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Strategies & Market Trends : Anthony @ Equity Investigations, Dear Anthony, -- Ignore unavailable to you. Want to Upgrade?

To: Boquacious who wrote (93853)	1/23/2006 2:28:09 PM
From: Boquacious	Respond to of 122087

Once again, we all ask, how can this company be the basis of any manipulation by a short-seller. Just wondering? Maybe I'm too simpleminded or maybe too much common sense? Seaview Video Technology CASE INFORMATION Summary: According to a press release dated May 17, 2001, a complaint has been filed against SeaView Video Technology, Inc. and Richard McBride, President and Chief Executive Officer of SeaView. The complaint alleges violations of Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5. The complaint alleges the company issued a series of material misrepresentations to the market concerning, SeaView's expected revenue for 2000, its reported revenue for the second and third quarter of 2000, the demand for its products, and its ability to manufacture sufficient product to meet the purported demand. Specifically, defendants had led the market to believe SeaView would have gross sales of $46 million in 2000, yet gross sales ended up being slightly over $1 million. In addition, on March 19, 2001, the Company announced it had determined that there were inaccuracies in its financial statements for the quarters ended June 30, 2000 and September 30, 2000 with regard to recognition of revenue as related to certain purchase orders. The restated revenue for those two quarters reduced revenue from $4 million collectively to approximately $550,000.