Bill,
I heard the name "Banyan" somewhere before.
This is where I heard it while exploring another stock.
Is this the same company which you discussed.
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> Reply-to: <ztect@erols.com>
> From: "ztect" <ztect@erols.com>
> To: <info@sitra.com>
> Subject: Some questions about how you chose Tigershark
> Date: Sun, 3 May 1998 12:13:39 -0400
> Please provide an response to this message
> so I can post your reply on the SI discussion of TigerShark
>
> (This is actually a message posted on the SI tiger shark "thread")
>
> Thanks for your prompt reply to the questions included below.
>
> Sincerely,
>
> "ztect"
>
>
> ============================================================
>
> To all-
>
> An informed question (believe it or not).
>
> Sitra, Tiger Shark's management and financial consultant , says on Sitra's website linked to TGSK's site that "... Because Sitra Enterprises prides its reputation, it is highly selective in the clients it accepts. Thus, before accepting a prospective client, Sitra Enterprises will perform a complete due diligence analysis. Upon completion of a satisfactory due diligence analysis, Sitra Enterprises will work with the new client's management to devise and implement a comprehensive plan of action to make the client's company more attractive to both existing and prospective customers and investors..."
>
> Sitra also says it has already helped a whole series of companies. Who are some of these companies?. Who are some of Sitra's success stories that demonstrate the legitimacy of their claims and why their selection of Tigershark is such a great investment opportunity? Does
> anyone already know? Yes I'll read the ENTIRE thread for earlier info.
Plus I'm emailing this message to Sitra's email at
info@sitra.com
>===========================
=============================
> I will post Sitra's response to this question when I receive an answer.
>
> But I still appreciate any and all input.
>
> I'm also going to ask Sitra how many business proposals they receive and have to chose from. I'm going to ask this question because I did some work for a similar group called St*****rd
> Capital. This group received about 60 proposals a months to choose one or two from for the year. If Sitra goes through a similar process, this selectiveness says A LOT about what a
> great company I "have just stumbled upon".
>
> Sincerely,
>
> ztect
>
>
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============
Sitra's response's>
Sitra Enterprises, Inc. is a private international management and
financial consulting firm. Over the years we have done a lot of work
with privately held companies with a growing emphasis on publicly
traded companies.
At the present time we are working with only two publicly traded
companies, Banyan Corporation (OTC BB: BANY) and, the one you are
aware of, Tigershark Enterprises, Inc. (OTC BB: TGSK).
We started consulting with Banyan's management about a year or so
ago, working to devise a plan to create a liquid market for its
securities and assist with future funding and mergers/acquisitions.
The situation was very bleak when we started. The stock had fallen
from nearly $7 a share to 15 cents a share and was a "trade by
appointment" stock, meaning the stock made two or three trades a
month.
Beginning in mid-July 1997 we commenced an investor relations
campaign to build a market for Banyan's stock which now averages
about 80,000 shares a day. The stock has traded as high as 85 cents
a share since we started working with them, but more importantly we
have laid the groundwork to support a much stronger, long-term move
back to the old highs.
In 1995 we started working with a company called BrainTech, Inc. (OTC
BB: BNTI). When we started working with them they were strapped for
cash and their stock was trading at a mere 20 cents a share. We
were able to secure the necessary financing for them to complete
their R&D work and enacted a PR campaign that drove the stock from 20
cents to $1.25 in less than six months. The stock fell after we quit
working with the company and is now at around 60 cents a share.
On the private side, in 1992 we identified a group of horizontally
drilled wells in Frio County, Texas that were flowing about 300
barrels a day. These wells were in the bankruptcy court because of
mismanagement from the prior operator. Together with some of the
original investors we raised enough capital to repurchase the wells
from the bankruptcy court, rework the wells, and operate and maintain
them properly. The wells were drilled for about $40 million and we
picked them up, including over $1 million in field equipment, for
$310,000. We then spent about an equal amount of maximizing
production rates and efficiences. Due to a non-disclosure agreement
we cannot name the company.
That's a little background on the type of work we do. Now, as far as
the number of clients we take on. Yes, we are always looking for the next great deal and receive a lot of proposals and inquiries into our services. On average I would say we get between 40-60 inquiries a month.
Some deals we can do without much effort, yet others such as
Tigershark are longer-term in nature. On average we take on only
three or four new deals a year. So yes, you could say we are highly
selective.
Our criteria boils down to some basic items. First, is the
proposal/business plan solid, meaning does it make sense and can it be successfully executed even in the face of unexpected problems, because there are always unexpected problems and delays. Second, is there really a market for the product or service. Third, is there a management team in place that can do this? Management is probably one of the single most important factors in taking on a new client.
Without solid management, the greatest mouse trap in the world won't
catch a mouse. And fourth, will it be worth our effort. Meaning,
because we do not take on that many clients we cannot afford to take
on unnecessary risks. If everything checks out, there is a good fit
with management, and the plan makes sense and has a high degree of
probability of suceeding, then it is worth our efforts. Otherwise,
there is a stack of 30 other pending proposals waiting for our
review.
I hope this helps answer your questions and concerns about our
services and types of deals we look for. If you have any further
questions, or need and additional information, please feel free to
contact me.
Sincerely,
J. Scott Sitra
Tigershark Enterprises Investor Relations
sitra.com
tgsk@sitra.com
(512) 453-3817
(512) 453-7553 fax
P. O. Box 50404
Austin, Texas 78763 |
