Caveat Emptor Status Removed, Current on All Filings, Seeking OTCQB Uplisting in March, Reports 1,689% Sales Growth
NEW YORK, February 12, 2018 – /PRNewswire/ DirectView Holdings, Inc. (OTC:DIRV) (“DirectView” or the “Company”), a company focused on ownership and management of leading video and security technology companies, is excited to announce that the Company is now fully current and compliant on all filing requirements and financial data. In addition, the “caveat emptor” designation on OTCmarkets.com has been removed, and the Company is beginning an imminent process to seek uplisting onto the OTCQB exchange as early as next month.
The Company’s 10-Q filings for the periods ended June 30, 2017 and September 30, 2017 had been delayed due to complexities surrounding the completion of two key acquisitions that represented the onboarding of entities accounting for nearly $6 million in sales in fiscal 2016.
However, as of January 25, 2018, those filings have been completed and filed with the SEC, and the Company is now fully compliant with its filing requirements and current on all financials. As a result, OTCmarkets.com has removed its caveat emptor designation.
Roger Ralston, DirectView CEO, comments, “We have been tying up the loose ends over the last few months to fully integrate our newest acquisitions onto the books. But now that’s behind us, and we have so much to look forward to in the weeks and months ahead. As investors will see in coming days, we have a number of exciting projects just concluded, still underway, and set to get started. This is an extremely exciting time for the company.”
As reported in its most recent 10-Q filing for the period ended September 30, 2017, DirectView recorded quarterly year/year sales growth of 1,689%. For the nine months ended September 30, 2017, the Company recorded gross profits in excess of $1.2 million, representing over 600% growth in gross profitability relative to the same period from 2016.
Investors are encouraged to expect several other key announcements over coming days outlining important new projects underway for DirectView and updating new progress for the Company in terms of exceeding sales growth targets for Q1.
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 www.DirectView.com, www.ApexCCTV.com and 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.