NEW YORK, August 21, 2018 /PRNewswire/ --
According to a researchreport provided by Technavio, the legal cannabis market is expected to grow at a steady CAGR of about 24% until 2021. The widespread proliferation of cannabidiol (CBD) oil products is one of the primary growth factors for the market. The growing presence
So far, this year has been crucial for the cannabis industry. Canada has legalized cannabis on a national level, and the state of California has legalized sales of cannabis products for recreational use. These recent developments are expected to have significant financial and economic implications. A report by Fortune indicates that, "In order to collect USD 1 Billion a year in taxes, the state will need to reach a projected USD 7 Billion in annual legal recreational cannabis sales. At that rate, California would easily be the country's largest legal marijuana market, as the entire legal cannabis industry in the U.S. is expected to pull in roughly USD 10 Billion in total sales for 2017. That number would almost certainly get a boost in the coming years, as legal markets grow in California and other states, such as Nevada and Massachusetts."
SinglePoint Inc. (OTC: SING) earlier today announced breaking news that, "its status as a fully reporting company by way of filing Form 10-12G and reports year-over-year improvements for the second quarter and six months ended June 30, 2018.
Second-quarter revenues increased nearly 100% compared to the same quarter of 2017. In the first six months of 2018, SinglePoint recorded over $500,000 in revenue as a result of several successful acquisitions. The company hopes to maintain this growth trend through its current business model.
Acquisitions have been a key factor in building a solid financial base, and SinglePoint intends to continue accelerating revenue growth through strategic acquisitions. Under this model, the company expects to grow organically and through larger investments and/or acquisitions.
"As a fully reporting company, I believe we will have additional opportunities to grow our existing businesses and potentially entertain larger acquisitions," stated CEO Greg Lambrecht. "We are excited to continue business with increased transparency and credibility. It took all of our efforts and attention to file the Form 10-12G, and we are now ready and able to fully focus on the deals in front of us."
To see the full filing, visit http://nnw.fm/hO6Uj
About SinglePoint, Inc. - SinglePoint, Inc (SING) is a technology and investment company with a focus on acquiring companies that will benefit from our management, potential injection of growth capital and technology integration. The company portfolio includes mobile payments, ancillary cannabis services and blockchain solutions. Through acquisitions into horizontal markets, SinglePoint is building its portfolio by acquiring an interest in undervalued companies, thereby providing a rich, diversified holding base." Isodiol International Inc. (OTCQB: ISOLF) is the market leader in pharmaceutical-grade pure, natural CBD and in the manufacturing and development of CBD consumer products. Recently, the Company announced the progress of its months-long efforts to develop new hemp-based beers and functional beverages. In May 2018, IsoBev Inc., a wholly owned subsidiary of Isodiol, acquired a turn-key brewing system, including a 7-bbl brewhouse, four 15-bbl fermentation tanks, a 30-bbl fermentation tank, a 15-bbl brite tank, and a 30-bbl brite tank, which is expected to yield between 1,500 and 2,000 bbls of production per year. In addition, IsoBev acquired a 12-ounce bottling line and a 22-ounce bottling line, which could yield over 600,000 12-oz bottles and 25,000 12-oz bottle cases per year. PotNetwork Holdings Inc. (OTC: POTN) is a publicly traded company that acts as a holding company for its subsidiaries, First Capital Venture Co., the owner of Diamond CBD Inc., the maker of Diamond CBD oils. Earlier this month, the Company announced that its wholly owned subsidiary, Diamond CBD Inc., successfully displayed the Company's full product line including its newest products at the 56th ASD Market Week trade show at the Las Vegas Convention Center, July 29-August 1st, gaining over 400 new orders in the 3 days of the show. With products in all 50 states, and a growing international brand awareness, Diamond CBD is a growing industry leader with proprietary premium products that contain a broad range of cannabinoids, natural hemp derivatives and hemp extracts.
Future Farm Technologies Inc. (OTCQX: FFRMF) is a Canadian company with holdings throughout North America including California, Massachusetts, Florida, Maine, Puerto Rico and Newfoundland. Recently, the Company announced that it has completed its acquisition of a 50% interest in CEPG Consulting and Design Inc. of St. John's, Newfoundland. CEPG will participate in the cannabis and hemp breeding program under the previously announced joint venture between Future Farm and Rahan Meristem Ltd., a world-renowned global agro-biotechnology company based in Israel. The joint venture will operate out of both an existing building to be transferred to CEPG by Snellen Holdings (1994) Co. Ltd. and 6,000 sq. ft. of newly constructed laboratories. CEPG will apply for a dealer license from Health Canada, which will enable research and development to begin on the growth of cannabis plants. Once licensed, the R&D facility will use state-of-the-art controlled environment equipment and techniques to create a research hub for the Rahan and Future Farm JV, which is expected to create valuable IP to be sold or licensed worldwide.
MassRoots Inc. (OTCQB: MSRT) is one of the leading technology platforms for the regulated cannabis industry. Powered by more than one million registered users, the Company's mobile apps empower consumers to make educated cannabis purchasing decisions through community-driven reviews. With a significant market share of medical cannabis patients in certain markets and more than 35,000 shareholders, the Company believes it is uniquely positioned to best serve the needs of the cannabis industry. Recently, the Company announced that it has launched its revamped dispensary portal, MassRoots for Business. Through this business portal, dispensaries are able to list locations on MassRoots' dispensary finder, update key information in real-time, and view insightful analytics on their local cannabis market.
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