SEC 8-K News

2024-07-05 17:29:16

DSG Global, Inc. has entered into an exclusive licensing agreement with Arriva Leisure Sports Vehicles Corp. on July 2, 2024. The agreement allows Arriva to exclusively use certain intellectual properties, including trademarks and industrial property, for the design, manufacture, and distribution of SR-1 Golf Carts & LSV, and GPS and Wireless Vehicle Management Systems. Arriva is also granted the first refusal on any new products. The deal includes a 3.5% royalty on gross sales with a minimum annual royalty of $50,000 and a one-time license fee of $2 million spread over five years. The agreement has a 25-year term with automatic five-year renewals unless notice is given.

  • Company Names: DSG Global, Inc., Arriva Leisure Sports Vehicles Corp
  • Individual Name: Robert Silzer
  • Title: Chief Executive Officer