Cision PR Newswire
Signing Day Sports, Inc. Focuses on Growth and Partnerships; Commences Investigation Into Stock Price Decline
News provided bySigning Day Sports
Nov 21, 2023, 9:03 AM ET
SCOTTSDALE, Ariz., Nov. 21, 2023 /PRNewswire/ -- Signing Day Sports, Inc. (NYSE American: SGN) (the "Company" or "Signing Day Sports"), developer of the Signing Day Sports app, which includes an innovative technology platform service for high school athletes in the college recruitment process, remains committed to executing on its business development growth plans to advance the Company's mission of educating and recruiting athletes in a multitude of different sports.
The Company's app currently covers football, soccer, baseball, and softball, but is designed to quickly adapt to additional sports and partner needs, and the Company intends to use the net proceeds of its initial public offering (IPO) for, among other things, direct digital marketing to help support student-athlete awareness and the onboarding of new student-athlete profiles. This focus on digital marketing is expected to develop new revenue streams within each individual student-athlete profile and foster increased user revenue.
The Company will also continue to utilize a variety of communication platforms to promote student-athlete education on personal development, recruitment process and name, image and likeness (NIL) opportunities. The continued growth of NIL in college athletics has created an opportunity for Signing Day Sports to develop an educational platform that includes forums for the promotion of the student-athlete and their development.
The Company has maintained overwhelming support from its legacy stockholders, many of whom participated in the IPO. A strength of Signing Day Sports has always been one of perseverance and enduring relationships. These relationships include relationships with its stockholders, strategic partners and the student-athletes that use the Company's app and their families. The Company's mission involves the advancement of education for the student-athlete and their development with a focus on helping student-athletes pursue opportunities that can help them play at their highest level both on and off the field. The Company's stockholders support Signing Day Sports' mission and trust the commitment the entire team at Signing Day Sports has in building upon this mission.
The Company fully understands the necessity to maintain investor confidence and put the interests of its stockholders first. The Company is not aware of any fundamental business reason for the precipitous decline in its stock since the commencement of trading on the NYSE American exchange, and the Company believes that such decline may be the result of illegal short selling in its stock. The Company has commenced an investigation into the trading of its stock and will take appropriate legal action based on its findings.
The further development of Signing Day Sports as the premier recruiting technology platform occurs daily. The Company looks forward to establishing itself as the leading recruiting platform for student-athletes around the world and. the Signing Day Sports team has a clear vision and commitment to execute its business development plans at a high level. As the Company consistently preaches, victory is achieved through great people, great plan and great execution.
About Signing Day Sports:
Signing Day Sports' app allows student-athletes to build their Signing Day Sports recruitment profile, which includes information college coaches need to evaluate and verify them through video technology. The Signing Day Sports app includes a platform to upload a comprehensive data set including video-verified measurables (such as height, weight, 40-yard dash, wingspan, and hand size), academic information (such as official transcripts and SAT/ACT scores), and technical skill videos (such as game day as well as training videos).
This press release contains "forward-looking statements" that are subject to substantial risks and uncertainties. All statements, other than statements of historical fact, contained in this press release are forward-looking statements. Forward-looking statements contained in this press release may be identified by the use of words such as "may," "could," "will," "should," "would," "expect," "plan," "intend," "anticipate," "believe," "estimate," "predict," "potential," "project" or "continue" or the negative of these terms or other comparable terminology. These statements are only predictions. You should not place undue reliance on forward-looking statements because they involve known and unknown risks, uncertainties and other factors, including without limitation, the Company's ability to obtain additional funding to develop additional services and offerings, market acceptance of the Company's offerings, competition from existing online offerings or new offerings that may emerge, impacts from strategic changes to our business on our net sales, revenues, income from continuing operations, or other results of operations, the Company's ability to attract new users and customers, increase the rate of subscription renewals and slow the rate of user attrition, the Company's ability and third parties' abilities to protect intellectual property rights, the Company's ability to adequately support future growth, the Company's ability to comply with user data privacy laws and other current or anticipated legal requirements, the Company's ability to attract and retain key personnel to manage its business effectively, and other risks and uncertainties that will be described more fully in the section titled "Risk Factors" in the registration statements and reports filed by the Company with the U.S. Securities and Exchange Commission. These risks and uncertainties are, in some cases, beyond our control and could materially affect results. If one or more of these risks or uncertainties occur, or if our underlying assumptions prove to be incorrect, actual events or results may vary significantly from those implied or projected by the forward-looking statements. No forward-looking statement is a guarantee of future performance. Forward-looking statements contained in this announcement are made as of this date, and the Company undertakes no duty to update such information except as required under applicable law.
View original content to download multimedia:https://www.prnewswire.com/news-releases/signing-day-sports-inc-focuses-on-growth-and-partnerships-commences-investigation-into-stock-price-decline-301994853.html
SOURCE Signing Day Sports
NOTE: This content is not written by or endorsed by "WTEN", its advertisers, or Nexstar Media Inc.