DSG Global Small Cap Research Report

Investment and Company Research Opportunity Research TRADE ALERT www.goldmanresearch.com Copyright © Goldman Small Cap Research, 2021 Page 3 of 8 DSG GLOBAL OVERVIEW DSG Global, Inc. (OTCQB – DSGT) operates via two subsidiaries: Imperium Motor Company (the EV business) and Vantage Tag Systems (fleet management). For the purposes of this trade alert, we are focused on the high growth, high value Imperium Motor segment, rather than the Vantage Tag System, which, while growing in deployment and utilization, has a value and an emphasis that are secondary to the EV business. DSG’s Imperium subsidiary boasts exclusive North American distribution relationships with two highly regarded China-based EV manufacturers: Zhejiang Jonway Automobile Co., Ltd began manufacturing in May 2003. The Zhejiang province manufacturing plant has an area of 57.3 hectares with more than 800 employees. It has invested more than 600 million RMB in producing three and five-door SUVs and will produce a number of vehicles for the Company. Imperium also holds exclusive North American distribution rights for Skywell built EVs. Skywell New Energy Automobile Group Co. Ltd. was founded in 2011. The products include new energy EV Buses, passenger cars and passenger vehicles, which are widely sold in many countries and regions in Southeast Asia and widely used in public transport, tourism, commuting, and leasing and other markets. Skywell is an award winning EV manufacturer that ranks as an industry leader for sales of new electric vehicles. Imperium is positioned as a brand management, distribution, and experience company, unencumbered by the manufacturing process. At its core, designs are advanced, with an emphasis on performance, functionality and comfort. Moreover, the Company’s mission is to provide an alternative to high priced EV’s offered by the major auto makers---as well as what may be the most diverse types of electric vehicles in North America. These include 10 low-speed vehicles of varying sizes and functions such as 3-4 seater coupes, and sedans and service vans, as well as high speed e-bikes and scooters, trucks, and SUVs, along with soon to be available commercial buses and others. Finally, the Company has an Experience Center in California, in the center of two of the largest, most popular EV procurement regions in the entire country. DSG is leveraging its many years of experience in the golf cart world with Vantage Tag by incorporating a SaaS-based, advanced fleet management and onboard touchscreen app that provides superior ROI for golf club management, delivery and rental fleets, taxis, limousines, electric rickshaws and more. As noted on the Company’s website, the potential for growth is huge. The VTS technology is currently utilized on only 300 of the world’s 38,000 golf courses which have an estimated 4 million golf carts. Plus, the offering is replicable for utilization with the Company’s service and commercial vehicles, when sold as fleet vehicles. In the past year, DSG’s stock reached $1.50, likely in response to pre-mature management forecasts. We do not have firm forecasts as the previous projections by management have been rescinded due to the challenge in forecasting and executing product fulfillment during the pandemic. It is important to note: First, virtually all EV companies have had similar fits and starts out of the gate and we believe the stock was overly penalized. Second, no one can expect that a new EV business could ramp up smoothly during the COVID-19 global health pandemic. Considering these factors, we give management a pass and the forecasts we proffer are our own.