DSS sees stock purchases by executive chairman Chan Heng Fai Ambrose totaling $999,999

Chan Heng Fai Ambrose, the Executive Chairman of DSS, Inc. (AMEX:DSS), and Alset Inc., a company he controls, have made significant stock purchases amid challenging market conditions. The stock has declined nearly 63% over the past year, with shares trading well below their 52-week high of $3.08. On December 10, 2024, Alset Inc. acquired 820,597 shares of DSS common stock, while Mr. Chan directly purchased an additional 205,149 shares. Both transactions were executed at $0.9749 per share, amounting to a total investment of approximately $999,999. InvestingPro analysis reveals the company's overall financial health score is currently rated as WEAK.

These acquisitions further solidify Mr. Chan's position as a major stakeholder in DSS, with a combined ownership totaling 5,148,664 shares. This includes holdings through various entities controlled by Mr. Chan, such as Heng Fai Holdings Limited, Alset Inc., Alset International Limited, and Global Biomedical Pte. Ltd. According to InvestingPro, the company faces several challenges, including weak gross profit margins and volatile stock performance. Subscribers can access 12 additional ProTips and comprehensive financial metrics to better understand DSS's market position.

In other recent news, New York-based DSS Inc. has seen a flurry of activity, including restating its 2023 financial results due to identified errors and changes in its executive leadership. The company's Audit Committee found inaccuracies in the financial statements filed in March 2024, which led to an overstated loss of approximately $23.5 million. These errors were related to a transaction involving Sharing Service Global Corporation (SHRG).

In addition to financial restatements, DSS Inc. announced a shift in its executive leadership with the appointment of Jason Grady as Interim CEO. This change comes as former CEO Frank D. Heuszel transitions to a leadership role at Impact Biomedical.

Furthermore, at its recent annual meeting, DSS shareholders elected seven directors to the board and ratified the appointment of Grassi & Co. Certified Public Accountants, P.C. as the company's independent registered public accounting firm for the fiscal year ending December 31, 2024. The compensation of the named executive officers was also approved on an advisory basis.

These recent developments are part of DSS Inc.'s ongoing evolution, with the company continuing to diversify its portfolio through strategic acquisitions and asset development. The information in this article is based on press releases from the company.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.