Singlepoint Inc (OTCMKTS:SING) Making Big Moves

Today, we will again have a look at Singlepoint Inc (OTCMKTS:SING), the mobile technology provider, as it released a long list of new developments in October. Company LogoIf you remember well, in September, we noted that this name should be followed, as the acquisitions like that of Dr. FeelGood would result in the company growing at much faster pace.So far, we believe that we were not wrong in saying so.The share price moved from below $0.06 to close to $0.07, which is a decent and stable return. Furthermore, the amount of shares that are being exchanged these days increased, which we appreciate. In our opinion, it shows that the market interest in the stock is increasing.Have a look at it and form your own opinion: 1 month chart for SINGLet's revisit rapidly the company's business model for those who don't know it yet. SING provides a full-service mobile technology, but that's not its only activity. Recently, the company commenced to acquire other companies in order to diversify its business. What our regular readers will appreciate is that the company is providing services to the cannabis industry.If you are not aware of the present state of the marijuana industry, then listen to this carefully. After the legalization of some of medical marijuana in some states in the US and Canada, its demand has vastly increased. As a result, marijuana stocks have delivered outstanding returns to the market.If you want to get to know some opportunities in the marijuana industry, please check other articles on this site. It will also help understand what can happen with SING.Recent DevelopmentsOn October 11, 2017, the company highlighted a new round of funding, in which the company received $1.2 million. It was also noted that $600,000 had come from United American Healthcare Corp. (OTCMKTS:UAHC).The new funding is a great news, as it will position the company to develop its Bitcoin payment solution. Additionally, we will be expecting more acquisitions in the marijuana space now that the company has received cash. Check the following words included in the press release:

"SinglePoint now has the resources needed to pursue larger acquisition targets to capture its share of the legal cannabis industry, which is on track to exceed $20 billion by 2025 with a compound annual growth rate of 29%." Source

On top of it, the company noted that several deals are in pipeline and this Letter of Intent is close to be finalized. Thus, we encourage readers to be very alert. As it happened before, a new acquisition could be a big catalyst for the stock.On October 17, 2017, the market got to know that SING was acquiring Denver-based group, JAG. This target is not a small company. JAG reported full-year 2016 revenue of $700,000, and approximately 26% gross margins in July 2017. It is a company growing at a much faster pace.SING will acquire 51% of JAG and will pay in cash and stock. This means that the company will include the revenues in its next quarterly release. We encourage readers to be alert, as those financial numbers may surprise the market.On October 24, 2017, the company signed a letter of intent with AppSwarm Inc. (OTCMKTS:SWRM). Both companies agreed to conduct a "joint roll-out of mobile applications specifically geared to the cannabis industry." We believe that the idea is quite interesting. SinglePoint’s SingleSeed subsidiary will be in charge of the marketing and AppSwarm will provide the technical know-how. The first application will be launched within 90 days.Finally, we could read that the company has ambitious plans for the future and is positive about the size of the market. Read the following words:

"The cannabis market is projected to reach $50 billion by 2025. Currently, cannabis is legal in 29 states and the District of Columbia. These mobile applications will be available for use in all states. As new states legalize the companies will look to grow alongside the new states opening to legalized cannabis sales." Source

Additionally, in a podcast received on October 26, 2017, Wil Ralston from SING said that the company is looking to finish SinglePoint's Bitcoin exchange. He said that the company will hopefully have "a nice beta system ready to launch." Hence, we encourage readers to be very alert. If the beta version is released and the market appreciates its features, the share price could spike.ConclusionCurrently trading with a market cap of $63 million, SING is an exciting story among small caps. With $0.28 million in cash, $0.8 in assets and only $0.3 million in total liabilities, the company shows a solid financial situation.But, there is more, the change in the balance sheet this year has been very interesting. The company has reduced its debt and increased the amount of assets. We appreciate this trend. To sum up, the company is growing; the company has cash and projects.We will be updating our subscribers as soon as we know more. For the latest updates on SING, sign up below!Image courtesy of Csaba Fekete via FlickrDisclosure: We have no position in SING and have not been compensated for this article.