We often talk about “transparency” as one of the most important steps a small or microcap company can to up its credibility and juice, and SinglePoint, Inc. Common Stock (OTCMKTS:SING) is vying to become another good example of that theme. With shares rising as much as 105% in the past month, the stock has already been drawing some eyes. But its latest move could amplify the impact of the company’s growth data and future plans.
To put that possibility on the table, the company just announced the successful completion and filing of the company’s Form 10 Registration Statement with the Securities and Exchange Commission. According to the release, the company noted that “This is an important step in helping the company establish credibility in the investment community.” Generally speaking, we can agree with that sentiment.
SinglePoint, Inc. Common Stock (OTCMKTS:SING), aside from its recent pivot into the crypto space, 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.
SING’s portfolio includes; 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.
SING 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.
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.”
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Recent action has seen 90% added to share values of the listing over the past month of action, a rally that has pushed up against longer standing distributive pressure in the stock. Furthermore, the listing has seen interest climb, with an increase in recent trading volume of a bit over 150% beyond what we have been seeing over the larger time frame.
“We are ecstatic to have this completed and filed. We feel it really sets the company up for future successes. It’s a great foundational block to be fully reporting and provide the level of transparency to everyone that may become involved with the company. We believe that his level of transparency can accelerate our potential growth,” states Wil Ralston President SinglePoint.
At this time, carrying a capital value in the market of $58.3M, SING has a reserve ($334K) of cash on the books, which must be weighed relative to about $203K in total current liabilities. SING is pulling in trailing 12-month revenues of $334K. In addition, the company is seeing major top-line growth, with y/y quarterly revenues growing at 18080.8%. We will update the story again soon as developments transpire. Sign-up for continuing coverage on shares of $SING stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!
Disclosure: we hold no position in $SING, either long or short, and we have not been compensated for this article.