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Newport Beach, Calif., May 10, 2019 (GLOBE NEWSWIRE) -- DPW Holdings, Inc. (NYSE American: DPW), a diversified holding company (the “Company,” or “DPW”), today announced that its wholly owned subsidiary, Digital Power Lending (“DPL”), accessible at www.digitalpowerlending.com, has successfully completed its beta test of its lending platform completing the execution of a series of commercial loans to publicly traded companies. As a licensed California Finance Lender, DPL issued interest-bearing convertible debentures varying in principal from $150,000 to over $285,000 to ensure good performance with a coupon and asset coverage with most loans including warrants issued to DPL to leverage optionality and participation in the success of each client. This small loan portfolio performed well with an average return on investment of over 35%, with each individual loan either paid in full or current. DPL has developed a warrant portfolio from the issuance of millions of warrants, exercisable in three to five years, which could provide additional earnings in the future with minimal equity risk.
DPL utilizes its extensive network of trusted relationships than span over 25 years to identify microcaps that meet our lending requirements and strategy. The Company believes the performance of the beta-test demonstrates that DPL’s lending platform can contribute to the profitability and growth of DPW as DPL has developed an impressive track record on these loans that have contributed to DPW’s and its subsidiaries’ growth capital with attractive terms. DPW anticipates that DPL will expand to become a significant source of revenue and favorably impact DPW’s net income.
For more information on DPW Holdings and its subsidiaries, the Company recommends that stockholders, investors and any other interested parties read the Company’s public filings and press releases available under the Investor Relations section at www.DPWHoldings.com or available at www.sec.gov.
About DPW Holdings, Inc.
DPW Holdings, Inc. is a diversified holding company pursuing growth by acquiring undervalued businesses and disruptive technologies that hold global potential. Through its wholly owned subsidiaries and strategic investments, the Company provides mission-critical products that support a diverse range of industries, including defense/aerospace, industrial, telecommunications, medical, crypto-mining, and textiles. In addition, the Company owns a select portfolio of commercial hospitality properties and extends credit to select entrepreneurial businesses through a licensed lending subsidiary. DPW’s headquarters are located at 201 Shipyard Way, Suite E, Newport Beach, CA 92663; www.DPWHoldings.com.
Forward Looking Statements
This press release contains “forward looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements generally include statements that are predictive in nature and depend upon or refer to future events or conditions, and include words such as “believes,” “plans,” “anticipates,” “projects,” “estimates,” “expects,” “intends,” “strategy,” “future,” “opportunity,” “may,” “will,” “should,” “could,” “potential,” or similar expressions. Statements that are not historical facts are forward-looking statements. Forward-looking statements are based on current beliefs and assumptions that are subject to risks and uncertainties. Forward-looking statements speak only as of the date they are made, and the Company undertakes no obligation to update any of them publicly in light of new information or future events. Actual results could differ materially from those contained in any forward-looking statement as a result of various factors. More information, including potential risk factors, that could affect the Company’s business and financial results are included in the Company’s filings with the U.S. Securities and Exchange Commission, including, but not limited to, the Company’s Forms 10-K, 10-Q and 8-K. All filings are available at www.sec.gov and on the Company’s website at www.DPWHoldings.com.
Contacts: IR@DPWHoldings.com or 1-888-753-2235.