A Company with a Carefully Planned and Executed Cannabis Industry Strategy: SinglePoint, Inc. (OTC: SING)
SinglePoint, Inc. (OTC: SING) has been on many investors’ radars for years now, as they’ve stayed current with business trends. From mobile payment processing, fundraising, and marketing software solutions to daily fantasy sports, and of course to the cannabis industry, SinglePoint has dipped their hands in any cookie jar that has shown tremendous potential. Recently, the company made a very exciting acquisition in the cannabis space, which grants them access to not only B2B customers, but also direct consumer access for B2C sales.
The company recently acquired a stake in Convectium, a company that sells cannabis oil refill machines as well as a variety of vaporizing equipment. Convectium is achieving many industry-first product launches, and this is showing in their financial results. The company is expected to clear over $3.5M in revenue this year, which means SinglePoint’s stake could very well yield positive results for company shareholders. What’s more important than this is that Convectium’s revenue is $3.5M, but their year-over-year growth is in excess of 150%. With the kind of growth figures this company is posting, it’s no surprise that SinglePoint has gained so much steam with the media.
Recently, CEO Gregory Lambrecht was featured in a Forbes article about President Trump’s stance on medical marijuana, “The current administration has made it very clear they would like to empower the states and Trump has even stated his belief in how medical marijuana can help people. We believe the administration will stick to their word on empowering the states. In Phoenix we have many medical shops, none of which have relayed to us that they are being impacted yet by the administration. The biggest impact the current administration can have in favor of cannabis in the near term would be to give guidelines on how this business can be banked.” – Greg Lambrecht via Forbes.
With the positive direction cannabis legislation has been taking over the past several years, there has never been a more exciting time to be a part of the cannabis industry, and SinglePoint has positioned itself to capture business on both major sides of the equation: B2B and B2C. Keep a close eye on what this company is doing, because they are continuing with their acquisition rollout strategy as planned, and they are making power moves in the process.© Copyright 2016 OTC News Magazine. All rights reserved.