posted
No Double, I'm thinking that you will be buying 60,000 more on Tuesday. Unless you got some real good connections, the market is closed tomorrow.
Thanks for the pick, gives me something to DD on Monday.
quote:Originally posted by DOUBLE L: I will be buying 60,000 on mon. They are one of the few companies that follow threw on pr's. Share count is dropping as we speak.
posted
Sitestar is a buying dialup companies. Could be a hidden gem. Outstanding shares are 82M down from 109M. They still may retire 10M more. Should make net profit for '04. Did this by cutting cost and buying business back in June '04 and November '04. Profit should happen again in '05. You now can buy the stock around $.03-$.035. 52 week high $.06 pps. No bad CD financing. CEO owns 20M shares and does not pay himself very much. He says his goal is to increase shareholder value. Young guy too. Started is first business under the age of 18. I would not expect this one to rocket to $.50 but new of another acquisition could send it to $.06 again.
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posted
It sounds like a hidden jem and the reason for that is, nobody has the symbol. If you going to recommend a stock please give it a symbol.
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posted
Looks like it fell under support on friday and. .03 is now resistance, it may be a good play if it breaks over .03 hard definately could dip back to .022/24 range.
110 mill os, acquired a smalll puter co. couple 8-ks filed, nothing interesting on them.
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I agree, they are not interesting in as much that they have some super duper new product and false hopes that's gonna make them shoot to a $1.00 because SYTE is a real company.
but,
How many OTCBB are making profit? This is one...
Might be good doublers by May....
Funny thing about these pennies though... You just never know maybe .10-.20 too!
As for the chart stuff on SYTE... seems to change ever week! LOL..
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posted
I didn't call, cuz i'm not buying, did see the p.r. saying they CANCELLED shares past tense is good so I would trust them. But if I was laying down a ton I would call. For me chart could go either way, If it starts to go over .03 it could move, if not, you may be able to grab at a better price.
LYNCHBURG, Va.--(BUSINESS WIRE)--Dec. 1, 2004--Sitestar Corporation (OTCBB: SYTE - News), a publicly traded Internet Service Provider (ISP) and computer services company, announced today that it has recently reduced its outstanding shares by 21,783,901 or approximately 20% of the shares of the Company's common stock. The cancellations are related to the Stock Redemption Agreement of December 4, 2002 with former officers and a recent surrender of stock relating to the sale of Sitestar's software development division. Current outstanding shares are now 87,955,241. "The stock cancellation was done to further strengthen our stock price and increase shareholder value," says Frank R. Erhartic, Jr., CEO of Sitestar. "This is not the first time we have cancelled outstanding shares and it won't be the last. Earlier this year we canceled $8,859,786 shares and we are currently in the process of canceling over ten million more. Increasing shareholder value is one of my top priorities. We feel that reducing our outstanding shares, strengthening our balance sheet and increasing revenues and net profits, is a great way to do this."
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If you look at past pr's on shares being cancelled. Then look at next 10q they are gone. Not laying a lot down. If I did support would become .03. I plan on buying $1200 and flipping for 20% then watching how it plays on free share postion. I do a lot better if I see how it plays for a few weeks. Keithsan read your mail on where the money is going back into in a few weeks.
-------------------- Amazing how much time we spend looking for the truth but never spend the time to get to the point.
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