InelegantInvestor Posted December 29, 2015 Share Posted December 29, 2015 New pr from company with scant detail, asking for patience: http://www.sec.gov/Archives/edgar/data/1096934/000072174815000898/site8k122915ex99_1.htm Link to comment Share on other sites More sharing options...
Travis Wiedower Posted February 6, 2016 Share Posted February 6, 2016 I've been working on Sitestar recently and just posted a blog covering my thoughts: http://traviswiedower.com/2016/02/06/what-is-sitestar-worth/ I assume most in this thread are bullish, does anyone think I'm understating their valuation? Link to comment Share on other sites More sharing options...
writser Posted February 7, 2016 Share Posted February 7, 2016 I haven't been following this name closely but that was a great post. Thanks for putting in the effort and sharing your insights. One footnote (take my thoughts with a grain of salt, no expert on Sitestar): this is an extremely small company now run by part-time people. I would expect that monetizing the real estate will take at least a couple of years and a lot of hard (paid) work and I would probably discount the real estate assets for that. Nevertheless it looks decently attractive. However, I'm not going to buy because all the value is in the real estate, I live on the other side of the planet and I'll always be at a huge disadvantage when it comes to handicapping the value of ~50 arbitrary houses in Virginia. Link to comment Share on other sites More sharing options...
rkbabang Posted February 8, 2016 Share Posted February 8, 2016 I've been working on Sitestar recently and just posted a blog covering my thoughts: http://traviswiedower.com/2016/02/06/what-is-sitestar-worth/ I assume most in this thread are bullish, does anyone think I'm understating their valuation? Thank you for posting this. I have trying to find a definitive list of the properties owned, but it doesn't appear to be public anywhere. Even http://sitestar.com/properties doesn't exist anymore. Also, I've been assuming first.com is worth 7 figures, but who really knows until it is sold. Link to comment Share on other sites More sharing options...
Travis Wiedower Posted February 8, 2016 Share Posted February 8, 2016 You can use the Wayback Machine to view the old sitestar.com/properties and /rentals pages by the way. I wouldn't be the least bit surprised if first.com is worth $1M+. It's a hell of a domain. I'm thinking of it more as a free option than a significant part of the investment thesis though. Link to comment Share on other sites More sharing options...
rkbabang Posted February 9, 2016 Share Posted February 9, 2016 You can use the Wayback Machine to view the old sitestar.com/properties and /rentals pages by the way. I wouldn't be the least bit surprised if first.com is worth $1M+. It's a hell of a domain. I'm thinking of it more as a free option than a significant part of the investment thesis though. Thanks, I forgot about the wayback machine. Yes it is a nice free option though, because for a company this size $1M+ in cash is very significant. Link to comment Share on other sites More sharing options...
bizaro86 Posted February 9, 2016 Share Posted February 9, 2016 It's entirely possible I don't "get" domains, but what would you expect first.com to get used for? Link to comment Share on other sites More sharing options...
rkbabang Posted February 9, 2016 Share Posted February 9, 2016 It's entirely possible I don't "get" domains, but what would you expect first.com to get used for? I don't know, but "we.com" was just sold for $8M https://www.namepros.com/blog/we-com-sales-price-was-8million-buyer-revealed.873017/ Link to comment Share on other sites More sharing options...
rkbabang Posted February 9, 2016 Share Posted February 9, 2016 Here's another example from last year. 360.com went for $17M. http://www.ibtimes.com/chinas-qihoo-360-pays-reported-17-million-360com-bid-boost-global-profile-1808274 EDIT: Also these are only the public ones. A quote from the above article: "This news was almost certainly leaked by Qihoo, since companies pay large sums for domains all the time and the news never makes big headlines since it is kept private” I think a name like first.com is worth at least 1/17th what 360.com is worth, or 1/8th of we.com. Maybe more. They key would be to put it on the market and wait for the right buyer. Link to comment Share on other sites More sharing options...
Travis Wiedower Posted February 9, 2016 Share Posted February 9, 2016 Sports (first place), banking related (First National Bank), some type of game/gambling/betting (again, first place), dating (tagline: "the first and last place you need to meet the love of your life"), and God knows how many social media type things we can't predict (first user to do x results in y). That's with just a couple minutes of thinking so I'm sure there's way better options. Single syllable, common word domains will always have a demand. Link to comment Share on other sites More sharing options...
rkbabang Posted February 25, 2016 Share Posted February 25, 2016 More news: Sitestar Announces the Appointment of Jeffrey Moore as Chairman, the Resignation of Roger Malouf as a Director, the Appointment of Christopher Payne as a Director, and the Issuance of a Demand Letter to Its Former CEO "On February 16, 2016 the Company received the final results of the investigation regarding its former CEO, Frank Erhartic. This investigation was led by outside legal and accounting advisors to the Company. The results of the investigation form the basis of a demand letter that the Company has sent to Mr. Erhartic. The letter demands restitution for payments that the Company believes Mr. Erhartic inappropriately requested and received from the Company. The investigation also revealed that the company has previously claimed 3,318,000 more common shares than it has documentation for, a number which Mr. Erhartic has certified in filings to the Securities and Exchange Commission. The letter to Mr. Erhartic requests information to explain this discrepancy. There can be no promises that the Company will successfully collect on these demands. " Link to comment Share on other sites More sharing options...
Travis Wiedower Posted February 27, 2016 Share Posted February 27, 2016 A company has less shares outstanding than it claimed... never seen that before. Link to comment Share on other sites More sharing options...
InelegantInvestor Posted February 28, 2016 Share Posted February 28, 2016 A company has less shares outstanding than it claimed... never seen that before. I would guess that they are among the shares Frank claimed to own. Link to comment Share on other sites More sharing options...
Parsad Posted February 28, 2016 Share Posted February 28, 2016 A company has less shares outstanding than it claimed... never seen that before. I would guess that they are among the shares Frank claimed to own. Actually, I think they mean that 3,318,000 shares issued or claimed to be owned by the company has no back-up documentation to prove they should exist. Question is: - who owns these shares? - were these shares sold by whoever they were issued to? - were they fraudulently issued if there is no documentation or director's resolutions indicating they should have been issued? Cheers! Link to comment Share on other sites More sharing options...
rkbabang Posted March 7, 2016 Share Posted March 7, 2016 Not surprising news: "On March 3, 2016, the Company terminated Daniel A. Judd, its Chief Financial Officer. Mr. Judd was the Company’s principal financial officer and principal accounting officer." http://www.sec.gov/Archives/edgar/data/1096934/000072174816001025/site8k030716.htm Link to comment Share on other sites More sharing options...
rkbabang Posted April 26, 2016 Share Posted April 26, 2016 Anyone else notice that the symbol has changed from SYTE to SYTEE, it appears to have changed on April 19th, although the investor relations page says nothing about it? http://www.otcmarkets.com/stock/SYTEE/quote http://www.otcmarkets.com/market-activity/symbol-changes?search=SYTE&searchType=symbol Link to comment Share on other sites More sharing options...
nodnub Posted April 26, 2016 Share Posted April 26, 2016 Anyone else notice that the symbol has changed from SYTE to SYTEE, it appears to have changed on April 19th, although the investor relations page says nothing about it? http://www.otcmarkets.com/stock/SYTEE/quote http://www.otcmarkets.com/market-activity/symbol-changes?search=SYTE&searchType=symbol I googled "otcbb e suffix" and found this --> https://www.sec.gov/answers/eadded.htm When a company that trades on the Nasdaq Stock Market or the Over-the-Counter Bulletin Board (OTCBB) falls behind in its reporting obligations with the SEC, the letter "E" is appended at the end of the company's stock ticker symbol. New York Stock Exchange-listed companies that are late in filing required reports to the SEC have the initials "LF" added to the end of their stock ticker symbol. Markets have different approaches to companies that don't file required reports in a timely manner, or that file incomplete reports. For instance, on the OTCBB, after the "E" is added, the company is given a "grace period" to submit a complete report, typically 30 calendar days for U.S. companies and 60 calendar days for most U.S. banks and non-U.S. companies. If the company files complete required reports during the grace period, the "E" will be removed; if it does not, the company's stock symbol will be removed from trading on the OTCBB. For more information, please read the following: another perspective here: http://www.mjwstout.com/what-does-an-e-suffix-mean-for-an-otcbb-trading-symbol/ Link to comment Share on other sites More sharing options...
rkbabang Posted April 27, 2016 Share Posted April 27, 2016 Anyone else notice that the symbol has changed from SYTE to SYTEE, it appears to have changed on April 19th, although the investor relations page says nothing about it? http://www.otcmarkets.com/stock/SYTEE/quote http://www.otcmarkets.com/market-activity/symbol-changes?search=SYTE&searchType=symbol I googled "otcbb e suffix" and found this --> https://www.sec.gov/answers/eadded.htm When a company that trades on the Nasdaq Stock Market or the Over-the-Counter Bulletin Board (OTCBB) falls behind in its reporting obligations with the SEC, the letter "E" is appended at the end of the company's stock ticker symbol. New York Stock Exchange-listed companies that are late in filing required reports to the SEC have the initials "LF" added to the end of their stock ticker symbol. Markets have different approaches to companies that don't file required reports in a timely manner, or that file incomplete reports. For instance, on the OTCBB, after the "E" is added, the company is given a "grace period" to submit a complete report, typically 30 calendar days for U.S. companies and 60 calendar days for most U.S. banks and non-U.S. companies. If the company files complete required reports during the grace period, the "E" will be removed; if it does not, the company's stock symbol will be removed from trading on the OTCBB. For more information, please read the following: another perspective here: http://www.mjwstout.com/what-does-an-e-suffix-mean-for-an-otcbb-trading-symbol/ Thanks for the info. Link to comment Share on other sites More sharing options...
OracleofCarolina Posted June 14, 2016 Share Posted June 14, 2016 http://www.otcmarkets.com/stock/SYTE/news interesting news out today on Sitestar. Link to comment Share on other sites More sharing options...
ratiman Posted June 15, 2016 Share Posted June 15, 2016 HVAC value fund? This should be very entertaining. Good luck/condolences to the longs. Link to comment Share on other sites More sharing options...
Travis Wiedower Posted June 16, 2016 Share Posted June 16, 2016 HVAC value fund? This should be very entertaining. Good luck/condolences to the longs. Lol my reaction wasn't much different, I actually thought I read it wrong at first. Alternatively, I'd say these guys are smart and have their own money invested so there's probably value there. Link to comment Share on other sites More sharing options...
oddballstocks Posted June 16, 2016 Share Posted June 16, 2016 HVAC value fund? This should be very entertaining. Good luck/condolences to the longs. Lol my reaction wasn't much different, I actually thought I read it wrong at first. Alternatively, I'd say these guys are smart and have their own money invested so there's probably value there. Knowing both Steve and Jeff I'd say it's the later. Link to comment Share on other sites More sharing options...
Jurgis Posted June 16, 2016 Share Posted June 16, 2016 We'll see how this works out. But I've seen this pattern in other places and I can't say I like it. Activist "good guys" gain control of (usually small) company to fix it/redirect it/improve it. Then there's silence. Then they go into some weirdo tangent deals without explanation or with "hey this is the best thing since sliced bread" sales pitch that doesn't seem very convincing. Then ... Then ... I'd like to say "profit"... but so far I'm not so sure. I'll do Buffett "criticize in general" this time and won't name any names. Get back in 3-5 years. ;) Link to comment Share on other sites More sharing options...
InelegantInvestor Posted June 22, 2016 Share Posted June 22, 2016 We'll see how this works out. But I've seen this pattern in other places and I can't say I like it. Activist "good guys" gain control of (usually small) company to fix it/redirect it/improve it. Then there's silence. Then they go into some weirdo tangent deals without explanation or with "hey this is the best thing since sliced bread" sales pitch that doesn't seem very convincing. Then ... Then ... I'd like to say "profit"... but so far I'm not so sure. I'll do Buffett "criticize in general" this time and won't name any names. Get back in 3-5 years. ;) Jurgis hits the nail on the head, except I will name names. Now that they are management, Jeff and Steven have begun behaving in exactly the ways they previously railed against. This is a public company, with public shareholders. The lack of disclosure is incredibly troublesome. I would love to hear from other shareholders who agree with me. Please message me here, or leave a feedback at inelegantinvestor.com, where I hope to have posted a more detailed set of concerns in the next few days. Link to comment Share on other sites More sharing options...
gfp Posted June 22, 2016 Share Posted June 22, 2016 I get your point - but it does appear that they are working as hard as possible to get the SEC filings correct and out and then have an annual meeting to drastically increase disclosure. I am willing to give them the benefit of the doubt as they took on a total mess of a company. It honestly couldn't be any worse than previous management Link to comment Share on other sites More sharing options...
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