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Round and Round we go...
I think FG will agree, when a little research is done, this "soap opera" called SEVU is not nearly as bad as some people here make it out to be. On the other hand, it is not a pretty as bigbizz portrays either.
This board seems to bring out hot or cold people, no luke-warm/sensible people. BTW, where are the "regular" bashers and longs? Maybe people don't know that the "JEDI KNIGHT" is back!!!
JMHO, TAfirehawk
WHAT IS UP WITH TODAY'S STOCK PRICE?!?!?!?!?!
I guess some MM thinks the 10Q is surprisingly bad.
Somebody with Level II will have to fill us in at the end of the day.
JMHO, TAfirehawk
Wrong, Wrong and Wrong, Bill.
Please stop with these ludicrous claims that scare people. At one time you were a person of some credibility, but in the past couple months have lost that, IMO. If Ken said something like this, I wouldn't even waste the 10 calories of energy to respond.
First, the 10K is fact as of December 31, 2000. Get your facts straight before blowing your horn in alarm.
Second, the current 10Q actually explains where the new shares in 2001 were distributed.
For the sake of all of us, PLEASE stop judging the book by its cover, GET THE FACTS MAN.
JMHO, TAfirehawk
I beg to differ. Rich definitely purchased shares before May 1, 2001.
JMHO, TAfirehawk
I also looked closely at the legal notes and was NOT surprised to see nothing of the SEC investigation. I am not convinced that the SEC "was going after SEVU". There was an obvious investigation that involved some people and the company, but do we know the intent of the investigation? If things were as bad as Anthony and Ken say, wouldn't SEVU be de-listed by now. Wouldn't the SEC be shouting its praises of defeating another scam?
JMHO, TAfirehawk
I was trying to give a quick synopsis of the 10Q, at least what was relevant to past and current issues.
I am not surprised by any numbers at all. Q2 should show small improvements and Q3 will tell the tale if this company will ever make the big time.
Patience is a virtue.
JMHO, TAfirehawk
Ahh, this production news sounds good.
http://www.freeedgar.com/search/ViewFilings.asp?CIK=894536&Directory=1108017&Year=01&SEC...
Production
We continued to manufacture and ship our SeaView marine products in a timely manner. Projections and procurement arrangements have been made with our contract manufacturers and parts suppliers to expand as necessary, to meet anticipated demand from orders which our manufacturer's sales representatives are currently negotiating with key retailers.
Final engineering and design modifications were completed, and parts were procured for high volume production of our SecureView products. An additional contractor was brought online to ramp up sub-assembly production, to further facilitate a steady flow to final assembly, and accelerate shipping of complete SecureView systems in the 2nd quarter.
JMHO, TAfirehawk
All convertible debentures are done now.
http://www.freeedgar.com/search/ViewFilings.asp?CIK=894536&Directory=1108017&Year=01&SEC...
8. CONVERTIBLE DEBENTURES
During the year ended December 31, 2000, the Company issued 8% convertible debentures for proceeds of $ 3,288,000. The debentures were for a term of twelve months and were non-interest bearing for an initial period, after which, interest was payable quarterly. No interest was paid on the debentures. The debentures were convertible by the option of the holders into shares of the Company's restricted common stock on the basis of $.50 to $8.00 per share. Proceeds from the issuance were used to fund operations of the Company. During the year ended December 31, 2000, the Company exchanged $3,188,000 of the notes for 5,373,584 shares of the Company's common stock. Debentures of $100,000 remained outstanding at December 31, 2000. Outstanding debentures were converted into 260,050 shares of restricted common stock of the Company during the quarter ended March 31, 2001.
JMHO, TAfirehawk
Anybody know about all this stock moving around? Sounds like a lawyer wrote this!!
http://www.freeedgar.com/search/ViewFilings.asp?CIK=894536&Directory=1108017&Year=01&SEC...
6. STOCK ISSUANCE
During the first quarter 2001, the Company issued 25,000 shares of restricted common stock to employees under an employee bonus arrangement. Compensation expense of $21,051 was recognized in connection with the issuance.
Under an employment agreement effective February 01, 2001, 100,000 shares of restricted common stock with a value of $83,125 were issued to a key employee. Upon issuance of stock under the plan, unearned compensation equivalent to the market value of the stock at the date of grant is charged to stockholders' equity and subsequently amortized over the period of the agreement, two years. Amortization expense of $6,927 was recognized during the quarter ended March 31, 2001.
During the year ended December 31, 2000, the Company issued 397,600 shares of common stock with a fair value of $271,255 as payment for services based on the fair value of the services provided during 2000. Additional professional fees of $36,581 were recognized during the quarter ended March 31,2001 for services provided during this period related to these shares. The remaining unearned compensation associated with these services is $89,504 at March 31, 2001.
JMHO, TAfirehawk
Does this put the Springs issue to bed finally? I hope so.
http://www.freeedgar.com/search/ViewFilings.asp?CIK=894536&Directory=1108017&Year=01&SEC...
4. INVESTMENTS
The investment security of $755,735 at March 31, 2001, represents a 21.23% ownership of capital in Golden Springs LLC, a state of Florida limited liability company. In consideration for its equity position in Golden Springs, LLC, the Company conveyed 150,000 shares of its common stock to Golden Springs, LLC subject to restrictions under Rule 144 of the Securities and Exchange Act of 1933, as amended. The resolution approved by the board of directors to issue shares dictated that the shares be replaced by the President and C.E.O. These shares were contributed in 2001. The investment is accounted for under the equity method. The value of the investment was reduced by $134,183 during the quarter ended March 31, 2001 to reflect the Company's share of Golden Spring's loss for the respective period.
JMHO, TAfirehawk
What exactly is this? I thought all loans were repaid last year.
http://www.freeedgar.com/search/ViewFilings.asp?CIK=894536&Directory=1108017&Year=01&SEC...
3. NOTE RECEIVABLE
During the year ended December 31, 2000, the Company accepted several non-interest bearing notes from an officer, with a balance of $317,757 at March 31, 2001. The notes are collateralized by 6.5 million shares of company stock. Proceeds from the repayment are being drawn down on a continued basis to fund operations. The loan was repaid in April 2001.
Anybody?
JMHO, TAfirehawk
The back orders are over 6 months old as they were around at the Open House. FG can probably find a link to some old info on this, but they may be approaching a year old. I believe that SecureView orders were being taken about this time last year, or at least last summer.
So, YES, these are very old and some may not want their orders now. What does everybody think about some people not wanting their backorders?
JMHO, TAfirehawk
I think your "gut feeling" serves you well, Young Jedi. I also feel the same FORCE and believe it to be true.
May the FORCE be with you.
JMHO, TAfirehawk
I disagree about the MM problem. I am continueing my communications with the NASD to help the address the current/past situation. SEVU needs all the monkeys off their backs they can get right now and I am willing to commit resources to this.
Everything is looking real good for the future, but lets help put the past "away".
I noticed very low volume today, wonder what the Level II says?
JMHO, TAfirehawk
I concur on the PP being done or almost done. They were working on it while I was at the office or at least discussing it. This is obviously not readily verifiable like it should be on this flagship thread , but with enough people hearing enough things, we can believe it to be more true than false.
BUT, we still need some concrete verification on this and filings showing that those two are buying more shares. In my heart I know this all to be true, but SEVU has lost all "word of mouth" reputation over the last year.
JMHO, TAfirehawk
I don't fully agree Ken.
Gee Firehawk,
SEC investigation THIS YEAR We knew about this quite awhile ago, December/January.
10Q lies revealed THIS YEAR This one is getting old, we ALL knew that SecureView wasn't shipping until 2001 and that all the earnings projections were based on SecureView.
Rich Stepped down THIS YEAR Ok, you got me there.
Stock at a solid 65 cents THIS YEAR What does this have to do with your keen knowledge of SEVU?????
Jennifer suing Christy THIS YEAR Where did you hear something like this? This is new to me and I know both of them.
WLDI suing Rich THIS YEAR Somebody help me out on this one, but I thought this was last years news too.
Dr Fred Leslie resigned from the board THIS YEAR Hmm, I haven't confirmed this one yet...
McBride exposed as a conman on probation for felony Fraud THIS YEAR Really, well for one the felony fraud is not EXACTLY the court record and this news is REALLY old, way last year here.
No mass production yet THIS YEAR They are finally shipping SecureView, what in the world do you want?
No major retailers yet THIS YEAR Depends what is called major. The GSA numbers are in THIS YEAR. The two companies mentioned in the PR are not small. I really think the major chains like Home Depot are on the back burner. This product is first being marketed to the government and commercial, not residential.
No PP THIS YEAR Well we don't have confirmation of the $1.5 million investment, but we do know they have bought open market shares.
No Proxy statement THIS YEAR Please read the facts on this one Ken, it is covered in the amended 10K
No money for advertising THIS YEAR Why in the world would we want them to spend more on advertising when there are $9 million in back orders. Yes, advertising is needed, but lets not get carried away either.
Many things have happened THIS YEAR.........
Many have not..........
You have a short past.
JMHO, TAfirehawk
Actually I feel much better now Ken, thanks for the stress relief. Then again, no thanks, your were the reason for the stress.
What the investigation bears out will be very interesting indeed. I really hope you will not be disappointed when you are NOT vindicated. But, you will probably be crushed as this appears to be your entire life right here on IHUB bringing up the past bashing from over 6 months ago. Come on Ken, has anything you have talked about been from the year 2001???? Stop living in the past!!!
I find it hard to believe that EVERYTHING you and Anthony said is accurate and true. Now that FG is back, I am sure he can site reams of messages that are speaking lies from both of you. Although some things can not be verified either way YET.
As TAfirehawk says, "Better to listen than open mouth and insert foot." Everybody on both sides of this soap opera should be careful as the courts have not gotten involved YET.
JMHO, TAfirehawk
Glad you are back, has Yoda finished your training?
Careful with the Star Wars comments, I am a HUGE FANATIC.
Anyway, welcome back, glad the right thing was done. And besides, I could never get registered on SI to post there.
JMHO, TAfirehawk
MAN THIS JUST BURN ME....
THE OUTRIGHT STATEMENTS OF "FACT" THAT YOU PORTRAY KEN DISGUSTS ME.
Can you hear the grinding of my teeth or see the smoke coming out my ears?
a man seemingly devoid of any Moral values
So why did you go work there? Or maybe we should talk about YOUR MORAL VALUES ? Or maybe we should talk about your alleged run-ins with the law and illegal activities? huh, what was that you mumbled?
Give it a rest Ken, we ALL KNOW THIS STUFF ALREADY and we are still here supporting the company. And I for one will continue to support Rich also.
I better stop here before this post gets removed or I pop a blood vessel.
JMHO, TAfirehawk
WOW, Ken, SEVU sure paints a different picture of you leaving.
But I suppose there are always two sides of a story.
I am wondering if I should direct my research towards the St. Pete area police for some "new" stories? Well, all in due time.
JMHO, TAfirehawk
You da man Honorable Poster, good one.EOM
JMHO, TAfirehawk
This is strange, who do we believe? Ken or Rich?
I know Rich has not delivered in the time frame he promised, but it is still happening, just later. But what facts has Ken produced or what fabrications has Ken produced? I think we can all make up our minds on this one.
The burden of proof is on you, Ken. Alleged testimony is NOT accepted in a forum as this, facts must be verified. I, for one, will believe Rich way before you, until you supply PROOF.
JMHO, TAfirehawk
Amen, printmail01, hope Rich sees this.EOM
JMHO, TAfirehawk
Thanks for the insight KEN, I am sure Rich wants to DUMP all his stock and kill HIS baby, SEVU. You must be right, all Rich ever wanted to do was DUMP 6.5 million shares for about $.65/share.
Thank you Ken, everything is so clear now.
JMHO, TAfirehawk
Thanks for clearing this up, again and again.
Seems like some people only read what they want. And live in the past. I am not even sure it is worth posting anymore here.
JMHO, TAfirehawk
911 EMERGENCY - TIME TO LEAVE THE KEN AND BOB THREAD.
This may be spam, but the proxy question has already been answered three times, here are the links...
http://www.investorshub.com/beta/read_msg.asp?message_id=95890
http://www.investorshub.com/beta/read_msg.asp?message_id=95804
http://www.investorshub.com/beta/read_msg.asp?message_id=95093
JMHO, TAfirehawk
I was also tired of FG and Bob wasting my time reading posts here.
Nobody should be banned here, even Ken, as long as the TOS holds firm. Sometimes a posters background is reflected in the hiding/keeping of a post, and that is a shame, but hey, the world isn't perfect.
We are all free to post wherever we want, but don't be surprised when a lot of people stop posting here.
JMHO, TAfirehawk
Well, Ken, YOU definitely could not convince me of your viewpoint at all. I am also sure you would never listen to my viewpoint either.
So good ridence.
JMHO, TAfirehawk
Already too late.
Matt sold out to Bob, so Bob owns at least part of IHUB.
I bet this gets more ugly the rest of this week.
JMHO, TAfirehawk
Notice Ken's previous posts, they are just him talking to himself. Boy, this thread is GREAT.
JMHO, TAfirehawk
Yup, FG gone for now, amazing how many other people are chiming in about them leaving too. What does this tell you?
I will only be here a few more days and hopefully I can get that darn SI account problem figured out.
Sure is nice of you and Ken to provide me a platform to VENT after a long day at work away from home. thanks guys/gals/its/nothings.
JMHO, TAfirehawk
THIS IS THE BEGINNING OF THE END.
Let it be known that one of the biggest critics and supporters of SEVU has been removed from all of IHUB by Admin BOB.
dk76 put it well and we should all stop wasting our time here and move on over to SI. http://www.siliconinvestor.com/stocktalk/subject.gsp?subjectid=51134
Here is the message from IHUB BOB to FG:
Francois,
Effective immediately, your account on Investors Hub is terminated. The
reasons for this action are:
1. Continued abuse of the CoB feature.
2. Continued personal attacks on me despite my very clear warnings against it.
3. The almost exclusively destructive nature of your participation since
reinstatement from your previous suspension.
4. Overall conduct very unbefitting a Chairperson on the site, including
personal attacks on me and others.
5. Continuing the "Bash Bob" theme on the Q&A thread despite very clear
warnings to everyone in general and you specifically.
6. Continued harassment of me personally.
My decision on this matter is final, and I will not be giving you another
"last chance" to change the nature of your participation.
Regards,
Bob Zumbrunnen
Operations Manager, Investors Hub
JMHO, TAfirehawk
I agree.
I am staying around trying to get FG back though, but will be leaving soon enough.
And SI won't let me register running the Internet Explorer 6.0 Beta, so I can't post over there.
JMHO, TAfirehawk
This shows what the company said...
http://www.investorshub.com/beta/read_msg.asp?message_id=95093
http://www.seaview.com/050101.htm
Another poster on this thread said they were mailed.
JMHO, TAfirehawk
Stupid question...what is a Form T?
They seem to be after 4 pm, just curious.
JMHO, TAfirehawk
PS I wish FG was still around to be able to answer this.
:(
Brettin can probably explain this or give some idea of this craziness. BUT, FG will NOT be helping us anymore. Admin BOB kicked him off of IHUB entirely.
We should all complain to Matt, matt@investorshub.com, about this.
JMHO, TAfirehawk
www.sevu.com WOW, THAT IS GREAT!!!!!
Look at all those SecureViews!!!!
Great addition to the website, too bad my modem is only 28.8K from the hotel room, but still loaded decent.
The rest of the pics are great too. I recognize everything but the bottom row of pics, except ALL those wonderful SecureViews on the table.
JMHO, TAfirehawk
PS Sure miss FG!!!
Very true schoffer, AMAZING how some people on this board only give half the story(negative side) on comparing SecureView to XYZ.
I appreciate the information these "other" people discover, just not the way they tell one side of it.
Yes, I am a long and positive on SEVU, but as most longs here, we speak on both sides of the issues, not just the negative side.
Thanks again schoffer, there is still no product that compares to SecureView(once it ships).
JMHO, TAfirehawk
printmail01, I don't believe you are being realistic here, looking for SecureView on all these websites.
We have been hearing of these places for almost 12 months. Now that the new management mentioned them, you expect them ALL to have SecureView in two weeks time, geesh!!!
And on top of that, SecureView isn't even shipping product in any quantities that these companies would want to say they were selling anyway.
These would be good questions in about 4 months, but not right now. But, this does give you something to bash at I guess.
JMHO, TAfirehawk