Ableauctions Enters in Agreement with Asian Collectibles Broker.Business Editors/High-Tech Writers FIFE Fife, council area, Scotland Fife, council area (1993 est. pop. 351,200), 510 sq mi (1,322 sq km), and former county, E Scotland, between the Firth of Forth and the Firth of Tay. The land rises to 1,500 ft (457 m) in the Lomond Hills. , Wash.--(BUSINESS WIRE)--March 25, 2004 Ableauctions.com Inc. (AMEX AMEX See: American Stock Exchange :AAC (Advanced Audio Coding) An audio compression technology that is part of the MPEG-2 and MPEG-4 standards. AAC, especially MPEG-4 AAC, provides greater compression and better sound quality than MP3, which also came out of the MPEG standard. )(the "Company") announced today that, through its wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. iCollector, it has entered into an agreement with West Coast based Shuma's Auctions to broadcast their Internet auctions exclusively for a period of three years. Under the terms of the agreement, effective March 1, 2004, iCollector will broadcast all of the Client's Internet auctions exclusively for a period of three years either on its own technology or through eBay Live Auctions. Shuma's Auctions has extensive experience in the business of sourcing and brokering high-value antiques such as furniture and various collectible collectible An asset of limited supply that is sought for a variety of reasons including, it is hoped, an increase in value. Stamps, antiques, coins, and works of art are among the many things usually classified as collectibles. pieces from Japan and Korea to buyers worldwide. The Client recently added online live auctions to garner more exposure with a diverse international audience. About Ableauctions.com Ableauctions.com is a high-tech auctioneer AUCTIONEER, contracts, commerce. A person authorized by law to sell the goods of others at public sale. 2. He is the agent of both parties, the seller and the buyer. 2 Taunt. 38, 209 4 Greenl. R. 1; Chit. Contr. 208. 3. that conducts auctions live and simultaneously broadcasts them over the Internet. With the experience of over 3,000 auctions, the Company has developed state-of-the-art technology to broadcast Internet auctions ( www.ableauctions.com/technology ) and currently provides the technology and related services to auction houses, enabling them to broadcast auctions over the Internet. For a comprehensive Corporate Update and prior releases, visit www.ableauctions.com. For more information, contact Investor Relations Investor relations The process by which the corporation communicates with its investors. at investorrelations@ableauctions.com. About iCollector.com iCollector.com is a wholly owned subsidiary of Ableauctions and is the independent connection to the world's auction houses. It was the first company dedicated to trading antiques, fine art and premium collectibles on the Internet and today represents some of the world's leading auction houses. Since January 2001, it has broadcast hundreds of live auctions in real-time on eBay Live Auctions, directly from the salesroom as the auction happens, selling tens of thousands of lots to many thousands of users online. With its unparalleled understanding and expertise in this sector, iCollector can help you to maximize your opportunities to find, buy or sell art, antiques and collectibles online. This press release contains forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. , particularly as related to, among other things, the business plans of the Company, statements relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc goals, plans and projections regarding the Company's financial position and the Company's business strategy. These forward-looking statements fall within the meaning of Section 27A of the Securities Act of 1933 and Sections 21E of the Securities Act of 1934 and are subject to the safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. created by these sections. Such forward-looking statements are based on current expectation, involve known and unknown risks, a reliance on third parties for information, uncertainties and other factors that may cause our actual results, performance or achievements, or developments in our industry, to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially from anticipated results include risks and uncertainties related to the performance of our auction houses, our ability to implement our inventory procurement The fancy word for "purchasing." The procurement department within an organization manages all the major purchases. strategy, general economic conditions, our ability to license our software to other auction houses, our ability to acquire profitable companies and integrate them into our business successfully and other factors that are detailed in our Annual Report on Form 10-KSB and on documents we file from time-to-time with the Securities and Exchange Commission. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Actual results may differ materially from the Company's expectations and estimates. |
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