DirectView Holdings (OTCMKTS:DIRVD) shares have been all over the map in recent action as the company undergoes a major 1-for-500 reverse stock split of the its common stock. The split went effective on July 31, 2019, resulting in the ticker symbol change from “DIRV” to “DIRVD”. The extra “D” will be with the stock for a period of 20 days. Now making it one of the best low float stocks on otcmarket with 1.5M in float.
The move is part of a rebirth and rejuvenation for the company. This is a turnaround story with some interesting things underway. For example, the company recently announced that its wholly-owned subsidiary, ApexCCTV, a seasoned provider of security, surveillance and access control products, participated in Amazon (NASDAQ: AMZN) Prime Day 2019. The company also recent announced that it has signed a 10-year lease to occupy 7,870 square feet of space in “The Tech Center of Greenville,” to build out a new, state-of-the-art mutlipurpose facility. This has the potential to massively streamline its business operations and allow more room for further growth.
DirectView Holdings (OTCMKTS:DIRVD) frames itself as a company that, 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.
We started off by noting that DIRVD recently hit the wires with a reverse split that should help to make shares superficially more attractive to investors and increase the overall movement of the stock as a plus for traders.
The move highlights an interesting turnaround story that has been sparked by continued growth and a move to streamline operations with a new multi-purpose facility.
Even in light of this news, DIRVD has had a rough past week of trading action, with shares sinking something like -60% in that time. That said, chart support is nearby and we may be in the process of constructing a nice setup for some movement back the other way.
“We have just signed a 10-year lease for a new, state-of-the-art multipurpose facility that will streamline our operations and further our growth strategy,” stated Roger Ralston, CEO and Chairman of DirectView Holdings. “The layout of the interior was strategically designed in a way that allows DirectView to ramp up its operations. The warehouse and shipping space will provide DirectView with a larger inventory of items in stock and will speed up the order fulfilment process, while the office space will be utilized in a way that provides superior sales, service, and technical support. The new facility will allow DirectView to reach the next milestone in growth, and I couldn’t be more proud of our team and our subsidiaries on their accomplishments this year.”
DirectView Holdings (OTCMKTS:DIRVD) generated sales of $626K, according to information released in the company’s most recent quarterly financial report. That adds up to a sequential quarter-over-quarter growth. In addition, the company is holding $87K in cash in the coffers.