Hi guys,

I am still on the board of SYTE. If you would like to email me or call sometime during the day, I would love to chat.

Jeff

859.230.3115
ragnarisapirate(AT)gmail.com or jeff.i.moore(AT)icloud.com

Do any of you all have updated financials for WHCA that you would be willing to share? Been following CASA for a while and would like to look at the specifics of WHCA.

Here is the new one...

http://ragnarisapirate.blogspot.com/2012/05/why-i-am-13d-ing-sitestar.html

I think that it goes without saying that I am long SYTE...

RIght. Plus, as the internet business declines, the large amount of goodwill that comes with it will get impaired, which will shield the RE from taxes... It isn't a bad situation.

Such a good quarter... For me, it isn't so much the p/e of 2 that is so interesting. It is the substantial discount to tangible book that the company trades at- this is especially true with the undervalued real estate.

BTW, the company has access to cash if it needs it. Remember the credit line owed to frank?

Also, Julie doesn't have any of the properties listed... They are all listed by Frank (at least, going from the flier that I found when checking properties out in Virginia. In the filing, it doesn't mention him getting any money from the listings, so, I guess he is planning on making his money from appreciation in the stock price?

You know, there are some of of that have done more than that... I actually went to the municipalities that they own stuff in and pulled deeds (and went to look at the neighborhoods that these things are in).

More to come on that later.

Here is the video of the conference.

http://ragnarisapirate.blogspot.com/2012/02/bob-sturges-at-new-miami-forum.html

If you are a shareholder, you should contact the manufactures of the machines, as well as UWN and make your thoughts known.

The internet business still made some profit... Actually, it made a nice bit of profit.

If they do ever decide to impair the internet business, that will make for a really nice tax shield against the gains in their real estate.

I don't think that any of the revenues were from real estate sales. I am pretty sure that they are just being booked as a gain on investment, which is a slightly different beast than the sale of internet services and computers.

It seems apparent that they have continued to buy real estate... At this rate, that seems to be about all they need to do.

And did you see the margins on those sales!? At this point, it doesn't matter if the internet business dies. Their real estate operations should continue to do quite nicely.

For the previous 4 quarters, that seems about right.

I just saw it maybe 15 minutes ago. Hasn't been out much longer than that.

Wow... The real estate business is kicking ass.

Here is the newest 10Q

http://yahoo.brand.edgar-online.com/displayfilinginfo.aspx?FilingID=8240589-846-75064&type=sect&dcn=0001144204-11-063964

Their trailing p/e is crazy low... To put this in perspective, the market cap is presently 1.39 million. In the past 4Qs, they have earned ~$717K. That gets us to a p/e of a touch more than 1.9

Yeah, I picked up almost all of the .006s that traded. Would have bought more (a lot more) if my order would have been placed quickly enough...

Where are you getting that from? I don't see it in any filings...

Would you care to post a link? I can't find anything.

I am pretty sure that I found some of the addresses. While I can't get any verification, I would imagine that this gives a pretty good idea. It is towards the end of the article.

http://ragnarisapirate.blogspot.com/2011/08/sitestar-cigar-butt-that-isnt.html

If I am reading that list right, there are only about 20K shares that were shorted... Not exactly enough to do a lot to the price.

Can you please post some more info on this? I am having trouble digging anything up.

I noticed a week or so ago that pinksheets.com doesn't have level 2 quotes anymore. Where can a person get them? I would love to see the various bid and ask quotes (with the size, nonetheless!) of the varying market makers!!!

Why not just start a new brokerage and call it "Sitestar Realty"?

Right, I get the whole synergy thing, but, is Ivy Hill even for sale? What makes you think that it would be?

I am just trying to fill in the blanks that I don't understand here.

If they would buy it, think of the savings, a percent or so on each end of the transaction, so, if they buy a piece of property for $200K and sell it for $300K, they essentially add in $5K to earnings...

if they buy $1.5 million in real estate and sell it for $2 million, that is a savings of $35K...

and why do you say that? how much would it cost and add in earnings?

That's the thing, without looking at the contracts of sale, we don't know what they are paying for them... They could have gotten cash back at closing, or, it been some sort of weird short sale where the recorded price looks different that it actually is.

I personally don't put much faith in that thesis, but, it is a very real one.

Hey,

I figured that I would post some research I did on SYTE.

http://ragnarisapirate.blogspot.com/2011/08/sitestar-cigar-butt-that-isnt.html

Obviously, I am long shares of sitestar.

Here is their newest release...

http://yahoo.brand.edgar-online.com/displayfilinginfo.aspx?FilingID=8063665-821-70661&type=sect&dcn=0001144204-11-042661

The results are good, really good... AND they repurchased another 500K shares of stock during the quarter.

I am really happy.

so, are all you posters technical analysis types?

OOOH! My post made Investor's Hub! ;)

Actually, I just recently found this site, and really like a lot of the discussion that takes place here. Glad to be on board!

-Jeff