Heng Fai Ambrose Chan Increases Stake in DSS, Inc. to 86.8% via Alset Entities

Heng Fai Ambrose Chan, through various entities including Alset Inc. and Alset International Limited, has significantly increased his beneficial ownership in DSS, Inc. as of July 9, 2026. This Amendment No. 23 to Schedule 13D reports a total beneficial ownership of 26,464,246 shares, representing 86.8% of the company based on 10,042,518 shares outstanding. The increase is primarily driven by the acquisition of a $2,450,000 convertible promissory note and 16,554,055 common stock purchase warrants issued to Alset International Limited on March 26, 2026, which became convertible and exercisable on June 3, 2026. The promissory note is convertible at $0.74 per share, while the warrants have an exercise price of $0.93 per share and expire in 2031. Mr. Chan's holdings include direct ownership and indirect stakes through Heng Fai Holdings Limited, Global Biomedical Pte. Ltd., and the Alset entities. This filing reflects a consolidated control position by Mr. Chan over the issuer.