lol, nice pump. not. Tell me if there's anyone in the jewelry pimp biz thats not a crook on some level? On second thought, don't, I wouldn't want you to lie.
The basher on the call was clearly a plant. He says he was long the shares. Probably bought 1 share so he could say that. I'm sure these guys are crooks, but that doesnt mean the basher was clean.
17:29 BIDZ Bidz.com Confernce Call Summary; responds to Citron (StockLemon) report (11.82 -4.74) -Update- During call, co says NILE and OSTK are not similar models and that BIDZ has had 15 consecutive qtrs of profitability and is investing cash back into the building... there are no cash flow issues.... expects to generate $19 mln in EBITDA in 2007.... inventories are increasing due to co's strategy to grow its business... Co says it has been historically underinventoried, the goal is to provide better customer service.... also moving into manufacturing its own items... co says it is false that he is being paid 30,000 shares per month -- this has been changed to 10,000 as of Dec 10, 2007. He has never sold any shares before the last 2 months. He has agreed to take a $1 salary to show his commitment... BIDZ has no comment on the criminal background of Saied Aframian and did not know this until yesterday. Co is looking into this relationship. Co says it has 300 suppliers. Leaving LA Jewelry would not have a material impact on operations.... Complaints are only 1 in 33,000 items sold... Better Business Bureau gave BIDZ that F rating years ago and co cannot understand why is has stayed there... AGI Labs was founded in 1987... Co says it does not want to be judged on speculation.... co reaffirms guidance provided a couple of weeks ago. Sees Q4 revs of $56-58 mln; for 2008 revenue $225-230 mln... Q&A: If we stop working with LA Jewelry, it would not be material impact. Co was asked about inventory methods. It is all valued at cost, does not add in any overhead... Inventory levels need to be where they are to achieve those sales predictions. From LA Jewelry, it is mostly avg to mid type of jewelry. Regarding the high end watches, co says it purchases them mostly from Alliance, a co in NY. Co does check on vendors, compares vs Jewelry Board industry watch... "If we stop working with LA Jewelry, it would not be material". When does co book revenue? co only books after it is shipped and after funds received... Co says it must invest in inventory, if bought back stock, they would have to hold for 6 months. Co expects Q1 to be strong, needs money to buy inventory...Co would consider looking at other labs besides AIG.., During Q&A, co welcomes people to come over and look at bidding records. As a new co, co says it is being scrutinized closely... Co says it has security for its software, recently invested $1 mln to protect from intrusions... Has LA Jewelry planted someone in your operation? Co says it doesn't matter, there is no shill bidding... Regarding the Maxent $11,000 tv sold mentioned in the article. Co says it dos not sell tvs, only by certified merchants, probably a mistake. However, analyst seems skeptical. Also asks who would buy a $500,000 ring sight unseen? each bidder was sent a full registration. Co says NILE has sold $1.5 mln rings.... Co says it does not plan to raise money in the near future.... Analysts seem incredulous that co is allowing merchants to sell tv's on their site with only a credit check and co gets no cut from the sale. An analyst then asked why 19 people bid over $500K for the canary ring? Analyst had three gemologist who say it's worth $150K tops. Analyst seems pretty skeptical, wonders why another bidder bought 15 Maxent tv's for well over $700 price he found on Google... stock at $9.33.
1) Trust no jeweler, ever 2) Trust no jeweler with a heavy foreign accent, ever 3) BIDZ needs a shill about now
BIDZ got TASRED really good! The mom and pop crowd now have a 50% tax loss for the end of this year. :eek: