<<Bid.Com does actually make money .. 30 million in '97 & 60 million by the end of the 3rdQ of '98 .. small yes but growing it nicely.>>
Here are the numbers for BII first 9 months of '98:
REVENUE $ 13,712,527
COST OF GOODS SOLD 13,422,462
290,065
EXPENSES
Advertising and promotion 8,901,837
Computing and communication fees 150,620
Depreciation and Amortization 135,702
Filing fees and investor relations261,134
Interest expense 5,316
Office and general 984,142
Professional fees 332,081
Salaries and consulting 1,651,368
Software development and expense 493,882
Travel and entertainment 249,691
13,165,773
NET LOSS FOR THE PERIOD $ (12,875,708)
DEFICIT, BEGINNING OF PERIOD (8,971,079)
DEFICIT, END OF PERIOD $ (21,846,787)
LOSS PER SHARE $ (0.62)
Due diligence is not only following what every dumb like me says on SI. Download the real numbers from SEDAR:
sedar.com
Far from 60 millions by the end of the third quarter. They had a loss of 12.9 millions on sales of 13.7 millions. They even sold under cost in 1997. They are selling at cost and will have to do so even more to face the competition.
IdiotJed |
