SinglePoint's Enterprise Strategy Diversifies the
Post# of 617763
SEATTLE, WA--(Marketwired - Mar 29, 2017) - CFN Media Group ("CannabisFN"), the leading creative agency and media network dedicated to legal cannabis, announces publication of an article that will take a look at SinglePoint Inc.'s (
The cannabis industry is projected to reach $50 billion in size over the next decade, which has created a tremendous opportunity. Cultivators and retail dispensaries may provide the most direct exposure, but SinglePoint is investing in equipment providers and consumer product makers as a way to diversify their exposure, particularly with the threat of federal-level intervention from the Trump Administration.
Focusing on Enterprises
SinglePoint has developed a series of technologies serving cannabis businesses, as well as a select line-up of consumer devices.
The company's flagship product is a best-in-class mobile commerce and communications platform that enables dispensaries to accept electronic payments and market to consumers through SMS messages. By building a network of dispensaries leveraging its SMS marketing technology, the company is positioning itself to take advantage of a vast opportunity in the payments space when federal guidelines surrounding cannabis banking are finalized.
In March, the company closed the first round of funding to acquire a portion of Jacksam Corp., dba Convectium , the developer of a unique oil filling system poised to revolutionize the cannabis industry. Convectium's 710Shark technology is sold to cannabis cultivators and extractors to help them fill up to 100 cartridges of cannabinoid oils in just 30 seconds. These child-proof cartridges are then immediately ready for retail distribution at dispensaries and other locations.
Convectium projects full-year 2017 revenue of $3.5 million, an increase of 150% compared to revenue of $1.4 million in 2016. The company is well on its way to achieving these goals with first quarter 2017 sales that have already significantly surpassed sales from the comparable quarter a year ago as product demand and brand visibility is on the rise.
Convectium also owns a number of consumer brands that it licenses, including BlackoutX , Hi-Lifer, and HazeSticks. These are consumer-level devices for consuming cannabis extracts, but the company does not sell actual cannabis or cannabis extracts. This means that the company gains access to both enterprise and consumer products without the regulatory risks associated with cultivating or selling marijuana outright.
Importance of Diversification
On one hand, the cannabis industry is rapidly growing and expected to reach $50 billion in size over the next decade, according to Cowen & Co. Public support for cannabis legalization has also been on the rise, according to Quinnipiac , with 93% of Americans supporting medical marijuana and 71% opposing a federal crackdown on legal marijuana. The legalization of recreational use in states like California and Nevada could also prove a tipping point.
On the other hand, President Trump hasn't exactly been fully supportive of the industry with the appointment of Jeff Sessions as Attorney General, and the risk of a federal crackdown on legal cannabis remains a large risk factor. The industry could also face eight years of federal-level issues even if a full-scale crackdown doesn't occur, which could include a lack of banking access, difficulties with FDA approvals, and other federally-driven factors.
A cultivator or dispensary could face issues with payments or changes to legalization, but equipment-providers like SinglePoint face less risk since they only provide equipment to businesses and consumers. Equipment providers also provide a differentiated source of revenue and a potentially wider enterprise customer base.
Please follow the link to read the full article: http://www.cannabisfn.com/singlepoints-enterp...diversify/
For more information, visit the company's website or CannabisFN's company profile .
About CFN Media
CFN Media (CannabisFN) is the leading creative agency and media network dedicated to legal cannabis. We help marijuana businesses attract investors, customers (B2B, B2C), capital, and media visibility. Private and public marijuana companies and brands in the US and Canada rely on CFN Media to grow and succeed.
Learn how to become a CFN Media client company, brand or entrepreneur: http://www.cannabisfn.com/become-featured-company/
Download the CFN Media iOS mobile app to access the world of cannabis from the palm of your hand: https://itunes.apple.com/us/app/cannabisfn/id...?ls=1&mt=8
Or visit our homepage and enter your mobile number under the Apple App Store logo to receive a download link text on your iPhone: http://www.cannabisfn.com
Disclaimer:
Except for the historical information presented herein, matters discussed in this release contain forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. Emerging Growth LLC, which owns CFN Media and CannabisFN.com, is not registered with any financial or securities regulatory authority, and does not provide nor claims to provide investment advice or recommendations to readers of this release. Emerging Growth LLC may from time to time have a position in the securities mentioned herein and may increase or decrease such positions without notice. For making specific investment decisions, readers should seek their own advice. Emerging Growth LLC may be compensated for its services in the form of cash-based compensation or equity securities in the companies it writes about, or a combination of the two. For full disclosure please visit: http://www.cannabisfn.com/legal-disclaimer/
CFN Media Frank Lane 206-369-7050 flane@cannabisfn.com
(0)
(0)