FREMONT, Calif., Jan. 08, 2018 (GLOBE NEWSWIRE) -- DPW Holdings, Inc. (NYSE American: DPW) ("DPW" or the "Company"), a diversified holding company, announced today that it has provided, through a preferred investment with certain privileges and rights, $1,000,000 to Sandstone Diagnostic (“Sandstone”). This investment represents a 4.05% equity stake in the innovative developer of point-of care medical testing equipment and systems. Sandstone is the creator of Trak, www.trakfertility.com, the leading male fertility tracker which has been clinically tested and is FDA cleared for distribution. Trak is a consumer test kit and mobile app for males that provides couples a simple and accurate way to monitor and improve his fertility from the comfort and privacy of their home. Trak utilizes its proprietary bio-analysis platform to empower men to take control of their reproductive health and improve a couple's chances of conception. Sandstone Diagnostics is a Bay Area consumer health company focused on leveraging innovative biotechnologies to develop instruments and consumables for point-of-care medical testing that empower people to measure and improve important health markers at home.
“DPW is an ideal strategic investor for Sandstone. Their broad interests in the medical device space and innovative thinking are additional assets they bring to the table,” stated Ms. Drexler.
“We are very excited about our investment in Sandstone Diagnostics and look forward to supporting the work of the team led by their CEO, Karen Drexler. Ms. Drexler is a proven driver of change in Life Sciences and is an experienced and accomplished businesswoman and mentor of investment. Karen has both the entrepreneurial spirit and hardened corporate experience to surpass the success we envision for Sandstone, said Milton “Todd” Ault, III, the Company’s Chief Executive Officer and Chairman. Ault continued, “Sandstone’s Trak provides couples an easy and proven solution to improve man’s health and their ability to have children. Sandstone represents another facet of our aggressive investment and growth strategies that we’ll continue to execute throughout 2018 as outlined during our webinar on December 20, 2017. We are moving methodically forward to expand our collaborative opportunities and maximize our existing revenue streams while creating new ones. DPW is focused on increasing profitability and leveraging scale, all contributing to our goal of providing shareholders long-term added-value and growth.”
The Company stated that Sandstone is the latest investment that will be held by its Life Sciences division. Mr. Ault has over 20 years of experience in developing businesses in the Life Sciences and the Medical Care sectors. Ranging from equity investment to operating bio-tech start-ups and a developing medical safety equipment manufacturer, Mr. Ault possesses a unique blend of talents and expertise that culminated on February 25, 2016 in the founding of Alzamend Neuro, Inc., a biotechnology firm dedicated to finding the treatment, prevention and cure for Alzheimer’s Disease. Mr. Ault has served as Chairman since Alzamend’s inception. As an activist, Mr. Ault in the Spring of 2004 became the majority shareholder of Franklin Capital Corp. and was elected to its board of directors in July 2004. Subsequently on February 25, 2005, Mr. Ault led Franklin Capital to acquire SurgiCount Medical, Inc., the creator and developer of the SafetySponge® System; an FDA-cleared bar coding technology for inventory control that aims to detect and prevent the incidence of foreign objects left in the body after surgery. In April 2005, Ault restructured Franklin Capital Corp., having it change its name to Patient Safety Technologies, Inc. (AMEX: PSTX) (“PST”). Stryker Corporation (NYSE:SYK) acquired PST at the beginning of 2014 in a cash deal valued at one hundred twenty million dollars ($120,000,000).
The Company stated it would keep the market updated on any developments or substantial changes in its investment in Sandstone Diagnostics, Inc.
ABOUT DPW HOLDINGS, INC.
Headquartered in Fremont, CA, DPW Holdings, Inc. is a diversified holding company that, through its wholly owned subsidiary, Coolisys Technologies, Inc., is dedicated to providing world-class technology-based solutions where innovation is the main driver for mission-critical applications and lifesaving services. Coolisys’ growth strategy targets core markets that are characterized by “high barriers to entry” and include specialized products and services not likely to be commoditized. Coolisys through its portfolio companies develops and manufactures cutting-edge resonant switching power topologies, specialized complex high-frequency radio frequency (RF) and microwave detector-log video amplifiers, very high-frequency filters and naval power conversion and distribution equipment. Coolisys services the defense, aerospace, medical and industrial sectors and manages four entities including Digital Power Corporation, www.DigiPwr.com, a leading manufacturer based in Northern California, 1-877-634-0982; Digital Power Limited dba Gresham Power Ltd., www.GreshamPower.com, a manufacturer based in Salisbury, UK.; Microphase Corporation, www.MicroPhase.com with its headquarters in Shelton, CT 1- 203-866-8000; and Power-Plus Technical Distributors, www.Power-Plus.com, a wholesale distributor based in Sonora, CA 1-800-963-0066.
Digital Power Lending, LLC, a wholly owned subsidiary of the Company, is based in Fremont, CA, and is a California private lending company dedicated to strategically providing capital to small and middle size businesses for an equity interest in addition to loan fees and interest, www.DigitalPowerLending.com. Excelo, LLC, a wholly-owned subsidiary of the Company, is a national search firm specializing in fulfilling strategic executive, professional and hi-tech placements for businesses delivering world-class services, www.Excelo.com. DPW Holdings, Inc.’s headquarters is located at 48430 Lakeview Blvd., Fremont, California, 94538; 1-877-634-0982; www.DPWHoldings.com.
For Investor inquiries: IR@DPWHoldings.com or 1-888-753-2235.
The foregoing 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, including statements regarding the acquisition and the ability to consummate the acquisition. 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.
Source:DPW Holdings, Inc.