Re: SEVT's S-3 SEC Filing
I find the last sentence in the excerpt from the filing most interesting:
" . . . PAGE< 4
SUMMARY
THE COMPANY. Our company, Summit Environmental Corporation, Inc., markets
products manufactured for us by unaffiliated companies. We either own the patent
and other intellectual property rights to our products, or we have licenses from
the owners of the intellectual property rights to our products.
Our principal product is a non-toxic, biodegradable fire suppressant,
called FIREPOWER 911(TM) or FLAMEOUT(R), depending on the strength of certain of
the active ingredients in the product and on the intended usage of the fire
suppressant.
We also market several industrial cleaners, the principal one being
ULTIMATE CLEAN 668(TM), a non-toxic, biodegradable turbine cleaner for use on
jet engines.
We have directed our efforts since December 1997
o to organizing and financing our company,
o to clearing our products with governmental regulatory authorities and
listing them with Underwriter Laboratories,
o to entering into strategic alliances with other marketing companies
and into product approval contracts with retailers, and
o to obtaining inventories of our products.
We are now poised to commence selling our products in significant commercial
quantities. We believe our products are superior to those of our competitors and
will be accepted by consumers of these types of products. . ."
IMHO the last sentence is our rocket launcher. Yes, four shareholders have filed to sell over 300,000 shares (combined), but so what and good for them.
I commend the Parkers for holding the lid on the number of common shares issued and that they have not issued any preferred shares, as allowed.
There is a statement in the filing referring to no planned dividends to allow as much as necessary company investment back into the company. I do believe however that there will eventually be sufficient sales to warrant a dividend.
Good luck to all Longs!
