Author Topic: SYTE - Enterprise Diversified  (Read 211926 times)

rkbabang

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Re: SYTE - Sitestar
« Reply #80 on: February 09, 2016, 06:08:23 AM »
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.


bizaro86

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Re: SYTE - Sitestar
« Reply #81 on: February 09, 2016, 06:58:49 AM »
It's entirely possible I don't "get" domains, but what would you expect first.com to get used for?

rkbabang

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Re: SYTE - Sitestar
« Reply #82 on: February 09, 2016, 07:40:18 AM »
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/

rkbabang

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Re: SYTE - Sitestar
« Reply #83 on: February 09, 2016, 07:43:26 AM »
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.
« Last Edit: February 09, 2016, 08:20:32 AM by rkbabang »

Travis Wiedower

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Re: SYTE - Sitestar
« Reply #84 on: February 09, 2016, 08:19:22 AM »
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.
My investing blog: Egregiously Cheap

rkbabang

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Re: SYTE - Sitestar
« Reply #85 on: February 25, 2016, 09:34:02 AM »
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. "

Travis Wiedower

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Re: SYTE - Sitestar
« Reply #86 on: February 27, 2016, 11:18:06 AM »
A company has less shares outstanding than it claimed... never seen that before.
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InelegantInvestor

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Re: SYTE - Sitestar
« Reply #87 on: February 27, 2016, 05:30:43 PM »
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.

Parsad

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Re: SYTE - Sitestar
« Reply #88 on: February 27, 2016, 09:27:01 PM »
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?

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rkbabang

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Re: SYTE - Sitestar
« Reply #89 on: March 07, 2016, 01:37:05 PM »
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