Detroit, Dec 21st, 2018, (PENNYSTOCKS.NEWS), the world’s leading provider of patented GPS Golf Tag on the course media system and management system, DSG Global, Inc. (OTC: $DSGT), declared its Q3 2018 outcomes for ended September 30, 2018.
The third quarter financial results:
- During Q3 2017, the revenues increased to $708,693 compared to $303,151, a 134 percent increase. During Q2 2018, from $237,0466 the revenue jumped 199 percent. As the result of installation and aggressive marketing of new infinity suite of the products, the sales increased.
- During Q3 2017, the gross profit improved from $182,079 to $682,872, a 275% increase. This was mainly from the cost of sales reduces because of manufacturing and supply efficiencies and the well-negotiated rates with the suppliers, exclusively our fresh worldwide wireless carrier T-Mobile.
- From operations, income increased from the loss of $317,484 to $114,885 during a comparable period of 2017.
- During Q3 2017, the remaining loss, primarily the non-cash events connected with the reconstructing and the elimination of debt, was $5,247,876 or.01 compared to a net loss of $809,264 or (.02).
- At the end of the previous quarter, the net cash increased from $15,999 to $55,166.
- Since, 30th June 2018, 187% of total assets increased.
- From the quarter ended, 30th June 2018, the total liabilities reduced 18%.
30thSeptember 2018, results for 9 months included:
- For 9 months ending 30 September 2017, sales increased from $975,623 to $1,056,905, an 8% increase.
- From $649,106 in 2017, the gross profit increased to $932,933, a 44% increase.
- Loss from the operations reduced from $1,256,796 to $772,528, a 39% increase.
The third quarter highlights included:
- Launch and the installation of first INFINITY XL suite of the products.
- Started the delivery of Fairway Rider G3 Golf Carts (“Raptor”)
- Considerable debt remediation so improving a balance sheet
- Entered into the arrangement with the world’s largest electronics company that is the global provider of services, products and the solutions to the manufacturing, industrial, and the commercial users of the electronic and enterprise the computing solutions. Our new INFINITY XL product line up will be shipping from their warehouse to adequately and properly place our products into the stream of commerce. This new method will eliminate the delivery delays, decrease the costs substantially, increase the install procedures, and provide the expressive warranty to the industry.
- From US government, received the Initial Purchase Order for the Delivery of 12 Raptor single rider Golf Carts.
- For the Patented GPS Management System, finalized Installations at the Multiple Municipal Golf Courses.
In Australia and New Zealand, since, ending of third quarter the company also declared the signing of the joint venture agreement to offer the golf course clients of GPS SYSTEMS INTERNATIONAL PTY LTD (GPSI). The aptitude to change their present Golf Pilot in-cart GPS with our new DSG Tag INFINITY system.
CEO DSG Global, Bob Silzerstated:
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