Surrey, British Columbia, Nov. 21, 2019 (GLOBE NEWSWIRE) -- DSG GLOBAL INC. (OTC: DSGT), the world's leading provider of the patented GPS GOLF TAG Management System and on-course media system, today unveiled the foundation for growth during 2020.
The company will be diversifying revenues streams to include fleet management and selling both low speed and high-speed electric vehicles (EV). Upon proper inspections, certifications and licensing the vehicles will be a large contributor to the exponential growth anticipated in 2020.
Second half 2019 accomplishments include:
- Sequentially increasing Q3 2019 revenues 59% when compared to Q2 2019, a trend the company
anticipates continuing and accelerating.
- Installing 451 Infinity 12’HD and TAGS on golf course vehicles throughout the world. The company has a large backlog of contracted courses and will be installing new products on a regular basis.
- Upgrading to the OTCQB.
- Finalizing a major strategic partnership with Zhejiang Jonway Group Co., Ltd. (“Jonway Group”), a
leading manufacturer of electric vehicles in China.
- Appointing Rick Curtis as president of the new Automotive Division. Mr. Curtis brings extensive
automotive experience to the company both domestically and internationally.
- Identifying more favorable sources of future funding.
2019 full year accomplishments include:
- Increasing Tangible Assets by 76.2%, Increasing Tangible Liabilities only 6.1%.
- Decreasing Cash Used in Operating Activities from $1,124,073 to $652,026, a 42.0% improvement.
- Decreasing operating losses from $772, 528 to $483,839, a 37.4% improvement.
- Paying off, consolidating or locking up the large majority of Convertible Debt.
For additional information about corporate filings, please visit www.sec.gov.
“The company has number of obvious competitive advantages both within and outside the golf industry. The golf products are more functional and durable then their competitors and offer the ability to add programmatic advertising. This will be an additional revenues stream as the program commences. We already know the demand will be high as DSG is poised to be the leader in the market by providing high quality vehicles with more standard features than the competition. We also look forward to capitalizing on Jonway plants capacity of over 100,000 vehicles annually,” stated Bob Silzer CEO
“We are preparing to enter the most exciting time in corporate history. We should have several new significant developments which we can discuss with investors over the course of the next several weeks. We anticipate launching a number of new initiatives and revenue streams during Q1 2020 and are excited to finally deliver the financial metrics investors deserve. We look forward to ongoing improvements in our balance sheet, large revenue growth, healthy profit margins and a significantly improved company. It has taken some time to fix some of the historical issues, but we are now beginning to capitalize on our improved financial picture and leverage this into success in multiple industry segments,” continued Silzer.
About VANTAGE TAG SYSTEMS INC (VTS)
Vantage Tag Systems provides patented electronic tracking systems and fleet management solutions to golf courses and other avenues that allow for remote management of the course's fleet of golf carts, turf equipment and utility vehicles. Their clients use VTS's unique technology to significantly reduce operational costs, improve the efficiency plus profitability of their fleet operations, increase safety, and enhance customer satisfaction. VTS has grown to become a leader in the category of Fleet Management in the golf industry, with their technology installed in over vehicles worldwide. VTS is now aggressively branching into several new streams of revenue, through programmatic advertising, licensing and distribution, as well as expanding into Commercial Fleet Management, RAPTOR, a single rider golf cart and Agricultural applications.. Additional information is available at http://vantage-tag.com/
Safe Harbor for Forward-Looking Statements
This press release contains forward-looking statements. Forward-looking statements in this press release include statements relating to the Company's corporate finance and other strategic initiatives, and the Company's expansion into markets outside of the golf industry. Forward-looking statements are inherently subject to risks and uncertainties which could cause actual results to differ materially from those in the forward-looking statements, including, without limitation, the following: the timing and nature of any capital raising transactions; our ability to offer products and services for use by customers in new markets outside of the golf industry; the risk of competition; our ability to find, recruit and retain personnel with knowledge and experience in selling products and services in these new markets; our ability to manage growth; and general market, economic and business conditions. Additional factors that could cause actual results to differ materially from those anticipated by our forward-looking statements are under the captions "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" in our Current Report on Form 8-K filed with the Securities and Exchange Commission on May 12, 2015. Forward-looking statements are made as of the date of this release, and we expressly disclaim any obligation or undertaking to update forward-looking statements.
Brokers and Analysts:
Chesapeake Group
+1-410-825-3930
info@chesapeakegp.com
