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

To: dkgross who wrote (1784)	5/1/2001 2:41:28 PM
From: dkgross	Respond to of 1992

Return to Headlines UPDATE 1-SeaView Video says SEC probing books, records (adds CEO comments, latest stock price) WASHINGTON, May 1 (Reuters) - SeaView Video Technology Inc. <SEVU.OB>, a maker of underwater cameras and security video systems, has said that federal securities regulators were investigating disclosures the company has made about its financial condition. The St. Petersburg, Florida-based company reported the probe in a filing on Monday with the Securities and Exchange Commission. It said that the SEC was looking into SeaView's periodic financial reports and books and records, as well as statements the company made to its accountants. The filing did not elaborate further, but SeaView Chief Executive George Bernardich said in an interview on Tuesday that the SEC was examining last year's documents. "We have cooperated fully, gave them all the information they requested and we are moving forward." He added that SeaView restated second and third quarter financial figures and installed a new management team. SeaView said in the filing that it expects to incur an undisclosed amount in costs responding to the SEC probe. The company's shares lost 17 cents to 58 cents in afternoon trading on the Bulletin Board. Earlier in the day the stock was unchanged at 75 cents. In the past 52 weeks, SeaView's shares have swung from 70 cents to $16. © 1999 Reality Online Inc., A REUTERS Company 1000 Madison Avenue, Norristown, PA 19403, USA. All rights reserved.