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Technology Stocks : SYTE - Sitestar -- Ignore unavailable to you. Want to Upgrade?

To: Evan who wrote (113)	2/18/2001 11:19:56 AM
From: LORD ERNIE	Respond to of 301

I will ask it at Alan . Alan gave me a respond about the fillings last week: Here it is: 1. The shares they are referring to are AUTHORIZED, not ISSUED. Nobody at SYTE is crazy enough to issue shares. Why would they? Management is the largest shareholder, they have $750k in cash on the balance sheet and the business is cash flow positive. Why would they dilute themselves? For what reason? 2. The shares authorized needed to be revised per the financing agreement from last year, it’s just a technicality. They will not be issued, they are just required to be there. 3. Please also tell these guys that considering SYTE's balance sheet, with plenty of cash, its revenue base and positive cash flow, which are all more real than the vast majority of BB companies, calling it scam is a bit more than we would tolerate.

To: Evan who wrote (113)	2/18/2001 12:56:46 PM
From: LORD ERNIE	Read Replies (1) \| Respond to of 301

Respond about the fillings and new shares!!! By Alan: Certainly. The SB-2 was filed for the purpose of registering shares in the event Sitestar needed to make another large acquisition or raise money to make a large acquisition: Should the right opportunity arise, one needs to be ready. An acquisition of that sort will add substantially to Sitestar's revenue base and increase its profu\its, and therefor is good for all shareholders. Any shares issued for acquisition will be restricted, anyhow. Keep in mind again, that management are large shareholders and will never do anything to dilute themselves. The interest of management is the same as the interest of all common shareholders, and that's the beauty of it. And the chairman and CEO have been buying stock all of this last year, and increasing their positions (see the recent EDGAR 13-G filings from Last week). Also, I urge you to read the CEO letter posted on RB: Go To: Raging Bull SYTE Post #5809