Company Summary - DSS, Inc.

Overview

DSS, Inc. is a diversified, multi-industry company operating through five main business lines, with a focus on innovation, growth, and strategic acquisitions. The company is publicly traded on the NYSE American under the symbol "DSS."

Core Business Lines

1. Product Packaging

   • Operates through its wholly owned subsidiary, Premier Packaging Corporation.
   • Specializes in paperboard and fiber-based folding cartons, consumer product packaging, and document security printing.
   • Offers custom folding cartons, mailers, photo sleeves, and complex direct mail solutions.
   • Serves primarily the US market from a facility in Rochester, NY.

2. Biotechnology

   • Focuses on healthcare-related research and development.
   • Pursues development of a universal therapeutic drug platform, a sugar substitute, and multi-use fragrances.
   • Innovates in human healthcare, neurological, oncology, and immuno-related diseases.
   • Assets organized under DSS BioHealth Security, Inc.
   • Has received 9 patents and has over 40 pending patent applications.

3. Commercial Lending

   • Managed through American Pacific Financial, Inc. (APF).
   • Invests in undervalued banks, bank holding companies, and nonbanking financial companies across the US, Asia, and related regions.
   • Provides financial services such as business credit lines, land development financing, inventory loans, and broker/dealer loans.
   • Has issued nearly $26 million in loans since 2021.
   • Currently focusing on inventory/equipment loans and specialized financing sectors.

4. Securities and Investment Management

   • Includes broker-dealers (WestPark Capital, BMI Capital Investments, Sentinel Brokers), and an RIA managing DSS AmericaFirst Quantitative Funds.
   • Also manages a real estate investment trust (REIT) that develops, acquires, and leases healthcare facilities.
   • Investments include marketable securities, notably a 4% stake in Alset International Limited, with a fair value of approximately $2.52 million as of 2024.
   • Managed assets and operations in Houston, Chicago, Sacramento, Los Angeles, and New York.

5. Direct Marketing

   • Operates via Decentralized Sharing Systems, Inc.
   • Provides services in peer-to-peer decentralized sharing marketplaces.
   • Sells nutritional and personal care products across North America, Asia Pacific, Middle East, and Eastern Europe.
   • Uses a licensing model through its subsidiary HWH World, Inc.
   • Since May 2021, has engaged in strategic investments and acquisitions, including a significant purchase of shares in related entities.

Financial Highlights (2024)

• Revenue: Approximately $19.1 million (down 26% from $25.9 million in 2023)
  • Printed products sales: $16.1 million (13% decrease)
  • Securities income: $2.76 million (48% decrease)
  • Commercial lending: $226,000 (41% decrease)
  • Direct marketing: $0 (vs. $1.76 million in 2023, entirely discontinuing operations)
• Employees: 100 employees (as of December 31, 2024)
• Market Capitalization: As of June 30, 2024, the company's non-affiliate market value was approximately $3.19 million.
• Shareholders: 9,092,518 shares outstanding as of March 24, 2025.

Recent Major Transactions & Milestones

• Impact BioMedical's IPO on September 16, 2024, raising capital for biotech R&D.
• Chairman Heng Fai Ambrose Chan increased his shareholding by acquiring 672,173 shares.
• Appointed Jason Grady as Interim CEO in August 2024.
• Filed patents, notably for Laetose™ technology, a sugar substitute aimed at reducing glycemic load.
• Significant impairment charges recorded for biotech, real estate, and intangible assets, including an $25 million impairment of Impact BioMedical goodwill.
• Sold facilities and real estate assets, including the Lindon, Utah property for approximately $5.76 million.

Business Strategy

• Focus on expanding high-growth segments like Premier Packaging.
• Streamline operations and reduce costs (target 15-20% reduction in expenses).
• Grow technology and biotech innovation via R&D and strategic alliances.
• Prepare subsidiaries for IPOs to unlock shareholder value.
• Emphasize sustainability, new market exploration, and technological advancements.

This summary encapsulates DSS, Inc.'s core activities, business operations, current financial state, strategic initiatives, and recent milestones based exclusively on provided disclosures.