To all SEVU longs still in denial, time to quit crying or shouting and yelling and think a little.
Rich has been dangling the AMEX carrot in front of you for what, almost a year? The SEC filings stated that a proxy statement would be filed last April, and Rich said back in November that it would be sent in a week. BS. Don't you people get it? Rich has to disclose that he is a crim in that proxy statement. And guess what else, there was never, I mean never, no way in hell, no chance, ZERO, are you getting this, ZERO chance, that this company got an AMEX listing without the proxy statement. Rich never intended to go on the AMEX, if so he would have come clean about being a crim, and filed the proxy 8 months ago. If Rich ever filed anything with AMEX, right away they would have asked for the Proxy, and he would know the jig is up. Instead he, and any other management members that had anything to do with it, have been blowing smoke up your rears for a long long time.
Furthermore, you folks keep trying to hang your hat on the promise of mass production. Please go to the SEC filings. See that there ain't no money to make this happen. The company owes as much as it has in assets. Oh but Rich is going to pay for it. No he ain't. If Rich was so damn loaded why did he have to borrow money from the company. Again, read the SEC filings. Rich has about a $500k interest free loan from the company that is secured with his 6 million shares of stock.
I see Francois is calling for his good buddy Rich to step down, and maybe replace him with JR Cox. Don't fall for it folks. Yeah, Rich needs to step down, and if he's as rich as is claimed he'll be coughing it up in lawsuits for all the misleading he has done to investors, but Cox ain't the solution. He has been Richs boy from day one, they both have used the Miluky email address to register domains, they're thick as thieves.
This company is over. You could bring in Jack Welch to run it, and it's still over. The main reason is they probably don't really have a viable product. You all are now starting to think, well we get rid of Rich, get mass production going, and pow we're still in the game. Wrong.
Like a long on RB posted, they need to prove that the orders are real. The odds are that they are not. That whole tote board out front and center for visitor to see, with all the sales numbers on them, that smells of conjob. SEVU never answers any real questions about sales but they let you see that. Come on.
Odds are there are no real sales to speak of. Even if there are, like I said, according to SEC filings, SEVU has no money to fund expansion. To get the money, they would have to sell more stock, and that is going to be a very very hard sale, considering it's very unclean reputation. This means the shares would have to be way below market, except where many of you had your shares tied up for a year, these wouldn't have that restriction, or maybe 30 days, it would have to be way way below market, probably a floorless convertible, and this means massive share dilution for all.
People are dreaming of a buyout? Why? Who would buy you? Who would want to have a tie to this company at this time? Why buy now when you could likely pick up the parts you wanted in a bankruptcy liquidation. Of course Rich will still have some of the patents since many are in his name, not the companies.
To give you some idea of how bad things are, I have corresponded with an attorney about this, and he wouldn't even pursue a class action suit here even though it looks very open and shut, simply because you can't get blood from a stone. SEVU is not even worth suing.
To put it mildly, you are screwed. The worst part is, the truth has been out there for many months, the writing was on the wall, but thanks to evil scum like Francois telling you that anyone with anything negative to say was the bad guy, worked for a market maker, etc. etc. etc. you all chose to ignore it. Learn from this. Don't fall in love with a stock. Always keep an open mind, be as suspicious of people pumping the stock as you are of those that bash it.
CMB |
