Dinewise Announces 3rd Quarter Results and Memorializes its Acquisition of PawnTrust

Rhea-AI Summary

Dinewise, Inc (OTC PINK:DWIS) reported a net income of $149,198 for the nine months ending September 30, 2022, marking an over 300% increase from $54,856 a year earlier. The third quarter results reflect consistency in financial statements and ongoing business model expansion. The company also finalized its acquisition of PawnTrust, Inc in December 2021, further enhancing its business model as a market disruptor through an innovative online pawn and micro-lending platform. This strategic move aims to integrate technology and data to revolutionize the industry.

Positive

• Net income increased to $149,198 for the nine months ending September 30, 2022, up over 300% from the previous year.
• Acquisition of PawnTrust enhances Dinewise's business model, providing a data intelligence platform in pawn and micro-lending.
• PawnTrust aims to create a worldwide marketplace for pawn inventory, improving accessibility and convenience.

Negative

• None.

MARIETTA, GA / ACCESSWIRE / November 14, 2022 / Dinewise, Inc (OTC PINK:DWIS) (referred to as "Dinewise", "we", "us", "our" or the "Company") announced net income of $149,198 for nine months ended September 30, 2022 compared to $54,856 for the same period 2021 a net increase of over 300%. "Our results for the third quarter 2022 are creating consistency in our financial statements as we continue to expand our business model." Christina Moore, Director.

Dinewise, Inc acquired PawnTrust, Inc in an all stock transaction on December 15, 2021. This transaction has been memorialized during this period as well as re-classifying certain items on our financial statements as we prepare for a financial audit of the last 2 years and last 2 interim periods to become fully SEC reporting. As a result of memorializing this Acquisition, Dinewise through PawnTrust has completely expanded its business model that will be a market disrupter in the industry.

PawnTrust is a revolutionary evolution in pawn shops and micro-lending, that will bring the pawn shop online allowing anyone in the world to benefit from the efficiency and convenience of our platform. PawnTrust is a data intelligence platform in the pawn and micro lending vertical, with a mission to provide a trusted platform in the business of lending money to the masses. Using a list of verified pawn brokers and lenders across the United States, PawnTrust will provide capital to individuals that meet short-term financial needs. PawnTrust will combine technology and data to transform the industry. PawnTrust through its verified pawn brokers will create a worldwide marketplace for all pawn inventory, that can be bought in sold through an app accessible across the country.

To access the third quarter report:

https://www.otcmarkets.com/otcapi/company/financial-report/350490/content

Contact

Investor Relations
(888) 243-2680
invest@pawntrust.com

Forward-Looking Information

This release includes statements that may constitute ''forward-looking'' statements, usually containing the words ''believe,'' ''estimate,'' ''project,'' ''expect'' or similar expressions. These statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. While the Company believes the expectations reflected in forward-looking statements are reasonable, there can be no assurances such expectations will prove to be accurate. Security holders are cautioned such forward-looking statements involve risks and uncertainties. Certain factors may cause results to differ materially from those anticipated by the forward-looking statements made in this release. Factors that would cause or contribute to such differences include, but are not limited to, acceptance of the Company's current and future products and services in the marketplace, the ability of the Company to develop effective new products and receive regulatory approvals of such products, competitive factors, dependence upon third-party vendors, risks and uncertainties related to the current unknown duration and severity of the COVID-19 pandemic and other risks detailed in the Company's periodic report filings with the Securities and Exchange Commission. By making these forward-looking statements, the Company undertakes no obligation to update these statements for revisions or changes after the date of this release.

SOURCE: Dinewise, Inc.

View source version on accesswire.com:
https://www.accesswire.com/723569/Dinewise-Announces-3rd-Quarter-Results-and-Memorializes-its-Acquisition-of-PawnTrust

FAQ

What are the key financial results for Dinewise, Inc for 2022?

Dinewise reported a net income of $149,198 for the nine months ending September 30, 2022, which is a 300% increase from the previous year.

What is the significance of the PawnTrust acquisition for Dinewise?

The acquisition of PawnTrust allows Dinewise to expand its business model into online pawn services and micro-lending, positioning the company as a market disruptor.

How does PawnTrust aim to transform the pawn industry?

PawnTrust will combine technology and data to create an online marketplace for pawn inventory, accessible through an app across the U.S.

When did Dinewise acquire PawnTrust?

Dinewise acquired PawnTrust on December 15, 2021.

Where can I access the third quarter report for Dinewise?

The third quarter report can be accessed at https://www.otcmarkets.com/otcapi/company/financial-report/350490/content.