ROCHESTER, N.Y., March 28, 2019 (GLOBE NEWSWIRE) -- Document Security Systems, Inc. (NYSE American: DSS), ("DSS" or “Company”), a leader in anti-counterfeit, authentication, and diversion protection technologies, is pleased to announce today that it has appointed Mr. Heng Fai Ambrose Chan as Chairman of its Board of Directors.
Mr. Chan has been a DSS Director since January 12, 2017. He also currently holds positions as Director and Chief Executive Officer of the Company’s subsidiaries - DSS International Inc., DSS Asia Limited and DSS Cyber Security Pte Ltd.
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 United States, Singapore, Hong Kong and other countries.
Among his noteworthy accomplishments are ZH International Limited (formerly known as Heng Fai Enterprises) and China Gas Holdings which are listed in the Hong Kong Stock Exchange; Global Medical REIT, a New York Stock Exchange listed company; and Singhaiyi Limited (formerly known as Singxpress Land Limited), a company listed in the Singapore Stock Exchange. From previous underperformance, Mr. Chan has successfully restructured them and to-date, they hold a combined market capitalization of over USD$18.0 billion.
Mr. Chan draws one dollar per annum for remuneration as an officer of the above-mentioned corporate subsidiaries. Additional information on Mr. Chan’s background and accomplishments is available by visiting http://www.fai185.com. Mr. Chan currently holds approximately 19.13% of DSS’s issued and outstanding common stock through various direct and indirect shareholdings.
With his global connections, Mr. Chan is confident that he has the experience to create meaningful shareholder value and assist the Company in its growth. The executive team at DSS is looking forward to having Mr. Chan as Chairman of its Board of Directors.
ABOUT DOCUMENT SECURITY SYSTEMS, INC.
For over 15 years, Document Security Systems, Inc. (“DSS”) has protected corporations, financial institutions, and governments from sophisticated and costly fraud. DSS' innovative anti-counterfeit, authentication, and brand protection solutions are deployed to prevent attacks which threaten products, digital presence, financial instruments, and identification. AuthentiGuard™, the Company's flagship product, provides authentication capability through a smartphone application so businesses can empower a wide range of employees, supply chain personnel, and consumers to track their brands and verify authenticity. For more information on DSS, visit www.dsssecure.com.
Document Security Systems, Inc.
Tel: (585) 232-5440
Forward-looking statements that may be contained in this press release, including, without limitation, statements related to the Company’s plans, strategies, objectives, expectations, potential value, intentions and adequacy of resources, are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act and contain words such as “believes,” “anticipates,” “expects,” “plans,” “intends” and similar words and phrases. These forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from the results projected in any forward-looking statement. In addition to the factors specifically noted in the forward-looking statements, other important factors, risks and uncertainties that could result in those differences include, but are not limited to, our ability to continue the growth in sales of AuthentiGuard and manage our expenses, as well as those risks disclosed in the “Risk Factors” section of the Company’s Annual Report on Form 10-K for the year ended December 31, 2018, filed with the Securities and Exchange Commission on March 15, 2019. Forward-looking statements that may be contained in this press release are being made as of the date of its release, and the Company assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements.