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Shamus, any form of compensation from sevu to Mcbride and Associates would have to be disclosed.PERIOD.
on the second point, it seems to be splitting hairs. If Rich did not receive the money then it is not compensation. however I see your point.
JMHO
Shamus, sounds like a great deal to me!eom
shamus...here is your filing on related parties...
13.1 Transactions with Management and Others
During the year ending December 31, 2000, we contracted with R. L. McBride and
Associates, Inc., a Florida Corporation, for professional services in
advertising and public relations. Richard L. McBride, our CEO, was the sole
owner of R. L. McBride and Associates, Inc. The total amount we paid R. L.
McBride and Associates, Inc. through December 31, 2000 was $80,000. Mr. McBride
received no direct or indirect compensation from R. L. McBride and Associates,
Inc. while serving as an executive for us.
R & D and marketing. Also, I believe he is not taking a salary or an extremely small one.
I am done with this conversation.
end.
JMHO
cabos, I am not one to defend Rich but he is in charge of the marketing of SEVU and rightfully so based on his history.
Besides, it is a no brainer!!!!
Thanks Dan for the advertising, it should be huge.
JMHO
A@P, BWHAHahahahahaha. (sorry, could not resist).eom
Here is my thoughts...
NAIB shorts 1.5 million shares to Suburban Capital Corp. on 5/14/01
Then covers via various 144's and scared Longs who sell into the spiral that NAIB creates via price manipulation and aided by short originating Lawsuits.
Sounds possible to me.
anybody?
my opinions alone
It appears that the Suburban purchase was open market as it occured on 5/14/01 per 13D and see below.
transferred from RB...
"Total number of shares of Common Stock, as of March 31, 2001: 18,766,334" taken from 1st
qtr 10Q.
per Signature Stock Transfer, Inc (fax I just received, certified and signed) total shares
outstanding 18,434,909 and float 11,050,750 as of 7/6/01 at 10:30 am est. If I had a scanner I
would post it.
It actually appears SEVU may have bot back some 331,425 shares.
JMHO
Surburban capital bot 1.5 million shares in the open market (per george bernardich). You don't just buy 1.5 million shares of a company because you felt like it. Also if you look back at the file date of the 13D and back track the 10 day filing requirement it seems to me that it puts you right in the middle of all those large transactions right at the close each day. Hmmmmmmmmmmmm.
Any comments?
thought we all could use a reminder about the underwater cameras.
http://www.sevu.com/reviews.htm
"...like it or not..its how much money a company makes that matters....bigizz"
Well your statement does has merit...we did re-elect bill clinton!lol
JMHO
cabos, I do not necessarily agree with the way the info was handled at the meeting. I am just giving you the info as I received it. end of story.
"how much of the backorders were filled?" they stated they were confirming each and shipping however mixing in enough cc sales to create immediate cash.
"how many units have been produced so far?" My calcualtions say about 800 secureviews shipped to paying customers. They said about 50% of 3rd qtr revs from secureview. ($500k/2=250K / $300 per unit)
"did mcbride buy stock or not?.why didnt he just come out and say he did after waying he would?" Who knows but we do know that he is not saying.
George did say he bought and still is buying and he has filed the SEC forms by mail.
Many of the difficult questions were asked and many were returned unanswered. Thats it.
JMHO
Paulmk, every question that was asked concerning past and prior to new management was basically stated as a no comment. The new team seamed very reluctant to comment on any of the legal type stuff. Hope this helps.
JMHO
I would say they are probably still trying to set a market price for secureview. Therefore are test different prices to estimate the demand curve.
JMHO
Golfnut, I agree.eom
Bookum, welcome...
I forgot about cosco. he did say november on the shelves.
JMHO
Golfnut, my thoughts exactly. also do you recall them saying something like homeplug was on hold because the contract might relinquish some of sevu technology to the other members to use as they wished? That keeps sticking in my mind.
JMHO
FG, George also said that it is quite possible that orders from skymall can happen as soon as monday.
Also the standard parking lot setup is made up of 8 cameras, the software to control all on one computer screen and some special box that sorts them (router?) sells for $18,500
JMHO
OK, here it is...
First, Seahag, you are even more a lady in person, it was my pleasure to finaly meet you. Also sorry for taking so long but after dinner at marino's (good food) and a few drinks I was flat wore out.
Answers to specific questions asked...
1) Open market purchases by insiders-George B. says yes he has and has filed forms 3&4 via mail for past several months and is still buying.--Rich made no statement as he remained quiet most of the evening and basically observed.
2) Private Placement--still in the works but is going forward as these things take time.
3) 1.5 million shares filed with SEC as an acquisition--was an open market trade NOT new shares issued. Per George "We have no control over any purchases in the open market"
4) Color secureview with auto fade to B&W at low light is in product development but no comment on when it will be ready.
5) Monarch (one of the largest dental HMO provider) is ready for the denta cam as soon as it is retail ready.
6) The lawsuit PR about A@P was posted on the wall and highlighted (LOL).
7) Production-SEVU is contracted through the year for outside production. 20K units, however George said they will produce as much as needed. if more is needed they will produce it during 2001. capacity is available. (george was very tight lipped about this).
8) Sales for 2nd qtr-Keep in mind that secureview wasn't in "real production" until 3rd week of may. rough estimate per CFO was $500+K and $700+K for year to date. I was somewhat disappointed but they are shipping secureview for about 3 weeks only. My estimate is about 800 units were shipped.
9) management team is serious and in my opinion will be able to get the job done.
10) Alot of tough questions were asked and answered as best as they could. it was obvious to me that the management team wanted to tell so much more but could not.
11) CFO said that there is sufficient cash and cash available for now and the forseeable future. "SEVU will stay in business".
12) still no long term debt and short term debt consists of only trade payables.
I will probably remember more as my brain drys out but that should get you guys started.
These are my own observations and my experiences at the SH meeting. Other people may interpret the events differently. Use your own judgement. my opinions only
By: gotinearly $$$
Reply To: None
Friday, 29 Jun 2001 at 4:09 PM EDT
Post # of 38353
Just spoke with a buddy who was at a trade show in orlando last week. He said there was a
SEVU booth but he could not get close to it because of all the crowds.
FYI
JMHO
I will ask, but I hope the answer is no. At this time it appears that the damage is done. Why would SEVU want to spend the time, effort and money. However, they may want to join the other company and share the costs...hmmmm
JMHO
Rock n Roll, baby!!!eom
paulmk, you got it.eom
awesome news about A@P...
Anthony Elgindy gets sued by an OTC:BB company:
http://biz.yahoo.com/prnews/010629/laf007.html
If anyone would like to post their questions, i will see about getting the answers tonight. You need to post them by 2pm (eastern time).
I think we came out of the profit taking pretty well. I will take it!
JMHO
dk, my take on the quick shipments is that they are pulling any credit card orders out of the next day's shipment of backlog. By doing that they would get immediate cc pmt as opposed to 30 day or more terms on the retail shipments.
Does anyone know if I can bring a mini tape recorder to the meeting tomarrow?TIA
JMHO
Here is my guess on the revenues...
With say 50,000 secureviews (SV) produced during 2001 and 5000 remaining in inventory at year-end that would generate $12 mil plus about $2 mil from underwater products, that would seem that $14,000,000 would be a good estimate.
I agree that some may think it conservative but given past history, I have been a little more cautious.
2002, I think $50,000,000 is very reachable (barring any unforseen catastropies (sp?)). That would be about $3-4Mil from underwater and $45mil from SV applications (150,000 units @$300).
Anybody got any other estimates?
My opinions alone.
bigbizz, that was the best post of yours I have ever read. Simply outstanding.
JMHO
the answer is New technology management, inc in Virginia. See the July 5 PR. (CC thanks for the information).
JMHO
I think logis-tech is no longer working for SEVU. But can't remember the company. FG any help?
Paulmk, I asked that very question at the open house and Rich would not answer except to provide a very "cat that ate the canary" type of smile. Something tells me that you are right on point.
JMHO
up 25% on 130K volume in 1 hour!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!eom
Bill I will ask at meeting friday.eom
4 DAYS TILL BASHERS ARE DONE!!!eom
JMHO
I just wanted to thank all the bashers for allowing me to more than double my position this morning. Bigbizz, I hope that condo closes this week.
Anyone see anything strange about the last transaction of the day? Looks like a quick drop in price to make SEVU look weak right at the end. comments?
Time Last Size Status
15:54:03 0.4000 8000 REGULAR
15:23:01 0.4300 500 REGULAR
15:18:00 0.4300 5000 REGULAR
15:16:05 0.4100 2500 REGULAR
15:16:03 0.4200 5000 REGULAR
15:15:05 0.4300 500 REGULAR
15:15:05 0.4300 500 REGULAR
15:14:05 0.4300 1400 REGULAR
15:14:00 0.4400 100 REGULAR
15:14:00 0.4200 100 REGULAR
got my SH notices today!!! I am definately going. Lets get some q's together for meeting. This time someone credable (?) should be asking the questions.
PM me with well written questions that I can cut and paste to word. Then I will post the complete list and email them to Rich prior to the meeting so to help ensure a decent and concise response to each.
questions/comments?
DK, your post was #9369 and it still is intact. hope this helps.
regards
gotin
So DK, the question seems to be how many shareholders are there? it looks like if SEVU has less than 500 and we know the assets are less than $10 million, then no edgar filing. hmmmmmmm, anyone know how to find the # of shareholders?
thanks DK
JMHO