Alset Inc. lends DSS $1 million in related-party convertible note and warrant deal
On June 23, 2026, Alset Inc. agreed to lend DSS, Inc. $1 million in exchange for a convertible promissory note and warrants to buy 17,777,776 DSS common shares. The deal is with a related party under common control of Alset's Chairman and CEO, Chan Heng Fai, and it requires DSS stockholder approval before the note can be converted or the warrants exercised.
Key points
- Alset loaned DSS $1,000,000 under a securities purchase agreement dated June 23, 2026.
- The note is payable on demand, bears 3% simple interest per year, and can convert into DSS common stock at $0.45 per share; it has a five-year maturity.
- Warrants cover 17,777,776 DSS common shares at an exercise price of $0.50 per share and expire on their third anniversary.
- The Board and Audit Committee approved the agreement; Chan Heng Fai and Chan Tung Moe recused themselves from the vote.
The filing
Written by AI on Nov 9, 2026, 11:43 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on June 25, 2026.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.