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Microcap & Penny Stocks : SETO Semicon Tools Inc. -- Ignore unavailable to you. Want to Upgrade?

To: suzyq who wrote (2229)	4/13/1999 6:18:00 PM
From: Dave Gore	Read Replies (1) \| Respond to of 3222

SETO REPORT (after speaking with 2 individuals today): Spoke with Phil Hernandez of LaGuardia and then Paul Alpier, former IR contact, on SETO's Board of Advisors. First the Financials. Both recognize a mistake was made in promising such an optimistic date. Gene is out of the country, and everyone is going a mile a minute with important negotiations and other things. That said, the financials have to be out in full audited form before the end of the month. Fully filed, etc. Why are they late? Nothing bad at all. First financials are complicated and you cannot hurry auditors along. They had the acquisitions that really made things more complicated. Plus things like deciding whether you want to take write-offs this quarter or next. Lots of decisions to make. Numbers are still positive earnings per share. Did they get put on the back burner a little? Well, not really but Gene is out of the country working with the Former Pres. of Fuji, whose company they bought, and who is opening lots of doors for them in Asia. High level, important meetings Does the lateness hurt their credibility? Perhaps a little, but certainly no big deal since the bigger picture is way more significant, and I am going to forgive them a mistake of optimism about the auditing timeframe. I ahve never seen audited financials ever come out on time....ever. Did I learn anything about other deals? Yes, LaGuardia says that additional deals the size of Seagate may happen soon, as the other companies that were testing the slider plates may sign contracts. Also Sanyo and some other undisclosed companies are apparently being talked to in regards to the battery and other areas. How fast could/should the company grow? 400-500% in Fiscal 2000, which we are in right now. Who is in SETO? Lots of people and groups that have nothing to do with SI or the internet. We are small potatoes compared to these others. LaGuardia own almost 200K shares they bought in the open market, and many other long term holder exist with large positions. They are also confident that some Asian buyers will buy in. Much more, but this is the gist. I don't see any point doing anything different. I will hold and buy more on dips. SETO is a core holding now.