The good, the bad, and the ugly.
The 3rd Q numbers are not good. I can read just like everyone else here and was initially depressed with the PR. I would like to bring up a major point here that some of you may have overlooked. I am not ready to throw in the towel here and this is why:
SEVU recently began a full market push with the on-line sales with Internet retailers: www.mvp.com; www.bluelight.com; www.thesportsauthority.com; www.sportchalet.com; www.dunhamssports.com; www.mcsports.com; www.oshmans.com; www.buy.com; www.foxsports.com; www.iqvcsports.com; www.fogdog.com; www.gijoes.com; www.dickssportinggoods.com; www.gartsports.com; www.sportmart.com; www.boatingchannel.com.
The release of the seamaster UW cam with color and 2X capability just began late last month.
My point??
ALL OF THIS OCCURRED AFTER THE CLOSE OF THE THIRD Q!
This is what I believed happened. The SEVU team knew the 3rd Q sales numbers were not going good. More money was needed for either production or operations and a full scale push was needed to get the product out. A private placement was done to raise operating funds and some major changes have obviously been made to limit expenses.
IN ALL FAIRNESS, George has only been flying solo with the company since October 7th, when Rich passed away. AGAIN ALL OF THIS WAS AFTER THE END OF THE THIRD Q. I am not ready to throw in the towel due to a bad 3rd Q when some many positive advances have happened since then.
The 4th Q will make or break SEVU IMHO. George is in sole control of the company, the internet sales site are in full swing, the seamaster is out, and the PP should have raised enough funds to supply any potential demand. This is also the Christmas season where sales typically surge.
If the 4th Q sales do not drastically improve and the secureview is not selling with all this new on-line internet exposure, then I may be ready to admit defeat. Until then, I have seen some very positive changes with a new CEO and will wait for the end of the 4th Q to pass judgement.
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Diverdan ><>
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