In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), Sitestar Corp. (OTCMKTS:SYTE) reported that Arquitos Capital Partners, Lp. has picked up 85,413,593 of common stock as of 2017-02-09.
The acquisition brings the aggregate amount owned by Arquitos Capital Partners, Lp. to a total of 85,413,593 representing a 30.21% stake in the company.
For those not familiar with the company, 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.
A glance at Sitestar Corp. (OTCMKTS:SYTE)’s key stats reveals a current market capitalization of 15.98 million based on 190.23 million shares outstanding and a price at last close of $0.084 per share.
Looking at insider activity, there are a few transactions worth noting.
Specifically, on 2017-02-01, Smith picked up 200,000,000 at a purchase price of $0.05. This brings their total holding to 9,000,000 as of the date of the filing.
On the sell side, the most recent transaction saw Dash unload 95,848 shares at a sale price of $0.02. This brings their total holding to 4,547,717.
It’s possible to gauge a company’s potential by tracking the activity of its major holders, as well as checking in on insider activity such as those transactions listed above. We’ll be keeping an eye on Sitestar Corp. (OTCMKTS:SYTE) as things move forward to see if its progress aligns with these transactions.
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