DSG Global Continued Acceleration of Sales with Significant Orders on DSG Shelby Golf Carts and Vantage Tag Systems

Rhea-AI Summary

DSG Global, Inc. (OTCQB: DSGT) reported significant progress in its Shelby Golf cart sales, surpassing $1,000,000 within the first two months of production, exceeding expectations by over 50%. The company is moving to a new 100,000 sq. ft. facility in Milpitas, CA to accommodate increased demand, planning to introduce a selective dealer network. With strong international interest from countries including Vietnam and the UK, DSGT aims to expand its global reach. Additionally, sales of the Vantage Tag systems doubled in 2021, with expectations of continued growth in 2022.

Positive

• Achieved over $1,000,000 in Shelby Golf cart sales in the first 60 days.
• Sales exceeded budget by more than 50% in the first two months.
• Transitioning to a larger facility to support increased production.
• Strong international interest in products from multiple countries.
• Sales growth of Vantage Tag systems increased by over 100% in 2021.

Negative

• None.

SURREY, British Columbia, March 30, 2022 (GLOBE NEWSWIRE) -- DSG Global, Inc. (OTCQB: DSGT) (“DSGT” or the “Company”), an emerging leader in the Electric Vehicle and Golf Car markets, is pleased to announce the ongoing sales of Shelby Golf cart for which it holds global distribution rights achieved confirmed sales more than $1,000,000 in the first sixty days of production.

“DSG Shelby lithium golf cart sales have exceeded budget in the first 2 months by more than 50%. We have struggled to handle enquires and keep up with demand and now have moved to our new 100,000 sq ft facility at Milpitas CA where we are preparing to run two assembly lines. Our business plan is to roll out a limited number of dealers and distributors under our AC Golf Carts brand. International interest from offshore dealers from as far away as the Caribbean, Viet Nam, Singapore, India, the UK and Spain have prompted us to bring forward a global distribution plan with the appointment of an international business development manager, said Robert Silzer, CEO of DSG Global. 

“While sales in Vantage Tag grew more than 100% in 2021 with our Infinity system, we expect to exceed this revenue growth by a wide margin in 2022,” continued Robert Silzer, CEO of DSG Global.

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 last quarter of 2022 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 venues 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, Marshal single rider golf carts, Vantage and Shelby Golf Cart line up. The Shelby GT-350^®, Shelby GT-500^®, and the Shelby Cobra which is up to 96% more powerful than a standard electric cart can be viewed at http://acgolfcarts.com.

Additional information is available at http://vantage-tag.com/

CAUTIONARY NOTE REGARDING 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 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. 

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

FAQ

What were the sales figures for DSG Global's Shelby Golf cart?

DSG Global reported over $1,000,000 in Shelby Golf cart sales within the first 60 days of production.

How much did Shelby Golf cart sales exceed the budget?

Shelby Golf cart sales exceeded the budget by more than 50% in the first two months.

What new facility is DSG Global moving to?

DSG Global is moving to a new 100,000 sq. ft. facility in Milpitas, CA.

What is the outlook for Vantage Tag system sales in 2022?

DSG Global expects Vantage Tag system sales to exceed the revenue growth achieved in 2021.