InvestorNewsBreaks — DSG Global Inc. (DSGT) Releases Q3 Financial Report, Corporate Update
Nov 16, 2022
DSG Global (OTCQB: DSGT) has announced its financial numbers for the period ended Sept. 30, 2022. The report included revenue growth of 186% in the third quarter 2022, compared to the third quarter of 2021. According to the announcement, other highlights of the report included sales for Q3 2022 totaled $1,425,673, up significantly from the $498,380 reported in Q3 2021; gross profit for the quarter reached $472,832, compared to $271,928 for Q2 2021; total inventory decreased $247,575, a decrease resulting from installation and delivery of product during the quarter; and net loss of $2,370,834, or .02 earnings per share, compared to $1,948,678 for Q3 2021, an increase of 21.66%. The report also noted several operational highlights for the quarter, including the rebranding of the Imperium Motor Corp. to Liteborne Motor Corporation (“LMC”) and its electric Vehicle Aurium SEV; the announcement of Alan Wagner as the new CEO of Liteborne Motor Corporation; the delivery of Vantage Pro fleet electric golf carts to distributors in the United States and Australia; and the delivery and installation of GPS Tracking System including the Infinity 12. In addition, DSGT is preparing for the PGA Merchandise Show in Orlando in January 2023 and is anticipating a new Vantage Golf Cart line up that will feature the first Vantage V-Club Fleet Cart.
To view the full press release, visit https://ibn.fm/ZomR8
About DSG Global Inc.
DSG Global are pioneers in GPS Fleet Management Systems for the golf industry, having launched one the original GPS and wi-fi enabled platforms more than 25 years ago: GPS Industries, which would eventually be purchased by Club Car. The company released its own proprietary and patented GPS Fleet Management System under the Vantage TAG Systems (“VTS”) brand, a wholly owned subsidiary. The VTS system is modular, so the customer has the flexibility to build a completely customized solution depending on the requirements of the operation. The system can be implemented with or without a range of displays from the efficient TEXT to the high-definition INFINITY. For utility vehicles there is the TAG TURF.
Golf courses use VTS’s unique technology to significantly reduce operational costs, improve efficiency and profitability, and enhance the golfer’s experience. VTS has grown to become a leader in the category of fleet management in the golf industry. Since the VANTAGE brand is synonymous with advanced management for golf cart fleets, the natural progression is to produce a line of carts that are complementary. The line-up includes both consumer carts for individual purchase and fleet carts integrated with the VTS fleet management hardware and software to create a point of differentiation in the marketplace. VTS has launched the V-Club as its flagship product and is currently under trial with several influential golf courses and is aimed directly at the incumbent providers as a more cost-effective alternative. In early 2022, DSG Global acquired the worldwide rights to market the Shelby-designed golf carts and e-bikes named for the legendary American race car driver. The carts will be marketed to the rapidly growing and lucrative golf community market, such as the Villages in Florida, where personal golf carts are both the preferred means of transportation and a status symbol. For more information about the company, please visit www.DSGTGlobal.com.
NOTE TO INVESTORS: The latest news and updates relating to DSGT are available in the company’s newsroom at https://ibn.fm/DSGT
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