Company Continues to See Strong Growth Ahead in Tailored Security Solutions for the Highly-Regulated Cannabis Sector
NEW YORK, November 7, 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, is excited to announce its most recent major equipment upgrade and servicing contract in the $7.8 billion cannabis industry as a premier supplier of security equipment and infrastructure tailored for cannabis-related businesses.
Colorado Medical Processing (dba “Colorado’s Best Dabs” or “CBD”), a top-tier cannabis processing facility located in Denver, Colorado, recently tasked DirectView with a major equipment upgrade and expansion of existing security infrastructure at the company’s principal state-of-the-art laboratory. The Company installed a new DirectView NVR (capacity at least 40 days of high quality video surveillance recordings), as well a series of additional cameras, including a Class 1 Division 1 explosion-proof camera dedicated for special-purpose deployment in a highly-sensitive area of the lab (as required by Colorado law).
Management believes that the surveillance-related regulatory framework for Colorado’s Marijuana Enforcement Division (“MED”) may become a major driver of revenue growth for DirectView.
Roger Ralston, DirectView CEO, notes, “We have tailored a package of resources to assist new and existing cannabis-related businesses in hitting their MED compliance objectives. Colorado is truly ground zero for the cannabis boom. Business formation and expansion of these facilities is through the roof. We may be looking at a steady and steep acceleration in sales from this segment alone, with additional potential to scale nationally in the space.”
A recent Forbes article concludes that “Scaling up will be the new challenge” for the marijuana industry. Retail sales in the U.S. from 20 jurisdictions were $6.5 billion last year. Greenwave Advisors has projected that number to swell nearly five-fold by 2021 to $30 billion.
“Meeting that kind of massive demand growth implies that cultivators and processors are going to be dramatically scaling up their operations. That means new expensive equipment, more product on site, more square footage, and more regulatory oversight. We believe this process will drive enormous demand for tailored security solutions,” states Mr. Ralston.
DirectView has already been informed by CBD that it has plans for additional expansion over the near term and will be contracting DirectView to handle that work as well. Furthermore, the Company is aggressively pursuing a number of additional contracts in the Colorado cannabis industry, and will keep investors updated as future deals are cemented into place.
About Colorado’s Best Dabs
At Colorado’s Best Dabs, patients come first. We believe in supplying Colorado with clean cannabis infused products and produce quality concentrates. CBD is comprised of and owned by Colorado natives who have embraced cannabis legalization from the beginning. Established in 2012, CBD has extensive knowledge and experience in cannabis extraction, always striving for medical excellence. At CBD we handcraft each and every batch of our concentrates to create a personal touch to all of our products. We provide friendly dedicated service and offer speedy turnaround times with no delivery fees. Our laboratory consists of top of the line extraction equipment featuring the ExtractionTek and Cascade Botanical vacuum oven for maximum terpene preservation. We have a trained extraction team with combined10 years industry experience. Our experience with post processing techniques can be tailored to your patient’s preference.
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.