Document Security Systems, Inc. Files Form S-3
ROCHESTER, N.Y., April 29 /PRNewswire-FirstCall/ -- Document Security Systems, Inc. (NYSE Amex: DMC; "DSS"), today announced that it has filed a Form S-3 shelf registration statement with the Securities and Exchange Commission to register 735,437 shares of common stock and 343,000 shares underlying warrants with exercise prices ranging from $2.00 and $3.50. These are not newly issued shares of the company's stock and are currently outstanding, but were previously unregistered. The sale of these shares will not add to Document Security System's outstanding share count and will not dilute ownership of Document Security System's stockholders. The shares are being registered pursuant to a Registration Rights Agreement the Company entered into in conjunction with it acquisition of Premier Packaging on February 12, 2010.
"Contrary to a wire report released after the market close yesterday, which stated that we 'filed a stock offering of up to $3.95MM', this is not a stock offering but a registration statement of currently outstanding, but unregistered shares and underlying warrants that were part of our agreement to acquire Premier Packaging," stated Document Security Systems CEO Pat White.
Document Security Systems will not receive any proceeds. A Form S-3 registration statement relating to these securities has been filed with the Securities and Exchange Commission, but has not yet become effective. These securities may not be sold under this registration nor may offers to buy be accepted prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy those securities in any state in which such offer solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state. The registration statement and all other SEC filings by the company are available for review at www.sec.gov.
About Document Security Systems, Inc.
Document Security Systems is a technology company in the security and protection services sector which develops and manufactures products and packaging containing patented and patent pending optical deterrent technologies that help prevent counterfeiting and brand fraud from the use of the most advanced scanners, copiers and imaging systems in the market. The company owns over 30 different patented and patent-pending technologies and products which protect valuable documents and printed products from counterfeiters and identity thieves. The company has three manufacturing facilities which produce secure printing, packaging and plastic ID cards. Document Security Systems' customers, which include international governments, major corporations and world financial institutions, use its covert and overt technologies to protect a number of applications including, but not limited to, currency, vital records, brand protection, ID Cards, Smart Cards internet commerce, passports, gift certificates and packaging. Document Security Systems' strategy is to become the world's leading producer of cutting-edge security technologies for paper, plastic and electronically generated printed assets.
More information about Document Security Systems, Inc. and their wholly-owned subsidiaries can be found by visiting:
Document Security Systems, Inc.: http://www.documentsecurity.com
Plastic Printing Professional, Inc.: http://www.plasticprintingprofessionals.com/
Protected Paper: http://www.protectedpaper.com
DPI of Rochester: http://www.dpirochester.com
Premier Custom Packaging: www.premiercustompkg.com
Safe Harbor Statement
This release contains forward-looking statements regarding expectations for future financial performance, which involve uncertainty and risk. It is possible the Company's future financial performance may differ from expectations due to a variety of factors including, but not limited to, changes in economic and business conditions in the world, increased competitive activity, achieving sales levels to fulfill revenue expectations, consolidation among its competitors and customers, technology advancements, unexpected costs and charges, adequate funding for plans, changes in interest and foreign exchange rates, regulatory and other approvals and failure to implement all plans, for whatever reason. It is not possible to foresee or identify all such factors. Any forward-looking statements in this report are based on current conditions; expected future developments and other factors it believes are appropriate in the circumstances. Prospective investors are cautioned that such statements are not a guarantee of future performance and actual results or developments may differ materially from those projected. The Company makes no commitment to update any forward-looking statement included herein, or disclose any facts, events or circumstances that may affect the accuracy of any forward-looking statement.
For information contact: |
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Contact: Jody Janson |
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Company: Document Security Systems, Inc. |
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Title: Shareholder Relations |
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Voice: 585-232-5440 |
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Email: [email protected] |
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SOURCE Document Security Systems, Inc.
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