from SEVU website:
CEO Statement 5-1-01
It has now been 10 short weeks since Rich and the Board
expanded the SeaView team by bringing aboard Mike and
Doug to join me. With the filing of the amended 10-K, we can
truly say the year 2000 is behind us and we can focus, as I
have said before, on selling product, manufacturing product,
and shipping product. But before we put away the year 2000
in the SeaView history book, I would like to highlight a few
items.
First, even while developing the new product SecureView,
managing the AMEX application and review process,
developing key US and Taiwan government relationships, and
managing the myriad of processes and issues that a publicly
traded company must follow, SeaView produced a sales gain
of 10%. Having a sales history is a very important issue when
courting the buyers at the major retailers. And, I should know
that fact.
Further, and even more importantly, we are essentially a debt
free company. I re-emphasize "No Debt". I would venture a
guess that many of us would like to be in that enviable
position with our personal finances.
Finally, there is a "laundry list" of items that were
accomplished in 2000, although many produced an intangible
profit that may not have been totally realized on our financial
bottom line to date. These include hiring a national
spokesperson, continued advertising and publicity for the
SeaView and SecureView brands, acquiring initial orders for
SecureView, and developing an infrastructure plan for future
growth. While the results may not have met some
expectations, they are in fact part of the past as SeaView is
now poised to explode into the future.
We know the financial community and our shareholders
expect us to execute the simple business axiom of producing
sales and profit. Put in even more simple terms: sell,
manufacture and ship. While these words are simply said, the
successful execution takes time, patience and effort. And, I
can assure you, everyone involved with SeaView is working
feverishly to achieve results. From the market segmentation
plan in our 10-K, you can easily see the roadmap for our
selling team. West Marine and The Sports Authority are just
the beginning, as we have been meeting and planning with
several of the other companies named in our plan. And again,
they all love the product. It just takes time, patience and effort
to work with these buying organizations--to put the best
merchandise mix in place within each buyer’s open-to-buy
availability, to complete the logistical paperwork, to develop
the store presentation and plan-o-grams, and to accomplish
the communication of product knowledge to the retailer’s
store personnel.
From the selling team's efforts, we are able to plan production
and manufacture product. We have been manufacturing
SeaView marine products regularly and on-time. And, after
many unforeseen delays, we are producing SecureView
components and systems through our outside contractors.
We have commited to the manufacture of 20,000 systems
over the next several months. This will allow us to fill our
backorders, along with new orders generated by SkyMall.
Obviously, since we will now have the product, we will be
shipping it as efficiently and expeditiously as possible. Last
week, we shipped approximately $20,000 of SeaView marine
products to our dealers and customers. We also shipped
SecureView systems to SuperCircuits, Inc.,
SmartHome.com, View-It Security and JCPenney Loss
Prevention. Already, SuperCircuits, Inc. and View-It Security
are requesting additional quantities.
There is definitely a lot of selling, manufacturing and shipping
happening at SeaView. But that is not all. We are developing
other key business relationships to position SeaView for our
future financial growth. We have engaged Foley & Lardner,
one of the oldest [1842] and largest law firms in America, as
our counsel and advisor in corporate and securities matters.
In addition, we are actively pursuing and being courted by
"Big Five" auditing firms to represent us in the future.
Now that the amended 10-K, which also meets proxy
statement requirements, has been filed, we will be finalizing
the mailing of annual meeting notices and planning for the
meeting sometime in June. In addition, the team is developing
realistic financial projections for 2001 and beyond, which we
will share with you soon. Time, patience and effort will prevail
in vaulting SeaView into the future. Everybody’s seeing it!
