Power Sellers Unite

bbhc · Joined: 26 May 2005 Posts: 98

http://www.sec.gov/Archives/edgar/data/1081275/000114420405029345/0001144204-05-029345-index.htm

Quote: › docWrite("quote")The Company faces significant liquidity problems...

Based upon our current cash position we do not have sufficient funds to conduct our operations

The delayed 2nd quarter earnings finally released and to sum it up: BidVille is warning that unless a miracle occurs (i.e. it obtains additional financing) it may be forced to file for bankruptcy and liquidate the company.

lotsofgoodstuff · Joined: 02 Jun 2005 Posts: 282 Location: CA

I hope this is not a double post, could not find the news on the boards though. In case it is, I apologize :)

from the 2nd quarter report filed with the SEC on 9/20

http://www.sec.gov/Archives/edgar/data/1081275/000114420405029345/0001144204-05-029345-index.htm

The Company faces significant liquidity problems resultant from the failure of
Delmount to provide the funding pursuant to this Agreement. Based upon our
current cash position we do not have sufficient funds to conduct our operations
In the event that we do not obtain adequate financing to complete our Plan of Operations or if we do not adequately implement an alternative plan of
operations that enables us to conduct operations without having received
adequate financing, we may have to liquidate our business and undertake any or
all of the following actions:

o Sell or dispose of our assets, if any;
o Pay our liabilities in order of priority, if we have available cash
to pay such liabilities;
o If any cash remains after we satisfy amounts due to our creditors,
distribute any remaining cash to our shareholders in an amount equal
to the net market value of our net assets;
o File a Certificate of Dissolution with the State of Nevada to
dissolve our corporation and close our business;
o Make the appropriate filings with the Securities and Exchange
Commission so that we will no longer be required to file periodic
and other required reports with the Securities and Exchange
Commission, if, in fact, we are a reporting company at that time;
and
o Make the appropriate filings with the National Association of
Security Dealers to effect a delisting of our common stock, if, in
fact, our common stock is trading on the Over-the-Counter Bulletin
Board at that time.

Based upon our current assets, however, we will not have the ability to
distribute any cash to our shareholders. If we have any liabilities that we are
unable to satisfy and we qualify for protection under the U.S. Bankruptcy Code,
we may voluntarily file for reorganization under Chapter 11 or liquidation under
Chapter 7. Our creditors may also file a Chapter 7 or Chapter 11 bankruptcy
action against us. If our creditors or we file for Chapter 7 or Chapter 11
bankruptcy, our creditors will take priority over our shareholders. If we fail
to file for bankruptcy under Chapter 7 or Chapter 11 and we have creditors, such
creditors may institute proceedings against us seeking forfeiture of our assets,
if any.

Roundabout926 · Joined: 08 Apr 2005 Posts: 2832

There is a thread on this already but thank you for adding more information. I'm sure one of the Mods will just merge the two :), it's quite alright.

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

I wonder where all the bidville people will go. The alternative auction sites should scramble and get the ex bidville people on their site.

I wonder if there is a way to direct the bidville sellers to PSU so they can know about some of the other alternative auction sites.

bidup

I was surprised to see this info about bidville maybe closing, regarding where the bidville users will go is hard to predict my only theory is that auctions sites that are doing well with sales and have good user database will do well from this.

Other small auction sites like mine will have to wait 8) but if i get a few users from bidville I will be happy but you never know lets see what happens.

Not sure how to promote PSU to the bidville, maybe a user from bidville who uses PSU could open a topic in bidville forum about something and direct the link, to PSU topic lets say user talking about online fraud etc just a thought.

Regards
Andrew

Roundabout926 · Joined: 08 Apr 2005 Posts: 2832

Hmmm, it's hard to tell. Let's hope they haven't been discouraged by Bidville from using alternatives. If there is anyone here who is familiar with any of the sellers from Bidville send them here so they can see that there is a community and movement towards alternatives, and that there is hope for other sites. I think that would be the best way to get them here without spamming or anything. Friendly referrals may not got many sellers from Bidville, but it's the only way I can think of that wouldn't be considered spam.

work2hard4nothing · Joined: 05 Feb 2005 Posts: 135 Location: South Florida

Naturally, this is the talk of the forums at Bidville. I did direct one seller here who posted asking about other sites to try - I didn't start a new post, though, just responded to hers.

Everyone at BV is complaining about their auctions disappearing and 0 customer support for the past week or two. I've noticed that when my auctions close, instead of relisting as they're supposed to, they just vanish. This is what is happening to the other sellers, too. Are they trying to tell us something or is it just a glitch?

For me personally, I'm very sad to think Bidville may close. I hope not. Of all the sites I've listed on, it is the only one where I've had sales (only 3 total sales on all other sites combined - minus ePier where I did have sales up until April) and actually, they've been quite consistent sales not only to BV sellers. I've had good luck with my store there, too, and their bulk lister works better than any other.

I'll stay until the (bitter) end, but in the meantime, I'll be looking for other sites to try in addition to the ones I'm at now, in hopes of finding all the features that have made Bidville my preference.

Mike · Joined: 08 Jun 2005 Posts: 102

psunite wrote (View Post): › docWrite("quote")I wonder where all the bidville people will go. The alternative auction sites should scramble and get the ex bidville people on their site.

I wonder if there is a way to direct the bidville sellers to PSU so they can know about some of the other alternative auction sites.

You are right on - certainly all BidVille users should try alternative sites. We've placed a formal welcome to them on our home page :D

Thanks
Mike
DealMania

usiff · Joined: 01 Jul 2005 Posts: 198 Location: Corona, California

Hello Everyone,

There are a 1000 different auction sites out there. I know, I'm one of them.

This is who we are:

Company Name: Usellit4free.com, Inc.
Site first opened: June 1st, 2005
U can reach site with: USIFF.COM
U can call us: 866-USIFF-86 (866-874-386)
Email: reneholliday@usiff.com

Site Update:
Within the next 30 days, Usiff.com will be moving over to the Beyond Solutions auction system, which is very close to Bidville. At one time, Beyond Solutions developed Bidville's site.

Our motto is: U don't sell • U don't pay • It's that easy!

If you would like more information, please visit the site..

Take Care,

René Hollliday

abidders.com · Joined: 11 Sep 2005 Posts: 104

That is shocking news about Bidville! And it's too bad there is no real way of harnessing the users over at Bidville to get them to come over here! We are also one of the new alternatives, just opening a week ago and as nice as it would be to get some Bidville users over here I think we are still to young! However I think we hold a promissing future! We are using a quality auction system already well proven by some of the larger Alternative sites out there, and we have set aside a large sum of money for server, and software upgrades as our site grows!

If anyone is interested in taking a look at us or has any suggestions we can be reached via the contact us link on our home page!

Company Information

Parent Company: ONT Communications LLC
Sub: Multi-Comm Solutions
Web Site name: Abidders.com
URL: Abidders
Contact: admin@abidders.com

HopeChest · Joined: 08 Jun 2005 Posts: 134

Yahoo is now free i have had 120 sells this month, not bad ,No listing fee and no FVF, Iam also doing well at Overnight and Snappybids (which has the best craft section i have found if you buy or sell crafts)
I hope they all find a place that works for them, I'm sure there are a ton of sites that would be happy to get them.

viewit · Joined: 26 Jun 2005 Posts: 252

There back and going to be stronger.
http://www.bidville.com/community/messages/forums.asp?forum=100

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

Michael Palandro has resigned:

23-Sep-2005

Change in Directors or Principal Officers

ITEM 5.02 Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers
Effective September 21, 2005, Michael Palandro resigned his position as President, Chief Executive Officer and member of the Board of Directors of Bidville, Inc. (the "Registrant") to pursue other interests. Mr. Palandro did not list any disagreement with the Registrant's operations, policies or practices in his resignation.

source: http://biz.yahoo.com/e/050923/bvle.ob8-k.html

NEWS FLASH - READ CAREFULLY:

On May 9, 2005, the Company completed a Subscription Agreement with Delmount International Ltd. (see Note J to the attached Unaudited Financial Statements). The Company reasonably expected to receive at least Two Million Five Hundred Thousand Dollars ($2,500,000) in funding before August 29, 2005 from Delmount in accordance with the Closing Schedule in the Agreement. As of the date of this filing, no closings have been completed and the Company has received only $100,000 of the required Two Million Five Hundred Thousand Dollars ($2,500,000). The Company faces significant liquidity problems resultant from the failure of Delmount to provide the funding pursuant to this Agreement. Based upon our current cash position we do not have sufficient funds to conduct our operations.

In the event that we do not obtain adequate financing to complete our Plan of Operations or if we do not adequately implement an alternative plan of operations that enables us to conduct operations without having received adequate financing, we may have to liquidate our business and undertake any or all of the following actions:

o Sell or dispose of our assets, if any;
o Pay our liabilities in order of priority, if we have available cash to pay such liabilities;
o If any cash remains after we satisfy amounts due to our creditors, distribute any remaining cash to our shareholders in an amount equal to the net market value of our net assets;
o File a Certificate of Dissolution with the State of Nevada to dissolve our corporation and close our business;
o Make the appropriate filings with the Securities and Exchange Commission so that we will no longer be required to file periodic and other required reports with the Securities and Exchange Commission, if, in fact, we are a reporting company at that time; and
o Make the appropriate filings with the National Association of Security Dealers to effect a delisting of our common stock, if, in fact, our common stock is trading on the Over-the-Counter Bulletin Board at that time.

Based upon our current assets, however, we will not have the ability to distribute any cash to our shareholders. If we have any liabilities that we are unable to satisfy and we qualify for protection under the U.S. Bankruptcy Code, we may voluntarily file for reorganization under Chapter 11 or liquidation under Chapter 7. Our creditors may also file a Chapter 7 or Chapter 11 bankruptcy action against us. If our creditors or we file for Chapter 7 or Chapter 11 bankruptcy, our creditors will take priority over our shareholders. If we fail to file for bankruptcy under Chapter 7 or Chapter 11 and we have creditors, such creditors may institute proceedings against us seeking forfeiture of our assets, if any.

We do not know and cannot determine which, if any, of these actions we will be forced to take. If any of these foregoing events occur, you could lose your entire investment in our shares.

SOURCE: http://biz.yahoo.com/e/050920/bvlee.ob10qsb.html

Roundabout926 · Joined: 08 Apr 2005 Posts: 2832

viewit wrote (View Post): › docWrite("quote")There back and going to be stronger.
http://www.bidville.com/community/messages/forums.asp?forum=100nancybusinraleigh wrote (View Post): › docWrite("quote")
Michael Palandro has resigned:

23-Sep-2005

Change in Directors or Principal Officers

ITEM 5.02 Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers
Effective September 21, 2005, Michael Palandro resigned his position as President, Chief Executive Officer and member of the Board of Directors of Bidville, Inc. (the "Registrant") to pursue other interests. Mr. Palandro did not list any disagreement with the Registrant's operations, policies or practices in his resignation.

source: http://biz.yahoo.com/e/050923/bvle.ob8-k.html

NEWS FLASH - READ CAREFULLY:

On May 9, 2005, the Company completed a Subscription Agreement with Delmount International Ltd. (see Note J to the attached Unaudited Financial Statements). The Company reasonably expected to receive at least Two Million Five Hundred Thousand Dollars ($2,500,000) in funding before August 29, 2005 from Delmount in accordance with the Closing Schedule in the Agreement. As of the date of this filing, no closings have been completed and the Company has received only $100,000 of the required Two Million Five Hundred Thousand Dollars ($2,500,000). The Company faces significant liquidity problems resultant from the failure of Delmount to provide the funding pursuant to this Agreement. Based upon our current cash position we do not have sufficient funds to conduct our operations.

In the event that we do not obtain adequate financing to complete our Plan of Operations or if we do not adequately implement an alternative plan of operations that enables us to conduct operations without having received adequate financing, we may have to liquidate our business and undertake any or all of the following actions:

o Sell or dispose of our assets, if any;
o Pay our liabilities in order of priority, if we have available cash to pay such liabilities;
o If any cash remains after we satisfy amounts due to our creditors, distribute any remaining cash to our shareholders in an amount equal to the net market value of our net assets;
o File a Certificate of Dissolution with the State of Nevada to dissolve our corporation and close our business;
o Make the appropriate filings with the Securities and Exchange Commission so that we will no longer be required to file periodic and other required reports with the Securities and Exchange Commission, if, in fact, we are a reporting company at that time; and
o Make the appropriate filings with the National Association of Security Dealers to effect a delisting of our common stock, if, in fact, our common stock is trading on the Over-the-Counter Bulletin Board at that time.

Based upon our current assets, however, we will not have the ability to distribute any cash to our shareholders. If we have any liabilities that we are unable to satisfy and we qualify for protection under the U.S. Bankruptcy Code, we may voluntarily file for reorganization under Chapter 11 or liquidation under Chapter 7. Our creditors may also file a Chapter 7 or Chapter 11 bankruptcy action against us. If our creditors or we file for Chapter 7 or Chapter 11 bankruptcy, our creditors will take priority over our shareholders. If we fail to file for bankruptcy under Chapter 7 or Chapter 11 and we have creditors, such creditors may institute proceedings against us seeking forfeiture of our assets, if any.

We do not know and cannot determine which, if any, of these actions we will be forced to take. If any of these foregoing events occur, you could lose your entire investment in our shares.

SOURCE: http://biz.yahoo.com/e/050920/bvlee.ob10qsb.html

But which to believe :lol:

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

I think I would take the K-8 filing with the SEC as fact, not some stupid posting they put to satisfy the lackeys in the cafe thread who are obviously ignorant of the facts.

They do not seem to know Palandro resigned, nor do they seem to know that Chapter 11 is rounding the proverbial corner.

Last quarter ''earnings" were $299.00 I believe, or was that last years total earnings? I can't recall anymore. Either way, the door is about to close and the fools in the cafe (rah rah crowd) are clueless!