DirectView Secures $1,000,000 in Debt Financing to Assist the Company with Its 2005 Expansion Plans.BOCA RATON Boca Raton (bō`kə rətōn`), city (1990 pop. 61,492), Palm Beach co., SE Fla., on the Atlantic; inc. 1925. Boca Raton is a popular resort and retirement community that experienced significant industrial development in the 1970s and 80s. , Fla. -- DirectView, Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :DRVW) announced today that they have entered into a definitive agreement with Highgate House, a private equity fund, to sell $1,000,000.00 of the Company's 7% Secured Convertible Debentures Convertible Debenture Any type of debenture that can be converted into some other security. Notes: For example, a convertible bond can be converted into stock. due April 1, 2006. The Debentures are convertible into DirectView common stock at a fixed floor price of no less than $.024 per share. The Company will receive the funds in two tranches, the first $500,000 has just been received and the second $500,000 will be received upon the filing of a registration statement to register the common stock underlying the Debentures which are due April 1, 2006. DirectView plans to use the funds to accelerate its business expansion in its core videoconferencing A real time video session between two or more users or between two or more locations. Although the first videoconferencing was done with traditional analog TV and satellites, inhouse room systems became popular in the early 1980s after Compression Labs pioneered digitized video systems solutions as well as to complete other projects including the design and launch of its previously announced Digital IP Video Phone based on its proprietary technology. Commenting on the transaction, Jeffrey Robbins, President of DirectView, stated, "During the third quarter of 2004, the Company opened the Texas office and expanded its full time sales force with additional industry savvy staff; increasing number of full time sales personnel sets the stage for the Company to rapidly grow its pipeline of orders for 2005. We also entered into the final phase of testing and development of our Video IP Telephone, which we expect to launch shortly. This cash infusion goes a long way in helping us finance our plans for 2005 and beyond." Adam S. Gottbetter, New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of based Portfolio Manager of Highgate House, said, "We are pleased to provide the capital to help DirectView further its business plan." In addition to this financing, the Company maintains freely tradable shares of Langley Park Langley Park, uninc. town (1990 pop. 17,474), Prince Georges co., W central Md., a suburb of Washington, D.C. The town has grown with the development of the greater Washington, D.C. metropolitan area and has light industries and businesses. Investments, which trades on the London Stock Exchange London Stock Exchange London marketplace for securities. It was formed in 1773 by a group of stockbrokers who had been doing business informally in local coffeehouses. which will be used for growth and expansion. The Company has also entered into a separate standby credit facility to provide an additional $10,000,000 in financing based upon certain terms and conditions should the Company elect to draw upon it. The Company believes that as a result of these events DirectView is now on far more solid financial ground and has the ability to aggressively pursue its business plan to achieve substantial growth in 2005 and continue its efforts to reach profitability. About DirectView, Inc. DirectView Inc. (http://www.DirectViewInc.com) is a full-service provider of high-quality, cost efficient videoconferencing technologies and services. DirectView provides multipoint videoconferencing, network integration services, custom room design, staffing, document conferencing and IP / Webconferencing services to businesses and organizations in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. and around the world. DirectView conferencing services enable our clients to cost-effectively, instantaneously conduct remote meetings by linking participants in geographically dispersed locations. This announcement contains forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. that involve risks and uncertainties, including those relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc the Company's ability to grow its business. Further descriptions are available at sec.gov. Actual results may differ materially from the results predicted and reported results should not be considered as an indication of future performance. The potential risks and uncertainties include, among others, the broadband market, broadband availability, the company's limited operating history, the limited financial resources, domestic or global economic conditions. Activities of competitors and the presence of new or additional competition, and changes in Federal or State laws, restrictions and regulations on doing business in a foreign country, in particular China, and conditions of equity markets. More information about the potential factors that could affect the company's business and financial results is included in the Company's filings, available via the United States Securities & Exchange Commission. |
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