Business
DSS Announces Letter to Shareholders
DSS Announces Letter to Shareholders.
About this update from Sharing Services Global Corp.
[{"type":"text","content":"\n ROCHESTER, N.Y., March 02, 2023 (GLOBE NEWSWIRE) -- DSS, Inc. (“DSS” or the “Company”) (NYSE American: DSS), a multinational company operating nine business divisions through strategic acquisitions and development to enrich shareholder value, today announced a letter to shareholders. Dear Shareholders: I want to begin by thanking you, our shareholders, for your continued support as we execute our vision of a decentralized sharing business model to build shareholder value and drive exponential growth. In my last letter to shareholders, I said 2022 was forecasted to be a breakout year for DSS. I am pleased to report that our team delivered on this objective as we excelled under the first year of the rebranded DSS, Inc., driving strong top-line growth across our diverse business lines and fortifying our foundation for accelerated growth and value creation moving forward. I remain proud of what our company and team of employees around the world have achieved, collectively and individually. This progress is a function of continual investments in our people, systems, and companies, in good and bad times, to build our capabilities and brand. Our trailing 12-month revenues, as of the third quarter of 2022, have more than doubled from where we were at the end of 2021, and our total assets, now at nearly $265 million, have grown more than 1,000%, up from under $20 million, since we first embarked on transforming DSS just over three years ago in late 2019. Importantly, the acquisition of new assets, whether entire businesses, new technologies, or other innovations, is an integral part of the unique development process we employ to create value and drive long-term growth. Three-Stage Development for Exponential Growth I would like to note some principles and strategies that we use to build this company, which have been described to you, but that are worth repeating. For each acquisition we complete, we apply a three-stage development process to maximize value creation and provide the engine for growth through increased bandwidth, horsepower, and scale. The first stage of this process begins with the asset acquisition itself, where we identify and acquire the right vehicles and asset structures, as well as the organizations and people capable of building revenue and scaling operations. The second stage of our devel...