SEAVIEW VIDEO TECHNOLOGY INC: Key Developments
SeaView Video Technology Inc. Hitches Up Audiovox Specialized Applications, LLC to Distribute PowerLine Vision Systems (PLVS)
May 30, 2003
SeaView Video Technology Inc. announced its latest distribution partnership. SeaView has signed a five year multi-million dollar contract with Audiovox Specialized Applications, LLC (ASA). ASA will distribute SeaView's PowerLine Vision Systems (PLVS) technology to the Recreational Vehicle marketplace in North America. As part of the distribution agreement, ASA is required to attain annual guaranteed minimum net unit sales and purchases to retain the attractive distribution rights over the five-year term of the agreement. SeaView has received initial orders from ASA, which are expected to begin shipping shortly.
Frontgate Selects SeaView Video Technology Inc.'s SecureView Camera System for New Catalog
April 22, 2003
SeaView Video Technology, Inc. announced that it has begun merchandising its patented power-line SecureView "camera in a light bulb" in Frontgate's newest catalog; "Grandin Road," this July.
SeaView Video Technology Inc.'s Camera System Now Available at Grupo Sanborns
February 26, 2003
SeaView Video Technology Inc. announced that it has shipped an initial order for the Company's patented power-line SecureView "camera in a light bulb" to Grupo Sanborns, S. A. de C.V., of Mexico.
Ambler Promoted to President and COO of SeaView Video Technology Inc.
February 20, 2003
SeaView Video Technology Inc. announced that the Board of Directors has promoted current COO, Michael Ambler, to the position of President and Chief Operating Officer, effective immediately, leaving George S. Bernardich III with the responsibilities of Chairman and CEO. Mr. Ambler joined the Company in February 2001 after twenty-eight years in various management positions with the J.C. Penney Company, Inc.
SeaView Video Technology Inc. Signs Up Master Distributor in Waste Hauling Transportation Market
February 13, 2003
SeaView Video Technology, Inc. announced that it has inked an exclusive master distributorship agreement with The Tyman Group, LLC to sell and distribute SecureView DC Camera Systems exclusively to the waste hauling vehicles, materials handling, and special utility vehicles markets in North America. As part of the agreement, to acquire exclusive distribution rights The Tyman Group will pay a non-refundable exclusivity fee payable in two installments with the first payment being paid at the execution of the agreement and the second payment scheduled in 180 days. In addition, to retain these exclusive distribution rights Tyman is required to attain annual guaranteed minimum net unit sales and purchases over the five-year term of the agreement with the 2003 contract year guaranteed minimum net unit sales and purchases set at approximately $1.7 million. If The Tyman Group achieves their annual guaranteed minimum net unit sales and purchases over the life of the agreement, Seaview has the potential to achieve approximately $36.25 million in revenue. SeaView has received initial orders from Tyman, which are expected to begin shipping later this month.
SeaView Video Technology Inc. Secures Exclusive Worldwide Powerline Products License
January 31, 2003
SeaView Video Technology Inc. announced that it has secured an exclusive worldwide license with Satius, Inc. for use of their patented powerline communications technology in products manufactured and distributed by SeaView. The license agreement, executed December 18, 2002 between Seaview and Satius, replaces the original agreement of October 18, 1999 and subsequent addenda. Satius, Inc. is the renamed entity formerly doing business as VideoCom, Inc. and Wire 21, Inc. The new agreement allows SeaView to exclusively manufacture, sell and distribute IRFS related powerline products in North America, South America, Europe, Japan, Australia, New Zealand, Turkey, Russia, China, and Asia with the exception of Cambodia, Myanmar, Thailand, Indonesia, Philippines and Malaysia. The agreement also significantly reduces the per-unit earned royalty, which will allow SeaView to price our powerline products more competitively in the marketplace, especially in the retail distribution channel.
SeaView Video Technology Inc. Acquires Intellectual Property
January 07, 2003
SeaView Video Technology Inc. announced that it has acquired all of the patents and pending patents which were formerly licensed from the estate of Richard L. McBride. A patent assignment agreement was executed December 12, 2002, terminating the license agreement with the McBride estate, and assigning ownership and rights of all of the patents and pending patents to the Company. As consideration, the estate received 100,000 shares of restricted SeaView common stock and forgiveness of their entire cash debt owed the Company. The acquired patents cover component designs used in the manufacture of all SeaView marine products and the powerline security camera, SecureView.
SeaView Video Technology Inc. Brings High-Speed Power Line Carrier Technology to the Transportation Industry
August 13, 2002
SeaView Video Technology Inc. Introduced a new product line for the transportation industry. Leveraging existing patent-protected Power Line Carrier (PLC) technology, SeaView has built a new system that runs voice, video, audio and data communication over DC (Direct Current) power lines to add to their existing SecureView AC (Alternating Current) product lines. Within the transportation industry, SeaView's new DC product line will initially be utilized on trucking and managed fleet vehicles to provide a "near-wireless" high-speed on-board video solution. |
