0000950130-01-504557.txt : 20011009
0000950130-01-504557.hdr.sgml : 20011009
ACCESSION NUMBER: 0000950130-01-504557
CONFORMED SUBMISSION TYPE: 6-K
PUBLIC DOCUMENT COUNT: 2
CONFORMED PERIOD OF REPORT: 20011002
FILED AS OF DATE: 20011002
FILER:
COMPANY DATA:
COMPANY CONFORMED NAME: BID COM INTERNATIONAL INC
CENTRAL INDEX KEY: 0001079171
STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-BUSINESS SERVICES, NEC [7389]
FISCAL YEAR END: 1231
FILING VALUES:
FORM TYPE: 6-K
SEC ACT: 1934 Act
SEC FILE NUMBER: 001-14835
FILM NUMBER: 1750714
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
1
d6k.txt
FORM 6-K
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
Report of Foreign Issuer
PURSUANT to Rule 13a-16 or 15d-16 of the Securities Exchange Act of 1934
Filing No. 1 for the Month of October, 2001
Bid.Com International Inc.
--------------------------
(Exact name of Registrant)
6725 Airport Road, Suite 201, Mississauga ON, Canada L4V 1V2
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(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
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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
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BID.COM INTERNATIONAL INC.
On October 2, 2001, Bid.Com International Inc. ("Bid.Com" or the
"Company") announced that, as a result of the announcement by The Nasdaq Stock
Market of a moratorium on minimum bid and public float requirements for
continued listing, the Company has been granted temporary relief and will
maintain its listing status. The moratorium is expected to remain in place until
January 2, 2002. Previously, the Company reported that it was subject to
delisting pending the completion of an appeal process. Bid.Com's common stock
will continue to be listed under the symbol Nasdaq: BIDS.
As previously announced, pending shareholder approval, the Company
intends to acquire ADB Systemer, a software provider of enterprise asset
management solutions, and change its name to ADB Systems International. A
special meeting for shareholders to approve the acquisition, name change and
related corporate developments is slated for October 10 in Toronto. An offer has
been mailed to all shareholders of ADB Systemer.
Bid.Com also reported that it expects that its operating cash burn will
be approximately $2.5 million for the third quarter ended September 30, 2001, or
$500,000 better than previously expected, and that its operating loss for the
quarter will be approximately $2.5 million, which is $1 million less than the
previous quarter. The Company anticipates that revenue for the third quarter
ended September 30, 2001, will be approximately $600,000.
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, cash requirements and business operations. 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 sales and operations, 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 the text of this Form 6-K,
but not the Exhibit attached hereto, into its Registration Statement on Form
F-3, and into the prospectus contained therein (File No. 333-40888).
Exhibit 1. Press Release dated October 2, 2001.
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: October 2, 2001 By: /s/ John Mackie
---------------
Name: John Mackie
Title: Vice-President, General Counsel and
Corporate Secretary
EX-99
3
dex99.txt
PRESS RELEASE DATED OCTOBER 2, 2001
EXHIBIT 1
[LOGO]
Bid.Com International Inc.
6725 Airport Road, Suite 201
Mississauga, ON L4V 1V2
Tel: 905-672-7467 / Facsimile: 905-672-5705
Website: www.bid.com
(Nasdaq: BIDS, TSE: BII)
For Immediate Release
BID.COM TO MAINTAIN NASDAQ LISTING
UNDER MORATORIUM
Announces Third-Quarter Performance Expectations
TORONTO - October 2nd, 2001 - Bid.Com International Inc. (NASDAQ: BIDS, TSE:
BII), a global provider of dynamic pricing solutions, today announced that, as a
result of the announcement by the Nasdaq Stock Market of a moratorium on minimum
bid and public float requirements for continued listing, the Company has been
granted temporary relief and will maintain its listing status. The moratorium is
expected to remain in place until January 2, 2002. Previously, the Company
reported that it was subject to delisting pending the completion of an appeal
process. Bid.Com's common stock will continue to be listed under the symbol
Nasdaq: Bids.
"Although we continue to receive exposure and liquidity through the Toronto
Stock Exchange, maintaining our listing status on the Nasdaq Stock Market is an
important development, particularly as we refocus our efforts and, in effect,
re-launch our company," said Jeff Lymburner, President and CEO, Bid.Com
International Inc.
As previously announced, pending shareholder approval, the Company intends to
acquire ADB Systemer, a software provider of enterprise asset management
solutions, and change its name to ADB Systems International. A special meeting
for shareholders to approve the acquisition, name change and related corporate
developments is slated for October 10 in Toronto. An offer has been mailed to
all shareholders of ADB Systemer.
Bid.Com also reported that it expects that its operating cash burn will be
approximately $2.5 million for the third quarter ended September 30, 2001, or
$500,000 better than previously expected, and that its operating loss for the
quarter will be approximately $2.5 million, which is $1 million less than the
previous quarter. The Company anticipates that revenue for the third quarter
ended September 30, 2001, will be approximately $600,000.
"Like other technology companies, Bid.Com has been significantly impacted by the
global economic slowdown particularly in recent weeks as several customers have
deferred decisions until the fourth quarter," Mr. Lymburner said. "Nonetheless,
we have put in place a number of measures designed to reduce our operating
expenses and improve earnings per share performance. We are encouraged that
these measures have already resulted in a tangible improvement to our bottom
line."
Bid.Com to maintain Nasdaq listing/2
Mr. Lymburner concluded: "Although general economic indicators are still
unfavourable, we believe that we will see continued bottom-line improvement in
the fourth quarter and an improvement in revenues well in excess of 100 percent
given our existing sales pipeline and the pending acquisition of ADB Systemer."
About Bid.Com International Inc.:
---------------------------------
Founded in 1995, Bid.Com (NASDAQ: BIDS, TSE: BII) provides a comprehensive suite
of dynamic pricing solutions that allow organizations to buy and sell on-line
more effectively. Thanks to an award-winning and scaleable technology platform,
Bid.Com's multiple transaction methods and strategic sourcing applications can
be integrated within any business-to-business or consumer-based environment.
Current customers and partners include GE Capital, News International, Research
In Motion, CapGemini, ValueVision International Inc., Skerman Group and
PricewaterhouseCoopers.
Bid.Com has offices in Toronto (Ontario), Tampa (Florida), New York, London
(U.K.), and Dublin (Ireland).
This news release 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 ("the Company") results to differ
materially from expectations. These risks include the Company's ability to
further develop its business-to-business sales and operations, the Company's
ability to develop appropriate strategic alliances and successful development
and implementation of technology, acceptance of the Company's products and
services, competitive factors, new products and technological changes, and other
such risks as the Company may identify and discuss from time to time, including
those risks disclosed in the Company's Form 20-F filed with the Securities and
Exchange Commission. Accordingly, there is no certainty that the Company's plans
will be achieved.
To receive additional information on Bid.Com International Inc. please visit
www.bid.com
Contacts:
At Bid.Com:
-----------
Joe Racanelli, Director of Marketing
Tel: (905) 672-7467 ext. 273
Fax: (905) 672-9928
E-mail: jracanelli@bid.com
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