I think there is a bit of exaggeration on this thread today. I have been a holder of BIGE since less than 10 and I am of the opinion that the company is making inroads to improve the profitability for future periods.
I read an article today mentioning that the margins for BIGE are in the 15-20% range, these numbers arent bad (better than AMZN margins reported today) and they mentioned near term bottom line profitability.
As for the salaries given to the executives, the numbers are in line with CEO pay of an average company, internet or not. I think they have full right to the shares, as originators of the venture, they receive options and rights to the shares. I dont think anyone would complain if they had rights at 3 dollars a share if they gave return to the shareholders, I know I wouldnt. If a company thrives the people that started the company have the right to share in the bounty. I bet the options/rights werent given when the stock was at 3, so what is the big deal?
Dont be tossing in the towel on BIGE just yet, it seems to me that these people are in this for the long run and are making changes to the website as input is given by shareholders. I wouldnt doubt if they expanded the auction site, made it better and expanded the products and offerings.
I dont know if anyone here has visited Onsale auction site recently, it is 1000X better than when they first set it up.
I am not here to say that the stock is going to 100, but I wouldnt be too suprised when the next earnings report comes that BIGE does better than a few today are anticipating..
Finally, the Quarterly report that is being mentioned was in fact issued in September and was for revenues ending August. I have seen information in releases that sales have greatly exceeded expectations and will continue to do so. BIGE will be under pressure as internets come under pressure, but I have also noticed a large number of alliances they are forming. They are always active in making their business better.
Be careful in mentioning that the company is up for Naz delisting, if the information isnt accurate, there can be ramifications by the company...
Just a few thoughts, but hardly a recco to buy or sell.. |
