Dear Cashmere Holding Company (OTCMKTS:DRCR) Stock Continues To Trend Lower
Dear Cashmere Holding Company (OTCMKTS:DRCR), or Swifty Global, is a technology company focusing on the creation of solutions in Sports betting and fintech sectors. The firm has licenses for a number of jurisdictions and also launched proprietary swipe betting Casino Gaming platforms, Sports Predictions applications, and traditional Sportsbook in 2022.
Trading Data
On Monday, DRCR stock decreased 1.61% to $0.1310 with more than 101.70K shares, compared to volume of 153.89K shares. The stock moved within a range of $0.1260 – 0.1390 after opening trade at $0.1342.
Swifty Global Announces Acquisition of Business-to-Business Contracts and Technology from GLNetworks Ltd in Five Countries
The company is implementing its growth strategy even as it witnessed an impressive 2022 and quarter one of 2023. The company acquired 100% of the business-to-business technology and contracts from GLNetworks Ltd in an all-cash deal.
This technology will boost its offering and will enable the company to roll out services in five African countries. These markets are strong betting countries having a potential market size of 182 million users. It would initially be rolled out through operators in countries including Kenya, Tanzania, Uganda, and Zambia.
The company will be having a payback period of six months on the investment. The operators have a list of over 1.35 million active customers. The technology from GLN is complementary to the company’s technology and Africa provides significant market potential with 1.2 billion users. The firm is aiming to foray into the South African market in some weeks as well.
Swifty Global CEO, James Gibbons said that the company is delighted on concluding the deal and have a robust presence in the African market. Gibbons added that the company now also has important team members, who can help deliver revenue targets and milestones.
