SinglePoint's Pure American Hemp Cigarettes Light Up NACS

SinglePoint

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Primary Exchange: OTCQB
Under the Symbol: SING

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.

High Margins

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.

Synopsis

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

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