SinglePoint, Inc. Announces $ 10,000,000 Equity Financing Agreement with GHS Investments, LLC.
PHOENIX, September 24, 2021 / PRNewswire / – SinglePoint Inc. (OTCQB: SING) (“SinglePoint” or the “Company”), a company specializing in providing renewable energy solutions and energy efficient applications to improve health and life, has announced today that it has entered into an equity financing agreement with GHS Investments, LLC (“GHS”) to raise up to $ 10,000,000. The deal is on a retrospective basis and there are no catch-up provisions, a real non-toxic equity investment. GHS is a leading private investment and management group providing financial solutions to high potential small caps. GHS has invested in several successful portfolio companies in the market nano-cap space that are seeking capital to measurably grow and grow their existing businesses to take advantage of emerging market sectors.
“We look forward to continuing our relationship with a forward-thinking and strategic company like GHS Investments,” said the CEO of the company, Wil ralston. “Since taking on the role of CEO and President of May 2021, I accelerated the planned strategic actions that led to immediate fundamental improvements within our main business units. Direct Solar America, Energy Wyze and Box Pure Air are all gaining ground and additional access to capital will only enhance strategic market opportunities. Continuing relationships with companies like GHS that provide access to growth capital allows us to execute our strategic plan focused on accelerating revenues and profitability within our subsidiaries, which ultimately benefits our parties. stakeholders and shareholders. “
Over the past twelve months, GHS has provided several rounds of strategic capital. What supports the growth of SinglePoint and has improved the company’s balance sheet, which has been a key element in being able to move to OTCQB recently:
- April 21, 2020: SinglePoint has entered into an equity financing agreement and registration rights agreement with GHS. In accordance with the equity financing agreement, GHS has agreed to purchase up to $ 7.0 million. SinglePoint subsequently filed an S-1 registration statement which was deemed effective on July 29, 2020.
- December 18, 2020: SinglePoint has entered into an agreement to purchase Class B preferred shares with GHS, for a purchase price of $ 400,000 Class B preferred shares.
- January 28, 2021: SinglePoint has entered into a securities purchase agreement with GHS, under which GHS has agreed to purchase, in installments, up to $ 1.0 million Class C preferred shares of the Company.
- March 11, 2021: SinglePoint has entered into a securities purchase agreement with GHS whereby GHS has committed to purchase, in installments, up to $ 2.0 million Class D preferred shares of the Company.
Matthieu schissler, a member of GHS, said: “SinglePoint is attractive to us on many levels, trends are accelerating and converging as more households and businesses seek to capitalize on the benefits of power generation through solar energy and other renewable energies. We are also seeing a growing need to provide high-quality indoor air quality solutions, made in the USA, using proven technologies that allow safe return to enclosed indoor environments at school or office. We are very confident in the ability of the management team to continue to perform and we are delighted to play a key role in the continued growth of the company. “
Recently, the company announced forward-looking directions for its solar-focused subsidiaries, EnergyWyze and Direct Solar of America, including accelerating targeted residential and industrial B2B sales. $ 1,500,000 in monthly revenue and annual revenue projections for fiscal 2022 for solar-centric companies have increased to US $ 20,000,000.
This advice is based on reviewing and improving lead costs and conversion rates, which will ultimately increase the number of projects closed. This creates a stereotypical, mathematical, data-driven approach to income growth. These key defined input variables, lead cost and conversion rates, will be a function of the increase in spending on the number of leads and appointments for solar installations.
Other recent operational highlights include:
- Launch of EnergyWyze and Direct Solar America collaboration on revenue increase initiatives;
- Launch of B2B SolarCXM and IA technology for solar activities; and
- Box Pure Air has announced additional school orders for clean air solutions and increased ventilation using the new Apex 2.0 model, which is designed for industrial and commercial deployment in large, high traffic areas within schools. Since the announcement, Box Pure Air has received several new purchase orders and, more importantly, Box Pure Air is starting to receive several follow-up purchases from schools, such as the $ 190 billion in Federal funding earmarked specifically for improving ventilation in schools begins to roll out to state and local levels for procurement.
About SinglePoint Inc.
SinglePoint Inc. is a renewable energy and sustainable lifestyle company focused on providing environmentally friendly energy efficiency and healthy living solutions. SinglePoint is initially focused on building the largest network of renewable energy solutions and modernizing the traditional model of solar and energy storage. The Company is also actively exploring future growth opportunities in air purification, electric vehicle charging, solar power as a subscription service, as well as energy efficiencies and additional devices that improve sustainability and a healthier life. For more information, visit the company’s website (www.singlepoint.com) and log on to LinkedIn, Twitter, Facebook, and Youtube.
Certain statements in this press release may contain forward-looking information within the meaning of Rule 175 of the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. All statements, other than statements of fact, included in this press release, including, without limitation, statements regarding future plans and potential objectives of the Company, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and that actual results and future events could differ materially from those anticipated in such statements.
JTC Team, LLC
SOURCE SinglePoint Inc.