Dear Cashmere Holding Company, operating as Swifty Global and trading under the symbol DRCR on the OTC market, has announced a significant corporate restructuring. The technology company, which develops software for regulated online gaming markets, plans to separate its core technology business into a new entity to pursue an initial public offering on a major stock exchange as early as 2026.
The decision, approved by the company's Board of Directors, is driven by the evolution of DRCR's technology division into a mature, scalable global platform. According to the company, its current public structure no longer optimally aligns with the requirements for a modern technology IPO. The restructuring aims to create a cleaner, more efficient path to a public listing while allowing both the new technology company and the remaining DRCR entity to pursue independent growth strategies best suited to their markets.
James Gibbons, CEO of DRCR, commented that this move is designed to maximize shareholder value. "DRCR shareholders will have the opportunity to participate in the future technology IPO while continuing to benefit from DRCR's public-company strategy," Gibbons stated. The new company will focus on licensing proprietary sportsbook, casino, compliance, and risk-management software to regulated operators globally under a Software-as-a-Service (SaaS) model, supporting expansion across Europe, Africa, and other regulated markets. More information about the company is available on its official website at https://www.swiftyglobal.com.
Operationally, the spin-off is scheduled for completion at the close of business on December 7. The new entity will initially be privately held. Shareholders of record as of December 31 who hold at least 2,000 DRCR shares will receive an equity interest in the new company while retaining their existing DRCR shares, which will continue to trade normally. A shareholder information portal will be launched in January to provide details and allow registration for participation in the future IPO process. The company's stock profile can be viewed on https://www.otcmarkets.com/stock/DRCR/profile.
This strategic shift reflects a broader industry context where compliance has become hyper-critical due to new regulatory frameworks and tax policies across Europe. DRCR's technology is positioned as mission-critical for participants in the global online gaming sector, supporting compliance, scalability, and performance. The company believes that establishing a purpose-built public company for the technology division allows for a simpler SEC registration process, especially since the business generates substantially all of its revenues outside the United States.
Leadership changes accompany the restructuring. A highly experienced industry executive has been appointed as CEO of the new IPO vehicle and will be formally announced later. James Gibbons will transition to the role of Chief Technology Officer for the new entity. Meanwhile, DRCR will continue to operate as a publicly traded company under the leadership of Gibbons and Chairman Nicolas Link. DRCR has identified a strategic acquisition expected to complete in early 2026, intended to form the foundation of its next growth phase.
Nicolas Link emphasized the strategic rationale, stating the structure creates optimal alignment between founders, shareholders, and future investors. The Board expects to appoint an investment bank to lead the IPO process in January and will provide further updates to shareholders early in the new year. The founders have noted they have taken minimal compensation to date and have no current intention to sell stock, though they have completed standard regulatory filings in connection with the planned IPO.
