NEW YORK, NY, May 15, 2023 (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 Fintech and Sports Betting Sectors. In 2022, the company already successfully obtained several licenses and launched its proprietary sports predictions swipe betting application, a traditional Sportsbook, Casino Gaming platforms, and a global digital wallet during the second half of 2022. As a result, the company is now actively executing its global growth strategy as demonstrated by its financial results.

Today, Swifty filed its impressive Quarter 1, 2023 financial results, with all metrics substantially increased from the same period 2022. The results are excellent considering that the company launched its first product to the market less than 12 months ago and has grown organically while also increasing its cash reserves and profitability. Swifty's rapid growth trajectory is illustrated by revenues reaching $19 Million in the Q1 2023 vs $165,000 in Q1 2022, a quarter of quarter increase of 11,500%. Cash in the bank has also increased by 7,166% during the same period.

Swifty is fundamentally a technology company, having developed its own platforms, gaming technology and applications which it is in the process of rolling out under its global expansion plan. The in-house developed technology allows Swifty to expand even faster with less risk and less demand on its cash reserves. Under this model, the company is able to license its technology out to operators in specific regions who already have a large customer base, in return for a revenue share on all their bets. The company is expected to announce its first technology licensing deal during the month of May 2023, covering five countries.

Swifty intentionally delayed filing its S-1 Registration Statement during the first quarter for several strategic reasons including but not limited to macroeconomics, general alignment timing, and strategic planning for an uplist. However, the company intends to file its S-1 during the second quarter of 2023.

Swifty Global CEO, James Gibbons, commented: "I'm very proud of what the team has accomplished this quarter. We are tracking on or ahead of target in every area of the business. We are focused and determined to deliver our business plan ahead of schedule this year, setting the foundation for even greater accomplishments in the future."

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:

Website:
Swifty Gaming Website:
Twitter:
LinkedIn:
Email: hello@swifty.global

Related links:

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:
Twitter: