Author Topic: SYTE - Enterprise Diversified  (Read 238795 times)

TBW

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Re: SYTE - Sitestar
« Reply #410 on: April 10, 2018, 11:46:07 AM »
I agree with Tim.  Kiel's comp is a silly issue here.  A point that is missed, his bonus is a multiple of 100k, so if assets were to go up 20x, his bonus as it is written now, would still only be a multiple of 100k.  Huge operating leverage for shareholders and I think a great deal for shareholders.

You could have bought shares at $0.05 if you wanted to, just had to pick up the phone, they didn't sell all they wanted to.  If you aren't accredited, that rule is unfair imo, then yes you can complain there but that isn't SYTE's fault.

The optics of certain things does look poor, but having had many conversations with these guys they all clear up once you understand the restrictions they were under.  That is my opinion, you are certainly welcome to yours and I suppose time will tell.


rkbabang

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Re: SYTE - Sitestar
« Reply #411 on: April 10, 2018, 12:01:37 PM »
My only problem with the name is that it is so generic sounding.  "Enterprise Diversified"  Enterprise is such a generic word, its like calling it Company, Inc.

Why not Sitestar Diversified or something else memorable, Melrose Diversified?

Oh well, I guess it doesn't really matter.


John Hjorth

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Re: SYTE - Sitestar
« Reply #412 on: April 10, 2018, 12:56:21 PM »
I agree with Tim.  Kiel's comp is a silly issue here.  A point that is missed, his bonus is a multiple of 100k, so if assets were to go up 20x, his bonus as it is written now, would still only be a multiple of 100k.  Huge operating leverage for shareholders and I think a great deal for shareholders.

You could have bought shares at $0.05 if you wanted to, just had to pick up the phone, they didn't sell all they wanted to.  If you aren't accredited, that rule is unfair imo, then yes you can complain there but that isn't SYTE's fault.

The optics of certain things does look poor, but having had many conversations with these guys they all clear up once you understand the restrictions they were under.  That is my opinion, you are certainly welcome to yours and I suppose time will tell.

That is always true, Tim. [ : - )  ]

Disclaimer: No skin in the game here. My showstopper for even diving just a bit deep into this investment is: The plumming businessess, serial aquired. I might be wrong about theese kind of businesses in the US, but I have my own personal operational experience here in Northern Europe with having such colleagues. I ended up very angry, my subordinates scared out of their minds - they,  still continuing stealing from warehouse stocks - while security tightned and tightned - thinking: "What?! - Aren't we allowed to steal from our employer anymore?"
« Last Edit: April 10, 2018, 12:59:14 PM by John Hjorth »
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NBL0303

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Re: SYTE - Sitestar
« Reply #413 on: April 10, 2018, 01:11:09 PM »

You could have bought shares at $0.05 if you wanted to, just had to pick up the phone, they didn't sell all they wanted to.  If you aren't accredited, that rule is unfair imo, then yes you can complain there but that isn't SYTE's fault.


Thank you for your insights.  I have a question about this that maybe you or someone else who is familiar with Sitestar and their private offering could help with: For the shareholders who purchased those 5 cent shares in private transactions - were they/are they restricted from selling them for a certain amount of time?  I realize they were probably restricted with stock legend issues/etc. but if a shareholder participated in the private offering, could they go about the process of getting them registered, the legend removed, whatever - and sell them on the open market - or was that restricted for a certain amount of time?

LR1400

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Re: SYTE - Sitestar
« Reply #414 on: April 10, 2018, 01:21:07 PM »
I agree with Tim.  Kiel's comp is a silly issue here.  A point that is missed, his bonus is a multiple of 100k, so if assets were to go up 20x, his bonus as it is written now, would still only be a multiple of 100k.  Huge operating leverage for shareholders and I think a great deal for shareholders.

You could have bought shares at $0.05 if you wanted to, just had to pick up the phone, they didn't sell all they wanted to.  If you aren't accredited, that rule is unfair imo, then yes you can complain there but that isn't SYTE's fault.

The optics of certain things does look poor, but having had many conversations with these guys they all clear up once you understand the restrictions they were under.  That is my opinion, you are certainly welcome to yours and I suppose time will tell.

That is always true, Tim. [ : - )  ]

Disclaimer: No skin in the game here. My showstopper for even diving just a bit deep into this investment is: The plumming businessess, serial aquired. I might be wrong about theese kind of businesses in the US, but I have my own personal operational experience here in Northern Europe with having such colleagues. I ended up very angry, my subordinates scared out of their minds - they,  still continuing stealing from warehouse stocks - while security tightned and tightned - thinking: "What?! - Aren't we allowed to steal from our employer anymore?"

With you. Though I have a friend who does ok in HVAC, I don't think it is a business I want to own. I can't see the ability to scale beyond local. I'm sure others can.

Tim Eriksen

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Re: SYTE - Sitestar
« Reply #415 on: April 10, 2018, 02:21:53 PM »

You could have bought shares at $0.05 if you wanted to, just had to pick up the phone, they didn't sell all they wanted to.  If you aren't accredited, that rule is unfair imo, then yes you can complain there but that isn't SYTE's fault.


Thank you for your insights.  I have a question about this that maybe you or someone else who is familiar with Sitestar and their private offering could help with: For the shareholders who purchased those 5 cent shares in private transactions - were they/are they restricted from selling them for a certain amount of time?  I realize they were probably restricted with stock legend issues/etc. but if a shareholder participated in the private offering, could they go about the process of getting them registered, the legend removed, whatever - and sell them on the open market - or was that restricted for a certain amount of time?

Yes they were fully restricted until Sitestar completed the legal work necessary.  In the end I think it took around 12-13 months to get removed.   

NBL0303

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Re: SYTE - Sitestar
« Reply #416 on: April 10, 2018, 03:07:01 PM »

You could have bought shares at $0.05 if you wanted to, just had to pick up the phone, they didn't sell all they wanted to.  If you aren't accredited, that rule is unfair imo, then yes you can complain there but that isn't SYTE's fault.


Thank you for your insights.  I have a question about this that maybe you or someone else who is familiar with Sitestar and their private offering could help with: For the shareholders who purchased those 5 cent shares in private transactions - were they/are they restricted from selling them for a certain amount of time?  I realize they were probably restricted with stock legend issues/etc. but if a shareholder participated in the private offering, could they go about the process of getting them registered, the legend removed, whatever - and sell them on the open market - or was that restricted for a certain amount of time?

Yes they were fully restricted until Sitestar completed the legal work necessary.  In the end I think it took around 12-13 months to get removed.   

Thank you, Tim!  So any purchasers of those shares are now free to sell them?  I don't have a problem with that or anything I'm just curious.

InelegantInvestor

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Re: SYTE - Sitestar
« Reply #417 on: April 10, 2018, 03:16:56 PM »

You could have bought shares at $0.05 if you wanted to, just had to pick up the phone, they didn't sell all they wanted to.  If you aren't accredited, that rule is unfair imo, then yes you can complain there but that isn't SYTE's fault.


Thank you for your insights.  I have a question about this that maybe you or someone else who is familiar with Sitestar and their private offering could help with: For the shareholders who purchased those 5 cent shares in private transactions - were they/are they restricted from selling them for a certain amount of time?  I realize they were probably restricted with stock legend issues/etc. but if a shareholder participated in the private offering, could they go about the process of getting them registered, the legend removed, whatever - and sell them on the open market - or was that restricted for a certain amount of time?

Yes they were fully restricted until Sitestar completed the legal work necessary.  In the end I think it took around 12-13 months to get removed.   
It's interesting. One of the big reasons given for the huge discount was that the shares were restricted. If they were indeed only restricted for one year, does not seem to at all justify the 50% discount.

Tim Eriksen

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Re: SYTE - Sitestar
« Reply #418 on: April 10, 2018, 06:43:43 PM »
Buyers are free to sell as far as I know.  As I recall the discount was closer to 35 to 40% (.05 vs. market of .08).  Not trying to nitpick.  At the time I had no way of knowing how long the restriction would last.  If purchasers might have to pay some of the cost.  What the opportunity cost in holding would be.  How well the company would perform. etc.

I bought in my fund, but I chose not to present it to Solitron's board at the time thinking it would be a tough sell as the first purchase.  Oops. 

DTEJD1997

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Re: SYTE - Sitestar
« Reply #419 on: April 10, 2018, 10:01:27 PM »
My only problem with the name is that it is so generic sounding.  "Enterprise Diversified"  Enterprise is such a generic word, its like calling it Company, Inc.

Why not Sitestar Diversified or something else memorable, Melrose Diversified?

Oh well, I guess it doesn't really matter.
There is a problem with this name change.  I do not know if it is intentional or not.

The problem is that it is so generic, it is going to play havoc with search engines.  That is, a prospective investor, OR anybody else wishing to research the company will type in "enterprise diversified" and it will come back with false positive hits.

Obviously, somebody who has good "Google-Fu" can work around this...but it will require more time & energy & will also require knowledge of how to search.

I often wonder if some companies do this on purpose to fly under the radar or hideout from prying eyes?