SinglePoint, Inc. (OTCMKTS:SING) projects $1 million in revenue for the 2018 fiscal year which the company expects to triple next year if President Trump assents to the 2018 Farm Bill. This among other projections was discussed by the company recently as it closes in on the end of the year.
The horizontally diversified technology company with vast interests in mobile payment, the cannabis sector and the futuristic Blockchain solution market has had an exemplary run this year managing to pull off an outstanding number of acquisitions which is expected to catapult the company’s revenue to the projected marks.
This year alone through its CBD-based entity, SingleSeed, the arm responsible for the distribution of its CBD products, the company was able to enlist more products while at the same time forging strategic partnership with key leaders in the industry. The company is keen on seeing its CBD subsidiary gaining a great market presence in the Cannabis sector that experts project will have a market capitalization of near $600 million by the end of the year and approximately $22 billion by 2022 in the event that the 2018 Farm bill passes the last critical stage.
The company is currently working on having a strong distribution network for its products both digitally and through retail distribution channels. SinglePoint is banking on its CBD-arm to lead in the revenue stream next year. The company recently unveiled LastMile Delivery, an application expected to streamline the CBD products delivery system. The App was developed in collaboration with AppSwarm (SWRM).
The company is already working with local dispensaries that users with the Application can find a close dispensary and order products through the app. To augment its Cannabis wing, SinglePoint has invested in multiple cannabis-related businesses in 2018 including Jacksam DBA Convectium in which the company owns 9% stake. SinglePoint also has a deal with DIGS under which the latter fulfills cannabis orders for SingleSeed.
Technology and Automotive Sectors
Spicing up the cannabis business with a touch of cryptocurrencies, the company developed SingleCoin, a Bitcoin wallet facilitating crypto transactions that supports BTC and ETH. Singlepoint also invested in the automotive space through Shildsaver and later acquired JAG. The company expects to continue with the acquisition spirit in 2019 believing that its existing entities would have gained traction.