The Company is also Working to Convert a Robust Golf Sales Pipeline and is in Talks with Multiple Major Distributors for Significant Additional Gains in Market Share
SURREY, British Columbia, Feb. 09, 2022 (GLOBE NEWSWIRE) -- DSG Global, Inc. (OTCQB:DSGT) (“DSGT” or the “Company”), the parent and owner of brands and licenses for a wide range of vehicles, from Imperium Motor Corp’s luxury electric SUV’s, trucks, buses, and e-bikes, to the world’s most advanced GPS-based golf cart fleet management system and state-of-the-art disruptive golf cart designs, is excited to announce a material acceleration in new sales from the Company’s Vantage Tag GPS golf equipment and technology segment so far this year.
The Company has already booked 24 new orders for 1,626 Vantage Tag GPS Fleet Management System units so far in 2022 (up through January 31), driving $2.273 million in locked-in new sales. The Company’s confirmed purchase orders include approximately $2.12 million in orders payable upon fulfillment and approximately $150,000 in recurring service revenue.
“Our Vantage Tag GPS Fleet Management sales pipeline has historically evidenced a strong close rate on new verbal commitments, which positions our sales team for a potential breakout quarter for sales and growth in our core segments in Q1 given the significant number of verbal commitments still to work through to realize the full impact of the PGA show in Orlando last month,” noted DSGT CEO, Robert Silzer. “We are delighted with the momentum thus far.”.
“Our market position in the golf equipment space is evolving rapidly as we establish ourselves with key market participants and distributors. We believe the momentum we have already established so far this year is just the tip of the iceberg,” continued Silzer.
The Company’s locked-in new orders already represent year-over-year topline growth of 487% when compared to data from the Company’s 2021 Q1 performance. This growth rate is likely an underestimation given that the quarter has nearly two more months and the Company has numerous additional orders in progress.
DSG Global also reports being in late-stage discussions with multiple distributors seeking rights to add the new Vantage Golf Cart lineup to current offerings. Management believes Vantage Tag is potentially on pace to sign more than fifty (50) new dealers over the next two months.
Silzer added, “We are also starting to take initial orders for our revolutionary new Marshal Golf Cart design. This is the single seater targeting course marshals that created such an enormous buzz in Orlando last month. It’s the first of its kind in the industry, and we believe it has the potential to be a true game changer. We look forward to providing additional details as we gain more perspective and data.”
About DSG Global
DSG Global is an emerging global technology company with an array of interconnecting businesses in some of the fastest-growing market sectors. With roots in the golf industry, in which it specializes in fleet management with patented analytics, mobile touch screen engagement and electric golf carts under the Vantage Tag Systems (VTS) brand, the Company is moving quickly with road-ready electric vehicles for sale in the last quarter of 2021 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 venues that allow for remote management of the course's fleet of golf carts, turf equipment and utility vehicles. Its clients use VTS' 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 vehicles worldwide. VTS is now branching into several new streams of revenue through programmatic advertising, licensing, and distribution, as well as expanding into commercial fleet management, PACERTM single rider golf carts, and agricultural applications.
Additional information is available at http://vantage-tag.com/
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This news release contains forward-looking information. Such forward-looking statements or information are provided for the purpose of providing information about management's current expectations and plans relating to the future. Readers are cautioned that reliance on such information may not be appropriate for other purposes. Any such forward-looking information may be identified by words such as "anticipated," "proposed, “” potential,” "expects," "intends," "may," "will" and similar expressions. Forward-looking information contained or referred to in this news 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 existing and planned products, and the Company's ability to achieve production and sales targets, generally.
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