Dinewise Announces Second Quarter 2021 Results

Rhea-AI Summary

Dinewise (OTC PINK:DWIS) reported a net income of $31,171 for the first half of 2021, a significant increase from $15,354 in the same period in 2020. This growth is attributed to the transformation of its business model through PawnTrust, which focuses on micro lending targeted at Pawn Shops. The new logo represents the company's goals and reflects the historical significance of pawn banking. PawnTrust aims to provide small business loans to Pawn Shops, utilizing a unique virtual funding model to improve market share and profitability.

Positive

• Net income increased to $31,171 for the six months ended June 30, 2021, compared to $15,354 in 2020.
• Business model transformation through PawnTrust is expected to enhance profitability.
• PawnTrust's innovative virtual funding model reduces costs while expanding market share.

Negative

• None.

MARIETTA, GA / ACCESSWIRE / August 11, 2021 / Dinewise, Inc (OTC PINK:DWIS) (referred to as "Dinewise," "we," "us," "our" or the "Company") announced net income of $31,171 for six months ended June 30, 2021 compared to $15,354 for the same period 2020. Our results for the second quarter 2021 were a direct result of the completed transformation of our business model through our brand PawnTrust. PawnTrust is now focused on micro lending with an emphasis on Pawn Shops. The company has further changed its logo that specifically portrays its desires. The "T" in Trust is replaced with the 'Pawnbroker Symbol' of the 3 spheres suspended from a bar. This symbol which dates back to pre "Medieval Times" and represents one of the oldest and most successful forms of banking that existed in ancient Greek and Roman Empires and seen across China over 1500 years ago.

"We wanted to ensure our logo and name represented the stability, longevity and profitability of this form of banking... I believe we got it right," Christina Moore, Director of Dinewise.

PawnTrust makes small business loans to Pawn Shops that enables them to meet the financial needs of its consumers that are not offered by other institutions. PawnTrust with its innovative virtual funding model decreases cost while gaining market share and profitability. PawnTrust has become a unique dominating provider of capital to Pawn Shops that gives consumers the ability to utilize their assets for a loan that may not otherwise be afforded to them.

To access the second quarter report: https://backend.otcmarkets.com/otcapi/company/financial-report/294213/content

Contact
PawnTrust 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/658972/Dinewise-Announces-Second-Quarter-2021-Results

FAQ

What were Dinewise's financial results for Q2 2021?

Dinewise reported a net income of $31,171 for the first half of 2021, up from $15,354 in the same period of 2020.

What is the focus of Dinewise's PawnTrust brand?

PawnTrust focuses on micro lending specifically to Pawn Shops, providing them with small business loans.

How does PawnTrust differentiate itself in the market?

PawnTrust utilizes an innovative virtual funding model that decreases costs while gaining market share and profitability.

What recent changes have been made to Dinewise's branding?

Dinewise changed its logo to better reflect its commitment to stability and longevity in the pawn banking sector.