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So what you’re saying is that you don’t have a clue. You’re basing your claims on the comment of a salesperson on a TV shopping network. I don’t recall the details of the Annual Report, but I seem to recall that they reported only one customer who accounted for more than 10% of their total sales. We all assumed it was HSN since no one else sells it, but I doubt the company name (HSN) was stated in the filing. BTW, it concerns me that they have now lost their largest SecureView customer (again)!
Anyway, for the sake of argument, let’s say the Annual Report identified a major company who bought/sold 15% of their products. You look up the total revenue and do the math. The only problem is that you can’t determine how many units sold without knowing the price per unit. How did you figure that one out?
I’m also looking forward to the impressive results of the 30 TV spots reportedly shown in Orlando. Wasn't that supposed to be about 2400 units by your estimates? That should have been worth a PR!
Kevin, you need to make up a story and stick with it. First you claimed that the order quantities for HSN are reported in the SEC filings. Now you claim they announced them on the air but you don’t care as long as they sold out. Not that I expect you to care, but some of us are interested in how many they sold. HSN had to reduce the selling price twice to move their inventory. If they had thousands of systems there’s a chance that SEVU may have made a few dollars. If they only had fifty, the fact(?) that they “sold out” is completely meaningless.
Good info Biz!
Now, how about those HSN order sizes?
Looking forward to it, thanks!
SEVU (or HSN) reports order sizes in their SEC Filings?
I guess you must be right that I don't know how to read them. This would be an excellent opportunity for you to gain some much needed credibility. Please post the info. I look forward to it.
Also, how about those 2400 cameras in Orlando? Did that happen? Since that would appear to be more than HSN sold in seven months, it would certainly be newsworthy.
Thank you
So what you’re saying is that all the hype and excitement over HSN was for a couple thousand cameras? C’mon Kevin, I can’t believe even you’d be that naïve. Now you’re estimating 4 sales per minute on Shop America? I want some of whatever you’re smoking! You told us on RB that they ran a 30 minute infomercial twenty times in Orlando. Does that mean they sold 2400 SecureViews?
Also, would you please back up your claims that HSN started with 1000 cameras?
Hey Kevin, about that "Audiovox deal", how much money did SEVU make on it?
Isn't that what it's all about? HSN appears to have failed, and Costco obviously did as well. You're always so optimistic about SEVU. You obviously know something the rest of us don't. Please share it with us!
HSN Clearance section!
SecureView 78.95
That is NOT a good sign!!
09:43 ET For SeaView Video Technology Inc.
SeaView Security Camera in Light Bulb and Power Line Technology
Addresses Heightened Need for Creative Security Solutions
TIERRA VERDE, Fla., May 1 /PRNewswire-FirstCall/ --
Sea View Video Technology, Inc., (OTC Bulletin Board: SEVU) an emerging leader
in the design, development, and manufacturing of products and applications to
transmit audio, video, voice and data over powerlines, announced that it has
retained MRB Investor Relations LLC as its investor relations counsel.
SeaView recently completed a sourcing trip to the Pacific Rim, which
resulted in the signing of a Memorandum of Understanding with China Silian
Instrument Group Co. LTD to develop a joint strategic manufacturing agreement
and explore a distribution agreement for SeaView products in China. The
Company has also committed to steps in rejuvenating its marine business with
focus on boat shows, dealers, and regional sales representative groups. These
relationships combined with the emerging market of powerline communication
technologies position the Company advantageously.
Commenting on the recent appointment of MRB, Mr. Bernardich, Chairman &
CEO of SeaView said, "The SeaView team looks forward to working with MRB and
its in-depth investor and public relations experience and its specific
expertise in the security field. Due to the recent exciting events in the
United States and China, we feel it is now appropriate to present the story of
our progress to the investment community as we expect more exciting progress
to come in the near future."
I agree, it seems like a no lose situation. I guess I'd just like to learn that they have engaged some true experts. Admittedly, they can't afford to spend much, but by the same token, can they afford NOT to?
My view on the company remains as it has for some time. I think they should select one or two products and focus all of their resources on marketing and selling them. This company employs less than ten full time heads, yet they continue to dilute what little bandwidth they may have with "new" ventures. IMO, they don't have enough money or manpower to effectively sell one product, yet these guys think they can develop, test, market, sell, and support multiple product lines. At the same time, they have to manage their vendors, find ways to pay their (many) bills, and battle their legal and PR problems. And some wonder why the stock price continues to drop?
I know it's easy to criticize from the cheap seats, but it sure seems obvious from where I'm sitting.
I hope SEVU is doing this as a community service, rather than a genuine desire to attain marketing expertise.
It’s not that I question whether or not four students may be smarter than SEVU mgmt, but it seems to me that SEVU could use some slightly better qualified assistance. It’s also interesting to note that the announcement claims that “Both of these products are currently achieving success in the US”. I’ve been watching this company for about three years, and I have yet to see anything to indicate “success” for any SEVU product. It sure would be nice if they’d disclose some of these “wins” to the shareholders!
They were on twice yesterday. The first time was another night owl timeslot, but the second was 7:00p est, which is nice. I didn't see either, but a couple of people on Raging BS said it looked good.
HSN has reduced the price of SecureView again. Currently $109.72. Instructional VHS tape included and inventory has been restocked.
You're a wise man. Raging BS is mildly entertaining, but it's certainly not very educational.
I agree with you about keeping quiet until deals are signed. It's such a refreshing change in the case of SEVU. My comment to Biz was in response to his claim that the products are already on store shelves, but no one will say which ones. If they're already there, the deal has been made, and there would be no reason for secrecy. In fact, keeping it a secret would appear pretty stupid, since it's not confidential if a customer can walk in and find them, so why not announce it in hopes of stimulating sales and some much needed investor confidence?
I'm very cautiously optimistic about SEVU at this point. I don't know if you bother to waste your time reading Raging BS, but I bought a few shares yesterday. Certainly not enough to care about either way, but since I've been so critical of SEVU when they make what I believe to be bonehead moves, it's only fair that I should acknowledge the positives.
Time will tell.
Hey Biz, for those of us who are a little slow, would you please explain why either SEVU or retailers selling SEVU products would want to keep from announcing the names of stores where people can buy the products? It seems to me that it would be in everyone’s best interest to know where they can buy the products.
Somehow I question you’re sincerity in soliciting my thoughts on the new product, but since you asked, I’ll tell you what I think. I think it’s a mistake. It has nothing to do with the company focus (although “focus” isn’t a term that is often used with respect to SEVU). It bears no relevance to any SEVU product. If the illustration on the SEVU website is accurate, the product doesn’t even carry a SeaView logo, so there isn’t even a marketing benefit.
Whether people care to admit it or not, SEVU is in very serious trouble. They have a novel product, which many of us thought had great potential, but for whatever reason, the company has been unable to find and maintain a viable (and profitable) sales channel. I know there’s much behind the scenes that we never see, but it doesn’t take a great deal of insight to see that they have lots of products, none of which are selling significantly. IMO, they need to focus all of their resources on one product and see if they can find a way to pay their bills without having to keep borrowing money.
The Market isn't down 90% from a year ago. Why is SEVU?
You're probably right that several major retailers selling products would have a positive effect on this company. Even ONE major retailer would be nice, but it doesn't appear to be happening.
SEVU has had funding for years. They have had products for years. If they had sold their products, they wouldn't have to keep searching for additional "funding" (aka debt).
Okay Biz, so we all know you're pretty slow, but do you honestly believe that one dealer selling a few products will save this company?
HSN may or may not have "sold out", but we all know they had to reduce the price because they weren't selling, and they haven't been on the air since the first (and ONLY) day. When was that, about two months ago? BTW, can you prove they sold out? Last time I checked, they had a few in stock, but haven't sold a single unit for two weeks. IMPRESSIVE!
Costco was different! They didn't have to discount their inventory. They just RETURNED IT TO SEVU!
"MORE" good news?
I'm still waiting for the FIRST good news!
Weren't you posting these exact same dreams a year ago when the stock price was 10 to 20 times higher than today?
What happened?
I believe the parties in the CA have reached an agreement in principle, but it has not yet been approved by the courts.
As for Satius licensing technology to SEVU, I'm betting that it's an exclusive deal because no one else will buy it. Why else would any company agree to an exclusive deal? The exception would be if a huge player came in and could instantly and obviously perform a miracle which would result in a single company exceeding the sum total of all other potential customers, but even at that, it's probably unwise. Regardless, it's clear that SEVU lacks the products or potential to make it on their own.
Another possible reason to sign an exclusive would be to offer a strategic partner a marketing head start. In this case, the "exclusive" deal is for a finite period of time.
This deal may be a good deal for SEVU, but it sure doesn't make Abraham look very smart. Unless, of course, Abraham pulled off a coup by getting someone to pay for a worthless technology.
Is this good news?
Before Biz accuses me of refusing to acknowledge “good news”, would someone please clarify a couple of things?
We know Charles Abraham reportedly created “PLC Technology”. I’m trying to figure out why, if this is such an interesting technology, has no other company utilized it? I haven’t spent much time researching it, but at first glance it appears as though VideoCom received US Patent No.: 5,592,482 issued on 1/7/97 covering video distribution over power lines, as well as US Patent No.: 5,818,127 issued on 10/06/98 covering analog and digital video over AC and DC power lines. Depending on which patent SEVU is utilizing, this suggests that the technology has been available for either 5 or 6 years. It may have been new and interesting at the time, but anyone with a clue about recent technical developments knows that “PLC”, at least as it’s used by SEVU, is crude and only marginally effective when compared to alternative technologies.
That’s not my primary question, however. Again, I’m not trying to look for the negative, but I can’t help wondering about a couple of things that don’t seem logical. The company who apparently developed and/or owns PLC technology has changed their name three times during recent years (Wire 21, VideoCom, and now Satius, Inc.). A web search for Satius, Inc. reveals nothing. VideoCom isn’t much better, although you can at least find Abraham’s site (not sure if it’s current). I didn’t waste my time on “Wire 21”, as the words are generic and would likely reveal a ton of unrelated hits.
My question is this: Why would Charles Abraham (or whomever) sign an exclusive agreement with a severely ailing company with no money, no record of sales, an unresolved Class Action suit, SEC investigation, and no proven marketing channel? What does SEVU bring to the table?
Try again Biz. Have you used any wireless networking products? More importantly, since this is supposed to be the SEVU Board, have you used ANY SEVU products? Even ONE?
How can you profess to even have a clue about it if you've never even used one?
"as for security being an issue when the signal only goes 200-300ft duh...you think companies dont care if ANYONE in the building can tap into their network??". PC's have security. SecureView has NONE! The "black box decoders" aren't even encoded. This is a pretty stupid debate though, since no one buys SEVU products anyway.
Imagine the disappointment for all those companies currently using, buying, and/or selling 802.11 products.
Perhaps you could take your expertise and become a consultant. You should start at Microsoft, as they have mysteriously found a way to make it work. Need someplace a little closer to home? Try IBM. I forgot, you like retailers. Costco uses it (they sell it too).
I guess I ask the same questions because I’m still waiting for an informed response. I’m obviously asking the wrong person.
On the subject of “security”, if 802.11 only has a range of 200-300 feet, why is security such a concern? How many intruders do you expect to wander into your 300’ perimeter? BTW, go see if you can figure out how to breech the security of even a simple home network. In the meantime, I’ll try to come up with a way to intercept a SecureView signal. This won’t take long, though. All I need is an electrical outlet! WOW! That was easy!!! Now for the hard part…… finding someone USING a SecureView! And I thought it was hard to find someone SELLING them! How about you Biz. Do you own a SecureView? How many SEVU products do you own? Wouldn’t it help if you investigated these products you love so much?
Maybe if you buy one today you can double their sales for the month!
Last I heard, HSN still had about 18 units in stock.
Yes Biz, I do believe you knew nothing about wireless networking until a week ago, but regardless, what specifically does SecureView offer that 802.11 technology can't?
How do you know PLT works better than wireless? Do you honestly believe that so many companies would offer wireless networking products if they didn't work? Since you didn't know the technology existed until a week ago, it seems pretty obvious you've never used it. Speaking of which, how many SEVU products do you have? Have you even bothered to try one of the products from the company you so blindly endorse?
I've never tried a SecureView in an office building, but I have used it in my house. The B/W image is acceptable for seeing what's going on in good light, but it's certainly nothing you'd want to watch very long. BTW, SecureView is VERY susceptible to interference. I also have a wireless network in my house. The signal strength varies, depending on how far I am from the router, but I have NEVER lost the signal or experienced interference of any kind. Oh yes, and it’s transferring 11 Mbps.
I have also used wireless networking in an office building. Concrete floors, metal studs, microwaves, tons of computers and electronics. Not only does it work seamlessly within one building, but you can even move outside and go to different buildings (and it’s faster than 11 Mbps). Are you REALLY comparing SecureView to that?
Sorry Biz, but just because you may work in a canvas tent, that doesn't mean others do. Go back to your homework and come back if you ever get a clue about that which you post.
Meanwhile, IHub may not have much traffic, but this board does a reasonable job of minimizing the trash and staying on topic. I'm happy to do so. Are you?
I don't think TB saw the #1 offense today, but there's no denying that TB blew the doors of the Raiders. Congrats!! Bucs deserved to win.
Is it baseball season yet?
If Biz is a paid pumper, his employer is getting screwed.
Do you have any idea what you’re talking about? Two days ago you didn’t even realize wireless networking existed, and today you’re an expert!
I have never experienced interference or lack of signal anywhere in my house. Companies and homes use this technology every day with no problems. I wish I could say the same for SecureView. As for the “$20 toy camera”, whether you choose to believe it or not, any $20 PC camera will provide a MUCH better image than SecureView. They’ll also do so in color, which SecureView cannot.
You’re right about the need for a PC to use the wireless technology in this example. Did you include the cost of the TV in your SecureView calculations?
As for the need to utilize an Ethernet cable to extend range, you’re right about that. Fortunately, it’s an option in the case of wireless. How would you extend the range of the SecureView signal? Run an extension cord between buildings? No, that won’t even work, as the signal strength isn’t strong enough to travel that far. With wireless, you could run a single Ethernet cable and connect a 1000 port router, thereby enabling another 1000 wireless users. BTW, those 1000 people are capable of doing so much more than merely watch a B/W image on their display (or are you going to compare the merits of SecureView to a PC next?).
I wish I knew why everything has to be such a battle with you. Why can’t you admit that SEVU isn’t going to save the world? They have a unique product, and there is probably a niche market for it if the company could get of their own way long enough to make it happen, but to pretend that it’s superior to proven technology is simply absurd.
Biz, all you have to do when your required service area exceeds the signal strength is add an Ethernet cable (or T-1, T-3, DSL, Cable, or whatever) and another router or relay. Here’s a clue for you: Microsoft PC’s are not hard wired! MS employees can go to any of their buildings without a wired net connection.
Out of curiosity, what do you do to extend the signal area for SecureView? Isn’t SecureView’s signal limited to that building’s electrical system? We both know the answer to that one.
What happens with SecureView when you want more than one location to be able to view the picture? Buy another $69 decoder? Imagine how much easier (and cheaper) it would be to simply allow designated users to access the data, regardless of where they are. What if the user wants a color picture? A $120 SecureView doesn’t offer it, but a $20 PC camera does.
Since modern day networking was a surprise to you, I’m sure you’ll be surprised to learn that I was at an insurance company recently, and the person I was meeting with had his laptop with him. Not only could he carry it anywhere in his (50+ floor) building, but he could also use it from other facilities, throughout the country (I didn’t ask him about overseas offices). They connect via existing T-1 or T-3 lines, and utilize secure wireless routers within each building. Microsoft has done this for quite a while, but since they’re a cutting edge company and not always representative of most, I thought I’d cite my recent experience with an insurance company.
Face it Biz. SEVU has some novel products with niche market potential if they can ever find a way to get them in front of customers, but you need to accept the fact that they aren’t offering a cutting edge technology.
Yes Biz, we’re describing entire buildings. In fact, it’s not limited to a single building (unlike SecureView). The “size” of the router determines the number of PC’s supported. In the case of the one in my house, I can support four PCs. It doesn’t matter if they’re laptops or desktops. With VERY little effort, a person could even rig up a camera with a USB port and add that to the wireless (or wired) network.
As Gulfbreeze said, this isn’t new. It’s also considerably less expensive than wired networks, for the same reason SecureView once appeared appealing; i.e. no wires to route.
They even sell them at K-Mart, Wal-Mart, and Radio Shack!
You're joking, right? I'm typing this post on a laptop, wirelessly sharing a DSL connection with other PCs and a printer. BTW, this is in my house, not an office. Doing so in an office requires a bigger router (to accomodate more PCs).
Next time you're at Costco looking for products that aren't there, see if you can find any wireless routers (hint: That's a product that Costco actually sells!). You can also try compusa.com, Good Guys, or whatever your favorite PC store/site happens to be. Perhaps it's an office supply store or site. Look up "Wireless Networking".
You said it yourself Biz. You really ARE behind.
Bill is invested in 802.11 technology, as are many others. Why would anyone develop a limited bandwidth video (or data)transmission product that relies upon wires when secure broadband wireless is readily available and affordable?
That's why I believe SEVU missed their greatest window of opportunity with SecureView. It's old news today.
Unfortunately, SEVU’s product is a very small subset of the potential for powerline technology, and SEVU simply doesn’t have the money or expertise necessary to enable them to expand on it. If there is truly any value in their patents, I’d assume that’s the most valuable asset the company has. IMO, they should see if they can find a buyer for the whole technology.
I agree with you Dan. I think that article in indicative of the missed market opportunity SEVU was unable to capture. They had a novel idea a couple years ago, but as time has progressed, superior technologies have caught up. Today, home networking has become commonplace, and consumers can buy wireless networking capability for little more than $100. They obviously need a PC, although that's not rare either.
I won't dispute the presence of a limited niche market for SecureView, but I no longer believe the product offers enough bang for the buck. Too bad. I think Rich had a good idea, but it took too long to bring it to market.
SecureView is no longer available at Costco.com. HSN appears to be selling about 2 or 3 systems per week and hasn't been on the air since the first day (3 months ago?). JC Penney still offers them on their website, but they don't keep any in stock. Instead, they state that the product will ship directly from the manufacturer.
Looks like SEVU has even less activity than this message board!
Too bad. It was fun while it lasted.
Costco shows a picture of the outdoor version, but describes it as indoor. HSN also recently reduced their price to $119. It's obvious these things aren't selling. Personally, I doubt the company will be around long enough to market a color camera. Sad.
I just posted this over on Raging BS, but it seems appropriate here as well:
Um… On July 31, SEVU issued a PR stating that they had entered into an agreement with nationally known loan shark Sun Capital. According to the 7/31 PR issued by SEVU (and still posted on their website), "The initial receivables funding began Monday, and we have concurrently begun the process, with Sun Capital, Inc. and two other firms, of securing purchase order funding. We expect to have purchase order funding in place in the next 30 days. Each of these financial facilities will significantly enhance our cash flow and solidify our ability to meet delivery dates on our growing order backlog."
Was that yet another broken promise made by SEVU, or did they spend it already? If this “growing order backlog” existed and was growing in July, and they have “funding”, why aren’t the sales reflected in the 10Q?
A 28% increase over the same quarter a year ago? We all know they sold virtually nothing a year ago (as evidenced by SEC filings). It wouldn’t take much to improve upon that, particularly when this quarter included their two greatest opportunities to date. Sounds like HSN was a much of a failure as Costco.
Put a fork in ‘em. They’re cooked.
You know Dan, since you are perhaps the most honest and objective person posting here, perhaps you should become the Director/Chairman. Personally, I attribute much of the demise of this forum to the complete incompetence of Shameless. Maybe if it was moderated by someone with a brain, people would use it again.
No doubt about that, although that's no reason not to issue a PR when they have significant news.