Dss Inc Stock Price, News & Analysis

Document Security Systems (DSS) reported Q2 2020 financial results, showing a revenue of $3.1 million, down 10% from $3.5 million in Q2 2019 due to COVID-19 impacts. The net loss narrowed to $672,000, or $0.19 per share, compared to a loss of $732,000 in the previous year. DSS strengthened its balance sheet with $16.1 million raised in offerings. A significant contract worth over $24 million was signed by DSS's Premier Packaging subsidiary. DSS also advanced its acquisition of Impact BioMedical, focusing on diversification and shareholder value.

Document Security Systems (NYSE American: DSS) has successfully completed a public offering of 453,333 shares at $7.50 each, raising gross proceeds of $3.4 million. The funds will support growth in new business lines, acquisition opportunities, and general corporate expenses. Additionally, the underwriter has a 45-day option to purchase 38,533 more shares. This offering was conducted under an effective shelf registration statement with the SEC, aiming to enhance DSS's business operations in brand protection technology and blockchain security.

Document Security Systems (NYSE American: DSS) announced the pricing of a public offering of 453,333 shares at $7.50 per share, aiming for gross proceeds of $3.4 million. The funds will support the growth of new business lines, acquisition opportunities, and general corporate needs. An additional 38,533 shares may be purchased by the underwriter to cover over-allotments. The offering is set to close on July 31, 2020, pending customary conditions. Aegis Capital Corp. is the sole book-running manager for this offering.

Document Security Systems (DSS) announces the launch of its AuthentiGuard as a Service (AGaaS) app, now available on The App Store. This innovative solution targets counterfeit issues faced by brands, enabling manufacturers to authenticate products and engage consumers efficiently. AGaaS offers real-time tracking to ensure product authenticity, coupled with augmented reality marketing features. DSS will host a webinar on July 22, 2020, to showcase AGaaS and invite brand participation. This move enhances DSS's position in brand protection and consumer engagement, reinforcing its market strategy.

Document Security Systems (DSS) announced an update on its acquisition of Impact BioMedical, initially disclosed on April 27, 2020. Shareholders of DSS are set to vote on August 10, 2020, with shareholder approval being the last requirement for completion. The acquisition aligns with DSS’s strategy to distribute Impact shares post-IPO, where shareholders could receive four Bonus shares for each DSS share held. Although intended, DSS cannot guarantee public listing of Impact BioMedical or the Bonus share distribution, as these depend on future conditions.

Document Security Systems, Inc. (DSS) has announced a three-year, $6 million annual contract with a major retailer through its subsidiary, Premier Packaging Corp. The contract covers the supply of photo mailing envelopes and cartons and may extend to a fourth year, potentially totaling over $24 million. This deal underlines Premier's growth potential and effectiveness, fueled by recent investments in manufacturing and quality improvements. Production is set to start in Q3 2020, with the retailer planning to open 550 new stores, which could further enhance contract value.

Document Security Systems (DSS) announced the full exercise of an over-allotment option by the underwriter for its public offering, resulting in an additional 154,320 common shares sold at $6.25 each. The total gross proceeds from this offering will now amount to approximately $7.39 million. DSS plans to utilize the net proceeds for funding the development of new business lines, acquisitions, corporate needs, and working capital. Aegis Capital Corp. acted as the sole bookrunner for this offering.

On July 10, 2020, Document Security Systems (DSS) announced that Crecom Burj Group (CBG), a Malaysian PPE exporter, has adopted its AuthentiGuard as a Service (AGaaS) anti-counterfeiting technology. AGaaS helps verify product authenticity through a multi-layered marking system. This collaboration aims to ensure the integrity of CBG's AAMI-certified isolation gowns and gloves for the US healthcare market. Counterfeiting in global trade is rising, estimated at 3.3%, with losses projected to exceed $1.8 trillion by 2020. This partnership allows rapid implementation of integrity solutions across various industries.

Document Security Systems (DSS) has announced promising in-vitro testing results from its acquisition target, Impact Biomedical, focusing on COVID-19 treatments. The proprietary compounds, Equivir and Linebacker, showed effectiveness in blocking SARS-CoV-2 infection, while 3F Biofragrance functioned as a potent disinfectant. Impact Biomedical's antiviral suite has been valued at $933 million, exceeding previous estimates. The acquisition, set for $50 million in stock, positions DSS to leverage advanced biomedical technologies amid the ongoing pandemic.