posted on February 4, 2001 05:04:25 PM new
Howdy to all basement buddies,
I've been reading the posts by y'all and it's funny. It's apparently that most of you are successful business owners. I just feel it in my blood and I confirmed it with my psychic.
I've been a member of bidbay for a while and on a firm note I am very aware of the stock market.
Many of you, rrt, tuition44, seabhs, keep barking in the basement. I would assume bidbay was smart to throw you out for causing the same trouble. Oh, Yeh, y'all are so, so smart, that's why you spend your time barking here. Get on with life.
As to their filling, 3 million in a loss, so what. They are after all second to ebay, and I'm pretty sure they have a game plan of success.
Yes it's true many dot coms are lost in cyber space now due to the fact that they have no business model but advertising.
And, since, venture capital money has run out, ad money went with it.
I'll be the first to jump on the stock. Look at ebay's stock, what if you were the first investor. Same model, same plans, once it's advertised nationally, well, I'll bet ya they'll be neck to neck.
posted on February 4, 2001 05:13:33 PM new
Just joined today? How convenient! I was taking up for Bidbay but now I SMELL A RAT! Me thinks they do protest too much!
posted on February 4, 2001 05:27:21 PM new
Amazing how it never stops. Me think the following: Conspiracy by y'all, hired on by someone to degrade and put down a site. Has anyone of you ever hear of the term, "interfering with business economics" me don't think.
Why? It is obvious that your job is to do just that. All this energy, looking at stats, reading SB2 fillings, amazing.
posted on February 4, 2001 05:35:29 PM new
"Same model, same plans, once it's advertised nationally, well, I'll bet ya they'll be neck to neck."
ahhh...sorry to break the news to you, but it's not exactly the same...
1) ebay charges a listing and FVF fee, bidbay can't afford to do that...ever!
2) ebay makes makes money for it's sellers, Bibbay makes funny money for it's sellers,
3) ebay has profits since it was founded in 1995, bidbay has negative profits
4) Companies usually go public when they're making a profit (something investors look for these day), which ebay did back in 98...bidbay will go public with massive debt and no guarantee of profits
Sure, Bidbay can do all that eBay has achieved, but I don't see that happening...Once they start charing listing fees, the site will go kaput...Just check out Yahoo, and that's a powerhouse in the internet world.
posted on February 4, 2001 05:43:14 PM new
Rafael EBAY STOCK?
LOL 52 week high 127.50 current $46.22
Not to mention PE Ratio of 271.88
Yeah jump on another stock like ebay and loose a fortune.
The truth will come out when/if Bidbay goes public.
With a first post like your own you are asking to be flamed.
These boards are for auction subject not for attacking individuals by name.
Sure this thread will lock up in record time
Joe B
posted on February 4, 2001 05:52:09 PM new
Doesn't anyone remember George going on his chat boards and bragging about signing up with some secret NASDAQ company for 15 million users. This is something he also stated once again in his phone call with me the other night.
Well if you check out his SEC Filing he states there he signed up with Speedy Click for 2 million users.
About 13 million shy aincha Jorge?
And check out this character
DONALD DAYER
(BidBay's SEC Filing)
"Dayer owns 18.7% of the common shares of
BidBay.com, was instrumental in establishing BidBay.com and
has been a fund raiser for BidBay.com. Mr. Dayer was the
subject of a permanent injunction obtained by the Federal
Trade Commission (FTC) in the U.S. District Court for the
Central District of California for the fraudulent
telemarketing of investments in Federal Communications
Commission (FCC) paging licenses (FTC Permanent Injunction)."
FRAUDULENT TELEMARKETING INVESTMENTS???!!!!
(Source: BidBay's SEC Filing)
"Mr.
Dayer is also involved at the present time as a defendant
before the courts of Pennsylvania for selling securities in
Pennsylvania without a license in that state. See "LEGAL
PROCEEDINGS" herein."
This is murky stuff here...I just wonder what lies beneath that we can't clearly see.
posted on February 4, 2001 05:53:09 PM new1) ebay charges a listing and FVF fee, bidbay can't afford to do that...ever!
Strange thing here is that it has been announced that Bidbay will start charging for bold listings, featured items, and FVF fees I believe. Perhaps you missed it.
2) ebay makes makes money for it's sellers, Bibbay makes funny money for it's sellers,
Ebay has ruined the market for several categories including the automotive listings. The creation of ebay motors has ruined this field. Also the book sellers have taken a direct hit because of ebay purchase of half-com books. Bidbay's BBB program helped many have a Christmas that otherwise wouldn't. Go ahead and support the monopoly that doesn't care about their sellers. We will remember who you are.
3) ebay has profits since it was founded in 1995, bidbay has negative profits
Personally I would like to see ebay's profit in 1995. Got anything to back your statement up with?
4) Companies usually go public when they're making a profit (something investors look for these day), which ebay did back in 98...bidbay will go public with massive debt and no guarantee of profits
Ebay doesn't have guarantee of profits, no business does.
Sure, Bidbay can do all that eBay has achieved, but I don't see that happening...Once they start charing listing fees, the site will go kaput...Just check out Yahoo, and that's a powerhouse in the internet world.
Do you really believe they would make the same mistake as Yahoo? I think not.
posted on February 4, 2001 06:07:01 PM new
Conspiracy?
Are you "!Rafeal" on bidbay? Funny that your only feedback is from an employee of bidbay for an item that is titled "test". The feedback is positive and says "Rachel" whatever that means.
Do you work for them? Oh and no, I have never heard the term "interfering with business economics", nor do I see how people pointing out highlights of officially filed government documents would apply to this term.
posted on February 4, 2001 06:10:19 PM new
it is all public record and auctiongallery you are correct. The filings DID say they would charge a listing fee.
posted on February 4, 2001 06:13:11 PM new
rafaelva,
Your posting privileges have been suspended as it appears to have been created for the sole purpose of disruption, not to mention insulting the AuctionMembers named in your post.
posted on February 4, 2001 06:17:19 PM new
darn it, I wanted him to respond! guess we'll never know if he was a bidbay employee or not. surely the boss over there would never do such a thing???????
posted on February 4, 2001 06:18:37 PM new
Hey Auctiongallery2,
I would bet the filing has been worked on for some months. In fact I know it has based on what has been posted on the Bidbay boards.
At first I believe that George at one time was thinking about charging listing fees but do to that fact of what happened at Yahoo and the screams of the Bidbay sellers on the boards I bet he changed his mind. Perhaps later the filing could be changed? ~Vette~
posted on February 4, 2001 06:23:12 PM new
Could be true Vette, but what about this Donald Dayer character?...and what about the speedy click only being 2 million?
He claimed 15 million back in the fall as well as in our conversation just a few nights ago.
posted on February 4, 2001 06:38:32 PM new
I had heard a little bit about him back when someone kept posting the link to the Pennsylvania's SEC site with the BidBay story...but could never get it confirmed until now.
posted on February 4, 2001 06:42:38 PM new
Coolvette wrote: "Personally I would like to see ebay's profit in 1995. Got anything to back your statement up with?"
Sorry, don't have 1995, but in 1996 they were profitable.
posted on February 4, 2001 06:59:24 PM new
There are no SEC filings that discuss 1995 and their operating costs in 1996 were only around $350. These two things lead me to believe that there was no eBay Inc. in 1995.
posted on February 4, 2001 07:04:42 PM new
KewlVette, what about the other years that ebay made great profits? No mention of them in your reply, wonder why?
posted on February 4, 2001 07:06:09 PM new
Here is what matters most.
They have no underwriter (ie Goldman Sachs. Merrill Lynch etc) They are attempting to do this themselves on a best efforts basis.
They will list O.T.C.
When a major underwriter takes a new auction site public...Then you should pay more attention.
posted on February 4, 2001 07:11:05 PM new
Because I'm jumping from thread to thread and personally I'm glad to see the profits ebay made in 1996 because it shows profits can be made in the online auction industry.
In this day and age however it's not going to be as easy in 1996 to make a buck!
posted on February 4, 2001 07:13:38 PM new
Actually, I don't hang out in the basement much .. unless hubby points me to something 'interesting.' I used to come to the Gold's thread but it's gone .. as is Golds.
Coolvette stated:
Ebay doesn't have guarantee of profits, no business does.
You're right, they don't! BUT what they DO have is a track record of profits which is indicative of their future potential and their business management skills.
Everything people are saying here about bidbay in terms of the info in the SEC filing is fact .. it's there in black and white! Anyone who has any experience in analyzing stock offerings can see it not only doesn't look good, it looks terrible. Lawsuits, people who've been in trouble are STILL active, etc. It's long but it's interesting reading.
Speaking of which .. that was my only comment on this entire matter until now so lighten up on calling me a bidbay basher who's got something against the site (whoever said that).
It bothers me when people take facts that are as clear as the nose on their face and try to make them something they're not! Accept it .. they are what they are whether 'you' like it or not! There are lawsuits, there are shady dealings, there are massive losses, there is no sign of anything changing for the better that I can see. If anyone sees something in that filing that indicates otherwise, please .. refer me to it. I didn't see it.
This isn't a personal thing with me. I've not had the wonderful experience of being called disgustingly fat or dog-ugly (or worse) on the BidBay singles chat board so, while I don't hold 'some' of the users in very high esteem, I have no reason for a grudge. I am also aware that it is a minority of BidBay users who feel it is alright to treat peole that way .. certainly doesn't apply to the majority .. most of whom I don't even know.
I have a memory like a steel trap .. unfortunately it's rusted shut!
posted on February 4, 2001 07:21:04 PM new
Auctiongallery~~the CEO of Bidbay has a daughter named Rachel...Maybe that's where the name on the feedback you found is..maybe not.
posted on February 4, 2001 08:10:14 PM new
OH MY GODROCKS! The plot thickens! and also how could bidbay have been a company in 1995 if it is only a year old. All keep saying "#2, not bad for a year old".
posted on February 4, 2001 08:25:11 PM new
I'm not a bidbay basher, because I don't have much of an opinion about the site. I registered there this past week, and currently have one auction running. All I am commenting on is the SEC paperwork that I read because I found it interesting.
The three things I found most interesting are:
1) They admit that their business plan does not have any reliable way to have revenue in the near future. We're not talking profit or loss (Amazon.com went public when they had huge losses, and they still have yet to be profitable) but we are talking about ANY cash flow - With a business plan without a reasonable way to have REVENUE, I question who would buy that stock? I think it might be okay to buy stock with a company that was not profitable, but this is NO REVENUE (I have to keep repeating that because I find it shocking a company would attempt to go public with NO cash flow)
2) Their current cash on hand seems dangerously low - They mentioned less than $150,000 as of August 2000, which was six months ago. With no revenue, that can't last that long.
3) Their target price of $10 per share is unrealistic to me. While eBay may be around $50, that is eBay. I'd be shocked to see the stock open at anywhere near $10 per share, with their business plan, it would seem overpriced at 10 cents a share.
posted on February 4, 2001 08:34:36 PM new
Now I know why they call this the basement. You people can't leave anything alone. I am glad Bidbay has one or two people over here sticking up for them. Auctiongallery2 if you don't like Bidbay why do you keep coming back ? You talk nice to George and he gives you the benefit of the doubt and you come over here as fast as you can to put a knife in his back. Why would George put so much money into a company, time and money don't just grow on trees to throw away. He has a plan and I am sure he will do very well with it. You Bidbay Bashers need to get a life and stick to talking about your auctions. You complain about the things that were said in the singles chat but you are no better yourselves.
JMHO
guess we'll never know if he was a bidbay employee or not. surely the boss over there would never do such a thing???????