- SinglePoint’s CEO said in an interview that SING sold $3 million in solar contracts in its first 60 days of selling to commercial accounts; he forecasts that the company could reach $7 million in sales by the end of 2019
- SING aims to generate $10 million to $12 million in solar sales in 2020, with government subsidies and commercial financing driving revenue
- The company is also looking at white-labeling opportunities available through SING’s marketing of American hemp cigarettes
SinglePoint Inc. (OTCQB: SING) CEO Greg Lambrecht said in an interview on the RedChip Money Report that SING could realize a revenue trajectory rate from its Direct Solar of America division of $6 million to $7 million in 2019 and $10 million to $12 million in the following 12 months. Keys to the impressive numbers, Lambrecht pointed out, have been the company’s expansion to larger commercial solar installations, the role of government state subsidies and available financing (http://nnw.fm/L7p18).
In its first 60 days of selling to commercial accounts, such as small and mid-sized businesses, SING’s solar entity sold some $3 million in contracts representing $700,000 in gross profit, according to Lambrecht. “We are looking at a trajectory rate of maybe $6 million to $7 million this year and maybe $10 million to $12 million the following 12 months,” he said during the interview.
According to Lambrecht, sales are being driven by state government subsidies and available financing. “Instead of doing just $30,000 residential jobs, we are now looking at the next step,” he added. “We’re looking at doing $250,000 to $1 million jobs.” He noted that, long term, the company has the ability to grow as high as $20 million to $50 million.
During the interview, Lambrecht outlined SinglePoint’s customer sales strategy. “We bring them the finance,” he said. “We bring them all the rebates they have in that state. And we bring them the installer. We hold that customer’s hand from A to Z.” He noted that the company is doing especially well in St. Louis and Chicago.
Direct Solar of America, a subsidiary of SinglePoint, has added Direct Solar Capital as an alternative-energy financing solution that is able to finance solar capital-ready projects in amounts ranging from $50,000 to $3 million.
In a second interview, SING President Wil Ralston said on Money TV with Donald Baillargeon that SING is the “racehorse that just keeps on running.” Ralston reaffirmed that the move to larger solar commercial installations – from $500,000 to $1.5 million – on small to mid-sized commercial buildings is generating larger contracts and higher sales for the company (http://nnw.fm/pc2lY).
On another topic, Ralston was optimistic about SING’s role as a “master distributor” of cigarettes sourced from 100 percent American-grown hemp, designated by the company name Pure Products LLC. “We’re very excited about the market size for this particular product,” Ralston said in the MoneyTV interview. “We are able to sell directly to retail as well as into other wholesale distribution accounts which will give us the opportunity to expand this quickly.” Ralston reported that SinglePoint will be active in trade shows every month for the remainder of the year (http://nnw.fm/uJt76).
“We have white-labeling opportunities in hemp cigarettes,” Ralston said in the interview. “We have different customers inquiring about marketing their own brands.” He added that SING has already received inquiry calls from several distributors on the East Coast, where hemp cigarettes are a popular product.
For more information, visit the company’s website at www.SinglePoint.com
NOTE TO INVESTORS: The latest news and updates relating to SING are available in the company’s newsroom at http://nnw.fm/SING
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Direct Solar of America is a subsidiary of SinglePoint Inc., a technology and acquisition company. (OTCQB: SING). Direct Solar America is America’s Solar Energy Brokerage with more than 3,500 home installations, which has enabled residential solar customers to shop for options in order to find the best option for the home. Like Rocket Mortgage or Lending Tree, Direct Solar representatives provide homeowners with a variety of financing and service providers; this has made the process of buying solar much easier for homeowners. Direct Solar is operational in eight states and continues to expand its residential solar footprint. Direct Solar Commercial serves customers that own and/or manage commercial properties. Along with Direct Solar Capital, an alternative energy financing solution, commercial projects have access to $50,000 to $3 million in funding for solar installations.
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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.