- SING files full year and Q4 2019 financial report, showing 189% year-over-year sales spike, gross profit increase of 269%
- SING responds to crisis by utilizing digital platforms to efficiently market Direct Solar – eliminating training, canvassing costs
- SING markets its own Klēn brand of high-demand hand sanitizer
In a recent MoneyTV interview, SinglePoint Inc. (OTCQB: SING) CEO Greg Lambrecht reported promising figures from the company’s full year and Q4 2019 financial results. A strong performance by subsidiary Direct Solar helped drive the company’s 189% sales increase to $3,343,833 for the year ended December 31, 2019, as compared to $1,154,671 in 2018 (http://cnw.fm/FlRT4). While reporting a decreased year-over-year net loss, SING also showed a 269% jump in gross profit to $990,777 for 2019 as compared to $267,799 in 2018. Additionally, in the current economically challenging environment, Direct Solar has been closing sales on a ‘virtual’ basis to stay-at-home customers – saving the cost of paying and training canvassers, Lambrecht noted (http://cnw.fm/u0HQ5).
The report detailed that $2,189,162 of Singlepoint’s revenues last year were generated by its powerhouse subsidiary Direct Solar. This figure accounts for only the six months of the subsidiary’s revenues to SING since it was acquired in March 2019. Speculating on a full year unaudited pro forma basis, Direct Solar would have…
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