DSS, Inc. Files 2023 Annual Report on Form 10-K

TL;DR

<b>DSS, Inc. has filed its annual 10-K report for the fiscal year ended December 31, 2023, detailing its financial performance and business operations.</b>

AI Summary

DSS, INC. (DSS) filed a Annual Report (10-K) with the SEC on March 27, 2024. DSS, Inc. filed its 10-K report for the fiscal year ending December 31, 2023. The filing covers the period from January 1, 2023, to December 31, 2023. The company's principal business address is 275 Wiregrass Pkwy, West Henrietta, NY 14586. DSS, Inc. was formerly known as Document Security Systems Inc. The filing includes financial data for various segments such as Printed Products, Rental Revenue Income, and Direct Marketing.

Why It Matters

For investors and stakeholders tracking DSS, INC., this filing contains several important signals. This 10-K filing provides a comprehensive overview of DSS, Inc.'s financial health, operational performance, and strategic direction for the fiscal year 2023, which is crucial for investors to assess the company's current standing and future prospects. The detailed segment reporting within the 10-K allows stakeholders to understand the revenue contributions and performance of different business units, such as Printed Products and Rental Revenue Income, enabling a more granular analysis of the company's diversified operations.

Risk Assessment

Risk Level: medium — DSS, INC. shows moderate risk based on this filing. The company has a history of name changes and has filed a 10-K, indicating it is a public entity subject to regulatory scrutiny and reporting requirements, which implies a certain level of operational complexity and financial transparency.

Analyst Insight

Investors should review the detailed financial statements and risk factors in the 10-K to understand DSS, Inc.'s performance and potential challenges in the paperboard containers and boxes industry.

Revenue Breakdown

Key Numbers

• 2023-12-31 — Fiscal Year End (CONFORMED PERIOD OF REPORT)
• 2024-03-27 — Filing Date (FILED AS OF DATE)
• 2650 — Standard Industrial Classification (STANDARD INDUSTRIAL CLASSIFICATION: PAPERBOARD CONTAINERS & BOXES)
• NY — State of Incorporation (STATE OF INCORPORATION)

Key Players & Entities

• DSS, INC. (company) — FILER: COMPANY DATA: COMPANY CONFORMED NAME
• 20231231 (date) — CONFORMED PERIOD OF REPORT
• 20240327 (date) — FILED AS OF DATE
• 275 WIREGRASS PKWY (address) — BUSINESS ADDRESS: STREET 1
• WEST HENRIETTA (location) — BUSINESS ADDRESS: CITY
• NY (location) — BUSINESS ADDRESS: STATE
• 14586 (postal_code) — BUSINESS ADDRESS: ZIP
• DOCUMENT SECURITY SYSTEMS INC (company) — FORMER COMPANY: FORMER CONFORMED NAME

FAQ

Key Dates

• 2023-12-31: Fiscal Year End — Marks the end of the reporting period for the 10-K filing.
• 2024-03-27: 10-K Filing Date — Date the annual report was officially submitted to the SEC.

Key Financial Figures

• $0.02 — ch registered Common Stock, par value $0.02 per share DSS NYSE American LLC S
• $14 million — line. During 2023, APB issued more than $14 million in new loans, and over $4 million in re
• $4 million — than $14 million in new loans, and over $4 million in renewal loan to customers with stron
• $22 m — our managed loan portfolio of more than $22 million, which earns 1.25% annually in se
• $150M — mpanies that are seeking to raise under $150M USD, can pursue private placements, whi
• $15 Million — tension with Major Retailer Worth Up to $15 Million over Four Years. DSS, Inc. announced to
• $12 Million — next three years totaling a minimum of $12 Million with a fourth year extension option bri
• $0 — nding shares of common stock, par value $0.02, following authorization by its Boar
• $12 Million — rs with expected revenue to approximate $12 Million with a fourth-year extension. We are

Filing Documents

• form10-k.htm (10-K) — 1969KB
• ex4-1.htm (EX-4.1) — 12KB
• ex10-18.htm (EX-10.18) — 144KB
• ex10-53.htm (EX-10.53) — 76KB
• ex21-1.htm (EX-21.1) — 26KB
• ex23-2.htm (EX-23.2) — 10KB
• ex31-1.htm (EX-31.1) — 17KB
• ex31-2.htm (EX-31.2) — 17KB
• ex32-1.htm (EX-32.1) — 8KB
• ex32-2.htm (EX-32.2) — 8KB
• form10-k_002.jpg (GRAPHIC) — 10KB
• 0001493152-24-011519.txt (&nbsp;) — 10267KB
• dss-20231231.xsd (EX-101.SCH) — 86KB
• dss-20231231_cal.xml (EX-101.CAL) — 99KB
• dss-20231231_def.xml (EX-101.DEF) — 346KB
• dss-20231231_lab.xml (EX-101.LAB) — 631KB
• dss-20231231_pre.xml (EX-101.PRE) — 486KB
• form10-k_htm.xml (XML) — 1444KB

BUSINESS

BUSINESS 3 ITEM 1A

RISK FACTORS

RISK FACTORS 14 ITEM 1B UNRESOLVED STAFF COMMENTS 21 ITEM 1C CYBERSECUTIRY 21 ITEM 2

PROPERTIES

PROPERTIES 22 ITEM 3

LEGAL PROCEEDINGS

LEGAL PROCEEDINGS 22 ITEM 4 MINE SAFETY DISCLOSURES 23 PART II ITEM 5 MARKET FOR THE REGISTRANT'S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES 24 ITEM 6

SELECTED FINANCIAL DATA

SELECTED FINANCIAL DATA 25 ITEM 7

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS 25 ITEM 7A

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK 32 ITEM 8

FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA

FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA 33 ITEM 9 CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE 70 ITEM 9A

CONTROLS AND PROCEDURES

CONTROLS AND PROCEDURES 70 ITEM 9B OTHER INFORMATION 71 PART III ITEM 10 DIRECTORS, EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE 72 ITEM 11

EXECUTIVE COMPENSATION

EXECUTIVE COMPENSATION 82 ITEM 12

SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS

SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS 85 ITEM 13 CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS, AND DIRECTOR INDEPENDENCE 86 ITEM 14 PRINCIPAL ACCOUNTANT FEES AND SERVICES 90 PART IV ITEM 15 EXHIBITS AND FINANCIAL STATEMENT SCHEDULES 91 ITEM 16 FORM 10-K SUMMARY 93

SIGNATURES

SIGNATURES 94 2 PART I ITEM 1 - BUSINESS Overview DSS, Inc. (together with its consolidated subsidiaries (unless the context otherwise requires), referred to herein as "DSS," "we," "us," "our" or the "Company", currently operates five distinct business lines operate around the globe with primary operations in North America and Asia. The six divisions are: 1. Product Packaging, 2. Biotechnology, 3. Commercial Lending, 4. Securities and Investment Management, and 5. Alternative Trading, 6. Direct Marketing, Each of these business lines are in various stages of development, growth, and income generation. Due to these variations in the business cycle, including differences in revenue and assets acquired, the company is currently reporting financial information for five of these operating segments: 1. Product Packaging, 2. Commercial Lending, 3. Biotechnology, 4. Direct Marketing, and 5. Securities and Investment Management As the other divisions grow and start generating material operations and revenue, those operating segments will be added to our financial segmental reporting . Our divisions, their business lines, subsidiaries, and operating territories: 1. Product Packaging: The Company's consumer packaging and security printing business is led by its wholly owned subsidiary, Premier Packaging Corporation, Inc. ("Premier"), a New York corporation. Premier operates in the paper board and fiber based folding carton, consumer product packaging, and document security printing markets. It markets, manufactures, and sells sophisticated custom folding cartons, mailers, photo sleeves and complex 3-dimensional direct mail solutions. Premier is currently located in its new facility in Rochester, NY, and primarily serves the US market. 2. Biotechnology: ("Biotech") Biotechnology, a science-driven industry sector that uses living organisms and molecular biology to produce healthcare-related products, progressed on multiple fro

View Full Filing

View this 10-K filing on SEC EDGAR