Followers | 4 |
Posts | 198 |
Boards Moderated | 0 |
Alias Born | 12/28/2000 |
![](http://investorshub.advfn.com/images/default_ih_profile2_4848.jpg?cb=0)
Thursday, August 16, 2001 12:03:45 PM
http://www.investorshub.com/boards/read_msg.asp?message_id=125377
Posted by: Francois+Goelo
Date: 6/12/2001 12:28:27 AM (ET)
Post # of 10842
Short Report of my Visit to SEVU, June 2001...
1) Management...
http://www.investorshub.com/boards/read_msg.asp?message_id=124919
The main purpose of this visit, was to form an opinion of the new management, which is a VITAL part of any small enterprise, such as SEVU... I first met with CFO Doug Bauer, a focused and dedicated number cruncher, who seems to have been able to bring Credibility to the accounting process at SEVU, for a change... He has practically completed the transition from his previous Job to work full time with SEVU...
George Bernadich was the surprise, as I expected an older man... He seems to be in his forties and makes an excellent impression, as a well rounded CEO... Even though McBride's opinion is certainly valued, George is clearly running SEVU, together with Doug and the COO, whom I didn't meet, as he was "on the road"...
2) Credibility...
I spent a lot of time discussing means to restore some Credibility to SEVU, before the arrival of convincing Financial Results...In particular, I made it clear that any purchase of stock in the open Market by Management is a Bullish event that should be reported electronically to the SEC in the shortest possible time... Likewise, although the Private Placement may not require reporting, it should be done as a matter of fact in an 8K, without delay...
3) Product availability...
I believe that the production bottleneck issue has been resolved and that product availability can be scaled up fairly quickly to meet demand... Additional suppliers operating Internationally in low cost countries are being lined up, as well... I saw the picture provided by the new Camera Boards and the improvement in quality is incredible...
4) Expected Business for 2001...
The outstanding order Backlog is being processed and I gathered that around 60% of the $9 Million orders received last year should be salvaged... The Taiwanese order still appears to be a good possibility but the outfitting and maintenance of Security Cameras in the Parking areas of a number of major Retailers may have the biggest business potential...
It may take around 6 months for the major retailers already signed up to come on stream with products on their shelves, so direct selling will still be promoted in the meantime... In my view, total sales numbers for 2001 could range from $5 to $10 Million, depending on the date of closing of major deals and should ramp up substantially in 2002...
5) Conclusion...
I believe the worse is over for SEVU and that we should now get more good News than bad News and I am confident that the new management Team has a good chance to pull it off... I am not overly concerned by the Class Action Suit, as already one Attorney, Mr Piven has pulled off, according to an e-mail addressed to me and the action my never receive Class Action Status from a Judge, anyway...
The Products are definitely excellent, fit a market niche and a need, the management is very capable and seems to have sufficient funding to see its plans go through, so I'm CAUTIOUSLY Optimistic... The concentrated selling of large long positions with little or no cost basis and the accompanying Shorting should end sooner or later, allowing a long awaited rebound to take place...
6) Disclaimer: This is only the personal opinion of a potentially biased long - who has often been wrong before - not a recommendation and no responsibility is accepted for errors or omissions... Would-be investors should carry out extensive Due Diligence, be wary of posts on Message Boards and only invest what they can afford to lose...
JMHO, F. Goelo + + +
FEATURED Element79 Gold Corp. Announces Sale of 100% Interest in Elder Creek, North Mill Creek, and Elephant Projects to 1472886 B.C. Ltd. • Sep 9, 2024 9:34 AM
North Bay Resources Commences Gold Shipments, Fran Gold Project, British Columbia; Enters Taber Gold Mine JV, Sierra County, California • NBRI • Sep 9, 2024 9:15 AM
Simple Stock Loans Announces Unique Solutions For Investors Looking for Alternative Liquidity Amidst Recent Small Cap Rally Sep 6, 2024 9:30 AM
Reliant Coffee Debuts at #271 on the Inc. 5000 List of Fastest Growing Companies - Coffee Service Industry Disruptor Brews Up Exponential Growth Sep 5, 2024 11:51 AM
VAYK Confirms Receiving Revenue from First Airbnb Property with 1.4 Million Annual Revenue Goal • VAYK • Sep 4, 2024 9:34 AM
Mawson Finland Limited Expands Known Mineralized Zones at Rajapalot: New Lens Intercepts 21.75 m at 5.25 g/t Gold & 515 ppm Cobalt • MFL • Sep 4, 2024 9:02 AM