DPW Holdings, Inc. (NYSE American: DPW) a diversified holding company (“DPW,” or the “Company”), announced further actions as part of its ongoing corporate realignment related to its global defense business, Gresham Worldwide, Inc. (“Gresham Worldwide”), by establishing a newly formed Gresham Worldwide board of directors to provide additional support and autonomy for the defense business and its CEO, Jonathan R. Read. Gresham Worldwide consists of three established companies that provide high-quality, high-reliability bespoke technology solutions required for mission critical applications in the defense, medical and telecommunications verticals.
On February 25, 2020, DPW Holdings, Inc. (NYSE American: DPW) a diversified holding company (“DPW,” or the “Company”) announced that on February 19, 2020, DPW entered into a definitive settlement agreement (the “Agreement”) between Plaintiffs Ethan Young and Greg Young, derivatively on behalf of Nominal Defendant DPW against the Company’s then directors and DPW itself, Case No. 2:18-cv-06578, filed in the United States District Court (the “Court”) in the Central District of California on July 31, 2018. On April 15, 2020, the Court issued an Order (the “Order”) approving a Motion for Preliminary Approval of Settlement in the Derivative Action filed against DPW as a Nominal Defendant and its directors who served on its board of directors on July 31, 2018.
DPW Holdings, Inc. (NYSE American: DPW) a diversified holding company (“DPW,” or the “Company”) announced that its global defense business, Gresham Worldwide, Inc. (“Gresham Worldwide”), has received a $1.4 million order from a leading defense and aerospace customer of its wholly owned subsidiary Enertec Systems 2001, Ltd. (“Enertec”). Enertec, based in Israel, is a leading defense and aerospace designer and manufacturer of advanced multi-purpose electronic systems, including customized computer-based automated test equipment and turnkey solutions designed to perform in harsh environments and battlefield conditions.
DPW Holdings, Inc. (NYSE American: DPW), a diversified holding company (“DPW,” or the “Company”), is providing an update relating to the impact that the coronavirus disease (“COVID-19”) is having on its business. DPW Holdings’ corporate headquarters, located in Newport Beach, CA, is closed and the headquarters staff is working remotely, based on the occupancy and social distancing orders from the State of California. The headquarters staff has tested the secure remote access systems and technology infrastructure to adjust working arrangements for its employees and believes it has adequate internal communications system and will remain operational with a remote staff.
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DPW Holdings, Inc. (NYSE American: DPW) a diversified holding company (“DPW,” or the “Company”) announced that on January 21, 2020, DPW finalized the terms of the settlement agreement between Plaintiffs Ethan Young and Greg Young (the “Plaintiffs”), derivatively on behalf of Nominal Defendant DPW against the Company’s then directors and DPW itself (the “Defendants”), Case No. 2:18-cv-06578, filed in the United States District Court (the “Court”) in the Central District of California on July 31, 2018 (the “Derivative Action”). On January 21, 2020, the Plaintiffs filed a Notice of Settled Case in the Derivative Action. Although the matter has been settled in principle, any proposed settlement agreement (the “Agreement”) must be approved by the Court.
Singapore's PSA International and Indian container freight operators have warned the Indian government that its order to waive container storage charges during the coronavirus lockdown could lead to port congestion, letters seen by Reuters showed. India's Ministry of Shipping asked ports to allow free storage of containers as part of relief measures to ease pressure on companies hit by logistics restrictions because of India's nationwide lockdown. PSA's local unit in a letter to the government on April 24 said importers might not remove their containers from ports due to free storage, adding India's "high-risk strategy" could clog terminals and hit the supply chain, instead of helping it.
DPW Holdings, Inc. (NYSE American: DPW) a diversified holding company (“DPW,” or the “Company”), announced that DPW’s special meeting of stockholders, scheduled as a virtual meeting format only, on April 30, 2020 at 9:00 a.m. PT. The special meeting of stockholders therefore had no quorum and the meeting was adjourned. The Company will hold another special meeting on June 8, 2020 at which it will seek approval for the same proposals as was sought for the meeting held on April 30, 2020, as well as the ratification of the appointment of Marcum LLP as its independent auditor.
Newport Beach, Calif., Feb. 06, 2020 -- DPW Holdings, Inc. (NYSE American: DPW) a diversified holding company (“DPW,” or the “Company”) announced that on February 5, 2020, it.
DPW Holdings, Inc. (NYSE American: DPW) a diversified holding company (“DPW,” or the “Company”), announced that its global power electronics business, Coolisys Technologies Corp. (“Coolisys”), is seeing offshore manufacturing partners, particularly in Asia, are back to near full capacity. In addition, Coolisys is realizing an increase in demand from its customers in the medical industry, specifically related to power supplies for oxygen concentrators and ventilators, with approximately $1.4 million in orders. Coolisys engineers have been designing and developing power supply products for the medical industry for over 12 years.
DPW Holdings, Inc. (NYSE American: DPW) (“DPW” or the “Company”), a diversified holding company announced today that, due to the emerging public health impact of the coronavirus (COVID-19) pandemic, the location of DPW’s special meeting of stockholders that was originally scheduled to be held on Tuesday, March 31, 2020 at 9:00 a.m. PT at the Hyatt Regency Hotel Newport Beach, located at 1107 Jamboree Road, Newport Beach, CA 92660 (the “Special Meeting”) has been changed and will be held in a virtual meeting format only on April 30, 2020 at 9:00 a.m. PT. To approve the conversion of a $1,000,000 Convertible Promissory Note issued on February 5, 2020, to Ault & Company, Inc., which is convertible into 717,241 shares of Common Stock at $1.45 per share.
Companies In The News Are: CEMI, DPW, MEDS, INSG
DPW Holdings, Inc. (NYSE American: DPW) (“DPW” or the “Company”), a diversified holding company announced today that, due to the emerging public health impact of the coronavirus (COVID-19) pandemic, the location of DPW’s special meeting of stockholders that was originally scheduled to be held on Tuesday, March 31, 2020 at 9:00 a.m. PT at the Hyatt Regency Hotel Newport Beach, located at 1107 Jamboree Road, Newport Beach, CA 92660 (the “Special Meeting”) has been changed and will be held in a virtual meeting format only on April 30, 2020 at 9:00 a.m. PT. To approve the conversion of a $1,000,000 Convertible Promissory Note issued on February 5, 2020, to Ault & Company, Inc., which is convertible into 717,241 shares of Common Stock at $1.45 per share.
DPW Holdings, Inc. (NYSE American: DPW) a diversified holding company (“DPW,” or the “Company”) announced that on February 19, 2020, DPW entered into a definitive settlement agreement between Plaintiffs Ethan Young and Greg Young, derivatively on behalf of Nominal Defendant DPW against the Company’s then directors and DPW itself, Case No. 2:18-cv-06578, filed in the United States District Court (the “Court”) in the Central District of California on July 31, 2018. Under the terms of the settlement agreement, the Company’s Board of Directors will implement certain changes to the Company’s bylaws, committee charters, corporate governance policies, and the composition of the Board, including the resignation of a current director and the appointment of two new independent directors.
Newport Beach, Calif., April 01, 2020 (GLOBE NEWSWIRE) -- DPW Holdings, Inc. (NYSE American: DPW) a diversified holding company (“DPW,” or the “Company”), announced that its global power electronics business, Coolisys Technologies Corp. (“Coolisys”), through its subsidiary Digital Power Corporation (“DPC”), has received an initial order of $1,283,000 to provide comprehensive electrical and electronic systems for powering an onboard radio and other classified instruments installed and operated in customized military multi-mission vehicles. The solution provided by Coolisys will include an electrical system featuring electronic hardware and an imbedded management software that is approved and qualified by a Foreign Military Teleprocessing Branch, after extensive testing. Coolisys’ CEO, Amos Kohn said, “The recent order is the result of a long-term relationship, the company’s strong reputation for delivering custom high-reliability power solutions for the global defense industry and DPC’s expansion into this military business sector.”
FREMONT, CA / ACCESSWIRE / March 2, 2020 / DPW Holdings, Inc. (NYSE American: DPW) ("DPW" or the "Company"), a diversified holding company, today announced that it will be presenting at the third LD Micro Virtual Conference on March 4, 2020 at 2:40 PM PST / 5:40 PM EST. Milton "Todd" Ault, III, the Company's CEO and Chairman will be giving the presentation, an overview of DPW and its subsidiaries and discussing the Company's goals for 2020. The Company encourages all shareholders, investors and those interested in DPW Holdings to participate by using this link: LD Micro Virtual Conference.
DPW Holdings, Inc. (NYSE American: DPW) a diversified holding company (“DPW,” or the “Company”), hereby announces that its board of directors has approved a proposed realignment of its corporate structure. The realignment is intended to enhance DPW’s ability to reach its objectives, notably its growth strategy, as well as to assist its investors and others to better understand the components and purpose of each business segment. DPW Holdings will structure the Company into three separate groups: Gresham Worldwide, Coolisys Technologies Corp. (“Coolisys”) and DPW Financial Group.
DPW Holdings, Inc. (NYSE American: DPW) a diversified holding company (“DPW,” or the “Company”) announced that it has entered into a Master Exchange Agreement dated February 10, 2020 (the “Agreement”) with a family office to resolve debt previously in default in an aggregate amount of up to $7.7 million. The family office has purchased $4.2 million of outstanding debt currently in default and has committed to purchase up to an additional $3.5 million of outstanding debt upon receipt of stockholder approval. In connection with the entry into the Agreement, Dominion Capital, LLC has sold its secured promissory note to the family office, as has another creditor, of which the notes in the hands of the family office are no longer in default, and all litigation between the parties is resolved.
DPW Holdings, Inc. (NYSE American: DPW), a diversified holding company (“DPW,” or the “Company”), announced on January 2, 2020 that its wholly owned subsidiary, DPW Financial Group, Inc. (“DPWF”), had entered into an agreement to acquire two broker-dealers, consisting of Glendale Securities, Inc. (“GSI”), a retail broker-dealer, and its correspondent clearing broker dealer (collectively, the “Firms”). DPW also announced that the closing of the agreement was subject to customary conditions, including regulatory clearance, which consisted principally of approval by the Financial Industry Regulatory Authority, Inc. (“FINRA”). On January 8, 2020, the Company announced that on January 7, 2020, the Firms had held a telephonic meeting with representatives of FINRA and that they were informed that the proposed transaction would not be approved in its then contemplated form.
The Company’s CEO and Chairman, Milton “Todd” Ault, III, provided an overview of DPW and its subsidiaries, discussed the Company’s goals for 2020 and disclosed the Company’s total backlog as of February 29, 2020 was $65 million, including $46 million in related party backlog (related-party backlog is delinquent in the production schedule). The written presentation discussed during the conference was disclosed on Form 8-K filed with the U.S. Securities and Exchange Commission. The $65 million backlog includes recently received orders from the Company’s global power electronics business, Coolisys Technologies, Inc. (“Coolisys") totaling approximately $2.2 million primarily from existing customers for customized products in multiple industries including medical instruments, telecommunications, industrial equipment and defense.