PHOENIX, Sept. 03, 2019 (GLOBE NEWSWIRE) -- via OTC PR WIRE -- PRESS RELEASE -- SinglePoint Inc. has announced subsidiary Direct Solar of America is planning along with GSX International Group and other larger corporations a first of its kind Hemp distribution center. Direct Solar of America will provide all energy solutions to production and distribution centers along with energy solutions to independent farmers in the co-op. Additionally, Direct Solar of America will facilitate the selling or assigning of ITCs between the farmers and centers or other third parties.
The opportunity to expand into the hemp market represents an opportunity to enter a market that is projected to be a multi-billion dollar market in just a few short years. An organization that can effectively combine the resources of small hemp farmers and establish centralized processing and distributions centers could corner the market on hemp processing for the foreseeable future. Combined with the current tax incentives offered through ITCs and Opportunity Zones, organizations that can access both will stand to reap the biggest profits.
SinglePoint's services will offer an extremely unique value add that cannot be easily replicated. This will create a natural barrier to entry for other competitors in the future, thus giving the company a long-term competitive advantage. Additionally, the solution will provide almost instant stability to the hemp market while generating substantial profits.
The overall profit potential is enormous given the current solar tax incentives along with opportunity zone exemptions. The project is projected to be fully profitable within three to four growing cycles. Southern farmers will have multiple growing cycles during the year, while northern farmers will be traditionally limited to one per season. The real benefit of this structure is to take advantage of the tax exemptions currently available for opportunity zone development. It is this financial incentive that will make the project profitable within 24-36 months.
