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

To: the Chief who wrote (13456)	3/26/1999 9:10:00 AM
From: waldo	Respond to of 37507

Friday, March 26, 1999 Rumour mill keeps grinding out little gems for Bid.Com Stock hits new high Garry Marr Financial Post Propelled by a rumour mill that cranks out tidbits of information as fast as the Internet will let it, stock in online auctioneer Bid.Com International Inc. might just be selling faster than the items on its Website. Online message boards have been rife with speculation all week about a pending Nasdaq listing and possible takeover bid the for the Toronto-based firm. Bid.Com stock (BII/TSE) rose to a 52-week intraday high of $12.10 yesterday, a far cry from the 56¢ a share it was trading at in October. With volume soaring to more than 10 million shares -- there is only 51 million shares issued and outstanding on a fully-diluted basis -- the Toronto Stock Exchange finally stepped in late Wednesday to ask the firm what was going on. Bid.Com's response? Nothing. There was no news on the Nasdaq listing, first announced Feb. 16, and the rumour of an EBay Inc. takeover was hogwash. Paul Godin, Bid.Com chief executive, suggested much of the interest in the firm was coming from the U.S. "A lot of this buying is coming out of the U.S. This isn't small retail investors, these are people anticipating our stock is going to get to Nasdaq." Bid.Com is growing. Fourth-quarter results released this month show revenue climbed from $1.5-million in 1997 to $6.4-million in 1998. The firm's losses also mounted, from $3.1-million in 1997 to $5.8-million for the same period in 1998. How hot is the company? Its customers are literally buying into its advertising campaign Shop Naked, which features a semi-nude woman making an online order. Bid.Com began selling posters of the Shop Naked ad and demand has been so strong Mr. Godin doesn't even know how many it has sold. With insiders of the firm holding about four million shares -- Mr. Godin wouldn't provide exact holdings -- company executives made about $25-million of paper profits this week. Mr. Godin says he can't "pin down" the Nasdaq listing but says when it happens it "puts the company story to a broader audience and that's my responsibility to shareholders. From there, if we believe in efficient markets, our valuation should reflect other comparables in the sector." That is what has chat rooms buzzing. EBAY (EBAY/NASDAQ), trading about $8 (US) in October, closed at $159 3/8 (US) yesterday while uBid Inc. (UBID/NASDAQ), $30 (US) on Dec. 11, closed yesterday at $76 1/2 (US). Meanwhile, its business as usual for Bid.Com. The firm yesterday said it would introduce advertising on its Canadian site on April 15, something it says will contribute to its revenue mix. Jeff Lymburner, Bid.Com president, said in a release he estimates the Canadian e-commerce market will be worth $10.5-billion by the end of 1999. nationalpost.com W