S.W, BULLISH SEVU NEWS: SeaView 2nd Quarter Sales Up 410 Percent From 1999...
ST. PETERSBURG, Fla., July 24 /PRNewswire/ -- SeaView Video Technology
Inc. (OTC Bulletin Board: SEVU) (website: www.sevu.com) today released
preliminary 2nd Quarter gross sales estimates totaling $1,496,518.79, an
increase of 410% compared with Q2 1999 ($364,729.00). "Having product in the
retail arena has paid off," stated Dan Mehosky, senior VP. "We're continuing
a massive increase in Marine Division production to eliminate backorders,
which are currently averaging about 800 units on a 2-week cycle."
The Company's SecureView product is now being built entirely in its own
housing of proprietary parts. "This is what we've been waiting for," said CEO
Rich McBride. "To watch a year and a half of work come together -- perfectly
-- is the reward we all deserve. We have them 'in the box,' and as soon as
testing is completed, we intend to start shipping!"
Col. Larry Hoffman, USA (ret), promised a full report on major
accomplishments with government agencies as soon as approvals are granted for
release of the information.
"The SecureView system was tested and used in a classified assignment, and
we have to wait for an approved press release," according to Jennifer Lawson,
agency president of McBride & Associates. "We also have a major contract
pending with a foreign government and scheduled meetings overseas."
On a lighter note, the SeaView live video site at the Florida Aquarium
should be up and running on the Internet shortly. The site is a cooperative
effort between SeaView, the Florida Aquarium, and the St. Petersburg Times,
and will be accessible 24 hours a day.
SPECIAL STATEMENT REGARDING THE AMERICAN STOCK EXCHANGE
Officials at the American Stock Exchange have contacted the Company
regarding permission to release statements confirming the application to
brokerage firms and individual callers. "It's the most common question we're
being asked," McBride stated. "Several major brokerage firms have inquired.
A few documents were lost in transit or misplaced; we are expediting copies
today. I have assurances that, once reviews are complete, the percentages are
very positive that we will be accepted. At that point we will work with our
Representative to consider the issues of timing."
CLARIFICATION
Correcting a previous statement, Morgan Stanley Dean Witter and Co. is not
directly or indirectly involved in funding SecureView production. Funding for
the manufacture of SecureView is being guaranteed and collateralized through
the private holdings of Rich McBride, currently held at the firm.
website: www.sevu.com
email: info@sevu.com
Investor Information: 727-866-3660
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.
SOURCE SeaView Video Technology Inc.
-0- 07/24/2000
/CONTACT: J R Cox of SeaView, 727-866-3660, or info@sevu.com/
/Web site: sevu.com
(SEVU) |
