Overview

We are a company 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, products, 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. We intend to spin-off additional assets or non-core subsidiaries in the future.





Plan of Operation

We are a company whose core subsidiaries include solar. We built our portfolio by acquiring undervalued companies, providing a rich, diversified holding base. The Company looks to acquire businesses and build brands based on technology solutions we believe will increase efficiencies across various markets. We intend to spin-off additional assets or non-core subsidiaries in the future.

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, 2021.

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, 2021.





Results of Operations

Financial Condition and Changes in Financial Condition





Overall Operating Results:

Comparison of the Three Months Ended March 31, 2021 with the Three Months Ended March 31, 2020

Revenue. For the three months ended March 31, 2021, we generated revenues of $239,013 as compared to $1,075,222 for the three months ended March 31, 2020. The decrease of revenue was due primarily to the seasonality of solar installs and the implementation of the new post pandemic business model.

Cost of Revenues. For the three months ended March 31, 2021 cost of revenue decreased to $304,739 from $765,608 for the three months ended March 31, 2020. The decrease was mainly due to decreased expenses incurred with business operations.

Consulting fees. For the three months ended March 31, 2021, consulting fees decreased to $60,331 from $137,016 for the three months ended March 31, 2020, primarily due to reduced utilization of consultants during the three months ended March 31, 2021.

Investor Relations. For the three months ended March 31, 2021, investor relations expense increased to $167,355 from $43,784 for the three months ended March 31, 2020, primarily as a result of the addition of a strategic IR Firm and increased expenses of conferences during the three months ended March 31, 2021.

General and Administrative Expenses. Our general and administrative expenses increased to $697,450 for the three months ended March 31, 2021 from $690,972 for the three months ended March 31, 2020.

Other Income (Expense). For the three months ended March 31, 2021, other expense was ($248,720), compared to other expense of ($1,242,664) for the three months ended March 31, 2020. The decrease in other expense was primarily due to reduction of interest, amortization of debt discounts and change in fair value of derivative liabilities.

Net Income (Loss). The Company's net loss attributable to Singlepoint Inc stockholders was ($1,141,731) compared to net loss of ($1,879,279) for the three months ended March 31, 2021 and 2020 respectively. The decrease in net loss was mainly due to the decrease in expenses.






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Liquidity and Capital Resources

We are an early stage company and have generated insufficient revenue to date. We have incurred recurring losses to date. Our financial statements have been prepared assuming that we will continue as a going concern and, accordingly, do not include adjustments relating to the recoverability and realization of assets and classification of liabilities that might be necessary should we be unable to continue in operation.

The Company had $1,691,686 in cash as of March 31, 2021. The company has total stockholders' equity of approximately $1,325,685 as of March 31, 2021. As of March 31, 2021, 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 $2.5 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), including but not limited to the current outstanding convertible notes. Except as mentioned above, the Company has no committed external source of funds, and there is no guarantee we would be able to raise such funds. 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.





Operating Activities

Cash used in operating activities - Net cash used in operating activities was $997,882 for the three months ended March 31, 2021 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 from in investing activities -During the three months ended March 31, 2021 the Company had $25,000 used for investing activities, the acquisition of Energy Wyze.





Financing Activities

Cash flow from financing activities - 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, 2021, 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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