The stock of Directview Holdings Inc (OTCMKTS:DIRV) recorded strong gains in last week of April but since them has been moving south on the charts, recording bouts of gains followed by sharp descents. In last trading session, the stock price of Directview jumped more than 30% to close the trading session at $0.0047. The gains came at a share volume of 80,000 compared to average monthly share volume of 4 million.
By the beginning of September, Directview had eroded 75% of the total value that it recorded at the early-May peak. This decline was not surprising as the company failed to report healthy financial numbers in last financial report. The last quarterly report for the period ended June 30 was submitted on August 19.
As per the last report, the company had cash of $78,000. The current assets were $251,000 while current liabilities stood at $5.17 million. Directview reported revenue of $73,000 and net loss was $951,000.
The dismal financial numbers just account for the recent drop that Directview stock recorded. However, the company has been diluting its stock since last one year. The company reported outstanding shares of 382 million in November 2014. It exercised a one for thirty reverse split in this February and following that the outstanding shares count surged to 232 million in May 2015. By first week of August, the outstanding shares count ballooned to nearly 359 million, which clearly suggests the dilution is still going on.
On August 20, 2015 Directview Holdings Inc (OTCMKTS:DIRV) reported a purchase deal for the installation of a security and surveillance system valued at nearly $300,000. It is a big achievement, but the net loss of 2Q2015 indicates that it is not going to be a smooth journey for the company. Last week, the company reported that it will participate in the SeeThruEquity investor conference scheduled in this month.