Rich - WHAT ABOUT THE SHAREHOLDERS!!!????

"Rich McBride
A very, very, happy guy" - quote Milucky "nevermore"

RLM a Sociopath? I for one see no other reasonable explanation.

Paulmk your post perfectly demonstrates the core unsupported wishfull thinking on the part of SEVU bulls.

The fact is many competitors (Sony, Panasonic, x10 for example)could at any time market a competing powerline-video security camera.

The technology is readily available for license or purchase from multiple companies including:

http://www.powerlinenetworks.com/msie/magiclink.html
http://home.earthlink.net/~videocom/products.htm

Moron - I agree. Costco is the tell. If SecureView were to disappear from Costco's site that would likely be the death knell for SEVU.

Note that Costco offers to accept Costco.com returns at any of their stores.

http://www.costco.com/frameset.asp?trg=CustService%2Fcustsvc%2Easp&log=Timeou

I doubt Costco will put up with a high percentage of returned SecureView merchandise.

IMHO--+

The latest generation of 2.4 GHz wireless transmitter-receivers are very small, low cost, and can transmit quality video up to 700-foot penetrating walls and floors like magic. These systems are great for wireless security/surveillance, childcare monitoring, robotics/toyvision, home video and much more. This according to SecureView retailer SuperCicuits.com.

http://www.supercircuits.com/start_wireless.html

And contrary to RLMs unsubstantiated, inaccurate, and misleading bashing of competing products:

"The wireless babycam unit would not work, the 2.4 Ghz
transmit through the air systems perform poorly. We have
one, on a good day you can go from one room to the next.
But, remember to leave the door open." - RLM

Typical SEVU, promise picture quality like this:

http://www.sevu.com/q_a.htm

(from the SEVU corporate website)

but deliver this:

http://www.smarthome.com/images/7528_vid.jpg

from SmartHome.com "actual 640x480 un-retouched image captured from the camera"

IMHO-+-

SecureView unretouched image sample from SmartHome.com site

http://www.smarthome.com/images/7528_vid.jpg

I have to say this sample is most unimpressive and possibly explains why SEVU has never had a SecureView webcam on their own website.

IMH0+++

DocJ - X10 product is not the point (though X10s general execution of internet marketing is superb and something SEVU should aspire to).

http://www.x10.com/

My point is that inexpensive security camera products are now readily available (from multiple sources & vendors) at prices that are a fraction of SecureViews price.

http://shop.store.yahoo.com/fedderhead/remacsecsysw.html

For example this Remington System (sold also in Sam's Club for under $100) includes two low-lux infared cams with audio and a bw monitor. Cable is included. Even if you paid somebody to run the cable your total cost would still be far below the SecureView price point.

Apparently SEVU now intends to focus on marketing SecureView to commercial and government buyers. It is not hard to see why.

Investors still hoping for large unit sales of SecureView product to individual consumers will be sorely disappointed.

IMhO+++

Rich - Does SEVU plan to take any patent infingement measures against Power Line Networks and their new Magic*Link PLA product?

http://www.powerlinenetworks.com/msie/magiclink.html

Looks like this product could have a negative impact on SEVUs growth plans.

IMHO++

What is the deal with SeaViewer.com?

http://www.seaviewer.com/

SeaViewer seems to sell the same cams as SEVU. Does SEVU or RLM receive a license fee from Seaviewer? This is very strange and not addressed in any SEVU SEC filings.

IMHO++

West Marine dropping SEVU is bad news indeed. It also calls into question this boast from the last PR:

"SeaView Video Technology, Inc. is the largest manufacturer of Infrared Underwater Camera Systems." -SEVU PR

I would not be surprised if Atlantis actually makes more Cams than SEVU.

http://www.atlantiscamera.com/index.html

In successive SEC filings SEVU appeared to lower the conversion price on the 2000 PP debentures (causing increased dilution to other shareholders). I suspect that SEVU did this to appease PP investors because of potential legal and regulatory problems with the PP.

FG - Did SEVUs 2000 PP offering disclose RLMs felony fraud probation?

I saw in successive SEC filings that SEVU lowered the conversion price on these debentures several times causing increased dilution to other shareholders.

Did SEVU do this because of potential legal and regulatory problems with that PP?

tookin - The Nightwatch Cam has a low .5 lux rating, plus it has audio, and it only costs $49. So I can understand why SEVU is apparently changing their SecureView business model to focus on commercial parking lot installations. SecureView doesn't seem (to me) to be cost competitive for retail sales.

http://www.x10.com/products/x10_sc21a.htm

Now if you are not worried about the lux rating you can get color and audio for only $39 with the Anaconda cam:

http://www.x10.com/products/x10_sc18a.htm

Note both cams come with a single 60 foot cable that contains both video and power.

I just don't see SecureView garnering large retail sales unless SEVU can get the price point down closer to $100.

IMHO+++

Let's talk about the product. SEVU took too long to bring SecureView to market. Powerline Networks new "Magic*Link TV-PLA" looks like some pretty serious competion.

http://www.powerlinenetworks.com/msie/magiclink.html

SecureView to little, too late.

IMHO+++

SecureView product a sitting duck:

"The Magic*Link TV-PLA is a new video multiplying system. This system is all you need to send ANY video signal, such as your VCR, DVD or Video Camera, to all of the electrical outlets in your home for remote viewing. No antennae, no new wires. No RF interference. This easy to use and affordable technology sets a new standard for home entertainment."

http://www.powerlinenetworks.com/msie/magiclink.html

Just another reality check brought to you by UB43.

Oh yeah IMHO+++

Last PR also had these classic SEVU gems:

"SeaView Video Technology, Inc. is the largest manufacturer of Infrared Underwater Camera Systems." - Very hard to believe this unsubstantiated tout.

"The SeaView Marine Division has over 12,000 systems in service.." Not credible. How does SEVU know how many systems are in service?

"A version of IRFS capable of LAN/WAN data transmission over power lines has also been introduced." Oh really? Please provide a link. What does this have to do with SEVU?

"The second-quarter figures also reflected the long-awaited mass production and initial shipments of the Company's SecureView products." -- What a bunch of bs. How about some specifics for a change?

"SeaView CEO George S. Bernardich III and COO Mike Ambler returned last week from a product-sourcing trip to China..the executives solidified plans to source the popular SeaLite and TrakView marine products offshore at a cost savings of 50 to 70 percent. Said Bernardich: ``This will allow us either to increase margins, or lower the wholesale pricing while holding margin and increasing market share.' He indicated the initial deliveries would be timed for this year's holiday-season retailing." --- Why the heck are they going to China? Ever heard of using a manufacturers rep? Its a lot cheaper and more effective. The rest of this is just bunch lot of typical SEVU bs designed to shear sheep who aren't paying attention.


Oh how I hate SEVU PRs. Tip to McBride and Associates things have changed since Q1 2000.

All in IMHO---.

RLM - What is the current unit return rate for SecureView?

Please be specific and clear (unit return rate as a percentage of shipped units not just "excellent or very low"). LOL

gotin - It is how SEVU did the PP that is most alarming. Note my comments regarding the PP as early as the end of May:

http://ragingbull.lycos.com/mboard/boards.cgi?board=SEVU&read=35053

gotin It seems to me more likely that SEVU does not want potential buyers of SecureView or potential investors in SEVU to know about the unit production and return rates.

Once I made a great return by shorting OMGA when I discovered how high the return rates were for their flagship product. And no, I am not short SEVU.

Now if return rates are very low I see every reason SEVU should let "the competitors" know. (though I read once that SecureView had no competitors)

FG Maybe so. But I doubt RLM will ever put a dime of his own money into SEVU.

Now borrowing money from SEVU to buy shares in the PP that does sound like his MO.

IMHO++

Gotin, I want the truth, a little honesty out of SEVU for a change.

I HATE quibling responses and weasel-worded, cryptic PRs.

That is why I am here!

Sounds to me like RLM is not convinced SEVU shares are worth even 10 cents and that he may forgo investing in the PP. How else would you interpret these quotes?

"If I choose to spend my funds elsewhere then the receivable comes off the books, thus no dilution from me." -RLM

http://www.investorshub.com/boards/read_msg.asp?message_id=162949

"I have zero shares at .10 and I'm thinking that over carefully." -RLM

http://www.investorshub.com/boards/read_msg.asp?message_id=163970

"If I do not participate in the PP, then the dilution will be much less." -RLLM

http://www.investorshub.com/boards/read_msg.asp?message_id=164747

"I have not purchased a share at 10¢ (yet). I have the option."

http://www.investorshub.com/boards/read_msg.asp?message_id=164772

"What, where, and when I choose to or not to participate in
the PP will be my choice."

http://www.investorshub.com/boards/read_msg.asp?message_id=164817

"If I don't follow through on my option, then 10 million shares comes off the books."

http://www.investorshub.com/boards/read_msg.asp?message_id=164866

Why not get SEVU to publicly announce SecureView unit production, unit sales and product returns?

Now that would be very useful in evaluating SEVUs prospects, far more useful than the typical SEVU PR.

If SEVU was serious about informing investors they would have already done this.

The fact that SEVU has not is an ominous sign.

IMHO+++

High rates of SecureView returns would also explain why RLM is now publicly backing away from his commitment to purchase $1,000,000 of SEVU in the PP despite the fact that the shares were priced at only 10 cents.

CaseyOne - Do you any insight into the automobiles and boat carried on SEVUs balance sheet at year end 2000?

From the 10-Ka:

"5. PROPERTY AND EQUIPMENT
Property and equipment consists of the following:

Automobiles $ 92,607
Boat $ 63,114 "


Seems rather profligate to me.

DK - SEVU should have filed a Form 8k at the time of the PP and not attemepted to burry the information in the 10Q months later. I don't see how you can reasonably deny that.

Obviously offering stock to select insiders at what we know was at minimum a 50% discount to market value and which resulted in 100% diution to other shareholers was about as material information as material can be.

Also SEVUs BALANCE SHEET (in the 10Q) clearly shows about 35.5 million SEVU shares are now ISSUED. Why deny that?

While the quality of your posts are high, they are biased and it is quite apparent to me that you have some friendship or fondness for RLM.

Bigbizz is 100% correct here.

http://www.investorshub.com/boards/read_msg.asp?message_id=164380

A bonafide interest-free loan (say $500k or more) from RLM to SEVU would generate enormous goodwill and credibility for RLM and SEVU.

RLM - rescind the PP. Consider a rights offering open to all shareholders. It seems to me a 10 cent price could be justified under this cicumstance.

RLM - You are right. DK76 does make some valid points. FGs overnight metamorphosis is downright wierd.

http://www.investorshub.com/boards/read_msg.asp?message_id=164763

But you shot yourself in the foot again with that last PR. The time for SEVU issuing misleadind and Pollyanna PRs is LONG past.

I do think you still have a better than 50% of staying out of prison, if you play your cards right and IF you still have substantial and liquid assetts. You simply need to start doing the "right thing" on a consistent basis.

I wish you well. I love a good corporate turn-around story as well as one of personal redemption in the face of adversity.

"..screwed beyond the generally accepted norm.."

Wow.

Isn't it possible that 10 cents per share is a fair price for SEVU stock and that SEVUs business model was never really all it was cracked up to be?

FG - RLM seems to be implying that you where behind much of the irresponsible hype that drove SEVU stock to unsustainable high prices. What say you?

FG no doubt the PP was sneaky, greedy and very shareholder unfriendly.

But that does not necessarily mean it was RLMs idea.

It could of simply been greed on the new management's part.

The PP was announced all the way back on March 30. (And SEVU was trading over $1 then.)

Why did it not concern you until now that the terms off the PP was not disclosed to shareholders?

Offshore transactions? Shady business associates?

What is you source for these unsubstantiated accusations? What is the nature of your evidence?

And btw, FG why did SEVU/RLM not include you in their 10 cent share PP deal?

You signed your post "just my personal opninion" instead of jmho+++. Any significance to that?

The ARROGANCE is world class. A trip to China! That's just peachy!

Does anyone else think it is more than a little extravagant for two SEVU officers to be trekking to China (on company time and money no doubt) ostsensibly for "product-sourcing".

You must be kidding. SEVU had $500k in total revenues last quarter. How much "SeaLite and TrakView" could SEVU possibly be selling to justify this trip?

How large an entourage went with Messrs Bernardich and Ambler and what was the total expense?

IMHO+++

The epitome of GREED.

That describes "the terms" of the 2001 PP. IMHO+++

For further details read from the 10K:

"During the six months ended June 30, 2001, 17,042,000 shares of the Company's restricted common stock were offered for sale through a private placement under Rule 506 of Regulation D.
The placement was open to select, officers, employees, and representatives, of the Company for the purchase of common stock. During the six months ended June 30, 2001 $318,750 was received under stock subscription agreements. A receivable for subscriptions of the remaining shares of $1,385,450 was recorded as a reduction of equity as of June 30, 2001."

emphasis added

FG agreed. Also the 2000 PP proceeds were used to fund an amazing $2,056,403 in expenses for "adverising and promotions" in Y2K.

This is an astonishing number for a company only had $1 million in revenuue.

I think shareholders deserve a more detailed accounting for this expenditure.

DeadMan - I have no reason to contact Foley & Lardner at this time.

I am posting what I believe is salient information that should be considered when evaluating an investment in SEVU stock.

There are numerous legal issues surrounding SEVUs private placements that may negatively impact SEVUs stock.

If you think my opinion is wrong, I would like to hear your rational.

Recent Private Placement yet no SEC form 8-K was filed.

This one is a no brainer. SEVU should have filed a SEC form 8-k for the last private placement. It resulted in massive dilution to shareholders and the huge discount to the current SEVU market price was material information as well.

A press release on the private placement was issued month ago but SEVU waited until yesterday to disclose the terms.

"8-K: A report of unscheduled material events or corporate changes which could be of importance to the shareholders or to the SEC. Examples include acquisition, bankruptcy, resignation of directors, or a change in the fiscal year."

http://www.edgar-online.com/formdef.asp

Francios you may want to have your lawyers look into this.

oh yeah IMHO+++

Problems with the first Private Placement:

First the $1.1 million dollar loan was probably illegal unless it was disclosed to private placement investors prior to the investment. (I have a case in point on this that I can post.)

Second, it was probably an illegal ommission of material fact unless private placement investors were informed that RLM was serving probation in the State of Florida for Felony Fraud.

I have no doubt there are many other technical problems with the private placement since SEC rules for a Registration Exemption are difficult to follow.

All in IMHO+++

Cabos - Actually RLM "borrowed" $1,146,534 in the form of a non-interest bearing note.

http://www.sec.gov/Archives/edgar/data/894536/0001016843-00-000434.txt

Taken from the private placement proceeds this was sleazy at best and quite possibly illegal. IMHO+++

Already did. One more time:

From SEVUs balance sheet as reported in today's 10Q:

"Stockholders equity: Common Stock 35,478"

From SEVUs most recent 10-Ka:

"Common Stock, $.001 par value".

Now applying simple accounting concepts, one can only conclude:

There are 35,478,000 SEVU common shares outstanding.