
Federal Acceptance, Expanded Research in 2017
New York, NY – February 1, 2017 , 2017 –
NetworkNewsWire.com News Coverage:
For the marijuana industry, 2016 was a successful year by any standards,
reaching an estimated $7 billion in transactions and bringing the total number
of
states
to legalize marijuana for medical and/or recreational purposes to 28. However,
deemed America’s fastest growing industry in recent years, the market still has
some major obstacles to overcome in 2017, such as gaining access to legal
banking services, obtaining federal drug reclassification, and more. Removing
marijuana from the federal list of Schedule I drugs would be a major step
forward for the industry, with massive implications and benefits trickling
through to reach cannabis-related product manufacturers and distributors and
ancillary service providers such as Cannabis Sativa, Inc. (OTCQB: CBDS),
Cannabis Science, Inc. (OTC: CBIS), Eco Science Solutions, Inc. (OTC: ESSI),
Medical Marijuana, Inc. (MJNA), and
SinglePoint, Inc. (OTC: SING)
According to Cannabiz Media research firm, the industry headed into 2017 with
over 4,300 cultivators, more than 2,500 producers, 3,300 dispensaries and almost
4,000 retailers nationwide. The numbers are expected to grow significantly in
light of the recent vote by eight more states to legalize medical or
recreational marijuana use. Driven by this impressive growth, the industry will
look to make a bigger impact this year, primarily by gaining federal acceptance.
The industry is already lobbying in favor of removing marijuana from the list of
Schedule I drugs, where it is currently listed alongside heroin, ecstasy and
LSD. It may take as long as four to eight years to gain federal acceptance,
experts say, but the tide is in favor of the industry and, ultimately, the
administration will likely adhere to the wishes of the American majority.
There are concerns that under the Trump Administration, and especially with
marijuana opponent U.S. Senator Jeff Sessions (R-AL) as attorney general, the
industry will struggle more and might lose rights gained at a state level.
President Donald Trump, who spoke in favor of the marijuana market during the
campaign, has yet to make his official position known. In the meantime, a group
of 10 prominent lawmakers are pressing for banking reform to allow cannabis and
related businesses access to financial services. In an open letter, the
lawmakers asked the Financial Crimes Enforcement Network to issue clear guidance
on the matter in order to make it easier for the industry to access banking
services.
As a leading provider of mobile technology and payment solutions serving various
industries, including the marijuana market via subsidiary
SingleSeed Payments,
SinglePoint, Inc. (SING) would welcome updated guidance from the
Financial
Crimes Enforcement Network, as this could help the business attain its full
potential serving a rapidly expanding, legitimate market.
Since SingleSeed’s “reawakening” after voters in eight states voted to legalize
marijuana last November, SingleSeed’s main goal has been to help legitimize the
industry by helping medical or retail cannabis providers grow their business
securely and safely. For that purpose, the company is providing several
state-of-the-art payment solutions and mobile marketing tools.
Representing the diverse nature of the cannabis industry, SinglePoint earlier
this week signed a Letter of Intent to acquire an interest in Convectium, a
profitable California-based company that has created the world’s first oil
filling machine focused on the cannabis industry that is capable of filling
cartridges or disposable vape pens for wholesale distribution to dispensaries.
Convectium’s 710Shark and 710Seal system can fill and package up 100+ cartridges
or disposable vape pens within 30 seconds. The company forecasts revenues for
2017 at $3.5 million, which would be a 150% increase over revenue of $1.4
million for 2016.
“To say we are excited about this opportunity is an understatement. Convectium’s
710Shark and 710Seal system is incredible, and its capabilities are unmatched.
After looking at hundreds of cannabis companies, finding an acquisition
opportunity like we have found in Convecitum adds a new dynamic to our endeavors
and the cannabis industry as a whole,” SinglePoint CEO Greg Lambrecht stated in
a
news release on 1/31/17.
Banking reform would also have a positive impact on other providers of ancillary
services, including e-commerce company Eco Science Solutions, Inc. (ESSI), which
enables cannabis enthusiasts to locate and connect with other enthusiasts or
with cannabis businesses, ultimately facilitating the purchasing of related
products. Another company that would benefit is Medical Marijuana, Inc. (MJNA),
one of the first manufacturers and providers of medical marijuana products and
worldwide distributor of Cannabidiol (CBD). In addition to manufacturing
cannabis-based pharmaceutical and consumer products, the company also offers
infrastructure and support services for the entire industry.
Besides federal acceptance and banking reform, the industry is also trying to
achieve expanded research opportunities. If marijuana is declassified as a
Substance I drug, this will pave the way to continued research into the effects
of the substance and cannabinoid makeup, which could ultimately help the
industry not only show that marijuana isn’t as harmful as opponents claim, but
also come up with better, more efficient formulations and products. Extended
research opportunities would greatly benefit companies such as Cannabis Science,
Inc. (CBIS) a company dedicated to developing innovative cannabinoid-based
therapies for unmet medical needs, or Cannabis Sativa, Inc. (CBDS), a company
that manufactures and commercializes a wide range of marijuana-based product
under affiliated brand names, ranging from CBD-infused bottled water and CBD
capsules to skin care products and more.
For more information on Singlepoint, Inc. (SING) please visit:
Singlepoint, Inc. (SING)
About NetworkNewsWire
NetworkNewsWire (NNW) provides news aggregation and syndication, enhanced press
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public companies who need to reach a wide audience of investors, consumers,
journalists and the general public. NNW has an ever-growing distribution network
of more than 5,000 key syndication outlets across the country. By cutting
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NetworkNewsWire (NNW)
New York, New York
www.NetworkNewsWire.com
Please see full disclaimers on the NetworkNewsWire website: http://NNW.fm/Disclaimer
DISCLAIMER: NetworkNewsWire (NNW) is source of content listed above. FN Media
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media channels. FNM is NOT affiliated with NNW or any company mentioned herein.
The commentary, views and opinions expressed in this release by NNW are solely
those of NNW and are not shared by and do not reflect in any manner the views or
opinions of FNM. NNW & FNM is not liable for any investment decisions by its
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NNW & FNM HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.
This release contains "forward-looking statements" within the meaning of Section
27A of the Securities Act of 1933, as amended, and Section 21E the Securities
Exchange Act of 1934, as amended and such forward-looking statements are made
pursuant to the safe harbor provisions of the Private Securities Litigation
Reform Act of 1995. "Forward-looking statements" describe future expectations,
plans, results, or strategies and are generally preceded by words such as "may",
"future", "plan" or "planned", "will" or "should", "expected," "anticipates",
"draft", "eventually" or "projected". You are cautioned that such statements are
subject to a multitude of risks and uncertainties that could cause future
circumstances, events, or results to differ materially from those projected in
the forward-looking statements, including the risks that actual results may
differ materially from those projected in the forward-looking statements as a
result of various factors, and other risks identified in a company's annual
report on Form 10-K or 10-KSB and other filings made by such company with the
Securities and Exchange Commission. You should consider these factors in
evaluating the forward-looking statements included herein, and not place undue
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Media Contact e-mail: FN Media Group, LLC - editor@financialnewsmedia.com
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News Source: NetworkNewsWire
SinglePoint, Inc. Signs LOI to
Invest $800K in Jacksam Corp., Creator of Revolutionary Cannabis Technology
SEATTLE, WA– January 31, 2017 – SinglePoint, Inc. (OTC PINK:
SING) a
full-service mobile technology and marketing provider, is entering an exciting
niche of the cannabis industry through a Letter of Intent ("LOI") to acquire an
interest in Jacksam Corp., dba Convectium, a profitable California-based
provider of equipment, branding, and packaging solutions for the cannabis
industry.
Convectium is the creator of the world's first oil filling machine focused on
the cannabis industry that is capable of filling cartridges or disposable vape
pens for wholesale distribution to dispensaries. The company's 710Shark and
710Seal system can fill and package up 100+ cartridges or disposable vape pens
in 30 seconds, making it the fastest filling and sealing system of its kind.
Convectium operates a B2B equipment division in addition to its legacy B2C
products. The proprietary equipment is solely distributed by EquipCanna.com, the
Convectium B2B brand. Based on its market position and increasing demand for its
products and services, Convectium forecasts revenues for 2017 at $3.5 million,
an increase of 150% compared to revenue of $1.4 million for 2016.
Convectium ships its consumer brands to over 52 countries. The company's line of
B2C brands include BlackoutX as well as HazeSticks, inspired by the Jimi Hendrix
Cannabis Collection.
"To say we are excited about this opportunity is an understatement," states
SinglePoint CEO, Greg Lambrecht. "Convectium's 710Shark and 710Seal system is
incredible, and its capabilities are unmatched. After looking at hundreds of
cannabis companies, finding an acquisition opportunity like we have found in
Convecitum adds a new dynamic to our endeavors and the cannabis industry as a
whole."
Per the LOI, SinglePoint will pay Jacksam a stock and cash consideration
totaling $800,000. The transaction is expected to accelerate SinglePoint's
existing presence in the cannabis industry - established by its SingleSeed
subsidiary - while creating another avenue of participation in the "Green Rush"
of the multi-billion dollar cannabis industry.
"We are excited to enter into an agreement with SinglePoint, one of the leading
and most visionary publicly traded cannabis companies in the market. Paired with
our proprietary technology and commitment to the future of the infrastructure of
the cannabis industry, Convectium and SinglePoint are creating a unique business
dynamic with incredible potential," says Danny Davis, managing partner at
Convectium.
A definitive agreement on the announced transaction is expected no later than
May 24, 2017, subject to certain terms and conditions, the completion of
due-diligence and obtaining the required consents and regulatory approvals. Upon
closing the transaction Convectium will become a subsidiary of Singlepoint.
About SinglePoint, Inc.
SinglePoint, Inc. is a full-service mobile technology and marketing provider.
The company provides solutions that allow its clients to conduct business
transactions, accept donations, and engage in targeted communication through
mobile devices. SinglePoint products connect small to mid-size companies to
their target markets by providing innovative mobile technology at reasonable
rates. SinglePoint recognized the strength in acquiring interest in undervalued
subsidiaries in other markets, such as Daily Fantasy Sports, to create a
diversified holding base.
Connect on social media at: www.facebook.com/SinglePointMobile, www.twitter.com/_SinglePoint_,
www.linkedin.com/company/SinglePoint and www.youtube.com/user/SinglePointMobile
For more information visit www.SinglePoint.com.
About Jacksam Corp. dba Convectium
Convectium was founded in October of 2013 and based in South Orange County,
California. Convecitum does not touch plants; its branding, packaging and
equipment solutions help grow the companies that do. With the industry's first
and only oil filling system, proprietary packaging systems and innovative
devices, Convectium represents a commitment to the future of infrastructure in
the cannabis industry.
See the 710Shark at work here: https://vimeo.com/169612830
For more information visit www.Convectium.com, www.BlackoutX.com or
www.710Shark.com.
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, 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.
Technical 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.
Contact:
SinglePoint, Inc.
Greg Lambrecht
602-481-1544
NetworkNewsWire (NNW)
New York, New York
www.NetworkNewsWire.com
212.418.1217 Office
Editor@NetworkNewsWire.com
SOURCE: SinglePoint, Inc.
Cannabis Industry Sees Cautionary
Optimism amid Trump Administration Uncertainty
New York, NY – January 25, 2017 –
NetworkNewsWire.com News Coverage:
The election of 2016 will forever mark a
historic
moment for the cannabis industry, reflecting growing acceptance – and
legalization - of cannabis for medical and recreational use. The progression of
this market, expected to grow to $50 billion in the next 10 years, has awakened
a new era of business opportunities for companies like Singlepoint (OTC:
SING), Eco Science Solutions, Inc. (OTC:
ESSI), Medical Marijuana, Inc. (OTC: MJNA), OWC Pharmaceutical Research (OTC:
OWCP) and MassRoots, Inc. (OTC: MSRT).
With specialties ranging from technology to health care, visionary companies are
learning how to apply their expertise to meet the increasing and evolving
demands for cannabis-based products and services.
A recent report ( http://nnw.fm/iI0ci )
from the National Cannabis Industry Association (NCIA) calls the 2016 election
“a watershed moment for the cannabis industry.” While the report highlights
concerns about how the Trump Administration could affect players in the blooming
cannabis industry, the cautionary article offers room for optimism.
Among other points, NCIA notes the potential for policy changes at the
Department of Justice, which since 2013 has crafted its state marijuana programs
around the “Cole Memo.” Written by James Cole, former U.S. deputy attorney
general (2010-2015), the memo provides eight priorities concerning federal
policy on the cannabis industry.
“Hypothetically, new leadership at the Justice Department could revoke the Cole
Memo and return to an era of federal enforcement actions against state-compliant
cannabis businesses. However, such an action would almost certainly provoke
substantial backlash,” writes NCIA.
Meanwhile, a recent initiative by Senator Elizabeth Warren of the Senate Banking
Committee demonstrates growing acceptance of the cannabis industry, and raises
hopes that the Financial Crimes Enforcement Network (FinCEN) will soon provide
updated guidelines for marijuana companies looking for access to banks and
credit unions. Earlier guidance provided by FinCEN in 2014 addressed the
concerns of businesses that dealt directly in marijuana, like pot shops and
marijuana dispensaries. “Indirect businesses that service the marijuana
industry” were left in regulatory limbo, not knowing what rules, if any, applied
to them.
One “indirect business” of vital importance to the marijuana industry is handled
by Singlepoint subsidiary,
SingleSeed Payments,
which will provide a number of transaction and payment processing services, such
as cashless ATM, Pay-by-Text™ and text message marketing to the cannabis
industry.
In a recent interview ( http://nnw.fm/lK1Y5 )
with MoneyTV, Singlepoint CEO Greg Lambrecht discussed the value banking
services would provide to marijuana businesses, also highlighting his optimism
for the industry.
“With Oregon, Washington and Colorado, the cannabis business was roughly
somewhere around $5 billion. With Florida, Massachusetts and California, I’ve
seen a lot of estimates of it growing to $50 billion, and some estimate saying
$100 billion. We’re going to be the merchant processor on that money, so this is
a very exciting time for Singlepoint.”
Another business that will feel the ripple effects of industry change is
MassRoots, Inc. (OTCQB: MSRT), one of the largest technology platforms for the
regulated cannabis industry. The company's mobile apps enable consumers to
provide community-driven reviews of cannabis strains and products, enabling
consumers to make educated cannabis purchasing decisions.
The cannabis industry is also comprised of other “indirect players” such as Eco
Science Solutions, Inc. (OTC Pink: ESSI), an eco-tech company with several
smart-device apps and related supplements to natural medication use; and Medical
Marijuana, Inc. (OTC Pink: MJNA), whose HempMeds MexicoŽ subsidiary recently
received approval from Mexico's health authority, COFEPRIS, to import the
company’s Real Scientific Hemp Oil-X™ to treat a patient for pain associated
with cancer treatments and for general well-being.
Additionally, OWC Pharmaceutical Research (OTCQB: OWCP), through its
Israel-based One World Cannabis Ltd. subsidiary, develops cannabinoid-based
therapies targeting a variety of different medical conditions and disorders. One
World was created to apply pharmaceutical research protocols and disciplines to
the medical cannabis industry, and enables OWC Pharmaceutical to take advantage
of Israel's position as the global center of medical cannabis research.
Ultimately, the forecast for cannabis business is bright, buoyed by public and
congressional support that demands change.
“The 2016 election is a turning point for marijuana policy and the cannabis
industry in the United States. Never before have so many Americans lined up to
reject the failures of marijuana prohibition and support legal, regulated
cannabis programs,” says NCIA.
For more information, please visit: Singlepoint,
Inc. (SING)
About NetworkNewsWire
NetworkNewsWire (NNW) provides news aggregation and syndication, enhanced press
release services and a full array of social communication solutions. As a
multifaceted financial news and distribution company with an extensive team of
journalists and writers, NNW is uniquely positioned to best serve private and
public companies who need to reach a wide audience of investors, consumers,
journalists and the general public. NNW has an ever-growing distribution network
of more than 5,000 key syndication outlets across the country. By cutting
through the overload of information in today’s market, NNW brings its clients
unparalleled visibility, recognition and brand awareness. NNW is where news,
content and information converge.
For more information about NetworkNewsWire, please visit
www.NNW.fm
Please see full disclaimers on the NetworkNewsWire website:
http://NNW.fm/Disclaimer
NetworkNewsWire (NNW)
New York, New York
212.418.1217 Office
DISCLAIMER: NetworkNewsWire (NNW) is source of content listed above. FN Media
Group, LLC (FNM), is a third party publisher and news dissemination service
provider, which disseminates electronic information through multiple online
media channels. FNM is NOT affiliated with NetworkNewsWire (NNW) or any company
mentioned herein. The commentary, views and opinions expressed in this release
by NNW are solely those of NNW and are not shared by and do not reflect in any
manner the views or opinions of FNM. NNW & FNM is not liable for any investment
decisions by its readers or subscribers. FNM and its affiliated companies are a
news dissemination and financial marketing solutions provider and are NOT a
registered broker/dealer/analyst/adviser, holds no investment licenses and may
NOT sell, offer to sell or offer to buy any security. FNM was not compensated by
any public company mentioned herein to disseminate this press release.
NNW & FNM HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.
This release contains "forward-looking statements" within the meaning of Section
27A of the Securities Act of 1933, as amended, and Section 21E the Securities
Exchange Act of 1934, as amended and such forward-looking statements are made
pursuant to the safe harbor provisions of the Private Securities Litigation
Reform Act of 1995. "Forward-looking statements" describe future expectations,
plans, results, or strategies and are generally preceded by words such as "may",
"future", "plan" or "planned", "will" or "should", "expected," "anticipates",
"draft", "eventually" or "projected". You are cautioned that such statements are
subject to a multitude of risks and uncertainties that could cause future
circumstances, events, or results to differ materially from those projected in
the forward-looking statements, including the risks that actual results may
differ materially from those projected in the forward-looking statements as a
result of various factors, and other risks identified in a company's annual
report on Form 10-K or 10-KSB and other filings made by such company with the
Securities and Exchange Commission. You should consider these factors in
evaluating the forward-looking statements included herein, and not place undue
reliance on such statements. The forward-looking statements in this release are
made as of the date hereof and NNW & FNM undertakes no obligation to update such
statements.
Media Contact e-mail: FN Media Group, LLC - editor@financialnewsmedia.com
(954)345-0611
News Source: NetworkNewsWire
Mounting Support for Marijuana
Banking has Widespread Implications
New York, NY – January 18, 2017 –
NetworkNewsWire.com News Coverage:
Although 28 states have already legalized marijuana for medicinal or
recreational use, the U.S. Drug Enforcement Administration (DEA) continues to
label marijuana a
Schedule
1 substance, along with heroin and LSD, making it illegal on a federal level. As
a result, the banking industry has been slow to provide services to marijuana
businesses, forcing many of these companies to operate on a cash-only basis. A
“bankable” marijuana industry, however, would have widespread implications,
including for companies like Singlepoint, Inc. (OTC:
SING), Terra Tech
Corp. (OTCQX: TRTC), OWC Pharmaceutical Research Corp. (OTCQB: OWCP),
ChineseInvestors.com, Inc. (OTCQB: CIIX) and financial institutions like Wells
Fargo (NYSE: WFC)
Cash transaction businesses are a tempting target for thieves, and the lack of
oversight at times leads to lost tax revenue. It’s a situation that Senator
Elizabeth Warren, a member of the Senate Banking Committee, is anxious to
change. As the Associated Press initially
reported, Warren and nine other senators have called upon the Financial Crimes
Enforcement Network to issue new and stronger guidance allowing banks to provide
services to marijuana shop vendors. The moves are a significant encouragement to
payment processors supporting the cannabis industry, as well as other industry
players.
One of the supporters is Singlepoint, Inc.
(OTC: SING), a mobile technology and payments provider, which, through
its “SingleSeed”
Payments subsidiary, provides payment solutions for the cannabis industry. Its
mobile marketing and payment solutions include cashless ATM, Pay-by-Text™ and
text message marketing. The company is strongly encouraged by the efforts of
Senator Warren and others on Capitol Hill, and the significant positive changes
they could bring.
Another company that stands to gain with this new market opportunity is
ChineseInvestors.com, Inc. (CIIX) ChineseInvestors.com, a company that provides
investor information to the global Chinese community, and also offers a unique
link to this community for growing businesses. The company recently announced
plans to launch the “world’s first Cannabidiol (CBD) health products online
store in the Chinese language,” through an agreement with a “well-known” CBD
health brand.
Other cannabis-related companies in line to benefit from mounting support of a
bankable marijuana industry include Terra Tech Corp. (TRTC). Through its
subsidiaries, Terra Tech provides a range of hydroponic equipment for indoor
cultivation of cannabis products. In addition, the company sells hydroponic
cannabis produce and associated products. Another is OWC Pharmaceutical Research
Corp. (OWCP), an Israeli company that develops cannabis products for the
treatment of diseases, also offering consulting services in the industry.
Previous guidance efforts by the U.S. Department of the Treasury gave banks only
limited permission to work with legal marijuana businesses. Along with the DEA’s
Schedule 1 listing, it has created a significant gap between state and federal
treatment of marijuana. Even though the number of financial institutions willing
to provide services to marijuana businesses has grown significantly in recent
years, only a small percentage currently serve the industry. It’s still an area
dominated by small state-chartered banks and credit unions.
Supporters however see an inevitable day, through efforts such as those now
being led by Senator Warren, when large national banks like Wells Fargo (NYSE:
WFC) offer comprehensive services to the cannabis industry, further spurring
already rapid industry growth.
For more information, please visit:
Singlepoint, Inc. (SING)
For more information about NetworkNewsWire, please visit
https://www.NetworkNewsWire.com
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media channels. FNM is NOT affiliated with NetworkNewsWire (NNW) or any company
mentioned herein. The commentary, views and opinions expressed in this release
by NNW are solely those of NNW and are not shared by and do not reflect in any
manner the views or opinions of FNM. The companies that are discussed herein may
or may not have approved the statements made in this release. NNW & FNM is not
liable for any investment decisions by its readers or subscribers. FNM and its
affiliated companies are a news dissemination and financial marketing solutions
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security. FNM was not compensated by any public company mentioned herein to
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NNW & FNM HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.
This release contains "forward-looking statements" within the meaning of Section
27A of the Securities Act of 1933, as amended, and Section 21E the Securities
Exchange Act of 1934, as amended and such forward-looking statements are made
pursuant to the safe harbor provisions of the Private Securities Litigation
Reform Act of 1995. "Forward-looking statements" describe future expectations,
plans, results, or strategies and are generally preceded by words such as "may",
"future", "plan" or "planned", "will" or "should", "expected," "anticipates",
"draft", "eventually" or "projected". You are cautioned that such statements are
subject to a multitude of risks and uncertainties that could cause future
circumstances, events, or results to differ materially from those projected in
the forward-looking statements, including the risks that actual results may
differ materially from those projected in the forward-looking statements as a
result of various factors, and other risks identified in a company's annual
report on Form 10-K or 10-KSB and other filings made by such company with the
Securities and Exchange Commission. You should consider these factors in
evaluating the forward-looking statements included herein, and not place undue
reliance on such statements. The forward-looking statements in this release are
made as of the date hereof and NNW & FNM undertakes no obligation to update such
statements.
Media Contact e-mail: editor@financialnewsmedia.com U.S. Phone: (954)345-0611
News Source: NetworkNewsWire
Senate Banking Committee Could Pave
the Way to a Bankable Marijuana Industry
New York, NY – January 11, 2017 – NetworkNewsWire.com News Coverage:
Last month, a letter signed by 10 U.S.
senators
arrived on the desk of Jamal El-Hindi, the acting director of the Financial
Crimes Enforcement Network (FINCEN), requesting guidance on how banking services
might be offered to “indirect businesses” – such as SinglePoint, Inc. (OTC:
SING), Medical
Marijuana, Inc. (OTC: MJNA) and Cannabis Science, Inc. (OTC: CBIS) - that serve
the state-sanctioned marijuana industry. The implications of such guidance also
carry considerable potential for banking players ranging from small financial
institutions to bellwether banks like Bank of America (NYSE: BAC) and Citigroup
(NYSE: C).
The letter came at the prompting of U.S. Senator Elizabeth Warren, D-Mass, a
member of the Senate Banking Committee that oversees federal monetary policy,
banking regulation and issues affecting the U.S. currency. It’s a widely
applauded push, and
SinglePoint, Inc. for one, is banking on this initiative to clear the
way for payment processing providers, such as its SingleSeed Payments
subsidiary, to offer an array of payment and transaction services to marijuana
shops and dispensaries.
According to a recent report in the Houston Chronicle (http://nnw.fm/qq6NB),
this action is part of a wider effort by many policymakers to regularize the
patchwork legal nature of the $7 billion marijuana industry, marked by a lack of
banking options that forces marijuana businesses “to rely solely on cash, making
them tempting targets for criminals.”
Although 28 states and the District of Columbia have now legalized either adult
recreational or medical use of marijuana, the Drug Enforcement Administration
(DEA) still classifies it as a Schedule I substance “with no currently accepted
medical use and a high potential for abuse.” Yet, there is growing evidence in
the medical profession and the general population that marijuana has beneficent
therapeutic properties.
Companies like Cannabis Science, Inc. (OTC: CBIS) have set out to develop novel
cannabinoid-based therapies for unmet medical needs, while others like
Medical Marijuana, Inc. (OTC: MJNA) – the first publicly traded cannabis
company – focuses on a variety of cannabinoid-based applications for consumer
and medical markets.
In a collection of 60 peer-reviewed studies on medical marijuana (http://nnw.fm/75PYw)
examining the employment of marijuana in the treatment of a long list of
ailments - including amyotrophic lateral sclerosis (ALS), cancer and HIV/AIDS -
41 (68.3%) demonstrated positive results. Another 14 (23.3%) were inconclusive,
and five (8.3%) of the trials reported
negative outcomes.
Senator Warren has argued that loosening the restrictions that force marijuana
business to transact in cash payments has a number of advantages.
"You make sure that people are really paying their taxes. You know that the
money is not being diverted to some kind of criminal enterprise. And it's just a
plain old safety issue. You don't want people walking in with guns and masks and
saying, 'Give me all your cash.'"
There is some hope that the barriers preventing payment services providers like
SingleSeed from doing business with marijuana establishments will be removed.
FINCEN previously lent a sympathetic ear to similar pleas. In February 2014, the
bureau offered guidance on how financial institutions could provide services to
marijuana-related businesses consistent with their Bank Secrecy Act obligations.
That earlier guidance appears to have been tailored to businesses that dealt
directly in marijuana like pot shops and marijuana dispensaries. It did not
address the plight of the indirect businesses that service the marijuana
industry, leaving it up to individual financial institutions to determine how to
classify and treat indirect businesses.
Tossing the buck to financial institutions has had paltry success: “the number
of banks and credit unions willing to handle pot money rose from 51 in 2014 to
301 in 2016,” a figure that appears encouraging until placed in a wider context.
There are 11,954 federally regulated banks and credit unions. In general, it’s
still an area dominated by small state-chartered banks and credit unions.
Supporters of a bankable marijuana industry, however, see an inevitable day when
large banks like Bank of America and Citigroup will offer full banking services
to the cannabis industry.
When that day comes, financial technology (fintech) companies will have the
chance to capitalize on a monstrous opportunity. SinglePoint’s SingleSeed
Payments subsidiary, for example, is already primed to offer ATM, Pay-by-TextTM
and text message marketing to the cannabis industry. As it stands, progressive
fintechs are in a similar quandary to their federally regulated counterparts and
look forward to further guidance from FINCEN.
For more information, visit
Singlepoint, Inc. (SING)
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Source: NetworkNewsWire.com
SinglePoint Subsidiary:
Opportunities High Amid Congressional Call for Cannabis Banking Reform
SEATTLE, WA– January 4, 2017 – SinglePoint, Inc. (OTC PINK:
SING) today voices
its support for a congressional push that validates the mission of its
SingleSeed (www.singleseed.com) subsidiary to provide much-needed payment
processing solutions to the burgeoning legal cannabis industry.
Though a total of 28 states have legalized marijuana in some form of
consumption/use, marijuana is still federally illegal, which hinders licensed
marijuana businesses from opening an account with most national banks. Cannabis
businesses must instead deal in cash, which puts them at risk of break-ins,
theft and other threats, as well as creates space for tax fraud. However, for
smaller banks, credit unions and companies like SingleSeed, the lack of banking
solutions creates the opportunity to fill increasing demand.
A group of 10 senators recently penned a letter (http://nnw.fm/0Kbvs) to the
U.S. Department of Treasury's Financial Crimes Enforcement Network (FinCEN)
encouraging guidance and changes that could ultimately open the door for banking
services for legal cannabis businesses.
Among other key points, the letter explains that banking products and services
to the cannabis industry will hedge businesses against unnecessary risks while
benefiting the federal government.
"The fledgling legal market for marijuana is around $7 billion, a figure that's
dwarfed by the overall billion US market, most of which remains illegal. This
business environment is an invitation to tax fraud, robberies, money laundering,
and organized crime … With tens of millions of Americans soon gaining legal
access to marijuana under state laws, new guidance is necessary in order to
allow banks to enhance the availability of financial services for indirect
businesses that service the marijuana industry. This will not only bolster the
safety of our communities, but it will also help to spur economic growth across
the country," the three-page letter reads.
As one of the first merchant service providers in the marijuana industry,
SingleSeed applauds the senators' efforts and will offer marketing solutions and
credit card processing to help cannabis dispensaries safely and successfully
grow their businesses.
"We are witnessing exciting, groundbreaking advances in the marijuana industry,
and are encouraged to see congressional-level support for banking measures that
would further revolutionize the way cannabis companies do business," says
SinglePoint CEO Greg Lambrecht. "The regulatory environment is rapidly changing
and SingleSeed is gearing up to provide dispensaries with payment processing
solutions specifically tailored to their needs."
About SinglePoint, Inc.
SinglePoint, Inc. is a full-service mobile technology and marketing provider. We
provide solutions that allow our clients to conduct business transactions,
accept donations, and engage in targeted communication through mobile devices.
Our products connect small to mid-size companies to their target markets by
providing innovative mobile technology at reasonable rates. SinglePoint
recognized the strength in acquiring interest in undervalued subsidiaries in
other markets, such as Daily Fantasy Sports, to create a diversified holding
base.
For more information visit www.SinglePoint.com.
Connect on social media at: www.facebook.com/SinglePointMobile, www.twitter.com/_SinglePoint_,
www.linkedin.com/company/SinglePoint and www.youtube.com/user/SinglePointMobile.
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, 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.
Technical 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.
Contact:
SinglePoint, Inc.
Greg Lambrecht
602-481-1544
QualityStocks
Scottsdale, Arizona
www.QualityStocks.com
480.374.1336 Office
Editor@QualityStocks.net
SOURCE: SinglePoint, Inc.
SinglePoint Subsidiary
Advances Initiatives ahead of Open Banking System in Cannabis Industry
SingleSeed Subsidiary Preps for Open Banking System Amid "Green Rush" of
Legalized Marijuana
SEATTLE, WA– December 6, 2016 – SinglePoint, Inc. (OTC PINK:
SING) is pleased to
issue an update on a number of corporate initiatives taken by its SingleSeed (www.singleseed.com)
subsidiary now that more than half of all U.S. states have legalized marijuana
use for either recreational and/or medicinal purposes.
Dubbed the "green rush," the evolution of the cannabis industry is expected to
rapidly generate billions in tax revenue for these states, and SingleSeed sees
this progression as a catalyst to an open banking system for cannabis
businesses. As a provider of credit card processing solutions for this
particular market, SingleSeed is preparing to meet demand and fuel its own
growth and market penetration.
Leveraging its existing presence in the cannabis industry, SingleSeed is
actively pursuing and discussing acquisition opportunities in the cannabis
market, as well as complementary verticals such as daily fantasy sports (DFS)
and non-profit organizations. SinglePoint is now in the process of negotiating
with a major Wall Street investment group to fund such acquisitions.
The legislative changes in the marijuana market also mean that industry
merchants are navigating uncharted territory, and many of them still struggle to
open bank accounts. This is expected to change, however, as financial
institutions pursue ways to work with cannabis businesses moving forward.
In full support of the anticipated shift toward an open banking system,
SingleSeed is activating and updating its website (www.SingleSeed.com) to enable
text message marketing program and enable pre sign-ups for credit card
processing for dispensaries.
"With the 2016 elections behind us, the favorable outcome for the cannabis
industry has opened a floodgate of opportunity for cannabis merchants,
consumers, and companies providing much-needed industry services, such as those
offered by SingleSeed," says SinglePoint CEO Greg Lambrecht. "Additionally, we
are already receiving significant demand from dispensaries asking for our
payment solutions. We are excited that our fast-paced progression is
well-aligned with market demand as we pursue and act on opportunities to
capitalize on this billowing market."
About SinglePoint,
Inc.
SinglePoint, Inc. is a full-service mobile technology and marketing provider
that serves a diverse clientele. We provide solutions that allow our clients to
conduct business transactions, accept donations, and engage in targeted
communication through mobile devices. Our products connect small to mid-size
companies to their target markets by providing innovative mobile technology at
reasonable rates. SinglePoint recognized the strength in acquiring interest in
undervalued subsidiaries in other markets, such as Daily Fantasy Sports, to
create a diversified holding base. For more information visit
www.SinglePoint.com. Connect on social media at: www.facebook.com/SinglePointMobile,
www.twitter.com/_SinglePoint_, www.linkedin.com/company/SinglePoint, and
www.youtube.com/user/SinglePointMobile
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, 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.
Technical 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.
Contact:
SinglePoint, Inc.
Greg Lambrecht
602-481-1544
QualityStocks
Scottsdale, Arizona
www.QualityStocks.com
480.374.1336 Office
Editor@QualityStocks.net
SOURCE: SinglePoint, Inc.
SinglePoint Subsidiary Primed
as Payment Processor for "Bankable" Cannabis Industry
Voters make history with legalization of marijuana, expanding market for
SingleSeed's cannabis merchant payment processing services
SEATTLE, WA– November 14, 2016 – Tuesday night's election was monumental for
cannabis industry, as four states legalized recreational use of marijuana and
another three approved the drug for medical purposes SinglePoint, Inc. (OTC
PINK: SING) today
applauds the legislation, which further expands the opportunity for the
company's SingleSeed (www.singleseed.com) subsidiary to provide credit card
processing solutions for the cannabis industry, which now is expected to
generate billions of dollars of retail sales moving forward.
California, Maine, Massachusetts and Nevada voted for the legalized recreational
use of marijuana, while Arkansas, Florida and North Dakota approved medical
cannabis initiatives. Montana extended its previous legalization of medical
marijuana (2004), voting for a measure to set up commercial cultivation
operations and dispensaries.
The most action came out of the West Coast, where more than 56% of voters in
California passed an initiative to legalize adult-use cannabis, reflecting the
growing support for legalization nationwide. As the market continues to grow,
industry experts forecast that the legal cannabis market will grow to $50
billion legal cannabis market within the next decade.
With this historical victory in the books, SingleSeed sees broader implications
for the cannabis industry, including an open banking system. The company has
already established working relationships with dispensaries in Colorado and
Washington State, and will continue to leverage its long-standing technology
partnerships to be a "first mover" in what SinglePoint CEO Greg Lambrecht calls
a "bankable" industry.
"We couldn't be more pleased with Tuesday night's election and what this means
for the many players in the cannabis industry. For far too long, dispensaries
and other marijuana businesses have struggled to maintain a secure and
convenient financial position due to legislation that prohibits them from having
bank accounts. On Tuesday night, seven states loudly voiced their support for
legalization. The issue is now too big to ignore, and we expect that Washington
will have to hammer out details to create a 'bankable environment' for
institutions ready to take part in history," he says. "When that time comes,
SingleSeed will already be ahead of the game with its cannabis merchant payment
processing services and technologies."
SingleSeed and its partners are developing a marketing program that meets
specific needs for cannabis merchants, providing consumers the security and
convenience of using their credit and debit cards to make mobile payments for
cannabis purchases.
About SinglePoint,
Inc.
SinglePoint, Inc. is a full-service mobile technology and marketing provider
that serves a diverse clientele. We provide solutions that allow our clients to
conduct business transactions, accept donations, and engage in targeted
communication through mobile devices. Our products connect small to mid-size
companies to their target markets by providing innovative mobile technology at
reasonable rates. SinglePoint recognized the strength in acquiring interest in
undervalued subsidiaries in other markets, such as Daily Fantasy Sports, to
create a diversified holding base. For more information visit
www.SinglePoint.com. Connect on social media at: www.facebook.com/SinglePointMobile,
www.twitter.com/_SinglePoint_, www.linkedin.com/company/SinglePoint and
www.youtube.com/user/SinglePointMobile
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, 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.
Technical 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.
Contact:
SinglePoint, Inc.
Greg Lambrecht
602-481-1544
QualityStocks
Scottsdale, Arizona
www.QualityStocks.com
480.374.1336 Office
Editor@QualityStocks.net
SOURCE: SinglePoint, Inc.
-------------------------------------------------------------------
About Singlepoint, Inc.:
Corporate Profile
SinglePoint (ticker symbol: SING) is a publicly-traded holding company. Founded
in 2006 as Lifestyle Wireless, Inc. SinglePoint is incorporated in Nevada.
SinglePoint specializes in acquisitions of small to mid-sized companies, with an
emphasis on mobile technologies. We provide our investors the opportunity to
make investments across a wide range of assets.
Visit our OTC Markets page for data about Real-Time Bid & Ask, Previous Close,
Daily Range, Volume, Open, 52wk Range, Dividend, Average 30-day Volume, and Net
Dividend Yield details.
About
Small to mid-sized company acquisitions.
SinglePoint has grown from a full-service mobile technology provider to a
publicly-traded holding company.
Through diversification into horizontal markets, SinglePoint builds its
portfolio by acquiring an interest in undervalued subsidiaries, thereby
providing a rich, diversified holding base.
At SinglePoint, we research opportunities where we can be active within the
company and influence strategy and direction. Target companies are undervalued,
cash-flow positive, with high potential and verified assets. SinglePoint
acquires and takes controlling interest of successful candidate companies.
Our success is built on the trust our customers put in us and our commitment to
their success.
Executive Team
Greg Lambrecht – CEO, Founder, President
As CEO and founder of SinglePoint Inc., Greg leads the company in its mission.
He oversees all company operations including investor relations, the leadership
of the Board of Directors, and daily business activities. Greg has a successful
track record of founding and leading start-up companies. As the founder of PCI,
a leading consumer product distribution company, Greg negotiated agreements with
the nation’s largest retail outlets such as 7-11 (Southland Corp), Albertson’s,
and Costco representing 25,000 retail accounts. Greg lead PCI through a NASDAQ
listed IPO, raising $10,000,000. In 2006 Greg started LifeStyle Wireless which
he led to the OTC Pink Stock Market changing the name to SinglePoint: ticker
symbol SING. Greg is a graduate of Western Washington University with a degree
in Marketing and Communications.
Eric Lofdahl – Chief Technology Officer
Lofdahl has over 20 years experience in the technology sector, including
positions in software development, program management, complex system
integration, and engineering process definition. As SinglePoint CTO, Eric has
led the definition and deployment of the company’s mobile messaging, anti-spam,
and content delivery products. Before SinglePoint, he worked at the Boeing
Company, where he led a team that successfully developed advanced wireless and
satellite data products based on commercial technology for the U.S. Air Force.
He also directed the teams that developed new products and capabilities for many
military airplane programs, including the AWACS, F-22 and B-1B programs. Eric
holds a Bachelor of Science degree in electrical engineering from Iowa State
University.
Wil Ralston – VP of Sales and Marketing
Wil has a successful track record of building and maintaining great
relationships with clients. Recognized as the top representative in his section
by Nike, after college graduation Wil chose to continue in sales with
SinglePoint where he has on-boarded marquee clients including GolfLogix and
MonteFiore Inspired Medicine. Wil graduated cum laude from the WP Carey School
of Business at Arizona State University with a degree in Global Agribusiness and
a specialization in Professional Golf Management. Wil is currently recognized by
the Professional Golfers Association of America (PGA) as a Class A Professional.
Prasad Boddu – Director of Business Development
Prasad has over 18 years of strategy, marketing, sales and operational
experience. He has built and lead teams across multiple geographies, with 10
years of experience exclusively in leadership and mentor roles. He currently
provides leadership and guidance to BN Infotec, Six Sigma Services, and Swift
Pace Solutions. Prasad holds an MBA from IBAM, India and a Bachelor of Science
in Instrumentation from Andhra University, India. He is a certified Six Sigma
Black Belt.
Board of Directors
SinglePoint Board of Directors is composed of Greg Lambrecht, Eric Lofdahl, Vara
Prasad Boddu, and Gowri Shankar.
Gowri Shankar
Throughout his career in telecommunications, Gowri Shankar has focused on
bringing new technologies to market and building multi-million dollar sales
organizations. As a founding member of the Sprint PCS launch team, Mr. Shankar
led the creation of the first nationwide telesales and e-commerce distribution
channels in the wireless industry, thereby laying the foundation for Sprint
PCS’s industry-leading enterprise sales strategy. In addition to his work with
Sprint, Mr. Shankar was general manager for eAssist, a CRM software company
where he developed eAssist’s international strategy and was responsible for the
organization’s expansion into nine European countries. He holds a Bachelor of
Science degree in Accounting from University of Madras and an MBA from
University of Missouri.
.SOURCE: http://singlepoint.com/
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