>>it provides some good insight for the future <<
Here are some other points I have found interesting about what Bid.Com is planning.
By the way, I hold Bid.Com shares but I have also covered my position with offsetting Puts. I did this as a form of insurance, in that the wild fluctuations brought on by misinformation and manipulation that is floating around about the stock.
So, you could say that from a financial gain perspective, I shouldn't care about where this company's share prices are headed. I believe that this makes my comments a bit more objective than some of the others who are interested in scaring others into selling their shares.
Bid.Com is / has . . .
- Rapidly become one of the most recognized Internet Auction related Brand Name in North America.
- Is close to delivering a TV cable content product that has the potential to bring the interactive auction format to all homes with TV's. The BidStudios information this morning supports this.
- Has over 2 years of greenfield work in Europe under their belts, and the CEO has announced that they will be announcing the European launch of their business in less than 60 days.
- Has the patent on the declining auction format. (Of the approximately 300 sites using auctions to move product, the ones using this format will have to cease doing so, or pay Bid.Com royalties. Note: Some big name sites use this format now). The CEO has announced that they already have started signing licensing agreements with other firms
- Bid.Com has signed a major deal with an association of re-sellers to support their Business to Business efforts. They see this as a major growth area for their business.
- They have six revenue streams to draw from, and although it is a major contributor to their income, they do not have to rely on the revenues generated from their auction site alone.
- They have 4 major Market Makers in the U.S.. Each carries significant influential weight in their own right. We have been told to expect coverage soon.
- (It is my understanding that . . .) Bid.Com has been approached by a major Auction house and they were made an offer for their company. The offer was turned down.
- IBM has announced that they have a team of Scientific researchers and technicians studying the Internet auction business. They are doing this because they believe that the potential business opportunity is significant. In the report I read, I recall that the declining price action was one of the primary formats that they were looking into. They see these auctions as a future growth area.
There is much more that could be added to support why I believe in the long term future of this company, however I also believe that people should do their own due diligence.
Once again, I am covered no matter which way the stock moves now. However, despite this, I am concerned that people may be duped into believing that there is nothing under the hood of this vehicle. I see it as the management is fine tuning the engine, and when it is firing on all cylinders, it will be hard to beat. Then again, when it is ready, another firm may just want to buy it so that they can take it to the track themselves.
By the way, I am in the middle of preparing my tax returns, and unfortunately, I will not be able to respond in a timely manner to any responses I receive on this post.
I remain, a . . .
Crazy Canuk
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