Auction Mills Incorporated Company Update.DALLAS Dallas, city (1990 pop. 1,006,877), seat of Dallas co., N Tex., on the Trinity River near the junction of its three forks; inc. 1871. The second largest Texas city, after Houston, and the eighth largest U.S. -- Auction Mills Incorporated (Pink Sheets:AUML) today announced that it has implemented a plan to cut costs by consolidating its business operations Business operations are those activities involved in the running of a business for the purpose of producing value for the stakeholders. Compare business processes. The outcome of business operations is the harvesting of value from assets while it evaluates the viability of its current business model, the e-Bay See eBay. drop-off market, and its franchise operations. As part of the cost-cutting and consolidation plan, the Company will close its McKinney, Texas McKinney is a city in Collin County, Texas (USA), the county seat and second in population to Plano. As of the 2006, the North Central Texas Council of Governments estimated the city population to be 102,853. retail location and will put on hold its franchising efforts. The Company will continue to operate its Dallas retail location. The implementation of this plan will enable the Company to conserve its remaining cash resources while it completes its evaluation of future operating prospects. Unless the Company generates additional cash flow from its operations or is able to raise additional capital, its ability to continue as a going concern may be jeopardized. |
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