Financial Performance - Total revenue for the three months ended March 31, 2024, was $3,871,000, a decrease of 67.6% compared to $11,926,000 for the same period in 2023[12]. - Operating loss for the first quarter of 2024 was $4,680,000, compared to a loss of $5,580,000 in the first quarter of 2023, reflecting an improvement of 16.1%[12]. - Net loss attributable to DSS common stockholders for the three months ended March 31, 2024, was $4,072,000, compared to a net loss of $8,035,000 in the same period of 2023, representing a 49.3% reduction[12]. - The company reported a loss from continuing operations of $5,109,000 for the first quarter of 2024, an improvement from a loss of $8,633,000 in the same quarter of 2023[14]. - The Company reported a net loss from continuing operations of $5,109,000 for the three months ended March 31, 2024, compared to a net loss of $8,633,000 for the same period in 2023, indicating an improvement of approximately 40.5%[107]. Cash and Assets - Cash and cash equivalents increased to $9,252,000 as of March 31, 2024, up from $6,615,000 at the end of 2023, marking a 39.4% increase[10]. - Total assets decreased to $148,500,000 as of March 31, 2024, down from $153,192,000 at the end of 2023, a decline of 3.1%[10]. - Total identifiable assets as of March 31, 2024, were $148,500,000, compared to $226,750,000 as of March 31, 2023, reflecting a decrease of approximately 34.5%[107]. - The company has approximately $34,881,000 in total cash, cash equivalents, and marketable securities as of March 31, 2024, compared to $33,919,000 as of December 31, 2023[73]. Liabilities and Reserves - Total current liabilities increased to $56,213,000 as of March 31, 2024, compared to $55,611,000 at the end of 2023, an increase of 1.1%[10]. - The reserve for credit losses was approximately $2,492,000 as of March 31, 2024, slightly down from $2,494,000 on December 31, 2023[30]. - The company recorded a loan loss reserve of approximately $249,000 for the three months ended March 31, 2024, compared to $0 for the same period in 2023[77]. - The company has identified credit weaknesses in several borrowers, with reserves of approximately $2,884,000 for Borrower 1, $1,045,000 for Borrower 12, and $884,000 for Borrower 3 as of March 31, 2024[80]. Inventory and Operations - The company’s inventory increased to $3,627,000 as of March 31, 2024, compared to $2,819,000 at the end of 2023, reflecting a 28.7% increase[10]. - The inventory includes health and beauty products and is stated at the lower of cost or net realizable value, with an allowance for obsolescence of approximately $15,000 as of March 31, 2024[40]. - As of March 31, 2024, total inventory was $3,627,000, an increase from $2,819,000 as of December 31, 2023[58]. Business Segments - DSS operates nine distinct business lines, including Product Packaging, Biotechnology, and Commercial Lending, with some divisions discontinued in 2023[20]. - The Biotechnology division targets urgent medical needs and is developing initiatives to curb airborne infectious diseases[21]. - The Commercial Lending division focuses on acquiring equity positions in undervalued banks and nonbanking financial companies across multiple regions[21]. - The Securities and Investment Management segment includes the Company's real estate investment trusts (REIT) aimed at acquiring hospitals and care centers[21]. - The Product Packaging segment generated revenue of $3,080,000 in Q1 2024, down from $6,130,000 in Q1 2023, representing a decline of approximately 49.7%[107]. Investments and Acquisitions - The Company has assets held for sale, including retail space in Lindon, Utah, valued at approximately $5,593,000, and medical facilities associated with AMRE LifeCare and AMRE Winter Haven totaling approximately $45,966,000[42]. - Impact BioMedical acquired 4.99% of BioMed Technologies Asia Pacific Holdings Limited for approximately $632,000[87]. - The exclusive distribution agreement allows Impact BioMedical to distribute BioMed products in the US, Canada, Singapore, Malaysia, and South Korea for ten years[88]. - The LifeCare Agreement supports the acquisition of three medical facilities for a total purchase price of $62,000,000, with a loan amount of $40,300,000[93]. Financial Outlook - The Company believes it can continue as a going concern due to its ability to generate operating cash through the sale of $8.5 million of marketable securities and anticipated receipts of approximately $723,000 on notes receivable through December 31, 2024[51]. - The Company has approximately $9.3 million in cash and has incurred operating losses and negative cash flows from operating and investing activities over the past two years[50]. Miscellaneous - Heng Fai Ambrose Chan serves as Chairman of DSS, Inc. and is also on the board of directors of Borrower 10[115]. - No subsequent events requiring financial statement recognition or disclosure were noted through May 14, 2024[116].

Financial Performance - Premier Packaging division reported a 72% increase in revenues for Q1 2023 compared to Q1 2022[25]. - Premier Packaging Corporation, Inc. reported a net income increase of 126% year over year, driven by strategic investments and operational improvements[37]. - Premier Packaging's new 105,000 sq. ft. facility in Western New York contributed to nearly 3% year-over-year revenue growth for the segment[47]. - A contract extension signed in 2023 with an existing client is expected to generate approximately $12 million in revenue over the next three years[49]. - In 2023, one customer accounted for approximately 20% of consolidated revenue, while a second customer accounted for about 11%[82]. Loans and Lending - American Pacific Bancorp issued over $14 million in new loans and $4 million in renewal loans in 2023, maintaining a managed loan portfolio of over $22 million[19]. - The commercial lending segment manages a loan portfolio exceeding $6 million, earning 1.25% annually in service charges[63]. - The commercial lending division's managed loan portfolio exceeds $22 million, earning 1.25% annually in service charges[19]. - Since September 2021, American Pacific Bancorp, Inc. has issued nearly $26 million in new loans to a diverse portfolio of businesses[83]. Stock and Dividends - DSS plans to distribute approximately 280 million shares of Sharing Services Global Corporation to its stockholders, with each share of DSS Common Stock entitling holders to receive two shares of SHRG[24]. - DSS announced a special stock dividend distribution of four shares of Impact Biomedical, Inc. for every one share of DSS, with the distribution date set for August 8, 2023[27]. - The company emphasizes a decentralized sharing model to distribute dividends from potential IPOs directly to shareholders[45]. - A reverse stock split of 1-for-20 was authorized, effective January 8, 2024, to comply with NYSE American listing requirements[33]. Business Developments - DSS is preparing for an Initial Public Offering (IPO) of its subsidiary Impact Biomedical, Inc., following the distribution of shares to DSS shareholders[35]. - Impact Biomedical executed a reverse stock split of its common stock by a ratio of 1 for 55, approved by its majority stockholder[30]. - The Digital Transformation division was discontinued in 2023, having previously enhanced marketing and operational processes for mid-cap brands[21]. - The Alternative Energy division was also wound down in 2023, focusing on clean energy initiatives and utility-scale solar farms[26]. - Sharing Services Global Corporation focuses on enhancing shareholder value through business development and acquisitions, targeting the direct-to-consumer product marketing sector[71]. Product Development and Innovation - Impact BioMedical is focused on developing innovative solutions for neurological, oncological, and immuno-related diseases, with several products in development[66]. - Impact BioMedical established licensing agreements with ProPhase Biopharma, recognizing the potential value of its Linebacker compounds in the multi-billion-dollar range for cancer therapies[54]. - The biotechnology division has nine patents issued and over forty patents pending, with expiration dates for US patents ranging from 2029 to 2040[74]. - Impact BioMedical's business model includes licensing patented technologies to pharmaceutical companies and utilizing a global distribution model through its sister companies[67][68]. - The company is developing several key products, including LineBacker, Equivir, and Laetose, which is believed to lower human glycemic indexes by 30% compared to sugar[66]. Market Conditions and Challenges - Raw material costs and availability have improved in late 2023, with one vendor accounting for approximately 25% of paper and paperboard purchases[84]. - The biotechnology business faces potential government regulations that could negatively impact patent monetization efforts and revenue[88]. - Changes in U.S. patent laws could increase costs and uncertainties surrounding patent enforcement actions[89]. - The company has a commitment to ongoing internal improvement in sustainability practices, ensuring compliance with environmental protection laws[86]. Management and Strategy - The management team at DSS Wealth Management, Inc. was enhanced to foster investment excellence and scale assets under management[38]. - AmericaFirst Quantitative Funds improved performance against benchmarks for three of four mutual funds since the new investment advisory team took over in May 2023[58]. - The company plans to launch a Total Return Bond Fund in the first half of 2024 to capitalize on higher interest rates[38]. - The company plans to transition away from certain industries like direct marketing and focus on growing its inventory/equipment loan portfolio[19]. - Customer diversification improvements are expected to continue in 2024, enhancing the overall customer base[82]. Employee Relations - As of December 31, 2023, DSS, Inc. had 95 employees worldwide, with good relations maintained with employees[91].

NEW YORK, Jan. 30, 2024 (GLOBE NEWSWIRE) -- Impact Biomedical Inc. (IBIO), in which DSS Inc.(NYSE:DSS) has a significant investment, is thrilled to announce a milestone in its innovative Laetose™ technology platform. The U.S. Patent and Trademark Office (USPTO) has issued U.S. patent # 11,898,184, entitled "Low Glycemic Sugar Composition" developed within this platform. The Laetose™ technology demonstrates compelling potential in reducing caloric intake and glycemic index in foods, while also inhibiting tum ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 DSS, INC. (Exact name of registrant as specified in its charter) New York 16-1229730 (State or other Jurisdiction of incorporation- or Organization) (IRS Employer Identification No.) For the quarterly period ended September 30, 2023 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transiti ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ______to_______. 001-32146 Commission file number DSS, INC. (Exact name of registrant as specified in its charter) | New York | 16-1229730 | | --- | --- | | (State or other ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2023 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ______to_______ . 001-32146 Commission file number DSS, INC. (Exact name of registrant as specified in its charter) | | 16-1229730 | | --- | --- | | New York | | (State or ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2022 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _________ to __________ Commission file number 001-32146 DSS, INC. (Exact name of registrant as specified in its charter) New York 16-1229730 (State or other jurisdiction of ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2022 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ______to_______ . 001-32146 Commission file number DSS, INC. (Exact name of registrant as specified in its charter) | --- | --- | --- | |------------------------------- ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2022 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ______to_______ . 001-32146 Commission file number DSS, INC. | --- | --- | --- | |-----------------------------------------|------------------------------------------------- ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2022 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ______to_______ . 001-32146 Commission file number | --- | --- | |--------------------------------------------------------------------------------|-----------------------| ...