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I've spent nearly .75 cents for some good info on SEVU. I heard this week they will sign a department of defense contract for upwards of 450 billion with the majority of it going to homeland defense. I also heard they will be installing them at Guantanimo(sp) Bay to watch the Taliban comb their beards.
Good morning SEVU stock bag holders. It's a lonely road. I must confess that I still own some restricted shares. Poo poo.
SEVU's answer was due yesterday on the class action allegations. Ann really hopes to get her money back. What say you, gotinearly?
Posted by: shamus
In reply to: paulmk who wrote msg# 13661 Date: 12/19/2001 10:58:04 AM
Post # of 13926
Paulmk, this update courtesy of BRMC on Raging Bull:
Class Action:
12/17/01 22 AMENDED COMPLAINT by Ann H. Scheuer, William J. Henry, Christopher Henry, Robert J. Tarjan, Raymond Howlin,Dolores Gouvert, John Grammatico, Irene Wengel amending [1-1] complaint (Answer due 2/19/02 for Richard L. McBride, for Seaview Video ); jury demand (bls)
[Entry date 12/18/01]
They dropped the bid to 18 cents and someone promptly bought 10,000 shares. Then they popped it back up to 22 cents. SEVU as a stock is nearing worthlessness.
schoffer
Here is what you wrote to me back in June. Please change your alias so that I may at least fancy some hope. So sad.
Posted by: schoffer
In reply to: paulmk who wrote msg# 9290 Date: 6/4/2001 2:01:15 PM
Post # of 13885
Paulmk: I heard Seaview shipped more then 1,000 SecureView last week. And they are shipping thousands of them this month. Less then 10% of the +$9 million order is being cancelled. I hope they will announce the same soon.
Big contract? That would be nice. But judging on the selling today, it appears you may just be selling your shares. Enjoy the week end and be thankful that we are free.
Next week is financials. I wonder if SEVU got a lawyer to respond to the class action? Anyone with insight?
The only mission Huffy is running is a daily charter boat out of St. Pete. His mission is to seek out and capture, dead or alive, the mighty grouper. Ya ought to go back a read some of his quotes from the past PR's. I wonder when he sold his shares?
Bizz, someome is selling. Not a good sign.
Danno talking to Mike is just that. Talk.
Here is another great piece of published guidance from the May 1, 2001 PR
From the CEO of SeaView Video:
"There is definitely a lot of selling, manufacturing and shipping happening at SeaView."
Ouch. I guess the definition of 'a lot of selling' means different things to different people. Selling $2000.00 a day in product on average for 3rd Q.2001 must be a lot for George.
If they sold them for $200.00 a piece, that means they were averaging 10 SecureViews a day and not selling one piece of Underwater product. Although I'm sure they did sell some underwater cameras and therefore, sold even less Secureview.
Nothing they say can be trusted much less some off the cuff remarks at a trade show.
Still optimistic if they can keep their doors open. Class action answer from SEVU is due soon. If not, they will default and owe the entire amount. That coupled with year end 2001 earnings due in mid February may spell severe pain for this public company. But who are we to complain. The Pres. says they are selling a lot.
I love travel stories. Especially when they can be told with personality. Ma'am, you can write. My wife and I would love to hear more.
My wife and I just got back from St. Pete. Each year we take the kids to visit Grandma who winters there. Grandma and I went to the 16th floor of the Republic Bank building to check out SEVU's offices while the wife and kids went to the Pier. The kids love the trolley car ride.If SEVU is going under at least they are doing it in style. What a view. Most personnel were at the boat show inside Tropicanna field and thus we just spoke to a secretary. The COO was present but we just exchanged smiles.
Mid January is not the time for shore fishing, except for some sluggish sheepshead. Go SEVU. End of the year financial statements due in a few weeks.
Broker, you said: RCA said they sell about 1 million phone jack a year and they expect the same for Secureview.
I shouldn't ask, but how can RCA compare a phone jack to a camera? How do you propose that RCA will sell Secureviews. There isn't a RCA store. Don't they build electronics and sell them to the Sears and Circuit Cities of the world? Just what you talkin bout Willis?
Alas, another trade show. eom
According to your math SEVU should be at .185 cents.
shamus; Here is the last info you provided.
Posted by: shamus
In reply to: bigbizz who wrote msg# 13268 Date: 10/16/2001 11:03:28 AM
Post # of 13660
New filings in proposed class action lawsuit:
[ SELECT EVENTS FROM THE DOCKET REPORT FOR CASE: 8:01cv00957 FOR THE PERIOD 10/01/2001 to 10/20/2001 ]
10/9/01 MOTION by Seaview Video (unopposed) for Foley & Lardner to withdraw as attorney (crb) [Entry date 10/11/01]
10/12/01 ORDER granting [18-1] consent motion for Foley & Lardner to withdraw as attorney (Terminated attorney Douglas M.
Hagerman for Seaview Video, attorney Richard S. Davis for Seaview Video). Seaview Video shall retain other counsel
and cause that counsel to file a notice of appearance in
this case within 30 days of the date of this order. Seaview
Video is notified that a under the law a corporation is not
authorized to represent itself and must be represented by
counsel. ( Signed by Judge Richard A. Lazzara ) ctc (jnb)
[Entry date 10/15/01]
Docket as of October 16, 2001 0:39 am Page 9
Proceedings include all events.
8:01cv957 In re: In Re: SeaView Video ARBCAN
LEAD EAJ
10/12/01 MOTION by Ann H. Scheuer, William J. Henry, Christopher Henry, Robert J. Tarjan, Raymond Howlin, Dolores Gouvert, John Grammatico, Irene Wengel for an extension of time until 12/17/01 or 30 days after Seaview Video's new counsel makes an appearnce to file an amended consolidated complaint, and for all defendant's to file a response within 60 days after the filing of the amended complaint.
(jnb) [Entry date 10/15/01]
[END OF DOCKET: 8:01cv957]
shamus
What is the deal on the class action suit? SEVU was to announce a new lawyer. Did that ever happen? Also, wasn't today a deadline date for some filing? Thanks.
Dan, were you basing your opinion of SEVU shutting down due to no trades the first few hours. I just want to temper the info you got. They are still answering their phones.
More people buying SEVU stock. As I sit and watch the big board, I click on my hapless OTCBB stocks and shake my head. Who is buying SEVU? Well, God bless them.
My cousin has more money in the bank than SEVU does and he is a seasonal worker with a drinking problem. I wonder if SEVU has a drinking problem? Are they seasonal? Have a nice weeks end everyone.
If ya ain't got nothing ya shouldn't publish a PR. There are many who have not sold, reading this thread and who are holding the bag. Lots of selling today but someone is still buying this security. Like Allthat says, I should use my imagination on why people are buying this security. I usually just think about women and beer. Oh, and all the spew from insiders that was put on this and other boards over the last couple of years.
Allthat
I really do not mean to put you down. I just clicked on two of your entries to this board. Here is the other one.
Please tell us what good news is coming since the last PR outlined sales that were almost nonexistant.
Posted by: Allthat
In reply to: None Date: 10/9/2001 1:31:35 PM
Post # of 13626
Cabos
You couldn't be more wrong.
When the next PR hits this stock could easily see $5. There is so much good news to come
You really do not have Allthat much going for you. I cannot value your opinion. Here is what you said about retail sales two months ago. Is George telling you that we'll all soon find out why people are buying?
Posted by: Allthat
In reply to: None Date: 10/1/2001 10:22:47 AM
Post # of 13625
FG Retail sales have exploded
just my honest and humble opinion.
And yes I've talked to George.
One must ponder who is buying this security today. Moreover, what are they basing their opinion on?
To better days ahead.
Have a good weeks end everyone.
ST. PETERSBURG, FL, September 19 (BusinessWire)--SeaView Video Technology, Inc. (OTC BB: SEVU)
SecureView, the "Security Camera in a Light Bulb," continues to garner the spotlight and the attention of media, buyers and consumers. Most recently SecureView was featured in the October 2001 issue of Popular Mechanics. ABC News "Good Morning America" has aired a segment in which home improvement editor Ron Hazelton presented SecureView as one of the "Hottest New Hardware Goods."
Bloomberg L.P. also singled out SecureView as a "hot item" in their coverage of the International Security Conference & Expo in New York. SeaView's Christy Mutlu, VP Sales & Marketing, provided an interview and product overview, which aired on Bloomberg Radio flagship station WBBR AM 1130. SecureView also appeared on the front page of the September 1, 2001 Home & Garden section of the St. Petersburg Times in a feature article by Alan J. Heavens, "New at the hardware store."
The attention is expected to continue when SecureView and the Parking Lot Surveillance System [SPLSS] is displayed at the ASIS International Annual Seminar & Exhibit in San Antonio, TX from October 1-4. Lastly, Costco Wholesale Corporation confirmed that SecureView will be promoted in the November "Costco Connection," a B2B marketing mailer distributed to over 3.5-million businesses.
Here is some more guidance provided by the company.
From the May 11, 2001 PR.
"As SecureView production and fulfillment continues to ramp up, the Company is re-confirming the $9 million in backorders with customers and dealers, to process for shipping."
Here is another great piece of guidance from the May 1, 2001 PR
From the CEO:
"There is definitely a lot of selling, manufacturing and shipping happening at SeaView."
Ouch. I guess the definition of 'a lot of selling' means different things to different people. Selling $2000.00 a day in product on average for 3rd Q. must be a lot for George.
If they sold them for $200.00 a piece, that means they were averaging 10 SecureViews a day and not selling one piece of Underwater product. Although I'm sure they did sell some underwater cameras and therefore, sold even less Secureview.
From the April 11, 2001 Press Release.
The words of the current SEVU CEO:
"We are contracted to produce 20,000 units over the next 90-120 days. This will allow us to fill remaining backorders and begin shipping future demand from SkyMall, Inc."
So they had a contract to produce 20K units between May and August 2001. Based on the filings, it is obvious they did not fufill that contract.
I'm not sure what you guys expect. This company is almost nonexistant in terms of revenue. They hopefully have absolutley nothing to say. They better be on to plan B or else we'll have a 100 million shares by the end of the 1st Q 2002 or be bankrupt.
What's wrong with putting this product on QVC? I think it's based right in Clearwater. If you see the product work and understand its capabilities, you might buy it. No one buys an unknown product off the Internet. Ge this thing demonstrated at Best buy for cripes sake. Radio shack is another store it will sell.
Stick a fork in this security to see if it is done. So much potential, so little time. It really is sad. Get out why the getting is good. This stock should be trading at less than .20 cents.
My comment on no sales was not meant to be taken literally. The fact is BigBizz, their business plan has failed miserably. They thought, and I did too, that they would be able to sell enough SecureViews online to get some much needed revenue. It didn't work. I knew going in that it is tough to sell an unknown product over the Internet. I didn't know it would be such a failure, however. Those ads in Readers Digest, Pop Science, etc, which I think were sponsored by one of the Internet sites on SEVU's website, should have generated some sales. They didn't. Time for plan B. Maybe 2nd Q. 2002?
We do not have any idea how many Beta sites exist. I'm guessing four of them. I think the critical investor of SEVU must ask why there has been a change in marketing strategy from retail SecureViews to commercial parking lot applications without any real guidance from the company.
Everyone should look into the 3rd 10Q and see how much revenue they really earned from product. It's less than what appears. It really is pitiful. I wish I was a fly on the wall at SEVU when these guys started to realize they were selling next to no product. Day after day throughout the third quarter and no sales.
Even though I'm still long, I do not have much faith left in management to deliver. Look at the revenue stream for the third Q. They may have some contracts to sell product but they are not converting those contracts to cash. They have made errors in sales. They could be throwing their money down the drain. It's been done before many times. Belief and desire are needed for a product to suceed, but creating sales is the only thing that matters. SEVU gates an F for third Q.
Another glaring problem is the 9 million in back orders. They did not materialize. It also stands to reason if SEVU was able to create 9 million in back orders last fall, they should have been able to manage a few million in 3rd Q. .
BigBizz: Could you please provide the figures for the 700K plus the insiders put into the company last Q?
OT: French don't want to negotiate
NBC, MSNBC AND NEWS SERVICES
Nov. 16 — U.S. soldiers in Afghanistan have begun a more aggressive role, Defense Secretary Donald Rumsfeld said Friday, exchanging fire with Taliban fighters and even killing any who won’t surrender. Those soldiers were being joined Friday by dozens more U.S., British and French troops sent to secure key airfields. Hoping to secure a Taliban collapse within hours, the Pentagon also continued airstrikes on Kandahar, the city that is the birthplace of the Taliban movement.
Now, if we just could convince Italy to commit some men. The U.S.A. gave so much to these two countries, it is nice to see the French willing to spill some blood, even if it is just a little.
My great Uncle gave everything to the freedom of Italy.
Yea SEVU has problems.
Bigbizz, you and I could sell more secureviews out of the back of our trunks than SEVU did last quarter. The company, near as I can tell has only made a few thousand Secureviews in 2001. Maybe not even that many if they sold ANY marine products and counted them as revenue, which is even more frightening as they are suppose to already have a competent distributorships in place for that sector. There business plan did not work.
9 million dollar backorder. Huh?
This is reality check time.
It did not happen. they are sitting on less than 1 million in accounts receivable. It is crystal clear there was not a 20K production run. Assuming they managed not to sell one underwater camera, this company has not produced more than 2000 or 3000 Secureviews this year. They certainly have not sold that many. The numbers are so small they look like cookie sales for the local girl scout troop.
Bigbizz
I missed that. If correctly stated and presented to this board then that is a bullish sign or evidence of a retarded blinded insider.
In all fairness Diverdan
From the May 11, 2001 Press release:
"As SecureView production and fulfillment continues to ramp up, the Company is re-confirming the $9 million in backorders with customers and dealers, to process for shipping. ``In the last four days, we have shipped $40,034 in SecureView credit card orders. Also, we have already received reorders from SuperCircuits, Inc. and View-It Security of Arizona. SecureView systems are now listed and published in SuperCircuits, Inc. catalogs,'' said George S. Bernardich III, CEO."
Numbers don't lie, people do.
I really did not expect great sales from the Internet sites. People buy products on the Internet they are familiar with. I've stated this many moons ago on this thread. I was hopeful that the ads in Readers Digest and Popular Science, etc. would generate sales in the 1000's. But they did not.
The filling back orders from nine million in sales is a crock. No doubt about it. If it were real they would have captured at least 15% of the initial sales. The company is pennyless and cannot sell it's product. Heck, my kid nephew has more $ in the bank than SEVU. Since they have no revenue to speak of, dilution or massive debt is occuring and will occur in the near future. I'm sure most investors were reasonably hopeful that SEVU was selling enough product to meet expenses and have cash to produce more product. That's how a business is built. That is what SEVU management was counting on, but it failed. Here, the business is being cannablized from within.
The idea that SEVU will come to market in any traditional sense is now over. Welcome to the OTCBB hell. Too bad.
Just a note to the board. I'm not selling my stock cause I still believe in the product and believe it will be popular with the public. The only problem is getting them to see it. I will not buy anymore shares unless it dips down into the .30's again. ha!
Well its safe to say they did not even sell 1000 Secureview in the third Q. I'm pretty sure I along with a half dozen spirited salespeople could have sold more door to door working part time through three month period.
Financials are due tomorrow.
I'm guessing 5 million.
No, I'm dreaming 5 million.
I'm betting on an extention.
Still lost in space with SEVU.
27 or 28 million shares.
My secret admirer told me so.
What does it take to get a PR?
Put the share structure on the website.
Looks like a two bit scam OTCBB not publishing share count.