In all fairness Diverdan
From the May 11, 2001 Press release:
"As SecureView production and fulfillment continues to ramp up, the Company is re-confirming the $9 million in backorders with customers and dealers, to process for shipping. ``In the last four days, we have shipped $40,034 in SecureView credit card orders. Also, we have already received reorders from SuperCircuits, Inc. and View-It Security of Arizona. SecureView systems are now listed and published in SuperCircuits, Inc. catalogs,'' said George S. Bernardich III, CEO."
Numbers don't lie, people do.
I really did not expect great sales from the Internet sites. People buy products on the Internet they are familiar with. I've stated this many moons ago on this thread. I was hopeful that the ads in Readers Digest and Popular Science, etc. would generate sales in the 1000's. But they did not.
The filling back orders from nine million in sales is a crock. No doubt about it. If it were real they would have captured at least 15% of the initial sales. The company is pennyless and cannot sell it's product. Heck, my kid nephew has more $ in the bank than SEVU. Since they have no revenue to speak of, dilution or massive debt is occuring and will occur in the near future. I'm sure most investors were reasonably hopeful that SEVU was selling enough product to meet expenses and have cash to produce more product. That's how a business is built. That is what SEVU management was counting on, but it failed. Here, the business is being cannablized from within.
The idea that SEVU will come to market in any traditional sense is now over. Welcome to the OTCBB hell. Too bad.
Just a note to the board. I'm not selling my stock cause I still believe in the product and believe it will be popular with the public. The only problem is getting them to see it. I will not buy anymore shares unless it dips down into the .30's again. ha!
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