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Dinewise Inc (DWIS) is a company that has transitioned from the food delivery and service business to the Fintech industry, with a focus on revolutionizing the pawn shop and microlending sectors. By acquiring PawnTrust, the company now operates in markets such as pawn shops, title pawn microlending, and NFT. PawnTrust acts as an intermediary between pawn shops and consumers, facilitating borrowing, buying, and bartering transactions through innovative technology and AI integration. The company's strategic priorities include market expansion, product innovation, digital transformation, operational enhancements, and improving customer experience.
Dinewise (OTC PINK:DWIS), operating as PawnTrust, has appointed Mel Farr Jr. as Chief Operations Officer. A former NFL player turned business leader, Farr brings significant operational experience from his success in the automotive industry. At Mel Farr Ford in Fairfield, Ohio, he transformed a $500,000 annual loss into a $250,000 annual profit within three years. Later, he led Mel Farr Automotive Group to become the largest African-American-owned business in the US, achieving nearly $600 million in annual sales.
As COO, Farr will oversee PawnTrust's daily operations, focusing on efficiency, customer experience, and growth initiatives. The company also announced that CEO Michael Farr, Mel's brother, will conduct investor interviews, starting with The Beasts of Wall Street on X.com Spaces on December 19, 2024.
Dinewise (OTC PINK-DWIS) has signed a letter of intent to acquire TitlePal, a fintech company revolutionizing the title lending industry through its online platform. The acquisition targets the title pawn industry, which serves over 2 million consumers borrowing more than $6 billion annually through 8,000 storefronts, generating over $4 billion in fees on $3 billion in principal loans.
TitlePal aims to capture 1% of existing storefront loan customers by offering digital solutions. The acquisition is expected to complete in Q1 2025, with projected revenues exceeding $15 million in 2025. The agreement terms are designed to minimize shareholder dilution while driving growth.
Dinewise (DWIS) has appointed former NFL star Michael Farr as CEO. Farr, known for his successful career with the Detroit Lions and subsequent business achievements, brings significant experience in both athletics and entrepreneurship. After his NFL career, he helped transform Mel Farr Ford into a top-10 Ford dealership, doubling sales from $200M to $400M. As CEO, Farr plans to focus on finalizing a Letter of Intent with a fintech company that has developed an online title pawn solution. The platform aims to disrupt the current market dominated by three major companies controlling 90% through 9,000 storefronts by offering a 20-minute online transaction process.
Dinewise (DWIS) has announced several strategic developments for its fintech operation, PawnTrust. The company plans to acquire a pawn shop, used car dealership, and liquor store in the coming year. PawnTrust's marketplace features AI-driven technology and has a beta version receiving positive feedback. The full launch is expected in early Q2/2025 with 100 pawnshops signed on. The company is developing an online title loan solution and plans to complete an LOI with a fintech company by month-end. PawnTrust has streamlined the title loan process to 20 minutes online. The company is working on debt reduction, establishing a senior credit facility, and pursuing regulatory approval for a name and ticker symbol change.
Dinewise, Inc. (DWIS) announced an increase in authorized shares and the introduction of preferred shares to support financial growth and strategic initiatives. The company aims to consolidate control with the new class of shares to align with its 90-day plan and long-term vision.
Dinewise, Inc. (DWIS) reveals a 90-day plan focusing on market expansion, product innovation, digital transformation, operational improvements, and enhancing customer experience. The company aims to boost revenue, reduce debt, secure a credit facility, and strengthen its position in the FinTech industry. The plan includes strategic priorities and financial goals to drive sustainable growth and shareholder value.
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