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Microcap & Penny Stocks : Bid.com International (BIDS) -- Ignore unavailable to you. Want to Upgrade?

To: F. Evans who wrote (35364)	9/17/1999 10:35:00 PM
From: F. Evans	Read Replies (1) \| Respond to of 37507

GoNorth wrote: >>>ike, looks to me like a burn rate problem. As of the 2nd quarter they've burnt up $30M and it's going to be more after the 4th quarter. I guess this is the reason.<<< * Working capital at the end of June was $21.6 million * The burn rate is about $1.2 million per month * It is expected to decline as BIDS work towards goal of being cash positive or break even by Q4 '99. * New working capital will be over 40 million (with 25 million from Canaccord) >>>Paul Godin, Chairman of Bid.Com International Inc. indicated that "net proceeds of the Issue will be used to fund growth through strategic alliances and acquisitions and for general working capital purposes." <<<

To: F. Evans who wrote (35364)	9/18/1999 12:28:00 PM
From: waldo	Read Replies (1) \| Respond to of 37507

From the Globe: >>News of the alliance did not have a big impact on Mississauga-based Bid.com International Inc., which fell 20 cents to $8.70 on the Toronto Stock Exchange.<< >>For smaller auction houses such Toronto-based Edeal and Bid.com, Mr. Webster said the good news is that they are in the right market. To thrive, he said, small companies must focus on specific niches or explore other opportunities.<< eBay shares tumble on news of new on-line competitor New network headed by Microsoft-Dell will link 100 Web sites MARK EVANS Technology Reporter Saturday, September 18, 1999 Concerns that its dominance over the on-line auction market could be threatened by a new competitor headed by Micosoft Corp. and Dell Computer Corp. drove eBay Inc.'s stock down 6.6 per cent yesterday. eBay fell $10.75 (U.S.) to $141 on the Nasdaq Stock Market on heavy volume. The stock has dropped 66 per cent since reaching a 52-week high of $234 April 27 -- but it is still up 72 per cent since the beginning of the year. San Jose, Calif.-based eBay's fall from grace was prompted by news that software giant Microsoft, computer maker Dell Computer, Web portal Excite @Home Corp. and several other companies will create a network that will link 100 Web sites, including many of the world's most-popular destinations. The FairMarketPlace network will start operating Monday and be administered by Woburn, Mass.-based FairMarket Inc., which already runs auction sites for Lycos Inc. and Dell. FairMarketPlace hopes to win over consumers by having items listed on one of its partners' auctions sites appear on those of other alliance members, making it easy for a large audience to bid on a wide range of merchandise. News of the alliance did not have a big impact on Mississauga-based Bid.com International Inc., which fell 20 cents to $8.70 on the Toronto Stock Exchange. The move by Microsoft and its partners comes less than three weeks after eBay, entered into an alliance with Dulles, Va.-based America Online Inc. to co-brand a consumer-to-consumer auction site aimed at serving AOL's 18 million members. eBay, which has more than three million items in 1,658 categories for sale on its Web sites, has about 70 per cent of the on-line auction market. Amazon.com Inc. of Seattle is a distant second with 500,000 items for sale while Yahoo Inc. of San Jose, Calif. has 100,000 listings. Colin Webster, president with Edeal Service Corp., said the auction market has been so successful that it was only a matter of time before rivals decided to break into the market. Although eBay is the leading player in the consumer-to-consumer market -- where it fills a void for people looking to sell anything from baseball cards to Elvis Presley licence plates -- Mr. Webster said the market is evolving and mega-sites will make inroads by offering business-to-business, business-to-consumer and consumer-to-consumer auctions. One of the new entrants in this market is Ardsley, N.Y.-based Tradeout.com, which is aggressively going after the business-to-business sector. For smaller auction houses such Toronto-based Edeal and Bid.com, Mr. Webster said the good news is that they are in the right market. To thrive, he said, small companies must focus on specific niches or explore other opportunities. Edeal, for example, wants to use its Web site (http://www.edeal.com) as a marketing vehicle as it tries to sell its auction technology to other sites, while West Hollywood, Calif.-based Popula Co. is focusing on auctions for vintage, antique and collectible merchandise. globeandmail.com W