Ableauctions.com Featured On CBS MarketWatch.Business Editors, Technology Writers SCOTTSDALE, Ariz.--(BUSINESS WIRE)--May 2, 2001 Ableauctions.com(TM), 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") is pleased to announce that it was featured on CBS (Cell Broadcast Service) See cell broadcast. MarketWatch Sunday, April 29, 2001, at 5:00 pm Pacific Time. This video interview, as well as several other media clips from various networks, are available on www.ableauctions.com or on the CBS MarketWatch home page. CBS MarketWatch reporter Victoria Fung covered one of many defunct dot-com auctions held by Ableauctions in San Mateo San Mateo (săn mətā`ō), city (1990 pop. 85,486), San Mateo co., W Calif., on San Francisco Bay; inc. 1894. It is a commercial and retail center with some high-technology manufacturing. San Mateo, Spanish for St. , Calif. The Company's operations in California, Washington, Arizona and British Columbia British Columbia, province (2001 pop. 3,907,738), 366,255 sq mi (948,600 sq km), including 6,976 sq mi (18,068 sq km) of water surface, W Canada. Geography have been the focus of strong media attention in the past few months due to the failure of dot-com companies. "This market shakeout Shakeout A situation in which many investors exit their positions, often at a loss, because of uncertainty or recent bad news circulating around a particular security or industry. Notes: During the dotcom boom and bust, numerous shakeouts occurred. is actually a good thing, not just for Ableauctions.com, but for the market in general", said Abdul Ladha, president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Ableauctions.com. "From the Company's perspective, the failure of dot-coms translates into increased profitability for Ableauctions and exceptional savings for our customers. From the over saturated dot-com market's perspective, the decrease in the number of players results in an increased market share and greater profitability for the remaining players. The criteria for investment have also changed with more emphasis being placed on fundamental brick-and-mortar components, profitability and track records." About Ableauctions.com Ableauctions.com is a high tech business-to-business and consumer auctioneer that conducts auctions live and simultaneously broadcasts them over the Internet. The Company liquidates a broad range of products including computers, electronics, office equipment, furniture and industrial equipment that is acquired through bankruptcies, insolvencies and defaults. This release and prior releases are available on the Company's Internet Auction web site located at www.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 the business plans of the Company, 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 involve known and unknown risks, 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 strategy, general economic conditions, our ability to license our software to other auction houses, and other factors that are detailed in our Annual Report on Form 10-KSB filed 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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