SeaView Reports SecureView Sales Over $1M Per Week...
ST. PETERSBURG, Fla., Oct. 30 /PRNewswire/ -- SeaView Video Technology Inc. (OTC Bulletin Board: SEVU - news; www.sevu.com) today announced weekly order totals topping 1 million dollars, with two days each exceeding $250,000 for the company's SecureView ``camera in a light bulb.''
``We've been setting up independent Radio Shack, Ace Hardware, and Trustworthy Hardware stores,'' said CEO Rich McBride. ``These independents will spearhead our retail marketing thrust. We are working with JCPenney Co. Inc. (NYSE: JCP - news) to get our marine products up on their website as soon as possible. With our supplier number in place, we can move forward with our marketing plans. You can expect to see SecureView in JCPenney catalogs next year.''
The company has already sold SecureView systems to JCPenney Loss Prevention and Outlet Stores. ``This area of use takes us easily inside many major retailers,'' stated National Sales VP Larry Hoffman. ``I'm scheduling appointments now with Sears and K-Mart, both of whom have stated an interest.'' K-Mart had previously expressed an interest in the SeaView Super-Mini underwater camera. SeaView has indicated it has large-scale production capability and immediate availability of all Marine Division products.
SecureView installation of military orders for National Guard equipment- storage facilities will get underway in November, with an initial system for testing. ``From there, we move on toward a goal of 500 buildings next year,'' said VP New Products J R Cox. The European installations for the 7th ARCOM Division also are slated for next year, he said. ``The multi-cam system has been under development, and we need to get it into service. We can install a multi-camera SecureView system in one-tenth the time of competing wired systems. Wired systems on average are costing about $100,000 -- our average is around $20,000 including CPU and remote access. We'll also have a commercial version available next year.''
``We intend to pursue the computer-networking market next year with AC- LAN,'' he continued. ``As long as we're networking the video, why not grab everything?''
The company expects to post record sales for the current year, in excess of 2000% over the previous year ending 12/31/99.
``We should exceed our $160-million projection in 2001," McBride stated. "I'm confident about the final product. We're now shipping, and I feel we will sell every unit we can make for the next several years. Our patent protection assures us of no competition in the technology. We even have a pending patent covering video cameras in light bulbs. With over eighteen patents granted covering all of our products, our major concentration now has to be production. All our tooling and equipment is paid for; we're looking at only about $150,000 in payables -- mostly advertising. We remain basically a debt-free company. The only thing we lease is our postage machine."
ABOUT SEAVIEW VIDEO TECHNOLOGY INC.
SeaView Video Technology, Inc. manufactures, distributes, and sells marine and security-related video camera equipment for recreational and commercial customers worldwide. They are the largest manufacturer of Infrared Underwater Camera Systems. SeaView Marine Division products are now available through a Dealer Network of over 800 retail store dealers.
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.
SeaView trades under the OTC BB symbol SEVU, and has applied for a listing on the American Stock Exchange (the symbol STV has been reserved). Estimated 3rd Quarter 2000 sales increased 1400% over the same period in 1999.
website: www.sevu.com
email: info@sevu.com
message board: www.investorshub.com (keyword: SEVU)
Investor Information: McBride & Associates, 727-820-0711, or
(www.rlmcbride.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.
SOURCE: SeaView Video Technology Inc. |
