Come on Bigbiz, tell us you're not serious. SEVU isn't offering a cure for cancer. They make a simple consumer electronic product that was developed and tested long ago. We reluctantly accepted far too many excuses for delays in availability, but if we can believe anything current or previous management says is true, it was ready for large scale manufacturing a year ago and they had vendors in place to meet the demand. Even if we don't listen to anything the company says, I received one last September(?), so I know the product exists and works. What has happened since then? We simply don't know, but at least for me, I'm not buying the "it takes a long time to bring a new product to market" BS. I don't know what Cabos, yourself, or others know about bringing new products to market, but I have a pretty good idea, and SEVU flat out hasn't delivered. There may be a number of reasons, not limited to, but probably including some or all of the following: poor quality, insufficient demand, inadequate management, priced too high, not enough money to enable SEVU to produce (includes poor credit), competition, component shortages, Legal barriers, etc.
As for product "testing" by retailers like Wal-Mart, Target, etc., there are two issues here. The bread and butter product was supposed to be the SecureView consumer product. That product does not require extensive testing. In fact, the decision to put it on the shelves may even be made by an entry level Buyer who is making $30K/year, and may not even be tested or actually seen by whomever makes the decision. Do you think someone at Costco reads every book sold at their stores or tests every CD player they offer? Costco even tested the market by offering it in their B2B catalog (Costco Connection). We don't know how well it sold, but logic would suggest that if it sold well, the product would be available on the shelves by now (6 months later).
The other product is the Parking Lot SecureView. Once again, this isn't a complex product, and the technology was reportedly final long ago. This isn't something with a bunch of moving parts or lines of programming code. You hook it up and either it works or it doesn't. The same scenarios apply to the commercial grade product as the suggestions for the consumer SecureView listed above.
The most recent excuse was that a "major partner", whom many assume to be RCA, wanted an exclusive deal but it didn't materialize for whatever reason. I don't recall the details, but I think the company said that dissolved months ago (January?). This is mid May. If there's no exclusive agreement, where is the product available today?
For whatever reason, the company still appears to be in business, so it seems as though someone inside knows the facts and believes that they have the potential to salvage this thing. Either that, or they're just stupid. As an investor from the outside, however, in light of their history and verifiable facts (i.e. the product isn't available in stores), I'd need a pretty good explanation or verifiable news before I'll buy back in.
