SinglePoint, Inc. Outperforms 2013 Revenue Projections, Reduces Debt, Raises Substantial Investment Capital Toward Rapid Expansion Into Cannabis Markets
PHOENIX, AZ -- (Marketwired) -- 04/08/14 --
SinglePoint, Inc. (OTC: SING), a state-of-the-art mobile technology and full-service mobile marketing company, announces that its 2013 Annual Report, filed with OTC Markets on March 31st, 2014, exceeded management's revenue expectations with a reported $1.6 million in revenues.
"I was pleased, but not surprised, with the numbers," states SinglePoint™ CEO, Greg Lambrecht. "We've been working effectively to harvest growth in the company in terms of attaining additional clients and workflow, expansion of brand recognition, and formation of valuable strategic partnerships. I am confident that by the end of Q2, the company has a solid chance to become debt-free, and well on its way to sustainable profitability."
In the past few months, since end of 2013, SinglePoint™ has paid down and or settled $100,000 in debt. In addition the Company has raised nearly $500,000 through private investors, which the company intends to use primarily toward expansion into the medical marijuana markets via existing business models and attractive verticals, utilizing management's expertise in distribution and prepaid products.
SinglePoint™ looks to have updates in the coming days with regard to attractive opportunities in Medical Marijuana and Merchant Services sectors.
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About Singlepoint, Inc.
Headquartered in Phoenix, AZ, Singlepoint, Inc. is a state-of-the-art mobile technology company and full-service mobile marketing agency. We operate a best-in-class mobile commerce and communication platform specifically designed to serve the needs of the non-profit community as well as for profit companies. We make any campaign instantly interactive via the mobile phone. This functionality allows our clients to conduct business transactions, accept donations and engage in targeted communication campaigns with their customers/donors through any mobile devices. It also allows our clients to send more messages, create more awareness, and raise revenues and donations.
For more information see www.singlepoint.com
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 April 8, 2014