NEW YORK, NY -- August 15, 2024 -- InvestorsHub NewsWire -- Dear
Cashmere Holding Company (OTC:
DRCR) also known as Swifty Global (Swifty), is a cutting-edge
technology firm focused on creating ground-breaking solutions in
the sports betting sector. Swifty aims to drive shareholder value
through accelerated innovation and enhanced usability of the
products the company develops. With licenses spanning several
global jurisdictions, Swifty has successfully brought to market a
revolutionary suite of offerings. This includes the company’s
proprietary swipe betting sports prediction application, as well as
its traditional sportsbook and casino gaming platforms.
Swifty Global is pleased to announce the completion and
publication of the company's quarterly disclosure, now available on
the OTC Market website. For the second quarter of 2024, compared to
the same period in 2023, the company reported a robust financial
performance with the following key highlights:
- Cash on Hand: Increased by approximately
37%.
- Total Assets: Increased by $2.1 million,
representing a growth of approximately 35%.
- Liabilities: Reduced by $1.1 million, a
decrease of approximately 35%.
While revenue and net income were slightly reduced compared to
Q2 2023, this outcome was the result of the company’s contunued
efforts to conservatively manage its risk profile by limiting
exposure to larger players utilizing the Swifty platform, which in
turn impacted the company’s revenue and net income. Despite this,
the company’s strategic focus on long-term stability and growth has
paid off. The impressive results from the second quarter have led
to a significant increase in shareholders' equity, reaching $5.9
million. This achievement is a critical milestone, meeting the
listing requirements for major exchanges and providing Swifty with
a solid foundation for its planned transition to a major national
exchange.
Throughout this quarterly period, the company has been highly
focused on preparation for its uplisting to a national exchange,
with a strong emphasis on balance sheet strength and risk
reduction. By maintaining a disciplined approach and concentrating
on building value, Swifty Global has prioritized financial
stability by growing cautiously out of its own cash flow, avoiding
debt, and minimizing dilution. This strategy has positioned the
company extremely well for its next phase of growth and its planned
transition to a major national exchange. This focus will continue
into Q3 and Q4, with Swifty aggressively pursuing the uplisting
process and aiming to be fully operational on a major exchange by
Q4, 2024.
“We take great pride in what we have achieved at Swifty and the
strong financial health we've maintained across the company as we
release our Q2 2024 quarterly results. Our performance in Q2 is a
testament to the disciplined approach we've taken to build
long-term value,” said James Gibbons, CEO of Swifty
Global. “We’ve focused on fortifying our balance sheet and
reducing risk, which has positioned us well for the next phase of
our growth as we move toward listing on a major exchange. As we
continue to execute our strategy, we remain committed to
sustainable growth, leveraging our solid financial foundation to
pursue new opportunities, expand our market reach, and deliver
increased value to our shareholders.’’
During this period, Swifty successfully obtained and was
officially granted its gambling license for South Africa by the
National Gambling Board. This license, along with the Irish license
obtained in Q1 of this year, has positioned the company in a very
strong position to grow and scale its product offering into new
territories. After investing considerable time, effort, and
resources in securing these licenses, the company is now poised to
aggressively execute its scaling and growth strategy by expanding
its market reach and operational capabilities into these markets,
which have a combined gambling market valued at over $7.1 billion
annually.
For regular Swifty Global (DRCR) updates, you are invited you to
view the company’s website and/or to follow the company’s Twitter
and LinkedIn accounts:
Website: https://swifty.global
Twitter: https://twitter.com/SwiftyGlobal
LinkedIn: https://www.linkedin.com/company/swifty-global
Email: hello@swifty.global
Related links:
https://www.otcmarkets.com/stock/DRCR/profile
Source: DRCR
Forward-Looking Statement
Certain information set forth in this press release contains
"forward-looking information", including "future-oriented financial
information" and "financial outlook", under applicable securities
laws (collectively referred to herein as forward-looking
statements). Except for statements of historical fact, the
information contained herein constitutes forward-looking statements
and includes, but is not limited to, the (i) projected financial
performance of the Company; (ii) completion of, and the use of
proceeds from, the sale of the shares being offered hereunder;
(iii) the expected development of the Company's business, projects,
and joint ventures; (iv) execution of the Company's vision and
growth strategy, including with respect to future M&A activity
and global growth; (v) sources and availability of third-party
financing for the Company's projects; (vi) completion of the
Company's projects that are currently underway, in development or
otherwise under consideration; (vi) renewal of the Company's
current customer, supplier and other material agreements; and (vii)
future liquidity, working capital, and capital requirements.
Forward-looking statements are provided to allow potential
investors the opportunity to understand management's beliefs and
opinions in respect of the future so that they may use such beliefs
and opinions as one factor in evaluating an investment. These
statements are not guarantees of future performance and undue
reliance should not be placed on them. Such forward-looking
statements necessarily involve known and unknown risks and
uncertainties, which may cause actual performance and financial
results in future periods to differ materially from any projections
of future performance or result expressed or implied by such
forward-looking statements. Although forward-looking statements
contained in this presentation are based upon what management of
the Company believes are reasonable assumptions, there can be no
assurance that forward-looking statements will prove to be
accurate, as actual results and future events could differ
materially from those anticipated in such statements. The Company
undertakes no obligation to update forward-looking statements if
circumstances or management's estimates or opinions should change
except as required by applicable securities laws. The reader is
cautioned not to place undue reliance on forward-looking
statements. The Securities and Exchange Commission ("SEC") has
provided guidance to issuers regarding the use of social media to
disclose material non-public information. In this regard, investors
and others should note that we announce material financial
information via official Press Releases, in addition to SEC
filings, press releases, Questions & Answers sessions, public
conference calls and webcasts also may take time from time to time.
We use these channels as well as social media to communicate with
the public about our company, our services, and other issues. It is
possible that the information we post on social media could be
deemed to be material information. Therefore, in light of the SEC's
guidance, we encourage investors, the media, and others interested
in our company to review the information we post on the following
social & media channels: Website: https://swifty.global, Twitter: https://twitter.com/SwiftyGlobal.
Dear Cashmere (PK) (USOTC:DRCR)
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