An Internet investment company focusing on acquiring and developing Internet-based services and technologies.
The Company at a Glance:
Contact Information:Eric ManlunasChairmanEmanlunas@sitestar.comClinton J. SalleePresident and CEOCsallee@Sitestar.comCorporate Offices:15303 Ventura Blvd.Suite 1510Sh. Oaks, California 91403818-380-8180 phone818-380-8188 faxWeb site address:www.sitestar.comCORPORATE MISSION: Sitestar’s mission is to develop it’s Internet subsidiaries and investments into highly focused and successful stand-alone Internet businesses.The Company’s strategy is to establish itself as a leading regional ISP through acquisitions and internal growth, while building its e commerce presence in major segments of the economy.
Sitestar Corporation is a publicly traded Internet holding company (OTCBB: SYTE) that participates, through its wholly owned web-based operating subsidiaries, in emerging segments of the Internet, mainly Internet access. To sustain its growth and to maximize shareholder value, the Company engages in an aggressive acquisition strategy in its core target area.
Sitestar.net, a Sitestar wholly owned subsidiary, is an Internet service provider and Web development company located in Virginia that provides Internet access, hosting, web development and enhanced products and services to businesses (among them Fortune 500 companies such as Bassett Furniture), and a fast growing base of dial-up customers in the mid-Atlantic region.
The Company has grown its revenue by 765% from the 1999 Fiscal Year, and is going into the high-speed access business.
Sitestar has approximately $350,000 in cash on its balance sheet.
Market Highlights: SITESTAR CORP. (OTCBB:SYTE)Recent Share Price: $0.05 Outstanding Shares: 60 MM.52 Week Range: $3/4 to $0.03 Estimated Float: 9.5 MM. L/T Debt: None
Investment Highlights: June 2001Ø Sitestar Corporation has a growing portfolio of early stage Internet companies.Sitestar is applying its focused investment criteria towards the acquisition and development of early stage Internet companies in several exciting emerging segments of the Internet phenomenon. Sitestar therefore allows an investor to participate in a publicly traded “venture capital” outfit.Ø Sitestar is building a geographically concentrated ISP brand.By targeting the highly fragmented rural markets in the mid-Atlantic region, Sitestar is building a regional brand providing comprehensive internet services to both business and residential customers. Ø The ISP business is a cash flow business.The incremental costs of adding customers are low, and the economies of scale are substantial.Ø Rapid growth by acquisitions.In addition to substantial organic growth, Sitestar is growing rapidly through numerous acquisitions. Ø Sitestar provides a full service solution: Supplying Internet dial up access, web development, web hosting, committed customer service and e commerce properties at a one stop environment, enabling the company to benefit from the natural synergy between e commerce and ISP.Ø Aggressive Management Team:Sitestar has an aggressive and experienced management team, dedicated to the enhancement of shareholder value. Sitestar’s management team owns a substantial amount of the common stock.
This release contains forward-looking statements regarding potential future events and developments affecting the business of Sitestar Corporation. These forward-looking statements involve unknown risks, uncertainties, or other factors not under the control of Sitestar Corporation. ,which may cause actual results, performance or achievements of the Company to be materially different from the future results, performance, achievements or other expectations expressed or implied by these forward looking statements. |
