VALENCIA, Calif., Aug. 16, 2005 (PRIMEZONE) -- As a provider of quality goods and services to the local marketplace, AuctionCities.com (Pink Sheets:AUCC) is pursuing sales and content-based relationships with high profile automotive dealerships in the major cities throughout the country.
"The consumer to consumer sales and trading segment of the business plan will continue to anchor the long-term performance of the company; however, management is now moving to establish strategic alliances with volume providers of big ticket items that will act as a commercial draw to increase the overall product exchange on AuctionCities.com," said Michael Berman, AuctionCities.com, Inc. CEO.
"New and previously owned automobiles and the after-market industry represent a tremendous source of potential revenue for the company, playing a significant role in the development of yellow page, banner ad and print media revenue," he continued.
AuctionCities.com is currently planning similar ventures in the real estate and consumer electronics fields as key personnel are brought into the corporation. Berman concluded, "In keeping with our Micro-auctioning identity, we will be sorting the inventory of national companies and listing by the location of that product in major U.S. cities, currently available to the public in 157 markets, through our patent-pending feature Shop Your Zip-code."
Forward-Looking Statements
The factors discussed below and elsewhere in this Memorandum could adversely affect the value of the Company's Common Stock. In addition, the factors discussed below and elsewhere in this Memorandum may constitute forward-looking statements and, as such, may involve known or unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements or the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Any forward-looking statements contained in this Memorandum should not be relied upon as predictions of future events. Such forward-looking statements can be identified by the use of forward-looking terminology such as "believes," "expects," "may," "will," "should," "could," "seeks," or anticipates," or the negative thereof or other variations thereon or comparable terminology, or by discussions of strategy. Such statements are necessarily dependent on assumptions, data or methods that may be incorrect or imprecise and they may be incapable of being realized. The following factors may constitute or include cautionary, forward-looking statements identifying important factors with respect to such forward-looking statements, including certain risks and uncertainties that could cause actual results to vary materially from the future results covered in such forward-looking statements.
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