Rookie Boy,
<<<BTW, your statement that the company had actual revenue of approx. 500K is a fabrication, IMHO meant to mislead the casual reader. FWIW, I've reported it to the Webmaster. I have little patience with posters who are rude, off the topic, obscene or deliberately provocative and then run to the Webmaster when someone does it back...but I have less patience for what appears to me to be a transparent attempt to scare potential or current investors.>>>
Page 33 of the April 15 SEC filing for BIDS shows gross revenue of USD $13.066 million for FY 1998...
This revenue figure includes the value of the products sold. BIDS in most cases never takes possession of this product, rather they act as a middle man...
When you take out the value of the products, you get BIDS "actual" revenue as I have defined it, amounting to approx. 3.9% of $13.066 million, or approximately 510,000... Less money than I personally make a year.
That measly 510k is all that BIDS has available to pay advertising, employees, internet development costs, hardware and software maintenance etc... Without dipping into their meager amount of cash.
Bottom line, their actual gross revenue of 510k is not nearly enough to pay their bills. Furthermore $510k is an accurate number for actual gross revenue. Furthermore, to brek even, BIDS would need to HUGELY increase their revenue - something NO LEADING internet auction site has been able to do... So the potential of BIDS - a nobody in the auction biz doing it? ROFL!!!
How's that foot in your mouth taste?
All Comments Are The Express Opinion Of The Author |
