The article makes some interesting claims. We all know that Rich et al have been known to estimate high, change direction mid-stream, release vague PRs, etc. Some of this may be attributed to enthusiasm, naivety, or any of a number of factors. Many of the claims on both sides are somewhat subjective, but I just did a quick sample to test the validity of a tangible claim made in today's report.
The article claims that "Out of the 700 "alleged" retailers of the Underwater marine camera http://www.sevu.com/dealers.htm, only 175 are listed on their site...". I followed the enclosed link and it took me to the first page of the alphabetical listing of dealers on the SEVU website. I counted approximately 135 dealers on that page, before it ended with Delaware. I then opened the page for dealers in Florida (I was continuing on with the alphabetical order). Florida ALONE shows approximately 197 dealers. That puts the Domestic count at 332 when counted alphabetically A-F. This does not include international locations. I see no point in continuing the count.
That being said, I am VERY concerned about the future of this investment. Regardless of whether it's justified, legal, or otherwise, the fact is that the stock price has fallen like a rock. I don't care if the company should be worth more or not, if I can't sell for more than $2.50 per share, then that's all it's worth.
The next couple of days could be very interesting. If the company is capable of defending their position well enough to overcome this, I'll consider keeping my stock. It has been suggested that an AMEX announcement may be lost or perhaps carry less impact during the Holidays. I submit that today's activity indicates otherwise.
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