DIRV: DIRECTVIEW HOLDING COM USD0.001 (OTCMKTS:DIR
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Posted On: 04/28/2017 5:52:59 PM
DIRV: DIRECTVIEW HOLDING COM USD0.001 (OTCMKTS
IRV)
DIRECTVIEW HOLDING COM USD0.001 (OTCMKTS IRV) is a security technology company based in Boca Raton, FL. The company began operations in 1995 and provides security solutions to the residential, commercial, and industrial sectors. Some of its better-known clients include AT&T, Coca-Cola, Marriott Corporation, The New York Police Department, Waste Management, and Sprint. Interestingly, they also claim expertise in security solutions for one of the nation’s fastest growing industries – legalized cannabis.
Today DIRECTVIEW HOLDING COM USD0.001 (OTCMKTS IRV) announced the acquisition of two privately held security and surveillance companies located in Texas. Video Surveillance, LLC and Apex CCTV, LLC have combined revenues of approximately $5.3 million. The terms of the purchases included a cash payment, due six months from today, of $1.9 million. Upon the successful completion of a two year audit of the two acquired companies in accordance with U.S. GAAP accounting standards for FY2016 and FY2015; DirectView will pay an additional amount ranging from $2,000 up to $500,000. The actual amount will be based on the positive average annual cash flow achieved in those two years. DIRECTVIEW HOLDING COM USD0.001 (OTCMKTS IRV) intends to pursue financing arrangements for the payments. As part of the agreement, Mark Harris, a 25-year securities technology professional, will enter into a binding three-year employment contract and serve as president of the two firms. Roger Ralston, CEO and Chairman of DIRECTVIEW HOLDING COM USD0.001 (OTCMKTS IRV), stated, “The acquisition of these companies is a very exciting transformational event for DirectView as we position for current and future growth. Mr. Harris has built two businesses that in less than three years, are generating substantial revenue and, more importantly, positive cash flow. He also has a wealth of technology management experience that will be invaluable for DirectView as we execute our strategic growth plan.”
As a result of a smaller sales force, DIRECTVIEW HOLDING COM USD0.001 (OTCMKTS IRV) experienced a sales drop of 48% in 2016 when compared to 2015. That sales loss was also reflected by a decrease of 62% in the cost of product from 2015 to 2016.
It is encouraging that the company has taken steps to broaden its footprint and expand its product offering. Direct View’s own SEC filing expressed the possibility that the company may not continue to function as a going concern. “The Company will require additional funding to finance the growth of its current and expected future operations as well as to achieve its strategic objectives. The
Company believes its current available cash along with anticipated revenues may be insufficient to meet its cash needs for the near future. There can be no
assurance that financing will be available in amounts or terms acceptable to the Company, if at all.” Investors should keep themselves attentive to developments.
I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 96 hours. All information, or data, is provided with no guarantees of accuracy.
About the author: Marc has a degree in economics and a MSc. in Finance. Over his 20-year career, Marc has worked for global investment firms in Europe and the United States as an analyst, fund manager, and consultant.
http://stocknewsunion.com/directview-holding-...ions/4086/
IRV) DIRECTVIEW HOLDING COM USD0.001 (OTCMKTS
IRV) is a security technology company based in Boca Raton, FL. The company began operations in 1995 and provides security solutions to the residential, commercial, and industrial sectors. Some of its better-known clients include AT&T, Coca-Cola, Marriott Corporation, The New York Police Department, Waste Management, and Sprint. Interestingly, they also claim expertise in security solutions for one of the nation’s fastest growing industries – legalized cannabis. Today DIRECTVIEW HOLDING COM USD0.001 (OTCMKTS
IRV) announced the acquisition of two privately held security and surveillance companies located in Texas. Video Surveillance, LLC and Apex CCTV, LLC have combined revenues of approximately $5.3 million. The terms of the purchases included a cash payment, due six months from today, of $1.9 million. Upon the successful completion of a two year audit of the two acquired companies in accordance with U.S. GAAP accounting standards for FY2016 and FY2015; DirectView will pay an additional amount ranging from $2,000 up to $500,000. The actual amount will be based on the positive average annual cash flow achieved in those two years. DIRECTVIEW HOLDING COM USD0.001 (OTCMKTS IRV) intends to pursue financing arrangements for the payments. As part of the agreement, Mark Harris, a 25-year securities technology professional, will enter into a binding three-year employment contract and serve as president of the two firms. Roger Ralston, CEO and Chairman of DIRECTVIEW HOLDING COM USD0.001 (OTCMKTS IRV), stated, “The acquisition of these companies is a very exciting transformational event for DirectView as we position for current and future growth. Mr. Harris has built two businesses that in less than three years, are generating substantial revenue and, more importantly, positive cash flow. He also has a wealth of technology management experience that will be invaluable for DirectView as we execute our strategic growth plan.” As a result of a smaller sales force, DIRECTVIEW HOLDING COM USD0.001 (OTCMKTS
IRV) experienced a sales drop of 48% in 2016 when compared to 2015. That sales loss was also reflected by a decrease of 62% in the cost of product from 2015 to 2016. It is encouraging that the company has taken steps to broaden its footprint and expand its product offering. Direct View’s own SEC filing expressed the possibility that the company may not continue to function as a going concern. “The Company will require additional funding to finance the growth of its current and expected future operations as well as to achieve its strategic objectives. The
Company believes its current available cash along with anticipated revenues may be insufficient to meet its cash needs for the near future. There can be no
assurance that financing will be available in amounts or terms acceptable to the Company, if at all.” Investors should keep themselves attentive to developments.
I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 96 hours. All information, or data, is provided with no guarantees of accuracy.
About the author: Marc has a degree in economics and a MSc. in Finance. Over his 20-year career, Marc has worked for global investment firms in Europe and the United States as an analyst, fund manager, and consultant.
http://stocknewsunion.com/directview-holding-...ions/4086/
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