Dinewise, Inc. (DWIS) Announces Increase in Authorized Shares and Introduction of Preferred Shares
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.
The increase in authorized shares provides flexibility for financial growth and strategic initiatives, such as capital raising, potential acquisitions, and stock-based compensation plans.
The introduction of Series A Preferred shares consolidates control with founders and key stakeholders, ensuring alignment with the company's long-term vision and strategic direction.
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Company continues to align itself to fulfill obligations in its 90 Day plan
ATLANTA, GA / ACCESSWIRE / May 8, 2024 / Dinewise, Inc (OTC PINK:DWIS) (referred to as "Dinewise", "we", "us", "our" or the "Company") a company that is expanding in markets in the overall Fintech industry today announced that its Board of Directors has approved an increase in the number of authorized shares of the company's common stock and the introduction of a new class of shares.
The Increase in authorized shares is intended to provide the company with greater flexibility for financial growth and strategic initiatives mentioned in its letter to the Shareholders dated April 30, 2024. The additional authorized shares may be used for a variety of purposes, including raising capital, potential acquisitions, and issuing stock-based compensation plans.
In addition, the company introduced a new class of shares: Series A Preferred shares. This new class of shares is intended to consolidate control of the company to its founders and key stakeholders, ensuring its long term vision and strategic direction.
"We believe that increasing the number of authorized shares along with the introduction of the Series A Preferred share reflects our commitment to supporting our 90 day plan while keeping the long term vision of our founders." Christina Moore, Director.
About Dinewise (PawnTrust)
Dinewise (OTC PINK:DWIS) through its company PawnTrust is a marketplace exclusively for Pawn Shops. PawnTrust acts as an intermediary between the Pawn Shop and consumer using the best technology to streamline borrowing, buying and bartering transactions through an app on a mobile phone. PawnTrust has established Pawn Partners, which are local Pawn Shops, in which inventory is extrapolated into the PawnTrust Marketplace. This allows the Pawn Shops to immediately and seamlessly have their inventory displayed nationally. PawnTrust works like an amplifier. Many of these local stores do not have a web presence nor capital to market their inventory on a national basis. By leveraging the PawnTrust national marketplace the local store can create incremental sales from a wider range of buyers. PawnTrust uses Artificial Intelligence (AI) in the marketplace platform to automate various workflows including advance image recognition algorithms in which items are automatically identified and descriptions are generated with remarkable accuracy which speeds up the process and standardizes the descriptions. This has the potential to transform the pawn industry where descriptive tags help to create a context based search for a user friendly interface. Using AI will bring an immersive and engaging customer experience.
PawnTrust is a publicly traded company on the OTC: Pink with symbol DWIS.
For more information, please go to: www.pawntrust.com
FORWARD-LOOKING STATEMENTS:
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.
CONTACT:
PawnTrust Investor Relations
(650) 228-0680
invest@pawntrust.com
SOURCE: Dinewise, Inc.
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