Enterprise Diversified, Inc. (OTCQB: SYTE) announced that it has sold its Phoenix-based home services subsidiary, Specialty Contracting Group, LLC (previously known as HVAC Value Fund, LLC).

ENDI provided certain assets to the buyer in exchange for a royalty stream over the next five years. Specifically, ENDI will receive 7.5% of revenue generated from qualified sales in the first year and 5% of revenue in years two through five. Other nonmaterial assets and liabilities were assumed by the buyer.

"This transaction allows us to better focus on Willow Oak Asset Management, our asset management subsidiary," said ENDI's executive chairman, Steven Kiel. "We are excited about Willow Oak's future and look forward to strengthening our current relationships and continuing to build new relationships with strategic partners, investors, and shareholders."

About Enterprise Diversified, Inc.

Enterprise Diversified, Inc. is primarily an alternative asset manager with interests in several diverse business activities in the following industries: asset management, real estate, and internet access. Copies of Enterprise Diversified's press releases and additional information about the company are available at https://www.enterprisediversified.com.