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I really thought ihsstf was the one who got those 4's...
a whole bunch of new A's too..
"This Form 10-K/A for the year ended December 31, 2013 is being filed to correct misstatements in the certifications (Exhibits 31.1, 31.2 and 32) filed with the original filing and does not reflect any changes to the Form 10-K itself. The filings are being filed in their entirety to comply with Item 601(b)(31) and (32) of Regulation S-K."
9 board members???
I nominate Dave Ramsey.
So you buy undervalued companies..
And thank you for seeing it... Now, how do you get out? How do you cash out without taking it back to that $.01 again.. because we are not so liquid...
So what you got in it? $300K to try and somehow force this stock up.. with some petty filing deadline.. BTW.. why didn't you take this role when on the board.. to make sure filing deadlines were met? I refuse to believe Frank would not have let you handle this task.
Dash.. Please save us!!! lol...
"a rental property portfolio barely progressing,"
This might be the speed at which Jeff wants....
Jeff might be like... Scott
People are different Jeff....
Some are far more methodical. Slow moving.. And this might be why Frank is successful. Like The Wooster Brush Company.. Debt free.. slow methodical growth.
Plus.. The added cost at which must have for speed..
So open ALL YOUR flips.. Show us what YOU have done. Make your list and show us what you have done and your success on every home, every rental, ever flip you did.. Tell us who you are..
Other than a Pirate.. An immature name... more immaturity IMO.. You see that $2 million their don't you.. hungry for it.. It will make you rich huh?
http://www.ragnarisapirate.blogspot.com/
I think this is whining... Oh such detail..
Amen... This is the way I see it. Less being conservative.
Private equity wants to leverage. They want to take those properties and create more cash. In my opinion, in today's market it is risky. The most successful companies I know are those with good plans and slow growth. Imo, Private equity will care about themselves not a shareholders.
How about a reverse split convertible debit move? Leave us out to dry. It is about trust. So Jeff must build trust. A fight does not build my trust.
Holding somebody accountable for things they should be doing is okay. But if you read his blog he wants to be like Burkeshire Hathaway. But how are we to know he has to buffet ethics? Is this ego driven?
Arquitos Capital Partners
naïve?
So how do we not know they are pump and dump?
What could happen when all this conflict happens in January?
Any predictions?
What do you want Wick?
A good solid pick..
Total stockholders’ equity $3,925,525
book $0.053
This might be a buy right now..
Includes this..
Notes payable 900,615
Which could go away.. if.. "The Company is currently involved in litigation with USAT, a company that sold us their dial-up customer base in November 2007. SiteStar has counter filed and believes strongly that it will prevail in this litigation. The liability has been carried on the balance sheet only because the plaintiff has refused to acknowledge the financial assistance given to prevent the loss of customers during the time period they refused to hand over the data base of the customer list that was purchased. In addition, they continued to bill and collect revenue from the customers they no longer owned. Management does not anticipate any significant financial detriment to result from this litigation. Should the litigation result in a liability, the Company has ample resources to draw from to satisfy the liability."
meaning book of $.065
74,085,705
A. Jeffrey I. Moore beneficially owns 5,423,373 shares.
B. Julia H. Moore beneficially owns 758,489 shares.
C. Jay B. Moore beneficially owns 648,675 shares.
D. William T. May beneficially owns 218,000 shares.
E. M & M Investments beneficially owns 1,187,360 shares.
F. Arquitos Capital Partners, LP beneficially owns 3,772,145.
plus that 48K
Total 12,056,042
Frank has 24,583,980
Dan has 133,865
Frank only needs 12,458,947 shares to keep control...
I think they mean January 5... 2015, not 2014.
Jeffrey I. Moore
1904 Deauville Dr.
Lexington, Kentucky 40504-1310
859.230.3115
jeff.i.moore@icloud.com
ragnarisapirate@gmail.com
November 7, 2014
Via Express Mail
Frank Erhartic, Jr., President
Sitestar Corporation
7109 Timberlake Road
Lynchburg, VA 24502
Re: Request for Special Meeting of the Shareholders
Dear Sirs:
Pursuant to Article IV, Section 3 of the By-Laws of Sitestar Corporation
(Sitestar), the parties whose names appear below, the holders of shares
entitled to cast not less than one-tenth (1/10) of the votes of Sitestar,
do hearby request a special meeting of the shareholders of Sitestar to be
held at 10:00 a.m., on January 5, 2014. We are forced to take this action
due to your continued refusal to schedule an annual meeting as provided in
the By-Laws.
The special meeting is being called for the following purpose:
(i) to elect a full slate of nine (9) directors as provided in Aricle
II, Section 3 of the Bylaws.
This is a proper purpose for a special meeting as provided in Nevada
Revised Statutes 78.330.
You are directed to give notice of this special meeting in the manner
presccribed by Article IV of the By-Laws and by the Securities Exchange Act
of 1934 to all shareholders entitled to recieve such notice of the
meeting. In the event you fail to call such meeting, the undersigned will
call such meeting as permitted in the By-laws.
Very truly yous,
Jeffrey I. Moore
/s/ Jeffrey I Moore
Arquitos Capital Partners, LP
By: Arquitos Capital Management, LLC,
its General Partner
By: /s/ Steven L. Kiel
Steven L. Kiel
Managing Member
Alesia Value Fund LLC
By: Alesia Asset Management LLC, its
Managing Member
By: /s/ Jeremy K. Gold
Jeremy K. Gold
Managing Member
cc: Lynne Bolduc
Oswald and Yap APC
16148 Sand Canyon
Irvine, California 92618
Andrew M. Tucker
Vedder Price
1401 I Street, N.W.
Suite 1100
Washington, DC 20005
I think oil goes up in the spring.. Right now too many people will be placing profit sharing in the market.. IMO a good market until after the year.. Oil will be great opportunity soon.. We'll see.
If the Arabs keep the price down by free flowing oil.. the fracking will stop. They are already losing money. How long is the question?
I agree.. I too will take a chance on this one...
This could happen.. The only thing I think about is the Arabs are trying 2 things..
1) Hurt Iran with low prices and
2)hurt the fracking.. to a point they must shut them down.
Is this what is going on?
I think you begin to enter this one now.. Oil might go to below 77 but I doubt it..
Looks like a good move..
Yes.. but bought a little in the low $60s.. thinking about buying more.. but will see..
I know you saw the dollar..
"Many economists have said the ECB should have begun quantitative easing, like the Fed program, months ago to avert the threat of deflation, a downward spiral of prices that can lead to high joblessness. Annual inflation in the eurozone was 0.3 percent in August, according to an official estimate."
http://www.bostonglobe.com/business/2014/09/04/european-central-bank-start-asset-purchases-after-further-rate-cut/5jOxyBUJibntTKMkarz79K/story.html
OK.. I like it.
Does this have any type of decay or no?
It can. It is time related. Keep in mind this is only daily 3x's. You can do a perf chart and see what it is.. it likely varies.
Same as with UCO and the example is below... It is called contango.
However.. you can have the opposite effect too. This is called normal backwardation.
And this is what has happened with UPRO
Could go to $57.66 again but gut says no...
So Entered again today and will avg down should we go that way.. Pretty sure we hit get back to 65...
We'll see..
Did you try this email? investorrelations@sitestar.com
Send Frank an email...
It might not make sense to sell the dial-up.. That is the cash to do what they do... IMO..
Drizze..
There is a conflict going on...
We have a young man who bought up a huge shares of stock. He also partners with some fund managers.
He wants to make money like all shareholders. He was placed on the board.
The conflict happened because of a young man's aggressiveness. He asked for far more openness and traditionally Frank keeps things very close to the vest.
There is no trust between the men. Trust is earned. Frank has poured money, time and his wealth is built in this company. He is long.. and so is the young man. Something in common.
But people are not always loving or loyal; and when you discover this in life, you don't always trust. When you trust each other.. you believe each other.
Doing what is right... Fact is there is not total transparency at SYTE when it comes to these properties. The dial-up business is what it is an not much really needs to be said about the openness of that. The plan for this company moving is investing into homes but not much more is said about it... shareholders can let Frank do his thing, as he has already proven, he lets numbers speak for themselves.. and as the numbers build the stock might hit 10 cents like before if other shareholder's buy and believe.... or demand more info, more "this and that" for a far quicker buck, take more risk.. etc. Perhaps like young man with far less conservatism than the current leader.
The young man wants things like a clear definition of each property and direction. He is very smart and knows the housing market and flipping, renting etc. He scares Frank IMO. If you have been around for a long time, you know what you get from Frank. We don't know what you get from others.
A shareholder does not know this young man. He has involved these lawyers who I view as takeover, blood suckers... their business is a the "money" business; and frankly, these types could give a crap about a shareholder.. only their own money... they have customers to report too.. They do fear debt viewing it in many cases as spending.. and they will fully leverage to make the most possible money.. or take us to a loss.. and like banks, banks "love you" when you don't need them and make you jump through hoops when you do need them. Banks rarely lose their own money by using the law to their advantage by being first in line leaving bag holders..
The company has a good cash flow. They are taking the cash and building wealth in the housing market. The company is in a switch or transformation.
People handle conflict in different ways. The young man does it with the treat and pressure of taking control of the company. He did not have the ability to know how to "open" a man up like Frank.
Perhaps Frank too was so cautious he did not listen or understand after several attempts and ideas to reverse split or sell off things or liquidate the company, who knows? There are consequences to what you do.
It would surprise me to see the stock fall below $.04 per share. A blogger pointed out book value.
As for the market trends of this company.. I see the risk in this company based on what the Fed decides to do.. If they stop QE then will people stop buying homes because interest rates rise.. will these same people rent? Anybody's guess.
As for the control of this company.. Balance seems to be like gravity... it happens. I think good is coming IMO..
When you get married.. over time the honeymoon period always ends and the true mask come off.. Love is always a decision.. a choice. If one makes the choice not to love.. it is over. If both do make the choice to love.. it can be most beautiful.
Here are the key components you’ll need to get along better with your spouse immediately:
Make Getting Along Your Goal
One of the reasons couples fight is because they lose sight of what their goal should be. My goal is to have a happy and nurturing relationship. What’s yours?
I’ve found couples who fight often have bad goals. Their goal is usually proving themselves right and not building a loving relationship. Always keep your goal in mind and make sure your actions are aligned with your goal – this may mean resisting the urge to point out how right you are no matter how much evidence you have.
Accept Your Spouse
Most couples don’t get along because they are constantly wishing their spouse was someone else: a better listener, a thriftier spender, a sexier lover, etc. This type of wishful thinking is harmful to your relationship and will only lead to frustration because you can’t change anyone who doesn’t want to change.
So if you are trying to do just that, stop right now and save your energy for something more productive. Accept your spouse for who they are and change your reaction to their “bad” habits. Keep in mind that just because you can’t change your spouse, it doesn’t meant they can’t change themselves. The important thing to remember is that it’s their choice and right, not yours.
Give Them the Benefit of the Doubt
Almost all disagreements between loving couples occur due to miscommunication. What’s ironic is that two people miscommunicating don’t know they are doing so or else they would stop. No matter how big the argument, keep in mind that you got married because you care for, trust and love each other. One of the best ways to handle miscommunication is to always give your spouse the benefit of the doubt and be curious why someone with good intentions would act the way they did.
So how do you become curious?
Ask – Don’t Interpret
Most fights happen because we misinterpret our spouse’s actions or expressions. Just because our spouse yawns while we talk, it doesn’t mean what we are saying is boring. There is a good chance that it was a long and tiring day but then again maybe it was because we’re boring. The only way to know for sure is to ask. Hopefully by now, you’ve built up a trusting and accepting relationship where your spouse can tell you the truth without any negative consequences.
Be specific when you ask your spouse questions and don’t assume. Instead of “Why are you mad?”, you can ask “I noticed that you are pursing your lips and furrowing your brow, what does that mean?”
Of course that example may be a bit extreme but you get the point.
Before you assume you know what your spouse is feeling, ask them to clarify the specific actions (i.e. loud voice) they are exhibiting as opposed to reacting to your own interpretation of their action. You’ll be surprised at how many fights end because of open communication. Listen not only to the words but also the underlying emotions.
Men and women communicate differently and unfortunately they are really bad interpreters for each other. Let the other person translate for you because John Gray was right – Men are from Mars and Women are from Venus.
Give Each Other Space
This may sound strange but one of the key reasons my wife and I get along is because we have our own lives outside of each other. That sounds bad but it actually works out really well.
We work in separate companies and have our own hobbies/interests. We have “common” friends whom we hang out with together and our “own” friends whom we hang out with apart. Striking a good balance between being together and being apart really helps to keep the relationship strong.
Would I hang out with my spouse 24/7? Yea I would be able to and I enjoy her company very much but for some reason having and pursuing our own interests just works.
I understand that this may still be a bit counterintuitive for you but I encourage you to try it and then decide for yourself.
The only time where giving each other space would be bad is if the purpose (and you know your purpose) was to get away from each other because you can’t stand each other. If that is why you’re getting out of the house, you really want to explore what makes you feel that way towards your spouse and to openly communicate this issue as soon as possible.
Respect, Appreciate and Admire
I used to take people closest to me for granted. The closer they were, the more I took them for granted. I rarely said thank you and I didn’t show them the appreciation they deserve.
Being aware of this, I strived to change my behavior and I can see a real difference in my relationship with those closest to me.
It is no difference for those who own a business together.
I have found a young man who is not married has no clue.. and men who have great pain in life can always learn.
Now.. open up! Lets go make some money.
PS.. the "capital" brothers are trickster.. beware
When you see this.. FORM 424B5
Beware.. that is a good time to sell..
http://www.sec.gov/Archives/edgar/data/1378140/000143774914006184/optt20140404_424b5.htm
As of February 28, 2014, the number of outstanding shares of common stock of the registrant was 13,755,519.
June 30, 2013 was 10,355,140.
Of course they already had the shares at that time is my bet... and like I said, I have no idea how they move it.. but they do.
I suppose it was the "Grant" PR.. I wonder how much the politician got?
Just classic.. Just classic.
Congrats to all who could see it.. and well, sorry for those who lost.. but you learn about these convertible debt deals with questionable products to pricey for the market or "dream" product.. It is very rare a dream product is.. legit.
thing is.. They have more to play with!
Common stock to be Outstanding Immediately After this Offering
17,555,785 shares of common stock..
It might just pop one more time?? I have seen that happen too!
The lawsuit is a joke. These lawyers are just as shady in my mind. This stock was somewhat predictable to me..
First, the product is not "Scalable" from a economic standpoint. Only a taxpayer can support a business like this.
Second, I always felt the managers were over compensated.
I must admit, I was surprise how far up theses lenders and MM were able to move it.. I sure wish I had been more greedy and not so conservative. A two bagger would have been a great thing.
IMO.. it is going to now bounce off the $1 a few times.. Might be a good time to exit... Any who bought it in the $1.50's+ last year might be best to take your medicine and get out.. Or get lucky and flip it a few times.. but that is risky.
She can make it strong as long as she wants...
Oil could go below $90...
Anybody see the connection?
"Steven Kiel, a Biglari Holdings shareholder and president at Arquitos Capital Management in Annandale, Va., expects Biglari to sell his stake as a shareholder in Cracker Barrel over time. Biglari is now the largest shareholder, owning just under 10 percent of the company."
Ok so I assume Dash sold him his shares.. Dash and Biglari are connected.. Who knows..
F. Arquitos Capital Partners, LP beneficially owns 3,734,145
Maybe all in it together.. .
http://archive.tennessean.com/article/20111221/NEWS03/120912027/12-21-11-Cracker-Barrel-board-won-t-include-Sardar-Biglari
http://www.cornerofberkshireandfairfax.ca/forum/archives/jonathan-dash-and-sardar-biglari-(relationship-and-how-they-compare)/
I suppose this company has been a target for some time now.. I suppose they need about 21 million shares..
Wick...
Hummm??? 70.41
any thoughts??
A mayor of a community just north of Indy recently paid a writer of the New York Times to write an article or blog about how well the city is being run by the current Mayor. The Mayor bought the article and beat up on a very vocal Mayoral candidate who did not like the fact the city was being taking into a $ billion debt for a community with only 80k residents.. the mayor had all these finance schemes where the State did not have laws to protect this city. New legislation was passed to stop this abuse this year.
A company I once owned, who's CEO is now in jail, paid people like this blog to write things.. plans.. etc.. The intent was to pump the stock so they could sell..
http://www.scavengerreport.com/2014/06/18/sitestar-corporation-strange-happenings-at-this-tiny-real-estate-play/
It would not surprise me if Arquitos Capital Partners, LP or Moore did not do the same here.
They want this company in play.. not to help us and support shareholders.
Look at the conclusion and tell me what you think?
This is what I am thinking... When they liquidate.. We will be done, finished.. It will be all over. No more SYTE..
Did you read that blog of his? Read between Mr. Nice guy stuff..
We might get to 6 but never to 10+
My bet is he wants to play all these reverse split take shares game... Thinking more on wallstreet will want these shares. The business plan is too new.. It won't work.
This company now has products that are not at the end of the life cycle and Frank took us to 10 once.. I honestly believe he will do it again.
Jeff,
"One of the things that they had called for, was a nationally recognized real estate firm to come in and appraise all of the real estate holdings of the company... For reasons that I will address, I believe that this should be done, with the results being made public, so that investors can get a good idea of how to properly value the company."
This seems to be Jeff's plan for SYTE.. That is going to be the proposal IMO...
So let's liquidate the company... And perhaps in exchange for his shares, he will be happy to trade it for some of those properties SYTE now owns. Pretty easy to buy up a few shares of stock.. then demand "oh how bad things are.." then have some sleazy lawyer negotiate a few properties.. Is this the plan? Take equity.. assets and potential equity..
So Jeff. since you can now drive the stock down to $.01 again.. but would lose.. it this your plan to exit?
David