SYTE 10Q good numbers-Rev's up 125%-One to Watch-DD inside..
September 30, 2000. The increase is attributed to the acquisitions of Lynchburg.net in November 2000 and Advance Internet in July 2001 which generated revenue of approximately $1,335,287 for the nine months ended September 30, 2001. The revenue from Sitestar.net for the nine months ended September 30, 2001 also increase by approximately $284,000 when compared to the same period in 2000.
from email recieved...
Good morning everyone,
We have great news from the SYTE filing and alot of reasons why it is a
diamond in the rough of the otcbb!
SYTE posts strong 10SQB Here are some of the highlights!
12 months from now SYTE could conservatively show .03 - .05 EPS. based on
their contiued implementation of their business plan that has continued to
show
positive results and remains a strong buy in our opinion.
SYTE increased revenue 125%, narrowed losses significantly, increased margins,
displayed continued positive cash flow and is actually redeeming its
convertibles for cash!! Unheard of in OTC land.
- Revenues, an increase of $603,766 or 127% (due in large part to
Lynchburg.net, shows Sallee's business acumen in putting together great
deals);
- Cost of revenue as a percentage of revenue decreased from 43% for the
three
months ended September 30, 2000 to 36%, i.e., SYTE's costs of making
money
(generating revenues) are going down (this is very big);
- GAIN ON SALE OF ASSETS, a gain on sales of $363,831 (more evidence of
Sallee's mgt. expertise, something Wall Street puts a high value on.
For
example, the CEO of PALM recently resigned, the stock price has since
gone up
50% in less than a week);
- Redeeming CDs for cash - great indicator of strong management. Unheard of in
otc land and shows companpy feels stock undervalued
- consistent trend upwards Qtr. to Qtr., compile a chart of increasing
revenues and decreasing costs for the last 4 Qtrs., and it's clear
where SYTE
is going;
- Increase in revenues and decrease in costs included month of Sept.,
thus
9/11 attacks had no bearing, most companies suffered severe losses due
to
9/11;
- history of very successful acquisitions/mergers, no reason this trend will
stop, SYTE still has a ton of cash in a market where Cash Is King;
- SYTE has sufficient cash and equivalents to meet expenses for at least 12
months (an OTC company that has no foreseeable need for cash to continue
business and/or grow). |
