ROCHESTER, N.Y., May 30, 2019 (GLOBE NEWSWIRE) -- Document Security Systems, Inc. (NYSE American: DSS), ("DSS"), a leader in anti-counterfeit, authentication, and diversion protection technologies, announced today its intention to form four new, wholly-owned subsidiaries that will participate in the growth of new and advancing global technologies and markets.
The new companies will be led by DSS board chairman Mr. Fai H. Chan, who will assume the role of Executive Chairman of each entity:
DSS Blockchain Security, Inc.
DSS Blockchain Security, Inc. will specialize in the development of blockchain security technologies for tracking and tracing solutions for supply chain logistics and cyber securities across global markets.
Decentralize Sharing Systems, Inc.
Decentralize Sharing Systems, Inc. seeks to provide services to assist companies utilizing blockchain technologies for sharing system solutions in the new economics of the peer-to-peer decentralized sharing marketplaces.
DSS Securities, Inc.
DSS Securities, Inc. will seek to establish or acquire two parallel streams of digital asset exchanges in multiple jurisdictions: (i) Securitized Token Exchanges, focusing on digitized assets from different vertical industries and (ii) Utilities Token Exchanges, focusing on “blue-chip” utility tokens from solid businesses.
DSS BioHealth Security, Inc.
DSS BioHealth Securities, Inc. will be principally involved in the biomedical sector, including investing in companies which hold bio-medical intellectual property and/or which have, or are securing, strategic alliances, partnerships and distributing rights for bio-medical and security products, technologies or enterprises. This new division will focus on open-air defense initiatives which curb transmission of air-borne infectious diseases such as tuberculosis, influenza, among others, in open areas.
The new technology companies are in line with DSS’ current business activities focused on blockchain technologies in tracking and tracing solutions for supply chains.
DSS will look to utilize existing relationships as well as to attract new, leading industry professionals to assist with the development of each subsidiary.
“We are looking forward to expanding into these dynamic technology marketplaces, and with the guidance of Fai Chan, believe that these opportunities will provide tremendous value to our shareholders,” stated Frank Heuszel, DSS CEO.
An accomplished global business veteran of more than 40 years Mr. Chan specializes in financial restructuring and corporate transformation to unlock value and unleash entrepreneurial zeal while managing risk. For additional information on Chan’s expertise, visit www.fai185.com, www.coinstreet.partners; www.stoglobalx.com; www.bcdigital.io.
ABOUT DOCUMENT SECURITY SYSTEMS, INC.
For over 16 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.