<SEC-DOCUMENT>0001214659-20-009999.txt : 20201130
<SEC-HEADER>0001214659-20-009999.hdr.sgml : 20201130
<ACCEPTANCE-DATETIME>20201130163029
ACCESSION NUMBER:		0001214659-20-009999
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		4
CONFORMED PERIOD OF REPORT:	20201130
ITEM INFORMATION:		Completion of Acquisition or Disposition of Assets
ITEM INFORMATION:		Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant
ITEM INFORMATION:		Regulation FD Disclosure
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20201130
DATE AS OF CHANGE:		20201130

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			DPW Holdings, Inc.
		CENTRAL INDEX KEY:			0000896493
		STANDARD INDUSTRIAL CLASSIFICATION:	ELECTRONIC COMPONENTS, NEC [3679]
		IRS NUMBER:				941721931
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-12711
		FILM NUMBER:		201358444

	BUSINESS ADDRESS:	
		STREET 1:		201 SHIPYARD WAY
		STREET 2:		SUITE E
		CITY:			NEWPORT BEACH
		STATE:			CA
		ZIP:			92663
		BUSINESS PHONE:		(949) 444-5464

	MAIL ADDRESS:	
		STREET 1:		201 SHIPYARD WAY
		STREET 2:		SUITE E
		CITY:			NEWPORT BEACH
		STATE:			CA
		ZIP:			92663

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	DIGITAL POWER CORP
		DATE OF NAME CHANGE:	19960823
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>r11302008k.htm
<TEXT>
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<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<!-- Field: Rule-Page --><DIV STYLE="margin-top: 12pt; margin-bottom: 3pt; width: 100%"><DIV STYLE="font-size: 1pt; border-top: Black 2pt solid; border-bottom: Black 1pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 14pt"><B>UNITED
STATES</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 14pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 14pt"><B>SECURITIES
AND EXCHANGE COMMISSION</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 12pt"><B>Washington,
D.C. 20549</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">____________________________________________________________</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 18pt"><B>FORM 8-K</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>CURRENT REPORT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Pursuant to Section 13 or 15(d) of the Securities
Exchange Act of 1934</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">___________________________________________________________________</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Date of Report (Date of earliest event reported):&nbsp;&nbsp;November
30, 2020</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 24pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 24pt"><B>DPW HOLDINGS,
INC.</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Exact name of registrant as specified in
its charter)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 34%; text-align: center"><U>Delaware</U></TD>
    <TD STYLE="width: 1%; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 31%; text-align: center"><U>001-12711</U></TD>
    <TD STYLE="width: 1%; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 33%; text-align: center"><U>94-1721931</U></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">(State or other jurisdiction of <BR>
incorporation or organization)</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">(Commission File Number)</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">(I.R.S. Employer Identification No.)</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><U>201 Shipyard Way, Suite E, Newport Beach,
CA 92663</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Address of principal executive offices)
(Zip Code)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><U>(949) 444-5464</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Registrant's telephone number, including
area code)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Check the appropriate box below if the
Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Wingdings">&uml;</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Written
communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Wingdings">&uml;</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Wingdings">&uml;</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Wingdings">&uml;</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Securities registered pursuant to Section
12(b) of the Act:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; background-color: white; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; width: 34%; border-bottom: black 1pt solid; text-align: center">Title of each class</TD>
    <TD STYLE="white-space: nowrap; width: 1%">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; width: 15%; border-bottom: black 1pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Trading</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Symbol(s)</P></TD>
    <TD STYLE="white-space: nowrap; width: 1%">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; width: 49%; border-bottom: black 1pt solid; text-align: center">Name of each exchange on which registered</TD></TR>
<TR STYLE="background-color: #CCEEFF">
    <TD STYLE="vertical-align: top; text-align: center">Common Stock, $0.001 par value</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center">DPW</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center">NYSE American</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Indicate by check mark whether the registrant
is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (&sect;230.405 of this chapter) or Rule 12b-2
of the Securities Exchange Act of 1934 (&sect;240.12b-2 of this chapter).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Emerging growth company&nbsp;<FONT STYLE="font-family: Wingdings">&uml;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">If an emerging growth company, indicate
by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial
accounting standards provided pursuant to Section 13(a) of the Exchange Act.&nbsp;<FONT STYLE="font-family: Wingdings">&uml;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B></B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Forward-Looking Statements</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">This Current Report on Form 8-K and other
written and oral statements made from time to time by us may contain so-called &ldquo;forward-looking statements,&rdquo; all of
which are subject to risks and uncertainties. Forward-looking statements can be identified by the use of words such as &ldquo;expects,&rdquo;
&ldquo;plans,&rdquo; &ldquo;will,&rdquo; &ldquo;forecasts,&rdquo; &ldquo;projects,&rdquo; &ldquo;intends,&rdquo; &ldquo;estimates,&rdquo;
and other words of similar meaning. One can identify them by the fact that they do not relate strictly to historical or current
facts. These statements are likely to address our growth strategy, financial results and product and development programs. One
must carefully consider any such statement and should understand that many factors could cause actual results to differ from our
forward-looking statements. These factors may include inaccurate assumptions and a broad variety of other risks and uncertainties,
including some that are known and some that are not. No forward-looking statement can be guaranteed and actual future results may
vary materially.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 1in"><B>ITEM 2.01</B></TD><TD STYLE="text-align: justify"><B>COMPLETION OF ACQUISITION OR DISPOSITION OF ASSETS</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><U>Stock Purchase Agreement</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As previously reported in the Current Report
on Form 8-K filed by DPW Holdings, Inc., a Delaware corporation (the &ldquo;<B>Company</B>&rdquo;) on November 10, 2020, Gresham
Worldwide, Inc., a Delaware corporation and wholly-owned subsidiary of the Company (&ldquo;<B>Gresham</B>&rdquo;), entered into
a Stock Purchase Agreement (the &ldquo;<B>Agreement</B>&rdquo;) dated November 9, 2020, with Tabard Holdings Inc., a Delaware corporation
and wholly owned subsidiary of Gresham (&ldquo;<B>Tabard</B>&rdquo;), the legal and beneficial owners (the &ldquo;<B>Sellers</B>&rdquo;)
of 100% of the issued shares in the capital of Relec Electronics Ltd., a corporation organized under the laws of England and Wales
(&ldquo;<B>Relec</B>&rdquo;), and Peter Lappin, in his capacity as the representative of the Sellers (the &ldquo;<B>Sellers&rsquo;
Representative</B>&rdquo;).&nbsp;&nbsp;Upon the terms and subject to the conditions set forth in the Agreement, Tabard agreed to
acquire Relec pursuant to the Agreement (the &ldquo;<B>Transaction</B>&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">At the closing of the Transaction on November
30, 2020 (the &ldquo;<B>Closing</B>&rdquo;), the Sellers sold and transferred to Tabard (i) 100% of the issued Class A ordinary
shares of Relec (the &ldquo;<B>Class A Shares</B>&rdquo;), (ii) 100% of the issued Class B ordinary shares of Relec (the &ldquo;<B>Class
B Shares</B>&rdquo;), and (iii) 100% of the issued Class D ordinary shares of Relec (the &ldquo;<B>Class D Shares</B>&rdquo; and,
collectively with the Class A Shares and Class B Shares, the &ldquo;<B>Shares</B>&rdquo;). In consideration for the Shares, inclusive
of a deposit of $500,000 paid on November 9, 2020, Tabard paid the Sellers an amount of GBP 2,579,626, or $3,465,366 USD (the &ldquo;<B>Purchase
Price</B>&rdquo;). In addition, at the Closing, in accordance with the Agreement, Tabard paid GBP 400,000, or $539,268, to Trethowans
LLP to be held for the purpose of securing all or part of the payment and indemnification obligations of the Sellers, and $10,000
USD to the Sellers&rsquo; U.S. legal counsel. The foregoing figures add up to an aggregate of $4,014,633 in costs associated with
the Closing. Finally, pursuant to the Agreement, Tabard may be required to pay the Sellers a maximum of &pound;500,000, or approximately
$665,000, during Relec&rsquo;s three fiscal years commencing on each of January 1, 2021, 2022 and 2023 and ending on each of December
31, 2021, 2022 and 2023, respectively. These earn-out payments are based on a combination of Relec&rsquo;s gross margin, defined
as total revenue less costs of goods sold, and its minimum earnings before income taxes, depreciation and amortization, each as
more fully described in the Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Purchase Price was paid with the funds
received by the Company through the sale of the Notes (as defined hereafter) and an additional $1,764,634 from the proceeds raised
through the sale of the Company&rsquo;s common stock through its &ldquo;at-the-market&rdquo; offering, which offering was previously
reported in the Current Report on Form 8-K filed by the Company on October 2, 2020. As previously reported in the Current Report
on Form 8-K filed by the Company on November 20, 2020, the Company issued to each of Esousa Holdings, LLC, and two other institutional
investors (i) unsecured Promissory Notes (the &ldquo;<B>Notes</B>&rdquo;) in the aggregate principal face amount of $2,250,000,
with an interest rate of 12%, and (ii) warrants to purchase an aggregate of 1,323,531 shares of the Company&rsquo;s common stock,
at an exercise price of $1.87, subject to adjustments.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In addition, in accordance with the Agreement,
effective immediately upon the Closing, Peter Lappin was appointed to the position of Managing Director of Relec and John Alfred
Stone was appointed a director of Relec, and they shall serve in such capacity, in accordance with the terms of their Employment
Agreements, until the earlier of (A) December 31, 2023, or (B) their earlier resignation, death or permanent disability; and (ii)
Jonathan Read, Timothy Long and Karen Jay, were appointed to serve on the board of directors of Relec.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In accordance with the Agreement, Gresham
guaranteed all the payment obligations of Tabard including the Earn-out Payments and the Post-Closing Adjustment (as such terms
are defined in the Agreement) to the extent provided for in the Agreement. Notwithstanding such guaranty, Gresham shall have all
of the rights Tabard has against the Sellers and be entitled to assert any defenses against the Sellers which Tabard has against
them. If Tabard fails to discharge its guaranteed obligations when due, the guaranteed parties may at any time and from time to
time and so long as Tabard has failed to discharge the guaranteed obligations, take any and all actions available under the Agreement
or under applicable law to collect Gresham&rsquo;s liabilities pursuant to the Agreement in respect of such guaranteed obligations.
Gresham&rsquo;s liability thereunder is absolute, unconditional, irrevocable and continuing.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The foregoing description of the Agreement
and Loan Agreement does not purport to be complete and each is qualified in its entirety by reference thereto, which is annexed
hereto as <B><U>Exhibits 2.1</U></B> and <B><U>10.1</U></B>, respectively, to this Current Report on Form 8-K and is incorporated
herein by reference.&nbsp;&nbsp;The exhibits have been included to provide investors and stockholders with information regarding
its terms.&nbsp;&nbsp;It is not intended to provide any other factual information about the parties.&nbsp;&nbsp;The exhibits contains
representations and warranties that the parties thereto made to and solely for the benefit of each other, and the assertions embodied
in such representations and warranties are qualified by information contained in confidential disclosure schedules that the parties
exchanged in connection with signing the Agreement and Loan.&nbsp;&nbsp;Accordingly, investors and stockholders should not rely
on such representations and warranties as characterizations of the actual state of facts or circumstances, since they were only
made as of the date of the exhibits (or such other date as specified therein) and are modified in important part by the underlying
disclosure schedules.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 1in"><B>ITEM 2.03</B></TD><TD STYLE="text-align: justify"><B>CREATION OF A DIRECT FINANCIAL OBLIGATION OR AN OBLIGATION UNDER AN OFF-BALANCE SHEET ARRANGEMENT
OF A REGISTRANT.</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The information set forth in Item 1.01
is incorporated by reference herein.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Where You Can Find Additional Information</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Investors and security holders will be
able to obtain documents filed by the Company with the Commission free of charge at the Commission&rsquo;s website, <U>www.sec.gov</U>.&nbsp;&nbsp;Investors
and security holders may also read and copy any reports, statements and other information filed by the Company with the Commission,
at the SEC public reference room at 100 F Street, N.E., Washington D.C. 20549.&nbsp;&nbsp;Please call the Commission at 1-800-SEC-0330
or visit the Commission&rsquo;s website for further information on its public reference room.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 1in"><B>ITEM 7.01</B></TD><TD><B>REGULATION FD DISCLOSURE</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On November 30, 2020, the Company issued
a press release announcing that its wholly owned subsidiary, Gresham, has through its wholly owned subsidiary Tabard, acquired
Relec.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">A copy of the press release is furnished
herewith as&nbsp;<B><U>Exhibit 99.1</U></B>&nbsp;and is incorporated by reference herein.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In accordance with General Instruction
B.2 of Form 8-K, the information under this item, <B><U>Exhibit 99.1</U></B> shall not be deemed filed for purposes of Section
18 of the Securities Exchange Act of 1934, as amended, nor shall such information be deemed incorporated by reference in any filing
under the Securities Act of 1933, as amended, except as shall be expressly set forth by specific reference in such a filing. This
report will not be deemed an admission as to the materiality of any information required to be disclosed solely to satisfy the
requirements of Regulation FD.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Securities and Exchange Commission
encourages registrants to disclose forward-looking information so that investors can better understand the future prospects of
a registrant and make informed investment decisions. This Current Report on Form 8-K and exhibits may contain these types of statements,
which are &ldquo;forward-looking statements&rdquo; within the meaning of the Private Securities Litigation Reform Act of 1995,
and which involve risks, uncertainties and reflect the Registrant&rsquo;s judgment as of the date of this Current Report on Form
8-K. Forward-looking statements may relate to, among other things, operating results and are indicated by words or phrases such
as &ldquo;expects,&rdquo; &ldquo;should,&rdquo; &ldquo;will,&rdquo; and similar words or phrases. These statements are subject
to inherent uncertainties and risks that could cause actual results to differ materially from those anticipated at the date of
this Current Report on Form 8-K. Investors are cautioned not to rely unduly on forward-looking statements when evaluating the information
presented within.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 1in"><B>ITEM 9.01</B></TD><TD STYLE="text-align: justify"><B>EXHIBITS</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(a) <U>Financial Statements of Business Acquired.</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The financial statements required by this
Item, if any, with respect to the acquisition described in Item 2.01 herein, will be filed as an amendment to this report as soon
as practicable, and in any event not later than 71 days after the date on which this Current Report on Form 8-K is required to
be filed pursuant to Item 2.01 of Form 8-K.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(b) <U>Pro Forma Financial Information. </U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The pro forma financial information required
by this Item, if any, with respect to the acquisition described in Item 2.01 herein, will be filed as an amendment to this report
as soon as practicable, and in any event not later than 71 days after the date on which this Current Report on Form 8-K is required
to be filed pursuant to Item 2.01 of Form 8-K.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="background-color: white">(c) <U>Shell Company Transaction.</U></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="background-color: white">Not applicable.</font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(d)&nbsp;<U>Exhibits</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; background-color: white; border-collapse: collapse">
<TR>
    <TD STYLE="width: 6%; border-bottom: black 1pt solid"><B>Exhibit <BR>
No.</B></TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 93%; border-bottom: black 1pt solid"><B>Description</B></TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: #CCEEFF">
    <TD>2.1</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify"><A HREF="https://www.sec.gov/Archives/edgar/data/896493/000121465920009282/ex2_1.htm">Stock Purchase Agreement by and among Tabard Holdings, Inc., Gresham Worldwide, Inc., certain sellers of Relec Electronics Ltd., and Peter Christopher Lappin, dated as of November 9, 2020. (Incorporated by reference to the Current Report on Form 8-K filed by the registrant on November 10, 2020)</A></TD></TR>
<TR STYLE="vertical-align: top; background-color: Transparent">
    <TD>99.1</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify"><A HREF="ex99_1.htm">Press Release issued by the registrant on November 30, 2020.</A></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-align: left"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-align: left"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SIGNATURES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Pursuant to the requirements of the Securities
Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>DPW HOLDINGS, INC.</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">Date: November 30, 2020</TD>
    <TD STYLE="width: 5%">By:</TD>
    <TD STYLE="width: 45%"><U>/s/ <I>Milton C. Ault, III</I></U></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Milton C. Ault, III</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Chief Executive Officer</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

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<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right; text-indent: 0in"><B>Exhibit 99.1</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; font-size: 10pt"><IMG SRC="dpw_logobig.jpg" ALT="">&nbsp;</TD>
    <TD STYLE="text-align: right; width: 50%; font-size: 10pt"><IMG SRC="gresham_logo.jpg" ALT="">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>DPW Holdings&rsquo; Gresham Worldwide
Global Defense Business Acquires Relec Electronics Ltd in the UK</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Newport Beach, CA, November 30, 2020 --
DPW Holdings, Inc. (NYSE American: DPW) a diversified holding company (&ldquo;<B>DPW</B>,&rdquo; or the &ldquo;<B>Company</B>&rdquo;)
announced that its global defense business, Gresham Worldwide, Inc. (&ldquo;<B>Gresham Worldwide</B>&rdquo;), has acquired Relec
Electronics Ltd. (&ldquo;<B>Relec</B>&rdquo;), based in England. The transaction was structured as a stock purchase under which
Gresham Worldwide paid approximately $4,000,000 with additional contingent cash payments up to approximately $665,000 based on
Relec&rsquo;s future financial performance. The transaction closed today.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Relec, established in 1978, is an English
supplier of power conversion and display technology products in the industrial, rail transportation and emerging electronic markets.
Gresham Worldwide&rsquo;s English subsidiary, Gresham Power Electronics, has been designing and manufacturing highly reliable power
electronics for naval and industrial markets for more than fifty years. The acquisition of Relec enhances Gresham Worldwide&rsquo;s
presence in the U.K. and Europe and considerably broadens its product portfolio, including high-quality power conversion and display
product offerings. This strategic business combination provides Relec opportunities to offer value-added services to its blue-chip
customer base, while enabling Gresham Power Electronics to expand into rail and other industrial markets.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The acquisition is expected to be immediately
accretive and includes approximately $1.2 million of net tangible assets. Relec recorded revenue of approximately $7 million and,
excluding one-time discretionary items, adjusted pretax income of approximately $1.1 million for its fiscal year ended February
29, 2020. Like many other companies across the globe, the COVID-19 pandemic has put downward pressure on Relec&rsquo;s financial
results since March 2020, which resulted in an approximate 20% decrease in revenue for the six months ended August 31, 2020. However,
based upon a strong backlog of orders and Relec&rsquo;s exceptional customer relationships, the Company believes the recent decrease
in revenue will be short-lived and that, beginning in 2021, Relec will be well positioned for solid, long-term financial performance.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Gresham Power Electronics and Relec will
continue to operate as stand-alone businesses, though they have established a joint management committee. Peter Lappin, Managing
Director and the Relec management team will remain as employees of Relec at least throughout the earnout period.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Jonathan Read, Gresham Worldwide&rsquo;s
CEO, stated, &ldquo;This combination provides a great opportunity for Relec and Gresham Worldwide to benefit from the strengths
of each organization. We are thrilled that Peter Lappin and the Relec team will bring to Gresham Worldwide the technical expertise,
customer focus, quality products and commitment to outstanding service that enabled them build such a successful business.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&ldquo;Teaming these operations significantly
increases the Gresham Worldwide footprint the UK and Europe while broadening its technology portfolio with high-quality power conversion
and display product offerings,&rdquo; said Karen Jay, Managing Director at Gresham Power Electronics Ltd &ldquo;The combination
of Relec with Gresham Power provides scale, technical capabilities, and technology solution offerings to drive growth in the UK
and Europe.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Peter Lappin said, &ldquo;Everyone at
Relec is looking forward to becoming part of the Gresham Worldwide group. Joining forces will provide Relec with additional resources
to offer more value-added services to our blue-chip customer base while increasing sales coverage and market reach for our innovative
supply chain partners. Working with other Gresham Worldwide companies will also create opportunities for Relec to increase sales
of its innovative power and display technology solutions into defense, marine, aerospace and telecommunications markets.&rdquo;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; font-size: 10pt"><IMG SRC="dpw_logobig.jpg" ALT="">&nbsp;</TD>
    <TD STYLE="text-align: right; width: 50%; font-size: 10pt"><IMG SRC="gresham_logo.jpg" ALT="">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&ldquo;We are very excited about the acquisition
of Relec Electronics as it provides new top-line revenue, a talented team and clear synergies with Gresham Worldwide,&rdquo; said
Milton &ldquo;Todd&rdquo; Ault, III, the Company&rsquo;s CEO and Chairman.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">For more information on DPW and its subsidiaries,
the Company recommends that stockholders, investors and any other interested parties read the Company&rsquo;s public filings and
press releases available under the Investor Relations section at www.DPWHoldings.com or available at www.sec.gov.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>About DPW Holdings, Inc.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">DPW Holdings, Inc. is a diversified holding
company pursuing growth by acquiring undervalued businesses and disruptive technologies with a global impact. Through its wholly
and majority-owned subsidiaries and strategic investments, the Company provides mission-critical products that support a diverse
range of industries, including defense/aerospace, industrial, telecommunications, medical, and textiles. In addition, the Company
extends credit to select entrepreneurial businesses through a licensed lending subsidiary. DPW&rsquo;s headquarters are located
at 201 Shipyard Way, Suite E, Newport Beach, CA 92663; www.DPWHoldings.com.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>About Gresham Worldwide</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Gresham Worldwide, Inc. is a provider of
high-quality, ultra-reliable bespoke technology solutions for mission-critical applications in the defense, medical and telecommunications
verticals. The four component companies under the leadership of CEO, Jonathan Read, are Microphase Corporation, Enertec Systems
2001 Ltd., Gresham Power Electronics Ltd. and Relec Electronics Ltd. Each has decades of experience serving global defense and
technology markets. Gresham Worldwide operates with a global footprint with headquarters in Phoenix, Arizona, an office in Washington
D.C. and design and operations centers in Shelton, Connecticut, Salisbury, U.K., Wareham, U.K. and Karmiel, Israel.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>About Relec</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Relec Electronics Ltd was established in
1978 with the aim of providing specialist power conversion and display products to support professionals in the electronics industry.
Relec&rsquo;s aerospace background means it consistently and meticulously delivers high performance and robust power and display
solutions. Relec exerts its utmost effort to customize a product or a feature to achieve optimum performance and service delivery.
Relec continues to be guided by this philosophy and currently operates in specific fields, specializing in AC-DC Power Supplies,
DC-DC Converters, Displays and EMC Filters.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Forward-Looking Statements</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">This press release contains &ldquo;forward
looking statements&rdquo; within the meaning of Section&nbsp;27A of the Securities Act of 1933, as amended, and Section&nbsp;21E
of the Securities Exchange Act of 1934, as amended.&nbsp;These forward-looking statements generally include statements that are
predictive in nature and depend upon or refer to future events or conditions, and include words such as &ldquo;believes,&rdquo;
&ldquo;plans,&rdquo; &ldquo;anticipates,&rdquo; &ldquo;projects,&rdquo; &ldquo;estimates,&rdquo; &ldquo;expects,&rdquo; &ldquo;intends,&rdquo;
&ldquo;strategy,&rdquo; &ldquo;future,&rdquo; &ldquo;opportunity,&rdquo; &ldquo;may,&rdquo; &ldquo;will,&rdquo; &ldquo;should,&rdquo;
&ldquo;could,&rdquo; &ldquo;potential,&rdquo; or similar expressions. Statements that are not historical facts are forward-looking
statements. Forward-looking statements are based on current beliefs and assumptions that are subject to risks and uncertainties.
Forward-looking statements speak only as of the date they are made, and the Company undertakes no obligation to update any of them
publicly in light of new information or future events. Actual results could differ materially from those contained in any forward-looking
statement as a result of various factors.&nbsp;More information, including potential risk factors, that could affect the Company&rsquo;s
business and financial results are included in the Company&rsquo;s filings with the U.S. Securities and Exchange Commission, including,
but not limited to, the Company&rsquo;s Forms 10-K, 10-Q and 8-K. All filings are available at&nbsp;www.sec.gov and on the Company&rsquo;s
website at www.DPWHoldings.com.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><U>Contacts: </U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="color: blue"><U>IR@DPWHoldings.com</U></FONT>
or 1-888-753-2235</P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
