Overview

We are focused on providing renewable energy solutions and energy-efficient applications to drive better health and living. We currently have core subsidiaries including solar and air purification. We built our portfolio through synergistic acquisitions, and partnerships to provide a rich, diversified holding base. The Company's initial focus is on solar energy, and we are committed to building a foundation for future expansion opportunities and building brands based on technology solutions we believe will increase efficiencies across various markets. We strive to create long-term value for our shareholders by helping our partner companies to increase their market penetration, grow revenue and improve cash flow and that complement our desire to build a comprehensive national renewable energy network. The Company is actively looking for and executing on strategic initiatives to sell, partner with or spin-off other non-renewable energy related assets.





Critical Accounting Policies

Our significant accounting policies are more fully described in the notes to our financial statements included herein for the period ended March 31, 2022.

New and Recently Adopted Accounting Pronouncements

Any new and recently adopted accounting pronouncements are more fully described in Note 2 to our financial statements included herein for the period ended March 31, 2022.





Results of Operations

Financial Condition and Changes in Financial Condition





Overall Operating Results:

Comparison of the Three Months Ended March 31, 2022 with the Three Months Ended March 31, 2021

Revenue. For the three months ended March 31, 2022, we generated revenues of $1,551,542 as compared to $239,013 for the three months ended March 31, 2021. The increase revenue was due primarily to sales of air purification systems from our Box Pure Air division.

Cost of Revenues. For the three months ended March 31, 2022, cost of revenue increased to $1,369,516 from $304,739 for the three months ended March 31, 2021. The increase was mainly due to higher shipments of air purification systems from our Box Pure Air division.

Gross Profit. As a result of the foregoing, our gross profit was $182,026 for the three months ended March 31, 2022, compared with a loss of ($65,726), for the three months ended March 31, 2021. The increase in our gross profit was primarily a result of higher revenues from our Box Pure Air division.

Selling, General and Administrative Expenses ("SG&A"). Our SG&A expenses increased to $1,619,462 for the three months ended March 31, 2022, from $1,046,693 for the three months ended March 31, 2021. The increase was due primarily to higher general and administrative costs.

Other Income (Expense). For the three months ended March 31, 2022, other expense was ($60,337), compared to other expense of ($248,720) for the three months ended March 31, 2021. The decrease in other expense was primarily due to no loss on settlement of debt and change in fair value of derivative liabilities.






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Net Income (Loss). The Company's net loss attributable to SinglePoint Inc Stockholders was ($1,422,463) compared to net loss of ($1,361,139) for the three months ended March 31, 2022, and 2021 respectively. The increase in net loss was mainly due to the decrease in expenses.

Liquidity and Capital Resources

As of March 31, 2022, the Company has yet to achieve profitable operations, and while the Company hopes to achieve profitable operations in the future, if not it may need to raise capital from stockholders or other sources to sustain operations and to ultimately achieve viable operations. These factors raise substantial doubt about the Company's ability to continue as a going concern. The Company's principal sources of liquidity have been cash provided by operating activities, as well as its ability to raise capital. The Company's operating results for future periods are subject to numerous uncertainties and it is uncertain if the Company will be able to become profitable and continue growth for the foreseeable future. If management is not able to increase revenue and/or manage operating expenses, the Company may not be able to maintain profitability. The Company's ability to continue in existence is dependent on the Company's ability to achieve profitable operations.

To continue operations for the next 12 months we will have a cash need of approximately $3.0 million. Should we not be able to fulfill our cash needs through the increase of revenue we will need to raise money through outside investors through convertible notes, debt or similar instrument(s). The Company plans to pay off current liabilities through sales and increasing revenue through sales of Company services and or products, or through financing activities as mentioned above, although there is no guarantee that the Company will ultimately do so.





Operating Activities

Cash used in operating activities - Net cash used in operating activities was $634,885 for the three months ended March 31, 2022, primarily as a result of our net loss attributable to SinglePoint Inc stockholders of $1,422,463, partially offset by common stock issued for services in the amount of $240,000 and an increase of $442,754 in accrued expenses. Net cash used in operating activities was $997,882 for the three months ended March 31, 2022 primarily as a result of our net loss attributable to SinglePoint Inc stockholders of $1,141,731 and changes in inventory of ($220,858), offset partially by loss on debt settlement of $151,727 due to primarily due to settlement of outstanding convertible debt, and a change in accounts payable of $407,463 due to general operating activities





Investing Activities

Cash flow provided by (used in) investing activities -During the three months ended March 31, 2022, the Company had no cash flow provided by or used in investing activities. During the three months ended March 31, 2021, the Company used $25,000 for investing activities related to the acquisition of Energy Wyze.





Financing Activities

Cash flow from financing activities - During the three months ended March 31, 2022, our financing activities provided cash of $563,456 primarily from proceeds from the sale of common stock. During the three months ended March 31, 2021, our financing activities provided cash of $2,516,095 primarily from proceeds from the sale of Class C Preferred Stock of $760,000 and Class D Preferred Stock of $1,500,000.






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Off Balance Sheet Arrangements

We do not have any significant off-balance sheet arrangements that have or are reasonably likely to have a current or future effect on our financial condition, changes in financial condition, revenues or expenses, results of operations, liquidity, capital expenditures or capital resources that is material to investors.

Recent Accounting Pronouncements

During the three months ended March 31, 2022, there were no accounting standards and interpretations issued which are expected to have a material impact on the Company's financial position, operations or cash flows.

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