News-Antique.com - Nov 30,-0001 - OJAI, Calif.--July 15, 2005--Ableauctions.com Inc. (AMEX:AAC) (the "Company") announced today that it expects its wholly owned subsidiary iCollector.com Technologies Ltd. to surpass growth expectations for 2005. The subsidiary's gross online sales up to the second quarter of 2005 have almost surpassed its 2004 online sales, with expectations that the recent endorsement of iCollector.com by the National Auctioneers Association (NAA) will only better the scenario.
The Company expects to increase its marketing efforts jointly with eBay Live Auctions and the NAA to increase the conversion rate of auctioneers utilizing the Company's auction services, with specific initiatives aiming to increase the already 22 million hits per month the site has sustained for the year. The Company also expects to increase efficiency in its marketing and operations following the consolidation of its NAALive.com and iCollector.com operations.
Ableauctions.com Inc. (AMEX:AAC) is a high-tech liquidator and online auction facilitator that operates the domains iCollector.com, NAALive.com, Unlimited Closeouts.com and iTrustee.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 (NAA) and art, antique and collectible auctions for numerous galleries and auction houses around the world through eBay Live Auctions.
As a liquidator, the Company, through Unlimited Closeouts and iTrustee, purchases overstocks, order cancellations and discontinued 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 at firstname.lastname@example.org.
This press release contains forward-looking statements, particularly as related to, among other things, the business plans of the Company, statements relating to 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." These forward-looking statements fall within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934 and are subject to the safe harbor created by these sections. 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