BALTIMORE, MD--(MARKET WIRE)--Nov 28, 2006 -- View Systems, Inc. (OTC BB:VYST.OB), a leading homeland defense solutions provider, announced today that the organization has retained the services of and has entered into agreement with a regionally prominent investment banking firm in Baltimore, Maryland, The Riderwood Group Incorporated. Riderwood is a member of the National Association of Securities Dealers, the Securities Investor Protection Corporation and the Municipal Securities Rulemaking Board. The firm is located throughout America, stretching from Denver, Colorado to Wilton, Connecticut and is composed of seasoned professionals, all of whom bring a record of achievement and experience earned at some of the largest brokerage firms in the U.S. The company, founded in 1985, is a full-service brokerage firm with the ability to provide its clients with advice and transactions in the complete spectrum of investment products from money market funds and certificates of deposit to annuities, equities and fixed-income, both taxable and tax-exempt.
The scope of the engagement between Riderwood and View Systems includes several phases; the first being the raising of a working capital facility to finance the fulfillment (manufacturing, packaging and shipping) of outstanding orders. The second phase involves the identification of and negotiation with certain strategic partners (acquisition and/or merger) that will substantially increase the scope of both management and the View Systems product line. The third planned phase is the raising of approximately $6,000,000 which will provide the Company with the working capital and liquidity to finance the acquisition and integration of this series of pre-approved acquisitions.
Mitchell Fillet, Director and President of The Riderwood Group, said that, "We are pleased to be on-board with View Systems and to have a chance to assist management in realizing their plans for expansion of their business. View Systems is, for our firm, a client that fits into our business model. We look for companies that have the proper mix of product, market and management, and View Systems has all of that and more."
Gunther Than, CEO of View Systems, states, "The engagement of Riderwood is the first step towards executing a business plan which incorporates broad expansion, designated acquisitions, and a larger corporate structure. We have taken the first step and are busy shipping product. We have specifically identified acquisition targets and are moving rapidly in that direction. View is reaching out internationally starting with the Soccerex trade show in Dubai and ASIS International in Bahrain. We have engaged several very competent individuals to help us consummate this business."
About View Systems Inc.
View Systems Inc. provides security and surveillance products to law enforcement facilities such as correctional institutions as well as to government agencies, schools, courthouses, event and sports venues, the military, and commercial businesses. View Systems' headline products include the SecureScan concealed weapons detection (CWD) portal system with biometric capabilities and positive ID verification, as well as the VFR Visual First Responder camera system geared toward emergency first responders which won the coveted R&D 100 Award.
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.
