NEW YORK, June 20, 2017 /PRNewswire/ --
Roger Ralston, CEO of DirectView Holdings, Inc. (OTCQB:
DIRV) ("DirectView" or "the Company"), has issued
the following letter to shareholders:
Dear Shareholders,
I am happy to issue this midyear letter in the
midst of several exciting developments at the Company.
The most significant development, as was announced in late
April, was the completion of the acquisition of Video Surveillance,
LLC and ApexCCTV, LLC, two Texas-based video security and surveillance
companies. These two companies, operated and solely owned by
Mark D. Harris, achieved unaudited
revenues in excess of $5.3 million in
2016. I am pleased with how quickly we have been able to integrate
these businesses with our DirectView Security business and see
sales at these two subsidiaries tracking significantly ahead of
last year's pace. In fact, I believe we are well on our way to
reaching our goal of ending 2017 at a $7
million annual revenue run rate with our current
operations.
As we continue to move forward with our strategy of acquiring
businesses and Internet-based commerce sites in the security and
cyber security fields, we believe the success of these acquisitions
will serves as a model for the future. We are confident that
through prudent acquisitions and organic growth we can generate
significant shareholder value and build a world-class company in
security and surveillance.
Looking toward the future, we will be focused on a number of key
objectives to achieve success. I would like to comment on what I
see as our 4 main objectives:
1) Building a World-class Team
The path toward success starts with having the right team in
place, and part of the focus in our recent acquisition was putting
that team in place. I could not be happier about the addition of
Mark D. Harris to our management
team. Mark, who now serves as President of our Apex CCTV and
Virtual Surveillance subsidiaries, is a technology services veteran
with a proven track record of building profitable revenue growth.
He served for 19 years at Intervoice (formerly traded as NASDAQ:
INTV). As Senior Vice President of Americas Operations and Global
Services at Intervoice, he led a team, which was responsible for
pioneering the execution of a new Enterprise Hosted Solutions
business, to support advanced self service applications and
intelligent transactions. Beginning in 2008, upon the acquisition
of Intervoice by Convergys Corporation (CVG), he served as Senior
Vice President of Global Technology Services at Convergys
Corporation through 2014. Mark's extensive experience in M&A
integration, business development and strategic planning will be
critical to our future success as we grow organically and through
acquisition. In addition, the talented consulting team at Virtual
Surveillance provides a significant complimentary resource for our
DirectView Security subsidiary in sourcing large scale business
opportunities throughout the country.
2) Expanding Our Existing Operations
Thanks to the dedication and hard work of our whole team, we
have been able to integrate our new ApexCCTV And Virtual
Surveillance subsidiaries under the DirectView umbrella in a very
short period of time. This has enabled us to focus on expanding
both of these operations to drive revenue growth. Our recent
exclusive marketing campaign specific to four Samsung surveillance
products through our www.ApexCCTV.com website is a great
example of how we are already expanding our e-commerce business
that currently offers more than 600 security and
surveillance-related products. In the coming months we expect to
run more exclusive offerings and offer a wider variety of top items
to build our Internet brand as the destination for quality products
at value pricing. We will also be significantly upgrading our web
presence with a new functionality, look and feel to our websites
designed to enhance the overall customer experience. At our Virtual
Surveillance www.VS-US.com subsidiary, we are building on a
business that has a nationwide footprint and significant national
accounts. We have already accelerated our marketing efforts
focusing on larger scale opportunities for full service security
installations and we are excited by some of the sales opportunities
in front of us. I look forward to reporting on our progress in this
area in the coming quarters.
3) Growth Through Acquisition
As we have discussed in the past, our vision is to build a
diversified security and surveillance company that serves as a
destination for e-commerce and provides sophisticated customized
security solutions for businesses of any size. We see a significant
opportunity to acquire synergistic companies that will expand our
presence geographically while increasing the depth of the products
and services we offer to customers. We believe this industry, which
is comprised of a significant number of small privately held
companies, provides us with the opportunity to implement an
aggressive but prudent roll-up strategy to create significant
corporate value. Our strategic focus is on isolating businesses
that will be accretive to our overall financial performance and we
intend to apply a disciplined focus of structuring transactions
based on EBITDA, our ability to integrate the business, and overall
growth potential. In e-commerce, we will look to acquire businesses
that will add additional customers and widen our product offerings
in both business and home security. For customized solutions, we
will focus on capabilities and customer base. We are evaluating
opportunities on a consistent basis and we are confident in our
ability to drive future business growth through this strategy.
4) Expanding Margins and Overall Financial
Performance
Our first two acquisitions, when coupled with our current
operations, provide us with a solid foundation to build for the
future. With our revenue scaling upward, we have reached a certain
level of critical mass to enable us to achieve better pricing
through higher purchasing levels. We are working with our suppliers
to create partnerships to sell security devices through our
e-commerce business that will also help us lower the cost of our
customized security solutions. We can also achieve additional
savings through centralized management of numerous business
functions. As we layer on additional companies this will only
increase our leverage and enhance our bottom line results.
In conclusion, we are very excited about the transformation of
our company over these first six months of 2017 and we remain
focused on driving consistent growth throughout the remainder of
this year and in the years to come. We have a strong team in place
as well as an expanding sales and distribution network. Our
platform can represent a significant value opportunity for the
businesses we will seek to acquire and we are committed to being
disciplined in our acquisition approach. We have improved our
capital structure and are continuing to work on creating lasting
value for our shareholders by building a solid revenue base as a
foundation for future growth.
As our company grows and meets its objectives, we will remain
committed to communicating word of our progress to all of our
stakeholders. I once again thank you for being a supporter of
DirectView Holdings, Inc., and hope you find this update and
transparency into the Company valuable.
Roger H. Ralston
Chief Executive Officer
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
websites at http://www.DirectView.com, www.ApexCCTV.com,
www.VS-US.com and connect with us on Twitter, LinkedIn,
Facebook, and Google+.
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.
Contact:
DirectView Holdings, Inc.
Roger H. Ralston
+1-212-858-9100 EXT. 111
IR@DirectView.com
http://www.DirectView.com
SOURCE DirectView Holdings, Inc.