ARRT Update: BizAuctions Revenues for January 2008 Increase by 335% 2/4/2008
LAS VEGAS, NV, Feb 04, 2008 (MARKET WIRE via COMTEX News Network) -- AmeriResource Technologies, Inc. (OTCBB: ARRT), a diversified holding company, announced today that January revenues (unaudited) for its subsidiary, BizAuctions, Inc., increased by approximately 335% over revenues for the same period in 2007.
"For the month ending January 31, 2008, revenues (unaudited) have increased to approximately $386,495 from approximately $88,844, an increase of $297,651 or 335% over the corresponding month in 2007. BizAuctions' eBay business model continues to demonstrate strong and steady growth while the Company broadens its operations. Management has made great strides in increasing gross profits while reducing monthly operating expenses and has not realized net profits on a consistent basis," comments 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. BizAuctions consigns, buys inventory, and liquidates through eBay," continues Janovec.
BizAuctions' clients have included some of the Nation's leading retail names at the forefront of their industries. With a long-term strategy to provide eBay liquidation services to Fortune 1000 enterprises, BizAuctions is a clear and lucrative solution for most any business to liquidate excess inventory on eBay.
BizAuctions' operations are designed for maximum capacity to handle most any eBay liquidation project. Whether the client is a Fortune 500 company with 1,000 items or a small business with 100 items, BizAuctions can take on most any project and recover funds from clients' excess inventory.
More information is available at www.BizAuctions.com. Investors and media can receive a free investor kit for BizAuctions, Inc. by contacting Investor Relations at investors*BizAuctions.com or (800) 961-3275. A virtual tour of BizAuctions' facilities and flash video presentation can be viewed at http://www.bizauctions.com/tour.shtml.
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., among others 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.
I am wondering, if I should move my buy order from 0.0002 to 0.0003 or if there is a little chance left that they let a few 0002 orders through.
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The record date for purposes of determining the number of outstanding shares of voting Stock of AMRE and for determining Stockholders entitled to vote, is the close of business on October 26, 2007 (the “Record Date”). As of the Record Date, AMRE has outstanding 1,834,003,412 shares of Common Stock and 1,558,287 shares of preferred stock.
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