Company sees significant opportunity for its security related products and services to help companies meet the specific needs of the rapidly evolving cannabis industry
NEW YORK , February 20, 2014 /PRNewswire/ --
DirectView Holdings, Inc. (OTC: DIRV), a company focused on ownership and management of leading video and security technology companies, today announced that its wholly owned subsidiary, DirectView Security Systems, Inc. ("DirectView Security"), has begun early stage discussions with several marijuana industry companies to provide a number of potential video surveillance and access control solutions.
DirectView Security sees tremendous growth potential for the Company in this rapidly evolving industry as companies scramble to develop a foothold and meet the ever changing legal requirements for security for both growers and dispensaries. According to several published reports typical dispensaries will need to employ dozens of security cameras, motion detectors, infrared sensors, and 24/7 recording. At most dispensaries, those entering must pass through three doors, show ID and present a verified doctor's note. With the sale of medical marijuana being approved and rolled out in over 18 states and the sale of marijuana for recreational use already approved in Colorado and Washington , this industry is experiencing rapid growth. According to an April 2013 article published in the Wall Street Journal, an estimated 2,000 to 4,000 businesses produce marijuana legally under state laws.
In each state a marijuana related company must meet strict guidelines for security and these requirements often vary. In Massachusetts, for example, according to a February 2014 article in the Boston Globe, the law requires video cameras to be installed and operating in all areas that contain marijuana: in parking lots, safes, vaults, sales areas, and in grow houses where marijuana is cultivated, harvested, processed, and dispensed. The article also cited that in recent years, robberies stretching from Colorado to California have been attributed to the flow of cash and lack of access to banks, plus the street value of stolen marijuana further emphasizing the need for security.
DirectView Security, which currently provides an array of video and surveillance solutions for customers that include major international hotels, real estate development companies, and educational institutions believes it is uniquely positioned to capitalize on the security needs of the marijuana industry as many large players have chosen to avoid the industry at this time and most small companies lack the experience of providing a full turnkey solution that will conform to strict guidelines. DirectView intends to aggressively pursue the potential opportunities in its current pipeline and work to expand its marketing efforts to this industry in 2014.
Commenting on the announcement, Roger Ralston , CEO and Chairman of DirectView, stated, "We see this industry as a natural fit for DirectView Security as we have a unique skill set to meet very intricate security needs. Having worked to provide security products and solutions for large hotels, and several banks we have a strong understanding of complex security needs and how to provide the most cost effective solutions. We are excited about working to establish a footprint in this fast growing industry and believe this could represent a strong growth driver for our business in the coming years."
About DirectView: 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 our websites at http://www.DirectViewSecurity.com / http://www.DirectViewInc.com
Safe Harbor Statement: The Private Securities Litigation Reform Act of 1995 provides a safe harbor for forward-looking information made on the company's behalf. All statements, other than statements of historical facts, which address the company's expectations of sources of capital or which express the company's expectation for the future with respect to financial performance or operating strategies can be identified as forward-looking statements. Such statements made by the company are based on knowledge of the environment in which it operates, but because of the possibility of unknown factors, as well as other factors beyond the control of the company, actual results may differ materially from the expectations expressed in the forward-looking statement. An investment in our common stock involves a significant degree of risk. You should not invest in our common stock unless you can afford to lose your entire investment. You should consider carefully all risk factors and other information in our annual report and quarterly filings before deciding to invest in our common stock. If any of the following risks and uncertainties develops into actual events, our business, financial condition or results of operations could be materially adversely affected and you could lose your entire investment in our company.
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
+1-212-567-1800 EXT. 111
http://www.DirectViewInc.com
http://www.DirectViewSecurity.com
IR@DirectViewInc.com
SOURCE DirectView Holdings, Inc.
Source: PR Newswire (February 20, 2014 - 8:05 AM EST)
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