DPW Holdings announces update on corporate realignment
DPW Holdings announced that it has completed establishing DPW Financial and DPW Technologies, both Delaware corporations, as previously announced on November 6, 2018. DPW anticipates aggregating all reporting by its subsidiaries and business units through these two new subsidiaries, starting as early as Q1. This realignment will set the stage for other initiatives by the company in 2019 and beyond. DPW Technology will focus on advanced technology, design, power solutions and manufacturing businesses in defense, aerospace, telecom, medical, and textiles and will include Coolisys Technologies, Digital Power, Microphase Corporation, Enertec Systems, Digital Power Limited, and Power-Plus Technical Distributors. Milton Ault will serve as the interim CEO, and William Horne as the new subsidiary's CFO. DPW Technology intends to hire a CEO to provide leadership during the IPO and to develop and execute future growth strategies. DPW Financial will focus on lending, cryptocurrency mining, hospitality, and real estate and includes Digital Power Lending, IAM and Super Crypto Mining. Darren Magot will serve as the CEO and Kenneth Cragun as the CFO.