Surrey, British Columbia, March 26, 2019 (GLOBE NEWSWIRE) -- DSG GLOBAL INC. (OTC: DSGT; DSGTD), the world's leading provider of the patented GPS Golf TAG Management System and on-course media system, today announced a reverse stock split of its shares of common stock at a ratio of 1-for-4000. The reverse split will take effect at the open of business today, March 26, 2019. The common shares of DSG Global Inc., which previously traded under the ticker symbol “DSGT,” will begin trading on a post-split basis under the symbol “DSGTD,” which will continue for a period of 20 business days after which time the “D” will be removed, and the symbol will revert back to “DSGT.” The Company’s common stock will also be identified under a new CUSIP number 23340C 203.
Each stockholder’s percentage ownership interest in DSG Global remains unchanged with the reverse stock split. As a result of the reverse stock split, every 4000 shares of issued and outstanding common stock are converted into one share of common stock, with all fractional shares being rounded up to the nearest whole share. No fractional shares will be issued in connection with the reverse stock split. The reverse stock split will reduce the number of shares of issued and outstanding common stock from approximately 2,578,434,224 pre-split shares to approximately 644,609 post-split shares.
As previously disclosed, the reverse split was implemented by the Company to fulfill the stock price requirements in connection with the Company’s planned application to list its shares of common stock on a national stock exchange.
Bob Silzer, CEO of DSG Global, noted, “This reverse stock split is an important step towards listing on a national stock exchange, which we believe will help attract a broader, more diverse stockholder base in light of our strong revenue growth, increased sales pipeline and improved profitability. I would like to express our gratitude to our current shareholders who have exhibited loyalty and patience as throughout this process.”
About DSG Global Inc. DSG Global Inc. (DSGT) provides patented electronic tracking systems and fleet management solutions to golf courses that allow for remote management of the course's fleet of golf carts, turf equipment and utility vehicles. Their clients use DSGT's unique technology to significantly reduce operational costs, increase safety, and enhance customer satisfaction. DSGT has grown to become a leader in the category of Fleet Management in the golf industry, with their technology installed in over 15,000 vehicles on more than 250 courses worldwide. DSGT is now aggressively branching into several new streams of revenue, through programmatic advertising, licensing and distribution. DSGT is also expanding into Commercial Fleet Management, and Agricultural applications. Additional information is available at http://www.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.
Contact:
Crescendo Communications, LLC
Tel: 212-671-1021
Email: dsgt@crescendo-ir.com