DSG Global Inc - DSGT stock

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OTC Symbol: DSGT | OTC Tier: Pink Limited

Company Profile

DSG Global Inc (OTC: DSGT) is a publicly traded tech company that develops, markets, and distributes fleet management solutions for the golf industry. The company also supplies its merchandise for global commercial, government, and military solutions. DSG Global operates via four divisions: Administration, Electric Vehicles, Golf Carts, and GPS Units. The firm aims to capitalize on the rush for environmentally friendly means of transportation by introducing the Shelby E-bike, which will not only be appealing to the Golf Community market but also the overall E-bike market. The company’s flagship product is the TAG Control unit, which can operate as a stand-alone unit or with one of two displays, like the INFINITY high-definition touch-activated screen or the INFINITY 10 alphanumeric display. DSG was founded in September 2007 and is based in Surrey, British Columbia, Canada.

Summary Corporate Business

DSG’s blueprint focuses on Fleet Management Systems for the international golf industry. The company established Imperium USA and Imperium Canada, its electric vehicle marketing and distribution segments in 2020, and AC Golf Carts, Inc., a golf cart division with exclusive global rights to Shelby Cobra golf carts. The company’s fleet management and golf division develops, sells, and rents GPS tracking equipment and interfaces for golf vehicles, and provides associated support services. It also advances golfer information projection systems, programmatic advertising, and licensing services.

Vantage Tag Systems Inc., DDG’s subsidiary, supplies the golf industry with a comprehensive array of electric vehicles and fleet management systems. It also provides a bunch of house support services to the golf industry and commercial customers in agriculture, education, tourism, resort, last-mile delivery, and corporate markets. The firm’s electric vehicle division imports, markets, and distributes a fleet of high-speed and low-speed electric passenger vehicles for commercial, commuter, family, and public consumption.

The company derives its revenue from five revenue streams:

• System Sales Revenue – made up of prices paid by customers who purchase and those that lease its TAG system hardware
• Golf Cart Sales Revenue – incorporates sales prices for the purchase of its Vantage and licensed Shelby golf carts
• Monthly Service Fees – paid by customers for wireless data used to run GPS tracking on the TAG systems
• Monthly Rental Fees – Paid by clients who rent the company’s TAG system hardware
• Programmatic Advertising Revenue – a potential high-rated revenue source. The company is designing a special software that will enable advertising and other media functionality on its INFINITY

Sales and Marketing Strategy

DDG has employed and embedded a massive team of experienced salespersons and agents in North America, which is considered the largest golf industry market. The company targets select global hot spot markets that offer significant investment opportunities. It also targets and establishes strong relationships with established companies such as Troon that manage golf facilities. Such companies cover everything from branding to procurement. DDG is currently providing products and services to several managing companies including Troon, American Golf, OB Sports, and Trump, among others.

History

The company was incorporated on September 24, 2007, as Boreal Productions Inc. under the state laws of Nevada. It was originally formed to option feature films and TV projects that were packaged and sold to movie firms and production companies. The company changed its name in January 2015 to DSG Global, Inc. and propelled a one-for-three reverse stock split of all its issued and outstanding shares to nail a share exchange agreement with DSG TAG Systems, Inc. On April 13, 2015, DDG entered a share exchange agreement with Vantage Tag Systems Inc. (“VTS”) (initially DSG Tag Systems Inc.), where the company consented to acquire a minimum of 75% and up to 100% of VTS of the issued and outstanding common shares of VTS in exchange for up to 20,000,000 pre-reverse split shares of DDG on the 1 common share for 5.4935 common shares of VTS basis. The deal was completed on May 6, 2015, and the company acquired the business and operations of VTS. DDG formed Imperium Motor Corp. in August 2021 and changed its name to Liteborne Motor Corporation in January 2023. It also incorporated Imperium Motor of Canada Corporation and AC Golf Carts, Inc. in August and September 2021 respectively.

Corporate Developments

On February 17, 2022, DDG entered a Waiver to the share purchase agreement dated December 13, 2021. The company received a chain of payments that incorporate $250,000, $250,000, $90,000, $250,000, $125,000, $125,000, and $285,000 distributed among the months between January and November 2022, for a sum of 1,375 preferred series F shares. According to the waiver, the company agreed to sequentially repay these amounts by channeling 20% of all gross sales back to the subscriber to the full redemption date of the 500 shares of the Series F Preferred Stock issued as per the agreement. As of December 31, 2022, the firm had made $20,411 in required payments.

The company availed its Shelby 4 & 6-seat golf carts for shopping in the North American market on November 14, 2022. The Shelby golf cart portfolio was named after Carroll Shelby, the legendary car driver. The vehicles’ designs are concentrated on acceleration, braking, and handling. The cats were also unleashed in two configurations: Shelby Cobra and Shelby GT 500, both with highly-impressive features.

Recent Financial Performance

DDG Global realized 186% in revenue growth for Q3, 2022 compared to the third quarter of 2021. Gross totaled $472,832, representing a $200,904 or 74% increase compared to Q2, 2021. Its net loss was $2,370,834 or 0.02 EPS versus $1,948,678 in Q3 2021, a 21.66% increase.

Management Team

Robert ''Bob'' Silzer, Chief Executive Officer

• He is a senior serial entrepreneur and business strategist
• Has a track record of transforming technology ideas into robust profitable businesses
• He propels the firm’s penetration into rapid-growth consumer EV sectors in North America, the Caribbean, and Mexico,  with its outstanding electric cars, buses, trucks, and vans
• In 2008, he founded Vantage Tag Systems, a DDG subsidiary in charge of GPS-enabled fleet management

Other executives are:

• Zahir Loaiza, Interim Chief Financial Officer
• Patrick J. Parenti, SVP of Global Sales
• Clint Singer, Director of Engineering
• Daniel Price, Technical Operations Manager

Legal Issues

Coastal Investment Partners, LLC v. DSG Global, Inc.

Coastal Investment Partners, LLC initiated action against DSG Global, Inc. on June 13, 2017. The plaintiff filed the motion seeking conversion of the principal amount of three notes issued by DDG Global, the defendant, into DDG’s common stock. The plaintiff brought the course of action citing that the three notes were convertible and a breach of contract regarding the notes and a securities purchase agreement. In response, DDG filed a Cross Motion to Dismiss claiming that the complaint was usurious and void under New York law. The two companies entered a series of agreements on November 7, 2016, including a SPA and three convertible promissory notes with a maturity date of May 7, 2017.