SAN DIEGO, April 13 /PRNewswire-FirstCall/ -- BizAuctions, Inc. (Pink Sheets: BZCN), a prime provider of commercial eBay and Amazon liquidation services for excess inventories, overstocks and returns, and La Jolla Liquidation & Auction Co. have begun receiving the first tractor-trailer loads of merchandise from the Tropicana Hotel & Casino in Las Vegas, Nevada.
Delmar Janovec, CEO comments, "Since the announcement of our Joint-Venture agreement on April 8, 2010, BizAuctions and La Jolla Liquidation & Auction Co., have received four (4) semi-truck loads of furniture, fixtures, and equipment which is just the start of a very large liquidation project that will take from nine (9) to twelve (12) months to complete. This begins the liquidation of furniture, fixtures, and equipment from the Tropicana Hotel & Casino, a historic Las Vegas landmark.
"Under the Joint-Venture, BizAuctions and La Jolla Liquidation & Auction Co. have begun the task of inventorying the merchandise and selecting the most appropriate goods and equipment to be sold on our eBay or Amazon platforms. The remaining goods-equipment will be sold through bi-weekly or monthly live-auctions that will be held at BizAuctions warehouse in Otay Mesa or possibly at other facilities within the greater San Diego area or County.
"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. Included in the liquidation will be the amazing antique stained-glass ceiling above the poker and craps tables in the main casino area of the Tropicana."
Janovec adds, "We are working very close with the management of La Jolla Liquidation & Auction Co. to enlist their knowledge of live-auctions for the preparation and scheduling of upcoming auctions over the next 30, 60, 90 days, and beyond. We are gaining valuable experience for BizAuctions and welcome the expertise of the live-auction business that La Jolla Liquidation & Auction Co. brings to the Joint Venture.
"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.