Author Topic: SYTE - Enterprise Diversified  (Read 210453 times)

Sunrider

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Re: SYTE - Sitestar
« Reply #300 on: January 31, 2017, 11:39:28 AM »

To clarify, I did indeed mean the second 0.05 offering, not the first one done to take over the company from the original CEO.

On the fligpside, the .048 offer was open to all qualified investors if I recall correctly.
C.

I do not believe this to be the case. Please show me that it is, so that I can correct my public statements, if necessary.

It's true, I contacted them and was sent subscription information.  There are rules about companies soliciting for rights offerings.

I'm watching something similar in Aztec Land and Cattle.  They held a rights offering last year, and one this year.  To an outside observer it's just happening.  There are 'special' stockholders who are backstopping it.  But I also know that anyone accredited can subscribe, but you need to call the company and let them know you're interested.  The backstock shareholders were just a few individuals who were in contact with the company and in a position to move on this.

I'll say this on the situation.  I think optics matter, Inelegant from your vantage point you have a lot of well founded points and I understand your perspective.  I've also seen how the sausage is made so to speak and see the other side.

If this was a vanilla company where I didn't know the people involved personally I'd be very worried about perceived red flags.  But after seeing behind the curtain I understand what's going on and I don't have the same view.

I don't want to speak for Steve, but I think they're doing their own filings.  My guess is they're overly conservative in what they're releasing because they don't want to find themselves in a legal nightmare regarding disclosure.

In the end everyone needs to make their own decisions.  I agree with Sanjeev that most outside investors underestimate the amount of work anyone running a company has to do.  It's easy to pick apart what a company is doing from afar, but when actually in the weeds it's difficult to keep all the balls in motion.
Just to clarify, are you saying you received subscription information for the first offering or the second?
In the Aztec situation, they proactively reached out to shareholders to see who might be interested in participating. Even shareholders with very small stakes. I appreciate your understanding. The real tragedy is how unnecessary this was. They could have accomplished exactly the same things while being respectful of all shareholders. That they chose not to is, in my mind, quite telling.


InelegantInvestor

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Re: SYTE - Sitestar
« Reply #301 on: January 31, 2017, 11:43:48 AM »

To clarify, I did indeed mean the second 0.05 offering, not the first one done to take over the company from the original CEO.

To clarify, they had already taken over prior to the first offering. The offering doubled the shares outstanding and gave Mr. Kiel more than a majority.

oddballstocks

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Re: SYTE - Sitestar
« Reply #302 on: January 31, 2017, 12:48:18 PM »
On the fligpside, the .048 offer was open to all qualified investors if I recall correctly.
C.

I do not believe this to be the case. Please show me that it is, so that I can correct my public statements, if necessary.

It's true, I contacted them and was sent subscription information.  There are rules about companies soliciting for rights offerings.

I'm watching something similar in Aztec Land and Cattle.  They held a rights offering last year, and one this year.  To an outside observer it's just happening.  There are 'special' stockholders who are backstopping it.  But I also know that anyone accredited can subscribe, but you need to call the company and let them know you're interested.  The backstock shareholders were just a few individuals who were in contact with the company and in a position to move on this.

I'll say this on the situation.  I think optics matter, Inelegant from your vantage point you have a lot of well founded points and I understand your perspective.  I've also seen how the sausage is made so to speak and see the other side.

If this was a vanilla company where I didn't know the people involved personally I'd be very worried about perceived red flags.  But after seeing behind the curtain I understand what's going on and I don't have the same view.

I don't want to speak for Steve, but I think they're doing their own filings.  My guess is they're overly conservative in what they're releasing because they don't want to find themselves in a legal nightmare regarding disclosure.

In the end everyone needs to make their own decisions.  I agree with Sanjeev that most outside investors underestimate the amount of work anyone running a company has to do.  It's easy to pick apart what a company is doing from afar, but when actually in the weeds it's difficult to keep all the balls in motion.
Just to clarify, are you saying you received subscription information for the first offering or the second?
In the Aztec situation, they proactively reached out to shareholders to see who might be interested in participating. Even shareholders with very small stakes. I appreciate your understanding. The real tragedy is how unnecessary this was. They could have accomplished exactly the same things while being respectful of all shareholders. That they chose not to is, in my mind, quite telling.

I don't remember which, probably the second offering.

Friends of friends seed investing. well played sir

Nate and Jeff at the very least are very honorable men from all of my interactions with them. I don't think the implication that there are special favors going on is fair to them, or to Kiel himself.

Subjective

I never purchased any shares, I just inquired and was sent material.

Scott, appreciate the kind words. 

Premfan, sorry to see you have such a poor opinion of me based on your own alternative facts.

Oh no judgement on you. I followed you since the beginning of the micro cap network phenomena. You are a great story teller and marketer.

Ah, sorry, I misunderstood.  Classic mistake from just reading vs speaking etc. 
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rkbabang

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Re: SYTE - Sitestar
« Reply #303 on: February 02, 2017, 11:32:50 AM »
Two more form 4's today: http://www.otcmarkets.com/stock/SYTE/filings

Arquitos Capital Partners, LP acquires 60,000,000 shares @ $0.05

Jeffery Moore acquires 1.5M shares directly and 3M indirectly @ $0.05

So it looks like with these transactions the company raised another $3.225M in cash and issued another 64.5M shares.

gfp

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Re: SYTE - Sitestar
« Reply #304 on: February 06, 2017, 06:24:24 AM »
A bit more than that -
https://www.sec.gov/Archives/edgar/data/1096934/000072174817000058/0000721748-17-000058-index.htm

Two more form 4's today: http://www.otcmarkets.com/stock/SYTE/filings

Arquitos Capital Partners, LP acquires 60,000,000 shares @ $0.05

Jeffery Moore acquires 1.5M shares directly and 3M indirectly @ $0.05

So it looks like with these transactions the company raised another $3.225M in cash and issued another 64.5M shares.

LowIQinvestor

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Re: SYTE - Sitestar
« Reply #305 on: February 06, 2017, 12:52:27 PM »
slight tangent but thought people here might know the answer:

What does it cost annually to maintain an OTC public listing?

Trying to figure out at what market cap does it simply become uneconomical to maintain.

Thanks!

andgroup

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Re: SYTE - Sitestar
« Reply #306 on: February 27, 2017, 01:15:08 PM »
Inelegant!  I am sure you are a very nice person and congrats on the baby.  But seriously man, do we have to hear you squeal like a stuck pig, every single time something happens at Sitestar?  For once it would be nice to do a search to read up on the company and not have to read everything about you and your entitlement issues.  We get it, you're mad.  You feel as though you have been morally wronged.  We've seen you on your soapbox and endured your platitudes.  Now, do we all have to keep hearing about it?  Talk about beating a dead horse.  I personally think that given the issues with the old CEO and the amount of skin that Steven had in the game already.  That his doubling of the shares, putting his money where his mouth was and taking control over the company was a pretty damn genius move.  Judging from the stock price, I cannot see how you have been anything but helped by his presence there.  If this investment operation had not moved forward, you'd still be sitting on a 3 cent stock.  If this is how petty you are about things, it does nothing but improve my confidence level in Mr. Kiel, that he had the foresight to sidestep you, and leave you out of the loop, although I seriously doubt that was his motive, but if it was that's even better.



To clarify, I did indeed mean the second 0.05 offering, not the first one done to take over the company from the original CEO.

To clarify, they had already taken over prior to the first offering. The offering doubled the shares outstanding and gave Mr. Kiel more than a majority.
« Last Edit: February 27, 2017, 01:20:34 PM by andgroup »

LC

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Re: SYTE - Sitestar
« Reply #307 on: February 27, 2017, 01:53:57 PM »
As someone on the outside looking in, I appreciate seeing both sides to the story.
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InelegantInvestor

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Re: SYTE - Sitestar
« Reply #308 on: February 27, 2017, 02:22:30 PM »
Inelegant!  I am sure you are a very nice person and congrats on the baby.  But seriously man, do we have to hear you squeal like a stuck pig, every single time something happens at Sitestar?  For once it would be nice to do a search to read up on the company and not have to read everything about you and your entitlement issues.  We get it, you're mad.  You feel as though you have been morally wronged.  We've seen you on your soapbox and endured your platitudes.  Now, do we all have to keep hearing about it?  Talk about beating a dead horse.  I personally think that given the issues with the old CEO and the amount of skin that Steven had in the game already.  That his doubling of the shares, putting his money where his mouth was and taking control over the company was a pretty damn genius move.  Judging from the stock price, I cannot see how you have been anything but helped by his presence there.  If this investment operation had not moved forward, you'd still be sitting on a 3 cent stock.  If this is how petty you are about things, it does nothing but improve my confidence level in Mr. Kiel, that he had the foresight to sidestep you, and leave you out of the loop, although I seriously doubt that was his motive, but if it was that's even better.



To clarify, I did indeed mean the second 0.05 offering, not the first one done to take over the company from the original CEO.

To clarify, they had already taken over prior to the first offering. The offering doubled the shares outstanding and gave Mr. Kiel more than a majority.

Not sure what baby you are talking about. Perhaps you are confusing me with Irrelevant Investor?

As for your argument, I am sorry that bothers you to see my thoughts on this stock. Not that I have shared any in a month. It would be more convincing, however, if you attempted to refute any of my claims or concerns rather than sidestep them, but that's just me. What it comes down to is that I believe strongly that integrity counts. This is the same reason I have repeatedly spoken out against Sardar Biglari. Ends do not justify means.

InelegantInvestor

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Re: SYTE - Sitestar
« Reply #309 on: February 27, 2017, 02:23:34 PM »
As someone on the outside looking in, I appreciate seeing both sides to the story.
Thank you. I acknowledge that there are two sides, and I believe that mine has some merit.