DCS Announces Resignations to Accelerate Transition to SaaS Business Model
- None.
- Resignation of key personnel may lead to temporary instability or uncertainty within the company.
- Transitioning to a SaaS model may require significant investment and restructuring, impacting short-term financial performance.
San Diego, California--(Newsfile Corp. - March 5, 2024) - Direct Communication Solutions, Inc. (OTCQX: DCSX) (CSE: DCSI) (FSE: 7QU0) ("DCS" or the "Company") announces today that Mr. Mike Zhou and Mr. Mike Ueland have tendered their resignations as Director of the Company, effective immediately, to pursue other business interests.
The Board of Directors wishes to thank both Mr. Zhou and Mr. Ueland for their valuable contributions to the Company as directors and wish them both the best in their future endeavours.
The Company will announce the appointment of a new director in the near future to fill the vacancies left by the resignations.
Additionally, Mike Lawless EVP of Sales and an officer of the Company submitted his resignation effective March 22, 2024, for personal reasons. Mike is leaving the company on good terms with all matters relating to the Company's operations, policies, or practices. The Board of Directors thanks him for his many years of service and contributions to the Company and wish him the best in his future endeavors.
"As the IoT industry continues to evolve, it is critical that DCS adapts and grows with the market. These changes will allow DCS to focus on our strategy of transitioning to a SaaS (Software-as-a-Service) focused company," said Chris Bursey, CEO of DCS. "Focusing on SaaS will position us for success with high margin solutions that will create share holder value. These changes will allow us to re-invest our resources to SaaS solutions instead of lower-margin, one time hardware sales that require a significant investment in sourcing and supporting."
About DCS
DCS is a technology solutions integrator focusing on connecting the Internet of Things. We provide real solutions that solve real problems. Our software applications and scalable cloud services collect and assess business-critical data from all types of assets. DCS is headquartered in San Diego, California and is publicly traded on the OTCQX ("DCSX"), Canadian Securities Exchange ("DCSI") and Frankfurt Stock Exchange ("7QU"). For more information, visit www.dcsbusiness.com. DCS and the DCS logo are among the trademarks of DCS in the United States. Any other trademarks or trade names mentioned are the property of their respective owners.
Contacts:
Chris Bursey, CEO - DCS
cbursey@dcsbusiness.com
858-525-2483
Julie Hajduk, CEO - Purple Crown Media
julie@purplecrown.ca
778-240-7077
Forward-Looking Statements
This release contains forward-looking statements, which reflect management's current views of future events and operations. These statements are based on current expectations and assumptions that are subject to risks and uncertainties that could cause actual results to differ materially. We believe that these potential risks and uncertainties include, without limitation: the ongoing COVID-19 pandemic, the Company's dependence on third-party manufacturers, suppliers, technologies and infrastructure; risks related to intellectual property; industry risks including competition, online security, government regulation and global economic conditions; and the Company's financial position and need for additional funding, Statements in this release should be evaluated in light of these factors. These risk factors and other important factors that could affect our business and financial results are discussed in our Management's Discussion and Analysis, periodic reports and other public filings which are available on SEDAR at www.sedar.com and posted with the OTC Disclosure and News Service. DCS undertakes no duty to update or revise any forward-looking statements.
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/200413
FAQ
Why did Mr. Mike Zhou and Mr. Mike Ueland resign from Direct Communication Solutions, Inc. (DCSX)?
Who is the new director to be appointed by Direct Communication Solutions, Inc. (DCSX) to fill the vacancies left by the resignations?
Why did Mike Lawless EVP of Sales resign from Direct Communication Solutions, Inc. (DCSX)?
What is Direct Communication Solutions, Inc.'s (DCSX) strategy in light of these resignations?
How does Direct Communication Solutions, Inc. (DCSX) plan to create shareholder value with the transition to a SaaS model?
