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Technology Stocks : 2TheMart.com TMRT -- Ignore unavailable to you. Want to Upgrade?

To: realmoney who wrote (114)	3/24/1999 12:06:00 AM
From: LITTLE MAN	Read Replies (1) \| Respond to of 1494

I won't call you a dick because you haven't wrongfully bashed anyones character. Your definitely entitled to your opinion. And you ask some real legitimate questions. Maybe they'll be answered and maybe they won't. I'm not hired help, I would just like to see ebay have a good competitor instead of locking up the whole market. I'm not on anyones side and I think everyone has jumped the gun here on both sides. You guys come from a very jealous place, like your pissed you didn't get it sooner so why should anybody else have some.

To: realmoney who wrote (114)	3/24/1999 10:41:00 AM
From: Smilodon	Respond to of 1494

Info from the LA Times: Irvine Firm's Stock Soars on Plans for Auction Web Site Internet: 2TheMart.com's merger, online trade goals send share prices up as much as tenfold, despite lack of details. By JONATHAN GAW, TIMES STAFF WRITER Los Angeles Times Thursday January 21, 1999 Orange County Edition Business, Page 1 An Irvine company that on Wednesday said it plans to launch an auction Web site has seen its stock soar as much as 10 times in price this week, even though the company provided scant details about its operation. 2TheMart.com Inc. on Tuesday purchased San Juan Capistrano-based CD-ROM Yearbook Co. in a move to take advantage of CD-ROM's access to public markets. A new board of directors was appointed and the company moved to Irvine. On the same day, the stock, which is traded over the counter, jumped from $4.50 to $13 a share. The stock surged 65%, or $8.50 a share, to $21.50 on Wednesday, making it the 10th-largest percentage gainer in U.S. markets. At one point, the shares traded as high as $50. One week earlier, they closed at $2 a share. Before the acquisition, stock of CD-ROM Yearbook had been lightly traded. Since the company began trading last March, there were only 19 days in which any activity was recorded. Until recently, a total of just 7,200 shares had exchanged hands at an average price of $3.48. But on Wednesday, after the company said it would begin "one of the largest and preeminent online auction sites," a total of 244,200 shares changed hands. The company said it had received $1.7 million in cash and commitments for an additional $1.5 million to "fund 2TheMart.com's business plan, acquisitions, strategic alliances and working capital." But the announcement gave no details of how it would market such a site, which would include live video auctions. 2TheMart.com and CD-ROM Yearbook officials did not return telephone calls. The $3.2 million in funding is less than one-tenth of 1% of the $8.6-billion market value of EBay Inc., which 2TheMart identified as its primary competitor. Although the company's news release said it would launch a person-to-person auction Web site, it also listed as competitors three companies that do not run such auctions. The company's Web site currently consists of several advertisements for unrelated Internet services and a notice that a site is "coming soon." The name 2TheMart was registered to BLI Enterprises Ltd. in Las Vegas and Dominic J. Magliarditi, 2TheMart.com's president. Magliarditi would not comment beyond the news release and referred calls to his attorney, who could not be reached. Calls to BLI went unanswered. Magliarditi is listed as an officer of at least 12 Nevada companies that participate in activities ranging from investment to gambling to real estate development. In 1997, he lost a bid to gain a license to operate a casino in Henderson, Nev. Neither 2TheMart.com nor CD-ROM Yearbook has filed regulatory reports, according to the Securities and Exchange Commission, but the SEC does not require such filings from companies that are sufficiently small, a spokesman said. It was unclear how many shares in the company are outstanding, who its major stockholders are or how many employees it has. Copyright, The Times Mirror Company; Los Angeles Times, 1999.

To: realmoney who wrote (114)	3/24/1999 10:42:00 AM
From: Smilodon	Read Replies (3) \| Respond to of 1494

LA Times, Part II: Internet Fever Gives 2TheMart.com Stock Wild Ride to 19% Loss By JONATHAN GAW, TIMES STAFF WRITER Los Angeles Times Friday January 22, 1999Orange County EditionBusiness, Page 1 Type of Material: Infobox; List Irvine-based 2TheMart.com Inc. saw more volatile swings in its stock Thursday, a day after the fledgling company announced plans to launch an auction Web site. After jumping 40% at the outset, 2TheMart.com's stock closed the day at $17.38, off 19%, or $4.13, from its closing price the day before on the thinly traded over-the-counter market. But the shares still were trading nearly nine times above their price a week ago--all for a company that has no products and no revenue and faces heavy competition. "This is very much a start-up company," said Richard Cutler, 2TheMart's attorney. "At this point it's trading on the Internet fervor just like everything else does." On Wednesday, the company said it had received $3.2 million in funding to build a person-to-person auction Web site to compete directly with EBay Inc., the Internet giant, which has a market value of more than $7.3 billion and claims more than 1.3 million users. Indeed, many Internet companies have seen their shares soar in frenzied trading. After its initial public offering was priced at $18 last September, EBay's stock rocketed to $321 a share Jan. 8 before taking a series of sharp hits in recent sessions. On Thursday, the 3-year-old company's stock slumped $32 a share to $181.75 in heavy trading on the Nasdaq National Market. Cutler shed more light Thursday on 2TheMart as well as its operations and plans. The attorney provided a four-page summary of the company's business plan outlining how 2TheMart would leverage its "unique business model." But the plan consisted almost entirely of paragraphs that appeared word for word in filings that EBay submitted to regulators last year. 2TheMart.com officials did not provide an explanation for the similarity. Cutler also gave an address for the company that turned out to be a post office box in Irvine. He said later that the company planned to purchase a building soon but that he had no other address for the company, which is supposed to be headquartered in Irvine. 2TheMart.com has 20 million outstanding shares, pegging the company's market value at $347.5 million, but Cutler said 19 million of those shares are held by its two officers, Dominic Magliarditi and Steven Reibel, who have been business associates in Nevada. Neither Magliarditi nor Reibel has a background in technology, but they have a long history in business, particularly real estate, Cutlersaid. "They have business savvy and business contacts that have allowed them to put the company in place," Cutler said. The officials have not sold any of their shares during the stock's recent run-up, Cutler said. He insisted that the company is preparing a Web site "that is technologically superior to EBay." The site should be up by the end of February or early March, he said, and will "improve the value of the product and the delivery systems." Still, financial analysts questioned whether the company has the wherewithal to succeed in the marketing wars being waged on the Internet. "If they are just following a path that appears to be successful, you have to look very carefully at who is backing them, what kind of assets and track record they have and how well they're run," said Phil Leigh, a financial analyst with Robert Stevens. Leigh, who follows electronic commerce, said he had not heard of the upstart 2TheMart.com. "The key determinant to success in cyberspace is going to be traffic, so unless these people can document that they have sizable traffic statistics that compare favorably to EBay, a prudent person would question why they would get the traffic that EBay has, or even a fraction of it," Leigh said.