CORRECTING and REPLACING – DPW Holdings’ Coolisys Technologies Receives $1.03 Million in Repeat Contracts
December 05 2018 - 1:10AM
In a release issued on December 3, 2018 by DPW Holdings (NYSE
American: DPW), please note that in the headline and first
paragraph of the release, the total amount of the repeat contracts
should be $1.03 million, not $1.3 million as previously stated. The
corrected release follows:
DPW Holdings’ Coolisys Technologies Receives $1.03
Million in Repeat Contracts
Newport Beach, CA, December 03, 2018 -- DPW Holdings, Inc. (NYSE
American: DPW) a diversified holding company, (“DPW” or “the
Company”) reported its subsidiary, Coolisys Technologies, Inc.
(“Coolisys”) has received two repeat customer contracts valued at
$1.03 million.
Recent Contracts
- A $630,000 order with a leading dental technology company for a
Power-Plus value-added solution: This includes product design,
turnkey supply-chain and product fulfillment services that exceeded
the customer’s stringent time-to-market and product quality
requirements;
- A $400,000 order with a tier-1 medical technology company
specifying a custom high-grade AC/DC Digital Power Corporation
(“DPC”) power supply. The contract includes design, development,
and manufacturing services for the custom medical grade power
supply solution to support their next generation endoscopy product
line. The selection was based on Coolisys Technologies’ excellence
in manufacturing, support, logistics and engineering.
“The success of Coolisys and its business units is driven by our
ability to design, develop and deliver cost effective power
solutions to highly discerning customers, especially those in the
medical and dental industry,” said Mr. Russell Woodmansee, Chief
Operating Officer of Coolisys Technologies, Inc. “We offer custom
design capability and program management that shortens
time-to-market objectives for our customers. Both these customers
have increased existing orders, underscoring the quality of our
services and our power electronics products. Our team has a long
history of operational excellence, helping OEMs get high-level
assemblies just in time, while also providing top-notch field
repair and support services,” explained Mr. Woodmansee.
About DPW Holdings, Inc.DPW Holdings, Inc. is a
diversified holding company pursuing growth by acquiring
undervalued businesses and disruptive technologies that hold global
potential. Through its wholly owned subsidiaries and strategic
investments, the company provides mission-critical products that
support a diverse range of industries, including defense/aerospace,
industrial, telecommunications, medical, crypto-mining, and
textiles. In addition, the company owns a select portfolio of
commercial hospitality properties and extends credit to select
entrepreneurial businesses through a licensed lending subsidiary.
DPW Holdings, Inc.’s headquarters is located at 201 Shipyard Way,
Suite E, Newport Beach, CA 92663; www.DPWHoldings.com.
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. 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.
###
Contacts:
Mary Magnani and Kirsten Chapman, LHA Investor Relations, 415.433.3777, dpwholdings@lhai.com
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