Press Release
SETO Releases a Statement Concerning the Recent Share Price Decline
BRIARCLIFF MANOR, N.Y.--(BUSINESS WIRE)--Oct. 19, 2000--SETO Holdings, Inc. (OTCBB-SETO) today stated that the third quarter it is shaping up to be our biggest revenue ever and again profitable.
``As you all know, there has been a decline in the price of our stock in the last few weeks, which we cannot explain or understand, since SETO continues to have positive growth and profits, again forecasting the best ever for the coming third quarter ending October 31, 2000. The only explanation we have for the reduction in share price is lack of retail market support for SETO stock and general poor market conditions. We are continuing to try to get serious and dedicated Broker Dealers and an Investment Banker in a firm that will also bring support to the stock. This effort will not stop until we succeed,'' said Gene Pian, SETO's President, CEO.
Gene Pian also said ``SETO has never been is a stronger position then the present time, from the first days of our inception as a private company in 1983 and as a public company since 1987, 17 years in total. Our growth from $6+ million last year to over $30 million forecast for this year with $15+ million in assets, $7+ million net worth and only $4 million in debt, we think makes SETO a very strong company with a great future and huge potential for shareholders equity growth.''
The ``SETO FALL NEWSLETTER'' will be on our web site www.setoholdings.com by tomorrow or latest Monday, which has additional updated information concerning the current events of the Company.
About SETO Holdings, Inc.
Founded in 1975, SETO Holdings, Inc. operates as a broad based technical manufacturer in three major product groupings: Technical Products to industry, inclusive of diamond tools, wafer fab supplies and technical ceramics; and Consumer Products such as cellular phone batteries, rechargeable batteries for use in consumer electronics and Telecommunication devices. Please visit the Company's web sites: www.SETOHOLDINGS.com, www.stidiamond.com, www.ecsceramics.com, www.setoEmall.com, www.hk-batteries.com.hk Included in this release are ``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, as amended. Although the company believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations reflected in such forward-looking statements will prove to have been correct. The company's actual results could differ materially from those anticipated in the forward-looking statements as a result of certain factors including sales levels, distribution and competition trends and other market factors.
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Contact:
SETO Holdings, Inc.
Thomas Fisher
Public Relations Manager
Tel: (914) 923 5000
Fax: (914) 923 6225
e-mail: stiandecs@aol.com or setofisher@aol.com |
