Swifty Global Accelerates Growth Following Strong Performance in First Full Year of Operations

Rhea-AI Summary

Swifty Global, a technology company in the Sports Betting Sector, has generated $68 million in revenue and profitable cashflow in its first 12 months of trading. The company is licensed in multiple jurisdictions and operates in five countries. Swifty aims to become a global leader in the gambling sector and has applied for gambling licenses in South Africa and Ireland. The company is preparing to roll out a new version of its platform for increased revenue and profitability. However, the company has faced challenges with its name and ticker change application and has decided to delay the filing of its S-1 Registration Statement due to timing and current macro-economic conditions. Swifty remains committed to becoming fully reporting and has a realistic valuation exceeding $40 million.

NEW YORK, NY, July 24, 2023 (GLOBE NEWSWIRE) --  via NewMediaWire -- Dear Cashmere Holding Company (OTC: DRCR) known as Swifty Global (Swifty) is a technology company focused on creating highly scalable ground-breaking solutions and products in the Sports Betting Sector. The company is licensed in multiple jurisdictions and operates across five countries while expanding its license footprint. In 2022, following several years of technology development, the company launched its proprietary swipe betting Sports Predictions App, Sportsbook, Casino platforms. In only its first 12 months of trading, Swifty has already delivered $68 million in revenue and profitable cashflow. The company is in a strong position as it prepares for an exciting phase of territorial expansion and new technology launches.

Swifty’s growth continues to accelerate, and the company is elevating itself towards its goal of becoming a global leader in the gambling sector. The company has successfully implemented its technology and repeatedly proven that its products are ready to be scaled into new markets globally. Having recently applied for licenses in new territories, Swifty will soon be rolling out the new version of its platform as part of its scale up strategy which is expected to deliver increased revenue and profitability for the company.

Swifty aims to complete its name and ticker change with FINRA as soon as possible. Due to challenges regarding historical company records from previous management of the company, this application has been delayed while the company goes through the administrative processes needed for the application.

Furthermore, Swifty has decided that due to timing and current macro-economic conditions, it will delay the filing of its S-1 Registration Statement. The S-1 is prepared for filing and the company has the required governance, audited financials, and administration for the filing, however, management believes that the timing is not optimal while the company explores its potential uplist plans. Swifty is committed to becoming fully reporting and should the company decide to pause its S-1 filing for an extended period of time, it will file a Form 10 to become fully reporting.

Part of the consideration to delay the S-1 filing is the fact that the OTC Market continues to be depressed and face significant headwind, with this bearing no reflection or representation of Swifty’s performance as a company. Based on global industry standards, including EBITDA and current year metrics, while excluding Swifty’s proprietary technology, scalability, Intellectual Property and Licenses, management believes the company’s realistic valuation exceeds $40 million.

Swifty has already applied for its gambling licenses in South Africa and Ireland and will provide further information when these licenses are available. Such licenses can typically take between six to nine months for approval.

Swifty Global CEO, James Gibbons, commented: “While the market conditions are extremely disappointing and cyclical trends in the markets are inevitable, this is no reflection on our performance as a business which is continuing a significant upwards growth curve. This is only set to increase as we release our new technology and expand into new territories. With our new version of the Swifty platform almost ready for release, we have developed the technology which can compete alongside and even outperform some of the best platforms in the industry. Despite the markets, we are more bullish about the business and the future of Swifty than ever before.”  

Swifty’s growing team of high-calibre technical, management and operational staff are based out of our offices in the UK, Eastern Europe, South Africa, and Dubai. Swifty continues to expand its workforce to support its growth plans.

Swifty Global Chairman, Nicolas Link, commented: “We are in particularly good shape to harness our next phase of growth. James and the Swifty team are growing a lean, efficient and technologically advanced operation which is ready to scale. I have the utmost confidence in the company, products, and team to become a billion-dollar company. Along with our Shareholders, we are very disappointed in the share price of the company, however I believe this presents a significant opportunity for genuine medium and long-term investors. Based on pure fundamentals, the company’s stock is significantly discounted, and, in my view, this business represents a significant opportunity.”

For regular updates, you are invited you to follow Swifty Global on Twitter and LinkedIn.

For further information on the company’s latest news please see their communication channels:

Website: https://swifty.global 
Swifty Gaming Website: https://www.swiftygaming.com
Twitter: https://twitter.com/SwiftyGlobal
LinkedIn: https://www.linkedin.com/company/swifty-global
Email: hello@swifty.global

Related links:
https://www.otcmarkets.com/stock/DRCR/profile

Source: DRCR

Forward-Looking Statement
Certain information set forth in this press release contains "forward-looking information", including "future-oriented financial information" and "financial outlook", under applicable securities laws (collectively referred to herein as forward-looking statements). Except for statements of historical fact, the information contained herein constitutes forward-looking statements and includes, but is not limited to, the (i) projected financial performance of the Company; (ii) completion of, and the use of proceeds from, the sale of the shares being offered hereunder; (iii) the expected development of the Company's business, projects, and joint ventures; (iv) execution of the Company's vision and growth strategy, including with respect to future M&A activity and global growth; (v) sources and availability of third-party financing for the Company's projects; (vi) completion of the Company's projects that are currently underway, in development or otherwise under consideration; (vi) renewal of the Company's current customer, supplier and other material agreements; and (vii) future liquidity, working capital, and capital requirements. Forward-looking statements are provided to allow potential investors the opportunity to understand management's beliefs and opinions in respect of the future so that they may use such beliefs and opinions as one factor in evaluating an investment. These statements are not guarantees of future performance and undue reliance should not be placed on them. Such forward-looking statements necessarily involve known and unknown risks and uncertainties, which may cause actual performance and financial results in future periods to differ materially from any projections of future performance or result expressed or implied by such forward-looking statements. Although forward-looking statements contained in this presentation are based upon what management of the Company believes are reasonable assumptions, there can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. The Company undertakes no obligation to update forward-looking statements if circumstances or management's estimates or opinions should change except as required by applicable securities laws. The reader is cautioned not to place undue reliance on forward-looking statements. The Securities and Exchange Commission ("SEC") has provided guidance to issuers regarding the use of social media to disclose material non-public information. In this regard, investors and others should note that we announce material financial information via official Press Releases, in addition to SEC filings, press releases, Questions & Answers sessions, public conference calls and webcasts also may take time from time to time. We use these channels as well as social media to communicate with the public about our company, our services, and other issues. It is possible that the information we post on social media could be deemed to be material information. Therefore, in light of the SEC's guidance, we encourage investors, the media, and others interested in our company to review the information we post on the following social & media channels:

Website: https://swifty.global       
Twitter: https://twitter.com/SwiftyGlobal

FAQ

What is the revenue generated by Swifty Global in its first 12 months of trading?

$68 million

In how many countries does Swifty Global operate?

Swifty operates in five countries.

What licenses has Swifty Global applied for?

Swifty has applied for gambling licenses in South Africa and Ireland.

Why has Swifty Global decided to delay the filing of its S-1 Registration Statement?

Swifty has decided to delay the filing of its S-1 Registration Statement due to timing and current macro-economic conditions.

What is Swifty Global's valuation?

Based on management's belief, Swifty's realistic valuation exceeds $40 million.