Global PPE Supplier Becomes Early Adopter of Document Security Systems’ New AuthentiGuard as a Service Anti-Counterfeiting ...
July 10 2020 - 6:45AM
Document Security Systems, Inc. (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 Malaysian personal protective equipment (PPE) exporter
Crecom Burj Group (CBG) has become an early adopter of the
Company’s new AuthentiGuard as a Service (AGaaS)
anti-counterfeiting technology.
AGaaS is designed for rapid implementation and empowers the
entire supply chain with technology to verify product authenticity.
Using the AGaaS platform, manufacturers are provided with a unique
high-security multi-layered marking to incorporate in each product,
while consumers can download an app via Google Play or the App
Store that provides the ability to scan and confirm authenticity of
a product, as well as a worldwide track and trace solution with
real-time reports to track each individual package and flag any
counterfeits in the process.
CBG has partnered with DSS to combat counterfeits of their AAMI
(Association for the Advancement of Medical
Instrumentation)-certified isolation gowns and gloves currently
exported to the US healthcare market.
“Counterfeiters are known to hijack high-quality PPE, replacing
shipments with cheap, inferior versions, selling the originals for
a profit on the black market,” commented Asyikin Muhiyuddin,
International Sales Director of CBG. “Our personal protection
equipment is designed to protect front-line workers in the
pandemic, and we cannot risk our customers receiving products that
may have been compromised while transporting it worldwide.
Utilizing DSS’s state-of-the-art AGaaS anti-counterfeiting
technology, we can ensure the integrity of our PPE shipments to the
medical industry.”
Trade in counterfeit and pirated goods has risen steadily in
recent years and is estimated at 3.3% of global trade, according to
a report from the EU’s Intellectual Property Office and the
Organization for Economic Co-Operation and Development (OECD).
According to the Global Brand Counterfeiting Report, the total
amount of counterfeiting globally reached $1.2 trillion in 2017 and
is expected to surpass $1.8 trillion by the end of 2020.
“While the pandemic has led to an increase in counterfeiting of
medical products, such as CBG’s PPE, the problem is much more
widespread, impacting nearly all industries and consumers,”
commented Jason Grady, Chief Operating Officer of DSS. “Adding
AGaaS to our product line expands our reach to segments of the
market looking for rapid implementation without robust reporting
and customization features of our enterprise-level AuthentiGuard
solution.”
Established in 2013 and headquartered in Malaysia, CBG is a
global provider in the healthcare industry, manufacturing and
supplying products to customers in Malaysia, the US, UK, Germany,
Qatar, Morocco, and Singapore.
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.
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