DSS’s American Pacific Bancorp Approaches $20M in New Loans Issued
December 20 2021 - 9:10AM
DSS, Inc. (“DSS” or the “Company”) (NYSE American: DSS), a
multinational company with nine operating business lines in
diverse, high-growth industries, is pleased to announce its
American Pacific Bancorp, Inc. (“APB”) subsidiary has issued nearly
$20 million in new loans since September 2021.
“APB has assembled a strong and diversified loan
portfolio including commercial licensed medical real estate
financing, governmental bond anticipation note financing, C&I
inventory and equipment financing, and land development loans,”
stated Frank D. Heuszel, CEO of DSS. “Our third quarter investment
in APB has been very successful and has allowed us to continue our
reoccurring scalable business income model. We now have nearly half
of the fresh funds we injected generating interest and fee income
and we expect to have another $20 million loaned out in the
near-term as we build our portfolio of high-quality commercial
loans.”
DSS is the majority-owner of APB, holding more
than 50% of its outstanding shares of common stock. APB intends to
continue to develop and expand its lending platform to serve the
small to mid-size commercial borrower and to continue to acquire
equity positions of commercial banks in the US to develop its
lending network and to provide global banking services to clients
worldwide, including servicing markets with limited access to
traditional US banking services.
APB’s target customers are businesses with
annual revenues of $5 million to $50+ million, including
manufacturers, wholesalers, retailers, distributors, importers, and
service companies. APB has expertise in, and services tailored for,
specific industries, including beverage, food and agribusiness,
technology, healthcare, government, higher education, clean
technology, and environmental services.
About DSS, Inc.
DSS is a multinational company operating
business segments in blockchain security, direct marketing,
healthcare, consumer packaging, real estate, renewable energy,
securitized digital assets, securities trading and fund management,
and banking, lending, and finance. Its business model is based on a
distribution sharing system in which shareholders receive shares in
its subsidiaries as DSS strategically unlocks value through IPO
spin offs. Under new leadership since 2019, DSS has built the
necessary foundation for sustainable growth through the acquisition
and formation of a diversified portfolio of companies positioned to
drive profitability in five high-growth sectors. These companies
offer innovative, flexible, and real-world solutions that not only
meet customer needs, but create sustainable value and opportunity
for transformation.
For more information on DSS
visit http://www.dssworld.com.
Investor Contact:
Dave Gentry, CEORedChip Companies
Inc.407-491-4498Dave@redchip.com
Safe Harbor Disclosure
This press release contains forward-looking statements that are
made pursuant to 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 amended. Such
forward-looking statements include, but are not limited to,
statements related to the Company's intended use of proceeds 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 that may cause actual results or
events to differ materially from those projected. These risks and
uncertainties, many of which are beyond our control, include: risks
relating to our growth strategy; our ability to obtain, perform
under and maintain financing and strategic agreements and
relationships; risks relating 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 matters; competition; as well as other risks
described in the section entitled "Risk Factors" in the prospectus
and in our other filings with the SEC, including, without
limitation, our reports on Forms 8-K and 10-Q, all of which can be
obtained on the SEC website at www.sec.gov. Readers are cautioned
not to place undue reliance on the forward-looking statements,
which speak only as of the date on which they are made and reflect
management's current estimates, projections, expectations and
beliefs. We expressly disclaim any obligation or undertaking to
release publicly any updates or revisions to any forward-looking
statements contained herein to reflect any change in our
expectations or any changes in events, conditions or circumstances
on which any such statement is based, except as required by
law.
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