TULSA, OK--(Marketwired - Oct 25, 2017) - AppSwarm, Inc. (
The cannabis market is apt for technology that can advance productivity and workflows. AppSwarm and SinglePoint intend to develop mobile applications that address these industry needs by creating a system that allows a business to see what is going on in the market around them. The mobile apps created will also modernize the consumer experience by adding in SinglePoint's payment features, as well as a multitude of other functionalities.
This LOI with SinglePoint comes on the heels of our announcement regarding the development of a mobile, "last-mile" delivery service app for local grocery stores and pharmacies.
"Last mile" pertains to the movement of people and/or goods from a transportation hub to a customer's home. The demand for web-based applications and on-demand personalized delivery is reaching unprecedented levels, positioning last-mile delivery as a vital component of modern supply chain management.
SinglePoint and AppSwarm plan to launch the first application within 90 days of the LOI, as well as release an additional two applications every 90 days thereafter. The first application will provide a base for additional applications and will be a service-based application for the business-to-business (B2B) and business-to-consumer (B2C) markets.
"We are very excited to be working within this proprietary space. The added pedigree of SinglePoint, along with its solid financial backing makes this a game changer for our Company. This is a great opportunity for both companies, as it allows us to leverage one another's know-how and grow together," stated AppSwarm CEO Ron Brewer.
The cannabis market is projected to reach $50 billion by 2025. Currently, cannabis is legal in 29 states and the District of Columbia. These mobile applications will be available for use in all states. As new states legalize the companies will look to grow alongside the new states opening to legalized cannabis sales.
SinglePoint CEO Greg Lambrecht states, "We are committed to identifying and investing in companies that strengthen SinglePoint's value. Our goal is to find partners like AppSwarm who we believe can add instant value as well as the opportunity for major growth. We are very thrilled to launch these applications. We really feel we have both the capital and partner to make a full court press on a major launch and huge value add to the cannabis industry," states SinglePoint CEO Greg Lambrecht.
We develop and publish mobile gaming and business apps, with a focus on accelerating the development of free to play mobile games and fast-track them to market. We partner with game and business developers through joint ventures, royalty agreements, marketing partnerships, and outright purchases through our publicly-traded company on the OTC Markets, ticker SWRM.
"Safe Harbor" statement under the Private Securities Litigation Reform Act of 1995: This press release may contain forward-looking statements that are subject to risk and uncertainties including, but not limited to, the impact of competitive products, product demand, market acceptance risks, fluctuations in operating results, political risk and other risks detailed from time to time in the Company's filings with OTCMarkets.com and as required to the Securities and Exchange Commission. These risks could cause SWRM's actual results to differ materially from those expressed in any forward-looking statements made by, or on behalf of, the Company.