LAS VEGAS, NV, Jan 04, 2008 (MARKET WIRE via COMTEX) -- AmeriResource Technologies, Inc. (ARRT, Trade ), a diversified holding company announced today that its revenues (unaudited) for its subsidiaries, BizAuctions, Inc., AuctionWagon Inc., and RoboServer Systems Corp., for the quarter ending December 31, 2007, has increased approximately 363%.
"For the quarter ending December 31, 2007, revenues have increased to approximately $1,033,131 from approximately $223,123 for the corresponding quarter in 2006. The increase in revenues is attributed to the core management team and staff in each of the companies as well as the strong growth in the business model of BizAuctions, Inc. The Companies have made significant progress in increasing gross profits and reducing expenses however have not achieved net profits after General and Administrative expenses," noted Delmar Janovec, CEO of AmeriResource.
"BizAuctions employs two primary business models, whereby it liquidates inventory through eBay on consignment for a lucrative commission; and/or it purchases inventory at a fraction of retail price for the purpose of liquidating it for a profit. Management has worked diligently to bring in new commercial clients who recognize the Company's commitment to provide a quality service for the client. BizAuctions consigns, buys inventory, and liquidates through eBay," continues Janovec.
"AuctionWagon is one of the leaders in the auction-consignment software management systems and operations. After opening one of the world's very first eBay drop-off stores, AuctionWagon's team of retail experts and former software developers from Microsoft and eBay developed a software platform, the Store Manager Pro [G2], which has revolutionized the way merchandise is offered for sale to the world on eBay. AuctionWagon is both an eBay Certified Developer and eBay Trading Post that has the insider expertise and proven ability to lead the industry," comments Janovec.
"RoboServer Systems Corp., developer of the revolutionary Self-Serve System that enables quick-service restaurant customers to process their own orders on a touch-screen kiosk has made significant progress in 2007 with the development of its 'Assisted Server-CT-MY1,' dual screen counter top unit, and the establishment of two new divisions within the Company, 'LineBuster' and 'iOrder.' We anticipate being very busy in 2008 with the development of the 'Assisted Server-CT-MY1' and the establishment of RoboServer's two new divisions, 'LineBuster' and 'iOrder,'" concluded Janovec.
The Company encourages the public to read the above information in conjunction with its year-end 10-KSB for December 31, 2006, and the third Quarter 10-QSB for September 30, 2007. The financial statements can be viewed at www.sec.gov .
ABOUT AMERIRESOURCE: AmeriResource is a diversified holding company with headquarters in Las Vegas, Nevada. It operates BizAuctions, Inc., AuctionWagon Inc., RoboServer Systems Corp., and VoIPCOM USA, Inc., as operating subsidiaries. For more information on the Company and its operating subsidiaries, please see the Company's website at http://www.ameriresourcetechnologies.com .
The information contained in this press release may include forward-looking statements. Forward-looking statements usually contain the words "estimate," "anticipate," "believe," "expect," or similar expressions that involve risks and uncertainties. These risks and uncertainties include the Company's uncertain profitability, need for significant capital, uncertainty concerning market acceptance of its products, competition, limited service and manufacturing facilities, dependence on technological developments and protection of its intellectual property. The Company's actual results could differ materially from those discussed herein. Factors that could cause or contribute to such differences are discussed more fully in the "Risk Factors," "Management's Discussion and Analysis or Plan of Operation" and other sections of the Company's Form 10-KSB and other publicly available information regarding the Company on file with the Securities and Exchange Commission, at www.sec.gov . The Company will provide you with copies of this information upon request.
Contact:
AmeriResource Technologies Inc. Delmar Janovec (702) 214-4249 Email: Email Contact
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