Company Expects Revenue to Triple
Surrey, British Columbia, July 26, 2018 (GLOBE NEWSWIRE) -- DSG Global Inc. (DSGT), the world's leading provider of the patented GPS golf TAG management and on-course media system, announces projections for the next twelve months.
“During 2017 and beginning of 2018, the company had manufacturing and production issues which caused revenue to fall. We refused to deliver an inferior system, so we stopped sales and installations while we rectified this problem. We identified and partnered with two new manufacturers that share our vision and assisted in the development of the new 3G patented TAG and suite of the 12”, 10.2”, and 7” HD INFINITY products. They are strong partners helping us resolve the previous issues with the new product lineup that is the best on the market today. Now, as we go into mass production with worldwide installations and new sales in hand, we are excited seeing the acceptance in the industry and therefore having expectations of sizeable growth moving forward. We have begun installations of the new products and expect to rapidly accelerate this pace by placing nearly 1000 systems over the next 90 days,” stated Robert Silzer Sr., CEO of DSG Global Inc.
“During 2017 we achieved approximately $1 million in revenue and that number declined further during Q1 2018. Now with proper manufacturing, production and distribution in place, we expect to achieve over $3 million in profitable revenue during the second half of 2018 and the first half of 2019, with the possibility of significantly more sales as interest continues to increase,” continued Silzer.
About DSG Global Inc.
DSG Global Inc. (DSGT) is one of the new breed of Software-as-a-Service (SaaS) companies that are dominating the IT industry. DSGT provides electronic tracking systems fleet management solutions and mobile digital data for players. Our clients are using DSGT’s patented technology to significantly reduce costs, increase safety and enhance customer satisfaction. DSGT has historically focused on the golf industry, where golf course operators manage their fleet of golf carts, turf equipment, and utility vehicles remotely using DSGT’s SaaS Technology. DSGT is now addressing the PACE OF PLAY problems that exist on golf courses today and introducing the NEW ELECTRIC SINGLE FAIRWAY RIDER G3 to the golf industry. The new Fairway Rider G3 will be equipped with the patented DSG TAG for tracking and the new 7” INFINITY LITE. DSGT is also aggressively branching into several revenue streams, through programmatic advertising, licensing, distribution, commercial fleet management and agricultural applications.
Safe Harbor for Forward-Looking Statements
This press release contains forward-looking statements. Forward looking statements in this press release include statements relating to the Company’s corporate finance and other strategic initiatives, and the Company’s expansion into markets outside of the golf industry. Forward-looking statements are inherently subject to risks and uncertainties which could cause actual results to differ materially from those in the forward-looking statements, including, without limitation, the following: the timing and nature of any capital raising transactions; our ability to offer products and services for use by customers in new markets outside of the golf industry; our ability to enter into contracts with golf courses for the Fairway Rider G3 or any revenue that may be generated therefrom; the risk of competition; our ability to find, recruit and retain personnel with knowledge and experience in selling products and services in these new markets; our ability to manage growth; and general market, economic and business conditions. Additional factors that could cause actual results to differ materially from those anticipated by our forward-looking statements are under the captions “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in our filings 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 forward-looking statements.