DSS, Inc. reports developments across a diversified operating platform that includes Product Packaging, Biotechnology, Commercial Lending, and Securities & Investment Management. Company updates commonly address packaging operations, financial results, balance-sheet actions, common-stock offerings, and regulatory or audit disclosures.
News also covers subsidiary activity such as Sentinel Brokers Company, Inc., a FINRA-registered broker-dealer with fixed income trading, equity market-making, and approval to act as an underwriter and selling group member for corporate securities offerings.
DSS acquires 24.9% of Sentinel Brokers Company, Inc. as part of its strategic expansion in the financial services sector. The agreement includes an option to buy an additional 50.1%, aimed at enhancing the ecosystem around DSS Securities. Established in 1996, Sentinel, a FINRA-registered broker-dealer, specializes in institutional trading of bonds and preferred stocks. DSS aims to leverage this acquisition to accelerate its digital securities business and capitalize on growth opportunities in the industry.
Document Security Systems (DSS) has launched a new subsidiary, DSS PureAir, focusing on air purification technology. Recent studies from the University of Florida show that products from Puradigm, a company DSS invested in, can effectively neutralize SARS-CoV-2 on surfaces, with a 97.7% decrease in viral infectivity after four hours. The air purifier market, valued at $10.7 billion in 2020, is projected to grow by 10% annually until 2028. DSS PureAir aims to capitalize on this growth with advanced purification solutions.
Document Security Systems (DSS) announced that Proof Authentication Corporation has acquired 100% of DSS Digital, Inc., enhancing shareholder value by focusing on higher-return opportunities. The agreement allows DSS to license its anti-counterfeit technology to key customers while investing in growth areas like healthcare and renewable energy. The deal includes upfront cash and potential earn-out payments based on revenue targets. CEO Frank D. Heuszel highlighted the shift towards innovative solutions, indicating a strategic move to revitalize DSS's operations and drive market value.
Document Security Systems (DSS) announced that its subsidiary, Premier Packaging Corporation, will relocate to a new 105,000 sq. ft. facility in Henrietta, NY, to accommodate rising customer demand. The move, expected by year-end 2021, is backed by up to $700,000 in state tax credits contingent on job creation. Premier aims to boost staffing by over 50% and enhance operational capacity through new investments. DSS's management emphasizes this transition as vital for Premier's growth and market leadership, aided by local government support.
DSS announced its subsidiary, DSS Biomedical, completed an equity investment in Vivacitas Oncology, a clinical-stage company specializing in difficult-to-treat cancers. This investment highlights DSS's commitment to addressing healthcare needs and provides Vivacitas with significant growth potential. Additionally, DSS Biomedical acquired Impact Oncology, whose principal assets include equity in Vivacitas. The agreements allow DSS to appoint two members to Vivacitas's board, further strengthening their partnership.
DSS has launched Alset Solar, Inc., a subsidiary aimed at developing utility-scale solar farms. This initiative targets underutilized and contaminated lands to generate clean energy, thereby addressing community concerns about land use. Melissa Sims, Director of Alset Solar, emphasizes the potential of solar energy to combat climate change and enhance energy access. Alset Solar will focus on key markets in the US sunbelt, working closely with communities to repurpose blighted lands. This move aligns with the increasing demand for renewable energy.
Document Security Systems (DSS) announced that its subsidiary Impact BioMedical received a notice of allowance from the USPTO for a patent regarding its Equivir compound, which targets Ebola and Rhinovirus. This complements a prior patent for influenza treatment. Equivir employs FDA GRAS polyphenols to inhibit viral infections and is considered a strategic defense against emerging epidemics. The company aims to further develop and partner opportunities for Equivir as it capitalizes on its expanding intellectual property portfolio, enhancing long-term value.
Document Security Systems (DSS) announced that its subsidiary, Impact BioMedical, received a notice of allowance from the USPTO for a patent on the Equivir compound, designed to mitigate the effects of Ebola and Rhinovirus. Equivir combines FDA GRAS eligible polyphenols, targeting viral infections through several mechanisms. CEO Frank D. Heuszel emphasized its extensive antiviral potential and possible partnerships. The compound has shown effectiveness against viral infections, including in-vitro studies for SARS COV2. This patent adds to DSS's intellectual property estate, enhancing its market position.
Document Security Systems (DSS) reported significant financial improvements for 2020, achieving a net income of $3.1 million, a turnaround from a $2.6 million loss in 2019. Revenue increased by 12% to $17.4 million, and stockholders’ equity surged by 522% to $76.5 million. The company highlighted its strategic initiatives, including an acquisition and partnerships in digital assets, which position it for sustainable growth in the coming years.
Document Security Systems (DSS) has increased its investment in Sharing Services Global Corporation (SHRG) through a $30 million convertible promissory note. This funding aims to enhance Sharing Services' sales growth and international expansion, particularly in Asian markets. DSS previously held a 37% stake in SHRG, which reported $98.4 million in revenue and $5.6 million in net income for the 12 months ending September 30, 2020. The investment is expected to propel Sharing Services towards significant sales increases and position it as a key player in the direct selling industry.