- SinglePoint Inc. is expected to promote 100 percent American hemp cigarettes at the National Association of Convenience Stores Exhibition
- SING subsidiary Direct Solar of America recently detailed operations relating to a hemp distribution center
- SING’s CEO forecasts revenues of more than $10 million for its solar division in 2020
SinglePoint Inc. (OTCQB: SING) will be showcasing a 100 percent American-grown hemp cigarette, its latest product by Pure, at booth 5653 of the National Association of Convenience Stores (NACS) Exhibition. Products at this exhibition, which is attended by more than 23,000 participants, gain industry exposure by being displayed to major chain stores.
NACS is one of the largest and most-respected platforms for participants to grow their market base. “I am very excited to be back at NACS,” SinglePoint CEO Greg Lambrecht stated in a news release (http://ibn.fm/gjihj). “In ‘96, I was distributing cigars at this show and that ended up growing to 30,000 accounts stemming from this show.”
Although smokable hemp flowers currently represent only two percent of the cannabis market, as per statistics from Brightfield Group, a Chicago-based cannabis market research firm, smokable hemp is one of the fastest-growing segments of the CBD-hemp market. This projected growth prospect could prove profitable for companies such as SinglePoint operating in the ancillary cannabis sector. The company is also looking at white-labeling opportunities through marketing of American hemp cigarettes.
As a part of its expansion efforts to tap into the hemp market, as well as a way to synergize its various revenue earners, SinglePoint recently announced a new venture by its standout subsidiary, Direct Solar of America. Direct Solar is involved in a pioneer hemp-distribution center along with the GSX International Group and other corporations. The subsidiary will not only provide energy resources to the production and distribution centers; it will also supply energy to farmers in the co-op (http://ibn.fm/bHJIQ). The burgeoning hemp market is projected to grow from $4.6 billion in 2019 to $26.6 billion by 2025 (http://ibn.fm/QraXI).
Being involved with an organization that is working to combine the resources of small hemp farmers and establish centralized processing and distributions centers looks to be a smart move for Direct Solar and SinglePoint, which stand to benefit from the collaboration. The overall profit potential is significant, given solar tax incentives and opportunity zone exemptions.
“Our services will offer an extremely unique value add that cannot be easily replicated,” Lambrecht added. “This will create a natural barrier to entry for other competitors in the future, thus giving us a long-term competitive advantage. Additionally, the solution will provide almost instant stability to the hemp market while generating substantial profits.”
In an interview on the RedChip Money Report, Lambrecht noted that SING could realize a revenue curve rate from Direct Solar of America of $6 million to $7 million in 2019 and $10 million to $12 million in 2020. Lambrecht said that the estimated numbers were based on the installation of larger commercial solar panels by the company, the role of government state subsidies and commercial financing support (http://ibn.fm/6gkTG).
SinglePoint operates across various industry multiples and holds a diverse portfolio of undervalued subsidiaries with multiple revenue streams. The company’s visionary leadership team has led SING to explore and venture into the high-performing cannabis market.
For more information, visit the company’s website at www.SinglePoint.com
NOTE TO INVESTORS: The latest news and updates relating to SING are available in the company’s newsroom at http://ibn.fm/SING
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