Signing Day Sports files audited financial statements for Swifty Global

Signing Day Sports (SGN) announced the filing of the audited financial statements of Dear Cashmere Group, doing business as Swifty Global , as of and for the fiscal years ended December 31, 2023 and 2022, and the unaudited financial statements of Swifty Global as of and for the nine months ended September 30, 2024 and 2023, in connection with the recently announced executed Stock Purchase Agreement to acquire 99.13% of the issued and outstanding capital stock of Swifty Global. In addition, the Company filed unaudited pro forma financial statements. The pro forma financial statements are intended to represent the combination of the financial position and results of Signing Day Sports and Swifty Global as of September 30, 2024 and for the year ended December 31, 2023 and the first nine months of 2024. Highlights of Swifty Global for Fiscal Years 2023 and 2022: Net gaming revenues were approximately $8.7M for the fiscal year ended December 31, 2023, compared to approximately $2.4M for the comparable 2022 period. Operating expenses were approximately $5.9M for the fiscal year ended December 31, 2023, compared to approximately $2M for the comparable 2022 period. Income from operations was approximately $2.9M for the fiscal year ended December 31, 2023, compared to approximately $0.4M for the comparable 2022 period. Net income was approximately $2.4M for the fiscal year ended December 31, 2023, compared to approximately $0.4M for the comparable 2022 period. Highlights of Swifty Global for the Nine Months Ended September 30, 2024 and 2023: Net gaming revenue was approximately $5.1M for the nine months ended September 30, 2024, compared to approximately $6.9M for the comparable 2023 period. Operating expenses were approximately $4.5M for the nine months ended September 30, 2024, compared to approximately $6.4M for the comparable 2023 period. Income from operations was approximately $0.6M for the nine months ended September 30, 2024, compared to approximately $0.5M for the comparable 2023 period. Net income was approximately $0.6M for the nine months ended September 30, 2024, compared to approximately $0.4M for the comparable 2023 period. Pro Forma Combined Financial Highlights for Fiscal Year 2023: Pro forma combined total net revenues were approximately $9M for the fiscal year ended December 31, 2023. Pro forma combined cost of revenues was approximately $0.04M for the fiscal year ended December 31, 2023. Pro forma combined gross profit was approximately $9M for the fiscal year ended December 31, 2023. Pro forma combined total operating expense was approximately $10.9M for the fiscal year ended December 31, 2023. Pro forma combined net loss from operations was approximately $1.9M for the fiscal year ended December 31, 2023. Pro forma combined net loss was approximately $3M for the fiscal year ended December 31, 2023. Pro Forma Combined Financial Highlights for the Nine Months Ended September 30, 2024: Pro forma combined total net revenues were approximately $5.6M for the nine months ended September 30, 2024. Pro forma combined cost of revenues was approximately $0.2M for the nine months ended September 30, 2024. Pro forma combined gross profit was approximately $5.5M for the nine months ended September 30, 2024. Pro forma combined total operating expense was approximately $9.4M for the nine months ended September 30, 2024. Pro forma combined net loss from operations was approximately $3.9M for the nine months ended September 30, 2024. Pro forma combined net loss was approximately $4.8M for the nine months ended September 30, 2024.