SinglePoint Archives - Green Market Report

Debra BorchardtApril 3, 2018
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Here are today’s cannabis news briefs for April 3, 2018:

MariMed Inc.

MariMed (MRMD) reported revenue of  $6.1 million in 2017, compared to $3.6 million in 2016, a year-over-year increase of 70.2%, primarily a result of higher sales at MariMed managed licensed cannabis businesses which in turn produce higher income for Company from fees, rents, and consulting. Gross profits were $ 3.5 million in 2017.  Gross profits rose to 58% compared to 55% in 2016. Operating Income was $1.2 million in 2017, compared to $775,000 in 2016, a year-over-year increase of 55.5%.

MPX Bioceutical Corporation

MPX Bioceutical  (MPXEF) has reported that its managed Arizona assets have recorded their best revenue month in March with sales of cannabis and cannabis concentrates hitting the US$4.0 (CDN$5.2) million mark for the first time. The revenue numbers are from assets under management in Arizona only and do not include operations in Nevada or those assets currently being developed in the States of Maryland and Massachusetts.

SinglePoint Inc.

SinglePoint (SING) announced the official launch of the freshly revamped SingleSeed.com website, focused on selling cannabidiol (CBD) based products direct to consumer. SingleSeed.com is now live and taking orders. Consumers can visit SingleSeed.com and use promo code SING on orders of $50 or more to receive a complimentary two-pack of the company’s hemp-based CBD capsules. The company is sourcing all of its CBD from U.S.-based hemp farms, all of which provide analysis of the product to ensure purity. SingleSeed is looking to position itself as the trusted, quality leader in the CBD market.

North American Cannabis Holdings

North American Cannabis Holdings (USMJ) and Puration have been working together on a strategic acquisition in Canada and a second strategic acquisition in California. The two acquisitions are intended to enter USMJ and PURA into the legal recreational marijuana markets of Canada and California. Specifically, through the acquisitions, USMJ plans to establish a branded marijuana grow operation and PURA plans to establish local extraction operations and introduce new cannabis-infused beverages. At the same time, the two companies are finalizing details on the two acquisitions, their respective current operations are realizing major milestones. USMJ’s concept cannabis restaurant operations continue to grow, fast approaching a million-dollar annual revenue benchmark, and with a new flagship location opening on the horizon.

One Step Vending Corp.

One Step Vending Corp. (KOSK), a holdings company operating in the convenience, vending, and micro markets space, has been working actively on releasing a new web platform for the sale of innovative brands CBD products online. Within the next 30 days, the Company will start a pilot program into the emerging multibillion-dollar industry of CBD and hemp related products. The e-shop will showcase some of the brands CBD and Hemp infused collaborations, including hemp and avocado body moisturizer, hemp infused bar soap and exfoliates, CBD gummies as well as the exclusive “VassoVape”. One Step Vending, Corp., will release the brand identity and e-shop design under the domain www.cbdkiosks.com, which is currently under construction. The company seeks to combine the e-shop business with the actual kiosks in its current locations to provide consumers with the CBD and hemp related products.

Chalice Festival

Southern California’s massive cannabis-infused music and art festival Chalice will return for its fifth year on July 13-15, 2018 with A-list music acts, world-renowned street artists and the world’s most celebrated hash makers and glass blowers. The festival’s music lineup this summer drives that point home, featuring headliners Bassnectar, Ludacris, Sizzla, Bone Thugs-N-Harmony, and Curren$y—alongside Pharcyde, Cut Chemist and Thriftworks, with Chalice’s full musician and artist lineup to be announced soon.

New to Chalice this year: With the recent arrival of legal adult-use cannabis in California, and with recreational marijuana sales now allowed inside some state fairgrounds, attendees at Chalice 2018 will be able to purchase and consume cannabis onsite. (Entrance will be restricted to those ages 21 or over.)

 

 


William SumnerMarch 7, 2018
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The world of blockchain just got a little bigger today. On Feb. 7, 2018, SinglePoint Inc. (SING) announced the soft launch of its SingleSeed payment bitcoin payments solution and provided an update on ongoing company operations.

Conceived of in 2014, the company initially held off on developing SingleSeed Payments due to a lack of market demand for cryptocurrency related products and services. Now that demand has caught up with the technology, SinglePoint has begun to fully commit to the blockchain/cryptocurrency market.

To serve this end, the company has taken several steps to shore up its blockchain brand, such as hiring serial entrepreneur Kevin Harrington to serve as spokesman for the company’s upcoming SinglePoint Cryptocurrency Exchange; which is expected to launch in the coming months.

Hoping to become as vertically integrated as possible, the company has entered a letter of intent with ORHub, Inc. to develop a private blockchain and has brought Venugopal Aravamudan, a tech industry veteran with more than 25 years of experiences, on to its board of directors.

The company has also begun developing, in collaboration with AppSwarm, its own cryptocurrency currency wallet, which will allow consumers and merchants to use to hold and utilize different currencies. Development of the wallet is nearing completion and should be pushed into testing within the next 10-14 days.

Outside of the cryptocurrency market, SinglePoint has been developing, once again in collaboration with AppSwarm, a cannabis delivery application called Oomy as well as a B2B e-commerce platform for the cannabis industry, dubbed SingleSeed.

The company is currently in the middle of its 2017 audit, being conducted by the auditing firm Turner, Stone and Company, and is expected to complete it within the next 30 days, upon which the company will file its Form-10.

“We are firing on all cylinders and pushing the boundaries to make SinglePoint a highly successfully, scalable company. I hope this breakdown of projects has provided the insight and confidence to our shareholders that we are heading in the right direction. We are happy to be in the position we are in and will continue to take advantage of the opportunities that present themselves,” said SinglePoint President Wil Ralston in a statement.


Debra BorchardtFebruary 27, 2018
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NewBridge Global Ventures, Inc. (NBGV) announced that it has acquired cannabis education company Elevated Portfolio Holdings, LLC in an all-stock transaction.

Elevated Education, Inc. will acquire the assets of Elevated in exchange for 2,000,000 shares of company common stock. Elevated Portfolio is a company that offers medically focused education modules for physicians and clinicians as well as significant training regarding the body’s endocannabinoid systems and the use of cannabis for health and wellness.

Once closed, Elevated Education will be managed by the current NewBridge management team as well as key members from Elevated. This acquisition will be the first of what the company plans to be a series of acquisitions as part of its strategy to acquire industry leading companies in the regulated cannabis education, cultivation, manufacturing and distribution verticals.

“Our acquisition of Elevated initiates our strategy of investing in and acquiring industry technologies and companies in our targeted verticals. We’re excited to help expand the Elevated brand and offerings,” commented Mark Mersman, Chief Executive Officer of NewBridge Global Ventures. “We believe there is a significant need for medical professionals to become more informed on the endocannabinoid system and that bridging that gap between patient demand and healthcare provider knowledge is key to the growth of the emerging medical cannabis industry.”

SinglePoint Aquires Stake

SinglePoint Inc. (SING)  announced that it has signed a Letter Of Intent to acquire a stake in California cannabis cultivation MTH Development Group.  MTH currently operates 4.7 acres of land zoned for cannabis cultivation. SinglePoint has invested in the company in return for an equity stake. Currently the company leases its properties to licensed cultivators and operates one of the largest cultivations in Adelanto, California. This deal will further establish SinglePoint’s California footprint.

“We are excited for this opportunity. Having been to the operation and seeing their proprietary cultivation procedures we feel this is a great investment for SinglePoint. Part of this investment is to also test our new technologies with their tenants to improve as well as validate our systems. Their feedback will help us build the right solution and navigate the California market regulations”, states Wil Ralston President SinglePoint.

 

 


William SumnerJanuary 23, 2018
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Bit by bit and block by block, more and more cannabis companies are moving into the cryptocurrency and blockchain market.

Today SinglePoint, Inc. (SING), a full-service mobile technology provider that services the cannabis industry through its subsidiary company SingleSeed, announced a letter of intent (LOI) to acquire Bitcoin Beyond, a software platform that allows retail merchants to accept Bitcoin payments through an existing point-of-sale device.

Bitcoin Beyond was primarily developed to service the legal cannabis industry. With adequate banking services in short supply as well as United State Attorney General Jeff Sessions’ renewed pledge to crack down on the industry, many cannabis business owners are seeking alternative forms of payment, such as Bitcoin and other forms of cryptocurrency, to protect themselves from federal interference and the vagaries of everyday crime.

SinglePoint expects the acquisition, which is valued at $1 million, will help allow the company to provide business owners and consumers a full end-to-end retail experience. Built on a popular technology stack with encrypted merchant data and best security practices in mind, Bitcoin Beyond has been designed to easily integrate with existing POS frameworks and allows merchants to add means of payment like Bitcoin or SinglePoint’s own investment property Weedcoin.

“We are thrilled with this opportunity. Acquiring Bitcoin Beyond put us ahead of what we believe merchants have access to now. This platform has by far the easiest user interface we have seen in the market, and we are confident merchants will be quick to adopt this solution as it stands as the sole alternative to traditional options offered to the cannabis industry,” staid SinglePoint President Wil Ralston in a statement.

SinglePoint hopes to continue to expand into the blockchain market and is currently in negotiations to acquire another, yet unnamed, blockchain centric company.

SinglePoint Partners with “Shark” Kevin Harrington

Earlier this month, SinglePoint began expanding its cryptocurrency footprint when the company announced a partnership with serial entrepreneur and original Shark Tank “Shark” Kevin Harrington.

As part of the deal, Harrington will work with SinglePoint’s cryptocurrency division to promote SinglePoint’s bitcoin exchange and bitcoin payment platform. Harrington will also serve as the public face of the company’s national television campaign, which recently began production last week and is now in editing and post-production. The television ad campaign is set to air on major financial and news networks, such as CNN and Fox News.


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The Green Market Report focuses on the financial news of the rapidly growing cannabis industry. Our target approach filters out the daily noise and does a deep dive into the financial, business and economic side of the cannabis industry. Our team is cultivating the industry’s critical news into one source and providing open source insights and data analysis


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