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Just dumped the last of my shares...
Tired of the Dilution...
Tired of the Hyping PR...
Tired of the pending Class Action Lawsuits...
Tired of the Lies and Deceit...
Tired of waiting for this stock to migrate from OTC-BB to a real stock exchange...
Tired of waiting on the Secureview mass production...
Tired of the message board feuds...
and finally,
Tired of holding this POS, going nowhere, stock!
JMO and YES Madhatter, I'm mad as hell!
See Ya...
How about it SeaView?
Can we get numbers for Q3 soon? This will have to be a major turning point for the company since we should have finished up that mass production run of 20,000 units and shipped them out, right? That mass production run must have gone well since we didn't hear otherwise, so where are the Q3 numbers? Will we use Rich's passing as yet another excuse to delay things? I hope not. You guys provided guidance in your PR's, so let's see the results.
NO MORE EXCUSES...
Doug
My condolences to Rich's family and friends.
Rich,
May God Bless you and keep you.
May God look upon you with favor and be gracious to you.
May God grant you eternal peace.
Doug
When can we expect preliminary numbers for Q3?
The paltry numbers for Q2 came out at the end of June. Will we get numbers at the end of this month? Why does it take so long?
NO EXCUSES THIS TIME...
FG - I agree with you...
I too sang praises for RM until I found out about the books being improperly stated (and that's putting it mildly). Then came the 10Q about the PP and that company loan to RM paid back with restricted shares. That was the final straw. I still have the shares I bought and my average cost is much higher than most.
I still believe the products and the company can do quite well, but not with Rich hanging around. I have a number in mind and will sell if/when we hit that target. As long as Rich is around, it will be tough to get this stock going again.
For those who continue to support RM even after all he's done to wreck the share price, I think you should take a look back at how all of this has unfolded. FG was the biggest supporter until he, as well as all of us shareholders, were fleeced again! If anything, FG has shown the most consistent character of anyone.
I say GO SEVU and GO AWAY RICH!!!!!
JMO,
Doug
NO MORE EXCUSES...
What happened to SeaView joining the HomePlug alliance?
the Company has been accepted for membership in the HomePlug Powerline Alliance, Inc. According to VP J. R. Cox, a memo from HomePlug, Inc. stated, ``We are pleased to acknowledge that the HomePlug Powerline Alliance, Inc.(HomePlug) has received your application for membership. The organization recognizes your valuable input and support, and we look forward to your participation.'' SeaView's membership in this alliance will allow ``significant interaction,'' Cox said, with such key sponsors of HomePlug, Inc. as Motorola, Cisco Systems, Inc. and Panasonic.
http://www.sevu.com/051101.htm
I contacted HomePlug a while back and they stated that the reason SeaView is not on the membership list on their website is because SeaView never paid their dues. HomePlug received an application but no dues!
Why did SeaView go to the trouble of applying for membership and issuing this PR if they weren't going to pay the dues?
From the same PR:
As SecureView production and fulfillment continues to ramp up, the Company is re-confirming the $9 million in backorders with customers and dealers, to process for shipping. ``In the last four days, we have shipped $40,034 in SecureView credit card orders. Also, we have already received reorders from SuperCircuits, Inc. and View-It Security of Arizona. SecureView systems are now listed and published in SuperCircuits, Inc. catalogs,'' said George S. Bernardich III, CEO.
So if I'm understanding all this correctly, we should have completed the 20,000 unit mass production sometime in July/August. The $9 million in backorders were confirmed (or some portion of it). Therefore, Q3 better be spectaculor. If not, we will know that this new management team is nothing more than a puppet show creating fluff PR!
On top of all this, shareholders are facing a severe dilution in the wake of the private placement.
Will the new management team do the right thing?
I agree... No Excuses this Quarter...
We better see some pretty impressive numbers this quarter as their guidance in PR's has suggested. The new management has got to prove to us shareholders that they mean what the say. Rich led us astray and unfortunately the new folks in charge have had to take the blame for a lot of Rich's misdeeds.
The PP is very disturbing since it was done by the current management group, but if we get some fantastic numbers plus more fantastic guidance, the PP will be more tolerable. I still think its wrong no matter what and perhaps there is still some hope of it being reversed.
JMO,
Doug
Correction....
SeaView is listed as an exhibitor
What a URL!
http://www.asisonline.org:80/plweb-cgi/fastweb?state_id=1000925929&view=vhasis&numhitsfound=...
If this doesn't work, just do some looking around at the Home Page and look under Oct. 1 - 4 conference.
ASIS is American Society of Industrial Security
Hompage is at URL: http://www.asisonline.org/
No mention of SecureView at the site that I could find.
Great PR today...
http://biz.yahoo.com/bw/010919/192238_1.html
I still say that this quarter will be the defining moment for the new management team. This group has given themselves a target and we'll see if they can come through. From my post on 8/24, post #11135:
We've been told that Q2 revenues were minimal due to the fact that shipment of the backlog
didn't start until late in the quarter (early June is what we were told). Well, we can't use that
excuse for this quarter.
Remember this:
"We have committed to the manufacture of 20,000 systems
over the next 90 to 120 days. This will allow us to fill our
backorders, along with new orders generated by SkyMall. "
http://www.seaview.com/050101.htm
The backlog should have been filled by now and we should be on our way with the next 20K
mass production. Using the 55% gross profit calculations from our most recent quarter, can we
assume that 20K secureviews selling at $200 each should yield somewhere in the
neighborhood of $2 million in GROSS PROFIT? What will total revenues be? $4 - $5 million?
JMO,
Doug
Try this link for update on Dan's dive.
http://www.austin360.com/aas/metro/diver/diverupdates.html
Hag - Nothing new that I've heard. EOM
If you missed the 6:00 PM KEYE webcast
Try again at 10:00 PM. It was a short spot at about 10 minutes into the news cast. No mention of the camera, but Dan did show how it would be fitted to his hand for the dive.
Unfortunately, heavy rains in the area have caused the water in the diving area to become cloudy. A lot of spring waters flow into the river so maybe it will clear up by tomorrow.
Good Luck Dan!
Check out Dan on KEYE Webcast...
Just saw the news and Diver Dan will be shown on the 6:00 PM news which is also webcast at
http://keye.com/netcast/
If you have a fast connection and nothing else to do, check it out. Starts in about 10 minutes. Sorry for short notice, I just got wind of it a while ago.
Moron - I don't doubt the merits of the EDI business model. I hope that SeaView is using it just as you describe. Q3 will be the defining moment in this company. Anything short of spectaculor and I'm out.
We've been told that Q2 revenues were minimal due to the fact that shipment of the backlog didn't start until late in the quarter (early June is what we were told). Well, we can't use that excuse for this quarter.
Remember this:
"We have committed to the manufacture of 20,000 systems
over the next 90 to 120 days. This will allow us to fill our
backorders, along with new orders generated by SkyMall. "
http://www.seaview.com/050101.htm
The backlog should have been filled by now and we should be on our way with the next 20K mass production. Using the 55% gross profit calculations from our most recent quarter, can we assume that 20K secureviews selling at $200 each should yield somewhere in the neighborhood of $2 million in GROSS PROFIT? What will total revenues be? $4 - $5 million?
JMO,
Doug
Moron/DK/whoever...
It's hard to know who's who around here anymore.
I'm very concerned about SeaView production capability. We've been waiting for over a year now to get production ramped up. But is there a demand for the product as we've been led to believe? Why can't we know whether or not mass production is in progress? I don't buy this non-sense that releasing such information would tip your hand to your competitors. We've been told over and over again that we are in a class all our own. We have vitually no competition.
I suspect we have virtually no product. That's why retail stores are unable keep the cameras in stock. IMO, McBride's previous business dealings have so damaged SeaView's reputation, no one wants to do business with them. So we end up with a lot of PR but very little business.
If the business model you described is being used, it's only because we aren't producing enough product. If we aren't producing enough product, it's because we don't have adequate funding. If we don't have adequate funding (despite the PP), it's because of a mis-management of funds. Can we not afford to build an inventory? Or, will no one provide parts or services to SeaView unless paid in advance? Sounds like the Chicken or Egg thing.
As a shareholder, I demand that management give us better progress reports on OUR company.
PS for McBride - Please stop posting on message boards. You sound like some spoiled brat trying to defend your worthless credibility. You have lied to us shareholders and I suspect you have lied to many others in your business dealings. Trying to "patch things up" on these chat boards makes you look foolish...
All this and more are JMO...
Doug
What's going on SEAVIEW???
We thought we could see light at the end of the tunnel. It turns out to be a train headed right for us.
Is McBride and the new management team putting the wood to us shareholders?
from the 10Q:
7. PRIVATE PLACEMENT CAPITAL OFFERING
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. Proceeds from the
offering are being used to fund operations of the Company.
Looks like the new management is in on the act now. 10 cents a share??? TEN CENTS??? And not even pay for it when you get it??? Is this legal??? Run the stock down and then purchase it back at 10 cents???
and this from the 10Q:
8. TREASURY STOCK
During the year ended December 31, 2000, the Company accepted several
non-interest bearing notes from a former officer of the Company, with a balance
of $512,757 at December 31, 2000. The notes were secured by 6.5 million shares
of company stock. During the six months ended June 30, 2001 $235,000 of the
balance was repaid in cash. The remaining balance of $277,757 was repaid through
the return of 353,575 shares of the Company's common stock to the Company's
treasury.
McBride borrowed over half a million and only paid back $235,000??? The rest was paid back with shares at .785 cents per share??? Is this legal???
Keep us informed FG. I would like to stay on top of this.
After a long leave of absence...
from this board, I come back and I still see non-investors (that would be you print01) of SEVU bashing Rich McBride and the company. I thought this was Investor's Hub Matt? Why do we continue to let bashers repeat the same message over and over again. Along with all the spam too? I have made my thoughts about Rich and the products be known to this board, but I don't make an occupation of it one way or the other. Speak your piece and move on...
I suppose I'll check out again for another few months until IHUB can allow this to be an investor's place for communication and idea sharing. Oh, I don't mind the hard truth to be brought out, but this mindless dribble coming from NON-INVESTORS should be done on raging BS.
What about Matt? How about an ignore feature if nothing else?
By the way, I still have my original investment in SEVU. I haven't lost any money in this investment. I might even add to my position if the right news comes out. Until then, I'm holding and watching.
This will most likely be my last post on IHUB...
Looks like Matt has failed in his attempt to bring a quality product for the long community. SeaHag and F+G have done a good job in trying to keep the board civil, but when the administrators of the boards start up with their bashing, it's time to leave. We don't need the short selling bashers to point out the obvious flaws of SEVU. The longs on this board do a pretty good job of it. On a quality board, the flaws are examined and discussed; then we move on to other topics.
Bashers love to dwell on the negatives and a certain new IHUB administrator has already chimmed in. BTW, X-10 technology is a toy compared to secureview.
Best of luck to all longs who want to stay and put up with the BS IHUB is about to encounter as the welcome matt is laid out for the SSB's.
Doug
TAfirehawk, I have no gripe with current management team at this point. I do have a concern that Rich is still running the show and the new management team are just puppets for him. Look at the PR's and the message from the CEO. They have a similar pattern that Rich used to lie to us.
What guarantee do we have that the lying is over with?
Shucks, I ain't mad...
"Net revenue increased 10% from $1.0 million for the year ended December 31, 1999 to $1.1 million for the year
ended December 31, 2000."
At this rate, we'll be at $168,000,000 in no time!
Rich McBride, you lied to us!!!!!
How much more of your fluffed up PR's were a lie? Come out and face the shareholders who stood by you while you made fools of all of us. I'm so glad not to be a part of your scheme any longer!
You are one very disgusting individual to continue coming on this board talking about the future of SeaView all the while knowing that this 10K was going to slap us in the face.
WHAT DO YOU HAVE TO SAY FOR YOURSELF?
Don't you just wish that....
Printmail01 and RLM would just go get snot slingin drunk together and then have a pissin match in the bay?
Here we go again....
McBride speaks, now watch the price drop!
Here's why:
"The new underwater camera will be available in May"
Would that be May of this year?
"The plan would be to add this new camera board, making all SecureView Cameras full color, plus B&W infra-red."
Sounds like a plan to me... Thanks for sharing what might happen...
"I will be off to Taiwan later this month. I cannot comment on this project at this time"
Can't comment huh? I believe you just did!
"Production on the SecureView camera is starting to look good with increased volume every week"
Hmmm... increased volume... I suppose you can't comment on what the volume is?
Thanks for sharing a whole lot of nothing and feeding the bashers with more ammo...
Rich, Some of us would just like to see you stop posting on the message boards and the SeaView Web page. We know what a great inventor you are. We also know that you are a great marketing person. It's your words which have caused so much damage in the past that, IMO, we would be better served if you stay away from making statements in these public forums.
So when I say PLEASE GO AWAY, what I'm asking, is for you to stop posting here are any other message board or web page. I'm not aware of anyone who would like to see you leave SeaView altogether.
I once was a big admirer of yours and now I'm a bit bewildered. The latest debacle with discrepancies in the books was the last straw for me. Too many times your words have been used against you. For the most part unjustly so. But, on occaison the attacks were well founded. Yet you continue to make statements which leave you and SeaView open to more abuse. Why do you do this?
Of course this is your business and you can do with it as you please. Be it good for the company or not. I'm just a stock holder which got caught up in your enthusiasm and aspirations. I have a sizeable amount invested in SeaView and nothing would please me more than to see some news about Shipments which HAVE occurred or Production which IS/HAS occurred. Even news of a sizeable SIGNED PO would be good. The words "next week" leave a bad taste in my mouth.
I'm through rambling now. It's not my intent to sound like a basher but I'm tired of words without action. I have been silent about many things in the past which I will not bring up at this time. But as Rich says "Perhaps its time for many of you to reconsider your investment." and that is exactly what I'm doing.
Brettin,
When I first started investing in SeaView about a year ago I told myself I would re-evaluate after 1 year. This is my re-evaluation period. Last week I was feeling pretty good. This accounting thing has really set me off. RLM had to have cooked the books in order for this statement to have been made:
"While the Company has not yet determined the full extent of the inaccuracies, it is believed they are likely to materially affect the Company's revenues and, consequently, its income, assets, and equity for the reported periods, and the subsequent year-end statement."
http://biz.yahoo.com/e/010319/sevu.ob.html
I can tolerate a lot of things but this isn't one of them. Then the CEO response which looks and smells like a "Rich" response. That little Q&A thing at the end has "Rich" written all over it.
http://sevu.com/ceomsg.htm
How often will we be hearing about this Taiwan deal? Either tell us it's happened or shut up about it. Why is it okay to detail all the speculation but taboo to talk about current production and sales. I can't objectively evaluate my investment without some solid information. And now that the books are inaccurate, we don't even have that!
My emotions are what initially got me in, the products have kept me around, and now the hard facts will either keep me here are drive me out.
TWO WEEKS!
MadHat, I'm with you on this one...
Either we see something positve that HAS HAPPENED in the next two weeks or I'm outta here. The steady stream of bad news since December seems to be never ending. The statement by the new CEO looked like something Rich would put out.
I don't want to hear from Rich ever again! He has misled us with his PR's, embarrased us with some of his View's from the Bridge, and he continues to post on these boards. Now we have accounting problems? Give us a break! I don't want his posts to be echoed on the website as R&D talk either. Go away Rich! PLEASE... I can no longer defend your actions or your words. Your credibility is shot so quit trying to redeem yourself and just go away.
So, how much are we shipping? How much are we producing? And don't give us that line about keeping the information confidential so we don't tip the competition. Right now our competition is the least of our worries. Give us some numbers so we can evaluate the situation for ourselves.
TWO WEEKS!
Hey FrankNG....
What if they said a PR is coming out next month. Is that illegal in your book too?
Me thinks that NG tell only half truth sometimes to continue his attack on SeaView.
Me also thinks that NG is worried about his short position.
JMO...
tradequity4profit... I agree that we need to see some concrete production and sales figures. Let's give the new management team a chance to get the job done. This could take a few months. Be patient.
Nice to see our products finally available through GSA via NTMI at the following URL...
http://www.8amall.com/cgi-bin/ncommerce3/ExecMacro/ol8a/macro/search.d2w/input?showVality=TRUE&m...
Enter "SecureView" in the search criteria field Product Name/Description and press the Search button.
My only question is how much of a wait is there if you buy one of the products?
Sure would like to know how many cameras have shipped this quarter so far. It appears that SeaView is winding up like a spring and is getting ready to jump but of course that's been my thought for about 7 months now.
FG and Others...
Thanks for your replys and input.
Matt or IHUB Admin and FG....
Just wanted to thank you guys for bringing us this board. It was such a fresh of breath air to escape RB and SI. As of late, this board has deteriorated to the point that I no longer find the discussion interesting. I think it was SeaHag that tried to organize a boycott of the RB type posters and was shunned for doing so. That's too bad. Others have have been asking for an ignore button. I don't think an ignore button is needed. What we need is to get rid of the unwanted posters. Discrimination you say? Yep! That's what we need here. Take those posters who have to be right on the edge all the time and get rid of them. These folks are here to strictly play games and distort facts about our investment. That's not why I came to IHUB.
I will continue to check in with IHUB from time to time but it is slowly but surely becoming another RB type board. Either clean it up or I for one will be outta here. Does anyone else feel the same way?
Doug
Once again the attack is on Rich and not the products.
All of this is old news. Most likely inspired by A@P operatives. Can't find anything new so they keep beating the same old drum.
Relax Crookk....
I did receive a PM on the issue. I know this question would cause some rumbling and I suspected most of the rumbling would come from you. It's obvious to this board what your intentions are. I also noted that someone posted it on RB which is why many here are reluctant to ask many of the hard questions in a message board format. My intentions are not to hurt the company. I just want Rich to know that I am watching everything that gets posted publicly (either in a PR or these message boards) and I will continue to demand that Rich either be silent or follow through on his statements.
Nuff said!
Can someone who attended open house explain this?
From a "View" data 01/22/01
http://www.seaview.com/wheel25.htm
"I will also be disclosing new information and this will be
released after the meeting via an official press release. I think
you will find it very interesting! The reason for this open house
is to let everyone have a chance to see for themselves, ask
questions and reach their own conclusions."
What was the new info being disclosed? The PR after the OH didn't seem to have anything new except for the 1 million restricted shares paid to Rich for SeaView ownership of some patents. Was that disclosed at the OH? The PR was supposed to have some clarification on purchase of the Springs also. Did I miss some information somewhere?
Rich - Please stop saying things unless you intend to followup! I have faith in the products, but SeaView management is suffering from credibility problems. Get it right or find someone who can.
IR Floodlight has always been $199...
It's relatively new.
Rich...
Did you forget something in that PR or did I miss something?
You will have the simple answer in today’s PR about the Springs.
Not that I'm worried about the Springs investment since I think we all know the answer, but you did state there would be something about the Springs purchase in this PR, did you not?
Just added more shares....
I wasn't going to add anymore shares but at this price I couldn't help myself. There are still a lot of questions about the CEO but no ones seems to be questioning the PRODUCTS! It's the products that will make this company grow. Our CEO will only regulate the speed at which it grows.
Too bad Bill B. decided to dump all over us after his exit. I'm sure A@P thanks you. Perhaps you should contact him for an interview so you can recoup some of your loses.
BTW, where is the list of questions that were compiled? Did all the questions get asked? Did all questions get answered?
Many thanks to all that attended and posted here. All sides of the issues are welcomed.