DirectView Successfully Completes Reverse Stock Split As Part
Of Its Corporate Growth Strategy - Effective May 22, 2017
NEW YORK, NY -- May 26, 2017 -- InvestorsHub NewsWire --
DirectView Holdings, Inc. (DIRVD) ("DirectView" or the
"Company"), a company focused on ownership and management of
leading video and security technology companies, today announced
the Company completed a reverse split of its common stock at a
ratio of 1:200, that went effective at the open of trading, May 22,
2017.
The Company is now trading under the ticker symbol DIRVD for 20
trading days following the effective date to designate that it is
trading on a post-reverse split basis. DirectViews
post-split common stock will trade under the new CUSIP Number
25457N401. As a result of the reverse stock split, each 200
pre-split shares of common stock outstanding are automatically
combined into one new share of common stock without any action on
the part of the respective holders holding shares in a brokerage
account, and the number of outstanding common shares have been
reduced from approximately 1.0 billion shares to approximately 4.9
million shares. The reverse stock split also applies to
common stock issuable upon the conversion of outstanding notes
payable and convertible preferred stock, and upon the exercise of
outstanding warrants and stock options.
The Company's transfer agent, Standard Registrar and Transfer
Company, Inc, will provide instructions to stockholders holding
shares in certificate form regarding the process for exchanging
shares. No fractional shares will be issued as a result of the
reverse stock split, and stockholders who otherwise would be
entitled to a fractional share will receive, in lieu thereof, a
cash payment which will equal the product obtained by multiplying
(a) the fraction to which the stockholder would otherwise be
entitled; by (b) the per share closing sales price of the Companys
common stock on the effective date of the reverse stock split.
2017 has already been an exciting and transformative year for
DirectView with our recent acquisition of Virtual Surveillance, LLC
and ApexCCTV, LLC placing our Company on a revenue run rate in
excess of $6 million, said Roger Ralston, CEO and Chairman of
DirectView. We believe the completion of this reverse split is
another important step in the implementation of our roll-up
strategy of security and surveillance related companies that will
be accretive to both revenue and profitability. We are already
seeing increased business activity at our newly acquired
subsidiaries as well as with other potential acquisition targets.
We look forward continuing to execute on our strategic plan in
order to build long term value for the benefit of our
stockholders.
The companies other recent news may be found at https://directview.com/press-releases/
About DirectView Holdings, Inc.
DirectView Holdings, Inc., (DIRV)
together with its subsidiaries, provides video surveillance
solutions and teleconferencing products and services to businesses
and organizations. The company operates in two divisions, Security
(Video Surveillance) and Video Conferencing. The Security division
offers technologies in surveillance systems providing onsite and
remote video and audio surveillance, digital video recording, and
services. It also sells and installs surveillance systems; and
sells maintenance agreements. The company sells its products and
services in the United States and internationally through direct
sales force, referrals, and its Websites. The Video Conferencing
division offers teleconferencing products and services that enable
clients to conduct remote meetings by linking participants in
geographically dispersed locations. It is involved in the sale of
conferencing services based upon usage, the sale and installation
of video equipment, and the sale of maintenance agreements. This
division primarily provides conferencing products and services to
numerous organizations ranging from law firms, banks, high tech
companies and government organizations. For more information visit
our website at www.DirectView.com and connect with
us on Twitter, LinkedIn, Facebook, and Google+.
Contact:
DirectView Holdings, Inc.
Roger Ralston
+1-212-858-9100 EXT. 111
www.DirectView.com
IR@DirectView.com
Cautionary Statement Regarding Forward Looking Statements
Forward Looking Statements: This press release contains
forward-looking statements that involve a number of risks and
uncertainties, including statements regarding the outlook of the
Company's business and results of operations. By nature, these
risks and uncertainties could cause actual results to differ
materially from those indicated. Generally speaking, any statements
using terms such as "will," "expect," "anticipate," or "may," or
which otherwise predict or address future results or events, are
likely to contain forward-looking statements. It is important to
note that actual results may differ materially from what is
indicated in any forward-looking statement. Readers should consider
any forward-looking statements in light of factors that could cause
actual results to vary. These factors are described in our filings
with the SEC, and readers should refer to those filings, including
Risk Factors described in those filings, in connection with any
forward-looking statements. The Company disclaims any intention or
obligation to update or revise any forward-looking statements,
whether as a result of new information, future events or otherwise.
The Company is unable to make any assurances that it will receive
financing, or if financing is available, that such financing will
be on terms acceptable to the Company.