DSG Global and Imperium Motor Recent Automotive Shows Generate $15 Million of Orders for Which Deposits were Received; 900 New Tag Systems Being Installed at Golf Courses in Q4

Rhea-AI Summary

DSG Global, Inc. (OTCQB: DSGT) announced that its electric vehicle division, Imperium Motor Company Canada, showcased the SEV at a recent Quebec event, garnering significant media attention. The enthusiastic response led to over 327 deposits, totaling approximately $15 million in retail sales. The company is also shipping various vehicle models, including the TradePro, with deliveries expected soon. Additionally, DSGT will install 900 New Tag Units, generating around $1.5 million in revenue. Anticipation builds for the LA Auto Show, expecting nearly 1 million attendees.

Positive

• Secured over 327 deposits for SEV totaling approximately $15 million.
• Commenced vehicle shipments, including the TradePro, with deliveries expected within four weeks.
• Anticipating installation of 900 New Tag Units, resulting in approximately $1.5 million in revenue.
• Expect significant exposure and potential sales boost from participation in the upcoming LA Auto Show.

Negative

• None.

Fairfield, California, Oct. 06, 2021 (GLOBE NEWSWIRE) -- DSG Global, Inc. (OTCQB: DSGT) ("DSGT" or the "Company") is pleased to announce that its Canadian electric vehicle division, Imperium Motor Company Canada, finished a successful Quebec Electric Vehicle this past weekend. The show resulted in significant exposure and media coverage. Quebec Journalists also experienced test drives of the SEV after the show with articles and TV reviews to follow. The incredibly enthusiastic consumer response to seeing and experiencing the SEV in person for the first time resulted in deposits on over 327 SEV’s during the Montreal and Quebec shows for retail sales of about $15 Million. Journalist and radio personality Benoit Charette said that the SEV stole the show.

https://www.ckoi.com/balados/334807/episode/425809/la-nouveaute-d-emperium-motors

The company also has begun shipping several vehicles, which include the utility and passenger vehicle, the TradePro. Several SEV vehicles, which include the Comfort and Premium models of the SEV, have completed production and are ready to be shipped. Arrival of the TradePro’s and the SEV’s are expected during the next 4 weeks.

The company also will be receiving and installing 900 New Tag Units during Q4, resulting in revenue of approximately $1.5 million. These units will be utilized to complete installations at many of the previously announced courses. During Q1 2022, the company anticipates fulfilling the large majority of its previously announced $10 Million backlog for the Tag Systems. Vantage Tag continues to receive interest and orders from additional courses on a regular basis.

“While the Quebec show consisted of just over 9,000 attendees as opposed to the nearly 26,000 in Montreal, our sales were still compelling. We are now beginning to produce and ship our vehicles on a regular basis in anticipation of the LA Auto Show where nearly 1,000,000 attendees are expected at the LA Auto Show. Not only is Los Angeles the largest car buying and electric vehicle buying market in the United States, this show also has global media, manufacturers, dealers and government officials in attendance,” stated Rick Curtis, CEO Imperium Motors.

About DSG Global

DSG Global is an emerging global technology company with an array of interconnecting businesses in some of the fastest-growing market sectors. With roots in the golf industry, in which it specializes in fleet management with patented analytics, mobile touch screen engagement and electric golf carts under the Vantage Tag Systems (VTS) brand, the Company is moving quickly with road-ready electric vehicles for sale in the first quarter of 2022 through its Imperium Motor Company subsidiary.

About Imperium Motor Corp.

Imperium Motor Corp. (IMC) is an EV sales, manufacturer and marketing company that offers a wide variety of affordable vehicles equipped for the North American market, with emphasis on great design, a green mindset, performance, and functionality. Vehicles will include high-speed, mid-speed and low-speed electric vehicles including cars, trucks, SUVs, vans, buses, and scooters.

For additional information about Imperium Motors’ product lines, please visit www.imperiummotorcompany.com.

About Vantage Tag Systems

Vantage Tag Systems (VTS) provides patented electronic tracking systems and fleet management solutions to golf courses and other avenues that allow for remote management of the course's fleet of golf carts, turf equipment and utility vehicles. Its clients use VTS' unique technology to significantly reduce operational costs, improve the efficiency plus profitability of their fleet operations, increase safety and enhance customer satisfaction. VTS has grown to become a leader in the category of fleet management in the golf industry, with their technology installed in vehicles worldwide. VTS is now branching into several new streams of revenue through programmatic advertising, licensing, and distribution, as well as expanding into commercial fleet management, PACER single rider golf carts and agricultural applications. Additional information is available at http://vantage-tag.com/.

Company Contact:

Brokers and Analysts:
Chesapeake Group
+1-410-825-3930
info@chesapeakegp.com

Safe Harbor for Forward-Looking Statements

This news release contains forward-looking information. Such forward-looking statements or information are provided for the purpose of providing information about management's current expectations and plans relating to the future. Readers are cautioned that reliance on such information may not be appropriate for other purposes. Any such forward-looking information may be identified by words such as "anticipated," "proposed," "expects," "intends," "may," "will" and similar expressions. Forward-looking information contained or referred to in this news release includes but is not limited to the Company's ability to secure manufacturing facilities and supply chains, the benefits the Company expects to derive from existing and planned products, and the Company's ability to achieve production and sales targets, generally.

Forward-looking statements or information are based on a number of factors and assumptions, which have been used to develop such statements and information, but which may prove to be incorrect. Although the Company believes that the expectations reflected in such forward-looking statements or information are reasonable, undue reliance should not be placed on forward-looking statements because the Company can give no assurance that such expectations will prove to be correct. Factors which could cause actual results to differ materially from those described in such forward-looking information include, but are not limited to: successful completion of due diligence, satisfaction of conditions, and completion of the proposed transaction with MTG, INC. negative cash flow and future financing requirements to sustain operations; dilution; limited history of operations and revenues and no history of earnings or dividends; competition; economic changes; delays in the Company's expansion plans; regulatory changes; and the impact of and risks associated with the ongoing COVID-19 pandemic, including the risk of disruption at the Company's facilities or in its supply and distribution channels. The forward-looking information in this news release reflects the current expectations, assumptions and/or beliefs of the Company based on information currently available to the Company.

Additional factors that could cause actual results to differ materially from those anticipated by our forward-looking statements are described under the captions "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" in our Annual Report on Form 10-K for the fiscal year 2020 and our subsequent Quarterly Reports on Form 10-Q and Current Reports on Form 8-K, all filed with the Securities and Exchange Commission. Forward-looking statements are made as of the date of this release, and we expressly disclaim any obligation or undertaking to update forward-looking statements. The forward-looking statements or information contained in this news release are expressly qualified by this cautionary statement.

FAQ

What were the sales results from the Quebec Electric Vehicle show for DSGT?

DSGT secured over 327 deposits for the SEV, amounting to approximately $15 million in retail sales.

When is DSGT expected to deliver its electric vehicles?

Deliveries for various vehicles, including the TradePro, are expected within the next four weeks.

How much revenue will DSGT generate from the installation of New Tag Units?

The installation of 900 New Tag Units is expected to generate around $1.5 million in revenue.

What is the significance of the upcoming LA Auto Show for DSGT?

The LA Auto Show is crucial for DSGT, expecting nearly 1 million attendees, which could boost visibility and sales.