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..
