Rande... In regard to SETO ... I typically do not like sharing DD anymore because of the grief I took on MIDL for being so diligent. I am diligent on all the stocks I invest in as longs. I will try to answer your questions but I am not in anyway doing this to promote or condemn this stock ... I do hold a position in this stock based on my DD. This post is STRICTLY my opinionwhich is based on my own personal DD.
1. Semicon Tools. . . They sound familiar. . .diamond tools, wafer fab supplies and technical ceramics and batteries. . .have they had reverse splits in the past 4 years? Sure have traded alot of shares.
According to the filings there has been no reverse or forward split ... However you are correct in the industry ...
2. "Fuji" Fabrication in Malaysia. . .no relation to "Fuji Film" of Japan, correct?
FUJI is a well known and used name that is used in every industry there is from film products, publishing, banking and even SETO's industry: diamond tools, wafer fab supplies and technical ceramics and batteries. However FUJI Fabrication Sdn Bhd is probably not associated with FUJI of Japan that I am aware of to date. ANyway here is the info from the 8K:
ITEM 2. Acquisition or Disposition of Assets
On September 19, 1998, effective as of September 15, 1998, the Company sold all of the issued and outstanding capital stock of TTH to Tan Khay Swee in exchange for 10,000,000 shares of the Company's Common Stock. The Company had acquired TTH from Mr. Swee in exchange for 10,000,000 shares of its Common Stock on November 26, 1997. The Company did not retain any investment banker in this sale.
After giving effect to the disposition of TTH, the Company's business is as follows:
1. Semicon Tools, Inc., a New York diamond tool manufacturer and distributor of wafer fabrication supplies to the semiconductor industry, with manufacturing and distribution facilities in Malaysia and the United States.
2. East Coast Sales Co., a New York technical ceramic fabricator and distributor to the aerospace, defense, detection device and electronic industries.
3. DTI Technology Sdn. Bhd., a Penang, Malaysia diamond tool manufacturer and distributor to all of Asia, as well as STI, for the semiconductor, optical and machine tool industry.
4. Fuji Fabrication Sdn. Bhd., a Penang, Malaysia cellular phone battery manufacturer and distributor to Malaysia, Hong Kong and the Philippines.
5. Southsonic Corporation Sdn. Bhd., a Penang, Malaysia manufacturer of high-end consumer electronic audio components and entertainment systems sold in Malaysia and South Africa.
ITEM 5. Other Events
On October 2, 1998, the Company changed its name to SETO Holdings, Inc.
3. Marketing of cell phone batteries via their E-commerce site. . do you know the margin on these?
Since SETO is the manufacturer it could be anything but probably 100% mark up or money. I am not sure and typically this kind of information is not known to the public but insiders mostly.
4. Tons of press releases spaced less than a week apart, and now a newsletter via the website where even more information can be given out. . .[controlled?], which affects the price.
You again are correct however each news release was in fact informative and did not have any fluff. ALso with Yahoo now controlling ticker spamming I did not see the where the news agencies did not hyperlink the tickers because each one was a direct connection to the news release. If everything is coming to them then by the rules of the SEC as you well know they have to put out any news in a tinmely basis that could efect the stock.
Now last week, they hire La Guardia Global Finance Svcs. . . does this mean that the press releases will be MORE often than they already are?
I doubt that for the reasons same as above ... if they start putting out fluff releases then the stock will take verbal abuse from investor who do DD on why they do not keep to the facts.
Mr. Pian, President of SETO Holdings, Inc. stated, "La Guardia is the most aggressive firm we have considered for our investor relations, With the massive PR, seemingly out of nowhere. . .does this not strike you as contrived?
Contrived? is a strong word ... However, La Guardia is agressive at doing stock promotion to get the stock public attention ... they do emails and so forth. I do not expect a bunch of inane releases or emails from them.
5. SETO's Fuji Fabrication "has received its first battery pack production order for the new Samsung SGH-600 cellular phone..." I am VERY interested in knowing why they failed to mention WHO placed this order. Did SETO order from FujiFab? WHO PLACED THIS ORDER? go2net.newsalert.com.
More and more companies are refusing to be named in release bnecause of the bombardment of phone calls from the internet ... They are in business to do business not be a IR or PR for a client they order product from.
6. In the above linked press release, why is the "Fuji" in Fuji Fabrication CAPTALIZED? Is the company intentionally attempting to confuse the reader into thinking that the company is somehow related to the well established FUJI FILM of Japan. . .that makes film, batteries and has a blimp?? If so, this would be a fraudulant act, which should immediately be reported to the SEC.
No, it is the logo that is registered for the company. Most of the time the word FUJI is capitalized when it is used. Misleading it is not for if that were the case then anyone using FUJI would be liable for the reason you state. However, if it was used it would be hard to prove since the FUJI ticker was not used.
7. From the above linked press release, what does this sentence mean? . . "...FUJI has selected the worlds leading cell manufacturers such as Sanyo Electric (NASDAQ: SANYY), Sony (NYSE: SNE), Toshiba and Panasonic to use in the development and production of FUJI batteries. If I read this correctly, they are buying batteries from the above companies with the "FUJI" brandname, under a private label contract. Is this true? If this is NOT true, please let me know IMMEDIATELY.
It could mean that they are buying the batteries to put under a private label or to use in a R&D scenario. Regardless there was at one time only 6 compressor manufacturers and all they did was OEM out special compressors to the different labels. It is probably a combination of OEM labeling and R&D ...
I hope this helps ... as with any company we can speculate on anything but the company does not appear to me in my dealings with it to be careless or misleading.
:-)
Gary |
