SeeThruEquity Issues Update on DirectView Holdings, Inc. (OTC: DIRV / OTC: DIRVD
August 16 2016 - 10:50AM
InvestorsHub NewsWire
SeeThruEquity Issues Update on DirectView Holdings, Inc.
(OTC: DIRV / OTC: DIRVD), Highlighting Reverse Stock Split and
Adjusted Price Target of $0.20
NEW YORK, NY -- August 16, 2016 -- InvestorsHub NewsWire
-- SeeThruEquity, a leading independent equity research and
corporate access firm focused on smallcap and microcap public
companies, today announced it has issued an update note on
DirectView Holdings, Inc. (OTC: DIRV / OTC: DIRVD).
The report is available here: DIRV August
Update Note.
Highlights from the update are as follows:
DIRV advancing BWC initiative with strategic partnership
DIRV has made notable progress advancing its new body-worn camera
product lineup in the last year. The company received its first
product run of the high definition DV-x1 in March, and has been
actively engaging potential law enforcement and private security
customers across five states since that time. With recent current
events making more urgent the need to protect and hold accountable
law enforcement and the people with whom it interacts, the DV-x1
should be hitting the market at an opportune time. Management has
also been engaging in strategic co-marketing partnerships with
consulting companies targeting law enforcement agencies as it seeks
to build initial reference customers for the DV-x1 and accelerate
sales. Management has already shown its ability to execute
strategic partnerships in the past, such as its deal with XGTI to
integrate its "xMax" private mobile broadband technology in to its
products and jointly promote the DV-x1.
Reverse split completed August 2, 2016
DIRV CEO Roger Ralston announced that DirectView completed a 1:35
reverse stock split on August 2, 2016. The announcement estimated
new basic shares outstanding at 23mn. In our view the reverse split
is the prudent course of action given the rise in shares
outstanding after capital raising activities by the company over
the last year to fund operations and develop / promote the new body
worn camera product line caused significant dilution. DirectView
shares will trade under the ticker DIRVD temporarily to reflect
this action.
Adjusting price target to $0.20
We are updating our price target for DirectView to $0.20 to reflect
the reverse split and issuances of new shares and convertible
securities that exceeded our initial thinking. We continue to see
the company as a speculative investment in the rapidly growing
market for body-worn cameras in law enforcement. Recent current
events clearly highlight the growing need for BWCs such as
DirectView's DV-x1 for both law enforcement officials as well as
those with whom they interact. We are hopeful that the company's
new product line is hitting the market at the right time and that
DIRV can begin to show sales leverage from its BWC development
efforts over the next 12-18 months. Mitigating this view are the
considerable financial and operational challenges faced by the
company due to a weak balance sheet and negative cash flows.
Please review important disclosures
at www.seethruequity.com.
About DirectView Holdings, Inc.
DirectView Holdings, Inc., together with its subsidiaries, provides
teleconferencing 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 www.DirectView.com.
About SeeThruEquity
Since its founding in 2011, SeeThruEquity has been committed to its
core mission: providing impactful, high quality research on
underfollowed smallcap and microcap equities. SeeThruEquity has
pioneered an innovative business model for equity research that is
not paid for and is unbiased. SeeThruEquity is the host of
acclaimed investor conferences that are the ultimate event for
publicly traded companies with market capitalizations less than $1
billion.
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