Security & Surveillance Industry Targets Everyday Security Concerns & Sector Growth - Company Secures Capital for Expansion & Marketing Efforts
CORAL SPRINGS, Florida, April 30, 2014 /PRNewswire/ --
Security industry advancers continue to develop innovative security and surveillance platforms for consumer comfort: DirectView Holdings, Inc. (OTC: DIRV), The ADT Corporation (NYSE: ADT), The Brink's Company (NYSE: BCO), Tyco International Ltd. (NYSE: TYC) and Kratos Defense & Security Solutions, Inc. (NASDAQ: KTOS)
DirectView Holdings, Inc. (OTCQB:DIRV), a company focused on ownership and management of leading video and security technology companies, today announced it has issued a convertible promissory note (the "Note") to an undisclosed institutional investor (the "Investor") in the principal amount of $338,000. The Company plans to use the capital to expand its marketing efforts for its security and surveillance services business.
Commenting on the capital raise, Roger Ralston, CEO and Chairman of DirectView stated "This capital will enable us to step up our marketing efforts in several key market categories including the cannabis industry, education, transportation and hotel / property management among others. There is a growing need for security providers with the technical knowhow to bridge different platforms and products to create customized and cost effective surveillance solutions, and we intend to use this cash infusion to build our sales and service team to target these large market categories. We are pleased to have secured this institutional investment and look forward to working this Investor in the future to help us opportunistically grow DirectView's business in the years to come for the benefit of our stockholders."
To read the full DIRV press release, please visit http://www.fnmprofiles.com/profiles-dirv.html
The Note bears interest at the rate of eight percent (8%) per annum until paid in full and can convert into shares of the Company's common stock at a price of $0.0175 per share, subject to certain provisions. The note is not convertible into common shares for a period of 6 months. In a separate transaction, the company retired $35,000.00 of notes convertible at $0.0001 per share on April 7, 2014 for a total of $42,483.00 including interest. Management believes the net effect of the two transactions are favorable for the Company and its stockholders.
The ADT Corporation (NYSE: ADT) announced the appointment of Laura Miller to the position of Chief Human Resources Officer. Miller, who most recently served as Chief Human Resources Officer of Coca-Cola Refreshments, will report directly to Naren Gursahaney, ADT's president and CEO. She will join ADT on May 5, 2014 and be based in the Company's headquarters in Boca Raton, Florida. In her new role, Miller will lead ADT's human resources across the Residential, Small Business, and Health business units in North America. She will oversee all HR business partners, compensation and benefits, talent acquisition, talent management, labor and employee relations, and diversity and inclusion. Before joining ADT, Miller served in multiple senior leadership roles within the Coca-Cola Company in Atlanta, Georgia, most recently as Chief Human Resources Officer for Coca-Cola Refreshments.
The Brink's Company (NYSE: BCO) recently announced that it will no longer use Venezuela's official exchange rate of 6.3 bolivars per U.S. dollar and has adopted the government's SICAD II floating rate of approximately 50 bolivars per U.S. dollar, which took effect on March 24. As a result of the devaluation, Brink's expects to incur a first-quarter remeasurement charge related to the write down of substantially all of its bolivar-denominated net monetary assets. At December 31, 2013, bolivar-denominated net monetary assets totaled $120 million. Tom Schievelbein, chairman, president and chief executive officer, said: "Brink's has been operating in Venezuela for more than 40 years, through numerous economic cycles. We remain committed to this business, which is extremely well-managed by our local team and has demonstrated strong operational and financial performance."
Tyco International Ltd. (NYSE: TYC) recently announced that it has joined the Industrial Internet Consortium (IIC), the nonprofit organization launched last month to catalyze and coordinate the priorities and enabling technologies of the Industrial Internet. "We are excited to be an early member of this visionary group," said George Oliver, Tyco's Chief Executive Officer. "As the leader in the fire protection and security industry, and with technologies and insights that apply well beyond that space, we look forward to contributing to the development of the architectural framework that will help shape and grow the Industrial Internet and drive more comprehensive, integrated solutions for customers." "We are thrilled to have Tyco join the Industrial Internet Consortium," said Dr. Richard Soley, Executive Director of the IIC.
Kratos Defense & Security Solutions, Inc. (NASDAQ: KTOS), a leading National Security Solutions provider, recently announced that its Electronic Products division has received orders valued at $7.8 million for the production of Integrated Microwave Assemblies (IMA) for two critical U.S. Navy platforms. These awards, from an existing customer, are related to continuing production on long term Electronic Attack (EA) and Intelligence, Surveillance and Reconnaissance (ISR) airborne platforms. No additional details are being provided due to customer and other sensitivities. Richard F. Poirier, President of Kratos' Electronic Products division, commented, "These orders are the latest significant awards received from this prime contractor for complex integrated assemblies. The assemblies will be manufactured at Kratos' Lancaster and CTI facilities and are critical elements of high performance sensor systems. Kratos has participated on these programs for many years and continues to be a valued supplier providing sophisticated subsystems for these U.S. Navy aircraft."
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