Power Sellers Unite

psunite · Joined: 27 Jan 2005 Posts: 6213 Location: Columbus OH

Online auction site Bidville said it has completed an agreement with Global Media Fund, LLC of Falls Church, Virginia, in support of a comprehensive marketing effort planned for launch over the next eighteen months. Global Media, through its NewsUSA media distribution entity, will act as part of Bidville's support team by helping to ensure that maximum branding and marketplace exposure is obtained through the company's planned marketing programs.link to article

This is ironic because I just heard a that the quarterly report has figures for bidville and it looks as if they are 47 million in debt. Also that Bidville will cease to exist in about a year at max, even with some secured financing. Has anyone else heard this and can confirm the rumour?

angelsolutions

Dunno about rumors, psunite. Don't have time to chase rumors about BV, OA, blujay or ebay, Brad Pitt & Angelina Jolie or anyone else. But here is a link to Bidville's SEC filing:

Bidville SEC Filing, Form: 10QSB Filing Date: 5/20/2005

This paragraph has been bandied about somewhat:

"The Company's ability to continue as a going concern is contingent upon its ability to attain profitable operations and secure financing. In addition, the Company's ability to continue as a going concern must be considered in light of the problems, expenses and complications frequently encountered by entrance into established markets and the competitive environment in which the Company operates."

But aren't the news articles about eBay's fall from sellers' grace more dramatic? LOL I'd love to read eBay's filing, but I don't have a shovel. :wink:

"Additionally, we invested $10,796 in new computer hardware and
other equipment to support our bidville.com website and support our
operations during the three months ended March 31, 2005. We also received $77,000 in proceeds from notes payable during the three months ended March 31, 2005, which was borrowed to provide operating capital. Bidville will also continue to direct efforts in developing a larger overseas presence both in Europe and Asia. Planning is ongoing to develop the Company's auction activities more predominantly during the third and fourth quarters of 2005 in the European market with the Asian market following in the first and second quarters of 2006. In addition, the Company is currently in the planning stages of launching a company owned and operated Auction Drop location during the second quarter of 2005 to provide support of current auction activities as well as to present a direct seller interaction for promoting and assisting in the listing and sale of merchandise on the Company's website.

The overall capital requirements of these future plans is unknown at this time and their implementation will be dependent upon the Company obtaining adequate capital."

Pleasant news. I'm not specifically trying to rah-rah Bidville. Although, I expect someone will be along shortly to say I am.

My basic point is....we can all copy/paste items from anywhere to support our points. We can ALL help in spreading a rumor, by passing it along.
:(

I respectfully request that readers seriously consider that there are good things & bad things about all sites...Bidville included. Some sites are not suited for some sellers. Some have enjoyed success there, some have had bad experiences. This will happen at most sites, if not all. I personally don't understand why Bidville is always held up to be such a bad place. I just don't get it. :?:

weary of Bidville bashing that costs ME $$,
sylvia
angelsolutions

2BOYSandTOYS · Joined: 14 Mar 2005 Posts: 10095 Location: Kansas

Am I the only one who can't get to Auctionbytes.com? Everytime there's been a redirect, I got a "timed out" message...

Just curious - I wanted to read this article and several others, but the last few weeks, I've been unsuccessful in connecting!!! :roll: :roll: :roll:

ThePerfectGift

I got in fine?????

here

Try This Link

angelsolutions

I got in ok too. :(

sylvia
angelsolutions

2BOYSandTOYS · Joined: 14 Mar 2005 Posts: 10095 Location: Kansas

Well - it must be me...I tried Netscape, FF, IE - and can't get there no matter what - I used to be able to - perhaps they blocked me!!!

goldreaper.rr · Joined: 25 Feb 2005 Posts: 1228

2BOYSandTOYS wrote (View Post): › docWrite("quote")Well - it must be me...I tried Netscape, FF, IE - and can't get there no matter what - I used to be able to - perhaps they blocked me!!!It may be your computer!

goldreaper.rr · Joined: 25 Feb 2005 Posts: 1228

I PM'd you TB&T did you get it about your Emotions!

nancybusinraleigh · Joined: 20 Feb 2005 Posts: 219 Location: North Carolina

The SEC filing for BVLE was full of contradictions. First they state they are 47 million in the hole, claim they will have to shut down if they don't get financ ing. Then go further into debt by securing a couple million in financing.

Seems to me they didn't make much hay out of the last investment made by others into their bottom line. Business didn't go up.

They did state in their filing that they increased revenue on the auction site over 100% over prior records - but that was totally driven by seller fees for stores. So that's not a sustainable trend in increased revenue.

Then of course they bought into the sponsorship of the Tampa Bay ball team again, which costs them quite a bit. Granted, they have their name show up when the camera's pan the field but for the money, well, I think it could be better spent.

For a couple months now they have been bugged with relist problems, the help board is full of people asking them to correct relist dates on auctions, as they are ending 20-30 days instead of 7-10 or whatever.

the use of stock options to pay people that have consulted etc created a net loss of over half a million in this last quarter as well. They issued more stock than they have net worth and it just added to the bottom line of debt.

Here's the link to the filing: yahoo BVLE

Rumors can be dispelled for all by reading the filing for themselves, and I strongly suggest those who are either listing on BVLE or are considering it take the time to learn about the lack of stability currently.