SAN DIEGO, April 8 /PRNewswire-FirstCall/ -- BizAuctions,
Inc. (Pink Sheets: BZCN), a prime provider of commercial eBay and
Amazon liquidation services for excess inventories, overstocks and
returns, enters into a Joint-Venture Agreement with La Jolla
Liquidation & Auction Co. for the liquidation of the furniture,
fixtures, and equipment from the Tropicana Hotel & Casino in
Las Vegas, Nevada.
Delmar Janovec, CEO comments, "We
are extremely thrilled to enter into this Joint-Venture agreement
with La Jolla Liquidation & Auction Co. and to be part of the
liquidation of the contents of this historic Las Vegas landmark.
La Jolla Liquidation and Auction Co. has the liquidation
contract for the furniture, fixtures, and equipment from the
Tropicana Hotel & Casino. The renovation of the Tropicana Hotel
& Casino is being completed in phases with the renovation of
approximately 800 suite-rooms, kitchen areas, banquet-conference
areas, and meeting rooms, spa, and casino areas. Also included in
the renovation and liquidation will be the antique stained-glass
ceiling above the poker and craps tables in the main casino area of
the Tropicana.
The Joint-Venture with La Jolla Liquidation & Auction Co.
will be one of the largest liquidation projects that BizAuctions
has taken on to-date. The Joint-Venture will require BizAuctions
and La Jolla Liquidation & Auction Co. to hold weekly or
bi-weekly auctions at our warehouse in Otay Mesa, CA. and possibly
other facilities within the greater San
Diego area as merchandise begins arriving. BizAuctions will
select the most suitable merchandise and equipment to be sold on
our eBay or Amazon platforms with the remaining
merchandise-equipment to be sold through weekly or bi-weekly
on-site auctions. The timeline for this liquidation project will
encompass a period of nine (9) to twelve (12) months and should be
a great project to increase revenues within our eBay and Amazon
platforms as well as establishing on-site weekly or bi-weekly
auctions."
Janovec adds, "We are looking forward to working with La Jolla
Liquidation & Auction Co. and their management on this unique
project as their management brings over 25 years of liquidation
experience to the Joint-Venture. The calendar year 2010 could very
well prove to be an outstanding year for BizAuctions and the
Joint-Venture."
Romy Ashjian, President of La
Jolla Liquidation & Auction Co. comments, "This Joint-Venture
gives our company market expansion into other demographics of
the United States and will also
create opportunities in new revenue streams. We look forward to
working with the management and staff of BizAuctions to accomplish
this liquidation project for the Tropicana Hotel & Casino."
"BizAuctions employs two primary business models, whereby it
liquidates inventory through eBay and Amazon on consignment 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
and Amazon platforms and its recently opened retail store,
Lucky 7's," continues Janovec.
The Company's clients have included some of the Nation's leading
retail names at the forefront of their industries. With a long-term
strategy to provide liquidation services to Fortune 1000
enterprises, BizAuctions is a clear and lucrative solution for most
any business to liquidate excess inventory on its eBay and Amazon
platforms and its Lucky 7's retail store.
More information is available at www.BizAuctions.com. Investors
and media can receive a free investor kit for BizAuctions, Inc. by
contacting Investor Relations 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/
ABOUT BIZAUCTIONS – ADDRESSING THE $60 BILLION PROBLEM
BizAuctions, Inc. (Pink Sheets: BZCN) is a prime provider of
commercial liquidation services for excess inventory, overstock
items, and returns through its eBay and Amazon business platforms
and Lucky 7's retail store. 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, 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 strategy to provide liquidation services
through eBay and Amazon platforms and its Lucky 7's
retail store to Fortune 1000 enterprises, BizAuctions is a clear
and lucrative solution for most any business to liquidate its
excess inventory.
The Company encourages the public to read the above information
in conjunction with its year-end statement for December 31, 2009, and the quarterly statements
filed in calendar year 2009, at www.PinkSheets.com.
The information contained in this press release may include
forward-looking statements. 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.
SOURCE BizAuctions, Inc.