ABLEAUCTIONS 925879: RESTRUKTURIERUNG LÄUFT!!!
Könnten nach den schwachen Resultaten jetzt wieder durchstarten:
Zahlreiche Firmenpleiten im Herbst zu erwarten - und das Auktionsgeschäft ist - wie ebay beweist - lukrativ!
Ableauctions ist mittlerweile aus 0,1$ gefallen, aber es kommt jetzt eine Stabilisierung rein - GEGENREAKTION und REBOUND überfällig!
Könnten mal schnell 100% machen, wenn Aufmerksamkeit zurückkehrt!
Letzte News:
Ableauctions Releases Second Quarter 2002 Results and iCollector Results
TACOMA, Wash., Aug 15, 2002 (PRIMEZONE via COMTEX) -- Ableauctions.com(tm),
Inc. (AMEX: AAC) (the "Company" announced today the results of operations for
the Company for the quarter ended June 30, 2002.
The Company reported net auction revenue of $2,111,104 during the three months
ended June 30, 2002 compared to $3,232,635 for the corresponding period in the
prior year, a decrease of 34.7%. The Company also reported gross profit margins
of 55.7%, a loss from operations of $372,000 and a non-cash loss of $242,000
comprised primarily of stock option compensation, interest on a deferred
compensation note, severance related to cost cutting and depreciation.
The Company, having embarked on an aggressive plan to restructure and
consolidate its operations, expects to curb losses in both areas. The non-cash
losses are expected to be reduced as a result of the conversion of the deferred
compensation note to stock as reported after the Company`s Annual General
Meeting and following the payout of severance. The Company`s current negative
working capital of $3,707,384 is expected to become positive as a result of the
conversion of the deferred compensation note, the sale of the Company`s building
in Arizona and the strategic restructuring. The Company`s Operating Loss of
$372,000 is also expected to be reduced significantly next quarter as it
realizes the benefits of from already implemented cost cutting measures.
Ableauctions wholly owned subsidiary iCollector International Ltd. realized a
profit for the second consecutive quarter. Historically, iCollector had
sustained losses exceeding $750,000 per quarter. In the second quarter, the
restructured division of iCollector realized a profit of approximately $55,000;
a dramatic improvement over its previous results. The Company continues to place
emphasis on its strongest performing unit, its technology arm, as it
aggressively pursues the deployment of its proprietary technology and services
into the North American auction market.
The Company has implemented strong controls throughout its subsidiaries with a
goal of attaining profitability before year-end. The benefits of these controls
are expected to reflect strongly on future financials.
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 are
acquired through bankruptcies, insolvencies and defaults. For a comprehensive
Corporate Update and prior releases, visit www.ableauctions.com. For more
information contact Investor Relations at 604-521-3375 or
investorrelations@ableauctions.com.
About iCollector.com
iCollector.com is the independent connection to the world`s auction houses.
Founded in 1994, it was the first company dedicated to trading antiques, fine
art and premium collectibles on the Internet. Today iCollector.com represents
some of the world`s leading auction houses. Hundreds of thousands of collectors
use icollector.com to search its global client base of auction houses and place
bids, with the support of its extensive catalog archive. Since January 2001, its
alliance with eBay Live Auctions has resulted in hundreds of Live Auctions being
broadcast in real-time, direct to the saleroom as the auction happens, selling
tens of thousands of lots to many thousands of users online. With its
unparalleled understanding and expertise in this sector, iCollector can help you
to maximize your opportunities to find, buy or sell art, antiques and
collectibles online.
This press release contains forward-looking statements, 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 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.
Noch auf ATL, aber Rebound dürfte bevorstehen.
Meinungen?
MfG
Star Ikone 2
Könnten nach den schwachen Resultaten jetzt wieder durchstarten:
Zahlreiche Firmenpleiten im Herbst zu erwarten - und das Auktionsgeschäft ist - wie ebay beweist - lukrativ!
Ableauctions ist mittlerweile aus 0,1$ gefallen, aber es kommt jetzt eine Stabilisierung rein - GEGENREAKTION und REBOUND überfällig!
Könnten mal schnell 100% machen, wenn Aufmerksamkeit zurückkehrt!
Letzte News:
Ableauctions Releases Second Quarter 2002 Results and iCollector Results
TACOMA, Wash., Aug 15, 2002 (PRIMEZONE via COMTEX) -- Ableauctions.com(tm),
Inc. (AMEX: AAC) (the "Company" announced today the results of operations for
the Company for the quarter ended June 30, 2002.
The Company reported net auction revenue of $2,111,104 during the three months
ended June 30, 2002 compared to $3,232,635 for the corresponding period in the
prior year, a decrease of 34.7%. The Company also reported gross profit margins
of 55.7%, a loss from operations of $372,000 and a non-cash loss of $242,000
comprised primarily of stock option compensation, interest on a deferred
compensation note, severance related to cost cutting and depreciation.
The Company, having embarked on an aggressive plan to restructure and
consolidate its operations, expects to curb losses in both areas. The non-cash
losses are expected to be reduced as a result of the conversion of the deferred
compensation note to stock as reported after the Company`s Annual General
Meeting and following the payout of severance. The Company`s current negative
working capital of $3,707,384 is expected to become positive as a result of the
conversion of the deferred compensation note, the sale of the Company`s building
in Arizona and the strategic restructuring. The Company`s Operating Loss of
$372,000 is also expected to be reduced significantly next quarter as it
realizes the benefits of from already implemented cost cutting measures.
Ableauctions wholly owned subsidiary iCollector International Ltd. realized a
profit for the second consecutive quarter. Historically, iCollector had
sustained losses exceeding $750,000 per quarter. In the second quarter, the
restructured division of iCollector realized a profit of approximately $55,000;
a dramatic improvement over its previous results. The Company continues to place
emphasis on its strongest performing unit, its technology arm, as it
aggressively pursues the deployment of its proprietary technology and services
into the North American auction market.
The Company has implemented strong controls throughout its subsidiaries with a
goal of attaining profitability before year-end. The benefits of these controls
are expected to reflect strongly on future financials.
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 are
acquired through bankruptcies, insolvencies and defaults. For a comprehensive
Corporate Update and prior releases, visit www.ableauctions.com. For more
information contact Investor Relations at 604-521-3375 or
investorrelations@ableauctions.com.
About iCollector.com
iCollector.com is the independent connection to the world`s auction houses.
Founded in 1994, it was the first company dedicated to trading antiques, fine
art and premium collectibles on the Internet. Today iCollector.com represents
some of the world`s leading auction houses. Hundreds of thousands of collectors
use icollector.com to search its global client base of auction houses and place
bids, with the support of its extensive catalog archive. Since January 2001, its
alliance with eBay Live Auctions has resulted in hundreds of Live Auctions being
broadcast in real-time, direct to the saleroom as the auction happens, selling
tens of thousands of lots to many thousands of users online. With its
unparalleled understanding and expertise in this sector, iCollector can help you
to maximize your opportunities to find, buy or sell art, antiques and
collectibles online.
This press release contains forward-looking statements, 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 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.
Noch auf ATL, aber Rebound dürfte bevorstehen.
Meinungen?
MfG
Star Ikone 2
