NEW YORK, Nov. 27 /PRNewswire-FirstCall/ -- Siti-sites.com, Inc. (OTC Bulletin Board: SITN-News; SITN.PK, and by Email to ) (CUSIP 82981 -- formerly named Spectrum Information Technologies, Inc. and called "Siti" in its various SEC reports, symbol SITN.PK) previously announced that stockholders duly approved its Plan of Final Liquidation and Dissolution (the "Plan") effective November 14, 2006. The Plan has been implemented by recent filing of its Certificate of Dissolution, effective by its terms on December 20, 2006, together with payment of Delaware taxes and filing fees due and owing. The Delaware division of corporations and franchise taxes recently confirmed to Siti telephonically upon cursory review (a practice used due to filing backlogs), that Siti's payments and filings were in order. Continuation for Future Liquidating Distributions Siti will not henceforth conduct business in any capacity. But the corporation will remain in continuing existence after the effective date of its Dissolution solely for purposes of collecting on all sums due and owing to it, and for purposes of bringing suit or defending any claims against it, for at least three years. Such three years is subject to further extension if remaining sums are receivable; or any future obligations become due and payable. No obligations are presently known to exist that Siti has not paid or provided for. This procedure continuing as long as reasonably necessary beyond three years is embodied in Sections 278 and other provisions of the Delaware General Corporation Law for purposes of suit and winding up of corporate affairs. It was explained in the Plan and the related Proxy Statement. Cancellation of Shares in Liquidation The Plan provides for cessation of trading by prompt cancellation of the shares after the Plan's effective date. Further trading in the shares of Siti are expected to cease by Wednesday, December 20, 2006, the operative date of the Dissolution. This date is also the Record Date for former stockholders as to their future entitlement, per share formerly owned, as to any liquidating distributions in future years. This announcement constitutes specific published notice of cessation of trading to former stockholders and to market-makers for SITN.PK, completing several earlier notices thereof. The shares of stock will not be freely transferable thereafter. Future distribution of liquidating dividends on the stock, if any, will be made only to stockholders of record as of December 20, 2006 or their successors by inheritance, succession or otherwise, as per the Plan. The Plan provides for cancellation of all outstanding shares of Siti, in exchange for the $.15 per share liquidating distribution to stockholders made in 2006 and any liquidating distributions in future years, resulting from a recent patent litigation settlement. A net amount of $6,700 further has recently been received by Siti under the settlement (as reduced one-third by fees owed to Siti's special litigation counsel). But material additional settlement sums, justifying the expenses of another liquidating distribution to former stockholders of Siti, appear to be 18 months to two years into the future, if then. However, they may become possible during the extensive life of the patent portfolio involved (expiring at various times as to each patent from 2009 through 2021). Siti is a contingent creditor of the company owning the patents. The Plan covers all such distributions, if any, making each former Siti stockholder after December 20, 2006 entitled to future liquidating dividends pro-rata per share, in accordance with his former share ownership. Such status will apply to each liquidating distribution which becomes feasible, after payment or provision for Siti's costs of collection, administration, taxes, unforeseen expenses and any new creditor claims (not now anticipated) that may hereafter arise. The cash amounts distributed to shareholders in liquidation of Siti in 2006 or hereafter distributed to shareholders, if any, shall be deemed and treated as being in full payment in exchange for the stock of Siti pursuant to Section 331 of the U.S. Internal Revenue Code. The list of former Siti shareholders of record as of December 20, 2006 (the last date for securities trading) shall be used thereafter solely to determine their pro rata entitlement per share to any future cash payments under the Plan that may become possible. Siti notes that there has been very little volume of trading in its shares in the "Pink Sheets" (generally at $.05 per share) since September, 2006 after announcing the Plan. Siti has been telephonically advised by Pink Sheets LLC, that market makers are expected to voluntarily terminate trading as of December 20, 2006 under their individual, existing practices. The cancelled stock certificate of each former stockholder shall be the primary source of its, or its successor, owner's right to receive any future liquidating dividend payments. Other details of the Plan and its economic and federal tax impact on both Siti and its stockholders are described in the Proxy Statement sent to stockholders commencing October 20, 2006, and still available on the Internet as an SEC document duly filed by Siti. DATASOURCE: Siti-sites.com, Inc. CONTACT: Toni Ann Tantillo, +1-914-779-7155

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