Author Topic: SYTE - Enterprise Diversified  (Read 266474 times)

Spekulatius

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Re: SYTE - Enterprise Diversified
« Reply #870 on: February 26, 2020, 05:29:30 PM »
Form D out from SYTE/ENDi: https://www.sec.gov/Archives/edgar/data/1096934/000109693420000001/0001096934-20-000001-index.htm

So...the stock is apparently undervalued, yet they're filing to issue 70,000 shares (or 2.75% of shares outstanding) as equity compensation.

Are they short on cash? Why would you dilute yourself (and more importantly, minority shareholders) down here?

Yes, they indeed are short on cash, as stated before in this thread.
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Edward

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Re: SYTE - Enterprise Diversified
« Reply #871 on: February 27, 2020, 02:35:40 AM »
It is incredible to see how smart and capable people get involved in businesses that they have no business managing. Buffett was really lucky (or maybe more competent) at the time he bought into Berkshire that the textile business wasn't worse than it was. At least they were not involved in massive cash dumpster fires or lawsuits.

I actually like their fund services business, it's a good idea. But the road to real returns on that is long.

fishwithwings

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Re: SYTE - Enterprise Diversified
« Reply #872 on: March 06, 2020, 12:31:30 PM »
I think $.24-$.26 is probably fair value. Remains to be seen whether Texas deal closes(it's just an LOI) and what the financing looks like. If it throws off a million a year in EBITDA like GA, and financing is non-dilutive, it's a great deal. But we have seen no financials thus far.

I've been in this a long time and have confidence in management that has delivered for me in a big way, but I wouldn't have aggressively bought at $.26. I have a lot of reasons to hope these guys are right though.

The coronavirus situation isnít going to help the stock - down 50%

Spekulatius

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Re: SYTE - Enterprise Diversified
« Reply #873 on: March 06, 2020, 04:15:21 PM »
I think $.24-$.26 is probably fair value. Remains to be seen whether Texas deal closes(it's just an LOI) and what the financing looks like. If it throws off a million a year in EBITDA like GA, and financing is non-dilutive, it's a great deal. But we have seen no financials thus far.

I've been in this a long time and have confidence in management that has delivered for me in a big way, but I wouldn't have aggressively bought at $.26. I have a lot of reasons to hope these guys are right though.

The coronavirus situation isn’t going to help the stock - down 50%

Between PRKA, NC and NKR.OL, it’s not going to be a great year. I still don’t get what they even saw in PRKA and how they deal with the fact that they acquire a huge (for them) position in a total illiquid stock.
« Last Edit: March 06, 2020, 04:36:39 PM by Spekulatius »
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roark33

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Re: SYTE - Enterprise Diversified
« Reply #874 on: March 06, 2020, 04:17:46 PM »
First year will be the last.

Spekulatius

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Re: SYTE - Enterprise Diversified
« Reply #875 on: March 06, 2020, 04:37:24 PM »
First year will be the last.

I hope not. I kind of like these guys, but I sure didnít want to have my money with them right now.
Life is too short for cheap beer and wine.