Ableauctions.com Files to Become Fully Reporting Issuer
Ableauctions.com Files to Become Fully Reporting Issuer
BURNABY, British Columbia, Nov 19, 1999 (BUSINESS WIRE) --
Ableauctions.com(TM) Inc. (OTCBB:ABLC) (the "Company) announced today
that it has filed a registration statement on Form 10-SB to register
its common stock under the Securities Exchange Act of 1934, as amended
(the "Exchange Act"), with the United States Securities and Exchange
Commission ("SEC") to become a reporting issuer.
Ableauctions.com's common stock is currently quoted on the NASD
Over-the-Counter Bulletin Board (OTCBB) under the symbol ABLC. In order
for Ableauctions.com's common stock to remain eligible for quotation on
the OTCBB under the new eligibility requirements, Ableauctions.com must
become a reporting issuer in good standing under the Exchange Act and
the SEC's staff must come to a position of no further comments on the
Form 10-SB. In the event Ableauctions.com does not meet these
eligibility requirements on or before January 12, 2000,
Ableauctions.com's common stock will be ineligible for quotation on the
OTCBB until the eligibility requirements are met.
Abdul Ladha, President and CEO of Ableauctions.com stated, "The
disclosure requirements related to the filing of the Form 10-SB are a
positive step forward for the Company, and the OTCBB as a whole, in
providing shareholders with accurate and timely information."
About Ableauctions.com, Inc.
Ableauctions.com is a high tech business-to-business auctioneer that
conducts its auctions live and simultaneously broadcasts them over the
Internet. The Company liquidates a broad range of computers,
electronics, office equipment, furniture and industrial equipment that
it acquires through bankruptcies, insolvency's and defaults. The
Company's Internet Auction web site can be located at
www.ableauctions.com.
For more information contact: Investor Relations 877/684-8444
invest@ableauctions.com Web site: www.ableauctions.com
BY ORDER OF THE BOARD OF DIRECTORS
"Abdul Ladha" . Abdul Ladha, President NASD has neither approved nor
reviewed the information contained herein.
Some statements in the report are forward looking and are subject to
certain risks and uncertainties. These risks and uncertainties include,
but are not limited to, economic conditions, changes in law or
regulations, demand for products and services of the company and the
effect of competition. These risks and uncertainties could
significantly affect anticipated results in the future and actual
results may differ materially from any forward-looking statements.
Copyright (C) 1999 Business Wire. All rights reserved.
Distributed via COMTEX.
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CONTACT: Ableauctions.com, Inc.
Investor Relations, 877/684-8444
invest@ableauctions.com
Web site: www.ableauctions.com
WEB PAGE: businesswire.com
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