Singlepoint, Inc. (OTC:$SING) is an exciting small caps stock that has seen a spectacular rise up from the beginning of this year from $0.0075 lows to recent highs near $0.15.
Particularly, Singlepoint has been involved in Bitcoin and digital currencies as well as the Cannabis sector- which together has contributed immensely to its profit margins over the past year.
Initially, the company coined itself as a mobile technology provider to a publicly traded holding company. Through diversification into horizontal markets, Singlepoint has expanded its portfolio by acquiring an interest in undervalues subsidiaries, thereby providing a rich, diversified holding base.
Earlier this year, Singlepoint closed a $1 million Convertible Promissory Note with institutional investors. Proceeds from the investment will be used to execute the company’s previously announced BitCoin payments solution, as part of its partnership with First BitCoin Capital (OTC:$BITCF).
CEO of SinglePoint, Greg Lambrecht stated: “This is great timing for SinlgePoint. We have many acquisitions deals in the pipeline, and access to this capital will exponentially increase the chances of getting these done. In addition, we have many technical developments that are ready to launch.”
Particularly, SinglePoint has started constructing an in-house solution enabling consumers to obtain Bitcoin at any point of sale. This new solution can be utilized by any cannabis and medical recreational dispensaries as a convenient source of payment service. Such service is KYC-AML compliant.
SinglePoint is currently trading at a $53 million market valuation.
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