SinglePoint, Inc. Identifies Acquisition and Funding Targets; Updates on MaloneBailey Audit Toward Uplist
SEATTLE, WA -- (Marketwired) -- 07/19/16 -- SinglePoint Inc. (OTC: SING) is pleased to announce that Milost Advisors has identified acquisition targets for a leveraged buyout by SinglePoint, in addition to funding necessary to execute the acquisition(s) alongside its SEC registration for listing on the OTCQB.
We expect to announce news on acquisitions and financing in the near future.
The Company is nearing completion on the audit for SinglePoint's Form 10 with MaloneBailey, a PCAOB firm based in Houston, Texas. Research firm L. Alan Davis has issued a favorable detailed market analysis on SinglePoint that shareholders are encouraged to review.
CEO Greg Lambrecht comments: "This has been an exciting year for SinglePoint. In addition to our equity ownership in DFS enterprise, DraftFury, our stock price has also incurred organic growth since beginning of Q2 and I'm optimistic it will follow suit moving forward as we explore the acquisition targets identified by Milost Advisors."
In June 2016, SinglePoint announced that it had engaged Milost Advisors to pursue acquisitions and financing facilities toward funding acquisitions, as well as to provide working capital. Milost Advisors, as a lead advisor, has stated they will assist the Company in the acquisition of undervalued companies with annual revenues in excess of $50m.
As well, SinglePoint has issued a Letter of Intent to acquire the assets and technology of Mobile Bidding Technologies, Inc. (MBI) including its primary asset, Text2Bid, which Is an industry leading auction software company generating over $10 million a year in donations for its users.
SinglePoint intends to finalize the MBI acquisition there pursuant to completion of audit and filing of Form 10.
SinglePoint Inc. began as a full-service mobile technology and marketing provider. Through diversification of its own model into horizontal markets, SinglePoint recognized the strength in acquiring interest in undervalued subsidiaries in other markets, such as Daily Fantasy Sports, to create a diversified holding base. We are currently exploring the benefits of taking controlling interests in undervalued cash-flow positive, yet high potential companies and assets where we have the ability to be active and influence strategy and direction.
Milost Advisors is a global investment banking firm for mid to large market clients and entrepreneurs. Our team experience continues to help us to offer our clients comprehensive advisory services including M&A, capital markets, Research as well as restructuring and strategic advisory.
Our senior partners have each over 20 years international investment banking experience having worked for investment banking firms in Johannesburg, Frankfurt, Hong Kong, London and New York as well as on transactions in most geographies. In addition, they have also held corporate leadership positions in the industry. They combine cross over skills in restructuring, legal advisory, capital markets, and funding activities.
The firm and its partners have a broad network in the business and funding community both locally and in other financial centres. We combine relationships with corporates with access to specialist equity and debt investors, be it private or public markets capital. We draw on these networks to craft bespoke as well as innovative financing and funding solutions free of potential conflicts.
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.
Source: SinglePoint, Inc.
Released July 19, 2016