SinglePoint Completes 2 Year Financial Statement Audit With Plan to Uplist
SEATTLE, WA -- (Marketwired) -- 05/11/16 -- SinglePoint Inc. (OTC: SING) is pleased to announce to shareholders that it has officially completed its initial 2 Year PCAOB audit of its financial statements for the two years ended December 31, 2014, with an audit of 2015 underway.
This completed audit will allow SinglePoint to move forward with plans to file a Form 10 Registration with the SEC and become a fully reporting company. Once filed, the Company plans to uplist to a senior exchange or tier.
CEO Greg Lambrecht is confident the Registration will give SinglePoint access to institutional investors alongside the Company's aggressive plans for growth through acquisitions, while at the same time giving significant increase to market confidence and overall shareholder value.
"This is a major milestone for us. The audit has been a large undertaking and I am grateful to shareholders for their patience. This allows us the opportunity to take a major step without sacrificing bandwidth on our focused goals, including the rollup acquisition initiative in the Daily Sports Fantasy realm and the forthcoming acquisition of Text2Bid™, the world's leading provider of mobile auction technology."
Text2Bid is a dynamic mobile and payment solutions company partnered with Maestro Software. The company has shown cumulative growth over the last 5 years and provides technology for an $18 billion market space.
As well the company is finalizing negotiations toward an acquisition in DraftFury (www.draftfury.com), a competitive enterprise in the Daily Fantasy Sports arena.
SinglePoint's securities attorney is preparing the Registration Statement that will be available for shareholders via EDGAR once filed.
SinglePoint is a full-service mobile technology and marketing provider. We provide solutions that allow our clients to conduct business transactions, accept donations, and engage in targeted communication through mobile devices. Our products connect small to mid-size companies to their target markets by providing innovative mobile technology at reasonable rates. www.singlepoint.com
The Public Company Accounting Oversight Board (PCAOB) is a private-sector, nonprofit corporation created by the Sarbanes-Oxley Act of 2002 to oversee the audits of public companies and other issuers in order to protect the interests of investors and further the public interest in the preparation of informative, accurate and independent audit reports. Since 2010, the PCAOB also oversees the audits of broker-dealers, including compliance reports filed pursuant to federal securities laws, to promote investor protection. All PCAOB rules and standards must be approved by the U.S. Securities and Exchange Commission (SEC). In creating the PCAOB, the Sarbanes-Oxley Act required that auditors of U.S. public companies be subject to external and independent oversight for the first time in history.
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 May 11, 2016