Under the Symbol:
SinglePoint's Pure American Hemp Cigarettes Light Up NACS
Thursday, October 17, 2019 7:00 AM
ORLANDO, FL / ACCESSWIRE / October 17, 2019 / While attending the National Associations of Convenience Stores (NACS) expo in Atlanta, Georgia, SinglePoint's booth was buzzing with activity. Convenience Stores or ‘c-stores' as they are called in the industry, utilize this conference to connect, learn, and increase product exposure. With 1,200 companies representing 70 countries, this is the largest event serving convenient store vendors in America. Some of the notable attendees include Swisher International, YUM Brands, Keurig Dr Pepper, and The ICEE Company. This year the NACS included, for the first time, companies in the CBD industry. The expo featured two CBD education sessions as well as an entire pavilion in the convention center dedicated to CBD products. Hemp became federally legal in 2018, is one of the fastest-growing industries and according to BDS Analytics and ArcView Market Research, the CBD industry is expected to be valued at over 20 Billion by 2024.
Growing the Distribution Channels
SinglePoint met with dozens of distributors representing over 20,000 retail locations for their new Pure American Hemp cigarettes. I witnessed SinglePoint staffers writing orders and meeting almost non-stop with potential distributors. CEO Greg Lambrecht previously founded Premium Cigars International, where he led the company to an IPO after raising 10 Million Dollars in 1997. Lambrecht found his initial success in driving sales and distribution when he reached 30,000 accounts spanning Northern and Central America across 22 states, 5 Canadian provinces, sourcing from the Dominican Republic, Mexico, Honduras, and Nicaragua.
The Market Opportunity
The Pure American Hemp brand differentiates itself from its competitors across the c-store industry due to of the quality of the product. The company ensures that its CBD is pesticide, and herbicide free through a rigorous quality control process. Executive Don Smith has nearly a decade of experience in advanced agriculture. In that time, he co-invented a "vertical cultivation" device, the invention and hydroponics business were sold to Greengro Technologies, Inc.
As cigarette purchases are declining users are turning toward Other Tobacco Products (OTP). Most experts agree that hemp is not addictive, and OTPs, like vaporizers, chewing tobacco, and patches contain nicotine, making hemp cigarettes a more attractive alternative. The company is predicting a ‘dramatic increase in revenue' and over the next quarter as the company continues to focus on building a national hemp cigarette brand.
While cigarettes and beer have a margin of 13% and 18% respectively, CBD consumer products currently have an average margin of 32%. The products are available as pre-rolled cigarettes as well as a multitude of CBD pills, topical creams, and edible supplements which can be viewed by anyone 21+ on their website, Singleseed.com. The same margins are also being reported by pet stores selling CBD infused treats. These higher-margin derivatives can be targeted at a CBD-seeking customer base with little fear of oversupply or pricing pressure. As the company continues to develop its product line, the company continues to target dispensaries.
Given the strong revenue growth of recent acquisition Direct Solar combined with their strong presence in the hemp space, the current market cap of $18 million could be considered low. Direct Solar closed $1.7 Million in sales between May and June of 2019. On MoneyTV, Lambrecht said that he is projects SinglePoint will generate $20 Million in revenue in 2020 by expanding their hemp and CBD operations. After leaving NACS, SinglePoint's Pure American Hemp had received orders from 3,000 accounts.
Learn more about SinglePoint's business: https://youtu.be/082wfbX7e7s
About RedChip Companies, Inc.
RedChip Companies, an Inc. 5000 company, is an international investor relations, media, and research firm focused on microcap and small-cap companies. For 27 years, RedChip has delivered concrete, measurable results for its clients. Our newsletter, the RedChip Money Report is delivered on-line weekly to 60,000 investors. RedChip has developed the most comprehensive service platform in the industry for microcap and small-cap companies. These services include the following: a worldwide distribution network for its stock research; retail and institutional roadshows in major U.S. cities; outbound marketing to stock brokers, RIAs, institutions, and family offices; a digital media investor relations platform that has generated over 2.3 million unique investor views; investor webinars and group calls; a globally-televised show, "The RedChip Money Report," which airs in 149 million homes globally on Bloomberg International; TV commercials in local and national markets; corporate and product videos; website design; and traditional investor relation services, which include press release writing, development of investor presentations, quarterly conference call script writing, strategic consulting, capital raising, and more.
To learn more about RedChip's products and services, please visit:
"Discovering Tomorrow's Blue Chips Today"™
Disclaimer: RedChip Companies, Inc. research reports, company profiles and other investor relations materials, publications or presentations, including web content, are based on data obtained from sources we believe to be reliable but are not guaranteed as to accuracy and are not purported to be complete. As such, the information should not be construed as advice designed to meet the particular investment needs of any investor. Any opinions expressed in RedChip reports, company profiles, or other investor relations materials and presentations are subject to change. RedChip Companies and its affiliates may buy and sell shares of securities or options of the issuers mentioned on this website at any time.
The information contained herein is not intended to be used as the basis for investment decisions and should not be construed as advice intended to meet the particular investment needs of any investor. The information contained herein is not a representation or warranty and is not an offer or solicitation of an offer to buy or sell any security. To the fullest extent of the law, RedChip Companies, Inc., our specialists, advisors, and partners will not be liable to any person or entity for the quality, accuracy, completeness, reliability or timeliness of the information provided, or for any direct, indirect, consequential, incidental, special or punitive damages that may arise out of the use of information provided to any person or entity (including but not limited to lost profits, loss of opportunities, trading losses and damages that may result from any inaccuracy or incompleteness of this information).
Stock market investing is inherently risky. RedChip Companies is not responsible for any gains or losses that result from the opinions expressed on this website, in its research reports, company profiles or in other investor relations materials or presentations that it publishes electronically or in print.
SinglePoint (SING) is a client of RedChip Companies. SING agreed to pay RedChip Companies a monthly cash fee for investor awareness services and consulting services. Investor awareness services and programs are designed to help small-cap companies communicate their investment characteristics. RedChip investor awareness services include the preparation of a research profile(s), multimedia marketing, and other awareness services.
We strongly encourage all investors to conduct their own research before making any investment decision. For more information on stock market investing, visit the Securities and Exchange Commission ("SEC") at www.sec.gov.
Dave Gentry, CEO
SOURCE: RedChip Companies