Singlepoint Inc - SING STOCK NEWS

Boston Solar, a subsidiary of SinglePoint Inc. (OTC Pink: SING), has secured a new solar project contract worth approximately $2 million for a Family Health Center in Massachusetts. The project features a 373.29 kWDC system expected to generate 411.3 MWh of energy in its first year.

The installation will provide a 55% offset in the facility's energy consumption, leading to substantial ongoing savings and reduced dependence on traditional energy sources. Construction is scheduled to begin in February 2025. The project was secured through Boston Solar's development partners, with the health center's decision driven by long-term cost savings and environmental benefits.

Boston Solar, a SinglePoint Inc (OTC Pink: SING) company, has announced its participation in the upcoming RE+ Northeast conference from February 12-13, 2025, at the Boston Convention and Exhibition Center. The company will be located at Booth #750 in Hall A.

The event will showcase Boston Solar's latest advancements in solar technology, offering expert guidance on residential and commercial solar solutions, energy storage, and EV charging systems. Their team of specialists will be available to discuss sustainable energy transitions with both homeowners seeking to reduce energy costs and businesses exploring clean energy alternatives.

Visitors interested in learning more about renewable energy solutions and sustainable future initiatives are encouraged to visit Boston Solar's booth during the two-day conference.

Mike Morlino, President of Boston Solar, a SinglePoint Inc. (OTC Pink: SING) subsidiary, was featured on Episode 1 of the Operator-to-Operator podcast discussing leadership transition from military to civilian roles. As a former Navy SEAL with 20+ years of service and an MBA from MIT, Morlino shared insights on applying special operations leadership skills to small businesses.

Morlino was hired through 51 Vets, an organization helping elite military veterans transition to private sector leadership. Under his leadership, Boston Solar has achieved significant operational improvements, including $3.5 million in operational expense reductions over the past year and record contracted installations exceeding $4 million year to date.

SinglePoint Inc's (OTC Pink: SING) subsidiary Boston Solar has secured over $4 million in solar contracts during January 2025, including two major commercial projects worth $3.6 million and residential sales exceeding $1 million. The company reports a significant increase in lead volume and project closures, with the sales team achieving over 30% conversion rate on leads.

Under President Mike Morlino's leadership, Boston Solar has implemented a revamped marketing strategy and is actively exploring new channels to expand its reach. The company has enhanced operational efficiency through overhead reductions and is expanding its geographic footprint across Massachusetts and Southern New Hampshire, focusing on partnerships with development groups for low-income and multi-family housing projects.

SinglePoint Inc. (OTC Pink: SING) released its Q3 financial report, highlighting significant operational improvements despite market challenges. While total income decreased by 19.2% to $5.54 million compared to Q3 FY23, the company achieved notable improvements in profitability metrics. Gross profit increased to $2.5 million (45.1% of total income), up from 29.8% the previous year. The company reported a positive EBIT of $418,196 (7.5% of total income), marking a turnaround from last year's 5.3% loss.

The company reduced its net loss by 72.5% to $103,363 and cut overhead expenses by $3.5 million since Q1 2024. SinglePoint's subsidiary, Boston Solar, is reportedly approaching positive cash flow, with potential net income expected by Q4 at the operating subsidiary level.

SinglePoint Inc. (OTC Pink: SING) subsidiary Boston Solar, in partnership with Resonant Energy, has completed over 20 solar installations totaling 350 kW DC in the Greater Boston area's affordable housing sector, with additional projects of 700 kW DC in development. The collaboration aims to increase renewable energy access for affordable housing tenants by combining Resonant Energy's community solar development expertise with Boston Solar's installation capabilities. The initiative focuses on reducing energy bills for low-income residents while supporting regional environmental and carbon reduction goals.

Boston Solar, a subsidiary of SinglePoint Inc (OTC Pink: SING), has completed a major solar installation project for a global project development and construction company's Northeast headquarters in Waltham, MA. The project consists of two solar energy systems: a primary 113.98kW DC solar array with 235 Hanwha 485 solar panels and a secondary 22.31kW DC system. The combined systems are expected to produce 169,958kWh in their first year, significantly reducing the client's carbon footprint and reliance on traditional energy sources.

SinglePoint Inc. (OTC Pink: SING), formerly listed on the Chicago Board Options Exchange (CBOE: SING), has announced its transition to OTC Markets. This move comes after being the first company listed on CBOE, highlighting broader challenges faced by the new exchange rather than issues with SinglePoint's performance. The company experienced unexpected delays in filing annual financials, impacting subsequent quarterly filings. Despite this setback, SinglePoint remains focused on growth and improving financials.

CEO Wil Ralston emphasized that the transition doesn't reflect the company's business strength. SinglePoint is evaluating options to appeal the decision or pursue other strategic actions beneficial to shareholders. The company maintains its optimism about opportunities on the OTC Markets platform and continues to focus on renewable energy initiatives, acquisitions, and sustainability projects.