Signing Day Sports, Inc. (“Signing Day Sports” or the
“Company”) (NYSE American:
SGN), the developer of the Signing Day Sports app and
platform to aid high school athletes in the recruitment process,
today provided the following letter to stockholders from the
Company’s Chairman and CEO, Daniel Nelson:
Dear Stockholders,
We are pleased to share with you a recap of the significant
milestones and exciting developments that Signing Day Sports
achieved in 2023, as well as our positive outlook for 2024.
First and foremost, the Company’s recent initial public offering
and commencement of trading on the NYSE American exchange marked a
pivotal moment in the Company’s evolution. The IPO enabled the
Company to secure $6.0 million in gross proceeds and approximately
$4.8 million in net proceeds, reflecting not just a financial
achievement but also affirming the market's trust in our vision and
strategic direction. Our commitment is firmly rooted in enhancing
and expanding our robust platform, which is dedicated to
facilitating the college recruitment process for high school
athletes. While we were significantly constrained by capital in
2023, we plan to strategically deploy the proceeds of the IPO to
significantly bolster the growth of the Signing Day Sports app and
believe we now have a solid balance sheet to execute on our
strategy.
A key element of this plan involves intensifying our direct
digital marketing efforts, aiming to broaden student-athlete
engagement and streamline the addition of new athlete profiles to
our app. This focus on digital marketing is expected to develop new
revenue streams within each student-athlete profile and foster
increased user revenue. Additionally, we recognize the
transformative potential of the name, image, and likeness (NIL)
opportunities for student-athletes in college athletics and, in
response, we are doubling down on our commitment to building an
educational platform that not only promotes student-athlete
development but also serves as a forum for their promotion.
Among our recent milestones, the collaboration with the U.S.
Army Bowl National Combine and high school all-star game stands
out, an event celebrated as America's Biggest Week in Football.
This December, we had the opportunity to demonstrate the
capabilities of the Signing Day Sports app at the global
headquarters of the Dallas Cowboys. The app played a crucial role
for athletes participating in the U.S. Army Bowl, serving as both a
marketing and branding tool in their recruitment journey. More than
one thousand athletes engaged in an NFL-style combine, initiating
their experience with comprehensive measurements taken through our
app. Post-combine, we ensured that all official combine activities
and the athletes' video-verified data were integrated and stored
within the app. This functionality enabled athletes to create and
send their video resumes to universities across the country, giving
them a significant advantage in the recruitment process. Moreover,
our platform provided a unique space for these athletes to announce
their college commitments, underlining the Signing Day Sports app’s
innovative athlete recruitment capabilities.
Furthermore, our recently-announced appointment of Kevin Grogan
as Senior Soccer Advisor, marks a significant event for Signing Day
Sports in the realm of soccer recruitment. Kevin's distinguished
background as a former professional soccer player, a seasoned
coach, and a knowledgeable sports business consultant adds
considerable depth and expertise to our team. His combination of
direct on-field experience and sharp business acumen, coupled with
his thorough understanding of soccer's athletic and business
dimensions, positions him to lead the enhancement of our platform's
impact on the sport. We believe this represents a clear
demonstration of our commitment to achieving excellence in
collegiate sports recruitment, and are confident that Kevin’s
insights will bolster our ability to provide unparalleled
recruitment services and support to young athletes. This commitment
aligns with our goal to capitalize on the global appeal of soccer,
creating new opportunities for emerging talent and establishing our
position as a leader in the college recruitment sector.
As we look ahead to 2024, we could not be more excited about the
outlook for the business. In particular, we look forward to
leveraging key strategic alliances to rapidly scale the business.
As an example, we are collaborating with Elite Development Program
(EDP Soccer), a premier youth soccer organization providing us
access to more than 150,000 athletes from more than 1,050
clubs playing on more than 7,700 league teams and more than 5,500
tournament teams. As recently announced, on January 1, 2024, we
commenced our collaboration with EDP Soccer on the joint marketing
and promotion of EDP Soccer events and the Signing Day Sports
platform, led by Kevin Grogan. Not only does this collaboration
provide us a solid foothold within soccer, but it illustrates the
adaptability of our app to new sports, as well as the scalability
of our business model. We look forward to announcing further
developments regarding our collaboration with EDP in the near
future.
Also as recently announced, we are implementing new artificial
intelligence (AI) initiatives that we expect to roll out over the
next several months. These initiatives are designed to accelerate
customer acquisition, onboarding, and retention, while providing an
enhanced experience for both athletes and coaches. For athletes,
the technology is designed to allow us to streamline the
application process, verify user metrics, and better place
student-athletes. For coaches, AI is expected to allow us to
aggregate and analyze massive data sets in order to evaluate player
skills more efficiently and effectively.
Overall, we believe that the Signing Day Sports app is
positioned well to address major inefficiencies in the collegiate
athletic recruitment process. By addressing key challenges within
the industry, our product serves a vast market with a compelling
need for access to college-athlete recruitment services. The app’s
subscription-based model allows a stream of recurring revenue,
backed by a low customer acquisition cost based on our history of
optimized marketing strategies. We believe we have a highly
scalable business model, well suited for rapid adaptation across
various sports. Combined with a solid financial foundation, we are
confident that the future is bright for Signing Day Sports. As we
look to the future, the Signing Day Sports app stands not merely as
a participant but as a leader in the future of recruiting. Our
stockholders can take pride in being part of a company that is set
to redefine the standards of athletic recruitment.
Thank you for your trust and support as we continue this
exciting journey together.
Daniel NelsonChairman & CEO
About Signing Day SportsSigning Day Sports'
mission is to help student-athletes achieve their goal of playing
college 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 drills and mechanics that exemplify player mechanics,
coordination, and development). For more information on
Signing Day Sports, go to
https://ir.signingdaysports.com/overview/default.aspx.
Forward-Looking StatementsThis 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 manage and use its financial resources
effectively, the Company's ability to obtain additional funding to
develop additional services and offerings, the Company’s ability to
produce and deliver effective digital marketing and use other
strategies to attract new users and customers at minimal expense,
increase the rate of subscription renewals and slow the rate of
user attrition, the Company's ability to attract and retain key
personnel, including celebrity football professionals and
consultants such as Kevin Grogan, the ability of the Company and
other organizations to collaborate effectively, the Company’s
ability to implement AI initiatives into its platform effectively,
the Company's ability to adequately scale its platform and support
future growth, the Company's ability and third parties' abilities
to protect intellectual property rights, the Company's ability to
comply with user data privacy laws and other current or anticipated
legal requirements, 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, and the Company's ability to manage its
business effectively. 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.
Investor Contacts:Crescendo Communications,
LLC212-671-1020SGN@crescendo-ir.com
- Signing Day Sports Recruitment App
Signing Day Sports (AMEX:SGN)
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