2022-06-28 | OTCQB:DSGT | Press release

SURREY, British Columbia, June 28, 2022 (GLOBE NEWSWIRE) — DSG Global, Inc. (OTCQB: DSGT) (“DSGT” or the “Company”), an emerging market leader in electric vehicles, including SUVs , Buses and Golf Carts, is pleased to report a very impressive first half of 2022 across all divisions.

DSG’s Golf Cart division is responsible for production and supply in North America. DSG is opening additional assembly line facilities in Florida and Arizona to fill backlog and meet increased future demand. The company will have the capacity to assemble thousands of vehicles each quarter at these new locations. Vantage Pro’s vehicles are available for test drives and orders can be reserved through the website www.vantage-tag.com.

Additionally, DSG’s Shelby golf cart continues to see an increase in sales and demand. DSG is finalizing discussions with retailers in North America to begin selling locally and allow consumers to purchase the Shelby product line through www.acgolfcarts.com. Following the highly successful launch of the officially licensed Shelby line of golf carts earlier this year, DSG Global has announced that it has extended its agreement with Shelby to include global branding and distribution rights for the new Shelby electric bike which will is expected to launch this year as well. The DSG Global Shelby e-bike sticks to the best-selling Shelby formula of bold styling and high performance at an affordable price.

Here are some highlights of the first quarter financial statements released on June 14, 2022:

  • Sales for Q1 2022 totaled $744,251 compared to $387,106 for Q1 2021, an increase of $357,145 or 92.2%. The increase is mainly due to higher shipments of the Infinity TAG system and Shelby golf carts.
  • The net loss was $892,768 this 1st quarter compared to $1,418,216 in the 1st quarter of 2021, a decrease of 62%. This is mainly explained by the decrease in expenses, including remuneration.
  • The company significantly increased its backlog by signing a $4.2 million deal with Green Vehicles Australia and nearly $3 million in new Vantage TAG GPS golf course fleet management orders

“We believe we will see a significant upward trend in sales for the remainder of the year, particularly in the third and fourth quarters. With non-dilutive funding secured, we will be able to introduce the Infinity System electric golf carts, Vantage and Shelby and the new Shelby e-bikes.DSG continues to experience growth in all aspects of its business and has collected approximately 1,950 refundable deposits for the SEV, with most due for delivery in Q4 2022 and Q1 2023 Upon delivery, this would generate approximately $80 million in bookable revenue&CloseCurlyDoubleQuote, said Robert Silzer, CEO of DSG Global.

About DSG Global

DSG Global is an emerging global technology company with an array of interconnected businesses in some of the fastest growing market sectors. With roots in the golf industry, where it specializes in fleet management with patented analytics, mobile touchscreen engagement, and Vantage and Shelby electric golf carts under the Vantage Tag Systems (VTS) brand, society is rapidly changing with road-ready electric vehicles. for sale in the last quarter of 2022 via IMC.

About Vantage Tag Systems

Vantage Tag Systems (VTS) provides patented electronic tracking systems and fleet management solutions to golf courses and other locations that enable remote fleet management of golf carts, turf equipment and utility vehicles ground. Its customers use VTS’s unique technology to significantly reduce operating costs, improve the efficiency and profitability of their fleet operations, increase safety and improve customer satisfaction. VTS has become a leader in the fleet management category in the golf industry, with its technology installed in vehicles around the world. VTS is now expanding into several new revenue streams through programmatic advertising, licensing and distribution, as well as expanding into commercial fleet management, Marshal individual golf carts, the Vantage golf and agricultural applications.

Additional information is available at www.vantage-tag.com/

Company Contact:

Brokers and analysts:

Chesapeake Group


[email protected]

Safe Harbor for forward-looking statements

This press release contains forward-looking information. These forward-looking statements or information are provided for the purpose of providing information about management’s current expectations and plans regarding the future. Readers are cautioned that reliance on this information may not be appropriate for other purposes. Any such forward-looking information can be identified by words such as “planned”, “proposed”, “expects”, “intends”, “may”, “will” and similar expressions. Forward-looking information contained or referred to in this press release includes, but is not limited to, the company’s ability to secure manufacturing facilities and supply chains, the benefits the company expects to derive from the products existing and planned; and the company’s ability to achieve production and sales targets, generally. Forward-looking statements or information are based on several factors and assumptions which were used to develop these statements and information, but which may prove to be incorrect. Although the Company believes that the expectations reflected in such forward-looking statements or information are reasonable, undue reliance should not be placed on any forward-looking statements as the Company cannot guarantee that such expectations will prove to be correct. Factors that could cause actual results to differ materially from those described in such forward-looking information include, but are not limited to: negative cash flows and future funding requirements to maintain operations, dilution, historical limited operations and revenues and no history of earnings or dividends, competition, economic changes, delays in the Company’s expansion plans, regulatory changes, and the impact and risks associated with the pandemic of ongoing COVID-19, including the risk of disruption to the Company’s facilities or its supply and distribution channels. The forward-looking information contained in this press release reflects the Company’s current expectations, assumptions and/or beliefs based on information currently available to the Company. Other factors that could cause actual results to differ materially from those anticipated by our forward-looking statements are described under “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations”. in our Annual Report on Form 10-K for Fiscal 2021 and our subsequent Quarterly Reports on Form 10-Q and Current Reports on Form 8-K, all filed with the Securities and Exchange Commission. Forward-looking statements are made as of the date of this release, and we expressly disclaim any obligation or undertaking to update any forward-looking statements. Forward-looking statements or information contained in this press release are expressly qualified by this cautionary statement.

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