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

To: F. Evans who wrote (23918)	4/21/1999 9:12:00 PM
From: BlueChip	Respond to of 37507

Could not have said it better myself!!!!!! Another dance anyone???????? hamsterdance.com

To: F. Evans who wrote (23918)	4/21/1999 9:21:00 PM
From: RG	Read Replies (1) \| Respond to of 37507

Now I know why Yorton downgraded Bid.com: Read the update of their announcement: If I read it correctly, Yorkton was provided with the option of buying 3 million shares...... Bid.Com Cut by Underwriter of Last Three Financings (Update1) Bid.Com Cut by Underwriter of Last Three Financings (Update1) (Updates with details of underwriting compensation in 6th paragraph through end. Adds closing shares.) Toronto, April 21 (Bloomberg) -- Bid.Com International Inc. stock was cut to ''underperform' from ''speculative buy'' by Yorkton Securities Inc., the investment bank that underwrote the online auctioneer's last three financings. Analyst Mark Pavan said the stock's recent gains, its valuation relative to competitors and increasing competition prompted the move. Shares of the Toronto-based online auctioneer fell C$5.10 (US$3.37), or 25 percent, to C$13.90, the fourth straight decline since a two-month rally drove them as high as C$30.70 on April 8. Bid.Com shares fell 3 7/16 to 9 3/8 in the U.S., where they began trading yesterday. ''Based on our analysis of the comparable company environment, we believe that Bid.Com is trading at an excessive premium,'' Pavan said in a research note to investors. Pavan said Bid.Com is trading at 38 times annualized revenue, compared with an average multiple of 2.7 percent for other companies in its industry, including eBay Inc., uBid Inc. and Onsale Inc. Toronto-based Yorkton raised C$9.5 million for Bid.Com in the company's first private placement of special warrants in October 1997. Since then, Yorkton has underwritten two additional Bid.Com financings. Yorkton received warrants as part of its compensation for the three financings, providing the firm with the option to buy as many as 3 million shares at a total cost of C$7.2 million. The Toronto firm has said it exercised many of the warrants and has sold an unspecified amount of the stock. Yorkton's stake would have been worth as much as C$92.1 million at the time the stock touched its record high, according to calculations based on information in Bid.Com filings with the U.S. Securities and Exchange Commission. At an average share price of C$7.03 over the past six months, Yorkton's stake in Bid.Com is worth C$21.1 million. The shares of two of Bid.Com's three competitors in the U.S. rose. eBay Inc. rose 4 1/4 to 166 3/4 and uBid Inc. rose 4 7/8 to 49. Another rival, while Onsale Inc., was unchanged at 24.

To: F. Evans who wrote (23918)	4/21/1999 10:51:00 PM
From: Cameron	Respond to of 37507

I always seem to be agreeing with you Frank. Let's all just sit back, watch and wait. I'm sure we'll see a fairly constant series of press releases starting up next week with a lot of positives coming out. I think bid.com has probably already hurdled their first major challenge - building awareness of the company (boy have they ever)!!! I imagine bid.com is top of mind with a lot of investors. Next task is to communicate the right message about the long term potential. I imagine that the Q1 results will really help kick off this area. Then we'll see a lot of follow up with strategic alliances, marketing plans, etc. It would have been great if this had taken off from the start on NASDAQ.. but sometimes these things take time. We have to give managment time to do their stuff. Brands, companies and stocks aren't built overnight.