In last trading session, the stock price of Singlepoint Inc (OTCMKTS:SING) recorded a volatile session, and closed flat at $0.00730. The traded share volume was 2.76 million compared to average share volume of 649,618. SING market capitalization stands at $2.93 million. However, the increase in trading activity clearly indicated that SING is indeed getting noticed among the trading and investing community.
Singlepoint reported that it has completed its first two year PCAOB audit of financial statements for 2-years closed December 31, 2014, with a PCAOB audit of FY2015 underway. The completed audit process will permit the company to progress with its plans to submit a Form-10 registration and turn into a fully reporting entity. Once submitted with the SEC, the firm intends to up list to a reputed senior exchange.
Greg Lambrecht, the CEO of Singlepoint is confident that the registration will allow the company access to big institutional investors. It will help the company to meet its aggressive strategic plans for growth via acquisitions. The objective of registration is to increase market confidence and enhance overall shareholder value.
Singlepoint management reported that this is a remarkable milestone for the company. The audit was a major undertaking and they are grateful to investors for their patience. It provides the company an opportunity to take a significant attempt without surrendering bandwidth on focused objectives, including the acquisition plan in the Daily Sports Fantasy territory and the approaching acquisition of Text2Bid™.
The entity is a mobile and payment solutions firms associated with Maestro Software. It has recorded cumulative growth in the last five years and offers technology for a market space of over $15 billion. Also, the company is completing discussions towards a key acquisition in DraftFury. The Registration Statement will be available for Singlepoint’s shareholders via EDGAR once submitted. Singlepoint offer solutions that enable its clients to perform business deals, accept donations, and involve in targeted communication via mobile devices.