“Signing Day Sports Discloses Audited Financial Statements for Acquisition of Swifty Global”

Signing Day Sports, Inc. (NYSEAMERICAN:SGN), a digital platform assisting high school athletes in their recruitment process, has filed audited financial statements concerning its intended acquisition of Swifty Global, currently trading as Dear Cashmere Group Holding Company (DRCR).

The Delaware-based corporation filed the audited records for DRCR’s fiscal years ended December 31, 2023, and 2022. The report also includes the unaudited financial statements for the nine months ending September 30, 2024, and 2023. All these statements, dated February 20, 2025, are part of a Form 8-K submitted to the Securities and Exchange Commission (SEC).

Signing Day Sports’ move is linked to its recent entry into the Stock Purchase Agreement (the Purchase Agreement) dated January 28, 2025. As part of this agreement, the company aims to acquire 99.13% of Swifty Global’s issued and outstanding capital stock.

For the fiscal year 2023, Swifty Global reported net gaming revenues of approximately $8.7 million, a significant jump from around $2.4 million in 2022. The operating expenses were about $5.9 million, up from approximately $2.0 million in the previous year. This led to an income from operations of around $2.9 million, compared to approximately $0.4 million in the preceding year. The net income was approximately $2.4 million, up from about $0.4 million in 2022.

For the nine months ended September 30, 2024, Swifty registered net gaming revenues of approximately $5.1 million, albeit a drop from the $6.9 million recorded for the same period in 2023.

In addition, Signing Day Sports released unaudited pro forma financials reflecting the combination of its financial position and that of Swifty. These are expected to mirror the financial conditions had the two companies been a single entity during the specified periods.

Commenting on the filing, Signing Day Sports’ CEO, Daniel Nelson, said, “Taking this step is important to the shared goal of bringing this acquisition together. Together, we expect to push the boundaries of innovation between Swifty Global and Signing Day Sports, extend our reach in established and emerging markets, and deliver greater value to our customers and stakeholders.”

These filings and financial statements can be accessed on the SEC’s website.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Signing Day Sports’s 8K filing here.

About Signing Day Sports

Signing Day Sports, Inc, a technology company, engages in developing and operating platforms to give student-athletes the opportunity to go to college and continue playing sports. The company offers Signing Day Sports, a sports recruitment platform that help athletes get discovered and recruited by coaches and recruiters across the country.