DIRECT COMM SOLUTIONS INC - DCSX STOCK NEWS

Direct Communication Solutions (DCS) has initiated legal actions in the US and Canada. In Ontario, DCS filed a lawsuit against AirIQ (TSXV: IQ), alleging breach of contract and confidence. In California, DCS is suing former senior executive Michael Lawless, now Chief Revenue Officer at AirIQ, for breach of fiduciary duty, contract, and conversion.

CEO Chris Bursey emphasized the importance of DCS's technical solutions to the company's growth and competitive advantage in the IoT industry. DCS has retained Lewis Kohn & Walker LLP for the California case and Cassels Brock & Blackwell LLP for the Ontario lawsuit.

Direct Communication Solutions (DCS) (OTCQX: DCSX) announced significant progress in its transition to a Software as a Service (SaaS) business model. The company restructured a $6.1M financial obligation, with $3M forgiven by a key supplier. The remaining $3.1M will be a 5-year term loan at 10% interest with no principal payments required. DCS is also in the process of raising at least $1M in capital. In Q1 2024, operational costs were reduced by 30%, contributing to the company's focus on higher-margin, long-term recurring revenue opportunities. The restructuring and cost reductions aim to return the company to profitability and align with its strategic transition to a SaaS model.

Direct Communication Solutions (OTCQX: DCSX) reported its Q1 2024 financial results, highlighting a strategic shift towards high-margin recurring SaaS revenue. Despite a 41% year-over-year revenue drop to $1.88M, recurring SaaS revenues grew 13%, and gross margins increased by 5.1%. The company reduced general and administrative expenses by $1.08M compared to Q1 2023. Q1 2024 gross profit was $657k, down 31% from $951k in Q1 2023. The net loss for Q1 2024 was $501k, a significant improvement from a $1.2M loss in Q1 2023. Adjusted EBITDA for Q1 2024 was ($481k), a 46% improvement from ($901k) in Q1 2023. New strategic agreements with System Loco and CATrack Technologies are expected to boost future SaaS revenues.

Direct Communication Solutions, Inc. (OTCQX: DCSX) announces its year-end financial results for 2023, highlighting operational efficiency, cost savings, recurring revenue growth, profitability, margin expansion, and SaaS sales channel expansion. The company achieved a milestone in growing its recurring revenue subscriber base, increased gross margins, and diversified its SaaS sales channels. Video telematics contributed significantly to revenue growth. Despite an EBITDA loss in 2023, CEO Chris Bursey remains optimistic about the company's performance and strategic direction for future growth.

Direct Communication Solutions, Inc. (DCSX) announces the resignation of key directors and an officer to pursue other business interests. The company aims to focus on transitioning to a Software-as-a-Service (SaaS) model for higher shareholder value and success.

Direct Communication Solutions, Inc. (DCSX) has entered into a strategic licensing and reseller agreement with System Loco Ltd to expand advanced IoT supply chain visibility and intelligence technology solutions to the North American market. The global supply chain market is projected to reach $45.2 billion by 2027, with a CAGR of 11%-12%. Inadequate supply chain visibility causes substantial losses for companies, including pharmaceutical and food and beverage companies, with challenges such as product damage, temperature excursions, delays, lost inventory, and compliance issues. DCS CEO emphasized the need for addressing inefficiencies and losses in the global supply chain, and the partnership with System Loco is expected to leverage DCS's extensive carrier network and expand System Loco's global market share in North America.

Direct Communication Solutions, Inc. (OTCQX: DCSX) (CSE: DCSI) (FSE: 7QU0), a leading provider of information technology solutions for the Internet of Things (IoT) market, announced the successful passage of resolutions at the 2023 Annual General Meeting of the Stockholders, reflecting continued shareholder support. The company's CEO, Chris Bursey, will provide updates on 2023 achievements and an outlook for 2024 on December 22, 2023. Additionally, Director David Diamond has resigned from the board.

Direct Communication Solutions, Inc. (OTCQX: DCSX) (CSE: DCSI) (FSE: 7QU0) is a leading provider of information technology solutions for the Internet of Things (IoT) market. The company has been recognized for its outstanding performance in growing its subscriber base in the telematics market in North America, ranking #7 in the region. Direct Communication Solutions will participate in the Wialon Global Telematics Conference in Vilnius, Lithuania, to showcase their expertise and contribute to the industry's future. CEO Chris Bursey expressed gratitude for the recognition and looks forward to the conference. The company also announced its upcoming Annual General Meeting on Monday, December 11, 2023, in San Diego, California.

Direct Communication Solutions, Inc. (OTCQX: DCSX) (CSE: DCSI) (FSE: 7QU0) announces posting of Interim Financial Statements for the nine months ended September 30, 2023, showing a 39% revenue decrease from 2022. Key partnerships and agreements with CATrak Technologies, Inc., Epson, Alsco Uniforms, VisionTrack, and Teltonika. Gross margin for 2023 was 32%, with negative EBITDA of $1.79 million (U.S.). CEO Chris Bursey emphasizes commitment to sustainability and strategic planning, deferring stock exchange listing update to the following year.