Don Shula Negotiating With SeaView...
ST. PETERSBURG, Fla., March 21 /PRNewswire/ -- SeaView Video Technology, Inc. (OTC Bulletin Board: SEVU - news) is negotiating to sign legendary sports figure Don Shula as spokesperson, according to Jennifer Lawson, consultant. ``Yes, there have been rumors, and yes, we have been in touch,' Lawson said late yesterday.
In an announcement this morning, President-CEO Rich McBride stated that this will be ``THE WEEK' for the Company. ``We're readying for a presentation to retailers. Our teaming representative, Logis-Tech, will have personnel in town for a review of the new SecureView system.' The plan is to supply an 8- to 10-camera system through an ongoing contract.
``It will be multi-camera, through a computer,' McBride continued. ``We screw in the floodlight cams, and the computer picks up the signals, all via the electrical wiring. It's fascinating to see in action. You can set it up for motion and size in any viewing zone. When a camera sees movement, it generates an alarm, the picture frame flashes red, and pops to the main view screen. I've got mine set to dial my cell phone, and I can access the system from any computer in the world.'
According to National Sales Manager Larry Hoffman, ``this is just the beginning. The contract should be in the range of $10 million, or more. The key points -- no cables to run and no distance problems. This will save up to 80% over typical wired installation costs. And of course most wireless cameras are lucky to get past 100 feet, and that with huge interference problems.'
Arch Cook, Sales Manager, says Marine Division sales will top $417,000 for First Quarter 2000. ``In 1999, the total gross profits were $868,000,' Cook remarked. ``The new dealer program is outperforming all our expectations. In just the last five days, sales were over $60,000 -- and we've signed just 150 new dealers, only a fraction of the 18-thousand dive shops, marine stores, and tackle dealers. Every boating and fishing magazine is sporting new full-page color ads ... 'Yachting,' 'Saltwater Sportsman,' 'DuPont Registry,' 'Marlin,' 'Florida Sportsman,' 'Sport Diving,' and another dozen or so. Just pick up a copy!'
``Speaking of magazines,' adds Jennifer Lawson, ``the much-awaited front-page feature in 'Wall Street Reporter' should actually be out this Thursday. SeaView TV ads are starting to pop up in markets around the country on cable-CNN, CNBC, and the Weather Channel. SecureView made its debut in 'USA Today' last weekend; look to the 'Wall Street Journal' on Friday!'
A settlement will soon be reached regarding 800,000 restricted shares held by the Company's original investment group, McBride said. ``These shares will NOT see the market this month. A 'lock-up and dribble-out' will be put in place to protect all of our stockholders.'
To top off the day's announcements, McBride said SeaView is ``negotiating the acquisition of our only real competitor. This will give us an unbeatable product line, plus instant access to the freshwater market. We own the saltwater market worldwide, with 80-plus percent of the sales.' The deal, if agreed to, will bring an estimated $5 million in additional sales, McBride said. ``Both companies are poised for huge growth this year, and it saves us from spending dollars to capture the market.'
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 Underwater Research Inc. to accomplish its stated plan of business. Although SeaView Underwater Research 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 Underwater Research Inc. or any other person that the objectives and plans of SeaView Underwater Research Inc. will be achieved.
SOURCE: SeaView Video Technology, Inc.
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