PHOENIX, June 17, 2021 /PRNewswire/ -- SinglePoint Inc. (OTC: SING) ("SinglePoint" or the "Company"), a company focused on providing renewable energy solutions and energy-efficient applications to drive better health and living, today provided a business update.
Since recently being appointed CEO, Wil Ralston is focused on improvements to the Company's operations, analyzing the current business and assets, and executing strategic directives and initiatives designed to improve the current and future outlook for SinglePoint and its shareholders. SinglePoint has taken catalytic steps and necessary actions designed to transform the traditional solar energy model and to drive accelerated growth of its national footprint. With the completed acquisitions of Direct Solar America, EnergyWyze, LLC and Box PureAir, LLC, SinglePoint is driving its vision of creating a National network of renewable energy services and products that promote a cleaner sustainable lifestyle while minimizing the impact on the environment and expects to generate continued growth.
Recent Business Highlights
- SinglePoint is in ongoing discussions with multiple renewable energy operators for potential transaction(s). The Company has initially targeted profitable EPC providers installing a minimum of $7,500,000 to well over $10,000,000 a year in solar panels to companies advancing the future of renewable energy and providing services internationally. SinglePoint will continue to search for companies that align with its growth strategy to firmly position the Company as a leader in the space.
- SinglePoint continues to drive the success of its business through the strengthening of its balance sheet. The Company has implemented ongoing efforts to eliminate debt liabilities over the course of the year. Throughout the past quarter, SinglePoint has significantly decreased its liabilities again continuing to improve the fundamentals. With a continued focus on creating positive shareholder equity, the Company believes it will be positioned to expeditiously achieve listed exchange requirements and eliminate hurdles moving forward.
- The Company's subsidiaries, Box PureAir and Energy Wyze continue to drive business.
- May 2021, Box PureAir announced the opening of its office and sales center and its initiatives to establish Charleston, South Carolina as "America's first clean air city." Box PureAir has commitments from franchisees representing three of the top ten fast food chain restaurants in the United States to install units to protect their customers and employees by improving indoor air quality by creating a safe air zone as local and regional restrictions for indoor dining are lessened or eliminated.
- Since its acquisition, Energy Wyze has onboarded new clients and systems and has begun working with many of the solar industry's top tier companies. In its first month following the acquisition, Energy Wyze achieved significant strides and currently sells multiple hundreds of leads and appointments to some of the nation's leading solar providers who are looking to increase their residential solar sales and installation rates. Additionally, Energy Wyze has expanded its service to include Home Energy efficiency and additional markets that complement the healthy living and renewable energy industries.
"SinglePoint is diligently working to build a profitable, sustainable business that has the potential to drive significant growth opportunities. Our ultimate goal is to increase value for shareholders, our partners and acquired companies, and we have continued to implement and execute the strategies we believe are needed in order to do that," stated Wil Ralston, incoming Chief Executive Officer of SinglePoint. Adding "We recently launched a strategic review process as we believe there are opportunities to unlock additional significant value and optimize our business plan and establish SinglePoint as a leader in the industry. We look forward to the rollout of our strategic plan this summer. We have built a strong team that is focused on execution within our business segments. Our team, myself and the partners with whom we are working, are committed to driving a bright future consisting of performance and delivering significant progress in building out valuable, profitable business segments."
Strategic Review to Ensure Near- and Long-Term Value
SinglePoint remains focused on efforts to analyze, improve, and expand its existing solar businesses while exploring additional accretive opportunities and partnerships in healthy living and renewable energy applications. The Company will continue to look for accretive prospects in an effort to create a national network in the sector. Wil Ralston, in his recently appointed role as Chief Executive Officer, has launched a strategic review of the Company's business to ensure optimization and growth opportunities. The Company expects to provide updates regarding its strategic review in early third quarter of 2021.
About SinglePoint Inc.
SinglePoint Inc. is a renewable energy and sustainable lifestyle company focused on providing environmentally friendly energy efficiencies and healthy living solutions. SinglePoint is initially focused on building the largest network of renewable energy solutions and modernizing the traditional solar and energy storage model. The Company is also actively exploring future growth opportunities in air purification, electric vehicle charging, solar as a subscription service, and additional energy efficiencies and appliances that enhance sustainability and a healthier life. For more information, visit the Company's website (www.singlepoint.com) and connect on LinkedIn and Twitter.
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 plans and objectives of the Company, the use of proceed, anticipated growth and future expansion, 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.
JTC Team, LLC
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SOURCE SinglePoint Inc.