SIGNING DAY SPORTS INC - SGN STOCK NEWS

Signing Day Sports (SGN) has signed a binding term sheet to acquire 95-99% of Swifty Global, a sports and casino technologies company. This all-equity deal marks SGN's new growth strategy in the sports and casino technology industry. Key points:

1. Swifty achieved $128 million revenue and $2.44 million net profit in FY2023.
2. Transaction based on $14 million equity value for SGN and $156 million for Swifty.
3. SGN shareholders to retain 8.24% of post-transaction company; 91.76% issued to Swifty stockholders.
4. Swifty CEO James Gibbons to become CEO of combined company.
5. Closing anticipated by October 31, 2024, subject to conditions.

The acquisition aims to leverage Swifty's development team, reduce costs, and accelerate SGN's product development and rollout plans.

Signing Day Sports (NYSE American: SGN) reported strong financial results for Q2 and H1 2024. The company achieved 75% year-over-year revenue growth for Q2 2024 and 157% growth for H1 2024. Revenue totaled $0.20 million in Q2 and $0.44 million in H1 2024. The growth was primarily driven by increases in event and subscription revenue. Paid subscriptions increased by 42% in Q2 and 96% in H1 compared to 2023. The retention rate for paid subscriptions was over 45% for Q2 2024.

Despite revenue growth, the company reported a net loss of $1.3 million in Q2 and $3.8 million in H1 2024. General and administrative expenses increased significantly. The company expanded its platform to include baseball, softball, and soccer recruitment, and formed strategic alliances to gain access to key recruitment events.

Signing Day Sports (NYSE American: SGN) reported a 334% year-over-year revenue growth for Q1 2024, reaching approximately $235,000 compared to $54,000 in Q1 2023. Monthly paid subscriptions increased by over 200%, and the conversion rate from free trials to paid subscriptions exceeded 40%. The company has focused on expanding its app and user base, including bringing app development in-house and hiring an in-house engineer. However, higher expenses were noted, including $2.1 million in advertising, marketing, and administrative costs, leading to a net loss of $2.5 million for Q1 2024, up from $865,000 in Q1 2023.

Signing Day Sports, Inc. provided an update on its annual report, revealing audited financial statements for the fiscal year ended December 31, 2023. The report included an audit opinion with a going concern emphasis of matter paragraph. This announcement is in compliance with NYSE American regulations and does not alter any previous filings for the year.

Signing Day Sports appoints Jeff Hecklinski as President and Board Member, bringing extensive NCAA football experience to aid in the growth of the Signing Day Sports app for high school athletes.

Signing Day Sports, Inc. (SGN) launches a new line of high-quality apparel products, including pre-scrunched socks, leg sleeves, streamer towels, and U.S. Army Bowl performance shirts. Future expansions to include mouthguards, backpacks, sweatshirts, hats, and more. The company aims to cater to athletes' needs with innovative features for superior comfort, mobility, and performance.

Signing Day Sports, Inc. (SGN) appoints Peter Borish, a seasoned professional in capital markets, to its board of directors. Borish brings vast experience in strategic planning and leadership development. His addition is expected to benefit the Company post-IPO by enhancing the app and ecosystem for student-athletes.

Signing Day Sports, Inc. (SGN) has launched a new line of dietary supplements specifically designed to support the recruitment of student-athletes. The supplements include 'Create,' a performance-boosting creatine; 'Build,' a whey protein powder; and 'Stingrs,' energy chews. These products aim to enhance energy levels, promote muscle growth, and delay fatigue. Richard Symington, President and Chief Technology Officer of Signing Day Sports, expressed excitement about the launch, emphasizing the company's commitment to enhancing student-athlete performance and opportunity. The company plans to introduce additional products in the future to support student-athlete diet and nutrition.

Signing Day Sports, Inc. has reported a 20% sequential monthly growth in paid subscribers for its Signing Day Sports app in January 2024 compared to December 2023. The company achieved a five-fold increase in the number of paid subscribers in 2023, indicating rapid growth and a positive experience for coaches and student-athletes. The growth has been attributed to collaborations with key student-athlete recruiting organizations, such as the U.S. Army Bowl and Elite Development Program Soccer, which have allowed for bulk registrations on the app. The U.S. Army Bowl National Combine Series, with 21 events over the next five months, is expected to bring in over 4,000 student-athletes to experience the app's benefits, further contributing to the company's growth.