$DIRV DirectView CEO Exchanges $1.8M Debt For Pref
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Posted On: 03/14/2019 11:19:19 AM
$DIRV DirectView CEO Exchanges $1.8M Debt For Preferred Shares - NEW YORK, March 13, 2019 (GLOBE NEWSWIRE) -- DirectView Holdings, Inc. (DIRV) (“DirectView” or the “Company”), a company focused on ownership and management of leading video and security technology companies, today announced that, in a show of confidence, the Company’s Chairman and CEO, Roger Ralston, is taking approximately $1.8M in debt owed to him from DirectView (consisting of money he invested, along with accruded salary), and has agreed to convert that debt into equity of the the company or preferred shares.
For DirectView Holdings Chairman and CEO, Roger Ralston, the exchange of debt for additional equity in the Company, reinforces his positive outlook on DirectView. This comes as part of a roll-up strategy Mr. Ralston initiated to reduce debt and support DirectView’s ongoing business plans; including its acquisition and growth strategy. The CEO’s exchange of debt to equity is the next step in the Company’s roll-up strategy to reduce debt and tighten its balance sheet, following DirectView’s previously announced settlement agreement to retire outstanding convertible debt [see DirectView Successfully Enters Into Agreement to Retire Outstanding Convertible Debt Agreement].
For DirectView Holdings Chairman and CEO, Roger Ralston, the exchange of debt for additional equity in the Company, reinforces his positive outlook on DirectView. This comes as part of a roll-up strategy Mr. Ralston initiated to reduce debt and support DirectView’s ongoing business plans; including its acquisition and growth strategy. The CEO’s exchange of debt to equity is the next step in the Company’s roll-up strategy to reduce debt and tighten its balance sheet, following DirectView’s previously announced settlement agreement to retire outstanding convertible debt [see DirectView Successfully Enters Into Agreement to Retire Outstanding Convertible Debt Agreement].
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