SITESTAR CORPORATION CURRENT REPORT ON FORM 8-K


                           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): September 16, 2005




                                       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):


[  ] Written communications pursuant to Rule 425 under the Securities Act

     (17 CFR 230.425)

[  ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act

     (17 CFR 240.14a-12)

[  ] Pre-commencement communications pursuant to Rule 14d-2(b) under the

     Exchange Act (17 CFR 240.14d-2(b))

[  ] 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 Definitive Agreement



Effective September 16, 2005, Registrant entered into a Definitive Agreement

acquiring the dial-up internet related assets of Idacomm, Inc. an Idaho corporation.

The deal consists of the acquisition of the dial-up customers, select DSL and web

hosting customers, the related internet assets and a non-compete agreement of the

company.  The total purchase was $1,698,000 which represented the fair value of the

assets acquired, net of deferred revenue.  The transaction also consisted of a non-

interest bearing promissory note of $1,698,000 payable over seven months with the

first payment of $250,000 paid at Closing.



ITEM  9.01.  FINANCIAL  STATEMENTS  AND  EXHIBITS.


(c)  Exhibits


The exhibits listed in the Exhibit Index filed as part of this report are

filed as part of and are included in this report pursuant to Item 601 of

Regulation  S-B.



                                   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:  September 21, 2005



                                    SITESTAR CORPORATION




                                    By:  /s/ Frank Erhartic

                                         ------------------

                                    Name:  Frank Erhartic

                                    Title: President








                                  EXHIBIT  INDEX


Exhibit  No.               Description  of  Exhibit

-----------                ------------------------

10.1                Definitive Asset Purchase Agreement between Sitestar

                      Corporation and Idacomm Inc. dated September 16, 2005

  

  10.2                Secured Promissory Note dated September 16, 2005


  10.3                Security Agreement dated September 16, 2005