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OJAI, Calif.--(BUSINESS WIRE)--Nov. 14, 2005--Ableauctions.com Inc. (AMEX:AAC - News; the "Company") today announced the results of operations for the quarter ended September 30, 2005. For the three-months ended September 30, 2005, the Company reported revenues from Sales and Commissions of $1,358,240 and an additional $310,000 from the proceeds realized from the settlement of a legal claim, bringing total revenue to $1,668,240, compared to revenues of $613,849 from the previous quarter and revenues of $1,293,110 during the same period in 2004. The Company reported Net Income of $422,676 for the three-month period ended September 30, 2005, compared to Net Income of $47,801 from the previous quarter, and Net Income of $11,383 during the same period in 2004. For the nine-months ended September 30, 2005, the Company reported revenues of $3,431,833, compared to $3,769,243 for the same period in 2004, and Net Income of $300,914, compared to Net Income of $165,897 for the same period in 2004. The Company expects revenues for the fourth quarter of 2005 to exceed revenues from the corresponding period in the previous year. The Company's online auction sessions increased by 43% for the three-months ended September 30, 2005 from the same period in the previous year, and increased by 67% for the nine-months ended September 30, 2005 from the same period in the previous year. The Company's online auction revenue increased by 33% for the three-months ended September 30, 2005 from the same period in the previous year, and increased by 38% for the nine-months ended September 30, 2005 from the same period in the previous year. The number of registered bidders increased by 212% for the three-months ended September 30, 2005 from the same period in the previous year, and increased by 165% for the nine-months ended September 30, 2005 from the same period in the previous year. Shareholders' Equity, defined as the carrying amount of the Company's assets minus its liabilities, increased to $12,566,141 as at September 30, 2005, from $11,505,806 as at December 31, 2004. About Ableauctions.com Ableauctions.com Inc. (AMEX:AAC - News) is a high-tech liquidator and on-line auction facilitator that operates the domains iCollector.com, Naalive.com, Unlimited Closeouts.com and iTrustee.com. Visit www.icollector.com or (www.icollector.com/ourTechnology.aspx) As an on-line auction facilitator, the Company, with the experience of over 3,000 auctions, has developed state-of-the-art technology to broadcast auctions over the Internet (www.ableauctions.com/technology) and currently provides the technology and related services to auction houses, enabling them to broadcast auctions over the Internet. The Company broadcasts business and industrial auctions over the Internet for auctioneers and members of the National Auctioneers Association (NAA) and art, antique and collectible auctions for numerous galleries and auction houses around the world through eBay Live Auctions. As a liquidator, the Company, through Unlimited Closeouts and iTrustee, purchases overstocks, order cancellations and discontinued products from major manufacturers and importers, then sells the merchandise to major retail chains, other resellers or the public. For a comprehensive Corporate Update and prior releases, visit www.ableauctions.com. For more information, contact Investor Relations at investorrelations*ableauctions.com.
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