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Signing Day Sports, Inc. (NYSE American: SGN) is a leading technology company dedicated to revolutionizing the college sports recruitment process for high school athletes. The company's flagship platform, Signing Day Sports, is a comprehensive digital ecosystem designed to help student-athletes get discovered and recruited by coaches and recruiters nationwide.
Through the Signing Day Sports app, high school athletes can create robust recruitment profiles that include video-verified measurables (such as height, weight, and 40-yard dash times), academic information (like transcripts and SAT/ACT scores), and technical skill videos. This extensive data set is essential for college coaches to evaluate and verify the athletes' capabilities, making the recruitment process more efficient and transparent.
The company has achieved significant milestones, including record participation at the 2023 U.S. Army Bowl Week, where 1,000 new athletes signed up for the app. It also announced a schedule of 21 events for the 2024 U.S. Army Bowl National Combine Series, which will expose over 4,000 student-athletes to its platform. These events are crucial in providing recruitment exposure and promoting the app to new users.
Financially, Signing Day Sports has reported a 334% year-over-year revenue increase for Q1 2024, reflecting its expanding influence and growing subscriber base. The company has also diversified its revenue streams by launching a new line of dietary supplements and branded apparel, catering to the holistic needs of student-athletes.
The company's mission is to help student-athletes achieve their dream of playing college sports. With plans to expand its platform to support additional sports, Signing Day Sports continues to innovate and grow, offering unparalleled support and opportunities for aspiring college athletes.
Signing Day Sports (NYSE: SGN) has filed audited financial statements for Swifty Global's fiscal years 2023-2022 and unaudited statements for Q1-Q3 2024-2023, along with pro forma financials related to its planned acquisition of 99.13% of Swifty Global.
Swifty Global's performance shows net gaming revenues of $8.7M in 2023 (up from $2.4M in 2022) and net income of $2.4M (up from $0.4M). For the first nine months of 2024, revenue was $5.1M with net income of $0.6M.
The pro forma combined financials for 2023 show total net revenues of $9.0M with a net loss of $3.0M. For the first nine months of 2024, combined revenues were $5.6M with a net loss of $4.8M, primarily due to operating expenses of $9.4M against a gross profit of $5.5M.
Signing Day Sports (NYSE American: SGN) has extended its rights as 'National Recruiting Partner' to the U.S. Army Bowl through 2026. The new Sponsorship Agreement allows SGN to manage National and Regional Combines while promoting its app and services with revenue-sharing opportunities.
The collaboration has already brought over 8,000 new football users to SGN's SaaS platform. In 2024, nearly 3,000 student-athletes participated in Regional Combines, with projections exceeding 4,000 in 2025. The company will receive a $60 stipend per athlete attending the National Combine and $135 of any academy fee, plus commissions for academy sales.
Participants receive video-verified combine data in their Signing Day Sports app, which allows direct communication with coaches nationwide through an updated coaches search tab after a free trial period.
Signing Day Sports (NYSE: SGN) has signed a Stock Purchase Agreement to acquire 99.13% of Dear Cashmere Group (Swifty Global), a profitable online sports and casino technologies company. Swifty Global reported $128 million in revenue and $2.44 million in net profit for FY2023.
The deal structure involves SGN issuing shares representing 19.99% of its outstanding common stock at closing, with additional shares in convertible preferred stock. Post-transaction, legacy SGN shareholders will retain approximately 8.24%, while Swifty Global stockholders will receive about 91.76%. James Gibbons will become SGN's CEO and join its board.
Both companies aim to raise $2 million in financing, split equally. The transaction requires Nasdaq approval and stockholder consent. The merger is expected to leverage Swifty Global's SaaS technology to reduce costs by over 50% and accelerate product development, while expanding into European, African, and Middle Eastern markets.
Signing Day Sports (NYSE: SGN) has announced its schedule as National Recruiting Partner for the 2025 U.S. Army Bowl Regional Combine Series. The series will feature 14 events from February through May 2025, expecting to attract over 3,500 student-athletes across major football states including Georgia, Florida, Texas, California, Ohio, and Alabama.
Each event is anticipated to host at least 250 athletes, who will receive access to the Signing Day Sports app and platform, designed to support their recruiting journey. The series has shown significant growth, expanding from 600 participants in 2023 to an expected 3,500 in 2025. The combines serve as a qualification step for athletes seeking selection for the 2025 U.S. Army Bowl National High School All-American game.
Signing Day Sports (NYSE American: SGN) announces the upcoming 3rd Annual US Army Bowl National Combine, scheduled for December 18-21, 2024, at The Star, the Dallas Cowboys Practice Facility in Frisco, Texas. The event, expected to be the largest combine-style event in the country, will feature prospects from nearly every state. All participants will receive a one-month free trial of the Signing Day Sports app to enhance their visibility to college recruiters. The event generates revenue through registration fees and exclusive apparel sales, while strengthening the company's brand presence.
Signing Day Sports (NYSE: SGN) reported financial results for Q3 2024, showing 119% revenue growth to $0.49 million for the nine months ended September 30, 2024, compared to $0.23 million in 2023. The company experienced a 60% increase in student-athlete subscriptions compared to Q3 2023. However, net loss widened to $5.41 million ($0.34 per share) from $2.68 million ($0.35 per share) in the comparable period. Q3 2024 quarterly revenue remained flat at $0.06 million, while quarterly net loss increased to $1.60 million from $0.9 million year-over-year.
Signing Day Sports (NYSE: SGN) has extended the deadline to close its acquisition of Swifty Global from October 31 to November 22, 2024. The extension aims to secure necessary regulatory approvals. Swifty reported strong financial performance with $128 million in revenue and $2.4 million in net profit for FY2023. The planned acquisition would combine Signing Day Sports' recruitment platform with Swifty's SaaS-based gaming software and licensed operations in sports betting. The transaction involves acquiring 95-99% of Swifty's shares, subject to due diligence, definitive agreements, stockholder approval, and NYSE American listing requirements.
Signing Day Sports (NYSE American: SGN) announced a 1-for-48 reverse stock split effective November 16, 2024. The split will reduce outstanding shares from approximately 27.02 million to 0.56 million, and the public float from 20.56 million to 0.43 million shares. Trading under the same symbol SGN will begin on a split-adjusted basis on November 18, 2024, with a new CUSIP number 82670R 305.
Signing Day Sports (NYSE American: SGN) has provided an update on its acquisition of Swifty Global (OTC:DRCR). Key points include:
1. Both management teams are working on a strategic roadmap for growth and shareholder value.
2. Swifty has committed $150,000 in capital to Signing Day Sports via a promissory note to facilitate the closing process.
3. The companies have signed a binding term sheet for Signing Day Sports to acquire 95-99% of Swifty's shares.
4. The closing is subject to due diligence, definitive agreements, and post-closing requirements including NYSE American approval.
5. Both CEOs expressed confidence in the progress and potential of the combined entity.
Signing Day Sports (NYSE American: SGN) announces the 3rd Annual US Army Bowl National Combine, set for December 18-21, 2024, at The Star, the Dallas Cowboys Practice Facility in Frisco, Texas. Expected to be the largest football combine in the nation for 2024, the event aims to attract over 1,500 participants from high school classes of 2026, 2027, and 2028.
The combine will generate upfront revenue through event registration fees and exclusive merchandise sales to participants and fans. It precedes the prestigious US Army National High School All-Star Game and offers enhanced visibility to college recruiters and professional scouts through the Signing Day Sports app integration.
Jeff Hecklinski, President of Signing Day Sports, expressed excitement about hosting the event at a world-class venue and anticipates a record-setting event in terms of attendance and talent showcase.
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