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Saturday, December 3, 2022

The Steady Rise of uBid Holdings, Inc. (OTCMKTS: UBID)

uBid Holdings, Inc. (OTCMKTS: UBID) has been on the move in recent days running out of sub penny land well over a penny on a significant increase in trading volume. The stock is beginning to attract a growing shareholder base.

UBID eclipse of the $0.01 comes after the Company reported it has reached an agreement with the SkyAuction team so that SkyAuction continues as a wholly-owned operating subsidiary under the uBid corporate structure. This supercedes previously reported information. SkyAuction generated revenues of $4,341,000 for the year-ended December 31, 2019, unaudited.

uBid Holdings, Inc. (OTCMKTS: UBID) bills itself as a diversified holding company whose strategic plan is to acquire interests in young businesses, and provide financing, advice and guidance to assist them in realizing their potential. It continues to identify and evaluate potential acquisitions that its Management believes will create shareholder value and a return on investment. For more information, visit: ubidholdings.com

This little Company has some serious people behind it; Kevin Harrington from Shark Tank is a board member. A serial entrepreneur, Mr. Harrington appeared as one of the original panelists on the ABC television program, “Shark Tank,” from 2009 to 2011.

UBID subsidiary SkyAuction is a leading B2C travel auction website founded in 1999 that allows customers to bid on and purchase a full array of travel products and services.  Product offers are presented in both reserve and no-reserve auction formats (many with a $1 minimum bid) that offer customers significantly discounted travel products without the obligation to meet a minimum price.  Auction winners ultimately pay only the amount that they perceive to be a good value for the product or service.  SkyAuction currently offers hundreds of hotels, resorts, cruises, discount certificates and many other travel related products as part of their daily auction offerings.  Founded by veterans of the travel industry, Skyauction.com has many long term relationships with top tourism providers worldwide.

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UBID

Ubid, Uwin, Usave, it is all about U! It isn’t just a clever tag line it spells out exactly how uBid feels about what it does. Whether it is computers, memorabilia or a trip to Orlando, uBid has a single-minded focus on saving you money by allowing you to determine how much you pay for any item. uBid makes the process easy to understand, engaging and fun. Its customers are its inspiration; they motivate uBid to seek out better, more valuable products, allowing uBid more opportunities to save money by determining what its customers want to pay for it. Its online marketplace provides the perfect outlet for manufacturers, retailers, distributors, and other suppliers to sell all types of products to a base of highly motivated consumers.

On February 18 UBID announced it has reached an agreement with the SkyAuction team so that SkyAuction continues as a wholly-owned operating subsidiary under the uBid corporate structure. This supercedes previously reported information. SkyAuction generated revenues of $4,341,000 for the year-ended December 31, 2019, unaudited.

uBid Chief Executive Officer Ketan Thakker commented, “We are pleased to report we have come to a mutually beneficial agreement with SkyAuction to keep it under the uBid corporate structure. In addition, our team is continuing to pursue Company plans for acquisition of complementary and accretive technology-based companies for the benefit of the uBid shareholders.”

The Company recently reported Q2, 2019 operating resuts: Revenue for the three months ended June 30, 2019 was $1.1 million, compared to $0 for the three months ended June 30, 2018. The increase in revenue is the direct result of the acquisition of SkyAuction.

Our second quarter results reflect the continued business of SkyAuction. Since closing the merger several months ago, we have integrated much of the back office and finance operations and are now focused on re-branding efforts, technology upgrades and cross-selling opportunities,” commented, uBid Chief Executive Officer Ketan Thakker. “We believe our enhancements over the next few months will accelerate our revenue growth. Since January 1, 2010, we have auctioned more than 1.3 million merchandise units, have amassed approximately 4 million user registrations through uBID.com and have recorded approximately 32 million visits to our uBID.com marketplace website. Traffic to our websites consisted of approximately 1,735,000 individual visits in 2018. Our strategy includes re-engaging with these users, registrants and individual visitors. We look forward to continuing to communicate our business progress.”

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Currently trading at a $5.2 million market valuation UBID filings are un auditd; according to the Company they have $390k in the treasury, $10 million in assets, $8.2 million in current liabilities and growing sales reporting $3,971,000 in revenues for the 9 months ended September 30, 2019. The stock has quickly attracted a fast growing shareholder base that continues to bid this one higher. We will be updating on UBID when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with UBID.

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Disclosure: we hold no position in UBID either long or short and we have not been compensated for this article.

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