DSS (DSS) announced a letter to shareholders. "Our trailing 12-month revenues, as of the third quarter of 2022, have more than doubled from where we were at the end of 2021, and our total assets, now at nearly $265 million, have grown more than 1,000%, up from under $20 million, since we first embarked on transforming DSS just over three years ago in late 2019… For each acquisition we complete, we apply a three-stage development process to maximize value creation and provide the engine for growth through increased bandwidth, horsepower, and scale… Our Premier Packaging Corporation subsidiary provides a clear example of the second stage of our development process as it began operations at its new 105,000 sq. ft. facility in western New York in the first half of 2022. The increased production capacity at the new facility, which has enabled us to meet growing customer demand, was a key driver behind our nearly 19% year-over-year revenue growth for this segment in the most recently reported quarter… Impact BioMedical, the cornerstone of our BioHealth group, continued to progress on multiple fronts in 2022, including promising early testing results on new bioplastics, strengthened intellectual property protections, and licensing agreements with ProPhase Biopharma, a wholly owned subsidiary of ProPhase Labs (PRPH)… We continued to expand our medical real estate operations in 2022… The expansion of our medical real estate holdings is in part supported by our banking and financing business line, primarily through our majority-owned American Pacific Bancorp subsidiary… Looking ahead, as we prepare to file an S-1 for APB’s IPO in late 2023 or early 2024, we expect to expand our managed loan portfolio, which earns 1.5% annually in service charges, to more than $39 million…In the near-term, we anticipate new developments from our 70% ownership of USX Holdings Company, a joint venture collaboration with GSX Group Limited, and Coinstreet Partners…. We also expect the foundation laid for our DSS PureAir subsidiary, first launched in mid-2021, to gain significant new traction across the Asia Pacific region in the quarters ahead… Sharing Services Global, our 73%-owned Direct Sales and Marketing subsidiary, is currently in the process of being uplisted to Nasdaq which will provide us with the capital and market exposure to advance SHRG’s expansion… AmericaFirst Quantitative Funds, part of our DSS Wealth Management subsidiary, continued to generate net asset inflows in 2022 despite the negative market environment… Overall, I have tremendous confidence in the future of DSS, and I believe our best days are ahead of us. We remain steadfastly committed to new value creation and firmly believe we have laid the necessary foundation for years of future success."
Published first on TheFly
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