Regarding Arch Cook: from Rich McBride
This is one of those letters that I must do, but it is one of the few things in this job that depresses me. I have watched Arch Cook suffering with problems over the last 6 months. We allowed him to come in late and nap during the day. His audio interview was not damaging to the company. I will state point by point the answers to the hearsay and innuendo statements. To his credit, Archie the salesman was still pointing out positive facts about the products.
His concerns are for his beautiful little grandchild and a son who has brainwashed him.
Arch was one of the first salespeople to join Team SeaView. We are talking about a true relationship here, where I called Arch "Dad" and he referred to me as "son" when we traveled together. Just ask him.
We had been aware for sometime that leaks and misinformation were flowing out. I did not take the advice of my advisers and friends; there are some things you just refuse to believe.
There is so much here to dispel I’m going to take it by priority.
Revenue: We are a cash-in cash-out company. We floor plan dealers who qualify for our products, much in the same way Ford Motor Company does. I have stated quite clearly to everyone that SecureView orders are orders, and need to be shipped to get revenue.
Production: We did run behind in delivery of SeaView Cameras in the beginning. Dealers who ordered more than several cameras were shipped one and then the balance of the orders later.
Manufacturing: We do not build the circuit boards or CCD cameras, and NEVER HAVE. Several companies have been making bulk runs of the Marine Products and assembling for over two years. We could never make enough! SecureView is the same arrangement. We do assemble products here, to supplement demand for items made by our outside vendors. For example, to help with delays we will probably assemble 200 SecureViews in our shop in the next few weeks.
Pump & Dump: These are easy words to say. I have not sold a single share. Everyone at the meeting saw my certificates. I think you need to sell to accomplish the dump part.
Money: My money is my own, and the property I own is not paid for by SeaView! It is simple to look at the financials and see that the company has not bought any such things, and could not afford to. It is also no one's business. It just makes good press!
Retail Contracts: The company is constantly in touch with many big name retailers. If contracts are awarded it will be made known via a National PR release. It must be obvious to everyone that Arch has a hearing problem. He is confused and unfocused in the interview.
Changing numbers on financial reports:
This involves something all businesses go through. What Arch is talking about is my clarifying various payments and to what category to assign them. Marcy struggling with balancing the numbers is not a new problem; ask any bookkeeper. The banks and Credit Card companies are involved. Have you ever had a problem balancing your checkbook?
I NEVER TOLD OR ORDERED employees not to sell their stock. When the shorting activity was at its maximum, I did ask them to consider not filing. We felt employees listing to sell was not good, even though it does not mean they are selling. Arch thought and stated in front of all of us that this made sense and he was a Team Player.
Miscellany: Arch was never involved in Corporate Business or affairs. He would not have any idea what was involved with The American Stock Exchange. I withdrew; it’s a matter of record. I HAVE NEVER HAD A PHONE CONVERSATION WITH THE S.E.C., period! Ask them!
Most of the other mistakes he made were obvious. I’m sure you all could hear he had no clue what he was talking about most of the time. How sad this must be for his family.
It was also sickening to hear Anthony pushing him and leading him on. Tony, you must have no conscience, to do the things you do. Come after me or the company, but leave this fine man alone.
Thanks, Arch, for remembering and stating for all to hear that it is not the money. It is for the employees, and for my partners the stockholders in the company, that I work so hard. Yes, I gain satisfaction from success, and an ego boost.
I do miss the loss of our friendship.
Rich
