GUYS CAN NOT SAY YOU WERE NOT TOLD LAST WEEK TO WATCH...
MEHO- read old news...this stock just opened for trading
with bid/ask showing on wednesday...was only 1 mm on the stock at .25 x .625,since then 2 more mm have come and bumped the bid up and
the ask has since gone up...I.M.O opinion judging from everything they have this is an easy 2.00 stock judging from lack of shares out there.. With the acquisition of the Capnet Group of Companies, there are
now five operating divisions of the company:
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1. Bidfair.com. An Internet online auction and classified
advertisement retailer.
2. Bolingo.com. An Internet retailer of high-technology products
such as computer accessories, hardware and software.
3. Capnet.com:
Capnet Gateway Online Services
Capnet Electronic Drug Store
Capnet Document Archiving
Capnet News Service
4. PricePickers.com and PricePickers.net. Internet shopping
retailers.
5. Capnet.IPA. Health-care transactions.
The company generated revenues from operations of $639,892 during
the six-month period ended June 30, 1999, compared with revenues from
operations of $165,239 during the six-month period ended June 30,
1998. This represents an increase in revenues of 387% from the year
earlier.
The acquisition of the Capnet Group of Companies was completed on
May 25, 1999. The financial statements for the periods ended June 30,
1998, and June 30, 1999, include the consolidated operations. The
company recorded a net profit from operations of $107,837 during the
period ended June 30, 1999, compared with a net operating loss of
$125,829 during the period ended June 30, 1998.
Cash and cash equivalents totaled $71,130 at June 30, 1999,
compared with $7,889 at June 30, 1998. The increase in cash was due to
the acquisition of the Capnet Group of Companies.
The company had net working capital of $237,948 at June 30, 1999,
compared with $10,467 at March 31, 1999. This increase in working
capital was due to the restructuring of the long-term liabilities,
infusion of additional capital and the reduction of accounts
receivable.
Management anticipates that general operating expenses will
continue to remain constant or decrease slightly due to the fine-
tuning of operations.
The company incurred a profit of $71,212 for the second quarter
of 1999, as compared with a profit of $36,625 for the first quarter.
This profit, lower than anticipated, was due to the amount of time,
effort and resources that were required to complete the acquisition on
May 25, 1999.
There are no seasonal aspects of the company's business that had,
or are expected to have, a material effect on the financial conditions
or results of operations.
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