DirectView Successfully
Enters Into
Agreement to
Retire Outstanding
Convertible Debt
Agreement
New Settlement Agreement Allows Company to
Retire Convertible Debt Agreement
Providing Approximately
$250,000 Plus in
Savings to the Company, Continuing Our Ongoing
Business Plans
New York, NY
-- October
16,
2018 --
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,
announced today that the Company successfully
restructured all outstanding debt with an existing lending
partner. The
company settled
over $1.4
million dollars of convertible debt for an agreement to pay $1.2
million dollars cash over
a three
month period.
As
part of the settlement, the lender also
agreed to an immediate lock up on all of
its
convertible notes and no further
conversions.
Roger Ralston,
DirectView's CEO stated:
"DirectView's
ability
to restructure
our debt is of large
importance as we continue our
forward direction. Restructuring
our current debt further
supports our ongoing business plans, including our
acquisition and organic
growth strategy." Mr.
Ralston added:
"We continue
to invest heavily in people, process,
and
technology, with the goal of significantly transforming our
industry and customer experience. I continue to believe
the timely
execution of our business transformation plans will drive
our
sales and
gross profit results for
2018, while
solidifying
the foundation
for future growth."
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