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Strategies & Market Trends : Joe Copia's daytrades/investments and thoughts -- Ignore unavailable to you. Want to Upgrade?

To: Gator who wrote (12577)	2/26/1999 11:47:00 AM
From: Know Genius	Read Replies (1) \| Respond to of 25711

BIDN has broken out on major volume. This could be the next major Auction/TV webportal. There is only 1 million shares in the float with 3 million shares outstanding (to the best of my knowledge). I am told that Allen and Company is behind this company but I do not know if that is true. Anyone with any direct knowledge of this company please email me. This is not a reporting company so information is very hard to come by although I am told the company is in the middle of filing a Form 10 to become a NASDAQ reporting company. WARMINSTER, Pa.--(BUSINESS WIRE)--Feb. 19, 1999--In a meeting held Feb. 3, 1999, shareholders overwhelmingly approved a plan to change the name of the Auction Television Network, Inc., (OTC BB:ATVW) to bidnow.com, inc., and change its symbol to (OTC BB:BIDN), underscoring the firm's commitment to the Internet auction business. The new name, bidnow.com, corresponds to the company Internet site uniform resource locator, or so-called URL, www.bidnow.com. In a related move, bidnow.com unveiled a new corporate logo incorporating an auctioneer's gavel streaked across the combined words, bid and now. "As an organization, we wanted to express our commitment to, and belief in, the power and profit potential of the Internet," said William M. McLaughlin, bidnow's chief executive officer. "Our corporate culture, and long term success are grounded in the strength and technological prowess of our soon-to-be-launched Internet site." John Ramsey, bidnow's chief technology advisor, said bidnow.com plans a rollout of an improved auction site at www.bidnow.com, on or before March 15. "I am excited about the progress we have made on this revolutionary software package thus far," he said. bidnow.com bridges the worlds of television and the Internet by providing a virtual platform to link auctioneers and bidders. bidnow.com completed testing of both the Internet and television broadcast components of its business model late last year over the Internet and in 7.5 million test cable households. Product manufacturers, specialty collectors or liquidators should contact corporate VPs John Loughlin (jloughli@erols.com) or Michael Ratigan (ratigan @chesapeake.net) for more information, or to list products for auction. This press release contains "forward looking" statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks and uncertainties or other factors, which may cause actual results , performance or achievements expressed or implied by such forward-looking statements. Factors that might cause such a difference include, without limitation, decline in demand for the company's products or services, and the effect of general economic conditions and factors affecting the Internet auction industries. CONTACT: Virtual Financial Corp., Pompano Beach, Fla. Jim Warner, Investor Relations, 954/783-6992