DirectView Holdings Inc (OTCMKTS:DIRV) Surges On Pump And News

[[tagnumber 0]][[tagnumber 1]]After the impressive performance that we saw from DirectView Holdings Inc (OTCMKTS:DIRV) in the end of April the company stock has been slowly sliding down the charts, recording short periods of rising, followed by steady descents.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]By the beginning of this month we saw that [[tagnumber 6]]DIRV[[tagnumber 7]] had lost 75% of the value that it commanded at the early–May peak and this wasn’t surprising. After all, the company didn’t show very strong numbers in its latest financial reports. The latest one was filed on August 19 and covered the quarterly period ended June 30. It contained the following numbers in its balance sheet.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 11]] [[tagnumber 12]]cash: $78 thousand[[tagnumber 13]] [[tagnumber 12]]current assets: $251 thousand[[tagnumber 13]] [[tagnumber 12]]current liabilities: $5.17 million[[tagnumber 13]] [[tagnumber 12]]quarterly revenues: $73 thousand[[tagnumber 13]] [[tagnumber 12]]quarterly net loss: $951 thousand[[tagnumber 13]] [[tagnumber 22]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]But this can only account for the most recent downward run that [[tagnumber 6]]DIRV[[tagnumber 7]] has experienced. Let’s not forget the massive dilution that the stock has endured in the past year. As we previously wrote, [[tagnumber 6]]DIRV[[tagnumber 7]] had a total of [[tagnumber 6]]382 MILLION[[tagnumber 7]] outstanding shares on November 19, 2014. The company exercised a [[tagnumber 6]]1 for 30 REVERSE split[[tagnumber 7]] on February 24, 2015 and we saw that the outstanding shares had grown to a massive [[tagnumber 6]]232 MILLION[[tagnumber 7]] on May 20, 2015.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]By August 7 the number of outstanding shares had grown to some [[tagnumber 6]]359 MILLION[[tagnumber 7]], so the dilution is ongoing. And it couldn’t be any other way, because quite a big chunk of the company’s liabilities are in the form of convertible notes.[[tagnumber 42]][[tagnumber 43]][[tagnumber 44]][[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]Still, [[tagnumber 6]]DIRV[[tagnumber 7]] had some positive news lately. On August 20 the company announced a purchase contract for the installation of a surveillance and security system that was valued at approximately $300 thousand. Although this is a big step, however, the net loss of the second quarter of the year suggests that the company will still have a hard time turning a profit any time soon.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]A press release from last Friday however, managed to lift investors’ spirits and we saw the ticker rise an impressive 30.56% in the final session before the weekend after it was announced that the company will present at the SeeThruEquity microcap investor conference on September 10, this year. [[tagnumber 2]] [[tagnumber 0]]Unfortunately, this wasn’t the only reason for the impressive performance in last week’s final session. In Thursday we received promotional emails from pumper outlets operated by Stellar Media Group, LLC who were compensated $10 thousand to pump the company stock. And, as you all know well, things can turn pretty ugly when a stock is being pumped.[[tagnumber 2]]