Tomorrow looking like A SETO WATCH DAY..
SETO HOLDINGS, INC. (OTC:BB SETO) TO OPEN E-COMMERCE SITE IN MAY 1999
WWW.SETOHOLDING.COM
Continuing our coverage of SETO Holdings, Inc. (OTC:BB SETO), La Guardia GFS remains bullish on this stock, and maintains our short-term target of $1.50-$2.00/share, and $4-$5/share within the next 12 months. A lot of shareholders have expressed concerns regarding SETO's audited financials for fiscal 1999 (ended Jan 31, 1999). As Gene Pian has stated more than once over the past 5 days, the delays are due to regional holidays in Asia, including Chinese New Year. Pian did not expect these holidays to have such an impact on the timing of the financial audits for SETO's Malaysian divisions, including FUJI Fabrication, setoholding.com, SETO's rechargeable battery manufacturer. In a conference call with Gene Pian in Panang, Malaysia yesterday, Mr. Pian confirmed that the consolidated financial audits have been COMPLETED, and are in final review, ahead of being released tomorrow morning. Mr. Pian commented further that the 10K would be filed roughly 2-3 weeks after the financials are released to the general public, via a national Press Release through Business Wire.
Mr. Pian further discussed plans for the new e-commerce site to be opened no later than May 15, 1999 for FUJI Fabrication's cellular phone batteries. Pian stated, "We have spent the past month developing our pricing strategy. We have seriously evaluated the competition, and we feel that our prices will be among the most competitive in the industry, including on-line sales, catalog sales and other retail outlets. We have no desire to be the cheapest, but out of the top ten companies evaluated, we will be number one and a half."
SETO has contracted with IMS, Integrated Management Solutions Inc., Armonk N.Y., a firm providing computer related services to small and mid sized business requirements including internet and web site development, customized training, application design and development, and network engineering. IMS will be responsible for the development of FUJI's e-commerce site. Joel F. Rado is the founder and President of IMS, and a SETO board member (see brief resume: setoholding.com. Mr. Rado has over 25 years of IBM Corporate responsibility and accomplishment in a broad range of computer and information services.
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.
SETO HOLDINGS, INC. (OTC:BB SETO) TO OPEN E-COMMERCE SITE IN MAY
1999<STRONG>
</STRONG>
WWW.SETOHOLDING.COM<STRONG>
Continuing our coverage of SETO Holdings, Inc. (OTC:BB SETO),
La Guardia GFS remains bullish on this stock, and maintains our short-term
target of $1.50-$2.00/share, and $4-$5/share within the next 12 months. A lot of
shareholders have expressed concerns regarding SETO’s audited financials
for fiscal 1999 (ended Jan 31, 1999). As Gene Pian has stated more than once
over the past 5 days, the delays are due to regional holidays in Asia, including
Chinese New Year. Pian did not expect these holidays to have such an impact on
the timing of the financial audits for SETO’s Malaysian divisions,
including FUJI Fabrication, </STRONG>http://www.setoholding.com/fuji/index.html, SETO’s rechargeable battery manufacturer. In a conference call
with Gene Pian in Panang, Malaysia yesterday, Mr. Pian confirmed that the
consolidated financial audits have been COMPLETED, and are in final review,
ahead of being released tomorrow morning. Mr. Pian commented further that the
10K would be filed roughly 2-3 weeks after the financials are released to the
general public, via a national Press Release through Business Wire.
Mr. Pian further discussed plans for the new e-commerce site to
be opened no later than May 15, 1999 for FUJI Fabrication’s cellular phone
batteries. Pian stated, "We have spent the past month developing our
pricing strategy. We have seriously evaluated the competition, and we feel that
our prices will be among the most competitive in the industry, including on-line
sales, catalog sales and other retail outlets. We have no desire to be the
cheapest, but out of the top ten companies evaluated, we will be number one and
a half."
SETO has contracted with IMS, Integrated Management Solutions
Inc., Armonk N.Y., a firm providing computer related services to small and mid
sized business requirements including internet and web site development,
customized training, application design and development, and network
engineering. IMS will be responsible for the development of FUJI’s
e-commerce site. Joel F. Rado is the founder and President of IMS, and a
SETO board member (see brief resume: setoholding.com. Mr. Rado has over 25 years of IBM Corporate responsibility and
accomplishment in a broad range of computer and information services.
<STRONG>
</STRONG>
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.<STRONG> |
