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Singlepoint Inc. (OTCMKTS: SING) Reports Q2 2021 Financial Results With Total Assets Growing 304% YoY

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Singlepoint Inc

Singlepoint Inc. (OTCMKTS: SING) announced its Q2 2021 operational and financial results and provided a corporate update. 

Singlepoint had revenue of $0.854 million in Q2 2021

At the end of the quarter, the company had $854,589 in cash compared to $76,476 in Q2 2020. Revenue for the quarter was $454,822 versus $395,277 a year ago. Singlepoint’s total assets were $1.597 million at the end of June 30, 2021, representing a 304% YoY increase. 

The company is expanding and improving its current solar business to add to the North American footprint, with the solar market anticipated to more than quadruple in the next decade. In addition, Singlepoint is considering other accretive partnerships and opportunities in rene4able energy and healthy living applications. 

CEO Wil Ralston said, “We have made considerable progress throughout the first half of 2021, including listing on the OTCQB. Our team is focused on increasing value for shareholders and growing our subsidiaries, and we are dedicated to implementing the strategic initiatives and continuous improvements necessary to deliver consistent results. We believe we have the right people in place to help us unlock the full potential of SinglePoint Inc. for our shareholders. Additionally, the strategic review that is currently underway will highlight key initiatives and illuminate our path forward to maximize value and opportunities for growth.”

Q2 2021 business updated 

During the quarter, the company implemented its ongoing efforts to enhance its cash position, including a considerable decrease in current liabilities and warrants eliminations. Also, its subsidiary, Direct Solar of America, enhanced its senior leadership management team by adding an experienced solar sector executive.

Singlepoint launched a strategic business strategy review meant to identify and leverage its current platform to optimize long and near-term opportunities. Ralston was appointed as CEO and Director during the quarter, having served previously as president and director. Also, the company completed  Box PureAir LLC and EnergyWyze LLC’s acquisitions in Q2 2021 as the company expands its operations.

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