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DSG Global Inc. Files Form 10Q and Announces Financial Results for Q2 2021 Including Revenue Growth of 299% from Q2 2020

DSG GLOBAL INC (OTCQB:DSGT)

SURREY, BRITISH COLUMBIA, CANADA, August 16, 2021 /EINPresswire.com/ -- DSG Global, Inc. (OTCQB: DSGT) ("DSGT" or the "Company") is pleased announced today that it has filed its Form 10-Q for the quarter ended June 30, 2021, and announced financial results, including revenue growth of 299% in the second quarter of 2021, ended June 30, 2021, compared to the second quarter of 2020.

Second Quarter 2021 Financial Highlights
• Sales for Q2 2021 totaled $494,838 compared to $123,955 for Q2 2020, an increase of $370,883 or 299%. The increase was a result of new installations of
Infinity, Tag and Text GPS system. As of June 30, 2021, the Company had additional signed contracts which it is working to fulfill during Q3.
• Gross profit for Q2 2021 totaled $293,684, compared to $73,870 for Q2 2020, an increase of $219,814 or 299%. Gross Profit Margins for the quarter were
59.3% compared to 59.6% during Q2 2020.
• Total inventory increased $738,973, primarily the result of Electric vehicles delivered to Imperium Motors.
• Total Assets decreased from $2,434,354 on 3/31/21 to $2,042,050 on June 30, 2021. This was attributable to a decrease in cash as the company readies for
the launch and delivery of Electric Vehicles as well as increased inventory.
• Total Liabilities decreased from $2,051,843 to $1,964,074 during the quarter.
• Loss from operations for Q1 2021 amounted to $1,055,978 compared to $1,148,446 for Q2 2020, a decrease of 8.1%.
• Net Loss of $1,076,258 or .01 Earnings per Share compared to $3,166,895 for Q2 2020, a decrease of 66%.
• Share Count remained relatively constant, increasing from 110,639,913 upon the Q1 10Q filing to 120,495,186 as of August 13, 2021. This was primarily the
result of previously issued restricted stock for consultants whose shares had vested, and were converted, not newly issued shares.

Second Half 2021 Financial Highlights
• Sales for the first six months of 2021 totaled $881,944 compared to $274,167 for Q2 2020, an increase of $607,777 or 222%.
• Gross profit for Q2 2021 totaled $550,098 compared to $195,516 for Q2 2020, an increase of $354,582 or 181%.
• Total Assets decreased from $2,103,562 on 12/31/20 to $2,042,050 on June 30, 2021.
• Total Liabilities decreased from $2,912.745 to $1,964,074 during the quarter.
• Net Loss of $2,427,829 or .02 Earnings per Share compared to $6,124,854 for Q2 2020,
• As of June 30, 2021, the Company had signed contracts totaling over $1.8 million in gross sales, inclusive of recurring revenue. Due to delays related to
manufacturing and shipping, fulfilment was not yet satisfied and only $881,944 was recognizable as a revenue stream for the six months ended June
30, 2021

Second Quarter 2021 Operational Highlights
- Introduced and delivered to the United States new Electric Vehicle models and the new 12 Meter Class Bus
- Imperium Motor Corp. hire skilled industry executive Christian Dubois to help lead Global
Electric Vehicle sales.
- Imperium Motor Corp. build on successful Grand Opening with arrival of the Skywell 12 meter all electric City Bus and Terra Trucks
- Anticipating approval for 18.3 million Euro/$22 million USD Bus Contract
- Closed the Acquisition of MTG for integration of MTG’s customer base and multimillion dollar monthly sales flow into a new wholesale division

“We have set the foundation though personnel, partnerships and acquisitions to become a leader in the industry. We fully anticipate revenue increasing multiple fold each quarter in 2021 and for the foreseeable future. All segments of our business including the Infinity HD, 4G Tags, Pacer golf carts, E-Bikes and Electric Vehicles are growing. During the current quarter we expect to attend numerous trade shows in NA, identifying our EV dealer network, begin ramping EV sales and start delivering vehicles to end customers and dealers on a large scale during Q4 2021," said Robert Silzer, CEO of DSG Global, Inc.

About DSG Global
DSG Global is an emerging global technology company with an array of interconnecting businesses in some of the fastest growing market sectors. With roots in the golf industry in which it specializes in fleet management with patented analytics, mobile touch screen engagement and electric golf carts under the Vantage Tag Systems (VTS) brand, the company is moving quickly with road-ready electric vehicles for sale in the first quarter of 2021 through its Imperium Motor Company subsidiary.

About Vantage Tag Systems
Vantage Tag Systems (VTS) provides patented electronic tracking systems and fleet management solutions to golf courses and other avenues that allow for remote management of the course's fleet of golf carts, turf equipment and utility vehicles. Its clients use VTS's unique technology to significantly reduce operational costs, improve the efficiency plus profitability of their fleet operations, increase safety, and enhance customer satisfaction. VTS has grown to become a leader in the category of Fleet Management in the golf industry, with their technology installed in over vehicles worldwide. VTS is now branching into several new streams of revenue, through programmatic advertising, licensing, and distribution, as well as expanding into Commercial Fleet Management, PACER single rider golf carts, and Agricultural applications. Additional information is available at http://vantage-tag.com/

About Imperium Motor Company
Imperium Motor Company (IMC) is an EV sales and marketing company that offers a wide variety of affordable vehicles equipped for the North American market with emphasis on great design, a green mindset, performance, and functionality. Vehicles will include high speed, mid-speed, and low speed electric vehicles including cars, trucks, SUVs, vans, buses, and scooters. For additional information about Imperium Motors' product lines, please visit www.imperiummotorcompany.com.

Safe Harbor for Forward-Looking Statements
This news release contains forward-looking information. Such forward-looking statements or information are provided for the purpose of providing information about management's current expectations and plans relating to the future. Readers are cautioned that reliance on such information may not be appropriate for other purposes. Any such forward-looking information may be identified by words such as "anticipated", "proposed", "expects", "intends", "may", "will", and similar expressions.

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