SinglePoint CEO Issues Letter to Shareholders in Anticipation for Sustainable Increase in Shareholder Value
SEATTLE, WA -- (Marketwired) -- 04/26/16 -- SinglePoint Inc. (OTC: SING), a mobile marketing and payment technology company, CEO Greg Lambrecht presents today the following Letter to Shareholders:
This is an exciting time for our Company and I am pleased to announce that Mobile Bidding Technologies (MBT) Board of Directors has approved SinglePoint's offer to acquire a minimum 20% stake in the Company with cash and stock. MBT's primary asset is the industry leading mobile bidding solution, Text2Bid, a profitable company that currently has a valuation of $1.6m and has doubled revenues year after year as of late. They continue to revolutionize the $18B auction industry.
As well, we have finalized terms for the acquisition of ownership in DraftFury, a profitable Daily Fantasy Sports enterprise with effective customer retention strategies and an experienced management team. This is an exciting industry and probably one of the most significant acquisitions in our history given the prospects in the DFS industry and overall valuation of DraftFury itself as an $8,000,000 company.
This is alongside our initiative to uplist to OTCQB. Last Friday (4/22), our CFO received the final draft of our Audit for review and stated that this is our final step before obtaining a legal opinion necessary to file the Form 10.
I thank shareholders for their patience as we segued into the Daily Fantasy Sports realm, while keeping true to our core business model in negotiating with Text2Bid toward greater opportunities in the payments realm.
We expect to close both transactions by end of Q2, if not well before. In the meantime, I'm in negotiations with several additional acquisition targets alongside an aggressive, goal-oriented strategy toward an impactful increase in shareholder value.
We will be making additional announcements in regards to the above in the coming days and I encourage shareholders to do the research on our Company, our partners and targets. Before launching SinglePoint, I co-founded a small cigar company, launched a $10m IPO and listed it on NASDAQ the following year. I believe we have the same potential, if not greater, here with SinglePoint.
Thank you for your support and feel free to email me (GregL@SinglePoint.com) with any questions. I'll do my best to respond in a timely manner.
SinglePoint 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. www.singlepoint.com
DraftFury is a U.S. based company that offers skill-based NBA, NFL, and MLB daily fantasy sports (DFS) contests. DraftFury makes DFS accessible to new and casual players and enhances the experience for existing DFS enthusiasts through the simple Pick'Em format, skill-based matching in Fury Arena, and other proprietary innovations. DraftFury's 7-Level Referral Program generously rewards marketing affiliates for promoting the fun and excitement of DraftFury's contests. DraftFury's user base, prize pools, and revenues continue to trend upwards on a month-to-month basis while a mobile app, eSports, and new site features are all planned additions for the near future. https://www.draftfury.com
Text2Bid is the leader in mobile auction technology. Our mission is to make it easy for groups of all sizes to raise money with fun new technology. We are committed to helping your organization with its fund raising efforts.
Founded in 1995, Maestro Software offers the most comprehensive suite of Event Management solutions for the not-for-profit consumer. Maestro Software's industry-leading event management software, online management tools, and credit card processing tools bring fund-raising to a new level of ease and accessibility.
Maestro's client list is a "Who's Who" of national, regional, and local not-for-profit organizations, foundations, schools, museums, hospitals, and other not-for-profits. All of which have each come to rely on Maestro Software's suite of services year after year for their Event Management needs.
a state of the art mobile technology company and full-service mobile marketing agency. The company operates a best-in-class mobile commerce and communications platform specifically designed to serve the needs of the non-profit community. Text-A-Day makes any campaign instantly interactive via the mobile phone, regardless of what media channel is used to communicate with the consumer or donor. This functionality allows our clients to conduct business transactions, accept donations and engage in targeted communication campaigns with their customers/donors through mobile devices.
Source: SinglePoint, Inc.
Released April 26, 2016