1. Nature of Operations

The Company, incorporated in the state of New York in May 1984 has conducted business in the name of DSS, Inc. On September 16, 2021, the board of directors approved an agreement and plan of merger with a wholly owned subsidiary, DSS, Inc. (a New York corporation, incorporated in August 2020), for the sole purpose of effecting a name change from Document Security Systems, Inc. to DSS, Inc. This change became effective on September 30, 2021. DSS, Inc. maintained the same trading symbol “DSS”.

DSS, Inc. (together with its consolidated subsidiaries, referred to herein as “DSS,” “we,” “us,” “our” or the “Company”) currently operates four (4) distinct business lines with operations and locations around the globe. These business lines are: (1) Product Packaging, (2) Biotechnology, (3) Commercial Lending, (4) Securities and Investment Management.

Our divisions, their business lines, subsidiaries, and operating territories: (1) Our Product Packaging line is led by Premier Packaging Corporation, Inc. (“Premier”), a New York corporation. Premier operates in the paper board and fiber based folding carton, consumer product packaging, and document security printing markets. It markets, manufactures, and sells sophisticated custom folding cartons, mailers, photo sleeves and complex 3-dimensional direct mail solutions. Premier is currently located in its new facility in Rochester, NY, and primarily serves the US market. (2) The Biotechnology business line was created to invest in or acquire companies in the BioHealth and BioMedical fields, including businesses focused on the advancement of drug discovery and prevention, inhibition, and treatment of neurological, oncological, and immune related diseases. This division is also targeting unmet, urgent medical needs, and is developing open-air defense initiatives, which curb transmission of air-borne infectious diseases, such as tuberculosis and influenza. (3) Our Commercial Lending business division, driven by American Pacific Financial (“APF”), provides financing solutions including commercial business lines of credit, land development financing, inventory financing, equipment financing, and third-party loan servicing (4) Securities and Investment Management was established to develop and/or acquire assets in the securities trading or management arena, and to pursue, among other product and service lines, broker dealers, and mutual funds management. Also in this segment is the Company’s real estate investment trusts (“REIT”), organized under our American Medical REIT, Inc. (“AMRE”) and for the purposes of acquiring hospitals and other acute or post-acute care centers from leading clinical operators with dominant market share in secondary and tertiary markets, and leasing each property to a single operator under a triple-net lease. The REIT was formed to originate, acquire, and lease a credit-centric portfolio of licensed medical real estate.

On June 21, 2025, Impact BioMedical Inc. (“Impact” or the “Company”), Zoar Limited (formerly known as Dr Ashleys Limited), a Cayman Islands exempted company limited by shares (“Zoar” or “PubCo”), Dr Ashleys Nevada Sub, Inc., a Nevada corporation and wholly-owned subsidiary of PubCo (“Merger Sub”), Zoar Labs Limited (formerly known as Dr Ashleys Bio Labs Limited), a Cayman Islands exempted company limited by shares (“Zoar Labs”), and Kanans Visvanats (a.k.a. Kannan Vishwanatth), solely in his capacity as the sole shareholder of Zoar Labs (the “Zoar Labs Shareholder”), entered into a Merger and Share Exchange Agreement (as subsequently amended, the “Merger Agreement”). Pursuant to the Merger Agreement, and subject to its terms and conditions, (i) Merger Sub will merge with and into Impact, with Impact continuing as the surviving entity (the “Merger”), and (ii) simultaneously with or immediately following the Merger, PubCo will acquire all issued and outstanding ordinary shares of Zoar Labs from the Zoar Labs Shareholder (the “Share Exchange”). On October 23, 2026, the U.S. Securities and Exchange Commission (“SEC”) declared effective PubCo’s Registration Statement on Form F-4 relating to the proposed business combination. The transaction remains subject to certain closing conditions, including required stockholder and regulatory approvals and approval for listing PubCo’s ordinary shares on the NYSE American. The parties currently anticipate completing the transaction during the fourth quarter of 2026, subject to satisfaction or waiver of the remaining closing conditions. There can be no assurance that the transaction will be completed within the anticipated timeframe.