NEW YORK, NY, April 09, 2024 (GLOBE NEWSWIRE) -- via NewMediaWire -- 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 annual return disclosure for 2023, now available on the OTC Market Website. Swifty recorded a company record revenue of $128,886,432 and returned a net profit of $2,442,802 for the year, an achievemnt made even more impressive by the significant expenses and investments in product development and licensing fees made throughout the year. The company has achieved extraordinary organic growth with minimal debt and now has shareholders' equity of $5,473,198. The 2023 results position Swifty in a very strong financial position, from which it can continue to grow and expand exponentially into 2024. Swifty has continued its focus on international growth and expansion by rolling out its Software-as-a-Service (SaaS) B2B gaming platform along with securing successful partnerships in Ireland with licenses also pending in additional jurisdictions, including South Africa and Malta.
The impressive results from 2023 have provided Swifty with a solid platform for transitioning to a major national exchange, and following today's record results, Swifty is pleased to announce that it is in the final stages of discussions and negotiations to enter into a reverse merger with a company listed on a national exchange. This transition from the OTC market to a major exchange will enable the company to unlock and deliver true value for its shareholders. The move will also increase the company's visibility to institutional investors and will significantly aid the company in securing the funding required to reach the next stage of growth for the business and allow the execution of a number of strategic acquisitions. It is hoped that this process and the negotiations surrounding this deal will be concluded in the coming weeks.
“We are incredibly proud of what we've accomplished at Swifty as we publish our 2023 annual disclosure. Achieving record revenues of $128,886,432 with minimal debt is a tremendous testament to the exceptional effort and dedication of our team throughout the year, who have helped to secure this significant achievement. This success has helped to solidify a healthy balance sheet and places us in a very positive position as we look to finalize what will be one of the most significant moves in our company's history by uplisting to a major exchange. This move will unlock additional value for our shareholders and provide us with the resources needed to deliver the next phase of our growth trajectory,” commented James Gibbons, CEO of Swifty Global.
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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.
