NEW YORK, NY, Oct. 03, 2022 (GLOBE NEWSWIRE) -- via NewMediaWire -- Dear Cashmere Holding Company (OTC: DRCR), known as Swifty Global (Swifty), is a technology company focused on creating groundbreaking solutions in the Fintech and Sports Betting Sectors. The company has already developed and launched two disruptive mobile applications (apps) for sports predictions in the United Kingdom (UK) and a global digital wallet which encompasses Artificial Intelligence (AI) and Cryptocurrency/Blockchain Transactions.
Swifty has successfully launched Swifty Gaming which has been well received by our growing international client base. We are now moving to expand our international markets and grow our client numbers exponentially. During the month of September, Swifty Gaming generated $3.5 million revenue; this is a small percentage of our current network client database. Swifty forecasts to double its monthly revenue to $7 million by December 2022. The onboarding process is labour intensive, but we are expanding the team and are onboarding as many users as quickly as possible. Under the company’s highly regulated gambling licenses, the onboarding of these clients involves KYC (Know Your Customer) and AML (Anti Money Laundering) verification before verifying and setting up their accounts.
Following a stronger than anticipated uptake and the bullish outlook of its client base, in conjunction with upcoming major sporting events such as Cricket World Cup and FIFA World Cup (Soccer), the company has updated its short- and medium-term outlook. Swifty anticipates delivering an annual revenue run rate of $75 to $100 million and in the medium- to long-term; the company anticipates reaching a billion dollars in annual revenue within the next few years through both organic and acquisition growth.
Swifty primarily develops its own certified software in-house and other than the live sporting data feeds, the company relies on very little software development outsourcing. Therefore, management believes that the company can operate at a significantly leaner cost base than the market average. This presents the opportunity for Swifty to invest heavily in marketing of its Swifty Predictions betting application (swipe based) over the next 12 months given that Swifty’s Gaming division is generating exceptional revenue off the back of an extremely lean cost base.
Having nearly completed its soft launch of Swifty Predictions, a swipe based low value high frequency sports betting application in the UK market, the company has also developed Artificial Intelligence (AI) capability which helps deliver the events a user may want to participate in and presents a series of targeted betting cards to the user. Offering betting in all major sports and competitions, the user can swipe right in order to place a bet in a matter of seconds or swipe left to skip to the next bet. Betting amounts are controlled by the user but are typically between $1 and $10. This means users can merely view a betting card and decide if they want to place the bet on a particular outcome or event.
Swifty is preparing for its global roll out of the Swifty Predictions app, with an aggressive rollout in the UK commencing from the beginning of October. This will be followed by a global rollout plan in 2023. Swifty’s growth strategy is highly scalable in a relatively short period of time, with the Swifty Predictions app expanding horizontally through a wide spectrum of individual users across a large geographic area giving them high frequency, low risk betting access to a wide range of popular sports. In contrast, the Swifty Gaming business is very niche, growing vertically with a more select international clientele. The Swifty Gaming business is bolstered by a highly experienced gambling team with more than 150 years combined experience.
The unique offering of the Swifty Predictions app and its proprietary technology could alone achieve a commercial valuation of several hundred million dollars in the near future and potentially over a billion dollars within three to five years.
Swifty Global CEO, James Gibbons, commented: “The company is now perfectly placed for its expansive growth plans, with a strong, highly experienced team and revolutionary certified software. Added to this, we are also excited about the upcoming submittal of our documentation in order to become fully reporting and to change our ticker and company name change from Dear Cashmere in the coming month.”
For regular updates, you are invited you to follow Swifty Global on Twitter and LinkedIn.
For further information on the company’s latest news please see their communication channels:
Swifty Predictions Website: https://www.swiftypredictions.co.uk
Swifty Gaming Website: https://www.swiftygaming.com
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:
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