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New DSS Management Continue to Crater Company and Destroy Shareholder Value
Almost every company in 2019 had a banner year in posting record revenue/earnings as the economy was exploding.
DSS, not so much.
These guys grinded for 12 months and managed to increase revenue by a whopping $149,000.
They also LOST $2,900,000 in the process.
Most likely, a 1-30 reverse split will be approved on May 3rd or they will get kicked off the NYSE.
So what you will have based on today's price is a post-reverse stock price of $5.60 (that will go lower, like they all do after a RS) that is losing ($3.30)/per share and burning more and more cash every month. Be prepared for ANOTHER capital raise, and another, and another. We figure the next one somewhere around $2.50/share (or $0.08 pre-split).
What a mess.
If you're tired of being run over by these guys, file a complaint with the NYSE/SEC. In our opinion, it appears that the company deliberately used the CV-19 catastrophe to pump the stock and allow the investors in their last 2 funding projects to get out. If you don't think they all parties involved knew exactly that this would be the plan, we can't help you. This was their big out. The target company doesn't even appear to be real, they haven't had activity in 2 years. This company has become a joke. I would not be surprised if a short was created to be filled by Chan's shares when they become free up in a few months.
NYSE Complaints: https://www.nyse.com/regulation/complaints-and-inquiries
Gotcha!! post #7585
"Why do I have this feeling that this company is so desperate that they are going to come out with some fictional Coronavirus news so that those that were made promises to can be lifted out of their stock???"
well done gentlemen. putting out a bullshit CV-19 press release cleaned out the last 2 funding buckets and left new flesh holding the bag. pathetic.
oh yea, how about that 1-40 reverse split that's coming.
hope there's no shortage of petroleum jelly, cause we know a bunch of shareholders that are gonna need it
Fake, fake, fake company.
Here, knock your socks off: http://www.impactbiomedical.com.
This is the exit plan for the last financing.
$50 million for this shell?? The day they start working on biohealth will be their first.
SEC, where are thou???
lol, so predictable. GUESS who owns Impact Biomedical???
YUP, one Mr. Chan. Impact is a vapor company, not even real, and they certainly don't have anything to do with Covid-19.
What a joke.
SINGAPORE eDEVELOPMENT LIMITED
(Incorporated in the Republic of Singapore)
(Company Registration No. 200916763W)
UPDATE ON SUBSIDIARIES OF THE GROUP
The Board of Directors (the “Board”) of Singapore eDevelopment Limited (the “Company” and together with its subsidiaries, the “Group”) refers to its announcement dated 18 November 2019 in relation to the incorporation of the new subsidiaries of the group–AMRE Asset Management, Inc. (the “AAMI”) and American Medical REIT Inc. (the “AMRE”). The Board is pleased to update shareholders on the completion of the signing of two agreements (the “Agreements”) between AMRE, a real estate advisory investment firm (the “Advisory firm”) and two investment banking houses in the United States.
Introduction
The Company has made good progressing the setting up of the corporate structure of AAMI and AMRE and have been working closely with the team to ensure good governance is in place. AMRE has since signed two agreements with an advisory firm and two investment banking houses in the United States in the effort to actively raise funds.
The Agreements
The first agreement was signed with an Advisory firm on 11 December 2019 for a period of six (6) months, with such term automatically extended on a month-to-month basis with the purpose of assisting AMRE to raise capital for its medical facilities platform. This would allow AMRE to access the advisory firm’s services and provide opportunities for AMRE to match with potential real estate capital providers. These capital providers could provide real estate equity, senior financing and/or subordinate/mezzanine financing to grow the Company. The advisory firm has extensive experience in providing customized capital and financial advisory solutions to real estate owners, investors and lenders. The second agreement was signed with two well-established investment banking houses in the United States on 3 February 2020 (the “Investment Banking Houses”). The Investment Banking Houses will act as lead underwriter and co-manager on a firm commitment basis to raise a minimum of USD $60 Million in connection with a proposed public offering by AMRE subject to the successful filing of the prospectus with the Securities and Exchange Commission and the completion of the Investment Banking Houses’ due diligence of AMRE and its affiliates.
Cautionary Statement
Shareholders and potential investors of the Company are advised to exercise caution when dealing or trading in the shares of the Company. Shareholders and potential investors should consult their stockbrokers, bank managers, solicitors or other professional advisers if they have any doubt about the actions they should take.
BY ORDER OF THE BOARD
Chan Heng Fai
Executive Director and Chief Executive Officer
6 February 2020
This is turning into an amazing game of Three Card Monte. It looks like DSS is just a trojan horse for all the deals that Chan has incubating. It almost seems like equity money laundering the way cash and warrants are being used.
Where's the money? Nope not here...nope not there, nope not here!
I'm not sure whether to be impressed or pissed!
So now DSS is in the business of funding medical real estate investments...we can't keep up with these guys. lol.
https://www.sec.gov/Archives/edgar/data/771999/000149315220003537/form8-k.htm
On March 3, 2020, Document Security Systems, Inc. (the “Company”) entered into a binding term sheet (the “Term Sheet”) with LiquidValue Asset Management Pte Ltd (“LVAM”), AMRE Asset Management Inc. (“AAMI”) and American Medical REIT Inc. (“AMRE”), regarding a share subscription and loan arrangement. The Term Sheet sets out the terms of a proposed joint venture to establish a medical real estate investment trust in the United States. Pursuant to the Term Sheet, the Company will subscribe for 5,250 ordinary shares of AAMI at a purchase price of $0.01 per share for total consideration of $52.50. Concurrently, AAMI will issue 2,500 shares to LVAM, and 1,250 shares to AMRE Tennessee, LLC, AMRE’s executive management’s holding company (collectively, the “Subscription Shares”). As a result, the Company will hold 52.5% of the outstanding shares of AAMI, with LVAM and AMRE Tennessee, LLC, holding 35% and 12.5% of the remaining outstanding shares of AAMI, respectively.
Further, pursuant to and in connection with the Term Sheet, on March 3, 2020, the Company entered into a Promissory Note with AMRE, pursuant to which AMRE will issue the Company a promissory note for the principal amount of $800,000.00 (the “Note”). The Note matures on March 3, 2022 and accrues interest at the rate of 8.0% per annum, and shall be payable in accordance with the terms set forth in the Note. Under the Note, AMRE may prepay or repay all or any portion of the Note at any time, without a premium or penalty. If not sooner prepaid, the entire unpaid principal balance of the Note including accrued interest will be due and payable in full on March 3, 2022. AMRE’s failure to pay any amount due on the Note within five days of when payment is due constitutes an event of default under the Note, pursuant to which the Company can declare the Note due and payable. The Note also provides the Company an option to provide AMRE an additional $800,000 on the same terms and conditions as the Note, including the issuance of warrants as described below.
As further incentive to enter into the Note, AMRE issued the Company warrants to purchase 160,000 shares of AMRE common stock (the “Warrants”). The Warrants have an exercise price of $5.00 per share, subject to adjustment as set forth in the Warrant, and expire on March 3, 2024. Pursuant to the Warrants, if AMRE files a registration statement with the Securities and Exchange Commission for an initial public offering (“IPO”) of AMRE’s common stock and the IPO price per share offered to the public is less than $10.00 per share, the exercise price of the Warrant shall be adjusted downward to 50% of the IPO price. The Warrant also grants piggyback registration rights to the Company as set forth in the Warrant.
I get it...you're a dreamer, and that's admirable. If you stay a shareholder in this company for long, that too will change.
Successful execution of your stated or any other business opportunity would be a first for this company.
Unlikely DSS would distribute for First Data, that would be redundant. If anything, Chan sets up an MLM network for Asia market and hawks the software that way. It's still a distribution model in a mature market which will bring even more headaches. Next up, healthy foods MLM initiative.
Let's keep any hopes of a significant keylogging opportunity in perspective. Keylogging software is certainly not a new product. A simple Google search will reveal 20-30+ different keystroke software companies, some free, some not and I'm sure some good and some that suck. As someone stated before, there's also the possibility that this type of defensive software becomes part of future Mac/MS operating systems.
I think its definitely a "spaghetti against the wall" business model at this point. I mean, c'mon, they've been doing the packaging and counterfeiting gig for the past 20 years with zero organic growth according to the SEC filings. We are still a long ways away from knowing what Chan wants to do with his new plaything. As a shareholder, its troubling that the company is being run from Hong Kong with no leadership or direction from the company itself.
Simple: The stock trading strategy called "flipping" is a method of churning out profits by not holding on to shares of stock long-term – in other words, short-term trading.
You missed the point, fictional CV news from DSS, not the world. I have that feeling because the current businesses appear to be afterthoughts. In doing some dep diving, IMO, Chan is going to turn this into one big MLM company, this will be a much different co. in 6 months. What that means to shareholders I have no idea. If he didn't know exactly what he was doing, he wouldn't be pushing his chips all in. We're just hostages for now.
Why do I have this feeling that this company is so desperate that they are going to come out with some fictional Coronavirus news so that those that were made promises to can be lifted out of their stock???
One Apple case is over:
On February 24, 2020, the Court in the case DSS Technology Management, Inc. v. Apple, Inc. entered the Final Judgment. The Final Judgment was based on the Court’s prior decision in which the Court denied DSSTM’s motion to amend infringement contentions and granted Apple’s motion to strike DSSTM’ joint expert report on infringement. DSSTM intends to appeal the Final Judgment.
But a new Apple case is started:
On November 20, 2019, DSS Technology Management was sued in the United States District Court, Northern District of California, by Intel Corporation (“Intel”) and Apple Inc. (“Apple”). The complaint includes allegations regarding a February 13, 2014 Investment Agreement between DSS Technology Management and Fortress Credit Co. LLC as well as two subsequent agreements. The complaint also contains allegations regarding DSS Technology Management’s lawsuit against Intel that was filed in February 2015 in the United States District Court, Eastern District of Texas (referred to below). In the complaint, Intel and Apple allege violations of Section 1 of the Sherman Act and unfair competition under Cal. Bus. & Prof. Code § 17200 against DSS Technology Management
Yes, I have a feeling that this is going to be one big petri dish for Chan's experiments. Or maybe they'll just raise money and piss it away for a business plan??? Baby gotta eat!
I thought I've seen everything, I mean, I've seen a lot. But this company and (I can't even call them management) its cash-eliminators are something to behold. Their total lack of transparency should be a case study on Corporate Miscarriage 101 at Wharton. How these guys are getting away with these down-round funding projects without saying a word is incredible. Where is the Horzel in all of this? The chairman of the board owns almost 40% of this company and not a word. This thing was trading over $1 in June and has shed $50 million in market capitalization (post-funding) and nothing. These guys have raised almost 12 MILLION dollars in less than a year...where did the money go??? We don't see new contracts, no new acquisitions, no spending on R&D ($0.00), no Super Bowl commercials. They have raised $12 million and the value of the company goes DOWN EIGHTY PERCENT. Is this ok? Can we get some help here? NYSE, SEC, anyone watching, anyone care??
From Yahoo Board: "I have never seen anything like this in my 30 years in Wall St, maybe I wasn’t looking close enough but everything that has transpired this far is a show of incompetence, almost embarrassing for the board of directors of this stock. I never have regretted buying shares in a company until now."
If these guys aren't investigated, then the regulators should just close up shop and go home, the Purge is upon us. We just can't believe that there could be this much blatant incompetency by an "executive team" and what appears to be manipulation while the board of directors just sits by and watches the destruction. This stock deserves to be on the pinks, at least there they are with their own.
Uh, oh. S-1 reduced by $2MM to $4MM. No surprise there...ran out of investors. The previous S-1 had $3.7MM going towards their new "direct marketing business", now only $2.4MM. The residual $1MM will go to salaries and filling the palms of "consultants".
"We estimate that at least $2.4 million of the net proceeds from this offering will be invested over the next 12 months into the direct marketing business line we are developing."
My guess is the keystroke software they invested in. Too bad there are 100 different companies offering the same technology. What they gonna do when the same software becomes part of the OS and MS/O
It's just incredulous that this company is throwing money at creating an MLM/DM business line and, it appears, intentionally abandoning its core business of anti-counterfeiting technology. What a mess.
IMO, this is just dead money for a while...maybe a LONG while. As stated before, if they even fill the S-1 it will double the outstanding shares from 36MM to 66MM. This trash fire can't support that market cap, not with you-know-who being involved. It's a shame that the investors who are choking on this at $0.45-$0.50 from the last placement weren't given reset protection, nobody cares....nobody. The other problem is that the street is laughing at these guys, there's no respect. Other than Chan (who I'm sure is regretting the day he met the gang) the girl scouts I bought cookies from last week have more business acumen than this gaggle of inexperienced seat-fillers. You won't find one institution that is even considering this symbol. Let's not even begin the reverse split conversation, which may not be too far away. Lastly, does anyone watch the trading on this thing? I've never seen so many trades of 100, 10, 5 and 1 shares on a $0.25 NYSE stock? how do you print a buy or sell for a trade of $0.50 or $1.00?? Somebody should really start paying attention. And, oh....good luck with the MLM thingy.
Welcome to 100% dilution. As these guys do, they buried a registration last friday evening to do a capital raise of $6MM. Assuming the pricing will be at $0.20 - $0.25, maybe lower, so get ready for another 30+ million shares. Just when we thougt they were out of tricks. Whats funny is in the filing, they said a use of proceeds, $3.5 million, over half, to be used to build their own direct marketing company. What a mess. Lemme guess, they're gonna be a reseller of someone's off-the-shelf cybersecurity software...lol, what an opportunity. once again us shareholders take it on the chin. The investors that bought at the last raise of $0.50, have to be pissed. according to seeking alpha these guys have 14 subsidiaries and absolutely no direction or leadership on how to run even one of them. Anyone know at what point do they get delisted to the OTC?
This is certainly not a positive for DSSTM. The fact that the judge "issued an order that denied DSSTM’s motion to amend its infringement contentions" and then "granted Apple’s motion to strike DSSTM’s infringement expert report" is a significant victory for the fruit. The judge has to also be aware that Intel and Apple are suing Fortress and DSSTM for frivolous lawsuits. If you include the potential of either party appealing, I think this is probably years away from being settled, much less surviving IMO, I think Fortress will eventually cut bait and go away. Fotress parent Softbank still stinging from the $5 billion loss from the WeWork fiasco and the potential gargantuan fees from fighting the upcoming Apple and Intel suit loom large. Next.
No lies here Kiddo, just opinions and facts as this platform intends to provide. Apologies if they do not align with your thoughts or opinions.
Also, imo, I wouldn't hold your breath on any lawsuit activity, Intel and Apple are suing Fortress, DSS Technology and some other firm for frivolous activity. This could go on for decades
C'mon, you guys can't figure this out?
On November 1st Chan bought 6 million shares of DSS for a total investment of $1.8 million to stave off the board take-over.
Last week DSS sends $1.8 million back to Chan.
Free shares with the bullet.
Mission accomplished!
Any one know why these guys are bailing ship?
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
On October 10, 2019, Brett L. Scott resigned as a member of the Board of Directors (“Board”) of Document Security Systems, Inc. (the “Company”). Mr. Scott did not resign from the Board as a result of any disagreement related to the Company’s operations, policies or practic
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
On October 1, 2019, Pamela Avallone and Stanley Grisham resigned as members of the Board of Directors (“Board”) of Document Security Systems, Inc. (the “Company”). Dr. Avallone and Mr. Grisham did not resign from the Board as a result of any disagreement related to the Company’s operations, policies or practices.