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Not to beat a dead horse, but it IS a penny stock. Therefore it will be volitile and being a software company, it DOES have a limited lifespan. If they can improve thier product line enough, they'll be around a lot longer and maybe higher too. Unfortunately, most don't improve thier software enough to improve thier stock price. Announcing 10-20% revenue growth for the coming year is not the greatest news. Hopefully they're low-balling that. I've been positive on the stock for 2 years, I even doubled down last Nov. I am now cautious. I've sold half my position and am playing with profit only. After being here 2 years, I plan on waiting for year end results, then make a decision on wheather to hold or sell. Good luck to all!...Carl
Most important part:Our financial performance also facilitated the retirement of all of our outstanding bank notes and commencement of a stock repurchase program designed to acquire up to 10,000,000 shares of common stock to stimulate Sitestar's share price. Lastly, due to our growth, we were able to not only retain our employees but, more importantly, create new jobs to service our expanded customer base and operations."
Well, at least they reported:
Press Release Source: Sitestar Corporation
Sitestar Reports Fiscal 2008 Results
Breaks $10 Million Sales Mark in Most Successful Year in Company History
On Monday May 18, 2009, 5:12 pm EDT
LYNCHBURG, VA--(MARKET WIRE)--May 18, 2009 -- Sitestar Corporation (OTC BB:SYTEE.OB - News), a provider of residential, business and wholesale Internet access, web hosting and value-added products and services, announced financial results for its fiscal 2008 year ended December 31, 2008 in which the Company posted revenue of more than $10 million. This was the highest revenue in company history. Financial highlights for the year include:
-- Total Revenue was $10,227,438, an increase of $3,660,174 or 57.7
percent from $6,567,264 for the same period in 2007.
-- EBITDA was $4,338,166, an increase of $1,709,004 or 65 percent from
$2,629,162 for the same period in 2007.
-- Net Income was $896,076, an increase of $106,104 or 13.4 percent from
$789,972 for the same period in 2007.
-- Notes payable, less current portion, was $915,615, a decrease of
$779,221 or 46 percent from $1,694,836 for the same period in 2007.
-- End of year net income per share was $.01.
"We are absolutely thrilled to report that Sitestar has completed its best year in company history," said Frank R. Erhartic, Jr., CEO for Sitestar. "This is even more significant given the current economic climate which has adversely impacted the performance of many companies across multiple industries. To be sure, the financial health of the Company has never been stronger. In 2008, robust cash flow from sales enabled us to complete more acquisitions than in previous years and fueled our strategy to diversify our holdings including expansion into the wholesale dial-up and fiber to the home (FTTH) service markets. Our financial performance also facilitated the retirement of all of our outstanding bank notes and commencement of a stock repurchase program designed to acquire up to 10,000,000 shares of common stock to stimulate Sitestar's share price. Lastly, due to our growth, we were able to not only retain our employees but, more importantly, create new jobs to service our expanded customer base and operations."
Commenting on the Company's outlook for the current fiscal year, Mr. Erhartic added the following guidance, "Clearly, the present economic state is having an impact on businesses, consumers and the stock market. We believe that Sitestar is in a position of strength to continue to acquire business assets that increase and complement our value. Similarly, we feel that our share price is undervalued and has weathered the volatility of the overall market. Going forward, we will continue to execute our conservative growth plan to capitalize on opportunities and deliver shareholder value."
Did the same thing last year I believe.
Just got my notice in the US mail of Chapter 7 today..Carl
Yup, you can thank Moody's for some of it:
2:36PM Genworth Financial: Moody's reviews Genworth ratings for possible downgrade (GNW) 2.26 -0.42 : Moody's Investors Service has placed the debt ratings of Genworth Financial (senior debt at Baa1), as well as the A1 insurance financial strength (IFS) ratings of the company's primary life insurance operating subsidiaries, on review for possible downgrade. The review follows Genworth's announcement of its 4Q08 results, including a net loss of $321 million, which included $149 million of realized capital losses and $238 million of goodwill write-down. The rating agency said that any downgrade would likely be limited to one notch. According Scott Robinson, Vice President and Senior Credit Officer: "The review for possible downgrade reflects the continued uncertainty with the mortgage insurance (MI) operations, as well as the impact of the stressed credit market and economic conditions on Genworth's life insurance operations." He added: "While we do not anticipate that Genworth would take resources from its life companies to support its MI operations, the weakened MI company could place pressure on the overall organization's financial flexibility."
Earnings news!: http://biz.yahoo.com/e/081110/soyo.ob10-q.html
One thing that did bother me is the delinquent(sp) accts., but that's a sign of the times I think.
Don't post much, but given the doubling of revs. and the flat bottom line, the price reaction was expected. That said, I've been here over a year and holding tight. If it drops much more, Carl will have to double down. I believe a LOT of people will be surprised next Q.......Carl
NEWS-Still growing quickly!
http://biz.yahoo.com/bw/080520/20080520005123.html?.v=1
Somebody's betting on a great report. 400,000 shares so far....Carl
alpamare, THANKS!......Carl
Did you get this information from the company?
Any ideas as to why the company hasn't filed thier year end? Been here over a year and don't remember them being this late.....Carl
We missed because of the weak dollar. Gross margin was 13.0% compared to 16.3% last year. That will change as the dollar strengthens and it should. I think it finally hit bottom. JMO....Carl
Sorry, forget to check my spelling. Syart = start
AND don't forget the stimulus package. Sales are not a worry. When you syart close to zero, you can only go up(unless, of course, they rally fall out of bed). I'm bettin(literally) they Q/Q increases in sales until q4 '08. THAT will be the crucial quarter, as always.....
Well, we'll know in 16 days if patience pays off or not......they're a little early, so here's hopin.
Yup, its been trading between .09 and .11 for what seems forever. Could be worse though, could be like SOYO. At least I'm in that one cheap enough, though it still hurts...LOL ....Carl
News
Pacific WebWorks Recaps 2007 - Highlights Growth
Thursday January 31, 9:00 am ET
SALT LAKE CITY--(BUSINESS WIRE)--Pacific WebWorks, Inc. (OTCBB:PWEB - News) today updated the market on certain accomplishments achieved throughout the year and outlined its expectations for 2008.
ADVERTISEMENT
2007 represents an important period in the history of Pacific WebWorks, Inc. During 2007 the company implemented its new marketing initiatives with great success. While final numbers for the year end December 31, 2007 are not yet complete the company will finish the year with revenues exceeding 200% of revenues reported in 2006. The company is now cash flow positive and has transitioned from operating losses from continuing operations of over $1 million in 2006 to operating profits in amounts exceeding any previous year in the company’s history. The company is also free of any debt outside of routine payables and legacy liabilities related to discontinued operations.
Largely due to the success of our marketing and product promotions in 2007 our active customer base increased over 600% from approximately 6,500 customers in 2006 to nearly 40,000 customers in 2007. Nearly 90% of company revenues are now recurring monthly revenues related to the hosting which we provide to our portfolio of customers.
In the near future the company will announce several new significant agreements, including new distributor agreements and credit card processing agreements. Additionally, the company will be announcing the relocation of its corporate offices into a new, state-of-the-art facility designed to support continuing growth and product development.
CEO Ken Bell reported, “The growth that we experienced during 2007 has been very rewarding. We have positioned ourselves for continued growth and expect 2008 to be a continuation of the success we experienced in 2007. While our percentage growth rate will clearly be reduced, we expect our overall growth to continue at a high rate. Coming off the record year we had in 2007, we foresee continued growth and success for 2008 and into the foreseeable future. We appreciate the commitment of our staff and the continuing support of our shareholders.”
http://biz.yahoo.com/bw/080131/20080131005064.html?.v=1
Moone...
You said: At present the investment community does not recognize or value what is happening behind the scenes with SOYO and even factual things like growing revenues and EPS. So, the stock lags behind.
Have you looked at the entire market lately? SOYO seems to be holding up ok as the market corrects into, possibly, a bear market. As long as the CEO, Mr. Chok, does what he says he's going to do, we can't complain. And, yes, we may have to wait 'til later in the year for AMEX. but that's because of market conditions not anything the company has done...All IMO....Carl
<I know some guys with huge positions under $1 who are selling hard now. Their dilution nightmare has arrived.>
OH PLEASE! Down 8 cents on less than 20000 shares is NOT huge positions. Get real. I believe it's more a market thing. They're going to hit thier estimates! In this kind of market, that's saying something.....BTW, I'm in at .49 and it's gonna take more than 8mm shares to pry them from me!.....
I, too, was hoping for a better bottom line. I really believe we'll see better numbers when the dust settles. The new shares don't bother me too much. Perhaps someone that talks to them all the time could call and ask why the share count went up.........Carl
Remember, they have a habit of under predicting and over delivering. Look at the 3rd Q. pre-announcement and then look at the results.....Carl
Dash does not work for the company, He's a 10% owner........
Not to worry, the #'s will be out shortly. I believe that's the only thing that's going to move SOYO. If they're good, we'll see 2.00, if they're just "ok" we'll prolly test 1.00. I'm bettin they'll be stellar as I can't believe they would apply for AMEX on the "chance" they'd make it. This CEO seems to like(smart) to under promise and over deliver. I like that. Complete confidence here........Carl
"By numbers I thought he meant the actual 4Q report."
You could be right, but I've never had a BB stock report this early. Hope you're right!....Carl
"didn't we get those numbers is April?"
Nope and as far as earnings, the company announced they would pre-announce earnings in Jan, '08. Here's the link:
http://biz.yahoo.com/pz/071219/133274.html
Patiently waiting for earnings pre-announcement. If we're really lucky, we'll have news that they signed a real big retailer. The real news will be earnings though....Carl
It's all about earnings, I owned a stock that had a distribution deal with Coke and boy did it soar! I got out with only a minor loss as the bimbo runing the co. came out with a press release the day AFTER Thanksgiving diluting the hell out of the stock. Today it's BK. People are naturally leery of BB's. I believe our CEO is honest as the day is long,
but I've owned it almost a year( wish I had the resourses to add more). If and when they pre-announce. Scratch that, WHEN they pre-announce, then you'll see it soar. ALL IMO.....Carl
We'd be in a lot better shape if these online brokers had current information. Scottrade shows SOYO "losing" money! They show a negative PE of 93! and last quarters eps of -.01!
"The Company still expects to earn $.07 to $.08 a share and will provide further earnings guidance for the fiscal year 2007 and revenue and earnings guidance for the fiscal year 2008 in January."
Looking forward to January as I believe guidance to be the key.....Carl
More news!
Pacific WebWorks Creates International Subsidiaries
Tuesday December 18, 4:05 pm ET
SALT LAKE CITY--(BUSINESS WIRE)--Pacific WebWorks, Inc. (OTCBB:PWEB - News) announced today that they are in the process of establishing subsidiaries in two European countries. PWEB announced earlier that they have acquired customers in 16 countries during 2007 and will expand their international presence during 2008.
ADVERTISEMENT
As reported in the company’s latest filing, it has formed Pacific WebWorks International, LTD, a United Kingdom limited company. Additionally, PWEB has engaged an agent and has made application to form Pacific WebWorks GmbH, an Austrian company to be seated in Vienna, Austria.
CEO Ken Bell reported, “As a company we see not only a vast English speaking overseas marketplace for our products, but also financial benefits to having subsidiaries formed in strategically located foreign countries. We continue to evaluate other overseas locations and may form additional subsidiaries as dictated by our overall marketing strategies.”
Bell concluded, “The growth that we have experienced during 2007 has been rewarding. We are positioning ourselves to have the best opportunity for continued growth. We believe that the inclusion of an international segment is important to our growth. Our emphasis continues to be the domestic market; however, all of these components will contribute to the continued growth of our revenues, recurring revenues and profitability in 2008 and beyond.”
http://biz.yahoo.com/bw/071218/20071218006138.html?.v=1
Darwindows
Volume is not surprising to me. @9/11 they announced they were going to apply to AMEX sometime in the future. @10/11 they pre-announced earnings. Both had great volume spikes for several days. During that time SOYO went from @.5 to 1.80. True it's lost 2/3 of the price spike, but it'll come back with the earnings pre-announcement in Jan.(being an optimist here) Other than that, volume now is normal. I'll wait as next year should be excellent for SOYO. All IMO.....Carl
NEWS (that I missed)
http://biz.yahoo.com/bw/071212/20071212005844.html?.v=1
Pacific WebWorks Expands Internationally
Wednesday December 12, 4:05 pm ET
SALT LAKE CITY--(BUSINESS WIRE)--Pacific WebWorks, Inc. (OTCBB:PWEB - News) commented today on its international marketing efforts. As part of the company’s online marketing strategies, it has increased its emphasis on international markets.
ADVERTISEMENT
PWEB has acquired new customers in sixteen (16) countries with the highest concentrations in Canada, Great Britain and Australia. These international customers are the result of the company’s new marketing initiatives and partnerships with several global marketing firms.
Ken Bell, CEO, stated, “We are beginning to see the results of our efforts in the international markets. We expect to see continued steady growth in this area as we expand our network of publishers and our product offerings. While the domestic market is our primary focus, we recognize the opportunities that exist internationally and we will continue to take steps to enhance our ability to do business overseas. Our international expansion is expected to be a contributing factor in our future growth and profitability.”
There are soooo many bb stocks that are nothing more one hit wonders that, I'm sure, most people are waiting for a listing to a bigger board(credibility). AND I think you multiple is a little low, closer to 40 I think. I believe we won't see much of a price rise befor earnings(or a pre-announcement), then watch out...Carl
Sounds like someone needs a proof-reader! I believe this is the second time in as many months.....could be wrong though.
NEWS
Pacific WebWorks New Marketing Strategies
Wednesday December 5, 4:05 pm ET
SALT LAKE CITY--(BUSINESS WIRE)--Pacific WebWorks, Inc. (OTCBB:PWEB - News) reported today on the continued growth and success of its current marketing strategies which were implemented early this year. PWEB discontinued the sale of its products through the high risk, capital intensive seminar market in July of 2006 and replaced that with a new marketing program with an online focus in November of 2006.
ADVERTISEMENT
The company now has relationships with 19 online marketing partners, including several international marketers. Together these partners publish PWEB’s five unique product offers through nearly 1400 online publishers. During the month of November 2007 alone 545,077 unique visitors viewed PWEB’s campaigns. Since January of this year the company has increased its active customer base from approximately 7,000 to nearly 40,000 active customers. The company has increased its sales from approximately $250,000 per month to in excess of $1 million per month since the new marketing initiatives. More importantly, the recurring revenue streams (hosting, gateway and maintenance fees) have increased to nearly 90% of revenues. The company has transitioned to positive cash flow during 2007.
The company recorded net income for the 2007 nine month period compared to a net loss for the 2006 nine month period. Net income for the third quarter 2007 was nearly 300% of net income for the 2006 third quarter. Management expects future revenues increases to come largely from recurring residual income rather than from one time upfront fees. The cost of sales decreased significantly for the 2007 periods compared to the 2006 periods due to the elimination of seminar related expenses incurred under our old marketing model. Management anticipates that cost of sales will remain lower in the short term as we continue our new marketing strategies.
CEO Ken Bell commented, “PWEB’s marketing division has done an incredible job of managing the growth of our online marketing business, creating meaningful marketing partnerships and bringing the whole process together in a profitable manner. While we are extremely pleased with our progress we believe we have only scratched the surface of the market potential that exists. The company’s customer base has reached a critical mass from which I expect to see continued growth in recurring revenues as we add additional new customers. We anticipate the release of two new offers within the next 45 days, adding to our range of available products.”
http://biz.yahoo.com/bw/071205/20071205005847.html?.v=1
Curious, Has anyone factored in the costs of the products produced overseas because of the weak dollar, and what that will do to thier margins? I realise they have out of country sales, but is that enough to offset the fall in the dollar? Personally looking for .08 EPS for the 4th quarter........ Been in since March and couldn't be happier..
over $2 that is