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

To: donkeyman who wrote (4156)	1/3/1999 11:02:00 AM
From: waldo	Respond to of 37507

Good morning everyone! I hope you have all had a great weekend. First of all, I would like to clear up some business from last year, then it will be time to focus on 99. Normally, the best combination for me is to deal with 90% facts and 10% opinion. Whenever that ratio gets out of whack, it usually causes problems. LOL. Hey! ....even a broken clock is right twice a day! I am with the Chief when I say: "what the heck do I know?" There is so much uncertainty out there and it is hard to figure out the agenda of most. What works for me is good old solid research. I take it very seriously, and try to cross check, and even triple check when it is possible. This is what I now believe happened last Friday with the Yorkton cross. It comes from the Sept. Prospectus, which is available on Sedar: >>On October 3, 1997, the Company issued and sold a total of 6,335,000 special warrants at a price of $1.50 per special warrant for aggregate gross proceeds of $9,502,500 pursuant to prospectus exemptions applicable in the jurisdiction of residence of subscribers of the special warrants. The special warrants were issued pursuant to a special warrant indenture dated October 3, 1997 between the Company and CIBC Mellon Trust Company. The special warrants were exercised on February 2nd, 1998. Each unit consisted of one Common Share and one-half of one share purchase warrant. The share purchase warrants comprising a part of the units issuable upon the exercise of the special warrants were issued pursuant to a share purchase warrant indenture dated October 3, 1997 between the Company and CIBC Mellon Trust Company. Each whole share purchase warrant entitled the holder thereof to purchase one Common Share from the date of issuance until 5:00 p.m. (Toronto time) on January 3, 1999 at a price of $1.65 per Common Share. Pursuant to the terms of an underwriting agreement dated October 3, 1997 between the Company, Yorkton Securities Inc. and First Marathon Securities Limited, as additional compensation for services rendered in connection with the sale of the special warrants, the Company granted to Yorkton Securities Inc. and First Marathon Securities Limited special underwriter's compensation warrants which entitled such underwriters, upon exercise and without the payment of any further consideration, to receive warrants entitling the underwriters to purchase up to 633,500 units of Bid.Com at a price of $1.50 per unit at any time or times until 5:00 p.m. (Toronto time) January 3, 1999. 319,000 of the share purchase warrants have been exercised for proceeds of $526,350 and 421,700 of the Compensation Warrants issued to the underwriters have been exercised for proceeds of $632,550.<< W