SEVU Insiders/CEO BUYING 100,000 shares....
SeaView Joining HomePlug, Filling Backorders...
ST. PETERSBURG, Fla.--(BUSINESS WIRE)--May 11, 2001--SeaView Video
Technology, Inc. (OTCBB:SEVU) (www.sevu.com) announced today that the
Company has been accepted for membership in the HomePlug Powerline
Alliance, Inc. According to VP J. R. Cox, a memo from HomePlug, Inc.
stated, "We are pleased to acknowledge that the HomePlug Powerline
Alliance, Inc. (HomePlug) has received your application for
membership. The organization recognizes your valuable input and
support, and we look forward to your participation." SeaView's
membership in this alliance will allow "significant interaction," Cox
said, with such key sponsors of HomePlug, Inc. as Motorola, Cisco
Systems, Inc. and Panasonic.
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.
SeaView marine sales continue briskly as the Spring Fling pricing
promotion ended April 30, 2001 for SeaView's 700-plus independent
dealers. Christy Mutlu, VP Sales & Marketing, said: "To keep the
momentum going, we announced and launched a Dealer Summer Sales
Contest, with one lucky dealer winning a trip to Walt Disney World in
Orlando, FL."
The R&D team has responded to several requests for utilizing
SecureView cameras for parking-lot surveillance. The inquiries
followed the recent report by CBS-TV's "60 Minutes" on security
problems outside stores and malls. The SecureView camera is placed on
parking-lot light poles, transmitting video back inside the store via
the existing electrical wiring. The wide-angle cameras replicate a
standard PAR-38 floodlight, and will have a signal range of up to
one-half mile. Costing dramatically less than other CCTV systems,
SecureView installations are quickly achieved without additional
wiring. Maintenance is also simpler, since local electrical
contractors can replace the units instantly, simply by screwing in
another "bulb." The number of cameras deployed is limited only by the
monitoring equipment. Current designs, accommodating up to 32 cameras,
store the information digitally on a hard disk.
Rich McBride, company founder, and George S. Bernardich III, CEO,
recently purchased over 100,000 shares of SEVU common stock on the
open market, reinforcing their confidence in the growth and success of
the company.
ABOUT SEAVIEW VIDEO TECHNOLOGY INC.
SeaView Video Technology, Inc. manufactures, distributes, and
sells marine, medical, and security-related video camera equipment.
They are the largest manufacturer of Infrared Underwater Camera
Systems. SecureView, the Company's innovative "camera in a light
bulb," incorporates proprietary IRFS(tm) technology to transmit live
video through the electrical wiring of any home, office, or building.
SecureView installs and sets up quickly and simply, eliminating
expensive installation costs, drilling and cables. SecureView DC(tm)
uses the same principles to transmit live video through the electrical
systems of vehicles, trucks, buses, ships, and railway rolling stock.
A version of IRFS capable of LAN/WAN data transmission over power
lines has also been introduced. The Company's marine and security
products are GSA listed. Its technology is covered under 14 patents
granted and two patents pending.
SeaView trades under the OTC BB symbol SEVU.
website: www.sevu.com
email: info@sevu.com
THIS PRESS RELEASE contains certain forward-looking statements
within the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, which
are intended to be covered by the safe harbors created thereby.
Investors are cautioned that all forward-looking statements involve
risks and uncertainties, including, without limitation, the ability of
SeaView Video Technology Inc. to accomplish its stated plan of
business. Although SeaView Video Technology Inc. believes that the
assumptions underlying the forward-looking statements contained herein
are reasonable, any of the assumptions could be inaccurate, and,
therefore, there can be no assurance that the forward-looking
statements included in this press release will prove to be accurate.
In light of the significant uncertainties inherent in the
forward-looking statements included herein, the inclusion of such
information should not be regarded as a representation by SeaView
Video Technology Inc. or any other person that the objectives and
plans of SeaView Video Technology Inc. will be achieved.
--30--cp/mi*
CONTACT: SeaView Video Technology, Inc., St. Petersburg
J R Cox, 727/866-3660
email: info@sevu.com |
