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Microcap & Penny Stocks : Bid.com International (BIDS)
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To: auco7 who wrote (2664)12/2/1998 1:35:00 AM
From: Ruyi  Read Replies (1) of 37507
 
A company is treated just like a person.Bii has already been IPO'ed so to speak, so there is no more IPO's in its life. With 32 mill. shares outstanding 22 mill.in public float their best tactic is consolidation 3 for 1 or 5 for 1. 3/1 would tighten the public float to 7 mill.shares at todays prices $8.40 U.S.($12.60 Can.approx.).This new size and price would qualify for NASDAQ listing and be more in line with the float size of U.S. Internet companies .I suggested as such the other day but was attacked as a basher or the ANTI CHRIST.If you look at many Internet IPO they have very low floats 2 to 5 mil. at the most, some even less. Public companies can be bought any time a majority of owners want to sell. Not likely here, management insiders control only 1/3 of outstanding shares,vote would have to be taken to all share holders before a sale could take place. Alternatively a potential buyer could buy through the market to get control.
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