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

To: Ian A. who wrote (8631)	2/3/1999 5:57:00 PM
From: Golden Domer	Read Replies (5) \| Respond to of 37507

A point on the release of financial results There's been considerable discussion (and debate) on this thread regarding the timing of the release of BII's 4th quarter 1998 and full year 1998 financial results. Some writers have stated that financial results will not be released until the company's "audit" is complete, which may not happen for some time. I don't know what is customary in Canada, but here in the U.S. companies typically press release their 4th quarter and year end financial results by the end of January. But the numbers in these press releases are NOT typically audited. For example, when Ebay announced its 4th quarter and 1998 year end financial results on January 26, the numbers in its press release were unaudited. The audit is completed later (usually by the end of February). The audited financial statements are required to be included in a company's Form 10-K (annual report), which is required to be filed with the SEC no later than 90 days after the end of the company's fiscal year (i.e., March 31 for calendar year filers). The Form 10-K is ordinarily filed in March -- in fact, some companies wait until the last day or two to make their 10-K filings. The sequence of events, then, is: (1) earnings are released to the public (with unaudited numbers) (2) audit is complete (3) 10-K (with audited financial statements) is filed by March 31 So what's my point?!! My point is simply, unless you all do things differently up in Canada, BII does not need to wait until its audit is complete to release its 4th quarter and 1998 year end results. Note: Most (if not all) U.S. companies will tell you the precise date that they expect to release their earnings to the public. Has anyone called BII and asked them when we can expect to see its earnings?