$SING SinglePoint Inc. (OTCQB: SING), (the “Company”), a leading technology and acquisition company focused on making continued strategic acquisitions and investments in companies operating in high growth areas, announced its financial results for the third quarter ended September 30th, 2019. The Company reported revenues of $1,050,374 for the three months ended September 30, 2019, a 176% increase over the same period in 2018.
The Company’s most recent acquisition, Direct Solar, continues to exceed revenue growth targets and has been pivotal to improving the Company’s financials.
Third Quarter 2019 Unaudited Financial Performance Highlights:
Revenues of $1,050,374
Cash on hand $294,062
Gross Profit $525,891
Third Quarter 2019 Unaudited Financial Performance Summary: (comparisons to prior year period):
Total revenues were $1,050,374 compared to $381,037;
Gross profit was $525,891 compared to $75,353;
Nine Months 2019 Unaudited Financial Performance Summary: (comparisons to prior year period)
Total revenues were $2,170,123 compared to $881,157;
Gross profit was $559,729 compared to $229,017;
“This has been a great quarter for SinglePoint, we are very excited to see the growth of the company. We are establishing solid financials and we anticipate a big fourth quarter. Everything is firing on all cylinders and we continue to hit our numbers. We believe SinglePoint’s revenues will continue to grow as our subsidiary Direct Solar expanded into new markets,” states Greg Lambrecht CEO SinglePoint.
According to VP of Sales Don Smith, “Initial response to the ‘Pure American Hemp Cigarette’ has been overwhelming. After a successful launch at the National Association of Convenience Stores Show in October 2019, we have shipped multiple orders to both distribution and retail clients. SinglePoint is launching our newest smokable hemp-based product - 'ORIGINAL 1606 HEMP.' To capitalize on the increasing demand for these products we will continue to expand our product line, strengthen our manufacturing capacity and grow our global distribution channels in efforts to become the premier brand in this category”.
Full copy of the Singlepoint Inc. September 30, 2019 Form 10-Q can be found here.
The Company’s most recent acquisition, Direct Solar, continues to exceed revenue growth targets and has been pivotal to improving the Company’s financials.
Third Quarter 2019 Unaudited Financial Performance Highlights:
Revenues of $1,050,374
Cash on hand $294,062
Gross Profit $525,891
Third Quarter 2019 Unaudited Financial Performance Summary: (comparisons to prior year period):
Total revenues were $1,050,374 compared to $381,037;
Gross profit was $525,891 compared to $75,353;
Nine Months 2019 Unaudited Financial Performance Summary: (comparisons to prior year period)
Total revenues were $2,170,123 compared to $881,157;
Gross profit was $559,729 compared to $229,017;
“This has been a great quarter for SinglePoint, we are very excited to see the growth of the company. We are establishing solid financials and we anticipate a big fourth quarter. Everything is firing on all cylinders and we continue to hit our numbers. We believe SinglePoint’s revenues will continue to grow as our subsidiary Direct Solar expanded into new markets,” states Greg Lambrecht CEO SinglePoint.
According to VP of Sales Don Smith, “Initial response to the ‘Pure American Hemp Cigarette’ has been overwhelming. After a successful launch at the National Association of Convenience Stores Show in October 2019, we have shipped multiple orders to both distribution and retail clients. SinglePoint is launching our newest smokable hemp-based product - 'ORIGINAL 1606 HEMP.' To capitalize on the increasing demand for these products we will continue to expand our product line, strengthen our manufacturing capacity and grow our global distribution channels in efforts to become the premier brand in this category”.
Full copy of the Singlepoint Inc. September 30, 2019 Form 10-Q can be found here.
