DirectView Holdings Inc (fka DIRV)

[freemoneyfella]

Sorry DIRV shareholders. DIRV’s 3rd Quarter Financial results are filed and DIRV posts a loss of $10,806,512 for the Quarter on significantly lower sales. Extremely high rate of dilution as well from all the new DIRV shares being issued over the past 3 months. Can anyone say bankrupt?



NOTE 2 – GOING CONCERN

The accompanying unaudited consolidated financial statements are prepared assuming the Company will continue as a going concern. At September 30, 2019, the Company had an accumulated deficit of approximately $50.3 million, a stockholders’ deficit of approximately $31 million and a working capital deficiency of approximately $32 million. The net cash used in operating activities for the nine months ended September 30, 2019 totaled $707,068. These matters raise substantial doubt about the Company’s ability to continue as a going concern for a period of twelve months from the issue date of this report. The ability of the Company to continue as a going concern is dependent upon increasing sales and obtaining additional capital and financing. Management intends to attempt to raise funds by way of a public or private offering. While the Company believes in the viability of its strategy to increase sales volume and in its ability to raise additional funds, there can be no assurances to that effect. The Company’s limited financial resources have prevented the Company from aggressively advertising its products and services to achieve consumer recognition. The unaudited consolidated financial statements do not include adjustments to reflect the possible effects on the recoverability and classification of assets or the amounts and classification of liabilities that may result from the outcome of this uncertainty.

https://www.otcmarkets.com/filing/html?id=13744008&guid=Uv6SUqbKf1KnZth