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AAC news Shareholders` Equity Expected to Exceed $10 Million in Fiscal 2004 as Ableauctions Stock Breaks Trading Record

December 17, 2004 11:00:00 (ET)


FIFE, Wash., Dec 17, 2004 (BUSINESS WIRE) -- Ableauctions.com Inc. (AAC, Trade) (the "Company") announced today that it expects shareholders' equity, defined as the value of the Company's assets minus its liabilities, to increase for the eighth consecutive quarter to over $10 million, with no long-term debt and short-term liabilities of approximately $200,000.

The Company's trading volume of over 17.95 million shares on December 16, 2004, again marks the single highest day of activity for the Company and ranked the Company's volume in second spot on the most active list for AMEX traded equities, behind only (AAC, Trade).

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. 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. 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 to the performance of our on-line auction business, our ability to implement our inventory procurement strategy, general economic conditions, our ability to license our software to other auction houses, our ability to acquire profitable companies and integrate them into our business successfully and other factors that are detailed in our Annual Report on Form 10-KSB and on documents we file from time-to-time 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. The Company does not realize nor book the full revenue of auctions that it facilitates in its financials, only the net auction fees, that can vary from time-to-time, that it realizes.

SOURCE: Ableauctions.com Inc.


Ableauctions.com Inc.
Thorsten Bonn, 604-521-3369