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

To: LORD ERNIE who wrote (254)	6/26/2002 2:05:50 PM
From: LORD ERNIE	Read Replies (1) \| Respond to of 301

Syte DD update part 2 Sitestar Repurchases 10.6 Million Shares of Its Common Stock... biz.yahoo.com Increase in revenues... biz.yahoo.com Trivantage divestment resulting in a capital gain of about $225,000... biz.yahoo.com We have the CEO's salary being paid in shares... pinksheets.com bol&ticker=SYTE&res=10&SortBy=receivedate&AD=D&startrec=11&symbol=SYTE Small float... knobias.com 9730592 The beginning of the end for the debenture... biz.yahoo.com Preliminary Results Year 2001 biz.yahoo.com An intelligent and straight shooting CEO with many years still left in him... csallee@sitestar.com A testimonial (with a couple of interesting predictions)... ragingbull.lycos.com 4.a chat with CEO Clinton J. Sallee (04-16-2002) (hello etc......) Q (Elsie) do you have confirmation from the sec that the 10k has been received ? A Yes the filling has been confirmed. I have no idea why it has not been posted, but I know it is complete and filled. Q(Kobbetje) The most asked question is about NASDAQ listing. How could it be achieved? A NASDAQ listing can be achieved through a variety of means, including acquisition, merger, or qualifying our self. We are working on that issue as it is our ultimate goal. At this point, I am almost inclined to pursue self-qualification as it is the area in which we have the greatest control and can best protect the interest of our shareholders. Q (CSJ ;-$)) Is that too technical of an answer, or did I fail to adequately answer the question for you? Forgive me, but I am new to this forum. Q (stockseeker29) But stock price has to be 4$ then, to qualify for NASDAQ listing? Q (Elsie) Self qualification vs reverse merger? So you mean getting the share price up ? A The stock price has to be $1/share, which could be achieved if we qualify on the other merits (assets, net equity, cash, etc.) There is a lot more to the process besides getting the share price up. Adjusting the capital structure of the company is on of the easier marks to achieve. Keep in mind, once we fully qualify for the NASDAQ, the process still takes 6 months to complete. Q (Kobbetje) There are also rumours about a buyout. Is this also a possibility? Q (Elsie) How close would you say you are to those aspects of the process? I would guess you’d PR the qualification so as to let the share holders know where you are? A Buyouts are always a possibility, but I can’t discuss rumours. When you trade at 3x EBITDA, you are certainly attractive to someone looking to grow by acquisition. I don’t plan to release miniature updates on our progress with NASDAQ. I would prefer to pursue our course of action and release news that is solid. When we initiate the application process, I would anticipate a filling of such news. First, we need to qualify. Q (Kurt Deloof) How many convertible debentures are there outstanding at this time? A The vast majority of the CDs have been redeemed. The relatively small amount that remains will be redeemed in the near future. We do not intend to convert any of the remaining CDs. Q (luckyjo17) Will you give us a PR about this issue? A We will release news when it is news. Not before. Q (Kurt) What’s the current float and outstanding shares? A 14M float and 95M o/s Q (Kobbetje) We have almost 1.5 million shares traded today. Still no upside. A good PR firm could change that. I know you are working on this matter. Still nobody found? A I have met with virtually every PR/IR firm I can find. I have not found one that I believe to be reputable. I am not a day trading CEO. I have no interest in spending $50K to see our stock climb for 3 months, then fell back to it’s starting point. When I find a reputable firm that can work to increase our exposure long term, I will certainly pursue it. My share holders will be $50k poorer. That’s not for me. Several questions where asked when Gert Verheyen announced :the filling has just arrived on Edgard. So there was no answer on it!* Q (Elsie) Are you seeing increases in business contracts for SYTE? A I have built this company around solid fundamentals. Our business id highly scalable, has ample growth potential and is very cash flow positive. Unlike many other OTC BB stocks, management is not selling. I have not taken a dime from this company (aside from restricted stock) in compensation for the first three years. I certainly would not be doing that if I didn’t believe in the long term growth of this enterprise. To me, that’s the greatest commitment I can make. Q (Elsie) Are business investing in broadband, and specifically choosing Sitestar right now? Or is that a growth area that may need the economy to come back a bit? A Our region offer ample internal growth. I don’t know how familiar you are with rural Virginia and North Carolina, but these are areas that were a little slower to accept the internet. That means that these areas are like LA and NY in 98. Plenty of room for growth in the coming years. And yes our customers are investing in broadband, no question about that. DSL, ISDN, WIRELESS and T-1s. Broadband is our highest growth segment. Q (Elsie) The system upgrade is paying for itself fast, then? A Yes, that was a critical move. We are working on that for our other locations as well. Solid connectivity and good customer service are the hallmarks of a successful ISP. I don’t take any chances when it comes to keeping our customers happy. Q (Kurt) Do you see the bankruptcy’s of 2hom and several other (free) isp’s as an advantage for Sitestar and did you gain extra customers by their demise? A Anytime a large company goes bankrupt, it certainly presents an opportunity for us. But, keep in mind, we don’t compete with many of the big companies in our market. We are competing with smaller independents, which makes our consolidation effort all the more enticing. Within our small market, we are the dominant force. With regards to the free model – that’s a great issue. It didn’t work and I don’t believe it ever will. People don’t expect ISP access for nothing. Our customers want quality service at a reasonable price and that’s what our team provides them. *Sultan arrives ;-$)))*