DSGT Continues to Build on 92% Growth During Q1 2022 with Breaking Sales through Q2

SURREY, British Columbia, June 28, 2022 (GLOBE NEWSWIRE) -- DSG Global, Inc. (OTCQB: DSGT) ("DSGT" or the "Company"), an emerging leader in the Electric Vehicles market including SUVs, Buses, and Golf Carts, is pleased to announce a very impressive First Half of 2022 in all Divisions.

DSG’s Golf Cart Division brings production and supply to North America. DSG is opening additional assembly line facilities in Florida and Arizona to fill the backlog of orders and keep up with the increase of future demand. The company will have the ability to assemble thousands of vehicles each quarter at these new locations. Vantage Pro’s vehicles are available for test drives and orders can be booked via the website www.vantage-tag.com.

Separately, DSG’s Shelby Golf Cart continues to see an increase in sales and demand. DSG is finalizing discussion with retail dealers in North America to start selling the onsite and allowing consumers the ability to purchase Shelby Product line through www.acgolfcarts.com. After the very successful launch of the Officially Licensed Shelby range of golf carts earlier this year DSG Global announced it has extended its agreement with Shelby to include global branding and distribution rights to the exiting new Shelby e-Bike which is scheduled to launch this year as well. The DSG Global Shelby e-Bike sticks to the successful Shelby formula of bold styling and high performance at an affordable price.

Here are some highlights from the Q1 Financials released on June 14, 2022:

  • Sales for Q1 2022 totaled $744,251 compared to $387,106 for Q1 2021, an increase of $357,145 or 92.2%. The increase was primarily the result of increased deliveries of the Infinity TAG System and Shelby golf carts.
  • Net Loss was $892,768 this 1st Quarter compared to $1,418,216 the 1st Quarter of 2021, a decrease of 62%. This was primarily the result of decreased expenses, including compensation.
  • The Company dramatically increased its backlog by signing a $4.2 million deal with Green Vehicles Australia and nearly $3 million in new Vantage TAG GPS Golf Course Fleet Management Orders

“We believe that we’ll see a sizeable uptrend in sales for the remainder of the year, especially during Q3 and Q4. With non-dilutive funding secured, we will be able to showcase the Infinity System, Vantage and Shelby electric golf carts and the new Shelby e-bikes. DSG continues to see growth in all aspects of its business and has collected approximately 1950 refundable deposits for the SEV, with most expected to be delivered during Q4 2022 and Q1 2023. Upon delivery, this would generate approximately $80 million in bookable revenue” said Robert Silzer, CEO of DSG Global.

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 Vantage and Shelby golf carts under the Vantage Tag Systems (VTS) brand, the Company is moving quickly with road-ready electric vehicles for sale in the last quarter of 2022 through IMC.

About Vantage Tag Systems

Vantage Tag Systems (VTS) provides patented electronic tracking systems and fleet management solutions to golf courses and other venues that allow for remote management of the course's fleet of golf carts, turf equipment and utility vehicles. Its clients use VTS' 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 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, Marshal single rider golf carts, Vantage Golf Cart line up and agricultural applications.

Additional information is available at www.vantage-tag.com/

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Brokers and Analysts: 
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