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Document Security Systems, Inc. (DSS)

NYSE American - Nasdaq Real Time Price. Currency in USD
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2.7300+0.1800 (+7.06%)
At close: 4:00PM EDT

2.7200 -0.01 (-0.37%)
After hours: 7:41PM EDT

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Previous Close2.5500
Open2.7000
Bid2.7000 x 900
Ask2.7400 x 900
Day's Range2.5850 - 2.7600
52 Week Range2.4500 - 10.5500
Volume495,894
Avg. Volume2,645,391
Market Cap75.539M
Beta (5Y Monthly)8.89
PE Ratio (TTM)8.72
EPS (TTM)0.3130
Earnings DateAug 12, 2021 - Aug 16, 2021
Forward Dividend & YieldN/A (N/A)
Ex-Dividend DateN/A
1y Target Est13.75
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  • DSS Sells its DSS Digital Division to Proof Authentication Corporation
    GlobeNewswire

    DSS Sells its DSS Digital Division to Proof Authentication Corporation

    Company focused on growing shareholder value through higher return opportunitiesROCHESTER, N.Y., May 11, 2021 (GLOBE NEWSWIRE) -- Document Security Systems, Inc. (“DSS” or the “Company”) (NYSE American: DSS), a multinational company operating businesses in blockchain security, direct marketing, healthcare, consumer packaging, real estate, renewable energy, and securitized digital assets, today announced Proof Authentication Corporation (“Proof”) signed a purchase agreement pursuant to which Proof acquired 100% of the outstanding shares of DSS Digital, Inc., a wholly-owned subsidiary of the Company and a leader in innovative anti-counterfeit, authentication, and brand protection solutions. “We set out on a mission to revive DSS and the sale of our legacy digital group is another major milestone in our transformation that will enable us to focus on new, higher-return opportunities to grow shareholder value,” stated Frank D. Heuszel, CEO of DSS. Under the terms of the agreement, DSS will retain and sell to certain key customers through a non-exclusive license granted by Proof to DSS, while continuing to use the innovative anti-counterfeiting technology on consumer packaging for authentication and consumer engagement purposes under the Company’s Premier Packaging Corp. division. The terms of the deal with Proof include upfront cash and an earn-out provision that provides for potential payments to DSS based on the achievement of certain revenue targets. Riparian Partners, LLC served as financial advisor to Proof, with Orrick serving as its legal counsel. Sichenzia Ross Ference LLP served as legal counsel to DSS. Jason Grady, COO of DSS, stated, “Proof has the experience and commitment to take our brand protection solutions, such as AuthentiGuard, to a new level, giving the market an even better product than we do today. DSS will benefit from Proof’s efforts as we continue to sell key accounts and incorporate technology advancements into Premier’s intelligent packaging solutions.” “Having worked in this space for over 15 years from the brand-side of the table, I can confidently say DSS has some of the best technology in the authentication market today. Consumers are more aware now than at any time in our history about the prevalence of counterfeit products in the market. They are clamoring for a way to ensure the products they are buying are real. This acquisition allows us to build on DSS’ innovations and further drive increased value to our client brands and their consumers around the globe,” added Dan McKinnon, CEO of Proof. AuthentiGuard is comprised of three key components that work together to secure brands. Developed from patented Prism technology and printed on products during normal printing processes, the AuthentiGuard mark cannot be duplicated or copied, and it contains embedded codes that hold limitless amounts of information. The AuthentiGuard application, customizable in functionality, look and feel, reads the encrypted information to determine authenticity and deliver alerts and information directly to users. Brands also have access to an online portal to manage their program and view real-time data collected from the application reads. “While our digital group has been a great business for DSS over the years, we have moved in a different direction, investing in new growth opportunities within healthcare, renewable energy, and other emerging technologies that we believe present tremendous potential upside for our shareholders,” continued Heuszel. “We are excited for what the future holds for our innovate distribution sharing system business model.” About Proof Authentication Corporation Proof is a technology sector company that engineers the world’s premier anticounterfeiting authentication solutions. Proof is founded on the cornerstone principle that effective authentication technologies must always be both accurate and ubiquitous. The company is helmed by Dan McKinnon, former Head of Global Brand Protection for athletic giant, New Balance, and most notably known for achieving the world’s largest counterfeit damages award in China. For more information on Proof, visit: www.proofauthentication.com About Document Security Systems, Inc. DSS is a multinational company operating businesses focused on blockchain security, direct marketing, healthcare, consumer packaging, real estate, and securitized digital assets. Its business model is based on a distribution sharing system in which shareholders will receive shares in its subsidiaries as DSS strategically spins them out into IPOs. Its historic business revolves around counterfeit deterrent and authentication technologies, smart packaging, and consumer product engagement. DSS is led by its Chairman and largest shareholder, Mr. Fai Chan, a highly successful global business veteran of more than 40 years specializing in corporate transformation while managing risk. He has successfully restructured more than 35 corporations with a combined value of $25 billion. For more information on DSS visit http://www.dsssecure.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.

  • DSS’s Premier Packaging Subsidiary Expands Operations with New 105,000 Sq. Ft. Facility to Meet Growing Customer Demand
    GlobeNewswire

    DSS’s Premier Packaging Subsidiary Expands Operations with New 105,000 Sq. Ft. Facility to Meet Growing Customer Demand

    Premier expects to receive up to $700K in state tax credits to support the moveROCHESTER, N.Y., April 21, 2021 (GLOBE NEWSWIRE) -- Document Security Systems, Inc. (“DSS” or the “Company”) (NYSE American: DSS), a multinational company operating businesses in consumer packaging, brand protection technology, blockchain security, direct marketing, healthcare, real estate, renewable energy, and securitized digital assets, today announced its wholly owned subsidiary, Premier Packaging Corporation (“Premier”), will move its operations into a new 105,000 square-foot facility to meet growing customer demand. Premier expects to be operational in the new space, located in the Town of Henrietta, NY, approximately 15 miles from its current operations in Victor, NY, by the end of 2021. For over 25 years, Premier has been a market leader in providing solutions for paperboard packaging from heavy mailing envelops and photo sleeves, to sophisticated custom folding cartons and complex 3-dimensional direct mail solutions. Premier’s innovative designs deliver functionality, marketability, sustainability, and anti-counterfeiting technology. Since taking over in July 2019, the DSS management team has accelerated the transformation of Premier’s operations, investing in new manufacturing equipment, people, and processes to increase its capacity, improve quality and delivery, and ensure it has the horsepower it needs to support its growing customer base and their evolving demands. “Premier’s continued success is the result of our team’s dedication and commitment to quality and customer care. Leading with this customer-centric approach has paved the way for expansion through new business opportunities and continues to strengthen our organization’s culture. We look forward to the next phase of expanding and investing in our products, service, and team,” said Premier President and DSS Chief Operating Officer, Jason Grady. “We are grateful to Empire State Development (“ESD”), Greater Rochester Enterprise, and New York Power Authority for providing Premier with an opportunity to advance our business. As a multinational company we had several options when considering a new location, but with the help of ESD and New York State, we are able to continue to call this area home. The Upstate NY and Finger Lakes region is an ideal place for us to operate our business, service our customer base, and further expand our offerings,” continued Grady. ESD is assisting Premier by providing up to $700,000 in Excelsior Tax Credits in exchange for job creation commitments, with additional assistance commitments to support continued growth from Monroe County and Greater Rochester Enterprise. Todd Macko, interim-CFO of DSS, stated, “This is a key move to support the continued growth and market leadership of Premier. The added benefits of tax credits and other incentives make this an economically advantaged deal as well.” “We continue to build on our momentum amidst growing customer demand,” added Bruce Stratton, VP of Operations at Premier. “We will be able to increase staffing by more than 50% when we begin operations at the new facility later this year. With greater access to major interstates nearby and a closer proximity to the strong Rochester workforce, the new manufacturing operation is well suited to support our aggressive growth plans.” About Premier Packaging CorporationFor over 25 years Premier has been a market leader in providing innovative and secure solutions for printing and packaging. Premier is the Packaging, Security and Commercial Printing division of DSS. With operations based in Victor, NY (moving to Henrietta, NY) and nationwide distribution, Premier services a variety of both nationally and regionally based customers. Premier’s client list includes customers in the direct marketing, medical device, consumer goods, photo marketing and food industries. Premier differentiates itself by being a full service, end-to-end solution provider that is large enough to be a complete resource to its largest clients while still remaining nimble enough to react to ever changing market and customer demands when necessary. For more information, visit https://www.dsssecure.com/packaging/index.html. About Document Security Systems, Inc. DSS is a multinational company operating businesses focused on brand protection technology, blockchain security, direct marketing, healthcare, real estate, and securitized digital assets. Its business model is based on a distribution sharing system in which shareholders will receive shares in its subsidiaries as DSS strategically spins them out into IPOs. Its historic business revolves around counterfeit deterrent and authentication technologies, smart packaging, and consumer product engagement. DSS is led by its Chairman and largest shareholder, Mr. Fai Chan, a highly successful global business veteran of more than 40 years specializing in corporate transformation while managing risk. He has successfully restructured more than 35 corporations with a combined value of $25 billion. For more information on DSS visit http://www.dsssecure.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.

  • DSS Expands its Healthcare Segment through Investment in Vivacitas Oncology
    GlobeNewswire

    DSS Expands its Healthcare Segment through Investment in Vivacitas Oncology

    ROCHESTER, N.Y., April 08, 2021 (GLOBE NEWSWIRE) -- Document Security Systems, Inc. (“DSS” or the “Company”) (NYSE American: DSS), a multinational company operating businesses focusing on brand protection technology, blockchain security, direct marketing, healthcare, real estate, and securitized digital assets, today announced DSS Biomedical International, Inc. (“DSS Biomedical”), a subsidiary of Impact BioMedical, Inc., a wholly owned subsidiary of the Company, completed an equity investment in Vivacitas Oncology, Inc. (“Vivacitas”), a clinical-stage company focused on difficult to treat cancers. Vivacitas was co-founded in 2015 by Dr. Joseph Rubinfeld and Infusion51a with an eye toward redesigning well-known chemotherapies that have already been demonstrated to have beneficial effects, but which may also possess potency, toxicity, stability, and/or pharmacokinetic issues that limit their use. To this end, Vivacitas has been laser-focused on acquiring its three pipeline assets, made possible by leveraging the robust professional network that Dr. Rubinfeld fostered over a lifetime in the industry. As a result, Vivacitas was able to complete the acquisitions of its three major programs within a 12-month period. Contributing to the impressive asset acquisition track record is Vivacitas' partnership with International Infusion Advisors, LLC via its investment arm, Infusion 51A, a relationship that is anchored in a common mission - to develop disruptive technologies aimed at improving the quality of life of cancer patients. Vivacitas' assets are organized into two separate, yet related platforms: a development platform centered around advancing next-generation Camptothecins in various cancers, and an innovation platform focused on applying new formulations and modified chemistries to compounds to potentially improve tolerability and efficacy. “Impact BioMedical continues to demonstrate its commitment to addressing unmet needs in human healthcare and wellness,” stated Frank D. Heuszel, CEO of DSS. “With a rich pipeline of promising assets, Vivacitas provides significant upside potential.” Jeffrey Stephens, Founder, Chief Investment Officer, and Director of Infusion51a and a Vivacitas Oncology Director, said, “Vivacitas Oncology is delighted to welcome Impact BioMedical as a new investor and contributor to our efforts to develop new treatment options for cancer patients.” As part of its equity investment in Vivacitas, DSS Biomedical received the right to appoint two members to the board of directors of Vivacitas. Separately, DSS Biomedical acquired Impact Oncology Pte Ltd (“Impact Oncology”) from Alset EHome International Limited, Inc. The principal assets of Impact Oncology consist of equity in Vivacitas. The Chairman of DSS is also the Chairman of Alset EHome International. About Impact BioMedical, Inc.Impact BioMedical, Inc. ("Impact BioMedical") is a wholly owned subsidiary of DSS and a unique technology source, developer, and business partner in addressing unmet needs in human healthcare and wellness. For more information on Impact BioMedical visit http://impbio.com/. About Document Security Systems, Inc. DSS is a multinational company operating businesses focused on brand protection technology, blockchain security, direct marketing, healthcare, real estate, and securitized digital assets. Its business model is based on a distribution sharing system in which shareholders will receive shares in its subsidiaries as DSS strategically spins them out into IPOs. Its historic business revolves around counterfeit deterrent and authentication technologies, smart packaging, and consumer product engagement. DSS is led by its Chairman and largest shareholder, Mr. Fai Chan, a highly successful global business veteran of more than 40 years specializing in corporate transformation while managing risk. He has successfully restructured more than 35 corporations with a combined value of $25 billion. For more information on DSS visit http://www.dsssecure.com.Investor Contact:Dave Gentry, CEORedChip Companies Inc.407-491-4498Dave@redchip.com About Vivacitas Oncology, Inc. A privately held biopharmaceutical company co-founded in 2015 by Dr. Joseph Rubinfeld and Infusion 51a, LP. Vivacitas is focused on acquiring mid-to-late-stage oncology assets with the goal to make the chemotherapy more effective for patients. For further information please visit www.vivaoncology.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.