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I can hardly wait to learn about the best stock Frank has ever come across.
Bigbizz, your enthusiasm is refreshing, if not entertaining, but I think a reality check may be in order. Just about all company's can claim that they're up from their low. Unless they were among the fairy tale IPOs we enjoyed a couple years ago, most companies are probably above their lowest values. That's not much to be proud of. Have you considered where SEVU is in relation to their high? Okay, so maybe those levels were reached as a result of overly optimistic PRs, but where is SEVU today, compared to their 52 week high? How does that compare to the rest of the market?
Keep in mind, I'm still long and hoping for the best, but let's not fool ourselves.
Cabos, that was perhaps the most accurate statement seen on this board in months. This really does seem more like a gamble than an investment. I'm still in as well.
Good morning Cabos. So, George sent a message to people? I guess I can add that one to my list of lack of communication from the company.
JR didn't say anything. He resolved my issue, but that was it. We didn't talk very long, but he certainly didn't impress me.
I called and spoke with JR a couple weeks ago as well.
I think we're discussing two different issues. I agree with your comments on QVC, Radio Shack, etc., and we all know they have no money. The problem I'm discussing (this time) is the way they respond to their shareholders (or, in my case, fail to respond). I'm not naive enough to expect them to jump whenever a shareholder wants to play Armchair Quarterback, but I do believe they should at least be responsive to administrative inquiries from people who have invested in their company. I have a reasonable number shares (and they know it), but the only time they ever responded to anything I asked was when they wanted my money.
I think I know why they don't respond to me, but it appears as though they treat many shareholders the same way.
I haven't received responses to e-mail either. Maybe if I sell my stock they'll be more responsive.
I sent Bernardich a letter, dated 9/21/01. The contents of the letter aren't relevent here, but I sent it Certified Mail and it was signed for on 9/24. The last line in the letter reads "I would appreciate your written response to this matter".
That was two months ago. In my book, that's very negative and inexcuseable.
BTW, the content of the letter was nothing confrontational or confidential. It was more administative in nature, and SEVU would be at no risk or compromise by responding.
Who would have ever believed Seattle would have quality pitchers to trade?? I would love to see them pick up Damon.
I'm not sure what to expect in the off season. I'd like to see them pick up a left fielder, but beyond that, I don't really expect many changes. I wouldn't be all that surprised if they let Boone go, although I hope they can come to terms and he stays. It's pretty hard to fine tune a club that wins 116 games!
Ping me next season when you plan to be in Seattle for a game. I have good seats and sell lots of them (always at face value).
Did you work for Alaska Marine Hwy, or Wash St Ferries?
Dave
I wish I had discovered this board during the season. Jerome, are you in Seattle? I attend about 70 home games per year. Great ride this season. Too bad they folded against NYY.
Costco Connection
I picked up a copy of the November Costco Connection today. The ad is a $50 mail in rebate on a SecureView purchased via Costco.com.
If you think you can get a ten percent response rate, you must plan on offering free cash along with it.
I guess my point is that I'm not going to become too critical of Shamus unless I'm willing to do the job myself. I have been asked to be a Director or Chair this board on a number of occasions, and I continue to refuse.
I'd rather consider the source and deal with it, instead of beating him up for doing something I'm not willing to do myself.
FWIW, I can relate to his frustration with unanswered correspondence with the company. It's absurd.
I don't disagree with your complaint, but we need to remember that it isn't Matt's responsibility to manage the board if we can't play well together. After FG was fired, Shamus was the only person willing to take on the responsibility. It would be great if we can find someone willing to take over, and hopefully be more objective, but it may be prudent to simply ignore the header if no one else steps to the plate.
Personally, I'd rather see Shamus in the role than FG. Whether we agree with him or not, at least he appears to be honest.
The PP I'm referring to took place almost two years ago, and has been widely reported and discussed. I'm still here because I've made money on this stock and continue to do so. Why are you still here? None of us own enough shares to dictate company direction. As with any stock, we can either buy, hold, or sell. If we believe strongly enough that the company has broken laws, we have the right to file suit or report their actions. Both options have apparantly been done in the case of SEVU, but seemingly to little or no avail. SEVU is a BB stock. If they operated like a real company, they would probably be more successful and trade on a real exchange, but we all know their shortcomings (and they are many!).
Why is this so hard for some people to figure out? Buy, hold, or sell.
In the interim, I hope you have a great Holiday.
If your numbers are correct Bigbizz, the recent PP cost was 40% of the market value when it was agreed upon. That makes my 16% look even better!! Besides, I could sell mine after 12 months, rather than 24!!
SEVU has plenty of problems, but I really don't think the price of the PP is a factor.
So many here continue to be critical of the price and terms of the recent PP, even though it has been suggested that it may have been presented and approved in June when the market price of the stock was in the 30 to 40 cent range (was the timing ever confirmed? I don't recall). Anyway, let's be super conservative and say it was approved when the market price was $ .50. That would mean the participants paid 20% of the market value of the stock (assuming mkt value was as high as fifty cents), and had to hold it for 24 months. If the PP was approved when the mkt value was forty cents, they paid 25%.
I'm sure someone will correct me if I'm wrong, but aren't the shares of the ten cent offering restricted for two years? I don't know if the 24 month requirement is unique to company officers or if this was a condition of the PP (perhaps both). Even if I'm wrong about the 24 month holding period, I'm sure it's not less than twelve months. Also, Corporate Officers are further restricted in terms of how many of their shares they may sell at any given time if they control a significant number of shares.
My point is this: Myself, and a number of others, participated in the Convertible Debenture in January, 2000. I bought mine at the Shareholders Meeting on Saturday, January 22, 2000. Market price had risen through the $3.00 level for the first time ever the previous day (1/21/00). I don't recall the exact closing price on 1/21/00, but our Debenture price per share (fifty cents) was approximately 16% of market value. Furthermore, we only had to hold our shares for 12 months, we could sell them all at any time after the 12 month holding period, PLUS we had the option to exchange our shares for principal plus 8% interest if the market price tanked!
I hadn't discovered these boards at that time, so I don't know what kind of debates may have taken place back then, but would someone please enlighten me about how everyone reacted to such a sweet deal? It seems to me that I received a better deal than George or others participating in the current PP.
This is pretty wild! A debate between Shamus and FG. Neither of them send me Christmas cards, nor do they receive them from me, but I've got to side with Shamus on this one even though I pretty much agree with FG's position in this instance.
If this were a horse race and I was betting on either Shamus or FG, my money would always be on Shamus. He may not be the fastest horse, but at least he isn't likely to turn around in the middle of the race and run back toward the starting gate.
Shamus may or may not finish first, but at least he's likely to finish the race.
I'll bet a thousand shares on Shamus to show.
SeaView: 3 Quarters Of Consecutive Profit Improvement
BUSINESS WIRE - November 13, 2001 20:36
ST. PETERSBURG, Fla., Nov 13, 2001 (BUSINESS WIRE) -- SeaView Video Technology, Inc. (OTCBB:SEVU) today posted 3rd quarter financial results for the period ended September 30, 2001. Although a slowing economy and reduced consumer confidence had an adverse effect on sales, cost reductions and operating efficiencies helped to push net income figures ahead of last year, and the Company showed profit improvement for the third consecutive quarter. While sales slipped to $184,745 [from $212,592] for the quarter, and to $891,216 [from $968,780] for the year to date, operating expenses dropped nearly 50 percent to $602,768 [from $1,223,576] for the quarter and $1,459,575 [from $3,369,566] for the nine-month period. Net income rose by $322,777 in a 49% improvement.
Less advertising expenditure, and the company's shift of primary focus to the retail sector for sales growth, contributed to these results. Slowing economic conditions, exacerbated by recent world events, caused retailers to slacken or delay ordering products. "We felt the effects along with everybody else," remarked SeaView CEO George Bernardich III. "However, we continue to build out the commercial sales sector, primarily with the SecureView Parking Lot Surveillance System, while the retail sector is turning around."
The Company's team of independent manufacturers sales representatives continues to work with major retailers, mall management companies, fast food restaurants and Fortune 500 companies. These efforts have resulted in beta-testing programs involving several significant customers. The beta site installations are projected for completion in the first half of 2002, based on those customers' capital appropriations timelines.
Quoting from the quarterly filing, "The Company continues the process of positioning the Company for anticipated sales and profit growth. The main efforts focus on the basics of business with emphasis on two key components: building the product; and selling the product. In addition, the company is reviewing capital financing options to fund increased company operations, production, advertising and marketing."
Advertising in USA Today will feature SeaView and SecureView new-product pricing this week. The regionally-tailored campaign through the holidays will be seen by up to 1,000,000 readers in the selected markets. The ads will also feature special purchase incentives. "Based on our initial response from the Costco Connections B-2-B direct mailer, we should see a significant sales increase," said COO Michael Ambler. "And since this is a direct sales effort, margins will be above average." The company's suppliers are in position to increase production as needed to meet demands from the two ad campaigns.
ABOUT SEAVIEW VIDEO TECHNOLOGY INC.
SeaView Video Technology, Inc. is the largest manufacturer of Infrared Underwater Camera Systems. The SeaView Marine Division has over 12,000 systems in service with fishermen, divers, the US Coast Guard, US Customs, environmental scientists, and police and fire department dive rescue teams.
SecureView, the Company's innovative "camera in a light bulb," incorporates proprietary IRFS (tm) technology to transmit live video through the electrical wiring of any home, office, or building. SecureView eliminates expensive installation costs, drilling and cables. SecureView DC (tm) uses the same principles to transmit live video through the electrical systems of vehicles, trucks, buses, ships, and railway rolling stock. A version of IRFS capable of LAN/WAN data transmission over power lines has also been introduced.
The Company's marine and security products are GSA listed. Its technology is covered under 14 patents granted and two patents pending. SeaView trades under the OTC BB symbol SEVU.
website: http://www.sevu.com email: general@seaview.com
THIS PRESS RELEASE contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, which are intended to be covered by the safe harbors created thereby. Investors are cautioned that all forward-looking statements involve risks and uncertainties, including, without limitation, the ability of SeaView Video Technology Inc. to accomplish its stated plan of business. Although SeaView Video Technology Inc. believes that the assumptions underlying the forward-looking statements contained herein are reasonable, any of the assumptions could be inaccurate, and, therefore, there can be no assurance that the forward-looking statements included in this press release will prove to be accurate. In light of the significant uncertainties inherent in the forward-looking statements included herein, the inclusion of such information should not be regarded as a representation by SeaView Video Technology Inc. or any other person that the objectives and plans of SeaView Video Technology Inc. will be achieved.
editors: for more information, contact J R Cox at 727-866-3660 email: general@seaview.com
CONTACT: SeaView Video Technology, Inc., St. Petersburg J R Cox, 727/866-3660 email: general@seaview.com
Don't hold your breath Shamus. I have probably contacted the company 6 or 8 times during the past two years. I have written letters (sent via Certified Mail), e-mail, and phone calls. To this day, I have received two responses. The first was from RLM Assoc when I asked about the ads for BBQ sauce in the middle of the Investors Kit. That reply came via e-mail, just a few minutes after I asked. The other response was a phone call from Rich. He was responding to a letter I had written six months prior to his reply.
On a more positive note, Archie Cook was always very responsive re: sales issues. I'm all for customer service, but I find it disappointing to receive better responsiveness when buying a $300 camera than after investing tens of thousands of dollars in the company's stock.
MH, my point isn't whether anyone reads these boards, although I'm not convinced current mgmt cares nearly as much as Rich did. My point is that they don't make decisions based on what is posted here. Also, I didn't say the difference between 15M and 60M shares is insignificant. I said (or meant to say) that the sum total of shares represented by all of us who post here is insignificant. Let's say there are 45M shares in existence. 1% would be 450K. I sincerely doubt that all who post here have a combined total of 450K shares, and even if we did, it would only represent one percent of the total.
I realize that the people who invest in BB stocks aren't representative of most investors, but do you really think many people are stupid enough to watch these boards for more than a couple of days and consider the info presented to be credible? People offer some great insights and experiences, but if a person sticks around long enough to sift through the obvious misrepresentations and junk, they will most certainly realize that the boards are filled with numerous conflicting views (often represented as "facts").
SEVU appears to be trying to clean up their act and trying to act like a real company. The countless PRs filed with empty promises are gone, as are the message board posts from known insiders. It's quite possible that company financials will be disclosed solely by means of SEC Filings. If shareholders don't like it, but the company is in compliance with the SEC Regulations, than the shareholders should probably move on. Personally, I don't know if the company is operating within the rules of the SEC or not, although the fact that they are still trading and we haven't heard any formal notification to the contrary leads me to believe that the company just may know more than we do.
"George apparently did not see fit to correct the inaccurate post by Shamus on the heading of the message board regarding the number of issued shares."
C'mon MH, do you really think George cares about what is posted here?
Maybe it's time for a reality check. Whether there are 15M or 60M shares floating around, the sum total belonging to everyone who ever reads these boards (much less believes what they read) is completely insignificant. People who believe otherwise are either extremely naive or simply not very bright. We know there have been exceptions in the past, as Rich used to read and post, and it's quite possible that George and/or other insiders may read this junk on occasion, but do you honestly believe they take any investment or business related action based on anything they read here?
Personally, I hope George has more important things to do with his time than read what Shamus places as a header or what any of us post, but I'd bet my shares it's not very important to him.
An interesting utility under Windows XP.
I haven't tried this yet, but there is a download available on the public Microsoft Windows website (www.microsoft.com). It's called "Powertoys". Here's the description of one of the tools:
Webcam Timershot
This PowerToy lets you take pictures at specified time intervals from a Webcam connected to your computer and save them to a location that you designate.
I assume it's probably a simple utility to switches to a specified URL with a webcam, although it may be possible to redirect to a SecureView.
It would be pretty cool if this is the case and the utility becomes a standard part of Windows.
If those numbers are accurate, will we be able to verify with the next SEC Filing, or will it all roll up to the 60M number? It seems as though if the numbers are accurate and reflected in the 10Q, it should confirm that the number of outstanding shares is still pretty much consistent with expectations AND that only a portion of the ten cent PP shares have been issued. It seems as though that would not only not be bad news, but actually relatively good news since most of us have accepted that the full ten cent PP may be priced in already.
Remember folks, I'm better qualified as a business analyst than a stock analyst, so consider the source with my question, but is there any merit to it?
Frank, some of us half-wits are confused by your statement. If we had known that investing in this company entitled us to free merchandise, maybe we'd invest more money. That would certainly be good for your investment as well. Would you be so kind as to post a link to the document that states that we can each have a free SecureView if we invest $200K? That would also go a long way toward substantiating many of your claims about Rich, as he would have no justification for repeatedly asking you to return it.
Here's your chance to regain some credibility Frank. Please post a link to the document.
Thank you
Because Unified MARINE may be a more likely channel for marine products?
At risk of pointing out the obvious, I hope skeptics are noticing how many historic claims are coming to fruition. The B&W/Color camera that received so much discussion on the boards as being a technical impossibility; the increasing number of reputable vendors, etc.
I'm not foolish enough to assume that all is well, and there are certainly a number of unanswered questions re: sales, internal stock transactions, etc., but at the same time, the company does appear to be delivering on much of what they promised.
I hope you're right Bigbizz. Remember, though, Costco Connection is a catalog. I don't know if orders are drop shipped from SEVU (or their fulfillment vendor) or if Costco has taken delivery. I would sort of assume Costco has taken delivery, but we don't know that (do we?).
My point is that finding their way onto retail store shelves is a completely different animal. Costco calculates revenue in part on a dollars per square foot basis. It costs them as much to set up an administrative account (supplier relationship) for SeaView as it does for a company like Sony or Black & Decker. If SEVU plans to sell directly to companies like Costco (i.e. no consolidating distributor), they are going to have to ensure great margins for Costco to make it worth their while. Next time you visit a Costco, check out how few "small name" companies they carry. Of those they do carry, consider how many of them sell direct and how many may utilize a mfg rep or disti of some form.
Please don't get me wrong. I don't want to downplay the value of a company such as Costco as a sales channel. They obviously see potential, or they wouldn't feature SecureView in their B2B mailer. I'm just suggesting that it's quite a leap from Direct Mail to store shelves.
With all due respect Bigbizz, I strongly believe Sea View is a mom and pop operation. They have a novel product with lots of potential, but they have a long way to go to prove that they can deliver on the scale required if they want to make it at Costco. I'm not saying they can't get there, but I sincerely doubt they're even close today.
It's interesting you mention Bill Gates. Costco was perhaps the most difficult distribution partner for at least one of Microsoft's product lines.
I realize none of us have ever been guilty of speculation on this board, so let me be the first. Most people here know much more than I do about stock analysis, SEC laws, filing and reporting, but I have a hunch my professional background with respect to mfg and operations exceeds that of most. That being said, one may draw some encouraging signs from today's PR. The article announced new distribution partners, reduced pricing, a new product, and either new or improved material sourcing and production. None of this happens without funding. On the sales side, the incremental costs are potentially minimal, as the sales staff gets paid whether they sell products or not. Even if they're on commission, they don't cost the company anything extra unless they're making sales. The "sourcing and production improvements", on the other hand, may cost the company a great deal. In this case, volume most likely dictates cost. If the company perceives or realizes significant sales volume, they would need money to pay for materials and potentially a more sophisticated production vendor. They won't get paid until they can deliver products, and they can't deliver without building them. Ordering larger volumes of parts will reduce material costs.
I don't know how or where they got the money to pay for all this, and I'm as concerned about dilution as anyone, but if there's a bright side to it, I guess we can hope that whatever money the company spends today is being used to produce products, rather than merely develop them.
On a side note, I'm somewhat surprised we haven't heard of any test marketing of SecureView on retail shelves, although if they aren't producing large enough volumes to meet potential demand if it sells, I guess there's not much point in it. Besides, they seem to be focusing on the really big players. If they're hoping to eventually sell via storefronts on a large scale, I hope they have refined material sourcing, production, and distribution to a point which is much better than today.
I concur with Dan on that one. I would never post the type of messages here that I will post over there, but I think everyone knows that RB hasn't been a valid SEVU board since FG initiated this one.
Ironically, RB offers some valuable insight to the integrity of certain posters, though.
It's nice to have IHub back. Thanks Matt!!
If you're referring to the article posted by Shamus, why would that cause you to question SEVU? The article doesn't claim that Supercircuits or Klindworth developed the products; just that they are a dealer. Supercircuits was one of the first dealers for SecureView. I doubt they'd be prominently displayed by either company if there was a conflict.
Am I mis-understanding your question?
Test
Is it really dead?
No!
I don't know if anyone cares, but I posted the following over on RB. Since Frank has decided to fabricate archived PMs, I thought I'd explain my background before he does. Consider the source, but I have a hunch my version is more accurate.
I hope everyone is having a good week-end!
In interest of full disclosure, I'll offer a summary of my relationship and experience with SEVU.
I discovered the company in about October, 1999, after reading a small camera ad in a boating magazine. I ordered a camera, and it took about three months for it to arrive. In the interim, I researched the company and bought stock. This is my first BB stock, but at .60/share, I didn't see much risk. When my camera finally arrived, I was (still am) very impressed with it. The company was looking for dealers, and there were none in the Pacific NW at the time. We have a ton of boats in the Seattle area, and tremendous market potential. My concern with becoming a dealer was that it took me three months to receive my camera, and I didn't want to become a dealer, only to learn that SEVU may not be able to deliver in a timely manner. Coincidentally, the Shareholders Meeting was announced for late January, 2000, so I decided to check them out in person.
I met Rich for the first time at the SH Meeting, and he agreed to meet with me the following Monday. Those of you who have met or spoken with Rich won't be surprised to learn that he did most of the talking. He was obviously passionate about the products and technology. I found him to be very pleasant and personable. It was also clear to me that he didn't understand the operational requirements necessary to deliver on his vision. We did not discuss employment at any time, although I sent him a letter a few weeks later, offering short term consulting services if he was interested. He never responded, nor did anyone else. In retrospect, we now know that they weren't nearing production at that time.
By September 2000, it was painfully obvious to all of us that the company needed operational guidance. I expressed to Bulldop via PM that I was considering offering a week of my time at no charge if SEVU would pay my expenses (for those who may not remember, Bulldop was the Director on IHub at the time). My motivation was that if I could make a difference, I would be enhancing my investment. It would also give me visibility to what was really going on within the walls of SEVU, which would also be valuable when considering my investment. Bulldop forwarded my PM to Frank (with my permission), and Frank asked me to approach McBride. I told him I hadn't made up my mind about the offer, and that I was in somewhat of an awkward position. I didn't want to be perceived as just another Consultant, looking for a gig. I'm a shareholder, interested in protecting my investment and I'm confident my background would be very helpful. Frank asked if he could raise the issue with McBride, and I agreed. BTW, I have never spoken with anyone about any of this, so I have everything in writing.
I am retired, following fourteen years with Microsoft. My roles during that time were varied, although most of them focused on operations, vendor management, and legal activities. I resigned in 1998. Prior to joining MS, I worked for a sub-contractor where I was in charge of all product manufacturing for Microsoft. I don't think I'm overselling myself by saying that I could add value to SEVU.
I have spoken with Rich once since we met in January 2000. He called me a few months ago, and we discussed a few issues, although consulting or employment was not among them. For what it's worth, I am very happy in Seattle, and would never consider moving to Florida.
As I have said before, I have nothing to hide.
Where would SEVU be without you to tell them how to run the company?
I think he has told us what he knows. That's why we're still looking for facts.
BTW, I hope all is going as well as can be expected for you and yours. I'm sure this is a very difficult week for everyone.
Do you know that because of your close personal relationship with SEVU mgmt, or can you substantiate your claims with something else? If not, I'd say another TOS is in order.
>>>> YOU'RE JOKING, RIGHT?
I guess I missed that one Frank. Like so many others, I tend to ignore your posts where you support your claims with more of your own claims. If I read that stuff, I usually look at the first line or two and decide whether I care to proceed. In the post you just referenced, I figure since SEVU doesn't sell houses, it probably has about as much to do with company business as you have to do with valid lawsuits.