Question
http://www.sec.gov/Archives/edgar/da...9345-index.htm
The investor (Delmont) who was supposed to pump $2.5 million into the company defaulted on the agreement after giving BV only $100K
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.
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Wow, it's strange because not even 3 days ago I was telling people at PSU to jump ship on Bidville because it was about to sink. I wonder where all these sellers will go (well, not really, I imagine they'll go back to eBay but they might just find PSU or other communities and try new auction sites).
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, I imagine they'll go back to eBay
1 million of the 1.25 million remaining listings are very cheap baseball/sports cards, and I think it is very likely that the majority of that block of 1 million listings will end up on Yahoo (which already has a strong sports card category with buyers), with some probably drifting off to iOffer and possibly ePier (which also has a lot of sports card listings). It wouldn't make sense to pay 25 cents to list a 10 cent card on eBay.
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into an eBay store if they did move them back over to eBay...
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I'm really suprised they have stayed aflaot as long as they did. I read their financial statements i guess it was last year and was thinking that dosent look good. Luckily i never listed anything there. I have bought some stuff though.
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Looks like they might be getting it together. Hope they make a go of it. I like Bidville listing pages. Wish all were that easy.
http://www.bidville.com/community/me...836189&forum=5
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Originally Posted by jcloud9
Looks like they might be getting it together. Hope they make a go of it. I like Bidville listing pages. Wish all were that easy.
http://www.bidville.com/community/me...836189&forum=5
It looks more like they're doing a repeat of the last days of Carnaby. I wouldn't call this statement encouraging news for a company that has no cash on hand and a negative net worth:
We have currently turned off all billing processes. No credit cards or checking accounts on file will be charged until the billing, FSF Refunds, and Customer Service issues have been corrected.
During this entire process, we will do our best to communicate as much information about our progress as we can. Please bear with us during this period of reorganization.
Nowhere in their post did BidVille give a reason why their customer service staff was AWOL for 3 weeks while customers complaints of disappearing items, problems with relisting items, problems with search went unanswered. They also didn't explain why they did nothing during the past month as the site was overrun by Nigerian scammers and customers' complaints of rampant fraud by bidders went unanswered.
...being a publicly traded company does not prevent anyone's customer service department from responding to customer complaints about scammers and listing problems.
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My cup is half full.
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Originally Posted by bargainbloodhound
It looks more like they're doing a repeat of the last days of Carnaby.
This was my thought too!
George
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Originally Posted by jcloud9
My cup is half full.
I don't know if this is about Pessimism or Optimism, it's about Realism (enough isms??? lol, sorry if it sounds pretentious). I guess Bidville is a really easy site to list on, because it has quite the following. That being said, looking I think people have different takes on the situation due more to personal bias than whether or not the cup is half empy or half full (maybe it's just too small).