other material
confidence high
sentiment neutral
materiality 0.50
Alset buys $500k convertible note + warrants for 8M DSS shares; related-party deal
Alset Inc.
- Alset purchased $500k convertible promissory note from DSS, Inc. bearing 3% simple interest, convertible at $0.50/share.
- Warrants to buy up to 8,000,000 DSS common shares at $0.55 (10% premium), expiring 5 years from issuance.
- Conversion/exercise require DSS stockholder approval; note payable on demand, matures in 5 years.
- Deal is related-party: Chan Heng Fai controls both Alset and DSS; Alset already owns ~39.4% of DSS.
- Alset's board and audit committee approved; Chan Heng Fai and Chan Tung Moe recused from voting.