NEW YORK, NY, July 21, 2022 (GLOBE NEWSWIRE) -- via NewMediaWire -- Dear Cashmere Holding Company (OTC: DRCR) known as Swifty Global (Swifty), is a technology company focused on creating ground-breaking solutions in the Financial and Sports Betting Sectors. The company has developed two disruptive mobile applications (apps) for sports predictions and a digital wallet which encompasses Artificial Intelligence (AI) and Cryptocurrency/Blockchain Transactions.
Swifty holds UK and Curacao gambling licenses, with further licenses pending in several countries. Now, the company has received its coveted GLI License, which allows it to launch its Swifty Predictions swipe betting application (app). The GLI License is a requirement to operate in the highly regulated gambling market as it confirms that the product has been successfully tested and is certified to be legally scalable and compliant according to the relevant country regulations.
Swifty is not only a gambling business but also a software technology developer and provider. The company develops its own software and is able to share revenues with other betting companies, giving it a huge advantage over other betting applications. Swifty’s technology has its own unique built in Artificial Intelligence (AI) and the added GLI compliance now means that Swifty will be able white label its app for other gambling companies to use in their markets where they have relevant licensing. This will significantly speed up the Swifty roll out. Cost effective, certified technology, and licensing are the most challenging requirements of any gambling business. Swifty has successfully overcome these challenges in just over a year and the company is now fully operating in its first jurisdiction and is in a perfect position to roll out into other territories.
Swifty will operate a dual attack strategy where it will either operate its own software in strategic territories where it has its own licenses or has applied for licenses, and it will simultaneously license the technology to other betting companies in other markets where the partner already has the relevant required gambling license but not the ability to have developed their own innovative betting software application.
A further exciting development for Swifty is that the company has obtained seven further key personnel as well as a large book of prestigious VIP clientele. As a result, Swifty is progressing with a lucrative VIP sportsbook and casino offering which is due to go live in the coming month. The online casino complements the Swifty Predictions app, has an extensive existing VIP client base, and is expected to generate substantial revenue for Swifty. It will support all major sports and will be available in the majority of countries. The online platform is ready for launch pending KYC integration.
As a brand, Swifty now has several vital payment gateways, licenses, and offerings available and is fully operational with its core technology development team based in Dubai and Eastern Europe. Its technology development team combines forces with Swifty’s highly experienced gambling team based in Leeds, United Kingdom, where the team houses over 150 years of combined relevant experience that is critical to the ongoing growth of the company.
Given the high scalability of Swifty’s business and technology, its management team are seeking acquisition targets and strategic partnerships, with the goal of targeting a $1 billion valuation within a couple of years.
Swifty is nearing its audit completion and is expected to file its Form 10 by late summer to become fully reporting with a name and ticker change to follow thereafter.
Swifty confirms that it is cancelling more than 15 million outstanding shares. This has been approved and the company is completing its legal documentation and process with the transfer agent.
Swifty Global CEO, James Gibbons commented: “Today is monumental for Swifty shareholders, its management, and staff. Swifty is now fully operating after more than a year of software development, technology audits and regulatory approvals. This now opens the door to global expansion and rapid scale up. Now that Swifty is fully operating, we will become much more active in the social media channels with updates. We have been getting the foundations of a mega business into place which gives us the potential to be worth billions in future. I would like to thank our Shareholders for their patience and support along the journey so far and we look forward to achieving great things in future.”
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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: