SinglePoint, Inc. (OTC: SING) announced today that they are expecting to create sustainable value for shareholders in the coming months. This is hot on the heels of an announcement that the company's offer for a minimum of a 20% stake in Mobile Bidding Technologies, the parent company of Text2Bid. Text2Bid is a profitable company with a $1.6MM valuation that has doubled revenues for the past several years. Additionally, the company has finalized terms for their initial acquisition in the daily fantasy sports industry, DraftFury, which has been valued at $8MM.
The company is very excited about its opportunities in the daily fantasy sports industry, as their existing technologies synergize excellently and will allow the company to cut costs on providing users with mobile services in addition to savings on payment processing. This is a huge and rapidly growing industry, and it has attracted several very prolific investors, including multi-billionaire and owner of the Dallas Mavericks, Mark Cuban.
The company has been hard at work on its rollup acquisition strategy, and that hard work is really starting to show. The acquisitions shareholders have been waiting on are finally coming to fruition, and the company has no shortage of ambition. They just received their audited financials and are striving for an uplist to the QB tier of the OTC Markets. The acquisitions are expected to close by the end of Q2 2016, and more negotiations are currently in progress on other acquisition targets as well.
