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DSG Global is an emerging global technology company with a diverse portfolio of businesses in rapidly growing market sectors. Specializing in fleet management in the golf industry, the company offers patented analytics, mobile touch screen engagement, and electric golf carts under the Vantage Tag Systems (VTS) brand. DSG Global is also introducing road-ready electric vehicles for sale in the first quarter of 2021, showcasing its commitment to innovation and sustainability.
DSG Global, Inc. (OTCQB: DSGT) reported significant growth in its Q3 2022 financial results. Revenue soared by 186%, reaching $1,425,673 compared to $498,380 in Q3 2021. Gross profit also improved by 74% to $472,832, although gross profit margins decreased to 33.17% from 54.56% in Q2 2021. However, the company posted a net loss of $2,370,834, increasing from $1,948,678 a year earlier. As of September 30, 2022, DSGT had signed contracts worth over $4.2 million, with revenue recognition impacted by manufacturing delays.
DSG Global, Inc. (OTCQB: DSGT) announces the immediate availability of Shelby 4 & 6 seat golf carts in North America. The company acquired worldwide marketing rights to this high-performance cart line earlier in 2022. The Shelby carts feature advanced specifications, including a 6.3kw AC Motor and Bluetooth touchscreen. The company expects strong demand due to the growing popularity of low-speed electric vehicles in golf and residential communities. The global golf cart market is projected to rise from $1.69 billion in 2021 to $2.55 billion by 2028, with a 6.0% CAGR.
DSG Global (OTCQB: DSGT) has appointed Alan M. Wagner as CEO of its subsidiary, Liteborne Motor Corporation (formerly Imperium Motor Co.). Wagner's experience in the automotive industry is expected to enhance Liteborne's distribution of Skywell Automotive Group's electric vehicles in North America. The company is optimistic about the homologation process and the establishment of a dealer network. Liteborne aims to capitalize on the favorable economic and legislative environment for electric vehicles, meeting with Skywell executives in China to support product development and marketing strategies.
DSG Global, Inc. (OTCQB: DSGT) has announced a name change for its Imperium Electric Vehicle brand to Liteborne™ Motor Corporation. This rebranding aims to establish a distinct identity for both the electric vehicle branch and the parent company, enhancing marketing efforts and shareholder value. Shareholders will benefit from ongoing dividends from DSG Global and shares in the new public entity. Liteborne's CEO, Bob Silzer, highlighted plans to communicate the brand's commitment to 'accessible luxury' with its electric vehicles, including the Aurium™ SEV.
DSG Global, Inc. (OTCQB: DSGT) has launched the VANTAGE PRO Lithium golf cart Advantage Challenge, inviting operators to compare its golf carts against incumbents without commitment. This program provides operators with two VANTAGE PRO Lithium carts for a week, facilitating a firsthand evaluation of their performance. The initiative is underway in states like Arizona and California, with a promotional offer including a GPS management system for leases of 30 or more carts. DSGT emphasizes the carts' long-range batteries and competitive lease terms, including no payments until 2023.
DSG Global (OTCQB: DSGT) introduces the VANTAGE PRO Lithium Fleet golf carts, now available for immediate delivery. These carts feature a top-tier 105ah rapid-charging battery, offering the longest range in the market, and come with a 7-year bumper-to-bumper warranty. The VANTAGE PRO includes advanced fleet management features such as Geo Fencing and pace alerts. In a promotional deal, leasing 30+ carts this year includes a complimentary GPS Tag Turf system. The company reports record sales of its fleet management systems and is ramping up production to meet the high demand.
DSG Global (OTCQB: DSGT) has retained ICON Capital Group as financial advisor for a possible spinout of its subsidiary, Imperium Motor Corp. The spinout may involve an IPO, a merger with a NASDAQ entity, or a SPAC merger. DSGT plans to maintain minority ownership and distribute shares to current shareholders, allowing them to benefit from the new entity. With a growing electric vehicle market and support from the recent Inflation Reduction Act, management believes this move will enhance shareholder value and allow the company to focus on its core GPS and Golf Cart operations.
DSG Global, Inc. (OTCQB: DSGT) announced its Q2 2022 earnings, revealing a revenue increase to $1,174,878, up 137% year-over-year, driven by the installation of the Infinity system and Vantage Pro fleet golf cart deliveries. The company reported $2.75 million in signed orders and a backlog exceeding $14 million. However, losses rose to $1,987,471, a 83% increase from the previous year, primarily due to compensation and finance costs. Despite challenges, CEO Robert Silzer expressed optimism about future sales and non-dilutive funding secured to fulfill product orders.
DSG Global, Inc. (OTCQB: DSGT) reported its Q2 2022 earnings, showing a revenue increase to $1.17 million, up 137% year-over-year. The company holds $2.75 million in signed orders and boasts a robust sales pipeline valued over $14 million, primarily from golf carts. Despite revenue growth, the net loss rose to $1.99 million, attributed to increased operational costs. The company received over 2,200 refundable deposits for its SEV electric vehicle, representing potential revenue of approximately $88 million. CEO Robert Silzer emphasizes a strong sales uptrend and secured funding for future growth.
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