Kim Lim, I can answer some of those questions partially since I asked nearly all of them:
1. Year Company Founded? & Name of the CEO
- founded a while ago for eye services training, but recently ~taken over buy the web auction focus by Larry Schaffer, he's the President and I'm guessing the CEO for now (they just got started)
2. Name of the transfer agent?.
- their financing is being done privately (will be completed early April), focus appears to be to develop an option plan for new high quality software employees (~10) so they don't have to actually payroll them much, which is good because they'll be motivated by their options to get things done well and fast so their options are worth more.
3. Any class action ligation again the company recently?
- didn't ask, but haven't found any indication of one.
4. Total authorized shares?.
- not sure
5. Total float shares?
- float is currently 2.5 million after a 1 for 2 split, float is now half od what it was, and price was doubled. I believe the price before the split, the last day before the name change, was ~$0.75 on March 17, so the split would make the price $1.50, and we are currently only 33% over that at the $2 level. Not much of a runup considering the news, split, and name change, not many people knew about this apparently, although there was a runup in the company prior to the change, probably from acquiring by insiders.
6. Total % shares held by the insiders?
- asked, Larry didn't have exact updated figures, but he'll have them soon, he's one of, if not the biggest shareholder with 100,000 shares.
7. Any investors kits?
- yes, they'll send you one if you ask, it includes all reproted financial information for the old company, which were reported to the Candadian SEC (it traded up there as well) but not US SEC (common practice among small firms that can't afford to meet SEC filing requirements. All the old information about the vision training company will likely be good background info, but the sexy web auction stuff is all brand new and constitutes the real future value of the company IMO. They are developing investor info on this business, but since its in development we'll probably have to settle for PRs until they get everything up and running. The website will be updated VERY SOON to include detailed info on the business plan (modeled after EBAY), the current site info is simply their mission statement (i.e. if you've found out about this company this early you are really in at the ground floor).
8. In House IR contact information.
- I doubt they have an IR person yet, and may not get one until they have more info to make public about the company. I asked to speak to Larry directly, and I had to call a couple times because, as you might expect, he's got a job to do. He's probably the best contact, but it'll save him time if we e-mail most of our simple questions to him. The feeling I got from actually talking to him was that he really knows what he's talking about, and this will be a serious business. You can't get that feeling from an e-mail, so some people may want to call just to get sense of how real this plan actually is.
9. Name & contact of the PR information.
- name on PRs is Norman Schwartz, who is the company CFO. Haven't spoken to him, but in a copmany this small he probably has many functions as well.
10. When will be the next Press release? and what will be general content of the press?
- PRs will be coming soon, and frequently, especially once financing is complete and they can annoucne everything that they will be doign with the financing (i.e. using options to pay experienced software engineers, advertising, deals that are already made or in the works).
11.Any plan for investor conference calls?
- not to my knowledge, but again its probably much to soon for this. I'm sure we can request one sometime beofre the site opens (in ~100 days), but anyhting sooner is porabbly premature.
12. How do your company dissemination information to the potential
investors?.
- they've already issued national PRs, I was put on their mailing list, which will probaly start sending stuff out very soon. I doubt they'll have an e-mail listserv or fax operation up anytime soon, its easiest (and cheapest) for them to send out PRs so everybody gets the info at the same time.
13.Company financial statement for investors?
- they can send out financial statements filed for the old company form previous quesrters, but they probably won't mean too much. Obviously they'll have no statements for the new business until its up and running, btu as Larry pointed out, these types of business can generate enormous revenues in a very short period of time, with very littel overhead.
the reason I like this investment so much is that they have experience (WEBY), and they have a vision I can buy into. Their vision is to begin with EBAY's business plan, improve upon it, and focus on high end items (ala MLRE and Sothebys), which IMO will be the real focus of independent auction sites in the future. Auction items like computers and TVs will soon be done by everybody, even retailers, so the unique auction sites will have to offer items that everybody else can't sell, one of a kind and high quality/price items that are only on singular websites. EBID is focused on striking some major deals (some are already done/in-the-works) so that when their site opens it will have already generated some major attention. Once financing is done, they'll issue some big PRs with some press worthy names IMO that will send this puppy to the moon. Rememeber, the new guys will always be the sexiest on the web, and these guys could make MLRE an afterthought, and if the stay focused on their niche, they could become a real leader overnight. I am very pleased with myself for getting into this one so early, we'll all be rewarded after financing is complete.
Good luck all, hope this addressed most of you questions Kim. If you have any others you should e-mail them to larrys@acubid.com or larrys@ebid.com, I can't remember which it was. |
