KELOWNA, British Columbia, Dec. 11 /CNW/ -- Auctions International Inc.
(OTC: AUCI), a technology company that owns and markets proprietary software
to enable real time online auctions of virtually any product or commodity for
use by the wholesale market, issued a statement from President and CEO Doug
Mann regarding yesterday's volume and price change in its common stock, "No
material changes in the Company or management would warrant an increase in
trading volume or the sudden drop in share price that occurred on December
Mann explains, "The selling pressure may have been caused by a confusion
between our Company and Auctioncities.com, with whom we have no affiliation.
Coincidentally, Auctioncities.com is also in the auctions business and trades
on the pink sheets under the stock symbol AUCC, just one letter off from ours.
Auctioncities.com indicated it would effect a 1-for-1000 reverse split on
otcbb.com yesterday, and that this split would be effective today. We want to
clarify we are unrelated companies to those who may have mistaken us for this
"Management would like to ensure shareholders that Auctions International
Inc. is moving in a very positive direction. With our technology model, AUCI
lets people sell, buy and advertise in real-time to close transactions quickly
to take advantage of economic conditions, particularly the strong Canadian
dollar, which is opening up new business opportunities in the U.S. Auctions
International has completed extensive dealer testing of AutoBidLive and is now
ready to take every dealer in North America live on the system. 2007 marked
our entry into the commercialization phase of our technology platform, and
management is very optimistic that 2008 will be a tremendous year of growth
and increased shareholder value."
About Auctions International Inc.
Through its wholly owned subsidiary AutoBidLive, Auctions International
Inc. is set to bring together over 65,000 North American licensed pre-owned
auto dealers into a dynamic online auction reducing their dependence on
physical auctions. By utilizing state-of-the-art technology, dealers can make
bids in real time, move inventory, and search and buy vehicles specific to
consumers' needs. In addition to online automobile auctions for the wholesale
market, Auctions International Inc. has identified multiple commodity
verticals, which could benefit from its leading-edge online auction technology
platform. For more information, visit http://www.AuctionsIR.com and
This press release contains or may contain forward-looking statements
such as statements regarding the Company's growth and profitability, growth
strategy, liquidity, access to public markets, operating expense reduction,
and trends in the industry in which the Company operates. The forward-looking
statements contained in this press release are also subject to other risks and
uncertainties, including those more fully described in the Company's filings
with the Securities and Exchange Commission. The Company assumes no obligation
to update these forward-looking statements to reflect actual results, changes
in risks, uncertainties or assumptions underlying or affecting such
statements, or for prospective events that may have a retroactive effect.
For more information please contact:
Investor Relations - Canada
CanVox Communications Inc.
Investor Relations - U.S.
OTC Financial Network
For further information:
For further information: Investor Relations - Canada, CanVox
Communications Inc., +1-866-503-AUCI (2824), firstname.lastname@example.org, or Investor
Relations - U.S., Rick McCaffrey, OTC Financial Network, +1-781-444-6100 x621,
email@example.com Web Site: http://www.auctionsintinc.com