SinglePoint Subsidiary Estimates Nearly 20% Increase in Revenue and Almost 60% Gross Margins, Up Significantly From Q2 2020
SinglePoint (OTC:SING) reported a projected 20% revenue increase for Direct Solar America before the end of Q3, with gross margins nearing 60%, reflecting strong business performance despite pandemic challenges. The company noted delays in some projects; however, many are resuming, including commercial projects. A noteworthy offering includes a 1-year no payment solar option for businesses or nonprofits opting for Power Purchase Agreements (PPAs). As the company adapts to current demands, optimism surrounds completion of pending documentation.
- Estimated 20% revenue increase prior to Q3 end.
- Achieved 60% gross margins throughout Q3.
- Significant projects, including commercial ones, are resuming.
- None.
PHOENIX, Sept. 28, 2020 /PRNewswire/ -- SinglePoint Inc. (OTC:SING) is pleased to announce Direct Solar America estimates revenue numbers increasing nearly
"Direct Solar America did a great job meeting the demands placed on business during this ongoing pandemic. The team has made the necessary adjustments and kept the business growing to new highs. While some projects have been delayed many are coming back online such as the previously announced commercial projects. We expect the remaining documentation to complete the process very soon. As an additional benefit any business or nonprofit that decides to move forward with a PPA and put solar on their building will have no solar payment for 1 year," states Wil Ralston, President, SinglePoint.
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About SinglePoint Inc.
SinglePoint Inc. (OTC: SING) is a fully reporting company with core holdings in Solar Energy Services and Industrial Hemp based Consumer Products. Learn more at www.singlepoint.com
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For more information visit: www.SinglePoint.com
Forward-Looking Statements
Certain statements in this news release may contain forward-looking information within the meaning of Rule 175 under 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 release, including, without limitation, statements regarding potential future plans and 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 actual results and future events could differ materially from those anticipated in such statements.
Technical complications, which may arise, could prevent the prompt implementation of any strategically significant plan(s) outlined above. The Company undertakes no duty to revise or update any forward-looking statements to reflect events or circumstances after the date of this release.
Corporate Communication
SinglePoint Inc.
888-OTC-SING
investors@singlepoint.com
www.singlepoint.com
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SOURCE SinglePoint Inc.
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