DirectView Holdings, Inc. (OTC: DIRV) said it has issued a convertible promissory note to an undisclosed institutional investor in the principal amount of USD338,000.
The company said it plans to use the capital to expand its marketing efforts for its security and surveillance services business.
The note bears interest at the rate of eight percent per annum until paid in full and can convert into shares of the company´s common stock at a price of USD0.0175 per share, subject to certain provisions. The note is not convertible into common shares for a period of six months
In a separate transaction, the company retired USD35,000.00 of notes convertible at USD0.0001 per share on April 7, 2014 for a total of USD42,483.00 including interest.
DirectView Holdings provides security and surveillance as well as teleconferencing and services to businesses and organizations. Its website is at www.DirectViewSecurity.com and www.DirectViewInc.com.