Lebaneseproud and Giff thank you that is exactly what I was looking for. So, to summarize, you trust Frank and see the new comers as unknown quantities. Fair enough and completely understandable. Both parties are relatively new to me, so I don't have more trust in one than the other. This is where our different perspectives are coming from I guess.
I was attracted to SYTE in the first place, because I thought the strategy of milking the dial-up business to bootstrap the company into real estate was an interesting one that has potential. As I said in my last post, the company seemed to be opening up to shareholders last year, and doesn't appear to be badly managed the way many tiny companies are these days: No issuance of shares, no ridiculous compensation plans, no taking on massive amounts of revolving debt, etc...
I haven't seen the shareholder group mention anything other than holding board meetings and annual meetings. If there has been talk of a take-over I have missed that.
I do find it comforting that a shareholder of 14 years feels comfortable with Frank and trusts him as you do. But at the same time I agree with the shareholder group that he should be holding regular board meetings and an annual meeting.
As for the questions you asked about why does the group keep adding shares or what their ultimate intentions are, I can't answer those questions, because I am not part of that group. I can speak for myself however. I am not personally adding shares right now, because I'm comfortable with my current position and I don't like to hold too much in a small company like this. I want to see how this all plays out before considering adding anymore. From my perspective I'd feel more comfortable if the two sides where talking to each other rather than fighting it out.
Thank you for answering my questions.
