Singlepoint Inc (SING)

[Charlie V]

Results of Operations

Comparison of the Three Months Ended March 31, 2022 with the Three Months Ended March 31, 2021

Net Revenue. For the three months ended March 31, 2022, we generated revenues of $4,920 as compared to $15,596 for the three months ended March 31, 2021. The decrease revenue was due primarily to a decrease in sales of hemp cigarettes.

Cost of Revenues. For the three months ended March 31, 2022 and 2021, cost of revenue was $1,764 and $11,853, respectively. The decrease was due primarily to lower sales.

Gross Profit. As a result of the foregoing, our gross profit was $3,156 for the three months ended March 31, 2022, compared with $3,743 for the three months ended March 31, 2021.

Operating Expenses. For the three months ended March 31, 2022 and 2021, total operating expenses were $145,922 and $18,444. The increase was primarily due to higher professional and legal expenses related to regulatory filings and potential stock listing.

Net Loss. For the three months ended March 31, 2022 and 2021, net loss was $145,766 and $14,701, respectively. The increase in net loss was primarily due to higher professional and legal expenses.

https://www.sec.gov/Archives/edgar/data/1877461/000147793222003548/onesix_10q.htm