DSG Global, Inc. Announces Full Year 2021 Financial Results

SURREY, British Columbia, April 01, 2022 (GLOBE NEWSWIRE) — DSG Global, Inc. (OTCQB: DSGT) (“DSGT” or the “Company”), an emerging leader in the electric vehicle and passenger car markets golf, today announced financial results for the full year 2021, which included record quarterly and annual revenue.

Fourth quarter 2021 financial highlights:

  • Revenue increased to $712,495 from $292,154 during the same period in 2020, an increase of 144%, primarily due to increased sales of Infinity Touchscreens and low-power electric vehicles. speed
  • Gross profit increased to $160,095 from $129,223 in the fourth quarter of 2020.
  • Operating loss decreased from $2,473,727 in Q4 2020 to $1,648,643 in Q4 2021.

Financial highlights for the year 2021:

  • Revenue increased 132.4% to $2,092,819 from $900,482 in 2020 due to increased revenue across all product categories, including electric vehicles.
  • Gross profit increased from $490,689 to $982,121, an increase of 100%.
  • Total assets increased to $2,612,240 compared to $2,103,562 at the end of 2020, mainly due to an increase in inventory and rental receivables
  • Total liabilities increased to $4,265,983 from $2,912,745 at the end of 2020.
  • Operating loss decreased from $5,069,696 in 2020 to $5,953,513. This is primarily due to increased spending on trade shows and costs associated with bringing electric vehicles to market.
  • Net loss decreased from $6,177,099 in 2020 to $6,384,655 in 2021.

For more information, please visit www.sec.gov for the full filing.

Operational Highlights:

  • Hiring of industry veteran Christian Dubois as president of Imperium Motors Canada. Christian has served as an executive at BMW and Mercedes Benz and most recently served as Director of Operations and Director of Dealer Acquisitions and Development at Dilawri Group, Canada’s largest automotive group with over 4,000 employees and seventy-six dealerships. franchisees representing thirty-five distinct brands.
  • Expanded dealer network across our electric vehicle and golf cart division in North America
  • Expanded electric vehicle product line to include Rumble Motors products Skywell Electric Buses
  • Participated in several auto shows, including Montreal, Quebec and the LA Auto Show
  • Received over 1,200 fully refundable deposits on the SEV
  • Signed distribution agreement with Ignition Brandery to supply electric vehicles, Shelbys and Vantage golf carts to 25 Caribbean islands
  • Added features and functionality to SEVs and electric buses both of which are currently undergoing certification
  • Carroll Shelby Licensing, Inc. has entered into a worldwide partnership that allows DSG Global to use intellectual properties controlled by CSL to manufacture, sell and/or distribute specific licensed merchandise under the terms of the agreement. http://acgolfcarts.com/
  • Vantage Tag, a subsidiary of DSG, attended the January 2022 PGA Show and introduced a new line of Vantage golf and fleet carts, a single-driver Marshal cart, DSG Shelby licensed golf carts and the Improved Infinity fleet management. The PGA show provided an abundance of opportunities for Vantage to sign new retail dealerships in North America. The company has signed distributors in North America and is still looking for distributors worldwide. The Vantage beacon will begin shipping in July 2022 to golf courses.
  • DSG has hired Dalie Mariette as a communications specialist for the DSG group of companies. She has been involved in social media management as well as trade show management in several fields, e-commerce, photographer and videographer.
  • Imperium Motor, a subsidiary of DSG, will participate in the Montreal and Quebec City auto shows in April 2022. Imperium will showcase its SEV flagship vehicle and electric bus at the shows.
  • DSG has moved to a 100,000 square foot headquarters in Milpitas CA in Silicon Valley for the assembly and presentation of our product line
  • DSG Global Announces Memorandum of Understanding to Acquire Golf Equipment Specialty Finance Business
  • DSG Global’s Imperium Skywell EV model scores high marks on popular “Munro Live” video podcast

About DSG Global

DSG Global is an emerging global technology company with an array of interconnected businesses in some of the fastest growing market sectors. With roots in the golf industry, where it specializes in fleet management with patented analytics, mobile touchscreen engagement and electric golf carts under the Vantage Tag Systems (VTS) brand, the company is evolving quickly with road-ready electric vehicles through its Imperium Motor Company subsidiary.

About Vantage Tag Systems

Vantage Tag Systems (VTS) provides patented electronic tracking systems and fleet management solutions to golf courses and other locations that enable remote fleet management of golf carts, turf equipment and utility vehicles ground. Its customers use VTS’s unique technology to significantly reduce operating costs, improve the efficiency and profitability of their fleet operations, increase safety and improve customer satisfaction. VTS has become a leader in the fleet management category in the golf industry, with its technology installed in vehicles around the world. VTS is now expanding into several new revenue streams through programmatic advertising, licensing and distribution, as well as expanding into commercial fleet management, individual Marshal golf carts, the Vantage golf and agricultural applications.

Additional information is available at http://vantage-tag.com/

CAUTION REGARDING FORWARD-LOOKING ITEMS

STATEMENTS

This press release contains forward-looking information. These forward-looking statements or information are provided for the purpose of providing information about management’s current expectations and plans regarding the future. Readers are cautioned that reliance on this information may not be appropriate for other purposes. Any such forward-looking information can be identified by words such as “planned”, “proposed”, “expects”, “intends”, “may”, “will” and similar expressions. Forward-looking information contained or referred to in this press release includes, but is not limited to, the company’s ability to secure manufacturing facilities and supply chains, the benefits the company expects to derive from the products existing and planned; and the company’s ability to achieve production and sales targets, generally.

Forward-looking statements or information are based on many factors and assumptions, which were used to make these statements and information, but which may prove to be incorrect. Although the Company believes that the expectations reflected in such forward-looking statements or information are reasonable, undue reliance should not be placed on any forward-looking statements as the Company cannot guarantee that such expectations will prove to be correct. Factors that could cause actual results to differ materially from those described in such forward-looking information include, but are not limited to, negative cash flows and future financing requirements to support operations; dilution; limited trading and revenue history and no profit or dividend history; competetion; economic changes; delays in the Company’s expansion plans; regulatory changes; and the impact and risks associated with the ongoing COVID-19 pandemic, including the risk of disruption at the Company’s facilities or in its supply and distribution channels. The forward-looking information contained in this press release reflects the Company’s current expectations, assumptions and/or beliefs based on information currently available to the Company.

Other factors that could cause actual results to differ materially from those anticipated by our forward-looking statements are described under “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations”. in our Annual Report on Form 10-K for Fiscal 2020 and our subsequent Quarterly Reports on Form 10-Q and Current Reports on Form 8-K, all filed with the Securities and Exchange Commission. Forward-looking statements are made as of the date of this release, and we expressly disclaim any obligation or undertaking to update any forward-looking statements. Forward-looking statements or information contained in this press release are expressly qualified by this cautionary statement.

Brokers and analysts:
Chesapeake Group
+1-410-825-3930
[email protected]

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