SinglePoint Inc. Announces Strategic Transactions and Corporate Actions Simplifying Operations to Continue Consolidating and Expanding Energy-Centric Businesses
PHOENIX, April 20, 2023 /PRNewswire/ -- SinglePoint Inc. (OTCQB: SING or "the Company") announces strategic transactions to simplify and focus operations to increase revenue and achieve subsidiary level cash flow. The strategy will promote building upon the recently reported FY2022 increase in revenue to $21.8 Million versus $808,000 in FY2021. The Company will be selective, focusing on accretive opportunities to further expand its Solar Renewable Energy, Energy Storage for residential and small commercial customers and its Commercial Energy Services as it streamlines and consolidates energy- centric business units to prepare for operations after uplisting.
- Solar+ Battery Storage market in the US is set for multi-year growth due to the provisions in the IRA.
- Board of Director and Shareholder approval of the proposed spinoff to SinglePoint shareholders of ShieldSaver, as a new separate public company.
- SinglePoint originally acquired ShieldSaver in 2018 as a disruptive auto repair and service technology platform that was positioned to leverage blockchain initiatives for data collection.
- In addition, we are also promoting Chad Miles from EVP Operations to our Chief Operating Officer at SinglePoint.