WARMINSTER, Pa.--(BUSINESS WIRE)--Feb. 25, 1999--Officials at bidnow.com, inc., originators of the TV/ Web auction business, (OTC BB: BIDN - news), announced today that BDO Seidman, LLP has been engaged to provide accounting and auditing as well as tax, and consulting services as bidnow.com, inc. moves into its operational phase.
BDO Seidman's first task, according to bidnow.com, inc. Chief Financial Officer Mark Kadish, will be to audit the company's books and records for the fiscal year ended December 31, 1998. Upon completion of the 1998 audit, bidnow.com, inc. will file Form 10 with the Securities and Exchange Commission to become a fully reporting company. This is another step in bidnow.com, inc.'s strategy for getting listed on an exchange. BDO Seidman is an accounting and consulting organization serving the middle market since 1910.
''We are extremely pleased to have a firm with the reputation and financial skills such as BDO in our corner,'' says William McLaughlin bidnow.com CEO, ''our financial needs demand the highest of standards and we believe BDO brings us that level of expertise.''
BDO says ''we look forward to working with bidnow.com, inc. as their new independent auditors and consultants and believe we will be able to assist them in achieving their goals and objectives.''
BDO Seidman is dedicated to maximizing the wealth of entrepreneurial organizations and the people behind them by providing middle-market know-how and a full range of personalized services throughout the business lifecycle. BDO Seidman serves clients through more than 40 offices located across the United States. As a member firm of BDO International, BDO Seidman leverages a global network of resources to serve clients abroad through more than 490 member firm offices in over 80 countries.
Bidnow.com bridges the worlds of television and the Internet by providing a virtual platform to link auctioneers and bidders. bidnow.com completed testing of both the Internet and television broadcast components of its business model late last year over the Internet and in 7.2 million test cable households. Product manufacturers, specialty collectors or liquidators should contact corporate VPs John Loughlin ( jloughlin@bidnow.com) or Michael Ratigan (mratigan@bidnow.com) for more information, or to list products for auction.
This press release contains ''forward looking'' statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks and uncertainties or other factors, which may cause actual results, performance or achievements expressed or implied by such forward-looking statements to vary from the outcomes implied in this release. Factors that might cause such a difference include, without limitation, decline in demand for the company's products or services, and the effect of general economic conditions and factors affecting the Internet auction industries.
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