DPW Holdings, Inc. (NYSE American: DPW) ("
DPW" or
the "
Company"), a diversified holding company,
announced today it has entered into an agreement to acquire the
operations of Flexisphere, http://www.flexisphere.com/, an IT
managed services provider that will work with Super Crypto Mining,
DPW’s wholly owned subsidiary, to leverage its curated blockchain
and cloud mining technology and expertise. Flexisphere’s client
base ranges from small to medium businesses (“SMB”) and large firms
that seek expertise for desktop, network, and other distributed
services as well as programming, web/online asset development and
cloud computing. Flexisphere is expected to be a
majority-controlled subsidiary of DPW and will be available to
provide a host of services including supporting Super Crypto
Mining’s development of an online cloud mining platform for
consumers interested in purchasing hash-rate for as low as $250.00.
The cloud mining platform will feature a comprehensive dashboard
readily providing historical and real-time operational data to its
subscribers. In conjunction with these developments, the Company
has prompted Super Crypto Mining to appoint Darren Magot as its
CEO.
Flexisphere is led by its President, CEO and Founder, Thomas
Saleh, a leading entrepreneur in the computer industry for more
than three decades. Mr. Saleh has founded seven successful
high-technology companies, and influenced the success of several
more. His first company, Applied Logic, an early provider of
Managed Hosting Services, was acquired by Raytheon in 1980. He next
founded XNET, which built the first fully automated financial
futures and commodities exchange (INTEX) in Bermuda. XNET was
acquired by the International Futures and Commodities Exchange in
1984. From there Mr. Saleh’s accomplishments have varied, but
include his tenure from 2007 to 2009 at the FASB where, at the
request of the president of the Financial Accounting Foundation and
the Chairman of the SEC, Mr. Saleh served as the CTO and led the
development of the USGAP XBRL “Intelligent Data” project. Mr.
Saleh’s research on Policy Driven Security and Cloud Computing
technologies led to the formation of FlexiSphere, a company
specifically focused on delivering highly managed and ultra-secure
turnkey computing to selected verticals including financial
services, legal and transportation. Mr. Saleh has served as a
strategic consultant and senior adviser to the NASDAQ, the NYSE,
the FASB and Safeway Supermarkets among others. He has served as a
director of 6 venture-backed companies and advises several private
equity funds.
“We are excited about the appointment of Darren Magot as the CEO
of Super Crypto Mining. Mr. Magot brings decades of experience with
identifying consumer tastes and trends to drive many successful
marketing plans and programs that maximized client revenues against
stern competition. We believe Mr. Magot has the critical expertise
to navigate Super Crypto Mining’s future through the rapidly
evolving crypto space. We expect him to lead Super Crypto Mining in
accomplishing multiple goals including the deployment of over
10,000 crypto miners, the establishment of multiple data centers
and mining co-locations that operate efficiently and effectively to
launching our latest initiative, cloud based mining so consumers
can readily participate by purchasing hash-rate at an affordable
level,” said Milton “Todd” Ault III, the Company’s CEO and
Chairman. Mr. Ault continued, “We are committed to supporting Super
Crypto and all its projects as we execute on our highly profitable
long-term strategies. We see the anticipated acquisition of
Flexisphere as in integral part of our long-term strategy. We look
forward to having Flexisphere and its very talented team of experts
lead by Mr. Saleh join the DPW family. Mr. Saleh brings a wealth of
experience, proficiency and knowledge that can benefit all DPW. We
also look forward to Super Crypto Mining working with Flexisphere
and Mr. Saleh in the short-term to develop an innovative cloud
mining platform.”
Mr. Magot has over 30 years of experience in business
development, financial management and sales management with both
private and public companies leading teams and projects of various
sizes. For the last 5 years, Mr. Magot has been focused on the
innovation of new technology and products with some of the largest
Fortune 500 companies in the world. The Company selected Mr. Magot
since he possessed the best skill set to create a team that can
support the aggressive growth opportunities within the Super Crypto
family brands. Mr. Magot has a Finance Degree from California State
University in Chico. Mr. Magot is the featured guest speaker who
will update attendees along with the Company’s CEO and Chairman on
both the current and future activities and initiatives of Super
Crypto Mining during the 1-hour webinar on January 31, 2018
starting at 5:00pm EST. To participate attendees must individually
register prior to the webinar using this link, DPW Webinar.
The Company reminds everyone that the presentation for the
webinar will be made public through the filing with the SEC of an
8-K report prior to the webinar on Wednesday afternoon.
Shareholders, investors and the public are encouraged to review the
presentation prior to the webinar as it will be posted at
www.DPWHoldings.com. The Company will make available, after the
webinar, a video recording for those who could not attend as well
as for anyone else. The video will be posted along the side of the
posted presentation in the coming days with a link sent to all
registered participants.
ABOUT DPW HOLDINGS, INC.
Headquartered in Fremont, CA, DPW Holdings, Inc.,
www.DPWHoldings.com, is a diversified holding company that, through
its wholly owned subsidiary, Coolisys Technologies, Inc., is
dedicated to providing world-class technology-based solutions where
innovation is the main driver for mission-critical applications and
lifesaving services. Coolisys’ growth strategy targets core markets
that are characterized by “high barriers to entry” and include
specialized products and services not likely to be commoditized.
Coolisys through its portfolio companies develops and manufactures
cutting-edge resonant switching power topologies, specialized
complex high-frequency radio frequency (RF) and microwave
detector-log video amplifiers, very high-frequency filters and
naval power conversion and distribution equipment. Coolisys
services the defense, aerospace, medical and industrial sectors and
manages four entities including Digital Power Corporation,
www.DigiPwr.com, a leading manufacturer based in Northern
California, 1-877-634-0982; Digital Power Limited dba Gresham Power
Ltd., www.GreshamPower.com, a manufacturer based in Salisbury, UK;
Microphase Corporation, www.MicroPhase.com with its headquarters in
Shelton, CT 1- 203-866-8000; and Power-Plus Technical Distributors,
www.Power-Plus.com, a wholesale distributor based in Sonora, CA
1-800-963-0066.
Digital Power Lending, LLC, www.DigitalPowerLending.com, a
wholly owned subsidiary of the Company, is based in Fremont, CA,
and is a California private lending company dedicated to
strategically providing capital to small and middle size businesses
for an equity interest in addition to loan fees and interest. Super
Crypto Mining, Inc. www.SuperCryptoMining.com is a wholly-owned
subsidiary of the Company, is based in Fremont CA that leverages
its engineering expertise and existing locations to create crypto
currency mining facilities across the globe Super Crypto
Mining operates the branded division, Super Crypto Power,
www.SuperCryptoPower.com. Excelo, LLC, www.Excelo.com, a
wholly-owned subsidiary of the Company, is a national search firm
specializing in fulfilling strategic executive, professional and
hi-tech placements for businesses delivering world-class services.
DPW Holdings, Inc.’s headquarters is located at 48430 Lakeview
Blvd., Fremont, California, 94538; 1-877-634-0982. For Investor
inquiries: IR@DPWHoldings.com or 1-888-753-2235.
Forward-Looking Statements
The foregoing release contains “forward-looking statements”
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, including statements regarding the
acquisition and the ability to consummate the
acquisition. These forward-looking statements generally
include statements that are predictive in nature and depend upon or
refer to future events or conditions, and include words such as
“believes,” “plans,” “anticipates,” “projects,” “estimates,”
“expects,” “intends,” “strategy,” “future,” “opportunity,” “may,”
“will,” “should,” “could,” “potential,” or similar expressions.
Statements that are not historical facts are forward-looking
statements. Forward-looking statements are based on current beliefs
and assumptions that are subject to risks and uncertainties.
Forward-looking statements speak only as of the date they are made,
and the Company undertakes no obligation to update any of them
publicly in light of new information or future events. Actual
results could differ materially from those contained in any
forward-looking statement as a result of various factors. More
information, including potential risk factors, that could affect
the Company’s business and financial results are included in the
Company’s filings with the U.S. Securities and Exchange Commission,
including, but not limited to, the Company’s Forms 10-K, 10-Q and
8-K. All filings are available at www.sec.gov and on the Company’s
website at www.DPWHoldings.com.
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