DirectView Holdings Inc. (OTC: DIRV), a leading provider of video and security technology products, recently announced that it has acquired office space in the Denver suburb of Englewood. The office will serve as a regional hub for its security and surveillance business that has become increasingly focused on the rapidly growing cannabis industry within the state of Colorado.
“We are excited to open this Colorado office as we setup our marketing efforts to the rapidly growing cannabis industry,” said DirectView Chairman and CEO Roger Ralston. “Both growers and dispensaries of marijuana have extensive state and local government compliance requirements when it comes to security and DirectView is perfectly positioned to provide all aspects of their security needs.”
With a pound of cannabis selling for more than $2,000 wholesale, growers and dispensaries have become targets for criminals. Federal pressure on banks has also forced these organizations to rely almost entirely on cash rather than storing money in safer locations like banks. Swiping jars on display alone could net more than $20,000, while robbing a floor safe could earn criminals $100,000 or more.
These dynamics have led many dispensaries to implement strong security systems, with dozens of cameras, motion detectors, infrared sensors, and flood lights. Some stores even line ceilings with tripwire to prevent rooftop burglaries and require several forms of ID from visitors before entering. Unfortunately, many traditional security companies like ADT have dropped them, as cannabis remains illegal.
DirectView hopes to capitalize on these dynamics by providing comprehensive security solutions to growers and dispensaries. With many blue-chip clients ranging from Coca-Cola to the U.S. Navy, the company provides security cameras, recorders, security monitors, video management software, access control, and perimeter solutions, designed to deter and prevent burglaries and theft.
Shares of DirectView jumped nearly 23% in early trading on Thursday morning and are trading up more than 470% so far this year.
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