VSYM News View Systems Raises Capital to Clear Backlog and Fuel Operations

2012-04-18 09:15 ET - News Release

BALTIMORE, MD -- (Marketwire) -- 04/18/12

View Systems, Inc. (OTCBB: VSYM), a weapons detection and access control provider, announced today the company has raised significant capital to clear existing orders and provide the resources to expand the technology and business growth.

View Systems currently has a backlog in excess of $400,000 for Secure Scan Portals and another $120,000 in First Responder Units. Through a new relationship with an Investment Banking Firm in Atlanta, Georgia the company has raised the necessary capital to rapidly manufacture the units to complete its existing backlog. The company will begin manufacturing 40 secure scan portals for existing orders.

View will also earmark funds towards enhancing the Secure Scan portal with Facial Recognition Technology and expanding its sales and marketing operations. Incorporating Facial Recognition technology into the secure scan portal eliminates the need for identification cards, a major burden for school systems. Resources will be devoted to new Director John Radamaker's business development division to expand the department's sales staff.

"In order to take the company to the next level we needed to raise the necessary resources to implement our plan," commented Chairman Dr. Martin Maasen. "The investment banking firm we have partnered with are interested in a seeing the expansion of our technology in the marketplace. They are providing the capital for us to clear the existing backlog, maintain an inventory of finished goods, and acquire the right personal to guide this company forward. We are seeing increased demand for this technology, we now have the ability to meet the demand