DSS, INC.

Listed Company

DSSCIK 0000771999NYSENon-AcceleratedSmaller ReportingPaperboard Containers & BoxesNew YorkFY ends Dec 31

Period

FY 2025

Revenue

$20.76M

Net Income

$-23.93M

Total Assets

$67.63M

Equity

$-832.0K

Shares Out

9.99M

Op. Cash Flow

$-9.13M

Business

DSS, INC. operates as a diversified holding company that develops, acquires and manages businesses across packaging, biotechnology, lending, securities and direct marketing. It offers consumer paperboard folding cartons, security printing and related printed materials; biotechnology research, patents and product development (including Laetose and other compounds); commercial lending and bank/finance-related services; broker-dealer, RIA and REIT management; and direct marketing of nutritional and personal care products. Its reported operating segments are Product Packaging, Biotechnology, Commercial Lending, Securities and Investment Management, and Direct Marketing. The company markets and distributes primarily in North America and Asia and sells through direct sales, licensing and partner networks, broker-dealers, mutual funds, REIT structures and gig‑economy channels across North America, Asia Pacific, Middle East and Eastern Europe.

Summary from filing dated 2025-03-31

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Total revenue	21	19	26	47	20
Cost of revenue	23	24	25	40	—
Selling, general and administrative (including stock-based compensation)	12	38	51	54	27
Total costs and expenses	35	62	77	94	44
Operating loss	−14	−43	−51	−46	−24
Interest income	19,000	238,000	1	629,000	5
Interest income on note receivable, related party	32,000	102,000	171,000	—	—
Dividend income	20,000	—	16,000	159,000	—
Other	11,000	218,000	532,000	4	825,000
Interest expense	−266,000	−283,000	−553,000	−126,000	−196,000
Foreign Currency Translation Adjustment	—	−6,000	—	—	—
Gain on extinguishment of debt	595,000	—	—	110,000	116,000
(Loss)/gain on equity method investment	−16,000	1,000	−34,000	129,000	−10
(Loss) gain on investments	−807,000	224,000	−5	−11	−12
Impairment of investment	—	−782,000	—	—	—
Impairment of intangible assets	−600,000	—	−7	—	—
Impairment of real estate assets	−2	−7	—	—	—
Provision for loan losses	—	−4	−4	—	—
(Loss)/gain on sale real estate assets	−10	165,000	−1	—	—
Loss from operations before income taxes	−27	−54	−74	−69	−40
Income tax benefit	—	−8,000	−4,000	−172,000	4
Net loss	−27	−54	−78	−70	−34
Loss from operations attributed to noncontrolling interest	4	7	17	10	921,000
Net loss attributable to DSS common stockholders	−24	−47	−61	−60	−33
Basic	−2.66	−6.63	−0.47	—	—
Diluted	−2.66	−6.63	−0.47	—	—
Basic (shares)	9	7	7	6	52
Diluted (shares)	9	8	7	6	52

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2023 2023-06-30	FY 2022 2022-12-31
Cash and cash equivalents	6	11	7	—	19
Restricted cash	100,000	—	—	—	—
Accounts receivable, net	2	3	4	—	8
Inventory	2	2	3	—	8
Investment in trading securities	3	3	—	—	—
Assets held for sale	—	45	—	—	—
Prepaid expenses and other current assets	649,000	1	839,000	—	2
Total current assets	14	67	75	—	48
Property, plant and equipment, net	5	5	6	—	13
Investments in real estate, net	17	—	—	—	—
Investments, cost method	500,000	500,000	—	—	—
Investments, equity method	113,000	129,000	128,000	—	162,000
Investment in equity securities	7	6	10	—	27
Other assets	71,000	162,000	97,000	—	3
Right-of-use assets	6	6	7	—	8
Goodwill	2	2	27	—	61
Other intangible assets, net	17	19	20	—	31
Total assets	68	106	153	—	249
Accounts payable	3	3	4	—	6
Accrued expenses and deferred revenue	2	3	3	—	19
Other current liabilities	4	4	983,000	—	447,000
Accrued interest on long-term debt	7	5	—	—	—
Current portion of lease liability	611,000	606,000	686,000	—	796,000
Current portion of long-term debt on assets held-for-sale, net	—	49	44	—	—
Total current liabilities	47	65	56	—	74
Long-term debt, net	6	2	7	—	10
Long term lease liability	6	6	7	—	8
Total liabilities	59	74	—	—	—
Commitments and contingencies (Note 16)	—	—	—	—	—
Preferred stock, $.02 par value; 47,000 shares authorized, zero shares issued and outstanding	—	—	—	—	—
Common stock, $.02 par value; 200,000,000 shares authorized, 9,092,518 shares issued and outstanding (8,092,518 on December 31, 2024)	182,000	161,000	140,000	—	139,000
Additional paid-in capital	326	323	320	—	320
Accumulated deficit	−327	−303	−256	19	−194
Total stockholders equity of the Company	−832,000	20	64	—	126
Non-controlling interest in subsidiaries	10	13	19	—	31
Total stockholders equity	9	33	83	—	157
Total liabilities and stockholders equity	68	106	153	—	249

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation and amortization	3	2	5	—	—
Issuance of common stock for reward	870,000	—	—	—	—
Stock based payments for professional services rendered	190,000	—	—	—	—
Stock based payments to employees and directors	13,000	19,000	—	4,000	78,000
(Loss) gain on equity method investment	16,000	−1,000	34,000	—	—
Unrealized loss (gain) on investment in marketable securities	531,000	−224,000	—	—	—
Amortization of operating lease ROU assets	640,000	745,000	—	—	—
Write off of inventory	419,000	—	—	—	—
Provision for inventory obsolescence	−127,000	—	—	—	—
Loss (gain) on sale of real estate assets	10	−14,000	1	—	—
Impairment of fixed assets	—	264,000	—	—	—
Impairment of investments of investments at cost	—	782,000	—	—	—
Impairment of real estate	2	7	—	—	—
Provision for loan losses	20,000	4	—	—	—
Impairment of goodwill	—	25	31	—	—
Accounts receivable	558,000	1	1	−2	−2
Inventory	152,000	377,000	5	540,000	−6
Prepaid expenses and other current assets	642,000	778,000	996,000	2	−2
Investment in trading securities	−316,000	−3	—	—	—
Other assets	91,000	−65,000	2	−2	1
Accounts payable	−196,000	−861,000	−2	4	463,000
Accrued expenses	−926,000	140,000	−16	4	16
ROU liabilities	−614,000	−686,000	−1	—	—
Accrued interest on notes payable	2	4	—	—	—
Other liabilities	−624,000	3	−39,000	−298,000	−2
Net cash used by operating activities	−9	−9	−19	−27	−9
Purchase of property, plant and equipment	−268,000	−133,000	—	—	—
Purchase of real estate	−38,000	−140,000	—	—	—
Proceeds from sale of real estate	16	—	—	—	—
Proceeds from sale of equity investments	—	3	—	—	—
Proceeds from disposal of property, plant and equipment	—	6	248,000	—	—
Proceeds from sale of investment, related party	2	—	—	—	—
Issuance of new notes receivable, net origination fees	—	−459,000	—	—	—
Payments received on notes receivable	250,000	4	870,000	1	—
Payments received on notes receivable, related party	—	106,000	—	—	—
Net cash provided by investing activities	18	12	9	−18	−122
Payments of long-term debt	−18	−3	−4	−4	−2
Borrowings of long-term debt, net	3	876,000	—	—	—
Borrowings of convertible note payable - related party	500,000	—	—	—	—
Issuances of common stock, net of issuance costs	—	3	—	2	122
Net cash provided (used) by financing activities	−14	1	−2	8	179
Net increase (decrease) in cash	−5	5	−9	—	—

Filings

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