Message copied from RB, worth reading...
E-MAIL FROM LA GUARDIA JUST RECIEVED, SETO HOLDINGS, INC. (OTC:BB SETO) UPDATE ON PENDING
FINANCIALS
WWW.SETOHOLDING.COM
La Guardia GFS continues its coverage of SETO Holdings, Inc. (OTC:BB SETO). Per a one year contract for Investor
Relations, signed between La Guardia GFS and SETO on March 12, 1999, La Guardia continues to rate SETO as a
STRONG BUY and HOLD. We have seen a lot of buying over the past 10 sessions, and very little selling. There appears to
be a short position in the stock which may have to cover on March 31, 1999 due to Market Makers "marking to the market",
or in layman's terms, covering their short positions to avoid Net Capital Violations through the NASD.
The stock continues to be highly undervalued just ahead of the release of their 1999 Fiscal year end numbers. In a recent
conference call with Gene Pian, President of SETO Holding, Inc. confirmed that the accountants have sent the audited
financials from all Malaysian operations to New York, where they will be consolidated with the remainder of SETO's financials
and released early next week. "We have been working as quickly as possible to prepare the financials ahead of schedule,
and release these numbers to our shareholders," stated Mr. Pian, "The Chinese New Year celebration in early February threw
us off schedule by a week, and other regional holidays, over the past week, have impeded our progress as well. We feel very
strong that these financial numbers will be available the first week in April."
Mr. Pian had no further comments on the EPS, other than what he has previously stated. He was very upbeat about the
completion of the Samsung cell phone battery manufacturing and the large volume increase it is bringing to SETO's wholly
owned cellular phone battery manufacturing facilities, operated by, FUJI Fabrication, Sdn. Bhd., out of Penang, Malaysia
(http://www.setoholding.com/fuji/index.html). Earlier this week, Pian stated that FUJI would be expanding its web site to
include e-commerce, and anticipated on offering individual customers, low cost cell phone batteries via the Internet no later
than the end of April, 1999. FIJI currently manufactures between 15k-20k batteries per month as after-market products for
Motorola, Nokia and NEC cell phones, to name a few, and they anticipate this number will increase by over 400% within the
next 12 months.
La Guardia GFS has published a new web site on the Internet called DosComercios.com ("two trades" in Spanish). Even
though the web site is not complete, we invite you to visit www.DosComercios.com for more information on SETO Holdings,
Inc., and we urge you to e-mail us with any suggestions or general remarks on how we can make this site more informational
and usable. We have also been informed that there may be a temporary problem with the e-mail address listed below and
offer the following address as an alternative, comercio@riogrande.net.mx.
La Guardia has been compensated by SETO to manage their investor relations ($5k cash retainer / 150k shares of restricted
stock, said stock is restricted until March 12, 2000). In addition to the above listed compensation, La Guardia GFS has
purchased in excess of 150k shares of stock on the open market over the past 30 days, and will continue to acquire
additional shares in SETO as our portfolio management protocol will allow.
As always, we encourage and recommend highly that any investor do their own due diligence prior to making any investment,
and we do not advocate purchasing shares in any company based on this recommendation and/or technical analysis alone.
PLEASE CONTACT LA GUARDIA GFS AT 800.292.1361 OR COMERCIO@DOSCOMERCIOS.COM or
COMERCIO@RIOGRANDE.NET.MX
WITH ANY QUESTIONS PERTAINING THIS E-MAIL.
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