190% Increase in Revenue -- SinglePoint Announces Preliminary Unaudited 2019 Annual Results, Residential Solar Business Unit is the Primary Driver for the Increase in Revenues and Achieves Business Unit Profitability - Seite 2

According to SEIA, “The U.S. installed 2.6 gigawatts (GW) of solar PV capacity in Q3 2019 to reach 71.3 GW of total installed capacity, enough to power 13.5 million American homes. Residential solar saw its best quarter in history in Q3, and the utility-scale solar pipeline now stands at a record 45.5 GW in Q2. Total installed U.S. PV capacity is expected to more than double over the next five years.” The press release goes on to say, “The increase in residential installations helped the U.S. solar market grow 45% year-over-year and contributed to 15 states having their best quarter ever for residential solar.”

Solar is growing in the investing world; many large players are continuing to increase shareholder value. Invesco Solar ETF (TAN) ran up 51% in just one year, becoming 2019’s best-performing ETF. Many others have jumped in as well such as Warren Buffett investing in one of the largest solar projects to date and Goldman Sachs launch a fund with approximately $4,000,000,000 in available capital. These are just a few selections that showcase the strength of solar and renewable options in the market. 

“I am confident that our business units will continue to grow which translates to SinglePoint being in a better position than we have ever been. We believe the successful operating results in 2019 will continue into 2020 driving our value past historical values to new heights,” states Greg Lambrecht, CEO.  “In my opinion, it’s never been a better time to be a shareholder of SinglePoint; we have growing business units in thriving sectors, we have recently become a fully reporting public company and are committed to continuing to enhance shareholder liquidity by uplisting to the appropriate exchange that allows investors to confidently invest in the company due to its trading volume.”

Our proprietary brand of smokable hemp, 1606, continues to expand into new accounts fueled by the increasing consumer demand for additional products that deliver the benefits of CBD of our proprietary brand of smokable hemp products, 1606.

The Company’s 1606 Original Hemp brand was launched at the MJBIZCON Show in Las Vegas. Executives and senior management recently attended the TPE “Tobacco Show” in Las Vegas which verified that retail is looking for a product that satisfies the growing consumer demand for hemp and CBD based products. The 1606 Original Hemp brand is an exclusive line of products that capitalizes on the emerging trend in the smokable hemp market and has already been picked up by distributors and retail outlets, Lambrecht reported. “We are encouraged by the reception and demand this new product category received at [NACS],” he said. “Our success at NACS with the smokable hemp product allowed SinglePoint to secure a distribution agreement to distribute PrimeTime Flavored Cigars with Japan Tobacco USA, a division of Japan Tobacco International which operates in over 130 countries.”