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

To: Steelguy who wrote (10426)	2/23/1999 10:41:00 PM
From: Crazy Canuck	Respond to of 37507

I believe that Jerry B. nailed it on Feb. 17 for what we could expect for the next 10 days of trading. People are unloading their warrants so that they do not lose them. Why buy when you know that people have to sell. Wait them out and hope that the price drops. Once all these warrants are worked through the system, then watch the shares rise. The old supply and demand thing again. Here is Jerry B.'s post. If I'm reading this correctly, I understand what is happening now... It's called Use E'm or Lose E'm! Please correct me if I'm wrong, this is taken from bid coms nasdaq filing form 20-F "November 1998 Special Warrants. On November 30, 1998, the Company sold in a private placement 5,714,984 special warrants at a price of Cdn$1.75 per special warrant. The Company received proceeds of Cdn$10.001 million. Each special warrant entitles the holder thereof to acquire, for no additional consideration, one unit consisting of one Common Share and one-quarter of one share purchase warrant. The special warrants issued by the Company were exercised on January 28, 1999 for 5,714,984 Common Shares and 1,428,746 share purchase warrants, each exercisable to purchase one Common Share at Cdn$1.75 per share. Of these share purchase warrants, as of February 8, 1999, 145,500 were exercised, resulting in proceeds to the Company of Cdn$254,625. The remaining 1,283,246 warrants are exercisable until 5:00 p.m. (Toronto time) on the date which is the earlier of (i) 10 business days following the date upon which the Company delivers a notice to all holders of share purchase warrants confirming that it has filed a preliminary prospectus or registration statement in connection with a public offering in the United States of America of at least Cdn$7.0 million, and (ii) December 31, 1999." bid has the same deal with rogers. if the approval takes 45-60 days? lets see......10 days to dump. still leaves 30 days to get the price to $7.50 can. Hmmmm, how many more days till the 10 day window closes??? Crazy Canuk