ROCHESTER, NY, December 20, 2021 (GLOBE NEWSWIRE) – DSS, Inc. (“DSS” or the “Company”) (NYSE American: DSS), a multinational corporation with nine lines of business in various high growth industries , is pleased to announce that its subsidiary American Pacific Bancorp, Inc. (“APB”) has issued nearly $ 20 million in new loans since September 2021.
“APB has built a strong and diversified loan portfolio comprising commercially licensed medical real estate finance, government bond anticipation finance, C&I inventory and equipment finance, and land development loans,” said said Frank D. Heuszel, CEO of DSS. “Our third quarter investment in APB was very successful and allowed us to continue our scalable and recurring business income model. We now have almost half of the fresh funds we injected generating interest and commission income and we expect to have an additional $ 20 million loaned out in the short term as we build our portfolio of high quality commercial loans. .
DSS is the majority owner of APB, owning over 50% of its outstanding common shares. APB intends to continue to develop and expand its lending platform to serve small and medium-sized commercial borrowers and to continue to acquire stakes in commercial banks in the United States to expand its lending network and provide global banking services to customers around the world, including serving markets with limited access to traditional US banking services.
APB’s target customers are companies with annual sales between $ 5 million and $ 50 million, including manufacturers, wholesalers, retailers, distributors, importers and service companies. APB has expertise and services tailored to specific sectors, including beverages, food and agribusiness, technology, healthcare, government, higher education, clean technology, and environmental services.
About DSS, Inc.
DSS is a multinational corporation operating business segments in blockchain security, direct marketing, healthcare, consumer packaging, real estate, renewable energy, securitized digital assets, trading securities and fund management, as well as banking, lending and finance. Its business model is based on a distribution-sharing system in which shareholders receive shares from its subsidiaries, as DSS strategically unleashes value through IPO spin-offs. Under new leadership since 2019, DSS has laid the foundation for sustainable growth through the acquisition and formation of a diverse portfolio of companies positioned to drive profitability in five high growth industries. These companies offer innovative, flexible and tangible solutions that not only meet customer needs, but also create lasting value and opportunities for transformation.
For more information on DSS, visit http://www.dssworld.com.
Dave Gentry, CEO
RedChip Companies Inc.
Safe Harbor Disclosure
This press release contains forward-looking statements made in accordance with the safe harbor provisions within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as ‘fine. These forward-looking statements include, without limitation, statements relating to the company’s intended use of the products and other statements that are not historical facts. Forward-looking statements are based on management’s current expectations and are subject to risks and uncertainties which may cause actual results or events to differ materially from those anticipated. These risks and uncertainties, many of which are beyond our control, include: risks relating to our growth strategy; our ability to obtain, execute and maintain funding and strategic agreements and relationships; risks linked to the results of development activities; our ability to attract, integrate and retain key personnel; our need for substantial additional funds; patent and intellectual property issues; competetion; as well as other risks described in the section entitled “Risk Factors” in the Prospectus and in our other documents filed with the SEC, including, without limitation, our reports on Forms 8-K and 10-Q, which can all be obtained from the SEC’s website at www.sec.gov. Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date they are made and reflect management’s current estimates, projections, expectations and beliefs. We expressly disclaim any obligation or commitment to publicly release any update or revision to any forward-looking statement contained herein to reflect any change in our expectations or any change in the events, conditions or circumstances upon which such statement is based, unless required by law.