Singlepoint Inc (SING)

[OTC Scam Hunter]

So let me get this straight?

$SING "invests" in companies, by handing over a crapload of $SING shares (plus cash from selling toxic diluted shares to retail) to "purchase" the rights to these companies, then they devalue the other companies to $0 value?

"Since January 1, 2016 we have made additional acquisitions in entities which are no longer operational. On April 27, 2016, we issued 4,000,000 shares of common stock with a fair value of approximately $26,000 to a third party as an initial payment for an ownership interest in GoDraft.com, a daily fantasy sports enterprise. On December 31, 2016, we adjusted this investment down by $26,000 to its estimated fair value of $0. On June 3, 2016 and July 14, 2016, we issued 54,719,562 and 42,417,815 shares, respectively, of our common stock, (a total of 97,137,377 common shares with a fair value of approximately $953,600) to a third party for an ownership stake in Draft Fury, a daily fantasy sports enterprise. During the year ended December 31, 2016, we adjusted this investment down by $953,600 to its estimated fair value of $0. In March 2017, the Company issued 4,878,049 shares of common stock with a fair value of $343,902 and paid $210,000 in cash for a 10% investment stake of Jacksam Corporation for a total investment of $553,902. During the year ended December 31, 2017, we adjusted this investment down by $553,902 to its estimated fair value of $0."

https://ih.advfn.com/p.php?pid=nmona&article=77679278


WTH kind of business plan is that? Looking more and more like a scam here.

Monday $SING sell off. Play the waves, don't invest in this POS.

"We have had a history of operating losses since our inception and, as of March 31, 2018, we had an accumulated deficit of approximately $68 million. We may incur operating losses in the future, and these losses could be substantial and impact our ability to attain profitability."

More toxic dilution coming....

"We will need additional funding if we intend on growing our portfolio companies and making future acquisitions. If we are unable to raise capital when needed, we would be forced to delay, reduce or eliminate our planned development.

We expect our expenses to increase in connection with our ongoing activities. Furthermore, upon the effectiveness of this Registration Statement, we expect to incur additional costs associated with operating as a public company. Accordingly, we will need to obtain substantial additional funding in connection with our continuing operations. If we are unable to raise capital when needed or on attractive terms, we would be forced to delay, reduce or eliminate some or all of our research and development programs or commercialization efforts."

These are Con Men....

"Total operating expenses increased from $953,624 in 2016 to $41,133,695 in 2017, an increase of $40,180,071. The increase was primarily due to an increase in compensation due to the issuance of equity to our officers and directors, and impairment of goodwill during 2017."

"For the year ended December 31, 2017 the Company had a net loss of approximately $52,693,560 compared to a net loss of approximately $2,231,668 for the year ended December 31, 2016, an increase of $50,461,892. The increase is primarily due to an increase in equity based compensation during 2017."

jmo

https://ih.advfn.com/p.php?pid=nmona&article=77679278