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FG, when you spoke with Frank Travis after the Sevu PR (I am assuming this is the one about the $80 Million Taiwan deal) did he have anything to say at that time about his quote in the PR?
Logis-Tech Director of Government Marketing, Frank Travis, issued the following statement:
"We have been working on a major contract with Taiwan. Top military
advisors have visited us here in the United States. In addition, our people
have made two presentations there. We have demonstrated the multi-camera
system from SeaView Video Technology Inc., utilizing the IRFS(TM) system.
Our overall contract is several hundred million dollars, and we have
allotted funding for SeaView's "SecureView" product.
"Security is a major portion of this sale, and SeaView will be
receiving an $80-million minimum order to provide cameras, IR floodlights,
and control CPUs. The SecureView concept provides an economical and quick
method of adding quality video."
FG, I looked back at SEVU and WLDC postings. From Sept 19 Views when questioned about investment in WLDC McBride stated that it was a personal investment, not through SeaView. Then Oct 23, WLDC PR stated they had received $75K of the $500K investment package. And since no Form 3 was ever filed , it doesn't seem to me to indicate things went much further. Seems to support your belief of no merger.
Next week should be interesting for both SEVU and WLDI.
FG, did you ever find a comprehensive DD on Isotec or WLDC? Did you do your own?
Paulmk, I couldn't find a Form 3 under World AM documenting that McBride went through with the $500,000 investment in WLDC/WLDI. Might be a good thing for him if he didn't the way the stock has been tanking over last few months and then a 37% drop today.
Or...... if something is going on (which I really doubt)......could account for our AMEX delays. On one of the posts someone suggested that SEVU/WLDI might be merging to go for a NASDAQ listing post-merger? Wouldn't that be something?
Just total guessing here, what do you think? (Why do these things always come up on a Friday?)
You're welcome and I sincerely hope I am not looking at the world through the preverbial rose-colored glasses.
CVIEW, I also am a little discouraged about the SeaView share price trickling lower. But I think all of us, including myself, were guilty of expecting too much too soon from this very young company. I think our expectations were a bit too lofty, very similar to the attitude that accounted for the huge run up in tech stocks over the last year.
However I don't consider that holding long with SeaView in this market to be "blind faith." In comparison to the rest of my portfolio, SeaView shares are holding up better than most. And several of these are very large (multi-billion $ revenues) tech companies with excellent profit growth histories, and like SeaView they are putting out great news too. The market is terrible right now with the election fiasco, and talk of a slowing economy and recession. Investors are extremely nervous now and bailing out of the market which forces share prices to new lows.
Once things settle down and investors re-enter, they will be looking for companies with the kind of revenue and earnings potential that SeaView exhibits. Hopefully by that time we will get needed investor exposure by being on AMEX. How long before this happens? Who knows? But I plan to give SeaView at least two more quarters to show whether it can convert some of that potential to real revenues and earnings, and establish some proof that this company is on track to become something really big.
The product market for the SecureView camera system still seems fantastic to me. And according to Rich we are finally are at the point where the product design has been fine-tuned and made ready for mass-production. The PR's concerning new retailers and government contracts, and the actual 3rd quarter 2000 results look pretty encouraging to me. I don't call this blind faith, but rather a rational reason to hang in there and wait for things to improve.
JJ, Excellent job on the new DD box. (It is new isn't it - I haven't looked at it for quite some time.) - Thanks either way!
Thanks for the useful site. Did you check out the profile on these companies going to AMEX. Really looked weak. Based on these examples, I would think AMEX would be chomping at the bit for a company like SeaView.
I don't see AMEX until 4th Q numbers are in. So After 2000 for me. (But I hope I am wrong!)
Johnny1, I think you are being a little paranoid. I do not believe that anyone on these boards has been paid in restricted shares (or in any other form) to tout this stock. Furthermore, I do not believe that anything posted on these boards actually effects the share price. I would caution anyone from making an investment decision to buy or sell based on information from a message board.
But to put your concern about paid touts to rest you should call out the particular poster(s) by name and give them the opportunity to publicly deny it. Would that help?
Not sure how long Investor's kit has been there. I don't remember it the last time I looked at this page. Contains good company background, product information, and most recent 10-Q. Hopefully they will remove the two pages on BBQ sauce that seems to have gotten in by mistake. I emailed SeaView and rlmcbride suggesting they remove this. Oh well, that's our Seaview....
Brett,
Thanks again for expanding on your earlier reported visit. I am most impressed with your desire to buy more shares since your visit. That alone says a lot. Looking forward to a significant PR and/or strong View from the Bridge in the coming days to kick up our share price, so that we go into the AMEX very strong. Good luck to all longs, and to the shorters - be very, very careful.
-srs
Brettin,
Can you elaborate on your visit to Sevu last week. Are they still still posting the huge sales like the $2 million per week that we heard back in early November? Anything concerning mass production? Anything said by McBride concerning the retailers or Taiwan contract?
Thanks, srs
Why do you believe AMEX is a long shot, 6+ months away? What do you base this one? It seems to me everything is in order to do it. I don't understand why a further delay, so can you give me your reasoning here?
JJ,
Thanks for your work on detailing the conference call. We really appreciate it!
We who missed the call really appreciate your efforts. Thank you for the detailed report.
Why no AMEX now? We would only be guessing. Only Rich McBride knows the answer to your questions. Maybe a new View from the Bridge will address this, but I would think that AMEX and/or SEC has strict rules about any pre-announcement.
Does anyone know? Is there some sort of Proxy concerning a new listing? What is the purpose of the Proxy statement that Rich promised would be on time? Is that just for announcing the items under vote for the next Shareholder Meeting?
Read RB Post #12249
Sounds like Seaview will be playing hardball with the shorters:
By: videoveep $$$
Reply To: None
Monday, 20 Nov 2000 at 9:10 AM EST
Post # of 12254
TO WHOM IT MAY CONCERN:
This law firm represents SeaView Video Technology, Inc. f/k/a Seaview Underwater Research, Inc.Please be advised that internet postings relating to SeaView are routinely monitored. While SeaView encourages communications that provide current and potential investors with useful information, some postings may not fit this category. Some postings may contain untrue statements of fact or express a statement that is not supported by credible authority and data. In fact, some statements may even be made in an attempt to improperly influence investment decisions. Should it become necessary, SeaView intends to use all lawful means to investigate the identity of those who publish defamatory or misleading statements about the company, its performance and its management and to pursue legal action and other legal recourse, as considered appropriate.
PLEASE BE GOVERNED ACCORDINGLY.
ENGLANDER & FISCHER, P.A.
Mark M. Wall, Esquire
721 First Avenue North
St. Petersburg, FL 33710
The best way to get the answers as they pertain to your shares is to deposit the certificate with your brokerage house. They have the means to research it for you and give you exact information. They can also help you with the various forms that the broker and SEC require before you can trade these shares. That is what I have done with mine.
Paul,
Don't be duped by Shamus. The posts he quoted, at best, may have determined the link between McBride and the poster known as Miluky. McBride stated that Miluky was a long time associate who felt a need to fight for and defend his friend McBride and SeaView. Based on the posts it does sound like they worked together on the BLAZE-OUT thing and both feel instrumental in its success. So what's the big deal. I believe McBride.
Notice how this stuff always comes out on Friday late in the day. Just like last week. Don't you wonder what they have planned for next Friday?
-srs
SeaView is a great buy, just wish I had the funds to buy more, but getting murdered on my other investments. Tough time in the market. I need to learn to use Stop Losses better!
Looking forward eagerly to a PR that re-affirms the Taiwanese deal. Rich seems very confident that it is a done deal, just bureaucratic complications. Hope it comes soon. We need the price boost. This along with a strong forth quarter would really set us up perfectly for a fantastic run when we get the AMEX listing. Can't hardly wait!
Did they mention a JV with QualcommTel specifically by name when you talked to them? Or just that their licenses would allow them to do a JV with someone like QualcommTel?
Checked with my broker (Fidelity) today about the restricted share certificates (Conv Debenture shares.) First time I have every held restricted shares like this. They require four unique forms for depositing the shares with them. They have the blank forms available online, so that part is easy. You can sell the shares during the second year but you have to have the SEC Form144 on file within 90 days prior to selling. So to have the option to sell throughout the year, this form needs to be filed every three months. If you sell only a portion, the certificate has to be proportioned out and reissued by the Transfer company each time you sell. After two years the certificates can be reissued as free-trading shares. I plan to hold this company for long term big return, but do want to have the option to sell if necessary.
If you are holding restricted share certificates that are nearing the end of the one year restriction period, you might want to start the ball rolling on this.
Just left RB with a TOS and Ignore on 739RTK.
Absolutely nothing worth reading there, just the bashers, so I turned out the lights, locked the door and left. Hope SLASH and Proxime can find their way out in the dark.
Will monitor occassionally for any one trying to make a serious posts, and direct them over here.
Doug,
The total number of shares outstanding were stated in the 3rd Qtr 10-Q effective 9/1/00 at 15,452,288. However for calculation of EPS over the 3 month period the time-weighted average was 12,971,164.
I am only guessing about this, but it might be that shares under restriction are not included in the time-weighted average calculations of EPS. If I am right about this, we should use the higher number for future EPS estimates since most restrictions should be ending over the coming months. Again, I am not an expert and you might want to check with someone qualified to give a definitive answer. Does anybody elses on the board know if this is right?
The total number of shares outstanding were stated in the 2rd Qtr 10-Q effective 7/30/00 at 14,826,956. This is an increase of 625,332 shares during the third quarter.
The SeaView website (as well as most of the stock databases) still have the 2nd Qtr number of shares outstanding, but they should be updating databases some time soon.
Hope this helps
-srs
SheTrade,
I guess my point about the Denta-cam is that SeaView has plenty on the plate already with the security business. I just would like to see the SecureView product line squared away a little better before taking on too many new markets. There is still a lot to do and the potential here is enormous. With efficient mass production it should be a big winner and reward us all handsomely. Wouldn't you agree that the consumer and small business security market has to be several thousand times bigger than the dental market?
BTW, my dentist uses one of the fancy fiber optic cameras hooked into a VCR/TV along with a photo-printer. The viewing tip is very small and flexible, about 1/8 of an inch in diameter if I remember correctly. Looking forward to seeing how small Sevu can minaturize their camera.
Anyway, we will both be watching to see how this develops as we get more info. Wishing all the longs well!
-srs
dk,
I think your comments reflect the feelings of many of the readers on this board. You are right, not everything goes exactly as we would like it to for Sevu. We have had our share of surprises for sure. Sevu has areas that need improvement, as do all companies, especially those going through such explosive growth. We are probably more aware of these issues than investors in other companies because of the CEO's openness in View Communications and response to inquires.
Sevu management constantly balances on the tightrope of openness with shareholders without revealing too much to competitors.
Please don't stop posting, dk. For this board to be useful we need input from many investors, not just a highly vocal one of two.
-srs
Sorry Bull, but my approach is different than yours and I am confortable with it. I always will have a certain degree of healthy skepiticism when viewing information about investments, especially OTCBB companies. On these boards there is often too much RAH RAH and too much negative bashing. History proves that the facts often lie somewhere in the middle.
Please spell out what you are trying to say about the "IMPLICIT meaning" of the recent VIEW. I don't want to misinterpret you.
Sorry Bull, bad choice of word (parade) on my part.
I am still skeptical about dental cam. Opens up a host of liability once someone starts sticking your product in patient's orifices. Different world entirely from consumer market for security camera. I trust they have investigated this area (or will) carefully before problems arise. -SRS
Searcher18, excellent suggestion to separate sales from revenue column. Hope FG takes note, then there won't be confusion and disappointment when revenues are lower than sales. As SEVU grows the gap between the two may actually widen as orders (sales) outpace shipping (revenue recognition). McBride seems very cautious about the mass production run, and justifiably so. Also your point about long term purchase orders is further reason to do this, as PR's about these future sales will further raise expectations for higher revenue.
I hope you are right, but I don't think so. We'll see, but I am not counting on this product any time soon.
I can't give a consensus, just my opinion. 3rd qtr came in good considering the early stage of this company's growth. I think everyone was expecting to see $4 Million of revenue, and a little disappointed with the $2.5 million. But because production was behind sales orders, they could not ship about $1.5 million of the orders by Sept 30 and thus not claim it as 3rd Qtr revenue. Bashers will make a lot of noise on this one, but this $1.5 million will be pushed into 4th Qtr.
The only other concern is the high level of trade accounts receivable. My guess is they are at the mercy of the terms of the agreements they have with the large retailers. Once the SecureViews are in the stores and start selling, I am sure this will take care of itself.
All in all I wasn't disappointed. Good to see that the stockholder's equity exceeded the $4 Million level, which paves the way for AMEX acceptance, which is the next step.
Long and wishing I had more funds to invest at these ridiculously low prices.
dk76, you're right about the actual revenue. FG is adding the extra $1.5 million of 3rd Qtr sales (orders) that could not be booked as revenue, because they didn't have the product to ship by Sept 30.
Did you ever get the date figured out for when the restrictions come off your shares?
Also remember they didn't start getting the big volume of orders until the last three weeks of the 3rd quarter. Then of course they had to be shipped before Sept 30th to make the revenue line. I think 4th quarter is going to be the real kick off for the stock to fly. Too bad we have to wait and be a little more patient, but that's the real world.
Bull, don't mean to rain on your parade, but.....the Denta-Cam would most likely be considered a medical devise and will require some type of FDA approval which can take a lot of time, money, and effort. Although it is considerably easier when it is a product similar to existing FDA approved products, it still a bureaucratic nightmare. Lots of stuff to prove, like how do you sterilize the camera and prevent contagous agents like HIV from being transferred from one patient to another. A big concern in dentistry. And the product liability costs are outrageously high. Just the direction inserts will be a *****, nothing as simple as the instruction sheets they have with the SecureView or marine cameras.
Doubt if they have even explored this yet. I use to work in the medical business and it is a whole different world. I would almost bet this idea will end up on the backburner until they have more fully tapped much easier markets for their product, like home and small business security. JMHO
Actually $2.5 M, not $1.5 M, or 7500 units would have been shipped (if they were all SecureView which they weren't.) What it really means is that they have orders for 3750 units that have not been produced yet.
Yeah, you are right. Sorry we keep correcting each other. I had to go back to my old accounting text and review the whole thing. According to 10-Q SeaView recognizes revenue when they ship. They don't have to be delivered or paid for to go to the revenue line, they just have to get them out of the building and on their way.
McBride, like all marketing/sales oriented CEO's I ever worked for, love to count the orders that come in the front door as it represents the first step in making earnings.
The key here is obviously production. If they can get ahead of the orders and actually have finished product inventory, then the sales are converted to revenue in just the time it takes them to do the paperwork and ship them out the back door. In some companies, like Amazon this is only a matter of minutes from when an order is made by a customer on the internet. We won't have this confusion then between the McBride's sales PR's and the income statement's revenue line. Can't wait for that!
Yeee-haaa! Love those earnings and shareholder equity, but a little disappointed that revenues were less than $4 million. Bashers will probably make a big deal of this, as usual. 4th Qtr should be a real blockbuster. We are on our way!
No doubt about it not being McBride, although Miluky is obviously someone very knowledgeable about Seaview and a strong defender when questions about the company came up. If it was McBride posting I think he would have admitted it in his Videoveep post yesterday, since there was nothing in the Miluky posts that indicate false information or pumping.
The bashers are here in full force, and only because they want to steal shares at these ridiculously low prices. Don't be foolish and fall fall for it. We are now poised to climb once the election fiasco is behind us.
Hopefully we'll get a new PR that elaborates on Friday PR's headline: $2 Million last week . Folks, that is big! It should have been in a separate PR by itself with some details. That scarry word "complications" totally offset this fantastic sales result and left to much dangling in the wind.
So....Miluky is a dealer, not McBride himself, and being a dealer that is why he knows so much and has good access to info from SeaView people. But still seems very strange that he chose to post using the email name registered to McBride back in 1998. Is there a reasonable explaination for this? Perhaps one of the first dealers and McBride set up the email for him? Would the real Miluky please stand up and post something to us?
About sales and production: $2 million worth of SecureView product shipped in one week, following several half to full million $ weeks . That would have to be over 10,000 units in last 30 days or so. Can't imagine assemblying, packaging and shipping that many by hand without an army of people and huge space. Have they completed a large production run? The packaging and shiping alone of this number would be a large task. Anybody know facts in this area?