Item 1.01 Entry into a Material Definitive Agreement.

On May 17, 2021, Document Security Systems, Inc.'s (the "Company") wholly owned subsidiary, DSS PureAir , Inc., a Texas corporation ("DSS PureAir"), closed on a Securities Purchase Agreement ("Purchase Agreement") with Puradigm LLC, a Nevada limited liability corporation ("Puradigm"). Pursuant to the terms of the Purchase Agreement, DSS PureAir agreed to purchase from Puradigm a secured convertible promissory note in the maximum principal amount of $5,000,000.00 (the "Puradigm Note"). The Puradigm Note has a two year term with interest at 6.65% payable quarterly. All, or part of the Puradigm Note principal balance can be converted at the sole discretion of DSS PureAir for up to an 18% membership interest in Puradigm LLC. The Puradigm Note is secured by all the assets of Puradigm under a security agreement with Puradigm.

The foregoing description of the terms and conditions of the Purchase Agreement and Puradigm Note are not complete and are qualified in their entirety by reference to the full text of the Purchase Agreement and the Puradigm Note, a copies of which are attached as exhibits hereto.




Item 8.01 Other Events.

On May 19, 2021, the Company issued a press release relating to the Purchase Agreement and Puradigm Note. A copy of this press release is filed as Exhibit 99.1 hereto, and incorporated herein by reference.

Item 9.01 Financial Statements and Exhibits.





(d) Exhibits:



Number   Description
10.1       Securities Purchase Agreement dated May 14, 2021
10.2       Secured Convertible Note dated May 14, 2021
99.1       Press Release issued May 19, 2021

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