Two DSS Board Members Join Sharing Services Global Corp. Board

Rhea-AI Summary

DSS (NYSE American: DSS) announced the appointment of Frank D. Heuszel and Sassuan (Sam) Lee to the board of Sharing Services Global Corp (OTCQB: SHRG), where DSS holds a 37% ownership stake. Heuszel expressed enthusiasm about leveraging his experience to enhance shareholder value and grow the company's independent representative network. The collaboration aims to expand Sharing Services' market reach and product offerings, enhancing its competitive position within the direct selling industry.

Positive

• DSS's strategic position with a 37% stake in Sharing Services can lead to potential growth and value creation.
• New board appointments bring international business expertise, potentially benefiting Sharing Services operationally.

Negative

• None.

DSS owns 37% of the outstanding shares of SHRG

ROCHESTER, N.Y., Oct. 22, 2020 (GLOBE NEWSWIRE) -- Document Security Systems, Inc. (“DSS” or the “Company”) (NYSE American: DSS), a multinational company operating businesses focusing on brand protection technology, blockchain security, direct marketing, healthcare, real estate, and securitized digital assets, today announced Sharing Services Global Corp. (OTCQB: SHRG) (“Sharing Services”) appointed DSS Board Members Frank D. Heuszel and Sassuan (Sam) Lee to serve as directors on its Board.

DSS owns 37% of the outstanding shares of Sharing Services, a publicly traded diversified company dedicated to maximizing shareholder value through the acquisition and development of innovative companies, products, and technologies in the direct selling industry. The Sharing Services combined platform leverages the capabilities and expertise of various companies that market and sell products direct to the consumer through independent contractors.

“I look forward to being part of the team to help grow Sharing Services and to build upon the success that their team and the other Sharing Services Directors have already achieved.  I am excited about helping Sharing Services continue to serve its customers, develop new products and markets, to grow its independent representative network, and to build shareholder value,” stated Heuszel, CEO of DSS.

"The success that this company has achieved thus far is amazing and I hope to bring my expertise and international business experience to the Board and continue to add value," stated Lee.

About Document Security Systems, Inc.

DSS is a multinational company operating businesses focused on brand protection technology, blockchain security, direct marketing, healthcare, real estate, and securitized digital assets. Its business model is based on a distribution sharing system in which shareholders will receive shares in its subsidiaries as DSS strategically spins them out into IPOs. Its historic business revolves around counterfeit deterrent and authentication technologies, smart packaging, and consumer product engagement. DSS is led by its Chairman and largest shareholder, Mr. Fai Chan, a highly successful global business veteran of more than 40 years specializing in corporate transformation while managing risk. He has successfully restructured more than 35 corporations with a combined value of $25 billion.

For more information on DSS visit http://www.dsssecure.com.

Investor Contact:

Dave Gentry, CEO
RedChip Companies Inc.
407-491-4498
Dave@redchip.com

Safe Harbor Disclosure

This press release contains forward-looking statements that are made pursuant to the safe harbor provisions within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such forward-looking statements include, but are not limited to, statements related to the Company's intended use of proceeds and other statements that are not historical facts. Forward-looking statements are based on management's current expectations and are subject to risks and uncertainties that may cause actual results or events to differ materially from those projected. These risks and uncertainties, many of which are beyond our control, include: risks relating to our growth strategy; our ability to obtain, perform under and maintain financing and strategic agreements and relationships; risks relating to the results of development activities; our ability to attract, integrate and retain key personnel; our need for substantial additional funds; patent and intellectual property matters; competition; as well as other risks described in the section entitled "Risk Factors" in the prospectus and in our other filings with the SEC, including, without limitation, our reports on Forms 8-K and 10-Q, all of which can be obtained on the SEC website at www.sec.gov. Readers are cautioned not to place undue reliance on the forward-looking statements, which speak only as of the date on which they are made and reflect management's current estimates, projections, expectations and beliefs. We expressly disclaim any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in our expectations or any changes in events, conditions or circumstances on which any such statement is based, except as required by law.

FAQ

What recent board changes occurred at Sharing Services Global Corp?

DSS appointed Frank D. Heuszel and Sassuan (Sam) Lee to the board of Sharing Services Global Corp.

What is DSS's stake in Sharing Services?

DSS owns 37% of the outstanding shares of Sharing Services Global Corp.

How does DSS plan to enhance shareholder value at Sharing Services?

DSS aims to leverage its board members' expertise to grow the independent representative network and develop new products.

Who are the new board members at Sharing Services?

The new board members are Frank D. Heuszel and Sassuan (Sam) Lee, appointed by DSS.

What is the focus of Sharing Services Global Corp?

Sharing Services focuses on maximizing shareholder value through innovative companies and direct selling technologies.