NetworkNewsBreaks – DSG Global Inc. (DSGT) Annou
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Posted On: 07/26/2021 4:33:01 PM
NetworkNewsBreaks – DSG Global Inc. (DSGT) Announces Updated Strategy to Support Sales Growth Initiatives
DSG Global (OTCQB: DSGT) today announced the delay of its plan to complete a reverse stock split in connection with a potential listing on a national stock exchange. According to the update, the shareholder approval, as stated in the 14-C, will remain effective until March 2022. DSGT and its board of directors will delay the reverse split and instead seek to strengthen the company’s cash flow and balance sheet. The company is in negotiations to secure available debt (rather than equity) financing to bolster expansion, increase inventory and accelerate sales. “While the company is making significant progress on the business side, including diversifying our product lines and adding top tier talent, our board and management have agreed that the imminent prospect of a reverse split was not in our shareholders’ best interest in light of current market conditions,” said Bob Silzer, CEO of DSGT. “Therefore, we decided to delay the proposed reverse split until it becomes necessary. With all the positive developments and strong growth in sales we are currently experiencing, our board and management decided that securing debt financing and deferring a reverse split are favorable actions we can currently undertake. The company anticipates strong growth over the next several months.”
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
DSG Global (OTCQB: DSGT) today announced the delay of its plan to complete a reverse stock split in connection with a potential listing on a national stock exchange. According to the update, the shareholder approval, as stated in the 14-C, will remain effective until March 2022. DSGT and its board of directors will delay the reverse split and instead seek to strengthen the company’s cash flow and balance sheet. The company is in negotiations to secure available debt (rather than equity) financing to bolster expansion, increase inventory and accelerate sales. “While the company is making significant progress on the business side, including diversifying our product lines and adding top tier talent, our board and management have agreed that the imminent prospect of a reverse split was not in our shareholders’ best interest in light of current market conditions,” said Bob Silzer, CEO of DSGT. “Therefore, we decided to delay the proposed reverse split until it becomes necessary. With all the positive developments and strong growth in sales we are currently experiencing, our board and management decided that securing debt financing and deferring a reverse split are favorable actions we can currently undertake. The company anticipates strong growth over the next several months.”
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
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