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UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
8-K
CURRENT
REPORT
Pursuant
to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date
of Report (Date of earliest event reported): October
20, 2023
DSS,
INC.
(Exact
name of registrant as specified in its charter)
New
York |
|
001-32146 |
|
16-1229730 |
(State
or other jurisdiction
of
incorporation) |
|
(Commission
File
Number) |
|
(IRS
Employer
Identification
No.) |
275
Wiregrass Pkwy,
West
Henrietta, NY
|
|
14586 |
(Address
of principal executive offices) |
|
(Zip
Code) |
Registrant’s
telephone number, including area code: (585)
325-3610
N/A
(Former
name or former address, if changed since last report.)
Check
the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under
any of the following provisions:
☐ |
Written
communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
|
|
☐ |
Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
|
|
☐ |
Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
|
|
☐ |
Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities
registered pursuant to Section 12(b) of the Act:
Title
of each class |
|
Ticker
symbol(s) |
|
Name
of each exchange on which registered |
Common
Stock, $0.02 par value per share |
|
DSS |
|
The
NYSE American
LLC |
Indicate
by check mark whether the registrant is an emerging growth company as defined in as defined in Rule 405 of the Securities Act of 1933
or Rule 12b-2 of the Securities Exchange Act of 1934.
Emerging
growth company ☐
If
an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying
with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item
3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.
On
October 20, 2023, DSS, Inc. (the “Company”) received a letter (the “Letter”) from the staff of NYSE American
LLC (the “Exchange”) stating that the Company’s securities have been selling for a low price per share for a substantial
period of time and, pursuant to Section 1003(f)(v) of the NYSE American Company Guide, the Company’s continued listing is predicated
on it effecting a reverse stock split of its common stock or otherwise demonstrating sustained price improvement within a reasonable
period of time, which the Exchange has determined to be no later than April 20, 2024. However, the Exchange can take accelerated delisting
action if the Company’s common stock trades at levels viewed to be abnormally low. The Company intends to regain compliance with
the Exchange’s listing standards on or before April 20, 2024 and will do so by undertaking a measure or measures that are in the
best interests of the Company and its stockholders.
The
Letter has no effect on the Company’s business operations and does not trigger any violation of its material debt or other obligations.
The Company’s common stock will continue to be traded on the Exchange under the symbol “DSS,” subject to the Company’s
compliance with the Exchange’s other continued listing requirements, but will be assigned the notation .BC after the listing symbol
to signify that the Company is not currently in compliance with the Exchange’s continued listing standards. The Company expects
to continue to file periodic and certain other reports with the U.S. Securities and Exchange Commission as required by federal securities
law.
Item
7.01 Regulation FD Disclosure.
On
October 26, 2023, the Company issued a press release relating to the matters described in Item 3.01 of this Current Report on Form 8-K,
a copy of which is attached hereto as Exhibit 99.1.
Item
9.01 Financial Statements and Exhibits.
(d)
Exhibits:
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this Current Report on Form 8-K
to be signed on its behalf by the undersigned hereunto duly authorized.
Date:
October 26, 2023 |
DSS,
INC. |
|
|
|
|
By: |
/s/
Frank D. Heuszel |
|
Name: |
Frank
D. Heuszel |
|
Title: |
Chief
Executive Officer |
Exhibit 99.1
DSS
Inc. Receives Notice of Non-Compliance with NYSE American Trading Share Price Listing Rule
Company
intends to cure the deficiency and return to compliance with NYSE American standard
NEW
YORK, Oct. 26, 2023 (GLOBE NEWSWIRE) — DSS, Inc.(NYSE American: DSS) announced today that the Company received a letter (the “Letter”)
from the staff of NYSE American LLC (the “Exchange”) stating that the Company’s securities have been selling for a
low price per share for a substantial period of time and, pursuant to Section 1003(f)(v) of the NYSE American Company Guide. The Company’s
continued listing is predicated on it effecting a reverse stock split of its common stock or otherwise demonstrating sustained price
improvement within a reasonable period of time, which the Exchange has determined to be no later than April 20, 2024.
On
October 26, 2023, the Company notified the Exchange that it intends to cure the stock price deficiency and to return to compliance with
the Exchange continued listing standards.
The
Company’s common stock will continue to be listed and traded on the NYSE American during this period, subject to the Company’s
compliance with other NYSE American continued listing standards.
About
DSS, Inc.
DSS
is a multinational company operating businesses within nine(9) divisions: Product Packaging, Biotechnology, Commercial Lending, Securities
and Investment Management, Alternative Trading, Digital Transformation, Secure Living, and Alternative Energy. DSS strategically acquires
and develops assets to increase shareholder value through periodic IPO spinoffs. Since 2019, under the guidance of new leadership, DSS
has built the necessary foundation for achievable growth through the formation of a diversified portfolio of companies positioned to
drive profitability in multiple high-growth sectors.
For
more information on DSS visit https://www.dssworld.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 our SEC filings, including, without limitation, our reports on Forms 8-K, 10-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.
Contact:
DSS
Inc. Investor Relations
IR@dssworld.com
+1
(585) 565-2422
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