DCS Announces Financial and Operational Restructuring Updates
DCS Announces Financial and Operational Restructuring Updates
San Diego, California--(Newsfile Corp. - June 13, 2024) - Direct Communication Solutions, Inc. (OTCQX: DCSX) (CSE: DCSI) (FSE: 7QU0) ("DCS" or the "Company") a leading provider of information technology and managed solutions for the Internet of Things (IoT) market, is excited to announce it has made significant progress in executing on our strategic plan of transitioning to a Software as a Service ("SaaS") focused company. DCS restructured financial and operational obligations significantly, which will allow the company to focus on higher margin, long-term recurring revenue opportunities.
加利福尼亚州圣地亚哥 - (新闻稿 - 2024年6月13日) - 直接沟通解决方案公司(Direct Communication Solutions, Inc.) (OTCQX: DCSX) (CSE: DCSI) (FSE: 7QU0) ("DCS" 或“公司”是物联网(IoT)市场的信息技术和托管解决方案的主要提供商,非常高兴地宣布,公司已经取得了重大进展,推进了我们的策略计划,过渡为一家以软件即服务(SaaS)为中心的公司。DCS重组了财务和运营义务,这将使公司专注于高利润、长期的重复收入机会。
DCS is pleased to announce that the company has restructured a $6.1M financial obligation with one of our key suppliers. The supplier will forgive DSC 3M in overdue accounts payable; restructuring will reduce the debt by 47% and provide a 5-year term loan for the remaining $3.1M bearing 10% annual interest with no principal payment required for the duration of the loan term. DCS is required to do a minimum capital raise of $1M, which is in process. "Working with our partner to restructure this financial obligation will allow us to focus on growing the recurring revenue," said Chris Bursey, CEO. "I am humbled and honored that our partner recognized the value DCS brings to the IoT market. I look forward to continuing the long partnership in the future."
DCS很高兴地宣布,公司已经与我们的一个主要供应商重组了610万美元的财务义务。供应商将免除DCS 300万美元的过期应付款;重组将减少47%的债务,并提供一项为期5年、年利率为10%、无需在贷款期内偿还本金的贷款。DCS必须进行至少100万美元的最低资本筹集,并正在进行中。 "与我们的合作伙伴一起重组这项财务义务将使我们专注于增长重复收入," CEO Chris Bursey表示。 "我很荣幸,我们的合作伙伴认识到DCS在物联网市场中所带来的价值。我期待着在未来继续长期合作。"
During the first quarter of 2024, DCS restructured the company and significantly reduced costs and will continue to reduce costs as necessary to focus on the SaaS recurring revenues. DCS reduced overall operational cost reduction expenses by 30% in Q1 2024. These cost reduction measures were difficult, but necessary to get the company back to profitability and provide the value our shareholders expect. "Restructuring and cost reductions are never easy, but sometimes they are necessary for companies to execute on a strategy transition," said Bursey
在2024年第一季度,DCS重组了公司,并显著降低了成本,将继续降低成本,以便专注于软件即服务的重复收入。DCS在2024年第一季度将总体运营成本降低了30%。这些成本削减措施很困难,但是为了使公司回到盈利状态并提供股东所期望的价值,它们是必要的。"重组和成本削减从来不容易,但有时对于公司来执行策略转型是必要的。" Bursey表示
DCS will continue to reduce operational costs to create efficiencies as we continue to execute on our business strategy of transitioning to a SaaS solutions enabler and focus on creating value in the company by growing the recurring revenue. DCS is growing and positive updates show that our strategy is working as our recurring revenue grows, and most importantly, we have partners that recognize the value we have, and they support us long term.
DCS将继续降低运营成本,提高效率,并继续执行我们过渡为软件即服务的解决方案支持者的业务战略,专注于通过增加重复收入来创造价值。DCS正在增长,并且积极的更新表明我们的策略正在发挥作用,因为我们的重复收入正在增长,最重要的是,我们有合作伙伴认识到我们所拥有的价值,并且长期支持我们。
About DCS
关于DCS
DCS is a technology solutions integrator focusing on connecting the Internet of Things. We provide real solutions that solve real problems. Our software applications and scalable cloud services collect and assess business-critical data from all types of assets. DCS is headquartered in San Diego, California and is publicly traded on the OTCQX ("DCSX"), Canadian Securities Exchange ("DCSI") and Frankfurt Stock Exchange ("7QU0"). For more information, visit . DCS and the DCS logo are among the trademarks of DCS in the United States. Any other trademarks or trade names mentioned are the property of their respective owners.
DCS是一个技术解决方案集成商,专注于连接物联网。我们提供能够解决实际问题的真正解决方案。我们的软件应用程序和可扩展云服务从各种资产中收集和评估业务关键数据。DCS总部位于加利福尼亚州圣地亚哥,并在OTCQX("DCSX"),加拿大证券交易所("DCSI")和法兰克福证券交易所("7QU0")上公开交易。欲了解更多信息,请访问。DCS和DCS标志是DCS在美国的商标之一。提到的任何其他商标或商业名称均为其各自所有者的财产。
Contacts:
联系人:
Chris Bursey, CEO - DCS
cbursey@dcsbusiness.com
858-525-2483
DCS的首席执行官Chris Bursey
cbursey@dcsbusiness.com
858-525-2483
Julie Hajduk, CEO - Purple Crown Media
julie@purplecrown.ca
778-240-7077
紫皇冠传媒的CEO Julie Hajduk
julie@purplecrown.ca
778-240-7077
Forward-Looking Statements
前瞻性声明
This release contains forward-looking statements, which reflect management's current views of future events and operations. These statements are based on current expectations and assumptions that are subject to risks and uncertainties that could cause actual results to differ materially. We believe that these potential risks and uncertainties include, without limitation: the ongoing COVID-19 pandemic, the Company's dependence on third-party manufacturers, suppliers, technologies and infrastructure; risks related to intellectual property; industry risks including competition, online security, government regulation and global economic conditions; and the Company's financial position and need for additional funding, Statements in this release should be evaluated in light of these factors. These risk factors and other important factors that could affect our business and financial results are discussed in our Management's Discussion and Analysis, periodic reports and other public filings which are available on SEDAR at and posted with the OTC Disclosure and News Service. DCS undertakes no duty to update or revise any forward-looking statements.
此新闻稿含有前瞻性声明,反映管理层对未来事件和运营的当前看法。这些声明基于目前的期望和假设,并受制于风险和不确定性,可能导致实际结果与预期结果有所不同。我们相信,这些潜在的风险和不确定性包括但不限于:正在进行的COVID-19大流行,公司对第三方制造商、供应商、技术和基础设施的依赖;知识产权风险;行业风险包括竞争、在线安全性、政府监管和全球经济状况;以及公司的财务状况和需要额外筹资,本新闻稿中的声明应以这些因素为依据进行评估。这些风险因素和其他可能影响我们业务和财务业绩的重要因素已在我们的管理讨论与分析、定期报告和其他公共文件中进行了讨论,这些文件可在SEDAR上获取,并在OTC披露和新闻服务网站发布。DCS不承担更新或修订任何前瞻性声明的任何职责。
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
加拿大证券交易所及其监管服务提供商(如该术语在加拿大证券交易所的政策中定义)均不承担对本公告之充分性或准确性的责任。