With a market capitalization of roughly $950,000, video and security company DirectView Holdings (OTCPK:DIRV) says it will see seven-digit revenue under agreements with GRUMA Corp., a multi-billion-dollar Mexican food chain and leader in corn and flour tortilla production worldwide.
Shares of DIRV got a lift on Monday following news that the New York-based company has received additional orders and began fulfillment of an additional multi-year contract with GRUMA's subsidiary, Mission Foods.
DirectView has started the installation work at Mission's newest facility in Grand Prairie, Texas a suburb of Dallas. Mission is in the process of consolidating its manufacturing and distribution operations in North Texas into a single, $200-million logistics campus in Grand Prairie.
For its part, DirectView's Virtual Surveillance is installing a robust security solution of surveillance equipment, access control and all associated infrastructure at the new 24/7, 800,000 square-foot complex.
Moreover, DirectView has a multi-year contract with Mission for support and service at the logistics center.
The DirectView system is comprehensive, with products and services covering employee safety, crime prevention, food safety on the production lines, restricted access and more.
DirectView chief executive Roger Ralston trumpets the "incredible contract" as part of a "massive growth phase" for his company, which includes organic growth and roll-up opportunities in the fragmented security space.
Within the confines of the press release text released Monday morning, the company didn't mention revenue figures, but they were covered in the headlines. Phase One of the project is valued at roughly $600,000, according to DirectView with a master service agreement to service Mission Foods expected to rake in over $1 million for DirectView.
After closing last Friday at half a penny, shares of DIRV rose 22.0% on Monday subsequent to the news, closing the day at $0.0061.
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