SHRG - Document Security Systems invests additional $30M in Sharing Services

Document Security Systems (DSS) trades 4.3% higher premarket increased its investment in Sharing Services (SHRG) through a $30M convertible promissory note."This investment will help to accelerate Sharing Services sales and growth, as well as international expansion," chairman Chan Heng Fai commented."By significantly strengthening our investment in Sharing Services, we are confident in its ability to be a major player in the direct selling industry, providing it with the funds to exponentially increase its sales channels and substantially expand its product portfolio, positioning the company to rapidly scale sales in 2021 and beyond," CEO Frank D. Heuszel commented.Earlier to this convertible promissory note investment, DSS owned 37% of the outstanding shares of Sharing Services; Sharing Services generated $98.4M in revenue and $5.6M net income in the trailing 12-month period ended Sep. 30, 2020."Sharing Services is now in the expansion phase with a direct focus on the Asian markets, more specifically in countries such as South Korea, Japan, Hong Kong, China, Singapore, Taiwan, Thailand, Malaysia,

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Document Security Systems invests additional $30M in Sharing Services