SOURCE: View Systems, Inc.

View Systems, Inc.

February 24, 2015 09:15 ET

Potomac River Group and View on Track With Merger Process

BALTIMORE, MD--(Marketwired - Feb 24, 2015) - View Systems, Inc. (OTCBB: VSYM), a Baltimore-based manufacturer of integrated, non-invasive, weapons detection systems, and the Potomac River Group LLC (PRG), http://www.potomacrivergroup.com, are continuing with the steps required in their announced merger. The merger is scheduled to be finalized on March 30, 2015.

In January the companies started consolidated the manufacturing and distribution through a blanket Distribution and Financing Agreement which is serving two immediate functions: 1) it provides a line of financing to build inventory to meet orders and product demonstration demands and 2) it opens 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 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, "We took an interim step with the Distribution Agreement, which got the ball rolling, and are beginning 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 complement each other's strengths. A new Board of Directors has been formed which bring with them a broad range of experience and contacts in the security and federal government arena. We will keep the investing public informed in the coming months as the merger process completes."

About View Systems: 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 www.viewsystems.com

Forward-Looking Statements: 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. 

Contact Information

  • CONTACT:
    Gunther Than
    View Systems
    410-242-8439
    cell: 303-526-6069