The New Eriksen Capital Management Llc Holding in Sitestar Corp
Eriksen Capital Management Llc filed with the SEC SC 13D form for Sitestar Corp. The form can be accessed here: 000114420416134681. As reported in Eriksen Capital Management Llc’s form, the filler as of late owns 5.26% or 10,000,000 shares of the -company.
Sitestar Corp stake is a new one for the and it was filed because of activity on November11, 2016. We feel this shows Eriksen Capital Management Llc’s positive view for the stock.
Reasons Why Eriksen Capital Management Llc Bought – Sitestar Corp Stock
Item 4. Purpose of Transaction
On November 7,2016, ECM acquired 10,000,000 shares of Sitestar Common Stock through a private placement of the Issuer’s Common Stock. Theprice per share for the Issuer’s Common Stock sold in the Private Placement was $0.05 per share. The shares we acquired becauseECM believed that the Common Stock is undervalued.
|CUSIP No. 82980W101||13D||Page 5 of 5 Pages|
No Reporting Person has any present planor proposal which would relate to or result in any of the matters set forth in subparagraphs (a) – (j) of Item 4 of Schedule 13Dexcept as set forth in this Schedule 13D. Each of the Reporting Persons intends to review its investment in the Issuer on a continuingbasis and engage in discussions with management and the Board of the Issuer concerning the business, operations and future plansof the Issuer. Depending on various factors including, without limitation, the Issuer’s financial position and investmentstrategy, the price levels of the Shares, conditions in the securities markets and general economic and industry conditions, eachof the Reporting Persons may in the future take such actions with respect to its investment in the Issuer as it deems appropriateincluding, without limitation, making other proposals to the Issuer concerning changes to the capitalization, ownership structureor operations of the Issuer, purchasing additional Shares, selling some or all of its Shares, engaging in short selling of or anyhedging or similar transaction with respect to the Shares or changing its intention with respect to any and all matters referredto in Item 4.
Sitestar Corporation, formerly Interfoods Consolidated, Inc., is an Internet service provider (ISP). The Company operates through three segments: Internet, Real estate and Corporate. The Company’s Internet segment provides Internet access to customers throughout the United States and Canada. The Company’s Real estate segment invests in, refurbishes and markets real estate for resale. The Corporate group is the holding company that oversees the operating of the Internet group and arranges financing. The Company offers consumer and business-grade Internet access, wholesale-managed modem services for downstream ISPs, Web hosting, and various ancillary services. The Company owns a real estate investment portfolio that includes residential properties, vacant land and a commercial property. Its real estate portfolio is primarily focused on the Roanoke and Lynchburg areas of Virginia.
SEC Form 13D is filed within 10 days, by anyone who acquires beneficial ownership of 5%+ of any public firm. Activist investors and practices such as: company breakups, hostile takeovers, and change of control events, are permitted for this form filers. A filer must promptly update its 13D filing in case of acquisition or disposition of 1% or more of the securities that are the subject of the filing.
About 69,800 shares traded hands or 48.98% up from the average. Sitestar Corporation (OTCMKTS:SYTE) has risen 6.00% since October 16, 2016 and is uptrending. It has outperformed by 2.07% the S&P500.
Sitestar Corporation, formerly Interfoods Consolidated, Inc., is an Internet service well-known provider . The company has a market cap of $15.22 million. The Firm operates through three divisions: Internet, Real estate and Corporate. It currently has negative earnings. The Company’s Internet segment provides Internet access to clients throughout the United States and Canada.
More notable recent Sitestar Corporation (OTCMKTS:SYTE) news were published by: Marketwired.com which released: “Sitestar Completes a Private Placement of Common Stock” on August 11, 2016, also Marketwired.com with their article: “Sitestar Announces a Settlement With the Jeffrey Moore Shareholder Group” published on February 11, 2015, Marketwired.com published: “Sitestar Announces the Creation of HVAC Value Fund LLC and Comments on Its 10 …” on June 14, 2016. More interesting news about Sitestar Corporation (OTCMKTS:SYTE) were released by: Marketwired.com and their article: “Sitestar to Make a Seed Investment in Alluvial Fund, LP” published on September 19, 2016 as well as Marketwired.com‘s news article titled: “Sitestar Announces the Appointment of Jeffrey Moore as Chairman, the …” with publication date: February 23, 2016.
SYTE Company Profile
Sitestar Corporation, formerly Interfoods Consolidated, Inc., incorporated on December 17, 1992, is an Internet service well-known provider (ISP). The Firm operates through three divisions: Internet, Real estate and Corporate. The Company’s Internet segment provides Internet access to clients throughout the United States and Canada. The Company’s Real estate segment invests in, refurbishes and markets real estate for resale. The Corporate group is the holding firm that oversees the operating of the Internet group and arranges financing. The Company’s subsidiaries include Sitestar.net, Inc., FRE Enterprises, Inc., Advanced Internet Services, Inc. and NetRover Inc.
Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.