Dinewise, Inc. (DWIS) Releases Corporate Update for the Coming Year
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 (DWIS) ha annunciato diversi sviluppi strategici per la sua operazione fintech, PawnTrust. L'azienda prevede di acquisire un negozio di pegni, un concessionario di auto usate e un negozio di liquori entro il prossimo anno. Il marketplace di PawnTrust presenta una tecnologia basata su intelligenza artificiale e ha una versione beta che ha ricevuto feedback positivi. Il lancio completo è previsto all'inizio del secondo trimestre del 2025, con 100 negozi di pegni già firmati. L'azienda sta sviluppando una soluzione online per prestiti garantiti da titolo e prevede di completare una lettera di intenti con una società fintech entro la fine del mese. PawnTrust ha semplificato il processo di prestito su titolo a 20 minuti online. L'azienda sta lavorando alla riduzione del debito, alla creazione di una linea di credito senior e alla ricerca di approvazione normativa per un cambiamento di nome e simbolo azionario.
Dinewise (DWIS) ha anunciado varios desarrollos estratégicos para su operación fintech, PawnTrust. La empresa planea adquirir una casa de empeño, un concesionario de autos usados y una tienda de licores en el próximo año. El mercado de PawnTrust cuenta con tecnología impulsada por inteligencia artificial y tiene una versión beta que ha recibido comentarios positivos. Se espera que el lanzamiento completo sea a principios del segundo trimestre de 2025, con 100 casas de empeño firmadas. La empresa está desarrollando una solución de préstamos sobre título en línea y planea completar una carta de intención con una empresa fintech para fin de mes. PawnTrust ha simplificado el proceso de préstamo sobre título a 20 minutos en línea. La empresa está trabajando en la reducción de deudas, estableciendo una línea de crédito senior y persiguiendo la aprobación regulatoria para un cambio de nombre y símbolo de ticker.
Dinewise (DWIS)는 자사의 핀테크 운영인 PawnTrust에 대한 여러 전략적 개발을 발표했습니다. 이 회사는 향후 1년 이내에 전당포, 중고차 매장 및 주류 매장을 인수할 계획입니다. PawnTrust의 시장은 AI 기반 기술을 특징으로 하며 긍정적인 피드백을 받고 있는 베타 버전을 보유하고 있습니다. 전체 출시 일정은 2025년 2분기 초로 예정되어 있으며, 100개의 전당포 계약이 체결되었습니다. 이 회사는 온라인 제목 대출 솔루션을 개발 중이며 월말까지 핀테크 회사와 LOI를 완료할 계획입니다. PawnTrust는 온라인으로 20분 만에 제목 대출 프로세스를 간소화했습니다. 이 회사는 부채 감축, 시니어 신용 시설 설립 및 이름 및 티커 기호 변경을 위한 규제 승인 추구에 대해 작업하고 있습니다.
Dinewise (DWIS) a annoncé plusieurs développements stratégiques pour son opération fintech, PawnTrust. L'entreprise prévoit d'acquérir un magasin de prêts sur gage, un concessionnaire de voitures d'occasion et un magasin d'alcools dans l'année à venir. Le marché de PawnTrust dispose d'une technologie alimentée par l'IA et possède une version bêta qui reçoit des commentaires positifs. Le lancement complet est prévu pour le début du deuxième trimestre 2025, avec 100 magasins de prêts sur gage sous contrat. L'entreprise développe une solution de prêt sur titre en ligne et prévoit de finaliser une lettre d'intention avec une entreprise fintech d'ici la fin du mois. PawnTrust a rationalisé le processus de prêt sur titre à 20 minutes en ligne. L'entreprise travaille sur la réduction de la dette, l'établissement d'un crédit senior et recherche l'approbation réglementaire pour un changement de nom et de symbole boursier.
Dinewise (DWIS) hat mehrere strategische Entwicklungen für seine Fintech-Operation PawnTrust angekündigt. Das Unternehmen plant, im kommenden Jahr einen Pfandhaus, ein Gebrauchtwagenhaus und einen Spirituosenladen zu erwerben. Der Marktplatz von PawnTrust verfügt über KI-gestützte Technologie und hat eine Beta-Version, die positive Rückmeldungen erhält. Der vollständige Launch wird Anfang des zweiten Quartals 2025 erwartet, mit 100 unterzeichneten Pfandhäusern. Das Unternehmen entwickelt eine Online-Lösung für Titelkredite und plant, bis Ende des Monats eine LOI mit einem Fintech-Unternehmen abzuschließen. PawnTrust hat den Titelkreditprozess auf 20 Minuten online optimiert. Das Unternehmen arbeitet an der Reduzierung von Schulden, der Einrichtung einer Senior-Kreditfazilität und der Beantragung regulatorischer Genehmigungen für eine Namens- und Tickersymboländerung.
- Beta version of proprietary software receiving positive feedback
- Secured commitments from 100 pawnshops for Q2/2025 platform launch
- Developed 20-minute online title loan process, improving on traditional methods
- Plans for establishing senior credit facility to fund growth
- Company maintains current filing status
- Company carrying debt that needs reduction
- No current revenue figures provided
- Multiple acquisitions pending but no definitive agreements yet
Discussion of Completed Milestones and New Initiatives
ATLANTA, GA, Nov. 07, 2024 (GLOBE NEWSWIRE) -- Dinewise, Inc (OTC PINK-DWIS) (referred to as "Dinewise", "we", "us", "our" or the "Company") a fintech company operating as PawnTrust, Inc., providing solutions to the pawn shop industry today announces its corporate update on the completion of certain strategic priorities previously mentioned in its initial update earlier this year.
The groundwork for market expansion has been moving forward. This year the company has identified a brick and mortar pawn shop, as well as a used car dealership and liquor store slated for definitive acquisition agreements in the coming year.The company has also been working very closely with an online microlending company developing an online solution for title loans.
The PawnTrust marketplace has a working beta version of its proprietary software that is receiving excellent feedback from both customers and pawshops. This is in part due to our excellent choice of software developers which has been very responsive and has great attention to detail including both aesthetics and functionality. The full launch is expected early Q2/2025 and will encompass at least 100 pawnshops that have signed on. There are nearly 11,000 pawn shops nationwide.
PawnTrust leverages Artificial Intelligence (AI) within its marketplace platform to enhance sales. By using AI-driven descriptive tags, the platform creates a context-based search that provides a user-friendly interface that offers an immersive and engaging experience. This makes it easier to find and interact with items of interest, ultimately driving both customer satisfaction and sales growth.
It is expected that AI will automate various workflows including advanced image recognition algorithms. Items are automatically identified and descriptions are generated with remarkable accuracy which speeds up the process and standardizes the descriptions. This revolutionary technology will enhance PawnTrust’s lending process, and improve the overall customer experience while optimizing our operational expertise. The company views AI as a vital component of its strategy to stay competitive and compliant in a rapidly changing financial industry.
The company plans to complete an LOI of a fintech company by the end of the month. At this time, the company's online applications have the AI framework embedded in the application and websites. This fintech company has developed an online solution for Title Pawn. The top 3 title loan companies responsible for
The company has identified a number of board members with the prerequisite experience necessary to help the company achieve its market penetration in the industry. The company is also in active discussions with regulators to accomplish both a name and ticker symbol change in the new year. The company is current in its filings and plans to maintain this going forward, and understands the importance of upholding transparency to its shareholder base.
The company is working hard to reduce its debt and understands its importance. The company plans to achieve debt reduction by increasing its revenues and cash flow. A key initiative is the establishment of a senior credit facility. The groundwork is in place to have this credit facility in the new year along with an experienced industry veteran ready to take the reins. This credit line will provide the company with the financial flexibility to pursue growth opportunities in the Fintech sector. When established, this will allow Dinewise the ability to fund its growth, manage cash flow, and improve its overall financial position.
“The global pawnshop market could reach 46.4 billion by 2028 and title loans are expected to be a large percentage of this market,” said CEO Christina Moore. “The company is uniquely positioned to grow. According to Bankrate,
About PawnTrust
PawnTrust is an exclusively tailored marketplace for the estimated 11,000 pawn shops nationwide. The online marketplace(www.pawntrust.com) digitizes the inventory using advanced image recognition algorithms to automate item descriptions of the participating pawn shops and markets them on a national scale. The marketplace contains cutting-edge technology that streamlines the borrowing, buying, and bartering transactions typically found at a pawn shop. The platform plans to leverage Artificial Intelligence (AI) to optimize pricing, reduce fraud, and create personalized search recommendations to enhance the customer's experience. These enhancements let consumers experience a frictionless shopping experience on their mobile app that gives them instant access to this nationwide inventory of pawn shops. Not only does this provide a more efficient way for consumers to shop, eliminating the need to visit multiple stores, but it also amplifies the reach of individual pawn shop owners. By joining the PawnTrust- 'Pawn Partners' network, shop owners gain access to a broader audience, enhancing their visibility and sales opportunities. This innovative approach aligns customer convenience with business growth, reshaping how people interact with the pawn industry. Consumers that purchase items outside of their local area will have their items conveniently shipped to them. As the intermediary in each transaction, PawnTrust earns a fee on every item sold in the marketplace. Many of these local pawn shops lack an online presence or the capital to market their inventory on a national scale. By bridging this gap, PawnTrust opens up opportunities for incremental sales from a wider buying base, effectively transforming the pawn shop and micro-lending industries. This model not only supports local businesses but also extends their reach, driving growth and innovation within the market.
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.
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FAQ
When will Dinewise (DWIS) launch its full PawnTrust marketplace platform?
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