SinglePoint Inc., (OTCQB:SING) released a statement that Direct Solar of America, LLC ("Direct Solar"), its majority-owned subsidiary, is entering into a ("LOI") Letter of Intent to acquire the entire Standard Eco Solar, an installer and developer of grid-tied solar electric systems in Arizona, Texas, and Illinois for a combination of stock and cash. SinglePoint and Direct Solar are currently doing due diligence, and SinglePoint is expected to issue common stock immediately the audit and definitive agreements are finalized, facilitating this investment via Direct Solar of America. It is anticipated that the transaction will close the latest by December 2020. In 2018, Standard Eco Solar realized unaudited revenues of 12,331,701 USD, and in 2019, their unaudited revenues stood at 11,345,061 USD. It was operationally profitable in 2018 and 2019.