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Author Topic: BLYC
cndboy
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Great time to buy more ....... @.029
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JoeMillion
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BLYC Analysis

Overall
Short: Bullish
Intermediate: Bullish
Long Analysis : Very Bullish
http://www.stockta.com/cgi-bin/analysis.pl?symb=BLYC&num1=19&cobrand=&mode=stock

Go BLYC!

- Joe -


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VNGNTN1
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D&P
Don't know just remember reading it. Think I might even have replied this was an excellent developement????
VAN

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ANEWBIE
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Thanks Joe! for posting the site...new to stocks and need all the help I can get!
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JoeMillion
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Your're welcome anewbie.

- Joe -


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cndboy
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This company has so much potential it's ridiculous.... It's Ebay for business to business. I wonder if anyone knows what the transaction fee's R?
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dog-n-pony-show
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Thanks JM= LOOKIN GOOD NOW...maybe you or someone who knows the charts can continue to review and share goin forward....I believe it will be better next week...better week of 20th...and REALLY great week goin into March and forward!

More SEC rules and regs comin on Naked Short total stoppage scenarios...but major acts (the CAnadian Criminal Cons= who could naked Short without even borrowing the shares)should stop by the 20th! Its slowed already...but it aint stopped yet!


quote:
Originally posted by JoeMillion:
BLYC Analysis

Overall
Short: Bullish
Intermediate: Bullish
Long Analysis : Very Bullish
http://www.stockta.com/cgi-bin/analysis.pl?symb=BLYC&num1=19&cobrand=&mode=stock

Go BLYC!

- Joe -



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Bo14172
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Dog-n...

The funamentals on Bentley will soon begin to drive the share price rather than the technicals, which will allow shareholders to reap this reflection.

Like you, I yield to others expertise when it comes to charting interpretation for short term guidance.
With an issue like BLYC, a clear path has been laid. This snowball is beginning it's roll down an endless mountain. :)

Bo

[This message has been edited by Bo14172 (edited February 06, 2004).]


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dog-n-pony-show
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CB- they, as in most people, probably dont even know what the Transaction Fees are for and how much they can be in the Barter Industry. So if you wanna post some DD that explains it= its All good!

They probably dont understand that BLYC could, should and likely would become the First Major and Foremost Barter Financial Transaction Merchant Acquirer and Processor for the Global Barter transaction Industry!

It may also likely be the Premiere positioned power to spearhead the ONLY viable and valued Global Barter Transaction Network for the Barter Industry...and the Ultimate PRIVATE Currency for Global Barter Exchange transactions= BarterDollars.com.

If "they" knew or understood any of this...we would be much much higher in PPS and volumes already...so as "they" do realize it...WE ALL will be much much more rewarded by seeing it first!

B-to-B, I believe is much more adaptable and ameniable to the efficient (liquid and ubiquitous and user friendly) Barter scenario than to online auctions industry of E-Bay and others. Barter is bigger and better for B-to-B for general needs and inventory asset recovery ratios at RETAIL valuations. Anyone can chime in or contribute on ANY or ALL this..its ALL GOOD!

GO BLYC!

quote:
Originally posted by cndboy:
This company has so much potential it's ridiculous.... It's Ebay for business to business. I wonder if anyone knows what the transaction fee's R?


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dog-n-pony-show
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Bo-

I agree wholeheartedly on the Fundamentals MoMentum driver as the Strongest and Longest mover upper of the PPS...Snowball or LOCOMOTIVE scenario are appropriate visuals...Unstoppable and Exponential Growth in Power and Effect!

But I like seeing the Tech Charts...and those that follow em...in 0n the BLYC gravy train and campaign train too! "Choo Choo..."...(dont know the sound of a Super Snowball? Swish/Swoosh...and Squish? Or jst a loud Rumble= like an Avalanche maybe!?!)


DOG (Fundamentally I am a Dog...but Technically a Pony!)


quote:
Originally posted by Bo14172:
Dog-n...

The funamentals on Bentley will soon begin to drive the share price rather than the technicals, which will allow shareholders to reap this reflection.

Like you, I yield to others expertise when it comes to charting interpretation for short term guidance.
With an issue like BLYC, a clear path has been laid. This snowball is beginning it's roll down an endless mountain.

Bo

[This message has been edited by Bo14172 (edited February 06, 2004).]



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VNGNTN1
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BO
I"d be intrested where you are finding the fundamentals?
VAN

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dog-n-pony-show
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Short Sellers Beware: The End Is Near
February 4, 2004


Sweeping changes are taking place in the world of short selling. Last month the Securities and Exchange Commission (SEC) approved amendments to NASD Rule 3370 that expanded the scope of the affirmative determination requirement to include orders received from non-member brokers and dealers. What this means is that naked shorting may cease to exist on the scale that it currently enjoys. All of this may seem vague and unimportant for most of our readers. You might be thinking what's the big deal because shorting is not something that pertains to your trading or investing strategies. After today's edition we think you will change your mind.

What Is Short Selling

Let's begin with the very basics. Short selling is the selling of a stock that the seller doesn't own but promises to be delivered. A short seller typically borrows stock from a broker to sell it into the market, betting that the share price will fall so that the shorter can buy the stock back at a lower price. Selling short is the opposite of going long.

When you short sell a stock, your broker will lend it to you. The stock will come from the brokerage's own inventory, from another one of the firm's customers, or from another brokerage firm. The shares are sold and the proceeds are credited to your account. Sooner or later you must "close" the short position by buying back the same number of shares (called "covering") and returning them to your broker. If the price drops, you can buy back the stock at the lower price and make a profit on the difference. If the price of the stock rises, you have to buy it back at the higher price, and you lose money.

Most of the time, you can hold a short for as long as you want. However, you can be forced to cover if the lender wants back the stock you borrowed. Brokerages can't sell what they don't have, and so yours will either have to come up with new shares to borrow, or you'll have to cover. This is known as being "called away." It doesn't happen often, but is possible if many investors are selling a particular security short.

Since you don't own the stock (you borrowed and then sold it), you must pay the lender of the stock any dividends or rights declared during the course of the loan. If the stock splits during the course of your short, you'll owe twice the number of shares at half the price.

Since you are being loaned the stock, you are buying on margin. In fact, you have to open a margin account to short stocks. Your broker will charge you interest on the loan and you are subject to rules of margin trading. This all sounds easy enough but keep in mind that most U.S. brokerage firms will only allow shorting of stocks that are above $5.00 per share because most brokerages will not allow margin on any stocks under this amount. Thus, it is widely assumed by retail investors that stocks under $5.00 and bulletin board stocks are not shortable. This is true for most people but there is a large loophole in the system.

The Loophole

Until the recent amendment, non-NASD members, like specialists, option markets and foreign brokers, weren't covered under the affirmative determination rule. This rule requires that no member or person associated with a member shall effect a "short" sale order for any customer in any security unless the member or person associated with a member makes an affirmative determination that the member will receive delivery of the security from the customer or that the member can borrow the security on behalf of the customer by settlement date. Non-NASD members didn't have to represent to the NASD broker through which they conducted a short sale order that they would be able to deliver the stock by settlement date.

It's often impossible to borrow the shares of companies trading on the OTCBB so investors and hedge funds looking to take negative bets on these stocks have traditionally been trading through Canada where it's not required to borrow stock before selling it short. The practice is known as naked shorting.

Naked shorting has caused some serious problems for companies trading on the bulletin board. It is a slippery slope that may eventually destroy a company's ability to raise capital. Take a scenario where a scrupulous hedge fund or short selling group decides to naked short a bulletin board company into oblivion. Since no shares have to be delivered, shorts may "hit the bid" until the stock hits zero. Perception is reality so shareholders will see the decline and naturally think that something is wrong and liquidate their positions causing a downward spiral. The shorted company will then be unable to raise any capital because their stock is worthless due to the shorts and not because of fundamentals.

Have you ever owned a bulletin board company or any stock under $5.00? Then you may have experienced shares of your company beaten down by shorts and not even know it.

Conclusion

We applaud regulators for amending the affirmative determination rule. The new NASD rule makes it the responsibility of U.S. brokers trading with non-members to make sure that their counterparts will be able to settle a transaction before completing a short sale. This should dramatically reduce the "naked shorting" that is occurring in the sub $5.00 and bulletin board world.

The SmallCap MarketWatch is not anti short selling across the board. On the contrary, we think shorting is healthy for the market to hold valuations in check when optimism gets ahead of fundamentals. However, it is not acceptable when shorts possess a mechanism to endlessly drive a stock into the ground that creates an imbalance that can hurt shareholders


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Bo14172
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Hi VN,

Fundamental analysis encompases events of the life of the company and it's activities, which also include financial listings.

I refer you to their site Bentleycompanies.com. Review the last 6-7 months of new releases and see what you surmise.

Their affiliation with Joe Crump and the Crump Barter Network, will make Bentley (dang I hate using catchphrases) the "Ebay of global barter networks". Their vbarter site has been up and running, very successfully (as has been reported with their very positive first month trade and sales figures). If you read about the direction the company plans to take in corporate & governmental avenues of trade, they truly have an exciting and likely very profitable future.

You may conclude different.
I like em. Bo

[This message has been edited by Bo14172 (edited February 06, 2004).]


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JoeMillion
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Looking at the blyc chart we can see that blyc is building a base before the big move. Low volume at the bid telling us the sellers are gone. Increasing my holdings on every dip.

Go BLYC!

- Joe


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VNGNTN1
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BO
A News release is not a fundamental factor in my understanding. The only release I saw there was 10/14/2003"Annual Report" Which only talked about 2002 business & How restructuring was progressing. The only two meaningful item(but old) was Income 143k. I am holding on this one.THANKS for the site. Get back if I missed something.
VAN

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JoeMillion
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Smart buying coming in now. - Joe -
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Bo14172
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Van,

Without question a news release in itself is not a fundamental factor. In my post, I listed some of what this incorporates. Companies in the Dow as well as companies such as QBID move a little or dramatically in their stock price based on fundamental forces. The market assesses how these will affect the earnings and valuation of the company. Such forces include company activities, aquisitions, capital structure happens, etc...the list is endless and specific for each company. And certainly included are quarter and annual reports.
Amazon's stock price ran off the charts for a period of years before it even made a dime in net income. Market interpretation of forces beyond the bottom line is the most fascinating thing to me in investing.
As Bentley's results (financials) reflect their promise, current shareholders will be rewarded. Bo

[This message has been edited by Bo14172 (edited February 06, 2004).]


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Bo14172
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My belief based on their first month's activity, tell me their reported financials may soon reflect their promise and what is to come. Be well Bo
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dog-n-pony-show
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I am with ya Bo Bro!

"fundamentals"

"Any factor that could be considered important to the understanding of a particular business. Fundamentals are usually considered outside the context of the market as a whole. Some examples of fundamentals include a company's growth, revenues, earnings, management, and capital structure. The use of fundamentals as an investment strategy is called fundamental analysis."


As per InvestorrWords.com


It would also include other DD including the overall Industry and Global Markets and Economics TRENDS and growth/stats etc etc... in which positioned and how a company is positioned there..."Barter is Smarter"...and BLYC is Sharper!

Fundamentals are essentially Common-sense aspects/factors to be completley covered and considered as a package with intel Pro/Con comparisons and perception!

Dog


quote:
Originally posted by Bo14172:
Van,

Without question a news release is not a fundamental factor. In my post, I listed some of what this incorporates. Companies in the Dow as well as companies such as QBID move a little or dramatically in their stock price based on fundamental forces. The market assesses how these will affect the earnings and valuation of the company. Such forces include company activities, aquisitions, capital structure happens, etc...the list is endless and specific for each company. And certainly included are quarter and annual reports.
Amazon's stock price ran off the charts for a period of years before it even made a dime in net income. Market interpretation of forces beyond the bottom line is the most fascinating thing to me in investing.
As Bentley's results (financials) reflect their promise, current shareholders will be rewarded. Bo



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Bo14172
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Thanks for the good word Dog-n...lol

I knew my days as a finance major at PSU weren't showing too much rust.

I was there when Joe Paterno was the football coach.

If someone wants to hide their age in a range of 40 years, the above statement is about the safest you can make.

Bo (PSU '84)


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JoeMillion
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Next week should be interesting with the end of shorters day getting closer.

- Joe -


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PSU90
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Hey Bo! PSU '90 here. Covers me too!

quote:
Originally posted by Bo14172:
Thanks for the good word Dog-n...lol

I knew my days as a finance major at PSU weren't showing too much rust.

I was there when Joe Paterno was the football coach.

If someone wants to hide their age in a range of 40 years, the above statement is about the safest you can make.

Bo (PSU '84)



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sammad
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Bentley Commerce Corporation (OTC:BB BLYC)

BENTLEY COMMERCE CORPORATION

BUSINESS STRATEGY

Overviewv

Bentley is a business-to-business Internet e-commerce company that seeks to establish a new marketplace and distribution channel for worldwide barter and trade. Bentley will become an online market maker for the barter industry -- a neutral intermediary that brings together fragmented multiple groups of buyers and sellers online. In order to accomplish this, Bentley will create a trade clearinghouse for barter companies, their members and clients, through the development of a seamlessly integrated family of online barter services. It envisions that most barter transactions can be handled in real time, using proprietary software that Bentley is developing or acquiring. The outcome will be to transform and redefine the commercial barter industry as it exists today by enabling barter exchanges, and their members and clients, to trade interactively with each other online.

CURRENT STATUS

Retail Barter -- Crump Barter Network

On August 29, 2003, Bentley entered into an Agreement to purchase Crump Barter Systems, Inc., with a growing membership of 180 local barter exchanges and about 50,000 members that trade through them. Crump represents approximately 30 percent of the barter exchanges in the USA and 50 percent of those in Canada. It was founded in 1998 to bring efficiencies to the barter industry by providing a clearinghouse through which members of different barter exchanges worldwide can make available each other's inventory and services and trade seamlessly with one another.

On November 12, Bentley signed an exclusive license for the Crump Barter Systems, Inc. business methods, rather than acquire it through an asset purchase as originally planned. This enabled Bentley to expedite setting up a wholly owned barter and trade network subsidiary, managed by Joe Crump.

Corporate Barter -- Strategic Alliance with Intertrade Capital Group

On September 11, 2003, Bentley entered the corporate barter business by launching a corporate trade division through a strategic alliance with Intertrade Capital Group, Ltd., an international trade finance and corporate barter company.

The agreement in principal will join Bentley’s Crump Barter Network of 180 barter exchanges that serve about 50,000 small to midsize businesses, with Intertrade’s team of international trade finance and corporate barter specialists. Bentley’s new division will enable the individual exchanges within the Crump Barter Network to initiate corporate trade and to obtain the resources necessary to successfully complete transactions. Bentley will also execute corporate trades that originate from sources outside of the Crump Network.

Enterprise Exchanges – Custom Bentley Exchanges Developed for Specific Markets

On November 6, 2003, Bentley announced plans to provide qualified non-profit organizations with their own custom branded online trade exchange that will enable them to more efficiently acquire and convert donated gifts in kind to other products and services more useful to their organizations. Through the non-profit organization’s custom exchanges, they will be able to sell donated gifts for barter dollars to a potential audience of 50,000 businesses that trade through the 180 exchanges of Bentley’s Crump Barter Network. Individuals and businesses that want to make a contribution to a non-profit willbe able to go online and list products and services they wish to donate. When the donated item is purchased, the proceeds from the sale will go directly to the non-profit organization. Bentley will earn a percentage of the trade for providing the donation management system and facilitating the transaction.

On November 20, 2003, Bentley began an online trade marketplace to enable hotels, resorts, bed & breakfasts, cruise lines, restaurants and others in the hospitality industry, to purchase furniture, fixtures, equipment and supplies at below standard wholesale pricing by partially paying for purchases with excess room night and food and beverage capacity. The Bentley Hospitality Exchange will enable suppliers to open up new markets and approach customers that they were previously unable to do business with, by offering reduced pricing. Hospitality companies can pay for a portion of much needed tangible products and services for their properties with perishable rooms that would have gone empty or food that might otherwise have not been served. Bentley’s member exchanges benefit from having more products and services available for trade, as well as generating additional fees from creating increased trading. Additionally, Bentley will earn fees for managing the marketplace.

IT Backbone: Exclusive North American License to VirtualBarter Software with capacity to Build and Manage a Worldwide Network of Multi-Lingual, Multi-Currency Barter and Trade Exchanges

On December 8, 2004, Bentley will unveil VirtualBarter 3.0, its comprehensive suite of trade exchange management software that enables an Internet based worldwide network of barter and trade exchanges. A preview can be seen at www.bentley.vbarter.com. By releasing the fully functional version of its software, it exceeded the company’s previously announced expectations of just having a beta version prior to year’s end. This software will enable Bentley to build its online collaborative network of independent exchanges, which it believes will be far superior and larger than any current exchange network.

Bentley licensed VirtualBarter software exclusively for North America, which is the cornerstone for the worldwide collaborative trade alliance. This software is also intended to eliminate barriers to trade by providing new multi-lingual, multi-currency trading for barter and trade exchanges, and their members worldwide. Bentley has already developed a strategic relationship with a new emerging trade exchange network in the Middle East that will be using this software.

VirtualBarter pioneered online global trading with its first ecommerce enabled trading software in January 2000. The software was significantly enhanced with the release of version 2.0 in July 2002. Version 3.0, Bentley’s platform, is now ready for member and exchange participation within Bentley’s Crump Barter Network of 180 barter exchanges that serve about 50,000 small to midsize businesses. With this online suite of barter and trade management software, Bentley hopes to ultimately redefine the barter industry as it exists today by becoming a market maker and trade currency clearinghouse for all barter transactions, while collecting a small fee on each transaction.

Exchanges will begin to use the software December 8. They can brand their site, customize the content, and add their member companies to it. Member companies who barter using the software can now build their catalogs by entering the products and services they have to trade. As an incentive to get exchanges online as quickly as possible, so that their members can participate in online trading, Bentley is waving the $2,500.00 exchange setup fee for “Charter Exchange Members” for the next 90 days.

Among the many special features VirtualBarter offers, is that each exchange can have their own distinct brand and content, with their own name and logo on all screen views. Members who trade through a participating exchange will be able to buy and sell 24/7 in a branded online ecommerce global trade marketplace. Just one click will permit them to offer products and services to other trade exchange members worldwide. One click will also enable them to find products and services from trade exchange members locally or internationally, while another click will enable them to purchase it in an eCommerce enabled shopping cart.

Exchanges will be able to manage their entire exchange and all members from one multi-dimensional application. The software provides exchanges with over 20 real time management reports, including a ready to print member directory. Exchanges can monitor transactions, trade and cash fees and broker productivity from one screen, as well as cash collections and cash receipts. Real time transaction fee processing at the time of transaction improves cash flow for exchanges, as it reduces collection issues.

VirtualBarter will give the companies who are members of trade exchanges the ability to manage their own accounts. They will be able to post transactions, view real time online statements, view detailed transaction history, search local and global member directories, and manage their inventory offered for trade with a fully integrated item and inventory control management system.

Marketing activities are enhanced with a full-featured contact manager that includes call scheduling, call reminders and notes with complete reporting. Email marketing will give an exchange and its brokers the ability to easily create instant graphic content and to email it to one member, several members or all of the members in their exchange. Segmentation will allow emails to be sent to custom defined groups, such as all members that have purchased a particular category of item during the year


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mizzou7
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I wonder if we will hear some news this week? Bentley Commerce web-site appears to be under some updates/construction... Let keep our fingers crossed!
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suprabiz4
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Here's a little info about the success of Gordon Lee, the CEO of Bentley.

In 1999, he founded Startek.com that enable wireless and high speed internet access. It trades on the NYSE, symbol SRT, for $40 a share.
Below is a list of awards for Startek acoording to Starteks annual report from their website startek.com

Forbes Magazine Best Small Companies for 2002.
Published October 10, 2002
• Business Week Magazine
100 Best Small Companies.
Published May 29, 2000
• Fortune Magazine 100 Fastest-Growing Companies.
Published September 4, 2000
• Inc. Magazine Hall of Fame.
Presented May 21, 1994 (awarded to companies
listed in Inc. 500 Fastest Growing Companies for
5 consecutive years)
• Customer Interaction Solutions Magazine
Top 50 Teleservices Agencies.
Published May 2003
• Denver Business Journal
Colorado's Top 100 Public Companies.
Published October 20, 2000
• Deloitte & Touche 2000, 2001, 2002 Colorado
Technology Fast 50.
• Laramie Area Chamber of Commerce
Corporate Community Service Award.
Presented January 22, 2003
• Cornwall Chamber of Commerce
2002 Business of the Year.
Presented February 22, 2003
• Texas Workforce
Distinguished Employers of theYear 2000.
Presented September 11, 2000
• Denver Post Top 100 Colorado Companies.
Published August 13, 2000


Imagine when Gordon Lee brings BLYC to similar levels of achievement. We'll see a nice high PPS for sure.


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Bo14172
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Just back from a relaxing weekend here.
PSU 90 - Let's Go State!

Supra...BLYC is such a solid play. Your DD is right on the mark. Those manning the ship in this company are very sharp.

Expect big things. Bo


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JoeMillion
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I agree we have a winner here. When people find this stock, its going to get crazy here. Its going to be an interesting weeks going foward.

Go Blyc!

- Joe -


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mizzou7
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What's going on with this stock? Billions of business dollars, don't equal pennies...
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suprabiz4
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BLYC is due for a solid uptrend. It's support level seems to be about .03(block of 140,000 went through this morning as a buy) I'm sure more good numbers will come out in a press release this month to push this stock further. Obviously the potential of this stock is huge. If Gordon Lee pushes his "eBay of barter" business plan/goal, I think this stock will generate HUGE interest, and just maybe become the next GZFX?!?! I know this stock has a lot of room to go up, so I'm just sitting on my shares, waitin for the inevitable ride. I wouldn't be surprised if this hit $.50 to a $1.00 within a year. Barter is a multi-billion dollar industry, Gordon plans to reap the monetary benefits, and so do I!
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dog-n-pony-show
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Press Release Source: Bentley Commerce Corporation


Bentley Commerce's Revolutionary Barter Software Dramatically Increases Membership and Revenue Potential
Tuesday February 17, 6:00 am ET


LOS ANGELES--(BUSINESS WIRE)--Feb. 17, 2004--Bentley Commerce Corporation's (OTCBB:BLYC - News) revolutionary software launch results in rapid rise in Bentley online membership base, expected to significantly expand revenue potential. Independent barter groups begin exodus from former software providers to join the Bentley Commerce team.
Bentley software, VirtualBarter 3.0, enables Bentley to create and manage a worldwide online barter exchange. Independent member exchanges operate using their own distinct brand and content, while buying and selling on the Bentley worldwide network.

Bentley's creation integrates a worldwide network of trade exchanges where members will manage, merchandise, and market their goods and services.

About VirtualBarter 3.0:

Virtual Barter 3.0, Internet based software, enables exchanges and their members to manage, merchandise and market their products and services in an online barter marketplace to an integrated worldwide network of trade exchanges. Among its many special features, VirtualBarter 3.0 allows each independent exchange to have their own distinct brand and content, with their own name and logo on all screen views. Members who trade through a participating exchange can buy and sell 24/7 in a branded online ecommerce global trade marketplace. Just one click will permit them to offer products and services to other trade exchange members worldwide. One click will also enable them to find products and services from trade exchange members locally or internationally, while another click will allow them to purchase it using VirtualBarter's eCommerce enabled shopping cart.

About Bentley Commerce Corporation:

Bentley Commerce Corp. is a business-to-business, Internet e-commerce company that seeks to establish a new marketplace and distribution channel for worldwide barter and trade. Through the development of a seamlessly integrated family of online barter services, it envisions that most barter transactions can be handled in real time, with its proprietary VirtualBarter software. Bentley intends to serve as a clearinghouse for barter trades for fortune 500 trading partners, scores of existing retail barter exchanges that serve companies of all sizes, corporate barter companies that serve large multinational corporations, trade associations and their member companies, as well as media and travel agencies.

Forward-Looking Statements:

With the exception of historical information, this news release and accompanying information may include forward-looking statements that involve a number of risks and uncertainties. Actual results could differ materially from those anticipated as a result of various risks. There are numerous factors that could contribute to such differences, therefore such projected events and anticipated results are not warranties or guaranties that such events will occur or that the Company will achieve such results. For more information about this corporation and risks involved in the investment of their publicly traded shares, please see the company's website(s), and/or documents filed with the SEC, which are easily accessible in the EDGAR database system.

--------------------------------------------------------------------------------
Contact:
Bentley Commerce Corporation
Bruce Kamm, 646-825-9001
bkamm@bentleycommerce.com
www.bentleycommerce.com

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Source: Bentley Commerce Corporation


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dog-n-pony-show
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VANCOUVER -- Canadian stockbrokers who engage in a controversial but lucrative practice known as "naked short selling" are about to face new restrictions that appear to be aimed at closing a loophole in U.S. securities industry regulations.

When the restrictions take effect on Feb. 20, brokers in Canada will be prevented from arranging to short U.S. securities on behalf of clients or from inventory, unless they are able to make an affirmative determination that the stock can be borrowed and delivered to the customer on the settlement date.

It means Canadian brokers can still short U.S. stocks, a practice that involves the sale of borrowed shares by people who plan to replace the stock by buying it back at a lower price, allowing them to pocket the difference.

The affirmative determination requirements for short sale orders are part of amendments to the National Association of Securities Dealers (NASD) Rule 3370.

One Canadian brokerage official said he believes Canada is merely an incidental target of rules, which he said are aimed primarily at U.S. market makers who trade on Nasdaq's lightly regulated Over the Counter Bulletin Board.

"I don't believe it is to plug a Canadian hole, solely," said Warren Funt, vice-president of member regulation at the Investment Dealers Association of Canada. "But it will have that effect."

Until this week, Rule 3370 did not apply to brokers who are not members of the NASD. As a result, brokers at Canadian firms, such as Pacific International Securities Inc., Global Securities Inc., Union Securities Ltd. and Raymond James Ltd., were able to generate revenue by shorting U.S. securities on behalf of clients or from inventory, on a non-borrowed basis.

But starting Friday, traders in the United States will be required to ask Canadian dealers if they have borrowed the stock in instances where they are attempting to short a U.S. stock on behalf of a client. "If the answer is no, the U.S. dealer will not accept the trade," said Doug Garrod, president of Global Securities.

Industry officials say the impact on revenue as a result of the affirmative determination rule will not be known until the IDA releases its trading review for the first quarter of 2004.

A compliance executive at one brokerage firm said naked short selling has been a low-profile, high-money earner for brokers, particularly in Vancouver's Howe Street district, and some have already quit in advance of the rule taking effect. (The term "naked" shorting applies to an unlimited form of short selling that can cause wild gyrations in the price of stocks that are usually traded over the counter in the United States.)

"It has been a huge revenue-making area for the brokers that are doing it because you can charge higher commissions when you are trading in the U.S.," the executive said. "The fact that U.S. regulators have taken this action shows that this is a huge problem," the executive added.

For instance, Global Securities and Union Securities are named in a lawsuit launched in British Columbia Supreme Court in 2002 by U.S. biotech firm GeneMax Corp., which became a magnet for short sellers late that year.

In court documents, GeneMax accuses the brokerage firms of abetting an illegal manipulation scheme, which allegedly included naked short selling.

The brokers have asserted in a statement of defence that any long and short sales of GeneMax shares were conducted in accordance with applicable securities laws.

Two years ago, popular American short seller Amr (Anthony) Elgindy was charged with insider trading and racketeering in what U.S. authorities alleged was a scam involving two FBI agents.

© The Globe and Mail


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dog-n-pony-show
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Barter Is A Form of Securitization

Ever since Fannie Mae and Freddie Mac got the ball rolling in the mortgage market (making illiquid assets liquid by packaging them into securities), securitization has expanded into a variety of other markets, including credit-card debt, auto and home-equity loans, commercial mortgages, and trade receivables.

That practice allows originators to sell assets from their balance sheets and devote their capital to generating new business. Thus, securitization has enabled the extension of credit to a much greater number of individuals and businesses in the United States.

Companies Unused Capacity A Financial Tool

Barter provides real benefits to the undercapitalized small business owner. Because any time a company can take its unused or excess capacity and package it so it can be traded, the company is making a wise move. The proceeds obtained, either goods/services on a direct basis or trade dollars on an indirect basis, can then be used in a variety of ways such as defraying overhead expenses, gaining market share, and paying down debt.


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speed
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People, what's going on with the price, sure aint suppose to stay at .03 cents. This puppy is suppose to be at least at .20 right now. For some reasons somebody is keeping it low. Any comments?
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sully
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Sent this note today reply is at bottom..
I was happy to see in the press release, that more and more companys are switching over to Bentley.The article was somewhat vague though. Could you please provide myself and the rest of the stockholders more information on this.Are there any figures available to support this claim.
reply:Information will be coming soon.

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r.douglas
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might get exciting....
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