DSS Plans to Change Name to Alset, Inc. to Better Reflect Sweeping Organizational Changes and Ongoing Business Expansions
November 02 2020 - 7:30AM
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, is pleased to launch its new corporate name and brand,
Alset, Inc. (“Alset”). The Company’s name and ticker symbol change
is expected to go into effect after December 8, pending shareholder
approval.
“Over the past 18 months, we have undergone
sweeping change to our organizational structure, operating
companies, and business plan,” stated Frank D. Heuszel, CEO of DSS.
“Today, document security products and services are only a small
fraction of what the Company does. To more accurately reflect our
broad portfolio of current and future businesses we are excited to
launch the Alset brand.”
In 2019, the Company embarked on a bold
transformational vision to build a diversified portfolio of
companies to drive strong cash flow and profitability with the
focus of maximizing shareholder value and generating sustainable
growth. Under the leadership of Chan Heng Fai, who was named
Chairman of the Board in March 2019, the Company formed multiple
new divisions, laying the foundation to substantially transform and
grow the company through additional mergers and acquisitions.
An accomplished global business veteran with
more than 40 years of experience, Mr. Chan specializes in financial
restructuring and corporate transformation to unlock value and
unleash entrepreneurial zeal while managing risks. He has
successfully restructured more than 35 private and publicly held
early-stage and growth companies in the US, Singapore, Hong Kong
and other countries.
“We now operate through nine differentiated
business lines,” stated Mr. Chan. “The broad and amorphous nature
of the Alset branding will grow with us no matter who we grow into
as we continue acquiring exponential growth companies in a variety
of sectors, making them better and more profitable, and ultimately
sharing the economics of this success with our shareholders.”
The Company’s anti-counterfeiting and packaging
solutions divisions continue to generate rapid growth and are now
joined by business lines in healthcare, nutraceuticals, real
estate, energy, direct marketing, and more. These include Impact
BioMedical and its multitude of potentially game-changing
innovations, income producing real estate through American Medical
REIT, and high-growth, high-margin direct marketing opportunities
though RBC Life International, HWH World, and Sharing Services
Global.
“Our goal and focus are to create and deliver
long-term, sustained shareholder value as we continue to identify
potential operational cost-reduction opportunities while
simultaneously aligning resources to support and build a foundation
for strategic growth opportunities,” added Jason Grady, COO. “We
have already seen success from investments into existing key
scalable business lines which are driving continued top and
bottom-line improvements. The progress we are seeing on our new
business model and expansive strategy should significantly
accelerate these trends in 2021 and beyond, building the Alset
brand into a global multinational powerhouse.”
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, CEORedChip Companies
Inc.407-491-4498Dave@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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