BOCA RATON, Fla., Jan. 19, 2005 (PRIMEZONE) -- DirectView, Inc. (OTCBB:DRVW), a full-service provider of high-quality, cost efficient videoconferencing technologies and services, today announced they have executed a Letter of Intent to acquire Stratosphere Multimedia LLC.
Stratosphere Multimedia LLC is a visual communications company specializing in interactive meeting and event staging for VideoConferencing, Internet Broadcasting, and Satellite communications. Stratosphere maintains a pool of mobile videoconferencing and internet broadcasting systems, along with a global network database of 3,800 public videoconferencing suites and 1,700 hotel partners for multi-city events. Stratosphere possesses an expertise that brings mobility to videoconferencing combined with live and archived internet broadcasting. Stratosphere has been a leader in the industry in launching VCnetcast, www.VCnetcast.com, the first turnkey internet broadcasting interface that is fully compatible with all videoconferencing systems regardless of manufacturer. Stratosphere expands the business applications for videoconferencing and internet broadcasting to provide new value to the technology and marketplace. The company is a reseller and integration specialist for videoconferencing manufacturers. Stratosphere operates and maintains CEO level videoconferencing facilities in New York City.
There is an online tour of the facility at www.stratosphere-nyc.com/studio.
Lee A. Fehr is the Founder, President, & Chief Executive Officer of Stratosphere Multimedia L.L.C., founded in 1995 in New York, New York. Mr. Fehr has had an extensive background in the videoconferencing industry. Prior to Stratosphere Mr. Fehr held several positions in the field of video serving in leading roles at companies such as Capitol Records - Thorne EMI, Arista Records, reporting directly to Clive Davis, and Swiss Bank Corporation. It is anticipated that Mr. Fehr will be joining the DirectView team operating the DirectView Stratosphere Division as President.
DirectView, its attorneys and accounts will be completing further due diligence prior to the closing date.
About DirectView, Inc.
DirectView Inc. (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 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 that involve risks and uncertainties, including those relating to the Company's ability to grow its business. 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. There is further due diligence being preformed on Stratosphere prior to closing. 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.