Singlepoint, Inc. (OTCMKTS: SING) has been topic of discussion for us for some time here at Street Register, especially given the company’s shifts in direction that led it to become involved in two of the trendiest market spaces right now: Cannabis, and Cryptocurrency. Despite the differences in the two , there is actually a huge opportunity for crossover.
Anything ‘crypto’ or Bitcoin related is going to be exceedingly hot right now to begin with. It seems just a short time ago we were lauding the crossing of the $5000 threshold for bitcoin, yet new all time highs have been reached many times since then, with the value of a single Bitcoin, or BTC, going over $6600 this week, with no end in sight.
That’s why we want to refocus on Singlepoint, Inc. (OTCMKTS: SING) today, as anything with Bitcoin ties is going to have ever-increasing visibility with the current and ongoing state of Cryptocurrency hysteria. Not to mention the cannabis sectors dearth of secure payment options. It places SING in an interesting position.
UAHC Ventures, LLC, a wholly-owned subsidiary of United American Healthcare Corporation ,recently invested $600,000 in SING. In exchange for UAHC Ventures’ investment, SING has issued UAHC Ventures both a Secured Convertible Promissory Note in the original principal amount of $670,000 and a warrant to purchase 5,000,000 shares of SING’s common stock. Monthly redemption payments due under the financing begin twelve months following the close of the transaction and may be made in cash or by converting redemption amounts into shares of SING’s common stock.
UAHC Ventures was formed to pursue strategic investment opportunities in high growth industries. SING specializes in the development of mobile bitcoin payment platforms which will be designed to meet the high demand for customer payments solutions in the cannabis and medical marijuana industry. In that way, it’s a very synergistic relationship.
“The cannabis and medical marijuana industry has seen tremendous growth in the last several years as various states modify their respective regulatory environments,” said John Fife, President of UAHC Ventures, LLC. “Although states have implemented new legislation, federal banking regulations have not allowed for cannabis businesses to bank in a normal manner, creating a tremendous need for other commerce solutions. We believe the demand for mobile payment customer solutions that leverage cryptocurrencies will experience similar growth and SinglePoint specializes in developing and implementing mobile e-commerce platforms in varying industries. This provides SinglePoint with a significant competitive advantage and market opportunity as they continue to refine their cannabis and medical marijuana industry specific applications.”
We’ve also learned this week that SING is on the verge of striking another arrangement, this time with publicly traded company, AppSwarm Inc (OTCMKTS:SWRM) in a potential a shared roll-out of mobile applications specifically geared to the cannabis industry. The applications will be modeled and marketed under SinglePoint’s SingleSeed subsidiary, while AppSwarm will provide the necessary technical support and application development.
The cannabis market is apt for technology that can advance productivity and workflows. AppSwarm and SinglePoint intend to develop mobile applications that address these industry needs by creating a system that allows a business to see what is going on in the market around them. The mobile apps created will also modernize the consumer experience by adding in SinglePoint’s payment features, as well as a multitude of other functionalities.
So that’s multiple things that SING has going for it at the moment. It’s involvement in two of our current favorite market spaces, as well as having multiple irons in the fire, and multiple partnerships to further its growth. All we need now is for the stock to reflect the big potential that we feel the company has. It has been trading sideways for a awhile now, and could be due for its next run at any time. Stay locked to Street Register for updates, and we’ll deliver important developments on SING as they unfold. In the meantime, if you’ve yet to sign up for our 100% free newsletter, do so now! Just enter your active email address into the box below and submit!
Disclosure: No one at Street Register has been compensated in any way for the publishing of this article, nor do we hold any position in SING stock, short or long.