Giftify (GIFT) Registration filing summary

Company overview and business model

• Operates Restaurant.com, a leading digital deals platform for restaurants, and CardCash, a major gift card exchange acquired in December 2023.

• CardCash buys and resells gift cards from over 1,100 retailers, offering both B2C and B2B services, including white-label and incentive solutions.

• Restaurant.com provides discounted certificates and dining passes to consumers and businesses, leveraging a database of 6.2 million customers.

• CardCash focuses on innovation, fraud prevention, and branded exchange partnerships with major retailers like Amazon and CVS.

• The company emphasizes technology, marketing, and customer service to drive growth and maintain competitive advantages.

Financial performance and metrics

• CardCash acquisition valued at $26.7 million, paid via stock, cash, and notes.

• Restaurant.com B2C division accounted for 45% and B2B for 55% of gross revenue in FY 2023.

• CardCash reported a 13.3% gross margin across four revenue streams, aiming for 19% in 2024.

• CardCash spent $807,031 on marketing in 2023, representing 0.9% of gross revenues.

• Audit report includes a going concern explanatory paragraph.

Use of proceeds and capital allocation

• Net proceeds will fund marketing, product development, general administration, debt retirement, and other corporate purposes.

• No plans to pay dividends; earnings will be retained for business development and expansion.