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Is it just me?
Or does George's letter sound like vintage Rich? More unsubstantiated, good-sounding stuff...but no verifiable facts. In fact, he even uses Rich's style (e.g. asking and answering your own questions...Are we idiots? Yes!).
Good news, Bad news...
Bad news: Rich is indeed a complete scam artist...Good news: somehow he managed to stumble into some actual products that could be very successful eventually...Bad news: Rich exaggerated PRs, revenue and who knows what else...Good news: there is a new management team that seems to have an interest in making this a real company....Next news: Good or Bad????
BTW, it appears Rich is now substituting message board announcements for PRs...same MO, all promise and no fact.
So, Rich...when might I actually be able to BUY one and physically RECEIVE it? Does anyone realize there has been no SUBSTANTIVE announcement about SecureView for quite a long time now? When I can really order one from a respectable source and then get it within a reasonable amount of time (God forbid I could see one at the local XXXXXX store), then I will believe again.
I don't think A@P is that smart or clever...he simply has developed a network of supporters that help him poke around for useful info and he is brazen enough to regurgitate it in his own self-interest...think how bad this whole thing would be with the same or similar information presented professionally (with reasonably good grammar) and from an unimpeachable source! A@P is a third-grade, equities-oriented version of the Weekly World News. BB stocks are, of course, speculative and all about potential...but, theoretically, they are supposed to be capable of growing into real companies...with competent management (who, at a minimum, could proofread their own one-page PRs for accuracy and common sense).
1) Rich has had as much influence on what we talk about as the shorts...without all of his misstatements, premature statements, exaggerated statements, and maybe false statements, we wouldn't be in this shape...2) We've been TALKING products and potential for over a year...SEVU hasn't actually DELIVERED anything appropriately concrete....3) the jury is still out as far as I'm concerned...A@P is a self-serving, minimally-intelligent, half-assed, pseudo-journalist short-seller...but, Rich is apparently the OTC-BB reincarnation of Eddie Haskell, who will say or do just about anything to serve his own interest. Tough choice when it comes to putting your money down...think I'll wait for something with some actual substance.
Just read the latest on the SEVU Soap Opera...boy, a lot of stuff happens to this company, doesn't it? Almost hard to believe.
This stock will not go anywhere until something of substance happens. Remember when A@P's first attack came out? Rich's response promised a couple of things: 1) mass production the first of the year, 2) an order from 7th Armcor shortly after the first of the year. Well, it's January 18. How about J.C. Penney? Radio Shack? Taiwan (remember, we're going direct!)? GSA? Forget about the AMEX thing...just show me SecureView available through any channel. When I can see one at ANY retail outlet, I will buy back in. Check that...I would buy back in if I could see confirmation from an actual significant commercial customer that they have bought and received the goods.
Rich's worst enemy is not A@P...it is himself...despite A@P's Enquirer-style "journalism", it seems every time Rich has an opportunity to say something he can then show is true, he chooses to stretch the truth instead...leaving A@P yet another round of followup. I'm through with SEVU, unless some sort of miracle occurs...I was waiting to get a feel of where things might go, but why not put the money elsewhere where there are less things in doubt?
I used to be an "investor" (as that term applies generally)...my philosophy is still very well aligned with that concept, but, it seems to me that "trading" has become a much more applicable approach in times such as these...Case in point: as confirmed by earlier posts, I sold all shares of SEVU immediately after reading A@P report #1 (not because I necessarily believed it all, but because I knew what would happen to the stock price)...I bought back a significant position at $1 11/16 with the explicit objective of selling at a reasonable gain...then did so today at around $3...this is what I will keep doing as long as there is no clear "winner" in the war between A@P and SEVU...P.S. for the accountants in the thread: I'd just as soon pay more taxes on gains than sit around and watch the whirlpool...
Bulldop..you are the ultimate "yes man"... whatever..we will see...
Gee, when I said a few posts ago that some of you needed a bucket of cold water in the face, I didn't realize someone was filling up the bucket already...you should all listen to the recorded interview with a former SeaView employee on A@P's site...
Wow. Some of you folks make a dog's loyalty look trivial...I am still waiting for something substantive from SEVU that will put this ugly chapter behind us...but, what we get from Rich (latest View) is more of the same, IMO... some vague belated tidbits of truth (when caught) and a whole bunch of excuses...my favorite line is when he says at the end that this View was going to include product updates, etc....but, somehow infers that wasn't possible to do in conjunction with his confession...limited space, I guess, huh? Some of you folks need a good bucket of cold water in the face...
As an above average EE...I respectfully think you guys are spending a lot of time on the wrong issue. Personally, I don't believe this is all about a chip shortage, blah, blah, blah...this is about an over-exuberant, marketing-type CEO making promises and statements prior to having a strong foundation for same...SeaView has, in effect, never really been a volume manufacturing company (assembling modest numbers of underwater cams doesn't count) and, IMO, is struggling not only with that, but with a well-meaning CEO's inexperience...
A reverse split might help...wait a minute, didn't that happen somewhere related to Rich recently? I feel for you guys, but, it's gonna take a lot for recovery here...especially if given past behavior predicts future behavior...
At this point, I think it's pretty clear that Rich has been fairly good at some marketing campaigns for RonCo-like products and running a very small company that produces underwater video cameras by hand. His chances of successfully taking a very small company to large-scale manufacturing (and he hires a COO from JCP...quite the mfg. organization) are diminishing, to say the least. Add to the equation a bunch of sleazy (and that's the only word I can think of) PRs...then a default on AMEX...well, most Rainmen could see where this is headed. I got minimally burned...but, you hangers-on can kiss it goodbye.
I am beginning to have the opinion that some of you deserve what is happening to you. It's like talking to a bunch of Helen Kellers.
Well, I see a few people here are starting to agree with me...I guess we're ALL communist/bashers. Like I've been saying for 2 days, rebutting A@P's major allegations should be easy if they are not true (e.g. just tell us the GSA story, have one or more of the partners make a statement). I find it particularly diturbing that Mr. Bounds of Logis-Tech, who was quoted so extensively and damagingly in the A@P report, has remained silent...seeing as how LT has been presented as such a key partner. If there HAS been a falling out, let's get that out on the table, too. Right now silence is damaging...and the pathetic response on the web site does nothing to change that. I say all this from the perspective that I WANT SEVU to win out...not A@P. Of course, the lower IQs here will continue to think otherwise.
Right (sarcasm). To some of you guys, everyone is a communist...er, basher. As I've said consistently through this mess, I'll buy back in when I'm completely convinced...so far, the response by SEVU has been excrutiatingly superficial and meager. I may have some evidence tonight that will convince me one way or the other about what's what in all this. With any luck, I may come to a buy conclusion while the price is significantly lower than where I sold.
you guys are unbelievable! If a "con" (and I have called him that as well), were to publish complete, libelous fiction...do you not think he would back off at some point after being challenged? Oh wait, he hasn't actually been challenged specifically...Yes, your logic is SIMPLE...I would love to see Anthony back in jail and SEVU back on track...you wanna tell me how that is gonna happen? That's right, sevu IS GOING TO HAVE TO SUBSTANTIATE SOME OF ITS FLUFFY CLAIMS...a bunch of feel-good messages by guys like you ain't gonna do it.
This is the part I love, Brettin. I have been long SEVU for a year...now, when I question the company, I am a "basher"...there is a strong element of McCarthy-ism in situations like these. I AM out. I sold. After holding 12,000 shares for a year (from date of earliest purchase). Kick me out, delete my posts, whatever...as much as I despise Anthony and any short-sellers...this shows me reality. All I am asking for is the truth...I would love to buy my shares back if I thought the future was bright. You guys have tied yourselves to the mast.
Stuuf like that from Sunshine is actually counter-productive, as far as I am concerned...
What is verified is that a few cameras have been sold. I, personally, am looking for more than that. "Scam" has many levels...I don't know if this is a "scam" of any level or just a major screw-up. What I do know is that nothing of any substance has been advanced to refute the A@P report's major allegations. I am waiting for substance in some form that will entice me back into SEVU...I would actually LIKE for this to happen...I believed in the products and the company...I want SEVU to be successful.
Sunshine is a clear example of what Viagra does to message boards.
Are you kidding me, Chad / sunshine? You're the Sunshine State kid...I'm pretty sure you either aren't old enough to vote or you're too old to punch all the way through....
OK...you are officially useless, sunshine.
I did buy SEVU about a year ago at 49 cents. What makes you say I am a liar? I am mildly interested in your rationale.
Exactly how old are you, sunshine? Take a look at your keyboard...there is a "Caps Lock" key...hit it. Once. Give us something with substance, please. Also, better check the ! key. Seems to be stuck.
Sunshine...get in out of the sun. Your head is fried. As was just stated by someone...let's see the GSA number. How hard is that to provide?
That's the POINT, FG...I was a believer in SEVU. Now, my hope for SEVU recovery fades with each day. I was lucky...bought first at 49 cents about a year ago, then added more later...sold at $3 1/2 for about an overall breakeven. Clearly, I am not BLIND, like some of you...I may have been fooled for a while, but not forever. I still would love to see SEVU refute the A@P report in any material way...what I get is Rich's excuses, promises and delays...no real evidence to support prior claims...no admission of over-exuberance in PRs...nothing I can hang my hat on. As for you...you are clearly a tout...I used to think not, but I was wrong.
My God, FG...your "gut feeling" and you think we'll see proof of a GSA listing "soon"...anybody want to tell me what conceivable reason there would be to "disguise" a GSA listing? Gotta tell you, this kind of reasoning is unbecoming of a second-grader. Frankly, this whole thing gets worse by the hour.
Well, I see Rich didn't really answer the questions I posed this morning about Logis-Tech, GSA or manufacturing/shipments in general...Another fluffy, feel-good View from the Bridge with no hard facts and a couple more promises (e.g. documents will be posted "over the next few days" and production run at the first of the year...). I am poised to buy with some hard evidence from SEVU that A@P allegations re: the above subjects are irrefutably wrong...but I will not be talked into buying based on promises of evidence or phony DD (like the McBride listing on GSA...what a hoot).
Bulldrop...I don't think YOU understand...show me how I can go to the www.logis-tech.com site and get to SecureView, since I wouldn't know the direct link you provide if I was the average potential customer, now would I? Can't get there from the main site, can you?
There are many innaccuracies and other issues with the A@P report, but these are the key questions that MUST be answered by SEVU:
Logis-Tech: 1)Does Seaview (SEVU) currently have a formal relationship with Logis-Tech (LT)? 2)Is LT authorized to sell any SEVU products? 3)Has LT received POs for any SEVU products to date? 4)Has SEVU shipped any products to LT or its customers to date?
GSA: 1)Are any SEVU products currently available for purchase through any GSA catalog or website (or by any other means)? 2)Have any products been sold through this channel to date? Shipped?
Manufacturing: 1)Are SecurView cameras currently being manufactured or assembled? By whom? 2)What is the current manufacturing/assembly volume? Capacity? 3)How many SecureView units have actually been shipped? 4)Are secureView cameras currently available off-the-shelf in any retail channel? If so, where?
AMEX: 1)Has SEVU been approved for listing to as of this date? 2)If not, what is the latest status, as advised by AMEX/Speer/Leeds/Kellog?
There are plenty more questions, but answers to these would be a great start.
We'll see tomorrow. No excuse for not attacking any untruths by Anthony. Silence, or mis-direction, is not adequate.
I sold today (at 3-3 1/2) after reading the report, knowing that, whatever happened, the stock would tank. If SEVU responds appropriately with counter-arguments, I will probably buy back...if they don't, I will not. There are many mistakes and arguable points within the A@P report, but there are a few major allegations that need a strong response. If none is forthcoming, I will stay on the sidelines.
So, Bull, since he is a "pathological liar"...the easy solution is for SEVU to refute key allegations in the report by A@P. Simple. Either they do it tomorrow, or not. The report has several mistakes, mis-statements and likely-wrong subjective opinions (IMO)...but the allegations about Logistech, K-byte and GSA are quite clearly either right or wrong...if wrong, let's hear evidence from SEVU...should be easy to produce if it can be produced.
BY "cons", do you mean Felony@Pacific..er, Anthony@Pacific?
My point? Just how stupid are you?
I am in since December 1999: @ 49 cents, $1, $3, $5, $8, $10, $12, $14, $19, $11, $9, $7, and $6. Everything I said applies.