DPW Holdings, Inc. (NYSE American: DPW) ("DPW" or the "Company"), a
diversified holding company, announced today that it has expanded
into an investment similar to what a private equity firm could
undertake, partnering with perennial restauranteurs to acquire IAM,
Inc., the owner of the Prep Kitchen brand restaurants located in
the greater San Diego area. DPW’s new partners, Deborah and David
Krause, will operate IAM, Inc. through their hospitality management
company and oversee the management of the Prep Kitchen branded
restaurants. Deborah and David Krause are experienced professionals
with over 50 years of service managing both niche and named brand
locations. They intend to expand the Prep Kitchen brand throughout
California starting in 2018 as well as expand the portfolio of
restaurant brands owned by IAM, Inc.
The Company’s subsidiary Digital Power Lending, LLC, has
provided financing to IAM, Inc.to finance the acquisition.
Shareholders, investors and the public are encouraged to read the
Current Report on Form 8-K that will be filed with the SEC within
the required reporting period and available on www.DPWHoldings.com
under the Investor Relations tab.
“We are very excited about partnering with Deborah and David
Krause who have many years of experience successfully managing and
growing hospitality businesses. Deborah and David are amazing and
we look forward to providing additional support as their company
grows. We are confident they will expand their presence in the
hospitality sector and bring value to the DPW shareholders,” said
Milton “Todd” Ault, III, the CEO and Chairman of DPW Holdings,
Inc.
“With Mr. Ault’s years of experience in the hospitality sector,
DPW Holdings was a natural fit to partner with. We look forward to
working with Mr. Ault and his team to build IAM, Inc., expand the
Prep Kitchen brand and create and develop other brands over the
next decade,” stated Deborah Krause, operating partner of IAM,
Inc.
ABOUT DPW HOLDINGS, INC.
Headquartered in Newport Beach, CA, DPW Holdings, Inc.
(www.DPWHoldings.com), is a diversified holding company with a
growth strategy of acquiring undervalued assets, disruptive
technologies, sustainable solutions, and exciting ventures for
incubation and development to their full potential for long-term
growth and investor returns.
DPW, through its wholly-owned subsidiary, Coolisys Technologies,
Inc., is dedicated to providing world-class technology-based
solutions for critical applications and lifesaving services, in
which innovation is the main driver. Coolisys serves the defense,
aerospace, naval, homeland security, medical, telecom, datacom, and
industrial markets. Its growth strategy targets core markets that
are characterized by “high barriers to entry” and that require
specialized products and services that are not likely to be
commoditized. Through its portfolio companies, Coolisys develops
and manufactures cutting-edge switching power products and power
solutions utilizing its customized digital power management and
resonant topology to achieve the highest efficiency and highest
density power converters and inverters; specialized complex
airborne high-frequency, radio frequency (RF), and microwave
detector-log video amplifiers (DLVA); very high-frequency filters;
and naval power conversion and distribution equipment. Coolisys
provides its technology and services through its three primary
groups: the Power Solutions Group (PSG); the Defense and Aerospace
Solutions Group (DSG); and the Advanced Service Industries (ASI)
Group. Coolisys manages five divisions, including Digital Power
Corporation, www.DigiPwr.com, a leading provider of power
electronics technology based in Northern California; Digital Power
Limited dba Gresham Power Ltd., www.GreshamPower.com, a designer
and manufacturer of power distribution systems primarily for Naval
use based in Salisbury, UK; Microphase Corporation,
www.MicroPhase.com , a designer and manufacturer of microwave
electronics technology based in Shelton, CT; Power-Plus Technical
Distributors, www.Power-Plus.com, a value-added distributor based
in Sonora, CA; and Enertec Systems, a developer and manufacturer of
specialized advanced electronic systems for the defense and
aerospace sectors based in Karmiel, Israel.
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 operating under
Financial Lender’s License ##60DBO-77905 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,
Inc. 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 201 Shipyard Way,
Suite E, CA 92663; www.DPWHoldings.com. For Investor inquiries:
IR@DPWHoldings.com or 1-888-753-2235.
Forward-Looking StatementsThe 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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