Singlepoint, Inc. (OTCQB: SING) is a state of the art mobile technology company focusing on mobile payments and developing new technologies in blockchain and cannabis markets. Singlepoint operates a best-in-class mobile commerce and communications platform specifically designed to serve the needs of small business operators, as well as vendors that want to accept mobile credit card payments. Singlepoint’s SMS services allows clients to conduct business transactions and engage in targeted communication campaigns with their customers on a national and international scale.
Recent Events
June 06, 2018. SinglePoint announced 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. https://www.otcmarkets.com/stock/SING/news/SinglePoint-Completes-Commercial-for-Bitcoin-Wallet-Featuring-Original-Shark-Tank-Member-Kevin-Harrington-and-Provides-U?id=194650
May 15, 2018. SinglePoint, on the heels of the Supreme Court overturning a 1992 federal law prohibiting sports betting in 46 states, announces it has invested in an additional betting platform, StakeHaul, the No. 1 social betting app in the iTunes App Store. SinglePoint has been in the daily fantasy sports arena since March of 2016, when the company invested in GoDraft and DraftFury. With the recent Supreme Court vote, SinglePoint is excited to work closely with StakeHaul to penetrate the betting industry, which has a potential value of $150 billion, according to the American Sports Betting Coalition. SinglePoint has already established a payments option, and the two companies have been working to define the use of Ethereum smart contracts within the application. StakeHaul focuses on peer-to-peer social betting. https://www.otcmarkets.com/stock/SING/news/Supreme-Court-Decision-Empowers-States-to-Take-Action-on-Sports-Betting-SinglePoint-Announces-Investment-in-No-1-Ranked-?id=192423
May 01, 2018. SinglePoint subsidiary ShieldSaver has signed an 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. https://www.otcmarkets.com/stock/SING/news/SinglePoint-Subsidiary-ShieldSaver-Inks-Deal-with-CarFax-Continuing-Expansion-of-Data-Collection-for-Automotive-Blockcha?id=190873
April 24, 2018. SING announced 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. https://www.otcmarkets.com/stock/SING/news/SinglePoint-Continues-Expansion-into-Cannabis-Industry-as-Proposed-Legislation-Favors-Industry-Growth?id=190072
About
SinglePoint, Inc. provides mobile technology and marketing solutions for small to mid-size businesses, nonprofits, and religious organizations. Its solutions enable clients to conduct business transactions, accept donations, and engage in targeted communication through mobile devices. The company offers Text2Bid, a mobile bidding solution that allows users to bid in auctions from text or Web-enabled phones; Donate by Text, a solution that allows nonprofits to securely collect donations via text; Pay by Text that allows customers to pay for products using their mobile phones; and Point of Sale terminals to provide customers the convenience of using debit/credit cards right at checkout. It also provides Oomy, a solution that enables companies to track and manage their fleet vehicles, drivers, and deliveries; text mobile marketing solutions; SingleSwipe that enables customers to turn any device into a point of sale payment processor with the SingleSwipe card reader; and other solutions. SinglePoint, Inc. was formerly known as Carbon Credits International, Inc. and changed its name to SinglePoint, Inc. in February 2013. The company was founded in 2006 and is headquartered in Phoenix, Arizona.
Financial review
Q1 2018
Revenue 188,883
Gross Profit 68,127
Operating Expense 464,175
Other Income/Expense 6,820,371
Net Loss 7,216,921
Cash on Hand 360,773
Risk Factors
Trading of SING common stock may be volatile and sporadic, which could depress the market price of the common stock and make it difficult for stockholders to resell their shares;
They have had a history of losses and may incur future losses, which may prevent them from attaining profitability;
They may choose to raise additional capital. Such capital may not be available, or may be available on unfavorable terms, which would adversely affect their ability to operate the business;
They rely on third parties for certain financial and operational services essential to the ability to manage their business. A failure or disruption in these services could materially and adversely affect their ability to manage the business effectively.
Stock chart
On Friday, June 8, 2018, SING closed at $.036 on traded volume of 6.2 million shares. The current RSI (14) is 61.57
At $.036 SING shares are trading above their 50 DMA of $.030 and below their 200 DMA of $.061
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