Sitestar Corporation Posts Profits in Third Quarter 2005 Wednesday, November 16, 2005 11:31 AM – PrimeZone
**Profitable 5 straight quarters, first 3 quarters 05 and for the full yr 2004.
•Proving Strategy Works – Future Looks Bright: **Primary growth strategy is to acquire Internet customers through acquisition. Have clearly demonstrated that can make a profit from such operations. Company has emphasized that Economy of Scale will lead to growing profits.
Recently acquired a profitable company that doubled SYTE’s revenue and quadrupled earnings. Earnings per share were .005, but as a result of acquisition, have quadrupled $.02.
•Current Estimated Value: **P/E = 2.6 Avg P/E for similar profitable company's = 24 If SYTE traded at average P/E, share price would = .48
•Reduced Shares: Sitestar Corporation Cancels 20% of Its Issued Shares, Wednesday, December 01, 2004, 3:27 PM - BusinessWire.
•Rid itself of CD: Sitestar Pays off Ex-Convertible Debenture Holders, Monday, February 28, 2005, 11:21 AM - BusinessWire.
•No’s: No convertible debentures, No S-8’s, No preferred stock issued. No outstanding litigation/lawsuits. No R/S per CEO. No deals with Laurus or Cornell. No share dilution used for last few acquisitions. No outrageously high salaries for CEO and counterparts.
Posts: 74 | From: Midwest | Registered: Dec 2003
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