BizAuctions Secures New Contract in September.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, has secured a new contract in September September: see month. with one of the top 100 retailer-wholesalers in the USA, involving liquidation services for overstocks, excess inventory and returns. "BizAuction's eBay business model continues to show revenue growth as indicated since the 3rd quarter of 2006. This new contact with a top retailer is a testament to management's and staff's commitment in providing quality liquidation services to our clients. It is clear that American companies are in need of quality liquidation services," commented Delmar Janovec, 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. . Although BizAuctions has not realized a net profit on a consistent basis, it is very close to achieving a consistent net profit. BizAuctions revenues have increased steadily since September of 2006, as follows: Quarter Ended < Revenue 9/30/06 < $192,097 12/31/06 < $223,123 3/31/07 < $326,906 6/30/07 < $438,764 9/30/07 < $971,965 12/31/07 < $1,010,183 3/31/08 < $1,034,541 6/30/08 < $852,269 "At $60 billion, BizAuctions is targeting an enormous market while helping companies solve one of their greatest problems. BizAuctions employs two primary business models, whereby it liquidates inventory through eBay on consignment The delivery of goods to a carrier to be shipped to a designated person for sale. A Bailment of goods for sale. A consignment is an arrangement resulting from a contract in which one person, the consignor, either ships or entrusts goods to another, the for a lucrative commission; and/or it purchases inventory at a fraction of retail price for the purpose of liquidating it for a profit. BizAuctions consigns, buys inventory, and liquidates through eBay," continues Janovec. BizAuctions' operations are designed for maximum capacity to handle most any eBay liquidation project. Whether the client is a Fortune 500 company with 1,000 items or a small business with 100 items, BizAuctions can take on most any project and recover funds from clients' excess inventory. More information is available at www.BizAuctions.com. Investors and media can receive a free investor kit for BizAuctions, Inc. by contacting Investor Relations Investor relations The process by which the corporation communicates with its investors. at investors@BizAuctions.com or (800) 961-3275. A virtual tour of BizAuctions' facilities and flash video presentation can be viewed at http://www.bizauctions.com/tour.shtml. The Company encourages the public to read the above information in conjunction with its year-end financial statement for December 31, 2007, and the Quarterly statements filed in 2008. The financial statements can be viewed at www.pinksheets.com. About BizAuctions, Inc.: 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," "hope," "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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