I think Mr Thakker (CEO) of uBid didn't want to make another miscue on sending out another update with an actual date of this merger. Raising money isn’t easy, all the broker dealers and bankers want their commissions and deals always can change right up to the last second. I’m assuming some of the brokers sold uBid on investors and then couldn’t deliver. This deal has been shopped poorly but finally will get done soon. The combined companies will be cash positive and will continue to acquire companies over the next year. The silver lining is uBid.com. The site needs to be updated asap, but a lot of the potential in revenue growth. uBid went public in 1999 and had yearly revenues over $500m. Not sure what the capital structure will look like after the merger, but at $.05 a share this could be a 20-30 bagger from here. Hopefully not by a reverse merger… ??
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