SinglePoint Expects Significant Revenues Increase as Cannabis Subsidiary Receives Initial Payment for New Major Purchase Order
SEATTLE, WA -- (Marketwired) -- 06/27/17 -- SinglePoint (OTC: SING) announces that its recently acquired DIGS Hydro subsidiary has received a major purchase order from Premier Biomedical (OTCQB: BIEI). DIGS Hydro has received the initial payment with final payment due on delivery. Based on recent discussions between the parties, Premier Biomedical plans to continue to order its supplies from DIGS Hydro, a provider of a variety of supplies and services specifically to the cannabis industry.
"This opportunity for both SinglePoint and DIGS Hydro is fantastic. We have been working very hard on making acquisitions and inside sales to boost revenues. To have this subsidiary execute on its business plan and generate major revenue for SinglePoint is exactly what we want to see. We are very excited about the second quarter financials and showing the significant revenue increase," SinglePoint CEO Greg Lambrecht states.
Premier Biomedical offers a rounded suite of products, and with DIGS Hydro has found a reliable supplier of additional products. The synergies between Premier Biomedical, DIGS Hydro and SinglePoint enable each company to quickly and efficiently grow their operations.
William Hartman CEO and co-founder for Premier Biomedical states, "We are excited we found a supplier for the products we need. This significantly increases the company's initiatives and enables us to grow the revenue of the offerings we have. We look forward to working with DIGS Hydro and SinglePoint to continue building our relationship together."
DIGS Hydro, of which SinglePoint owns a 90% stake (http://nnw.fm/oh7ZW), has two brick-and-mortar retail stores and has plans to open a third. As evidenced by today's news, SinglePoint's acquisition-based revenue growth strategy is gaining traction. As a result, SinglePoint expects to report a significant increase in revenues in its second-quarter financial statements. The acquisition of DIGS Hyrdo has also enabled SinglePoint to make numerous contacts in the cannabis industry, most of which are potential acquisition targets or customers for one of the many offerings SinglePoint has developed.
SinglePoint is diligently working to develop viable solutions, and reports that potential clients are now starting to engage with the company. SinglePoint has acquired multiple companies in the cannabis space, and is pursuing additional acquisition opportunities in the wake of increased market attention and recognition. As part of its push to increase revenues in 2017 through acquisition and inside sales of the company services, management is negotiating multiple contracts and is onboarding new clients.
Further supporting these endeavors is SinglePoint's recent capital raise (http://nnw.fm/G8dn5) to fund additional projects such as Bitcoin Payments, currently in development (http://nnw.fm/7XlMo). This project has been green lighted and architecture for development has been completed. SinglePoint has engaged a recruiting firm to help find a block chain expert and is in negotiations with potential candidates. Additional announcements on timeline and delivery will be made soon.
About Premier Biomedical, Inc.
Premier Biomedical, Inc. (OTCQB: BIEI) is a research-based publicly traded company that intends to discover and develop medical treatments for a wide range of diseases in humans. Premier has obtained, via exclusive license agreements, the technology behind three granted U.S. patents, multiple pending provisional patents, and a PCT Europe National Patent. Founded in 2010, Premier has partnered with the University of Texas at El Paso (UTEP). The company's R&D efforts are centered in El Paso, Texas; its business offices are in Western Pennsylvania.
For more information, visit: http://www.premierbiomedical.com
About SinglePoint, Inc.
SinglePoint, Inc. (OTC: SING) has grown from a full-service mobile technology provider to a publicly traded holding company. Through diversification into horizontal markets, SinglePoint is building its portfolio by acquiring an interest in undervalued subsidiaries, 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.
Source: SinglePoint, Inc.
Released June 27, 2017