DSG Global Announces $1.2 million in New Sales and Begins Final Preparations for Up-list to Nasdaq Stock Market and Concurrent Capital Raise to Fund Accelerated Growth

Rhea-AI Summary

DSG Global, Inc. (OTCQB: DSGT) reported approximately $1.2 million in sales across its electric vehicle (EV) and golf divisions during the first two weeks of April 2021. This included over $900,000 in e-bike sales and $255,000 from Vantage Tag sales to golf courses in Maryland, Wisconsin, and Ontario. The company plans to raise $15 million through an underwritten offering to support its upcoming application for up-listing to the Nasdaq. The e-bike market is expected to grow significantly, bolstering DSGT's growth prospects.

Positive

• Achieved approximately $1.2 million in sales within the first two weeks of April 2021.
• New sales included over $900,000 in e-bike orders, indicating strong consumer demand.
• Plans to raise $15 million through an underwritten offering to support growth and Nasdaq up-listing.

Negative

• None.

SURREY, British Columbia, April 22, 2021 (GLOBE NEWSWIRE) -- DSG Global, Inc. (OTCQB: DSGT) ("DSGT" or the "Company") is pleased to announce approximately $1.2 million in combined sales across its EV and golf divisions in the first two weeks of April 2021. New sales include three containers of Rumble and Rover e-bikes totaling more than $900,000 and a further $255,000 in Vantage Tag sales to golf courses in Maryland, Wisconsin, and Ontario.

“We are thrilled to report an extremely strong start to the second quarter, nearly surpassing our total first quarter revenue in just the first two weeks of the second quarter. While this is certainly an impressive start to the quarter, we believe revenue growth will dramatically accelerate as the sales pipelines for both our EV and golf businesses continue to expand,” commented Bob Silzer, CEO of DSGT. “The more than $900,000 in new e-bike orders in the first two weeks of the second quarter are a great indication of the pent-up consumer demand for this innovative transportation solution, and while we are excited about the long-term sales potential of our e-bike lines, I believe this will ultimately be dwarfed by other products in our expanding EV line-up, including our Skywell Bus and Terra Truck products.”

The global e-bike market size is estimated to grow to $70 billion by 2027 from its current size of $41.1 billion. An estimated 130 million e-bikes are expected to be sold over the next two years globally. The US imported approximately 600,000 e-bikes in 2020, according to the Light Electric Vehicle Association, and their analysts expect that number will grow substantially in 2021.

Imperium Motors plans to host a webinar on April 28 to introduce its e-bike models to the public as well as bike retailers across North America.

“As we continue to prepare for accelerated growth in the weeks and months ahead, we are moving full speed ahead on our application to up-list to the Nasdaq Stock Market. Concurrently with our planned up-listing, we intend to raise USD $15 million through an underwritten offering to provide sufficient capital to rapidly execute on the multitude of growth opportunities available. Accordingly, in support of these plans, we filed a registration statement on Form S-1 and preliminary 14C with the US Securities and Exchange Commission today, setting in motion our up-listing application and capital raise,” continued Silzer. With the robust pipeline of opportunities in the works currently, I am confident the market will begin to value DSGT more appropriately, which ultimately rewards all of our shareholders.”

“While electric vehicles are growing in popularity worldwide, there are also two other trends that will impact consumer decisions. The first is price point, with affordable vehicles gaining in popularity, and the second is distance that can be traveled prior to needing to recharge. We are fortunate to not only have one of the most diversified range of vehicles available in the electric vehicle industry, but we are less expensive than most of our competitors,” added Rick Curtis, President of Imperium Motors. “We continue to invest in expanding our product line-up, ensuring that whether we are selling to an off-road enthusiast, a city commuter, or a discerning municipality, we likely have the ideal vehicle for their needs.”

“DSGT is stronger than ever, and we have a great opportunity to build on the growing momentum across all of our operating divisions, both in the immediate weeks ahead and longer-term as we maintain our leadership position in the golf industry and execute on our plans for building a market-leading EV business,” concluded Silzer.

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 2021 through its Imperium Motor Company subsidiary.

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's 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 over 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/

About Imperium Motor Company

Imperium Motor Company (IMC) is an EV sales 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.

Company Contact:

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

Dave Gentry
RedChip Companies, Inc.
Phone: (407) 491-4498
dave@redchip.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 up list to a national stock exchange, to complete an underwritten offering of USD $15 million, to expand sales pipelines and product offerings, to capitalize on market trends in the electric bike, electric vehicle, and golf markets, or to achieve or surpass 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, 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 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.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of any securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

FAQ

What were DSG Global's sales figures for April 2021?

DSG Global reported approximately $1.2 million in sales across its EV and golf divisions in the first two weeks of April 2021.

What products contributed to DSGT's sales in April 2021?

Sales included over $900,000 in e-bike orders and $255,000 in Vantage Tag sales to golf courses.

How is DSGT planning to raise capital for growth?

DSGT plans to raise $15 million through an underwritten offering to support its growth initiatives and application for up-listing to the Nasdaq.

What is the expected growth of the e-bike market?

The global e-bike market size is estimated to grow to $70 billion by 2027 from its current size of $41.1 billion.

What does DSGT expect for its future sales growth?

DSGT expects revenue growth to dramatically accelerate as the sales pipelines for both its EV and golf businesses continue to expand.