Ableauctions to Host Stephen Passy's ''Asphalt, Crushing, and Construction Equipment, Trucks & Trailers'' Auction Through NAALive.com.ALBUQUERQUE, N.M. -- Ableauctions.com (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. ) announced today that it will host the Stephen Passy "Asphalt asphalt (ăs`fôlt, –fălt), brownish-black substance used commonly in road making, roofing, and waterproofing. Chemically, it is a natural mixture of hydrocarbons. , Crushing, and Construction Equipment, Trucks & Trailers" auction through its subsidiary NAALive.com. This auction will feature equipment from K. Barnett & Sons, Inc., including asphalt plants An asphalt plant is a plant used for the manufacture of asphalt, macadam and other forms of coated roadstone, sometimes collectively known as blacktop. The manufacture of coated roadstone demands the combination of a number of aggregates, sand and a filler (such as stone , crushers, concrete equipment, wheel loaders, scrapers, motor graders, brooms, water trucks, utility trucks, van trucks and end and bottom dump trailers. Stephen Passy, President and Founder of Stephan Passy & Associates, has over thirty-two years of experience in the auction industry. As Vice President of the Construction and Trucking Division of Max Rouse & Sons, Inc., Stephen was involved in over $3 billion in auction sales around the globe. In 1991 he formed Stephen Passy & Associates, which grossed over $60 million. Forke Auctioneers hired him in 1997 and in three years achieved annual gross revenues of $59 million, and the highest net profit single transaction in Forkes' 78-year history. He reactivated Stephen Passy & Associates, Inc. in 1999 and produced gross revenues exceeding $55 million in the first 20 months of business. About NAALive NAALive is an Internet-based broadcast service for NAA NAA Nomina Anatomica Avium. members who conduct real auctions. Utilizing NAALive's real-time software, auction houses broadcast over the Internet and online bidders participate in live auctions as if they were physically present at the auction. NAALive also enables bidders to review auction catalogs An auction catalog is a catalog that lists items to be sold at an auction. Auction catalogs for rare and expensive items, such as art, jewelry, postage stamps, and antique furniture, are of interest in and of themselves, for they will frequently include detailed descriptions of the and place absentee One who has left, either temporarily or permanently, his or her domicile or usual place of residence or business. A person beyond the geographical borders of a state who has not authorized an agent to represent him or her in legal proceedings that may be commenced against him or her bids prior to an event. NAALive is rapidly becoming the standard for live Internet auctions and the premiere Web site for consumer access to the auction industry. This means thousands more potential bidders for your auctions. About Ableauctions.com Ableauctions.com Inc. (AMEX:AAC) is a high-tech liquidator Liquidator Person appointed by an unsecured creditor in the United Kingdom to oversee the sale of an insolvent firm's assets and the repayment of its debts. and online auction facilitator that operates the domains iCollector.com, NAALive.com and UnlimitedCloseouts.com. As an online 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 The National Auctioneers Association (NAA) is a group of auctioneers, auction businesses and related companies that seeks to promote the auction method of marketing and the practice of auctioneering in the United States The NAA is an interest group.. (NAA) and art, antique and 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. auctions for numerous galleries and auction houses around the world through eBay Live Auctions. As a liquidator, the Company, through Unlimited Closeouts, purchases overstocks, order cancellations and discontinued dis·con·tin·ue v. dis·con·tin·ued, dis·con·tin·u·ing, dis·con·tin·ues v.tr. 1. To stop doing or providing (something); end or abandon: 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 Investor relations The process by which the corporation communicates with its investors. at investorrelations@ableauctions.com. 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. The words or phrases "would be," "will allow," "intends to," "may result," "are expected to," "will continue," "anticipates," "expects," "estimate," "project," "indicate," "could," "potentially," "should," "believe," "considers" or similar expressions are intended to identify "forward-looking statements." Actual results could differ materially from those projected in the forward-looking statements as a result of a number of risks and uncertainties. Such forward-looking statements are based on current expectations, involve known and unknown risks, a reliance on third parties for information, transactions or orders that may be cancelled, 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 staff, loss of management personnel, an inability to obtain financing as and when we need it, competition from other online auction businesses, our ability to implement or manage our expansion 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. Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date. The Company cautions readers not to place undue reliance on such statements. The Company does not undertake, and the Company specifically disclaims any obligation, to update any forward-looking statements to reflect occurrences, developments, unanticipated events or circumstances after the date of such statement. E.&O.E. |
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