Checking in with my thoughts:
A divergence of opinion between Anthony and Mcbride would be the understatement of the year. McBride claiming "The Company will roll into 2001 with a backlog of orders totaling over $9-Million. . . All the parts for mass production are underway. . . for a major production run at the first of the year" and close to finalizing an 80 million deal with Taiwan. A&P claiming that sales are insignificant - that their products are "junk".
The difference here is so immense and the time frame so small - do I want to wait and see who is right? Well, if the stock price were 25, maybe not, but at 2? I think I do. Shouldn't take long for the basic truth to be revealed.
I think we can all agree, that it is quite possible, when going over a large amount of information, to pick and chose things, which, out of context, appear quite alarming. The truth is probably somewhere in between. I noted that the vendor agreement with JCP and Radio Shack PR's were not attacked and I think that is significant. I also noted that he didn't attack the PR which reported that last quarter Marine Division sales were up 410%. I have a good feeling about the Marine Division.
The Logis-Tech piece: Seems to be that the July 6, 2000 letter from Bounds re: Business Estimate is very positive - estimating 2001 sales to be in the $10,000,000 range, that is before Taiwan. This followed by the August 15 email from Travis at Logis Tech re Taiwan, confirming that there was a demonstration that went extremely well. That seems very inconsistent with the A@P "When Mr Rash was asked, Did Logis-Tech make any presentations to Taiwanese officials of SEVU products he responded by saying, "No we did not ", We know that, at the very least, there was a Taiwan presentation by Logis-tech and that the response was favorable. The July 6 letter from Logis-Tech seems very inconsistent with SEVU's products as "junk".
The May 2 PR re: SEVU about supplying SecureView cameras, infra-red floodlights, and CPU control systems to the 7th ARMCOR Division in Europe. The A@P report "not a single camera was ever bought or sold . . ", but nothing about whether are not there is an agreement, and whether or not sales will begin next year as Rich says.
The GSA piece, nothing here about NTMI being listed on GSA. As the A@P report says, NTMI does offer SecureView cameras to their customers, who are mainly government agencies. My hunch is that SecureView will be offered via NTMI on GSA and that sales have been minimal up to this point. That is my speculation. I don't know. I believe that Francois is looking into this.
The "Misleading PR" is more a more complex and troublesome issue to me. My sense is that there are no blatant lies here, but some blurring of the distinction between - we can do this, we will do this - I have been advised that we will do this - we are in the process of doing this, (and) this is a done deal, signed and delivered. It also seems that when plans changed, there was not always a PR advising the investment community to that effect, with the exception of Taiwan and revenue projections.
AMEX is a the most troubling for me given Riches 12/19 statement "I have also been reassured that it will not have an effect on our potential move to the AMEX" I believe it may be true that he was advised by Spear, et al that the A@P report, in and of itself - if proven untrue - would not affect AMEX. I do also believe, however, that when the stock price dipped below (especially 2) and with the A@P controversy unresolved, that AMEX withdrawal was a fait accompli and the 12/19 statement gave the impression otherwise. From Rich's point of view, he may have been thinking that the sales and strength of the company would pull them through, if not this year, then next. Thus, any positive statement about AMEX was technically true from his point of view. I have never met nor spoken with Rich, so this is just my speculation
I don't plan on selling Tuesday - I notice that A@P was really hammering away yesterday - perhaps a short covering dream come true, to cover during panic selling on Tuesday. If that happens, there could be a short covering bounce after the initial sell off.
The above are, of course, just my speculations, I have no insider information at all, I've never taken a course in finance, never been to SEVU, and if anything I have written is factually incorrect, I invite fellow posters to correct. On Tuesday I will not be buying or selling. I plan on waiting around for all the cards to be shown.
Should be an interesting period leading up to the stockholders meeting.
Best wishes and Happy Holidays to all. Prox.
AI
