ROCHESTER, N.Y., Sept. 20, 2021 (GLOBE NEWSWIRE) -- Document Security Systems, Inc. ("DSS" or the "Company") (NYSE American: DSS), a multinational company operating business segments in blockchain security, direct marketing, healthcare, consumer packaging, real estate, renewable energy, and securitized digital assets, today announced it is changing its name to DSS, Inc. The name change will become effective on September 30, 2021.
"Over the past two years, we have undergone sweeping change to our organizational structure, operating companies, and business plan," stated Frank D. Heuszel, CEO of DSS. "Today, document security products and services represent only a small fraction of our operations and continuing to operate under the Document Security Systems brand obfuscates the multiple high-growth business lines we have added, including healthcare, real estate, renewable energy, and securitized digital asset initiatives. We are excited to move forward under the new DSS, Inc. name to more accurately reflect our broad and increasingly diverse portfolio of current and future businesses."
"We have already witnessed successful outcomes from our investments into existing key scalable business lines which are driving top- and bottom-line improvements. The progress we are seeing with our new business model and expansive strategy should significantly accelerate these trends in the quarters ahead as we work to build DSS into a global multinational powerhouse," added Jason Grady, COO. "Our goal is to create and deliver long-term, sustainable shareholder value while simultaneously aligning resources to build a foundation for strategic high-growth opportunities. Through this rebranding, we believe we will be able to more clearly communicate our exciting and evolving story to our shareholders and the broader investment community."
About Document Security Systems, Inc.
DSS is a multinational company operating business segments in blockchain security, direct marketing, healthcare, consumer packaging, real estate, renewable energy, and securitized digital assets. Its business model is based on a distribution sharing system in which shareholders will receive shares in its subsidiaries as DSS strategically spins them out into IPOs. Its historic business revolves around counterfeit deterrent and authentication technologies, smart packaging, and consumer product engagement. DSS is led by its Chairman, Heng Fai Chan, a highly successful global business veteran of more than 40 years specializing in corporate transformation while managing risk. He has successfully restructured more than 35 corporations with a combined value of $25 billion.
For more information on DSS visit http://www.dsssecure.com.
Investor Contact:
Dave Gentry, CEO
RedChip Companies Inc.
407-491-4498
Dave@redchip.com
Safe Harbor Disclosure
This press release contains forward-looking statements that are made pursuant to the safe harbor provisions within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such forward-looking statements include, but are not limited to, statements related to the Company's intended use of proceeds and other statements that are not historical facts. Forward-looking statements are based on management's current expectations and are subject to risks and uncertainties that may cause actual results or events to differ materially from those projected. These risks and uncertainties, many of which are beyond our control, include: risks relating to our growth strategy; our ability to obtain, perform under and maintain financing and strategic agreements and relationships; risks relating to the results of development activities; our ability to attract, integrate and retain key personnel; our need for substantial additional funds; patent and intellectual property matters; competition; as well as other risks described in the section entitled "Risk Factors" in the prospectus and in our other filings with the SEC, including, without limitation, our reports on Forms 8-K and 10-Q, all of which can be obtained on the SEC website at www.sec.gov. Readers are cautioned not to place undue reliance on the forward-looking statements, which speak only as of the date on which they are made and reflect management's current estimates, projections, expectations and beliefs. We expressly disclaim any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in our expectations or any changes in events, conditions or circumstances on which any such statement is based, except as required by law.
