DSS Inc (DSS)

[Helter Skelter]

Gonna be over 500 million OS, they are going to raise the AS. $63,000,000 cash @ (average approximate) 21¢ per share...300 million shares for $63 million dollars payable over years, $30,000,000 cash to SHRG on definitive signing...I'm all for it, look for acquisitions soon...GLTY

On March 1, 2021, the Company and DSS executed a Binding Letter of Intent pursuant to which DSS agreed to loan the Company $30.0 million, subject to the parties entering into a definitive loan agreement (“Note”), in the form of a three-year, unsecured convertible promissory note in favor of DSS who, together with DSSI, is currently a major shareholder of the Company. All or part of the Note, including principal, other fees and interest can be converted into Company Common A shares. The note would be convertible at the rate of $0.20 and bear interest at the annual rate of 8%. As part of the consideration, DSS will be granted 150,000,000 detachable warrants for Common A shares that have a 5-year term and an exercise price of $0.22 per share. Additionally, DSS will be issued 27,000,000 Common A shares in payment of a 10% origination fee and in prepayment of one year of interest. Future interest payments are to be prepaid annually each year and may be paid in cash or Common A shares at the Company’s election. The Company anticipates Company shareholder approval will be required to increase the authorized shares of Common A to convert the Note and/or issue the detachable warrants. Borrowings under the note may be prepaid, at the option of the Company, without penalty after the first anniversary of the loan effective date. Proceeds from the loan are intended for general corporate purposes, including to fund the Company’s domestic and international growth initiatives.

Look under SHRG 10Q Subsequent Events section > https://www.sec.gov/Archives/edgar/data/1644488/000149315221005836/form10-q.htm