PHOENIX, AZ--(Marketwired - May 15, 2014) - SinglePoint, Inc. (OTC: SING), a state-of-the-art mobile technology and full-service mobile marketing company, announced today it has posted its most recent quarterly results to OTC Markets. The company reported revenues of $263,000, a dramatic 1,700% increase from the $14,819 reported for the same quarter last year.
The dramatic increase is due to SinglePoint's efforts to build a profitable company from the ground up. Last quarter, the company signed a Letter of Intent to acquire Scottsdale, Arizona-based Drive Media Networks, which will enable SinglePoint to install digital screens in legal cannabis dispensaries. It also entered into a joint venture with Motivity Labs to develop mobile applications. Additionally, SinglePoint CEO Greg Lambrecht has been very successful in raising $293,431 in recent months, while at the same time paying down $100,000 in debt to strengthen the company's balance sheet toward overall growth and increase in shareholder value.
"SinglePoint is now well-funded and poised to enter the legal cannabis market quickly with our advanced mobile payments and mobile marketing technologies," said Lambrecht. "We are very excited for the weeks ahead, when we expect to make a series of announcements geared towards capitalizing on the wealth of opportunities in these markets. We look forward to establishing a strong foundation for exponential growth throughout 2014."
About Singlepoint, Inc.
Headquartered in Phoenix, AZ, Singlepoint, Inc. is a state-of-the-art mobile technology company and full-service mobile marketing agency. Its best-in-class mobile commerce and communication platform was specifically designed to serve the needs of both the non-profit and commercial sectors, making any campaign instantly interactive via the mobile phone. SinglePoint's platform enables its clients to conduct business transactions, accept donations and engage in targeted communication campaigns with their customers/donors through any mobile device. For more information, please visit www.singlepoint.com, "Like" Singlepoint on Facebook and follow us on Twitter.
Certain statements in this news release may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. All statements, other than statements of fact, included in this release, including, without limitation, statements regarding potential future plans and objectives of the Company, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Technical complications, which may arise, could prevent the prompt implementation of any strategically significant plan(s) outlined above. The Company undertakes no duty to revise or update any forward- looking statements to reflect events or circumstances after the date of this release.