Alset buys $500,000 convertible note and warrants from related party DSS
On September 15, 2026, Alset Inc. bought a convertible promissory note and warrants from DSS, Inc. for $500,000 under a securities purchase agreement. DSS is a related party: Alset holds about a 39.4% equity interest in it, and Chairman and CEO Chan Heng Fai chairs DSS, so the deal is subject to DSS stockholder approval before the note can be converted or the warrants exercised.
Key points
- Purchase price: $500,000 for a note payable on demand, bearing 3% simple interest per annum
- Note convertible into DSS common stock at $0.50 per share; warrants cover 8,000,000 DSS shares at $0.55 per share and expire on their fifth anniversary
- Conversion and exercise require DSS stockholder approval
- Approved by Alset's Board and Audit Committee; Chan Heng Fai and Chan Tung Moe recused from voting
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 September 21, 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.