DSG Global (OTCQB: DSGT) today announced the delay of its plan to complete a reverse stock split in connection with a potential listing on a national stock exchange. According to the update, the shareholder approval, as stated in the 14-C, will remain effective until March 2022. DSGT and its board of directors will delay the reverse split and instead seek to strengthen the company’s cash flow and balance sheet. The company is in negotiations to secure available debt (rather than equity) financing to bolster expansion, increase inventory and accelerate sales. “While the company is making significant progress on the business side, including diversifying our product lines and adding top tier talent, our board and management have agreed that the imminent prospect of a reverse split was not in our shareholders’ best interest in light of current market conditions,” said Bob Silzer, CEO of DSGT. “Therefore, we decided to delay the proposed reverse split until it becomes necessary. With all the positive developments and strong growth in sales we are currently experiencing, our board and management decided that securing debt financing and deferring a reverse split are favorable actions we can currently undertake. The company anticipates strong growth over the next several months.”
To view the full press release, visit https://ibn.fm/yppN3
About DSG Global Inc.
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 through its Imperium Motor Company subsidiary. For more information, visit www.Vantage-Tag.com and www.ImperiumMotorCompany.com.
NOTE TO INVESTORS: The latest news and updates relating to DSGT are available in the company’s newsroom at https://ibn.fm/DSGT
About QualityStocksNewsBreaks
QualityStocksNewsBreaks provide a rapid summary of corporate news that catch the attention of QualityStocks. QualityStocksBreaks are designed to keep investors up to date on important and breaking news in the small-cap and micro-cap markets. Spanning all industries, including energy, entertainment, telecommunications, healthcare, retail and more, these news breaks deliver opportunities the investment community may have missed. Whether it is earnings results, mergers and acquisitions, or any other market-moving news, our news breaks keep you in the know. QualityStocks is committed to connecting subscribers with companies that have huge potential to succeed in the short and long-term future. It is part of our mission statement to help the investment community discover emerging companies that offer excellent growth potential.
QualityStocks (QS)
Scottsdale, Arizona
www.QualityStocks.com
480.374.1336 Office
Editor@QualityStocks.com
Please see full terms of use and disclaimers on the QualityStocks website applicable to all content provided by QS, wherever published or re-republished: http://www.qualitystocks.net/disclaimer.php
No comments:
Post a Comment