Author Topic: SYTE - Enterprise Diversified  (Read 222573 times)

bci23

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Re: SYTE - Sitestar
« Reply #350 on: March 29, 2017, 08:10:08 AM »
No offense, but that's a pretty unsatisfactory answer. If you do this for a living, by managing a fund, then you certainly may have an obligation to know what's happening at the meeting, may have the funding to do so, and certainly have the time to do so. Other passive investors, who might have 10,000 invested in this company can't justify the expense of 500-1000 of doing that trip, or may not have the time. With current technology, it's very cost efficient to webcast this sort of thing, and it should absolutely be offered by all companies whose shareholders can't all attend.

Why are you holding SYTE to a different standard when literally 99.99% of companies don't webcast the annual meeting?


rkbabang

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Re: SYTE - Sitestar
« Reply #351 on: March 29, 2017, 08:16:16 AM »
No offense, but that's a pretty unsatisfactory answer. If you do this for a living, by managing a fund, then you certainly may have an obligation to know what's happening at the meeting, may have the funding to do so, and certainly have the time to do so. Other passive investors, who might have 10,000 invested in this company can't justify the expense of 500-1000 of doing that trip, or may not have the time. With current technology, it's very cost efficient to webcast this sort of thing, and it should absolutely be offered by all companies whose shareholders can't all attend.

Why are you holding SYTE to a different standard when literally 99.99% of companies don't webcast the annual meeting?

I agree. That is why I asked the question, but didn't criticize the answer. The vast majority of companies don't do this. I wish they did though. It is almost a zero cost to do this in 2017.

mrholty

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Re: SYTE - Sitestar
« Reply #352 on: March 29, 2017, 11:08:13 AM »
I've gone to a number of meetings in person.  Leading up to the events I have often second guessed "is it worth it?"

The answer is this.  There hasn't been a single annual meeting that I've attended that I've regretted attending.

As for the value of the information.  You can learn about 1/10th of a company from their SEC filings (this is generous), and somewhere between 3/10 and 1/4th from talking to people at the company.  My experience has been phone conversations are a lot less productive compared to an annual meeting.  With a phone call you're interrupting their day.  At the annual meeting they have carved out time to stand around and talk, exactly what you need.

There are usually a lot of employees at these things too.  For those of you into scuttlebutt this is a gold mine.  Where else can you go and just stand around drinking free crappy coffee, eating giant cookies and asking people "why do you manufacture the way you do? What other approaches have you explored? How do your competitors do it?" and have employees answer candidly and constructively.

There has been more than one occasion where my pre-conceived notion of a company from their financials was shattered with a short conversation with management.  Once they let me in on the secret I realized that it would be almost impossible to triangulate their business just from reports.

Oh and lastly the networking.  These things are great for networking.  I should state my biases here too.  I'm an extremely extroverted person, I love to talk and love meeting people.  You need to go up to people and start conversations for there to be value.  You can't stand around and wait for the party to happen to you, you need to make it happen.  But if you enjoy that stuff, and can get a conversation rolling then you'll do fine.

I'm mostly a lurker nowadays.  But I have to agree with this 100%.  I have been to 3 shareholder meetings in my life.  I've posted how I let greed on 1 investment kill me and then 2 subsequent investments cause me chase and double down on bad investments.  One of those I went to the Shareholder meeting, met with a bunch of small investors like myself and had a great time and discussions.  Mgmt of this small cap knew that they were going to get a group of small investors so really put on a good show.  Some of us were extremely impressed - I was not.  I saw a factory floor that looked out of date and no production.  The Q&A with management was odd too.  I didn't like the story as it didn't match with what I saw and the staff body language didn't quite hold.  On my flight home my gut told me to get out and I sold 30% the following week.  Then I listened to kool-aid and got sucked back into the story.  The only thing that had kept me in the stock was a discussion with an engineer who had left a year before.  He told me at the shareholder meeting that the technology worked but that he left because he didn't like the CEO but he still held his options.  Over the next few years I learned that he was right but that the engineering team after he left somehow made the final product worse than when he was there.  A complete shit show.  If you are ever on the fence, go.

TBW

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Re: SYTE - Sitestar
« Reply #353 on: April 05, 2017, 05:28:21 AM »
Last year there was a meet-up for all shareholders and non-shareholders the night before the SYTE shareholder meeting in Charlotte.  A great group of people gathered and we had a lot of fun.

A fellow shareholder and I want to organize something similar this year on Sunday May 21st.  We are hoping to make this dinner an annual event.  Please note, this is an unofficial event and not organized or affiliated with SYTE.

If you are interested, please fill out your details here http://sytedinner.com/.  Once we get a sense of numbers, we will pick a suitable spot, and email everyone the details.

Hope you can join us.  If you have any additional questions please PM me.

rkbabang

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Re: SYTE - Sitestar
« Reply #354 on: April 26, 2017, 05:02:46 PM »
« Last Edit: April 26, 2017, 05:07:35 PM by rkbabang »

gfp

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Re: SYTE - Sitestar
« Reply #355 on: April 28, 2017, 08:44:08 AM »
Regulatory trading halt at the moment it seems.  News pending?

InelegantInvestor

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Re: SYTE - Sitestar
« Reply #356 on: April 28, 2017, 09:20:10 AM »
On the OTC markets site...
Notice:
Due to a Market Data Feed Issue, FINRA has halted 271 Securities. Trade and quote data is not being updated on www.otcmarkets.com for these securities.
We will provide an update when this issue has been resolved.

TBW

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Re: SYTE - Sitestar
« Reply #357 on: May 10, 2017, 08:01:45 AM »
Just a reminder to those attending the SYTE annual meeting there will be a dinner/meetup the night before.  There have been a decent amount of people who have signed up.  If you want to join us please let us know here http://sytedinner.com/ so we have a sense of numbers and can book an appropriate spot.

Hope to see you all in Charlotte

rkbabang

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Re: SYTE - Sitestar
« Reply #358 on: May 16, 2017, 06:09:03 AM »
1Q earnings are out.  At a quick glance it looks like all segments except real estate were profitable.  Earned $0.00067 per share.

https://www.otcmarkets.com/stock/SYTE/filings

Read the Footnotes

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Re: SYTE - Sitestar
« Reply #359 on: May 16, 2017, 07:54:46 AM »
Just a reminder to those attending the SYTE annual meeting there will be a dinner/meetup the night before.  There have been a decent amount of people who have signed up.  If you want to join us please let us know here http://sytedinner.com/ so we have a sense of numbers and can book an appropriate spot.

Hope to see you all in Charlotte

Thank you, TBW, for the excellent organization of this event.