Sales for the fourth quarter of 2018 increased 246.5% to approximately $433,000
versus the same period last year
Sales for 2018 increased approximately 35.4% to $1.5 million
Reports change in independent auditor in advance of planned uplisting to a national exchange
Announces engagement of investment bank and investor relations firm
to assist with listing on national exchange
Surrey, British Columbia, April 02, 2019 (GLOBE NEWSWIRE) -- DSG GLOBAL INC. (OTC: DSGT; DSGTD), the world's leading provider of the patented GPS Golf TAG Management System and on-course media system, today provided a business update and reported preliminary sales results for the fourth quarter and year-ended 2018. Revenue for the three months ended December 31, 2018 increased approximately 246.5% to $433,000, compared to the same period last year. Revenue for 2018 increased approximately 35.4% to $1.5 million compared to 2017.
In addition, the Company announced it has appointed Buckley Dodd’s LLP as its new independent auditor. The Company did not have any disagreements with its prior audit firm. As a result of the Company’s change in independent auditor, it filed an extension of its Form 10-K, to provide additional time to complete the Company’s audit.
Bob Silzer, CEO of DSG Global, noted, “I am pleased to report we generated strong year-over-year growth for the fourth quarter and 2018. This continued growth reflects the traction we’re gaining within the marketplace. In particular, we are witnessing strong interest in the new INFINITY XL suite of products from potential customers around the world.”
“Given our progress, we have taken a series of steps to better position ourselves to list on a national stock exchange. We are pleased to announce the appointment of Buckley Dodd’s LLP as our new independent auditor. At the same time, we have engaged Joseph Gunnar & Co., a middle market investment bank based in New York, to assist with enhancing and simplifying our capital structure, in advance of our planned listing. We have also hired Crescendo Communications as our new investor relations firms. Given all the exciting developments at the Company, we look forward to being much more proactive in our communications and increasing awareness within the investment community.”
About DSG Global Inc. DSG Global Inc. (DSGT) provides patented electronic tracking systems and fleet management solutions to golf courses that allow for remote management of the course's fleet of golf carts, turf equipment and utility vehicles. Their clients use DSGT's unique technology to significantly reduce operational costs, increase safety, and enhance customer satisfaction. DSGT has grown to become a leader in the category of Fleet Management in the golf industry, with their technology installed in over 15,000 vehicles on more than 250 courses worldwide. DSGT is now aggressively branching into several new streams of revenue, through programmatic advertising, licensing and distribution. DSGT is also expanding into Commercial Fleet Management, and Agricultural applications. Additional information is available at http://www.vantage-tag.com.
Safe Harbor for Forward-Looking Statements
This press release contains forward-looking statements. Forward-looking statements in this press release include statements relating to the Company's corporate finance and other strategic initiatives, and the Company's expansion into markets outside of the golf industry. Forward-looking statements are inherently subject to risks and uncertainties which could cause actual results to differ materially from those in the forward-looking statements, including, without limitation, the following: the timing and nature of any capital raising transactions; our ability to offer products and services for use by customers in new markets outside of the golf industry; the risk of competition; our ability to find, recruit and retain personnel with knowledge and experience in selling products and services in these new markets; our ability to manage growth; and general market, economic and business conditions. Additional factors that could cause actual results to differ materially from those anticipated by our forward-looking statements are under the captions "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" in our Current Report on Form 8-K filed with the Securities and Exchange Commission on May 12, 2015. Forward-looking statements are made as of the date of this release, and we expressly disclaim any obligation or undertaking to update forward-looking statements.
Contact:
Crescendo Communications, LLC
Tel: 212-671-1021
Email: dsgt@crescendo-ir.com