-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, LTimMVvb9aL7Wzq97xZY/sVfV6XaulRw8LdOJv5Qt8udz0yMbfHq6iELueIStTra nfMG+VCrZj63tqfG4oXgaw== 0000950130-01-501676.txt : 20010516 0000950130-01-501676.hdr.sgml : 20010516 ACCESSION NUMBER: 0000950130-01-501676 CONFORMED SUBMISSION TYPE: 6-K/A PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20010514 FILED AS OF DATE: 20010515 FILER: COMPANY DATA: COMPANY CONFORMED NAME: BID COM INTERNATIONAL INC CENTRAL INDEX KEY: 0001079171 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-BUSINESS SERVICES, NEC [7389] IRS NUMBER: 000000000 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 6-K/A SEC ACT: SEC FILE NUMBER: 001-14835 FILM NUMBER: 1636649 BUSINESS ADDRESS: STREET 1: 6725 AIRPORT RD STE 201 STREET 2: MISSISSAUGA ONTARIO CITY: CANADA L4V 1V2 BUSINESS PHONE: 9056727469 MAIL ADDRESS: STREET 1: 6725 AIRPORT RD STE 201 STREET 2: MISSISSAUGA ONTARIO CITY: CANADA L4V 1V2 6-K/A 1 d6ka.txt FORM 6-K/A SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 6-K/A-1 Report of Foreign Issuer PURSUANT to Rule 13a-16 or 15d-16 of the Securities Exchange Act of 1934 Filing No. 2 for the Month of February, 2001 Bid.Com International Inc. -------------------------- (Exact name of Registrant) 6725 Airport Road, Suite 201, Mississauga ON, Canada L4V 1V2 ------------------------------------------------------------ (Address of principal executive offices) Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F Form 20-F X Form 40-F --- --- Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934. Yes No X --- --- - -------------------------------------------------------------------------------- - -------------------------------------------------------------------------------- BID.COM INTERNATIONAL INC. On February 22, 2001, Bid.Com International Inc. ("Bid.Com" or the "Company") filed a Report on Form 6-K, Filing No. 1 for the Month of February, in connection with the Company's announcement on February 21, 2001 of its financial results for the fourth quarter and fiscal year ended December 31, 2000. On May 11, 2001, the Company announced revisions to its year-end 2000 results. The changes, which are of a non-cash and non-operating nature, affect the revaluation of marketable securities and provisions for impairment of long-tern assets. As a result of the revisions, loss per basic shares increased from $0.34 to $0.38, while loss per share from operations remained unchanged at $0.48. Revised year-end 2000 financial results are attached to this Form 6-K/A-1 as Exhibit 1. All figures are in Canadian dollars. As of December 31, 2000, the exchange rate was Cdn $1.4995 to US$1.00. This Form 6-K may include comments that do not refer strictly to historical results or actions and may be deemed to be forward-looking within the meaning of the Safe Harbor provisions of the U.S. federal securities laws. These include, among others, statements about expectations of future revenues, cash flows, and cash requirements. Forward-looking statements are subject to risks and uncertainties that may cause Bid.Com's results to differ materially from expectations. These risks include Bid.Com's ability to further develop its business-to-business and licensing businesses, Bid.Com's ability to develop appropriate strategic alliances and successful development and implementation of technology, acceptance of Bid.Com's products and services, competitive factors, new products and technological changes, and other such risks as Bid.Com may identify and discuss from time to time, including those risks disclosed in Bid.Com's most recent Form 20-F filed with the Securities and Exchange Commission. Accordingly, there is no certainty that Bid.Com's plan will be achieved. The Company hereby incorporates by reference this Form 6-K/A-1 and Exhibit 1 into its Registration Statement on Form F-3, and into the prospectus contained therein (File No. 333-40888). Exhibit 1. Revised Year-End 2000 Financial Results SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. BID.COM INTERNATIONAL INC. Date: May 14, 2001 By: /s/ John Mackie ------------------------ Name: John Mackie Title: Vice-President, General Counsel and Corporate Secretary Bid.Com International Inc. Consolidated Statement of Operations (expressed in thousands of Canadian dollars, except per share amounts) (Canadian GAAP, Audited) - --------------------------------------------------------------------------------
Three Months Ended Twelve Months Ended December 31 December 31 ----------------------------------- --------------------------------- 2000 2000 1999 2000 2000 1999 translated translated into US$ at into US$ at Cdn$ 1.4995 Cdn$ 1.4995 for for convenience convenience Gross revenue $ 1,222 $ 815 $ 11,406 $ 12,497 $ 8,334 $ 31,001 Customer acquisition costs $ - - - (157) (105) - ---------------------------------------------------------------------- Net revenue 1,222 815 11,406 12,340 8,229 31,001 ---------------------------------------------------------------------- Direct expenses $ 296 $ 197 $ 10,810 $ 11,460 $ 7,642 $ 26,696 General and administrative $ 5,330 3,555 3,924 19,397 12,936 12,405 Advertising and promotion $ 104 69 5,189 5,040 3,361 11,870 Software development and technology expense $ 817 545 251 1,802 1,202 1,001 Depreciation and amortization $ 370 247 196 1,130 754 621 Interest income (85) (57) (236) (467) (311) (767) ---------------------------------------------------------------------- 6,832 4,556 20,134 38,362 25,584 51,826 ---------------------------------------------------------------------- Loss from operations $ (5,610) $ (3,741) $ (8,728) $(26,022) $(17,355) $(20,825) ====================================================================== Realized gains on disposals of marketable securities and stategic investments $ 249 $ 166 $ - $ 20,946 $ 13,969 $ - Unrealized losses on revaluation of marketable securities and provision for impairment of long term assets $(11,422) $ (7,617) $ - $(15,290) $(10,197) $ - ---------------------------------------------------------------------- $(11,173) $ (7,451) $ - $ 5,656 $ 3,772 $ - ---------------------------------------------------------------------- Net loss $(16,783) $(11,193) $ (8,728) $(20,366) $(13,583) $(20,825) ====================================================================== Loss per basic share $ (0.31) $ (0.20) $ (0.17) $ (0.38) $ (0.25) $ (0.42) ====================================================================== Weighted average common shares 54,603 54,603 50,682 53,688 53,688 49,218 ====================================================================== Loss per share from operations (0.10) (0.07) (0.17) (0.48) (0.32) (0.42) ======================================================================
Bid.Com International Inc. Consolidated Balance Sheet (expressed in thousands of Canadian dollars) (Canadian GAAP, Audited) - -------------------------------------------------------------------------------
December 31 December 31 December 31 --------------------------------------------- 2000 2000 1999 --------------------------------------------- (in US$) translated into US$ at Cdn$ 1.4995 for convenience Cash $ 7,363 $ 4,910 $ 5,019 Marketable securities 8,124 5,418 16,478 Other current assets 1,881 1,254 6,495 Other assets 3,433 2,289 8,751 --------------------------------------------- Total assets $ 20,801 $ 13,871 $ 36,743 ============================================= Current liabilities $ 2,086 $ 1,391 $ 5,504 Short term and long term deferred revenue 2,796 1,865 2,254 Long term debt 59 39 Total shareholders' equity 15,860 10,576 28,985 --------------------------------------------- Total liabilities and shareholders' equity $ 20,801 $ 13,871 $ 36,743 =============================================
-----END PRIVACY-ENHANCED MESSAGE-----