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Microcap & Penny Stocks : SEVU: New Invention of Great Potential... -- Ignore unavailable to you. Want to Upgrade?

To: who cares? who wrote (416)	11/27/2000 2:03:49 PM
From: StockDung	Respond to of 1992

Wonder if this ever happened? SeaView Details Stock Buy-back sevu.com ST. PETERSBURG, FL , December 6, 1999 (PRNewswire)--SeaView Video Technology, Inc. (OTC BB: SEVU, SEVUE) today released details of last week’s stock buy-back resolution. According to President-CEO Rich McBride, the company will attempt to purchase between 100,000 and 250,000 shares of outstanding common stock within the next six months. The current float is 2.68 million shares, with a total of 10.33 million shares outstanding. McBride also disclosed he is personally buying stock, adding to his current holdings of 6.4 million restricted shares. "In general, we’re seeing a lot of top executives buying into bigger stakes in their companies," he says. "Given the current market situation, this is good timing, and a good value for my portfolio." McBride addressed the recent E-listing of the company, attributed to "clarification and timing problems. With just over 8 months under our belt managing a public company with huge growth, coupled with major new product development, our team has been wearing multiple hats, with three newly awarded patents, and five more patents pending." McBride emphasized, "plus, we doubled goss sales over last year in just the first three quarters. My foremost goal for 2000," he says, "is to bring on a qualified CFO and additional support staff." In product-related news, SecureView(tm) prototypes have been shown to several major mass retailers. The "light-bulb security camera," which utilizes existing electrical wiring for video transmission, has had an unbelievable response. Home Depot (HD) representatives call it "excellent." Plans are already in the works for stage-two development, a further downsizing of the proprietary circuitry, for production of retail units selling at $299. McBride notes, "this next phase will put us in a position to close purchase orders, and move forward on an initial production run of 100,000." Pre-release interest in SecureView is phenomenal, according to Sales Manager Arch Cook. "We already have pending orders for several thousand units," he says, "and we don’t even formally announce until the January CES. When people see it, they want it." 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 uncertaintainties 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. < BACK to News Index << BACK to News Center HOME