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bostonangler

SinglePoint Acquisition Direct Solar Secures $421,808 in Solar Contracts From May 15th - 31st

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PHOENIX, June 04, 2019 (GLOBE NEWSWIRE) -- via OTC PR WIRE -- SinglePoint Inc. (SING) is pleased to announce Direct Solar has secured $421,808 in solar installation contracts since completion of the acquisition. Sales are recorded on a cash basis which happens at the time of project completion typically occurring within 60-90 days. SinglePoint expects most of the revenue driven so far by Direct Solar to be recorded on Q3 financial statements.

“We are very pleased with the performance of Direct Solar and their entire team. Sense closing the acquisition they have really outperformed everyone’s initial expectation. They goal was $1,000,000 a month after 90 days and it would appear, we are going to hit that sooner than anticipated. In addition to this major success in residential the team is also working on a small business funding relationship that would provide Direct Solar the ability to qualify small business customers and lend out up to $100,000,000 for solar projects. The funding for this market is very sparse right now and we believe this option with our funding partner will put us in the leadership position to attack this major market,” states Wil Ralston, President SinglePoint.

Direct Solar is currently averaging 2.7 sales per day and has been trending towards three very quickly. The company is looking to expand into Missouri very quickly as federal and state rebates continue to expand.

 

BOOM!

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Thanks BA, let's hope this will help SING get moving on the stock price. I keep seeing this stock sitting there doing nothing, but then I got it so cheap I will not sell. I still believe it has a good chance of being successful. So I hold. Thanks for finding this and posting it. Muchas Gracias!!

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