DSS, Inc. (“DSS” or the “Company”) (NYSE American: DSS), a
multinational company operating nine business divisions through
strategic acquisitions and development to build shareholder value
through periodic spinoffs, announced that the Company plans to
distribute to its stockholders common stock of Sharing Services
Global Corporation (“Sharing Services” or “SHRG”) that is
beneficially held by DSS, directly and through its subsidiary,
Decentralized Sharing Systems, Inc. (“DSSI”). Sharing Services is a
diversified direct marketing company that is currently listed on
the OTC (OTC: SHRG) and is in the process of up-listing to Nasdaq.
As a major shareholder in Sharing Services, DSS
is focused on identifying opportunities that will foster the
long-term growth of SHRG and provide long-term benefit to its
shareholders. DSS Inc., together with its subsidiary DSSI, plan to
distribute approximately 280 million shares, which represents over
$5 million at the current market value of Sharing Services’ common
stock beneficially held by DSS and DSSI in a distribution to
holders of DSS common stock, par value $0.02 per share (“DSS Common
Stock”) as of April 28, 2023 (the “Record Date”) (the
“Distribution”). Each share of DSS Common Stock outstanding as of
5:00 p.m., New York City time, held on the Record Date, will
entitle the holder thereof to receive two (2) SHRG common stock
shares.
Immediately prior to the Distribution, DSS,
together with its subsidiary DSSI, will beneficially hold 81.1% of
the issued and outstanding shares of SHRG Common Stock. Upon
completion of the Distribution, DSS and its subsidiary, DSSI, will
retain an ownership interest of approximately 7% in Sharing
Services Global Corporation.
Ramping up Revenue Growth in Sharing
Services
Sharing Services main points of business are
through the company’s two 100% owned subsidiaries, The Happy Co.
and Hapi Travel Destinations. The Happy Co. operates in the health
and wellness industry and markets its products primarily through an
independent sales force utilizing a direct sales business model
under the proprietary brand, “The Happy Co.” The subscription-based
travel services subsidiary, My Travel Ventures, offers deep
discounts for travel relating to airfare, cruises, hotels, resorts,
time shares and rental cars for destinations throughout the
world.
Recently, Sharing Services entered into a Master
Franchise Agreement (“MFA”) to acquire the exclusive franchise
rights in North America to the brand Hapi Café™ from Hapi Café,
Inc. Under the MFA, the Company, directly or through its
subsidiaries, will operate no less than five corporate-owned stores
and will offer licensing rights for others to operate. Each
corporate-owned, or licensed, Hapi Café location will provide
customers and Brand Partners seeking a healthier lifestyle access
to functional, healthy food and beverages, a pleasant workspace
with free Wi-Fi service, physical fitness, nutrition management,
personal workout video content, and My Travel Ventures™
services.
“Sharing Services is the first of several
planned dividends to DSS shareholders that will enable us to focus
on and continue to optimize other business in the DSS incubation
pipeline, while providing DSS shareholders with a separately traded
equity in Sharing Services," said Frank D. Heuszel, CEO of DSS,
Inc.
John “JT” Thatch, CEO of Sharing Services Global
Corporation, added, “We look forward to having DSS shareholders as
part of our shareholder base through the direct distribution of
SHRG shares. We also are excited to grow the relationship with DSS
and see great potential with them as we expand our distribution
network and global footprint to create additional revenue and
growth.”
About Sharing Services Global
Corporation
Sharing Services Global Corporation
(OTCQB:SHRG), is a publicly traded company dedicated to building
shareholder value by developing or acquiring businesses, products
and technologies in the direct selling industry and other
industries that augment the Company’s product and services
portfolio, business competencies, and geographic reach. Our primary
growth strategy is built on focused innovation and creativity
positioned to capture profitable market share of diverse business
models.
For more information on Sharing Services Global
Corporation visit https://www.shrginc.com/
About DSS, Inc.
DSS is a multinational company operating
businesses within nine divisions: Product Packaging, Biotechnology,
Direct Marketing, Commercial Lending, Securities and Investment
Management, Alternative Trading, Digital Transformation, Secure
Living, and Alternative Energy. DSS strategically acquires and
develops assets to enrich the value of its shareholders through
calculated IPO spinoffs and a parametric share distribution
strategy. Since 2019, under the guidance of new leadership, DSS has
built the necessary foundation for achievable growth through the
formation of a diversified portfolio of companies positioned to
drive profitability in multiple high growth sectors. These
companies offer innovative, flexible, and real-world solutions that
not only provide mutual benefits for businesses and their
customers, but also create sustainable value and opportunity for
transformation.
For more information on DSS visit
http://www.dssworld.com.
Safe Harbor Disclosure
This press release contains forward-looking
statements that are made pursuant to the safe harbor provisions
within the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended. Such forward-looking statements include, but are not
limited to, statements related to the Company's intended use of
proceeds and other statements that are not historical facts.
Forward-looking statements are based on management's current
expectations and are subject to risks and uncertainties that may
cause actual results or events to differ materially from those
projected. These risks and uncertainties, many of which are beyond
our control, include: risks relating to our growth strategy; our
ability to obtain, perform under and maintain financing and
strategic agreements and relationships; risks relating to the
results of development activities; our ability to attract,
integrate and retain key personnel; our need for substantial
additional funds; patent and intellectual property matters;
competition; as well as other risks described in our SEC filings,
including, without limitation, our reports on Forms 8-K, 10-K and
10-Q, all of which can be obtained on the SEC website at
www.sec.gov. Readers are cautioned not to place undue reliance on
the forward-looking statements, which speak only as of the date on
which they are made and reflect management's current estimates,
projections, expectations, and beliefs. We expressly disclaim any
obligation or undertaking to release publicly any updates or
revisions to any forward-looking statements contained herein to
reflect any change in our expectations or any changes in events,
conditions, or circumstances on which any such statement is based,
except as required by law.
Contact:
DSS Inc. Investor Relations
IR@dssworld.com
+1 (585) 565-2422
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