SinglePoint, Inc. (OTCQB: SING) operates as a diversified holding company, primarily focusing on mobile payments, cannabis, and blockchain solutions. Shares of the holding company soared 42.80% on Tuesday, April 17, 2018. Over the past month, SinglePoint, Inc. has seen average daily volume of 7.8 million shares. However, volume of 52.93 million shares or dollar volume of $1.94 million shares, exchanged hands on Tuesday.
Shares of SinglePoint, Inc. jumped on Tuesday after the company announced that it has completed its PCAOB audit and is now taking the steps to filing the Form 10 document with the SEC. This would make SinglePoint, Inc. a fully-reporting company. Management says the latest developments should help attract more attention from institutional and accredited investors. Here is the full press release detailing of the updates:
SinglePoint, Inc. Press Release:
SEATTLE, April 17, 2018 (GLOBE NEWSWIRE) — via OTC PR WIRE–SinglePoint (OTCQB:SING) is pleased to announce the finalization and successful completion of PCAOB corporate audit. SinglePoint has been working side by side with Turner Stone and Company in order to complete the 2016 and 2017 corporate audit and will now take the necessary steps to become fully reporting by filing a Form 10.
Completion of the corporate audit and filing a Form 10 will give SinglePoint access to raise additional capital on better terms for the company. Additionally, the company believes this will open the doors for institutional and family offices to invest in the open market, provide increased investor confidence and improve shareholder value. This will provide the company the means to aggressively continue its acquisition strategy and development of the company’s blockchain and cannabis payment solutions.
“We as management are very excited to have completed the audit. We have already received term sheets from potential capital partners to raise up to $20,000,000 on friendly terms. This is a major step for the company and I am very confident, more so than ever, in the company’s ability to successfully build upon the solid infrastructure we now have. Currently there are three acquisition targets in negotiations. We look forward to closing these deals and continue expansion into the cannabis market,” states Greg Lambrecht CEO SinglePoint.
About SinglePoint, Inc.
SinglePoint, Inc (SING) is a technology and investment company with a focus on acquiring companies that will benefit from the injection of growth capital and technology integration. The company portfolio includes mobile payments, ancillary cannabis services and blockchain solutions. Through acquisitions into horizontal markets, SinglePoint is building its portfolio by acquiring an interest in undervalued companies, thereby providing a rich, diversified holding base. Through its subsidiary company SingleSeed, the company is providing products and services to the cannabis industry.
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.