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Crookk, I think you are wrong concerning investors filing a class action suit again SeaView. Investors that are long certainly see A@P as the one doing the damage to SeaView. There is a pretty clear connection to A@P's first two reports and the dramatic drop in share price. And it looks like at least some, if not all, of A@P's most damaging revelations may be wrong. And certainly publishing the Ken Cook conversation was a real dumb move on Anthony's part.
Investors like A@P and his followers have probably been shorting the stock and if so certainly have made gains as the price has fallen. They have no losses, thus no basis to participate in a class-action suit against SeaView.
Glad to see McBride and other SeaView investors going after Anthony and his followers. I plan to join them and encourage other longs on this board and RB to do the same.
FCB: It means he has chosen a lawyer to file suit in the state of California, where Anthony operates.
Whoops accidently posted the following on RB when I thought I was on IHUB. Oh well, here it is.....
It's good that Rich countered the A@P/Ken Cook interview quickly. I do hope we get to see a statement from Ken's father tomorrow. I believe I met the senior Mr. Cook while he worked the SeaView exhibit booth at a fishing show in Long Beach a few years back. I think his first name was Arch or Archie, but it's been quite a while. Ken seems bitter that his father has paper losses (assumes he hasn't sold shares) on his investment in the company. OTCBB investments are very risky. I'm somewhat bruised and bitter too.
Having been an officer in a small, rapidly growing company I was always amazed at the rumors and misinformation that many of the employees were constantly spreading. With all that is going on I imagine Rich has his hands full keeping his employees focused on the mission.
Looking at the 571 product returns since beginning in 1998, I did some calculations. Assuming an average price of $500 per product (+/- ????), that would represent $285,000 of revenues. According to SEC filings the revenues from 1998, 1999, and the first three quarters of 2000 amount to $5,616,000. Although my calculations are rough the return rate appears to be about 5%. Seems reasonable for a start-up company launching new products.
It would also be good to verify tomorrow that Jennifer Lawson is indeed still working at the PR firm. Wonder if Anthony made any attempt to do this, or to check on Ken's background before filing this highly damaging interview? And if we get a statement from Ken's father, I would hope A@P would include it on his site. Ken could be getting himself into some serious trouble if what he said in the interview is proven false. And that wouldn't be hard to do, especially on the Jennifer situation.
Just some of my thoughts, SRS
Just wanted to wish everyone a HAPPY NEW YEAR. Keep safe out there tonight.
Counting on 2001 to be a better year for our SEAVIEW (and a lot of our other investments)! 2000 was a rough one.
Duh...I'm way out of my league with all this electronics stuff, but I have a question....How was it established (and by who) that SEVU even uses and needs the MC12148 that we are spending so much effort researching?
Hey, at least SEVU had a better week! Lot's of volume with some price advance. At least somebody appears to be taking advantage of the bargain price. Wonder who it might be? Could it be A@P? Wouldn't that be a hoot?
I think we need to put the GSA thing to rest. The fact of the matter is if you do a search for SeaView by company name or by McBride name you can't find it. If you search for video cameras or security cameras you find lots of them, but not any from SeaView. The only possibility remaining is that it is a available through one of the security systems designers that do not list separate products. However the PR's certainly led us to believe that the products would be listed and available for easy ordering. The bottom line is that since a shopper can't find them they are in effect not there. So why not just say it like it is.
McBride needs to come forward on this, and the mass production timetable, and tell investors what is really going on here. Their credibility is diminished greatly without some straight answers, enough with the smoke and mirrors. Credibility of top management is one of the most critical assets a company can have. IMO this is an opportunity to start the new year with a clean slate and build forward.
Cabos, obviously routine or quarterly or monthly filings of PROPOSED sales. Paperwork was prefilled-in probably six months ago. Doesn't mean sold. Check out the Estimated Proceeds. Shows that paperwork was filled out when share price was between $7 and $9.
Standby, show me one person (besides the lawyers) who have ever gotten anything from a class action suit. The only thing that comes out of these suits is potential bankrupcy for the company and only rarely a few pennies on the dollar to investors. If Taiwan deal was only reason you bought more shares, you should have sold when the followup "complications" PR was released.
FanClubBoy, I think you are right. The track record for BB stocks moving to AMEX is nothing spectacular. AMEX just represents a cleaner market, but still highly susceptible to investor sentiment and emotions. Had we already been on AMEX we would have suffered the same fate from the crA@P attack. A big board listing is no immunity from this kind of thing.
So on Tuesday when SEVU takes another nosedive, it will be yet another opportunity to average down. After that we can get on the road to recovery based on strong revenue and profit growth. I doubt if crA@P can do any more damage to SeaView with Part 2 - if it happens it will probably just be an attack on FG and maybe a rehashing of the Miluky/McBride deal, neither of which are significant to SeaView's value.
So it comes down to has anything really changed? Same products, same market opportunities, and hopefully a more streetwise McBride.
Since Secureview is not in retail stores yet, there is no need to sweat the pricing $249 vs $349. Also could be something as simple as a typo. At this time we have bigger things to be concerned about, such as the status of mass-production, sales deals, AMEX, ect.
I know where you are coming from wanting to see AMEX listing. But think about it. In the midst of all this controversy I think an AMEX listing now would be viewed as a desperate act. Also the stock markets are at a two year low and how much investor exposure would we see during the Holidays? Besides that I am not sure Rich can just push a button and make it happen, and if he could I doubt if he would think now is the best time. He stated in a recent phone call about 10 days ago that he will do it when he believes it is best for the company. He said that he has had certain shareholders pressuring him to do it, but he won't until he and his advisors decide it is best for the company. If he didn't do it before all this, why would he do it now?
As I have stated earlier he needs to honestly and effectively deal with the claims made in the crA@P report or face up to any misinformation in past PR's and set the record straight for the future. Once that happens, then AMEX.
I think the communications posted on the Seaview site are too dated to have much impact in offsetting the crA@P report. Showing us some old communications that can be challenged as not representative of the current relationship is not going to settle anything. We need something current and independently verifiable in the areas of GSA, mass-production, AMEX, and sales contracts.
To really put this thing to bed McBride needs to rally some support from his teaming partners and/or consultants such as NTMI, Logis-tech, SL&K, and Kbyte. They don't need to reveal anything sensitive. (Why is it now more sensitive than when it was presented to us in the original PR's?) Just some kind of public statement that they are working with SeaView in achieving their common goals. I don't think that is asking too much.
If these partners are no longer working with SeaView, McBride needs to say so and present what he is currently doing, which should be verifiable by the other parties involved.
This needs to be brought to a definitive and quick end. I really hate to see the company and its CEO wasting time defending itself like this. So bring it to an end and let's get on to making this company successful.
Bull, it's already been determined that was not SeaView's McBride.
Crazy, slow down a little. You are posting yesterday's view under today's date. There is a new view out today 12/19. Go see it.
Again, let's be sure. The only McBride & Associates I have found on the GSAadvantage site doesn't list anything that looks similar to Seaviews products. Looks like a management consultant for engineers/architechs. I am missing something.
FG, Let's be sure. Is there anything on this site that assures us it is SeaView and not some other company under the name McBride and Associates?
I still think they removed the linkage thinking that this might cut down on some of the phone calls they were getting. It is actually quite easy to delete a page in a web site so I don't think it has anything to do with laziness of incompetentency of their webmaster.
Again, look at the index page (http://www.logis-tech.com/html/). The modification to their overview and products page was made about 30 minutes after the report came out. So you think they just decided this morning to dump the deal with Seaview?
Maybe this is old news and somebody else reported it here but pertaining to Logis-Tech website....if you check the index page (http://www.logis-tech.com/html/) you can see that the SecureView page is still there as Bulldop mentioned earlier. However the links to it were modified at 10:35 this morning right after the A@P report came out. Maybe they got fed up with all the phone calls trying to verify the report and made this modification.
I think SecureView has been off Logis-tech site for quite some time - did not just happen today. I am not sure this means anything, they handle a lot of products and services, not just SecureView.
When will the truth come out? A lot of damage was done to us today by misquoting various partners of SeaView. Since the Sevu board was the busiest at RB, a lot of people may be noticing this company for the first time. When the truth does emerge, there could be some serious action for this stock. Remember that for every share that sold today, someone was buying.
Check out this link to MagicMatty's post on RB. Then check out his alias page. He rarely posts on the SeaView board, definitely not one who has touted SeaView, but was concerned about his investment. Of course the bashers attacked this post vehemently since it was one of the few ones with real information to refute this report....
http://www.ragingbull.altavista.com/mboard/boards.cgi?board=SEVU&read=15211
Magic was one of the first to call Logis-tech today and spoke to Mr. Bound and before they would no longer take these calls. (Apparently they got a lot of them.) After reading him the report about Logis-tech, Mr. Bound denied it's truth and stated they were happy with the relationship with SeaView.
This and Paulmk's conversation last week with SL&K's Mr. Darling have refuted two of the most damaging lies in this report.
Has anyone else done anything else to challenge the validy ofthis report? If so, it out to posted and compiled in a summary to help offset the damage.
Lizard, I think you mean August and October, 2000. If you bought it 1999 you would be way UP.
Saltonpepper, I am not sure where Magic gets his numbers. They aren't showing on my financials for Sevu.
First on convertible debentures. My debenture was converted to shares on Dec 21, 1999, so conceivably they could be sold one year from that date. I believe this was the first round of debenture conversion but not sure about this. However selling SEC 144 restricted shares between 12 to 24 months after conversion is not a slam dunk. It involves a lot of SEC and legal bureaucracy that takes time. I don't think we are seeing that here.
Concerning earnings per share. My financials show Sevu at 2 cents eps in 1998 and 1 cent in 1999. Through the first three quarters of 2000 we are at 1 cent. I am concerned that 4th quarter isn't going to be the blockbuster Magic thinks. Remember that revenue is limited by SecureView production and what is shipped. Manual assembly will cap this figure significantly. Also underwater products are seasonal. Look back at 3rd to 4th quarter revenue growth in 1999 (underwater only). The revenue went down in the 4th quarter.
My best questimate for 4th quarter revenues is in the range of $3 to $4.5 million, with maybe $450K to the income after tax line . This will bring earnings for the year in around $600K, and assuming 13 million diluted average shares, eps will only be under 5 cents, no where near Magic's 15 cents.
I do believe Magic is right about 2001 being the coming out year, as long as mass production gets underway.
Status with SL&K aside, announcing AMEX listing during the Holidays would assure minimal exposure! Can't imagine that happening.
Searcher, I think you hit the nail on the head. From McBride's comments to visitors and people on the phone, it is a matter of getting all of the component parts together that are necessary for the robotic production run. I believe he is having problems with one or more part suppliers.
FCB, you get the award for best post of the year. It actually helped me to not be crying out loud. Going into 2001 with a backorder of $9 million is not good news at all! I was hoping for $9 million in revenue for 4th Q 2000, doesn't sound like it's going to happen. Anything about AMEX, nope. Anything about mass production, yes, but when it's not something new does it qualify as news?
And the lower share price is due to some conspiracy by market makers and shorting bashers? Come on folks, there are some disappointed investors selling their shares.
Bummer, sorry to hear that. I didn't buy this one, but it sure looks tempting at these prices. However, I would really like to know more about this company before investing. There is very little information available about WLDI. Hard to do good DD.
Seahag, you missed my point. The first round of restricted shares (at least those from the convertible debenture to non-insiders) are not eligible to be sold until after Dec 21, 2000. Selling restricted shares between 12 and 24 months from issue is a complex process that takes a lot of time. The certificates have to be returned to the transfer agent along with a legal opinion stating that the sellor qualifies properly to be allowed to sell them. This takes a lot of time.) I believe most restricted shares will be held for at least two years just to avoid all this bureacracy. I don't think we are seeing restricted shares in this weeks high volume.
My point being that they are not in the high volume we are seeing traded recently. Also the trickle out shares from reverse merger with Gopher and the consulting agreements could not account for much of this volume.
So who is selling now? It comes down to investors who bought early in 1999 are selling for a profit and others who bought after Feb 2000 are taking losses. Some here have suggested that it is the MM trading between each other, but I don't understand the economics of this. If they are competing for shares to cover short positions, why doesn't that drive the price up? Maybe somebody else can explain this better.
I believe the earliest restricted shares to non-insiders were issued Dec 21, 1999. Does anybody have restricted shares with an issue date early than Dec 21?
I believe the high volume is due to people are selling and taking their tax-write offs.
McBride has stated that he uses two outside hand assemblers for SecureView production. It's interesting that SeaView is using this limited production of SecureView to give priority to "government" orders over individual orders. McBride is no dummy, he has to have a good reason for this. Sounds like there is more going on through Logitech than he is allowed to comment on. The retail market will always be there in the future, but these deals may need to be filled now or some other security system will get the business. This may really be good news as those orders could be huge.
I like the infrared Black & White (BW-150). Works great in our murky Pacific water, both in daylight and darkness. Of course if money is no problem the twin (both color and B/W) would be the best of both worlds.
FG, this whole censorship issue is a problem and I think it inhibits the overall success of this board. You stated that the policy is as follows:
"As a result, Personal Attacks, Slander against Posters or the Company, Spam, etc... are removed... Fair and untainted criticism of SEVU and Management have always remained.."
That seems fair but the real concern is the determination of what one poster feels is "fair criticism" might be judged by another as a personal attack or slander. The censorship issue in a nutshell.
I still like the suggestion I made back when this board was first started. We need a trashcan area where deleted posts could be stored and read if desired, perhaps even a way for other posters to comment on them. This allows the primary board to remain "clean" as interpreted by the chairman/directors, but eliminates the criticism that iHub is a one-sided board.
As I remember Matt liked the idea, but no action was ever taken. Perhaps it should be reconsidered, and might even make iHub the board of choice by potential investors.
Hello out there, anybody home? Has anyone find out anything about what is going on with WLDI? There has to be a reason for the huge RS. It sure looks like a bargain at this price. Sitting here on the buy button, anyone know anything?
Crazymoney,
Wow, super report. It confirms my belief that the timing of the AMEX listing is based on wanting to see the right market conditions for entry. His comments imply that approval is a done deal. SeaView's quarterly serial revenue growth looks great. Along with an improved market he may be waiting for the huge 4th quarter numbers to enter AMEX with a bang.
Thanks for the great update. Sounds more and more like this is great time to do some bargain basement Xmas shopping for Seaview stock.
Dave, I think you are right concerning our impact on share price. I hold a lot of shares as well, and I bought most of them before being aware that a message board for the company existed on RB or iHub. I also remember somewhere in recent due diligience that there are in excess of 800 individual shareholders of Sevu. In my opinion the 50 or so that might read these boards have minimal, or at best very short-term, impact on the share price. Serious investors base their decisions on the recommendations of professionals or upon their own DD. There are probably a few less serious investors who rely on the boards to keep up with current news and allow the boards to affect their investment decisions, and I think iHub serves better than RB in this area. And some of these may be affected by what they read here, but not enough to significantly affect the share price.
I read the RB board primarily for its entertainment value, and partly to hear the opposing view. I am probably the exception though, because few people have the kind of time it takes to read through all the garbage. Occassionally a point is made on RB that I had never considered before, and it gives me something new to investigate, but that is pretty rare. I think the hardcore cheerleaders or bashers who constantly post on the boards do it more to bolster their own ego, falsely thinking they are having an impact on other people's investment decisions.
FanClubBoy, I am certainly no expert but what you say rings true based on my past experience. About four years ago we LAN networked four computers together in a large home with two computers dedicated to our home business and two for the family to use. We shared a single cable internet connection, and everyone wanted access to the high speed color printer. At that time I was told by several "experts" that the 10 mbps would work but slow things down quite a bit, and prove to be a problem in the future considering the ever increasing faster hardware, software and internet link speeds. We used the 100 mbps ethernet cards and hub and it worked very well and very fast. We did have to do the wiring ourselves which was indeed a pain in the youknowwhat.
I kind of wonder about the future viability of 10 mbps based networks although I know a lot of people still use them.
One real postive for me from today's PR is that the new COO appears to be on board and getting oriented. The company really needs the help of a pro in this area.
Can't wait to walk into my local Home Depot and see SecureView on the shelves. I'll probably don one of the orange jackets and start selling the product to everyone who wanders by.
Bystocks, you should not have been accused of being a "stealth shorter" just for questioning something that you found on the AMEX site and asking for help in its interpretation. That was unfair to you and is more typical of what to expect over on the RB board. I hate to see it happen here. This message board needs to be a place where reasonable questions, concerns and opinions can be expressed openly. Investors, potential new or existing, need to feel free to ask their questions without risk of attack and accusations.
I'll risk the wrath of some on this board and express my honest opinion: we have had too many PR's touting new applications of the camera and IRFS patent. This kind of PR has lost its impact and will have little if any affect on share price. What we really need is the status of SecureView mass production, the AMEX listing, the Taiwan contract, and sales to the new retail dealers. Orders/sales updates on existing products, which will result in 4th Qtr revenues and earnings, will have a real impact on the share price. We have been very patient for a long time now and it is reasonable to want some news with a little more meat in it.
Does anyone know the actual steps that the company and AMEX go through upon acceptance? Does AMEX notify the company that they are accepted, and then it is up to them to choose the date, within some number of days? If so, maybe Rich has been sitting on acceptance while he puts together a media blitz. I wonder if the video ad on WSR is a first step of media campaign (http://www.wallstreetreporter.com/). I just saw it on Monday, has it been on there for a long time or is it new?
Anyone shed light on the actual acceptance procedure?
Even though SEVU hasn't done much today, the Nasdaq is up nearly 10%. Yeah! Now all we need is for Greenspan to make another few speeches like the one he just gave, and sore-Gore to do the honorable thing (Concede) and we can get this market into a solid sustained bull run!
Check out SeaView's video ad on Wallstreetreporter.com:
http://www.wallstreetreporter.com/
Go to bottom of page.