Editorials

More on the Internet Trend: Since lecturing about the Internet at the Bahamas conference, I learned the U.S. Dept. of Commerce issued a report on the web-based economy. It said: "Electronic commerce will be the engine for economic growth in the next century." It recently issued its second report in its series of three, titled "The Emerging Digital Economy, II." In it, it said "By 2006, almost half of the U.S. workforce will be employed by industries that are either producers or intensive users of information technology products & services."

Rosanne & I saw the handwriting on that wall two years ago. That's why we decided to create WallStreetCorner.com. We put it on line 4/99 after almost two years of investigation & development. It's also the reason we decided to make Conservative Speculator available on the Internet instead of using the post office. Here are some of the conveniences associated with accessing Conservative Speculator on the Internet:

1. You get it earlier than when we relied on the U.S. mail.
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Note to those of you who do not have computers: Only 12 of you requested hard copies because you do not have computers as yet, so we complied. From now on, however, we'll just send you copies of the pages we e-mail to our server -- they won't be on the ivory 11" x 17" sheets in two colors; they'll be in black ink on 12 sheets of 8-1/2 " x 11" white paper, but the information is there.

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If you have an investment in any company you feel has growth potential, please call the CEO. Tell him or her their company ought to be a participant on WallStreetCorner.

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effective things they can do for their shareholders. Please ask them to call us at 843-705-5591, fax us at 843-705-5592, or e-mail us at up415@aol.com.

Steve Forbes Luncheon: We still have room for a few others at the luncheon Rosanne & I are hosting for Steve Forbes on Hilton Head in late October 1999. The purpose is to give Forbes the opportunity to meet with CEOs of small public companies to discuss those matters that most concern small business. He says: "The heart and soul of the American economy is small business." Limited to 25 to 30, invitees will each personally contribute $1,000 to his campaign. If you are friendly with a CEO, president, or chairman of a small-cap company who would like to be invited, please call Rosanne or I at 843-705-5591, fax us at 843-705-5592, or e-mail us at up415@aol.com.

Bidhit.com, Inc.

Overview

Forrester Research, Cambridge, MA in 1998 said "The business to consumer auction market in the U.S. will soar from $1.4 billion in 1998 to $19 billion in 2003, & the business to business auction market will increase from $7.7 billion in 1998 to $52.6 billion in 2002." See my editorial in this issue for more recent comments on e-commerce by the U.S. Dept. of Commerce.

Business

BHIT is a real-time internet auction site. It went public 6/1/99, completing a $3 million financing 6/14/99. Until recently, it specialized only in online auctioning of brand-name consumer electronics from manufacturers to consumers.

It just added sports memorabilia. It has an agreement with Leisure Time Industries to add exclusive sports memorabilia to its product offering. The new auction category of authentic, signed memorabilia launched 7/15/99. Leisure Time has been in the sports & celebrity memorabilia industry since the mid-1980s. It guarantees the authenticity of its merchandise. It has an extensive library of thousands of exemplars & had their authenticity verified by such respected autograph resources as George Sanders, Mark Allen Baker, & Tuff Stuff. It also uses independent forensic authentication services, such as Authentic Autographs Unlimited, J. DiMaggio & Co., & Sports & Celebrity Autograph Authentication.

BHIT management expects to grow 225% in its second year. That would place it within the top online auction sites in North America. In its electronics lines, it offers bargain discounts on a rotating selection of consumer brands. It hosts two auctions a week, & expects to increase that to daily real time events.

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