The DSG Global (OTCQB:DSGT) has emerged as one of the bigger gainers in the market in recent days and in such a situation, investors could do well to take a closer look at it. On Thursday, the DSG Global stock continued its upward move and rallied by as much as 61%, after having gained 100% in a week.
The company announced earlier this week that it had made an upgrade to the fleet management products that are deployed at Peninsula Sanitation Service Inc. It is a significant development because the services of Peninsular Sanitation Service are primarily used at the campus of the prestigious Stanford University.
Peninsula offers a range of services at Stanford University, which includes, trash bin and cart services, street sweeping, and cardboard dumpster services among others. The upgrade involved the installation of Tag Systems by DSG Global, which will help in tracking the movement of the fleet.
Patrick Parenti, who is the vice president of national sales at DSG Global, stated that the company believes that its fleet tracking software can be deployed in a range of industries. He went on to add that the Peninsula deal shows that its product is ‘highly sought after’.
While the Peninsula deal is important in itself, it should be noted that DSG Global signed another deal this week. This Tuesday, DSG Global announced that its fleet management software has been deployed in as many as 5 more golf courses.
The company’s patented tag and text system was installed at the Wolfbridge Gold Course, which is situated in Northern Minnesota.
The other gold courses include the Ironwood Gold Club in Indiana, Grey Eagle Golf Club in Indiana, Tulare Gold Club in California, and Penderbrook Golf Club in Virginia.
Next week, DSG Global expects to complete three more installations. Many clients are apparently interested in the company’s Infinity system and single-rider golf cars sold under the brand Pacer.
Stronger Financial Position
Last month DSG Global strengthened its financial position by paying off all the existing convertible notes that had become due. The notes could have been converted into common stock at a discounted rate by the holders.
Hence, the move has helped the company in preventing dilution of its stock. The company revealed that it is now going to work towards expanding its business now that it is not encumbered with ‘structural financing’ anymore.
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