DirectView Releases Audited Financials for Recent Acquisitions
Newly Released Data Evidences Nearly $6M in Sales on 61% Top-line Growth
NEW YORK, December 11, 2017 /PRNewswire/ DirectView Holdings, Inc. (OTC:DIRV) (“DirectView” or the “Company”), a company focused on ownership and management of leading video and security technology companies, has publicly released fully-audited financial data for its recently acquired entities pursuant to acquisitions initially reported in April of this year. The data show total combined 2016 revenues for the acquired entities at $5.8 million.
Video Surveillance Limited Liability Company DBA Virtual Surveillance LLC provides high-end commercial security products and services to a number of Fortune 500 clients in North America. Audited financial data shows sales at $3.15 million for the year of 2016, boiling down to a gross profit just shy of $1.2 million. Year-over-year growth from operations was strong, with revenues growing 116% from 2015 levels, with gross profitability rising 75.3% over the same period.
ApexCCTV, LLC is an E- Commerce and reseller (www.ApexCCTV.com) provider of surveillance systems, digital / network video recording, access control, security cameras and low voltage products. Audited financials demonstrate apparent strong top-line data for 2016, with revenues jumping to $2.7 million from a 2015 level of $2.18 million, representing sales growth on a y/y basis of 24% over this period.
Management believes both entities offer very strong synergies to complement DirectView’s growing core business and should provide considerable financial performance moving forward, producing cash from operations and providing further strength to the Company’s financial foundation.
Roger Ralston, DirectView CEO, comments, “In each case, we were confident these acquisitions would augment the core business just in terms of IP, culture, sales, and service footprint. That said, it’s clear that both entities offer obvious advantages from a strictly financial standpoint as well. We are excited about what lies ahead as we integrate these new assets.”
About Video Surveillance Limited Liability Company
Virtual Surveillance LLC. was incorporated in the State of Texas on February 25, 2003. On April 9, 2015 the assets of Virtual Surveillance LLC were acquired by an individual who subsequently incorporated Video Surveillance Limited Liability Company, (the “Company”), in the State of Texas on February 26, 2015 (see Note 2). The Company is an integrator of security products and low voltage technology such as security cameras, access control, structure cabling, Wi-Fi and digital signage. The Company’s services enable its clients to cost-effectively have one vendor that can provide services across their geographically dispersed locations. The Company’s primary focus is to provide high value-added commercial security products and services to manufacturing, distribution, healthcare, entertainment, and a number of Fortune 500 clients in North America.
About ApexCCTV, LLC
Valtronics LLC was incorporated in the State of Texas on January 31, 2006. Valtronics LLC was a full-service provider of security products through an ecommerce website. On April 9, 2015 the assets of Valtronics LLC were acquired by an individual who previously incorporated ApexCCTV, LLC, in the State of Texas on February 24, 2015. The Company is a full-service provider of security products through an ecommerce website. The Company’s website allows customers to purchase commercial grade software and equipment cost-effectively. The Company markets to systems integrators, small businesses, corporations, and individuals. The Company is a provider of the latest technologies in surveillance systems, digital video recording, access control, and low voltage products.
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.