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EZ Inc., formerly Bidhit.com, an online Internet auction company since 1997, yesterday announced the company will be ceasing normal business operations at the end of this week.
Assets of the company, including EZbid.com intellectual property, are for sale. In an effort to provide for an orderly phase-down of operations and to protect the best interests of shareholders and creditors, a management team has been named to seek available strategic alternatives and to oversee the final auction operations.
Meanwhile, Bidpath Corporation, an infrastructure, tools and online distribution network provider for traditional auction industry, has added Farmbid.com to their growing list of online distribution partners.
Farmbid.com, a resource site created by farmers for farmers, will use Bidpath's distribution system and network to offer its users instant online access to agriculture-related listings from traditional auctioneers.