SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
 
FORM 8-K
 
CURRENT REPORT
 
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
 
Date of Report (Date of Earliest Event Reported): February 4, 2009
 
 
000-27763
(Commission file number)
 
SITESTAR CORPORATION
(Exact name of registrant as specified in its charter)
 
NEVADA
88-0397234
(State or other jurisdiction of
(I.R.S. Employer Identification No.)
incorporation or organization)
  
 
7109 Timberlake Road
Lynchburg, VA 24502
(Address of principal executive offices) (Zip Code)
 
(434) 239-4272
(Registrant's telephone number, including area code)
 
NOT APPLICABLE
(Former name or former address, if changed since last report)
 
 
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
 
o
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
 
o
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
 
o
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
 
o
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
 

 
 
 
 
 
Item 1.01 Entry into a Material Stock Repurchase Agreement
 
Effective February 7, 2009, Registrant repurchased shares of restricted common stock of the Registrant from Mitchell Partners, L.P.. The repurchase consists of reacquiring 5,263,158 shares of restricted common stock, sold to Mitchell Partners in December 2007, in exchange for $590,000.00. Mitchell Partners, L.P. agreed to hold the shares for a minimum of twelve months and thereafter may elect to sell some or all or the shares back to the Registrant at 11.21 cents per share or have some or all of the shares replaced with unrestricted shares and sell conditionally in the open market.
 
ITEM 9.01. FINANCIAL STATEMENTS AND EXHIBITS.
 
(c) Exhibits
 
None
 
 
 
 
 
SIGNATURES
 
 
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
 
Dated: February 10, 2009
 
     
 
SITESTAR CORPORATION
   
     
 
By:
/s/ Frank Erhartic                              
 
Name: Frank Erhartic
 
Title: President