Nobusiness and TA,
When one calms down a bit as a number of us have suggested I think things will sort out closer to the ideas TA touched on and the numbers "nobusiness" has taken a shot at with respect to financing. Like it or not the subsequent events of over enthusiasm, the SEC poking around, and the current class action activity coupled with the need to get an apparent great new product launched and production set up to meet potential requirements have caused a great deal of economic teeth nashing at SEVU. Think of the alternatives to keep heads above water - doubt if a lot of Prime Plus 2 Points type lending is available to our company to ensure that the doors stay open to see the production begin and break-even revenue appear, followed by the profits we envision. If you've worked with VCs - you know how expensive AND controlling they can be - if not ask folks who know - so another dead end. Personnally I would like to have had a chance at .10 shares, although the market was down to about .20+ not long ago and I personnally couldn't take but a little piece .. so maybe a tough option ... maybe not even be legal with out months of work and lawyers fees. Would like the answer with supporting facts here...??
So if money was needed and will be obtained immediately or on a time frame that meets the years needs maybe it works as good as could be expected. I'm sure these will be restricted shares for at least a couple of years, maybe 3 like was suggest. We've all marveled in the past at SEVU being debt free, with low share counts, and an unbeatable product - let's assume there was a need for $$, let's look to management to clarify if possible questions, and most important let's view this from a business perspective rather than the name calling, bashing, etc. that has been going on in reaction to the 10Q. THis has become way to personnal for many - for first time visitors, it would be a challenge to understand what's going on.
It also may be necessary to be fair and separate the activity that had begun before George and the new staff took over completely from that that was in motion before that time. One such activity will likely be the loan/repayment activity. But I'd say that the PP is the responsibility of the current staff and may have been suitable and necessary to insure the companies future success. If all the holders of this restrictive stock have an oar in the water at or for SEVU then in the long run we will have to be successful for them to prosper - and that might benefit all longs over the next 24 months and beyond.
But if there are any shares still on the shelf for .10 please call me as I'm willing to shake the piggy bank again!!
Finally I still want to see the interesting posts by Rich McBride as there is always some truth to be learned and some spins to considered.
My thoughts,
zagdad
