Potomac River Group Exclusive World-Wide Distribution Agreement Provides View Systems With Enhanced Distribution and Financing for Product and Inventory
(firmenpresse) - BALTIMORE, MD -- (Marketwired) -- 01/15/15 -- View Systems, Inc. (OTCBB: VSYM), a Baltimore-based manufacturer of integrated, non-invasive, weapons detection systems, has completed an exclusive world-wide Distribution Agreement with the Potomac River Group LLC (PRG), , as the next step in their announced merger. The merger is scheduled to be finalized in the first quarter of 2015.
The blanket Distribution and Financing Agreement will serve two immediate functions: 1) it will provide a line of financing to build inventory to meet orders and product demonstration demands and 2) it will open up the View Systems marketing and distribution process to the existing substantial network of PRG. PRG, PRG Defense and its partners are extensively engaged in security training, product supply and consulting to federal, state and international governments.
The agreement will also serve as the umbrella under which all regional sales representative arrangements, established throughout fiscal 2014, will be evaluated. Existing territorial sales representatives and their relationship with the newly merged View Systems will remain administratively unaffected, while being enhanced by the operational upgrades and sales support services.
The exclusive world-distribution agreement will serve to open doors to the existing Federal Government clients of PRG, which include Departments of Energy, Homeland Security, Treasury, and Defense, as well as substantial portions of the U.S. intelligence community. Additionally, the View product line will gain attention and marketing support from the sister companies affiliated with the Potomac River Group through common ownership, partnering arrangements and client-specific joint ventures. PRG maintains active partnering agreements with multiple firms engaged in the Government contracting industry -- some of which are Fortune 500 firms.
The formal merger between View Systems and PRG has been working its way through verifications by attorneys and accountants from both sides, as well as the filing of necessary documents with the SEC, DOJ and other State and Federal agencies of government. Everything associated with the merger has gone according to schedule and the management of both organizations have been meeting on a regular basis to resolve all logistical functions relating to the effort.
Frank Frysiek, President and CEO of Potomac River Group and PRG-Defense stated, "Admittedly, this is an interim step, but it gets the ball rolling so that we can begin to expand both the reach and market penetration of the View product lines." View Systems CEO, Gunther Than, echoed those comments saying, "Frank and I work well together and as we walk through the merger process it becomes increasingly clear that we have both found a solid match to complement each other''s strengths. Additional information will be released in the coming months as regulatory conditions of the merger/acquisition are met and the final decisions regarding structure and personnel are taken."
View Systems, Inc. manufactures and installs weapons detection identification systems, video management platforms and tele-data communication networks targeted at a broad range of government and commercial users. More information can be found at
This press release contains certain forward-looking statements. Investors are cautioned that certain statements in this release are "forward-looking statements" and involve both known and unknown risks, uncertainties and other factors. Such uncertainties include, among others, certain risks associated with the operation of the company described above. The Company''s actual results could differ materially from expected results.
View Systems
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Datum: 15.01.2015 - 08:56 Uhr
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