- Footnote added to Press Release
- The Change In Name And Symbol Will More Accurately Reflect The Company's Rapidly Growing Presence In Multiple Fintech Markets
- Company Operates In The Global Pawn Shop Market, is Expected To Expand At A CAGR Of 3.05% During The Forecast Period, Reaching USD 46.432 Billion By 20281
ATLANTA, GA / ACCESSWIRE / April 16, 2024 / Dinewise, Inc. (OTC PINK:DWIS) (referred to as "Dinewise", "we", "us", "our" or the "Company") a company that is a revolutionary evolution in the pawn shop and microlending industries that offers instant, worldwide access to pawn shops and their services; small business loans; direct lending to pawn shops and via TitlePawn, its proprietary app, it allows anyone with a free, clear auto title the ability to get cash online without having to visit a storefront, today announced that it has completely left the food delivery and service business that the company previously operated under the name of Dinewise, Inc. The Company has dramatically reimaged the Company in the past few years and now has various vehicles in expanding markets in the overall Fintech industry markets.
Dinewise, Inc changed its business model in 2019 by entering the Pawn space with an acquisition of PawnTrust. The Company will change its name to PawnTrust, Inc. and will also have an appropriate change in symbol.
[1]https://www.linkedin.com/pulse/latest-insights-pawn-shop-market-analysis-updates-2023-2030-rlt3c
The Company now operates in various but related markets: Pawn Shops, Title Pawn Microlending and Non-Fungible Tokens (NFT).
PawnTrust acts as an intermediary between the Pawn Shop and consumer using the best technology to streamline borrowing, buying and bartering transactions; TitlePal is a Web-based lender that allows anyone with a clear auto title the ability to get cash online in minutes without the embarrassment of having to go to a storefront. It grants loans where borrowers can use their vehicle title as collateral or as security for repayment;
In Microlending, PawnTrust will lend capital to small businesses. These loans will be based on the consumer's monthly revenues. Its virtual underwriting method can approve our clients and fund the same day; and
In NFT on the blockchain, the Company can put any product from any pawn shop nationwide as a Non-fungible token. This is designed to enable millions of views to buy immediately through crypto. This will turn PawnTrust into a pawn shop marketplace for people to buy and sell… worldwide.
Christina Moore, the Company's Director, said: " After a seemingly quiet last year, Dinewise still had record revenue with income in excess of $638,128 and net profit of $329,949[1], the Company is now very well positioned to create disturbances in some of the most lucrative Fintech markets including the Global Pawn Shop Market, which is expected to expand at a CAGR of 3.05% during the forecast period, projected to reach USD 46.432 Billion by 2028.1 We have been focused on building the infrastructure, apps, and essential collaborations so we can maximize our national and global markets. The Company is now in a better position to focus on building out our quickly emerging opportunities across all our markets."
The Company will issue additional announcements as the process proceeds.
About Dinewise/PawnTrust
Dinewise (OTC PINK:DWIS) through its company PawnTrust engages in small business loans to thriving entrepreneurs. PawnTrust has now added a marketplace exclusively for Pawn Shops to its business model. PawnTrust acts as an intermediary between the Pawn Shop and consumer using the best technology to streamline borrowing, buying and bartering transactions through an app on a mobile phone. PawnTrust has established Pawn Partners, which are local Pawn Shops, in which inventory is extrapolated into the PawnTrust Marketplace. This allows the Pawn Shops to immediately and seamlessly have their inventory displayed nationally. PawnTrust works like an amplifier. Many of these local stores do not have a web presence nor capital to market their inventory on a national basis. By leveraging the PawnTrust national marketplace the local store can create incremental sales from a wider range of buyers.
PawnTrust uses Artificial Intelligence (AI) in the marketplace platform to automate various workflows including advance image recognition algorithms. Items are automatically identified and descriptions are generated with remarkable accuracy which speeds up the process and standardizes the descriptions. This has the potential to transform the pawn industry where descriptive tags help to create a context based search for a user friendly interface. Using AI will bring an immersive and engaging experience.
TitlePal, is currently one of its subsidiary companies through an affiliate relationship. TitlePal is a complete online title pawn lender. Another first to market. TitlePal enhances the customer experience by allowing the loan to take place without the customer going to a store front. There are over 6000 storefront title pawn operations in the United States and TitlePal feels it can affect this market similarly to the way Netflix affected Video Store rentals i.e. Blockbuster. visit www.titlepal.com
PawnTrust is a publicly traded company on the OTC: Pink traded under the symbol DWIS.
For more information, please go to: www.pawntrust.com
FORWARD-LOOKING STATEMENTS:
This release includes statements that may constitute ''forward-looking'' statements, usually containing the words ''believe,'' ''estimate,'' ''project,'' ''expect'' or similar expressions. These statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. While the Company believes the expectations reflected in forward-looking statements are reasonable, there can be no assurances such expectations will prove to be accurate. Security holders are cautioned such forward-looking statements involve risks and uncertainties. Certain factors may cause results to differ materially from those anticipated by the forward-looking statements made in this release. Factors that would cause or contribute to such differences include, but are not limited to, acceptance of the Company's current and future products and services in the marketplace, the ability of the Company to develop effective new products and receive regulatory approvals of such products, competitive factors, dependence upon third-party vendors, risks and uncertainties related to the current unknown duration and severity of the COVID-19 pandemic and other risks detailed in the Company's periodic report filings with the Securities and Exchange Commission. By making these forward-looking statements, the Company undertakes no obligation to update these statements for revisions or changes after the date of this release.
1 https://www.otcmarkets.com/otcapi/company/financial-report/396280/content
CONTACT:
PawnTrust Investor Relations
(650) 228-0680
invest@pawntrust.com
SOURCE: Dinewise, Inc.
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