DirectView CEO to Reduce Debt by $1.8M in
Show of Confidence
DirectView CEO Exchanges $1.8M Debt For
Preferred Shares
NEW YORK, NY
-- March 13, 2019 -- InvestorsHub
NewsWire -- DirectView Holdings, Inc.
(OTC:DIRV)
("DirectView" or the "Company"), a company focused on ownership and
management of leading video and security technology companies,
today announced that, in a show of
confidence, the Company's
Chairman
and CEO, Roger
Ralston, is taking approximately
$1.8M in debt
owed to him from DirectView (consisting of money he
invested, along
with accruded salary), and
has agreed
to convert that debt into
equity of
the the company or
preferred
shares.
For DirectView
Holdings Chairman and CEO, Roger
Ralston, the exchange of debt
for additional
equity in the
Company, reinforces his
positive outlook on DirectView. This
comes as
part of
a
roll-up strategy
Mr.
Ralston initiated
to
reduce debt and
support DirectView's ongoing business plans; including its acquisition and
growth strategy. The CEO's exchange of debt to
equity is
the next step in the Company's roll-up
strategy to reduce debt and tighten its balance
sheet,
following DirectView's previously announced settlement agreement to
retire outstanding convertible debt [see DirectView Successfully Enters
Into Agreement to Retire Outstanding Convertible Debt
Agreement].
For DirectView
Holdings' subsidiaries, confidence in
the Company is at an all-time high, as the Company's wholly-owned
e-retailer, ApexCCTV.com, recorded an increase in orders and
revenue of 172%, and 185%, respectively. The addition of Smart Home
Products like Google's (GOOG) "Home", "Nest", and Amazon's
(AMZN) "Ring" doorbell
products, have been strong contributing
factors for ApexCCTV's
record-breaking
increases.
DirectView
Holdings' management share a similar
outlook as the Company works diligently on
completing the previously announced
letter of intent (LOI) to acquire 100% of the business assets of a
nationwide security, surveillance, and low voltage supply
company, whose 2018 unaudited
revenues were reported to be in excess of $45
million. As reported,
management looks to close the
transaction
in short
order.
[see DirectView Proceeds with Next
Phase of Acquisition].
Roger
Ralston, Chairman and CEO of
DirectView, said,
"For
any successful holding company, an outlook that
instills confidence
among management
and subsidiaries is a real morale booster, and
it's a critical component to
future growth,
productivity, and success. I'm happy to report that in
our case, this outlook is shared among all of our team
members. DirectView Holdings is having
a stellar year thus far with Virtual Surveillance
and
DirectView Security Systems
finishing several
projects, ApexCCTV reporting record sales and traffic, and our
management working diligently on closing our next big
acquisition. As a firm believer in DirectView, I am opting to
exchange the $1.8M owed to me
[from
DirectView] for the preferred shares
of a
Company
I am
confident in and commited to."
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, http://www.ApexCCTV.com, http://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.
Contact:
DirectView Holdings,
Inc.
Roger Ralston
1-212-858-9100 EXT.
111
IR@DirectView.com
http://www.DirectView.com