Singlepoint Inc (OTCMKTS:SING) is a micro-cap player with an intriguing profile among penny plays on the OTC. This is a diversified name that has managed to hold onto a level of flexibility that has benefited the company. SING’s principal catalyst was the company’s recent announcement of the publication of an article that will take a look at the stock’s recent agreement with Premier Biomedical Inc. to begin manufacturing Premier’s newly designed CBD Hemp Oil Patch products in high volume.
According to the release, the cannabis industry is projected to exceed $50 billion by 2026, according to Cowen & Co., driven by the ongoing legalization of medical and recreational marijuana. While recreational marijuana has drawn a lot of attention, tetrahydrocannabinol’s (THC) non-psychoactive cousin, cannabidiol (CBD), has been experiencing tremendous growth as researchers continue to unlock its potential across a wide range of medical conditions.
Singlepoint Inc (OTCMKTS:SING) trumpets itself as a company that provides mobile technology and marketing solutions for small to mid-size businesses, nonprofits, and religious organizations. Its solutions enable clients to conduct business transactions, accept donations, and engage in targeted communication through mobile devices.
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The company offers Text2Bid, a mobile bidding solution that allows users to bid in auctions from text or Web-enabled phones; Donate by Text, a solution that allows nonprofits to securely collect donations via text; Pay by Text that allows customers to pay for products using their mobile phones; and Point of Sale terminals to provide customers the convenience of using debit/credit cards right at checkout.
It also provides Oomy, a solution that enables companies to track and manage their fleet vehicles, drivers, and deliveries; text mobile marketing solutions; SingleSwipe that enables customers to turn any device into a point of sale payment processor with the SingleSwipe card reader; and other solutions.
SING was formerly known as Carbon Credits International, Inc. and changed its name to SinglePoint, Inc. in February 2013. The company was founded in 2006 and is headquartered in Phoenix, Arizona.
According to company materials, “SING 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. The company recognized the strength in acquiring interest in undervalued subsidiaries in other markets to create a diversified holding base.”
“We have been working very hard on making acquisitions and inside sales to boost revenue,” said SING CEO Greg Lambrecht in a press release announcing the partnership. “This new business will contribute significantly to our revenue goals.”
The deal has some synergies in place. For example, according to our research, Premier Biomedical benefits from the mass manufacture of its topical pain relief products, which will help the company aggressively expand its distribution network through retail outlets, health care facilities, pharmacies, and various online shopping platforms.
“We are excited that we found a volume supplier for our products,” said Premier Biomedical President & CEO William Hartman in the same press release. “This significantly increases the company’s initiatives and enables us to grow revenues through expansion of sales volumes in both domestic and foreign markets. We look forward to working with SING to continue bringing current and future planned new products [to market].”
Recent action has seen -5% pulled out of share prices for the stock. That said, market participants may want to pay attention to this stock. SING has a track record that includes a number of dramatic bounces. Furthermore, the listing has seen an influx in interest of late, with the stock’s recent average trading volume running 78% beyond what we have been seeing over the larger time frame.
At this time, carrying a capital value in the market of $12.13M, SING has a store ($282K) of cash on the books, which stands against virtually no total current liabilities. SING is pulling in trailing 12-month revenues of $717. However, the company is seeing declines on the top line on a quarterly y/y basis. You can bet we will update this one again as new information comes into view. For continuing coverage on shares of $SING stock, as well as our other hot stock picks, sign up for our free newsletter today and get our next hot stock pick!
Disclosure: we hold no position in $SING, either long or short, and we have not been compensated for this article.