BizAuctions Letter to Stockholders & Business Development Update.SAN DIEGO San Diego (săn dēā`gō), city (1990 pop. 1,110,549), seat of San Diego co., S Calif., on San Diego Bay; inc. 1850. San Diego includes the unincorporated communities of La Jolla and Spring Valley. Coronado is across the bay. -- BizAuctions, Inc. (Pink Sheets: BZCN), a prime provider of commercial eBay (eBay, Inc., San Jose, CA, www.ebay.com) The major auction service on the Web. eBay popularized the concept of buying and selling online, and both individuals and commercial enterprises list items for sale. liquidation The collection of assets belonging to a debtor to be applied to the discharge of his or her outstanding debts. A type of proceeding pursuant to federal Bankruptcy services for excess inventories, today released the following Letter to Stockholders and Business Development Update. All interested parties including media, shareholders, and the investment community at large are encouraged to review the letter from BizAuctions 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. , Delmar Janovec, for more information on company developments. ----- BizAuctions, Inc. Letter to Stockholders Pink Sheets: BZCN Dear BZCN Stockholders, This has been an exciting first year of operations for BizAuctions. We have made a number of great accomplishments in line with our operational and growth goals, and I would like to take the opportunity to share those with you now as we are quickly approaching the end of the year. THIRD QUARTER RESULTS I'm I'm Contraction of I am. Our Living Language Speakers of some scattered varieties of American English sometimes use I'm instead of I've or I have in present perfect constructions, as in happy to report that for the Third Quarter ended September September: see month. 30, 2006, we continued to do solid business by providing a valuable service to our clients. Although the Company is operating at a loss, revenue increased substantially for the quarter as compared to the six months ended June 30, 2006. This is a young company that has made great progress in a short period of time, and we are pleased with the amount of revenue we have been able to generate. As we move forward, management will continue to work diligently dil·i·gent adj. Marked by persevering, painstaking effort. See Synonyms at busy. [Middle English, from Old French, from Latin d in growing revenues and improving margins. Our accountants are compiling com·pile tr.v. com·piled, com·pil·ing, com·piles 1. To gather into a single book. 2. To put together or compose from materials gathered from several sources: the results of the Third Quarter operations with the financial statements planned to be released on November 14, 2006. The financial information will be available at www.PinkSheets.com. NEW OPERATIONS FACILITY In July we entered into a lease for a new operations facility in San Diego that encompasses more than 20,000 square feet of warehouse, office, and operating space. This stand-alone building is truly superb, with very high ceilings allowing us to stack shelving shelv·ing n. 1. Shelves considered as a group. 2. Material for shelves. 3. An incline; a slope. shelving Noun 1. material for shelves 2. high to accommodate storage of clients' excess inventory while we work towards liquidating it through eBay or other means. During the quarter we successfully settled into this new space, and if you have not done so, we invite you to view the Facilities Tour video found at the following link: http://www.bizauctions.com/tour.shtml PURSUING A-LIST PROSPECTS As previously reported, we have begun initiatives to pursue A-list prospects such as companies from the Top 100 retailers and the FORTUNE 500. Per this initiative, we are targeting a number of retail facilities of Top 100 retailers and FORTUNE 500 companies that may be suited to our services. We have begun an introductory marketing program to solicit Liquidation Services Contracts with select facilities of these A-list companies, and we will continue to pursue these prospects into the future. CONCLUSION To conclude, BizAuctions has made much progress over the last several months and we see a bright future for the Company. Management is working to position BizAuctions as a driving force in this industry, and provided the Company can obtain the necessary working capital, we believe we can continue to meet our goals and grow the business. We thank you for your support, and wish you happy and safe upcoming holidays. Sincerely, Delmar Janovec CEO BizAuctions, Inc. ABOUT BIZAUCTIONS - ADDRESSING THE $60 BILLION PROBLEM BizAuctions, Inc. (Pink Sheets: BZCN) is a prime provider of commercial eBay liquidation services for excess inventory, overstock o·ver·stock tr.v. o·ver·stocked, o·ver·stock·ing, o·ver·stocks To stock more of (something) than necessary or desirable. n. An excessive supply. Verb 1. items, and returns. Our clients have included some of the Nation's leading retail names at the forefront of their industries. BizAuctions addresses the $60 billion excess inventory problem for clients by sending trucks to pick up pallets of excess inventory, selling the inventory on eBay, and collecting payment. We provide our clients with a new sales channel to generate additional revenue on excess inventory, while at the same time freeing up their valuable storage and retail space. With a long-term Long-term Three or more years. In the context of accounting, more than 1 year. long-term 1. Of or relating to a gain or loss in the value of a security that has been held over a specific length of time. Compare short-term. strategy to provide eBay liquidation services to Fortune 1000 enterprises, BizAuctions is a clear and lucrative solution for most any business to liquidate To pay and settle the amount of a debt; to convert assets to cash; to aggregate the assets of an insolvent enterprise and calculate its liabilities in order to settle with the debtors and the creditors and apportion the remaining assets, if any, among the stockholders or owners of the its excess inventory on eBay. The information contained in this press release may include 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. . Forward-looking statements usually contain the words "may," "could," "possibly," "feel," "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 services, competition, limited service facilities, dependence on technological developments and protection of its intellectual property. The Company's actual results could differ materially from those discussed herein. |
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