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News-
Press release from SeaView Website-received via e-mail @10 a.m.
"Seaview has entered into an agreement with Sun Capital, Inc. of Boca Raton, to handle the Company's accounts receivable funding and management. 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"--written via e-mail and quoted by Doug Bauer. Looks like the class action has been settled!
What is your reasoning for thinking so? What direct correlation is there to the settlement(dropped/settled)of the litigation issues and signing of contracts from retailers or those companies looking to purchase the parking lot surveillance systems? Anybody?
You are correct. If any major focus of desired revenue is to come from retail sales(not the parking lot surveilance system)people have to know more than what they read in Skymall or on a website. That is why I think a QVC type endorsement would get that word out, or a very unique and multi-funtional group of products will remain unrecognized, sadly, until the decision to close shop due to lack of revenues happens.
The technology is outstanding and much time has been spent on establishing distribution networks, however, most people who would purchase these systems don't know they exhist or what they would do for them!
One alternative would be to bring in a venture capital firm, but they would insist(as their money was at stake)on marketing these products in a different manner. Would giving up 20to 25% of the equity in the company to get immediate and ongoing capital, and, most of all, the marketing expertise it appears that Seaview lacks? If that is what gets the sales moving, the obvious answer is yes, versus bankruptcy.
QVC and HSN could sell a lot if they used their 1/2 hr infomercial. They screen quality very closely before taking on a new product, so that you are quite certain you aren't buying an inferior product. That is what their customers come back time and again for. About 6 months ago, I spoke with management about this idea, to "get the knowledge out" about the products to create an awareness, something that still is lacking today. They said they didn't want to go this route because they had preferred ways of marketing. Unless there is something big, that has or will happen with regard to volume sales, I think it is time to rethink this type of marketing. It can be very successful, and, with these products, would sell thousands of units.
I see the biggest issue is educating the public on how effective the product is, and what you can use it for. If they don't know that it exhists, why would they look for it on the shelf of a store. If there was an effective way to broadcast its functionality, and then say that it can be found at certain, well-known locations, then the chances for significant sales increases.
Thank you for the update!
Someone posted before that Foley and Lardner didn't represent the company anymore. Are they still involved with this function?
Assuming there are about 30-33 million shares outstanding, including restricted shares, and the company has another 30million shares issued(for some use) but not outstanding, if the 3rd quarter results are good, and guidance is good, it is possible that the Company knows that there are not enough "float" shares available to satisfy any type of institutional interest, so the 30 Million shares are there for a possible split of the shares, if conditions warrant that. I'm not certain, but I don't think the filing to substantiate the outstanding shares is due until Thursday.
You're correct. The facts/results and guidance going forward are all that matters!
George would not have elected to purchase the shares he did, between .51 and .80, if the upcoming PR was going to be a disaster. If that indeed was the purchase price range, could that mean that the PP was changed, since someone mentioned that those number of shares were not reported as traded(in volume) during that time period. I think we will see that the PP was changed. Again, no reason for George to purchase, now, if next weeks news is negative! He knows what we don't!
Well put! Until we see the quarterly report and the actual info regarding the PP, very crititcal comments about the current management are premature. Possibly there will be disappointments for an issue or two, but if the product is selling more, and the alliances that have been formed begin to pay off, we should be patient. No normal CEO would put this much of his personal funds in something he thought was "tanking", just to keep it afloat. If that were the case, it would have been much wiser for the company to get a receivables line of credit, where the default would be at the company level, thus protecting his personal assets. George has exercised his judgement in the purchase for reason, one that we will learn about next week.
As long as reasonable progress in "selling" has been made, to all the retailers, etc. we, as shareholders should be pleased. It is the lack of communication and knowledge that makes the unknown difficult to accept. I don't think our expectations should be exceedingly high, but with part of the "backlog" to fill, the quarter to quarter comparisons should look good.
I couldn't agree more. You don't have the information, until next week, to say that SEVU isn't selling product. New Management has prepared to to sell by forming key alliances with some of the best retailers in the country. With George's purchase, and the inherent tax liability that comes with it, assuming some or all were acquired through the PP, says a lot. If he purchased it all outside of the PP, it says even more about his view of the company's prospect. Next week's news, I think will be very good, but possibly not at the high range that we all would like to see. Steady progress works! If next week's numbers are very disappointing(I don't think that will be the case), then some of this criticism will be warranted. Will be interesting!
The timing on this purchase, if the PP shares were used, could directly have an impact on George's Alternative Min. Tax Liability. If he exercised the option and acquired the shares now, with a market value of $.75 versus something much greater in the future, his AMT liability would be greatly reduced. Having him put up a significant amount of his personal funds to make this purchase, before the 3rd quarter numbers are released, may lead you to think very good news is about to become public. If the news is significant, and the guidance with contracts is part of the news, George just saved himself a load of taxes, which will be due 4/15/02, even though he can't sell the restricted shares for some period of time.
As a matter of interest, I just got off the phone from Supercircuts, and inquired about the sales of Securview. Their reply was that they are selling "very well" especially to the home market, and that they have had no returns of the item, due to their failure to work.
Are there any websites available that show the blocks of stock being bought? CNBC used to provide this, but no longer does.
He's not the one continuing to "pound" this board, responding to any type of positive post. If you are that dissatisfied with the management and the outlook for SEVU, why not sell and move on, and leave us holding the remainder of the bag?
FG, you must have something better to do. For our sake please give us a break from your board activity!
Rich,
When the site is functional, please let us know how to access it, as this site has gotten old! I hope we will see some positive numbers soon, and guidance based on actual orders. Thanks.
Absolutely pathetic! How can you possibly do this all day and night? Give it a break. If you hold the stock, sell it. If you don't, find something meaningful to do!
Now would be a great time for a good PR to come out regarding the 3rd quarter numbers, as, according to the two factions on the board, are only one of two extremes that have happened: "tanked sales" or those which have "exploded". Yes, it will be good to know something concrete to completely discredit those who deserve it!
If Frank has information which is correct, he should not have it, so confidentiality has been breached. If his comments are unfounded, and results bear out that sales and profits are improving, significantly, something should be done about the erroneous allegations!
I don't think Management would give you this information, without releasing it to everyone, especially since it is your intent to do as much damage as possible to the company. The numbers could be out anytime, at which time the real truth will be known.
I hope this is something that senior management at SEVU is actively pursuing, as the Govt is "flush" with cash to fix the security problems of the country. What an opportunity for the successful bidder! And we already have GSA numbers established!
I don't know it, however I suppose that I have more confidence than you do, even though I also think a few key things could have been handled better in the past. My focus is looking forward in the hopes that we will be rewarded, for a lot of patience. If I truly thought there was no uniqueness or need for the product, I wouldn't have invested, and then added to the position on weakness, or I would have sold long ago. If anyone hates the company, Rich, Management that much, and they feel the products will not be successful, within a reasonable period of time, why wouldn't they sell the postion and invest in something they did believe in?
A few people on this board will be completely lost when earnings are released, along with other positive news, while those who have continued to support the efforts of you, the Management and the Company will have many good things to post about. We are just hoping that that will happen within a few weeks!
Let's revisit this comment in a couple of weeks and see if the facts are still the same! Once the earnings are released, the other BS will be something that no one pays any attention to.
Federaal Government takeover of security at airports could present a great opportunity for security firms. Imagine a considerable upgreade of the metal detector/xray equipment, and the type of employee who operates them. The Government is "flush" with cash to spend on security. Having Securview cameras behind every security station and monitoring those actually going through the baggage area, would be a simple solution. Having several cameras on each plane with the monitoring capabilities taking place in the pilots cabin, would greatly enhance the overall security of the plane, not having the pilot or co-pilot out of the cockpit for the entire flight, especially if all passengers knew what the capabilities are. That, and having a visable armed martial on each plane would restore a great deal of confidence in a system which now is "frozen". With GSA numbers already assigned to Securview, what a perfect time to go back to those government decision makers about these opportunites, as the Country is waiting for changes which are anticipated to reestablishing confidence. A large government contract for Securview could be very timely, if Management calls again on the decision makers.
In addition, if you could install a secureview or two in the cabin of each plane, and then have the decoder with the monitoring screen in the pilot area, then the pilot and co-pilot could stay behind a locked door, and see the activity in the cabin, without compromising their control positions. I would also think that extra cameras around the airports to view the food delivery system to the planes and other new areas of concerns would be helpful. Someone at Seaview should be in front of the FAA to review these possibilities, ASAP. They would be of interest to the regulatory organizations as well as the airlines, and, considering all costs, very inexpensive.
Rich,
Could you help us understand what the relationship with West Marine is, now, and if it has been terminated, why? Also, why does Heartland state that they have no more supply of Secureview?
With regard to mass production, how many units can be supplied, if orders were received for them, in multiples of the 20,000 unit runs?
In general, if orders for hundreds or thousands of Securviews are received from Costco, Home Depot, Supercircuits, etc, how long do they have to wait to be filled, and, in general, what is the expected time for payment? Thank you.
"Lock-up Period"-For lack of a better term, how can we find out when the distributees of the subscription shares can sell them, at the earliest? Shouldn't this be public knowledge?
Aside from what you think of Rich, up to now Management has attempted to do things "by the book". I would be shocked to learn that the attempt ot distribute 17 million .10 shares among Management would be attempted. Foley and Lardner is excellent Counsel and would never bless something like this. I think we need a response from Management, and, only then, draw conclusions, such as others have rushed to. I'll be the first to admit that I'm wrong, but an act like this would subject the Company and Foley to endless legal challenges and discredit Management, completely. We are not there yet, and won't be, and I think that will be borne out by Management's response and future actions.
Could any of these be for the purpose of splitting the shares down the road? You will not see millions of shares issued, now, to insiders. with the stock depressed to the point that it is. Simply won't happen.
When you observe the ownership of the shares by Management(excluding Rich, who is only a stockholder), no one owned that many shares. This minor dilution isn't suprising, and suggests that better things are ahead, after the announcement of earnings.
Could the additional shares be "authorized" but not issued shares, for future use, whatever that may be?( established for float purposes), only after positive earnings move the share price?
On your RB post, you refer to a $9million backlog of Securview, and refer to another PR of the company. What PR is that, and wasn't that the same number which was stated for the backorders from last year. Or, are you saying that the $9 million number refers to this year's activity? Thanks.
Think about all the convenience store chains, especially those in high crime areas. A sign on the door could say" activites in this store are continually videotaped, for security reasons, by Seaview Video Technology Corporation,the World leader in wireless video security". Not only would it be a deterrant to crime, but the first time a crime was solved by use of the tape, again, Seview would have exposure for free.
I would think that by lowering the number of crimes such as this, that the insurance carrier for the convenience chain store, could offer a discount for the insurance, which, in turn, would pay for the Sevu camera system. A win-win situation, with the new dollars going into the SEVU cash register.
Without something bigger to report, I think you would lose the value of the information. Couple it with a big order, good news from the trade show, actual booked business numbers, a basher or two prosecuted for shorting, or some combination thereof, and then you have something. Management has to be tired of the effect that the negative forces have had on the company stock price. Only numbers will make it work, although, if booked, they could be released prior to the end of the quarter.
Based on the negative bashing on this and RB, I doubt that you will hear things in bits and pieces. Management is being very careful to announce anything but facts. We all hope that a good part of the $9million backlog was sold, and that other significant sales have happened, making for a good 3rd quarter, but Management has seen what has happened here, already, so why announce anything, until they have to, which may coincide with a clearance on the SEC Audit, a "booked" large contract or two, and the ability to get analyst coverage, when the share price stabilizes at $5 and above. Then the numbers will speak for themselves!
I would bet that the production issue is behind us, and that we are close to the next 20,000 production run, which does not have to be disclosed.
I think that if you spent time demonstrating how Secureview would have application to many uses(monitoring an infant/babysitter, your residence/business etc.) and highlight the simplicity and the cost, you would develop a lot of interest.
I do agree with you that the real money maker here probably will be the parking lot security, with virtually no similar competition and a huge market, both domestically and globally.
If approved, an expesne like this for Walmart, Costco, Home Depot, to protect their clients would be a drop in the bucket for them, considering their enormous revenues. If that happened, it would also provide a great advertisement for Secureview(for sale inside the store), stating that those companies have chosen it as their primary means of security.
Things are looking good. We just need to see some actual numbers, showing significant improvement over prior qurters.
I agree, at this point there aren't many people that know that this technology exists, or what it could do for them. It's how you get that out to the masses that will be important. I think a half-hour infomercial on QVC or HSN would do wonders in educating the public on why they would want the product. These two avenues of advertising are very successful, especially with very unique and useful products. They could sell thousands of units in a short period of time.
When and only when there are significantly higher sales and revenues reported, will this stock be attractive to analysts ,and then, institutional buying. When those higher levels can be sustainted, and we can get on to an exchange with more stability, then you will see the type of market coverage which is deserved. At the current time, with now new news, which is factual, this stock is at the prey of day traders and MM's, reaping daily rewards of 25%. Also, you have several individuals who have filed to sell(SEC rule 144), and as they sell into such a low volume, it will keep the price in this range. Only positive sales and revenue, statements of fact, are going to do the job, but right now, I would guess the Company does not want to pre-release "some" good sales news, only to have the negative forces of the daytraders and MM's drill the price back down.
If there can be a significant increase in sales for a quarter or two, and then couple that with analyst coverage, and a big contract or two, then insitituional coverage will take this where it deserves to be. It may take longer than we would like, but, I'm confident in this team to pull it off. Experienced in marketing/sales, having no debt, having virtually no competition, and an unlimited market into which to sell, and, most importantly, a product(s)which are/will be in very much demand in a the growing field of security, will reward the patient investor. It is happening now!