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Monday, October 26, 2020 1:00:08 PM
CEO Frankie states: “This was a truly transformational quarter for DSS with a $1.20 per share in net income from continuing operations and shareholder equity increasing nearly five-fold to $73.3 million,” stated Frank D. Heuszel, CEO of DSS.
FIRST, the company's core businesses suffered a nine-month OPERATING LOSS of $4.5 million, an INCREASE of over $2.3 million from the same nine months of 2019.
SECOND, It is only when you factor in the UNREALIZED paper gain of their "investment" in SHRG, you get a paper profit of $8.3 million, which is MUCH less now since SHRG has come down from $0.80 to $0.22. Although this investment may foreshadow future opportunities, it has ZERO to do with the company's revenue and income.
Simply put, the company DID NOT EARN $1.20 share from operating their businesses. It's an accounting shell game to say they did without strictly and overtly stating "including unrealized gain from marketable securities", particularly when you are touting earnings in a national press release
THIRD, The company is STILL hemorrhaging losses from operations, and they are STILL at a revenue run rate of less than $20 million since inception, and there's little to no new business/income from their core business units.
The release is very misleading in our opinion and gives shareholders and investors a false sense of growth and execution as their core businesses...WHAT THEY DO...are STILL not growing and are STILL suffering huge losses.
Recent DSS News
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