DSS, Inc. - DSS STOCK NEWS

Document Security Systems (DSS) announced that its subsidiary, Impact BioMedical, received a notice of allowance from the USPTO for a patent on the Equivir compound, designed to mitigate the effects of Ebola and Rhinovirus. Equivir combines FDA GRAS eligible polyphenols, targeting viral infections through several mechanisms. CEO Frank D. Heuszel emphasized its extensive antiviral potential and possible partnerships. The compound has shown effectiveness against viral infections, including in-vitro studies for SARS COV2. This patent adds to DSS's intellectual property estate, enhancing its market position.

Document Security Systems (DSS) reported significant financial improvements for 2020, achieving a net income of $3.1 million, a turnaround from a $2.6 million loss in 2019. Revenue increased by 12% to $17.4 million, and stockholders’ equity surged by 522% to $76.5 million. The company highlighted its strategic initiatives, including an acquisition and partnerships in digital assets, which position it for sustainable growth in the coming years.

Document Security Systems (DSS) has increased its investment in Sharing Services Global Corporation (SHRG) through a $30 million convertible promissory note. This funding aims to enhance Sharing Services' sales growth and international expansion, particularly in Asian markets. DSS previously held a 37% stake in SHRG, which reported $98.4 million in revenue and $5.6 million in net income for the 12 months ending September 30, 2020. The investment is expected to propel Sharing Services towards significant sales increases and position it as a key player in the direct selling industry.

Document Security Systems, Inc. (DSS) has expanded its DSS Securities division by acquiring a 7.5% stake in WestPark Capital, Inc. and 24.9% in BMI Capital International LLC. These strategic investments aim to enhance its digital securities exchange initiative in the U.S., leveraging WestPark's investment banking services and BMI's corporate finance expertise. DSS is positioning itself to tap into the growing $6.5 trillion private company market, which is expanding at double the rate of public markets.

Aegis Capital Corp. served as the Sole Bookrunner for Document Security Systems, Inc. (NYSE American: DSS) in a successful $39.7 million follow-on offering. This transaction reflects investor confidence in DSS, a company specializing in brand protection and blockchain security. DSS operates a unique model sharing equity from its subsidiaries through strategic IPOs. Established over 40 years ago, Chairman Fai Chan leads the company, having successfully restructured numerous corporations with a combined value surpassing $25 billion.

Document Security Systems (NYSE American: DSS) has successfully closed an upsized underwritten public offering, raising approximately $39.7 million in total gross proceeds. The company issued 14,167,247 shares at a price of $2.80 per share, with proceeds intended to support the development of new business lines, acquisition opportunities, and general corporate needs. Aegis Capital Corp. served as the sole bookrunner for the offering, which was conducted under a shelf registration statement effective since May 8, 2019.

Document Security Systems (DSS) announced a joint venture with Coinstreet Partners and GSX Group to establish a digital securities exchange utilizing proprietary blockchain technology. This initiative aims to secure a digital securities exchange license in the US, capitalizing on the growing demand for tokenized securities. CEO Frank Heuszel emphasized the venture's potential to accelerate DSS's digital asset business, highlighting the excitement around digital securities. This collaboration positions DSS to navigate the burgeoning digital asset landscape effectively, amid predictions that 10% of global GDP will be tokenized by 2027.

Document Security Systems, Inc. (DSS) announces an upsized public offering expected to generate approximately $34.5 million in gross proceeds, selling 12,319,346 shares at $2.80 per share. The funds will support the development of new business lines, acquisitions, and working capital. An additional 15% of shares may be purchased by underwriters, potentially raising total proceeds to $39.7 million. The offering is made under a shelf registration effective since May 2019.

Document Security Systems, Inc. (DSS) announced that the record date for its special share dividend of Impact BioMedical has been postponed to a future date, aligned with the S-1 filing for the dividend shares. DSS plans to issue a single special dividend of four Impact BioMedical shares for each DSS share held at the new record date. Despite the intention to take Impact BioMedical public, the statement also highlighted potential uncertainties that could impact this IPO process. Impact BioMedical's technology has been recently valued at up to $933 million, underscoring its significant market potential.