Specialized holding company SinglePoint, Inc. (OTC: SING) this morning announced its acquisition of a 51 percent stake in JAG, a Denver-based group. Through July 2017, the newly-acquired JAG recorded $600,000 in revenue with gross margins of roughly 26 percent. These results followed full-year 2016 revenue of $700,000 and continued to build on the company’s trend of consistently achieving year-over-year growth since commencing operations in 2014. “We are very excited for this opportunity as it dramatically increases SinglePoint revenues and profitability,” Greg Lambrecht, CEO of SinglePoint, stated in the news release. “We look forward to continuing investing in and growing SinglePoint’s operations while acquiring other companies to generate additional growth. With this latest investment, we are properly capitalized, better than ever before, and will aggressively push forward on both internal and external growth opportunities.” With this latest announcement, SinglePoint has now closed on four acquisitions year-to-date. This aggressive diversification strategy coincides with SinglePoint’s ongoing efforts to develop an internal mobile application geared at companies that offer last-mile delivery services.
To view the full press release, visit http://dtn.fm/4zTD2
About SinglePoint, Inc.
SinglePoint, Inc. (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. For more information visit www.SinglePoint.com
About QualityStocksNewsBreaks
QualityStocksNewsBreaks provide a rapid summary of corporate news that catch the attention of QualityStocks. QualityStocksBreaks are designed to keep investors up to date on important and breaking news in the small-cap and micro-cap markets. Spanning all industries, including energy, entertainment, telecommunications, healthcare, retail and more, these news breaks deliver opportunities the investment community may have missed. Whether it is earnings results, mergers and acquisitions, or any other market-moving news, our news breaks keep you in the know. QualityStocks is committed to connecting subscribers with companies that have huge potential to succeed in the short and long-term future. It is part of our mission statement to help the investment community discover emerging companies that offer excellent growth potential.
QualityStocks (QS)
Scottsdale, Arizona
www.QualityStocks.com
480.374.1336 Office
Editor@QualityStocks.com
Please see full terms of use and disclaimers on the QualityStocks website applicable to all content provided by QS, wherever published or re-republished: http://www.qualitystocks.net/disclaimer.php
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment