BizAuctions Signs Letter of Intent With Midwest Outlet Centers
November 02 2009 - 7:00AM
PR Newswire (US)
SAN DIEGO, Nov. 2 /PRNewswire-FirstCall/ -- BizAuctions, Inc. (Pink
Sheets: BZCN), a prime provider of commercial eBay liquidation
services for excess inventories, returns, and overstocks, announced
today the Company has signed a Letter of Intent with Midwest Outlet
Centers. Delmar Janovec, CEO comments, "BizAuctions has entered
into a Letter of Intent with Midwest Outlet Centers to form a
Joint-Venture for the purpose of selling its slow moving
merchandise that is not conducive to the eBay business model.
Certain merchandise could bring a higher price when sold through an
Outlet Center versus our eBay business model. Most Outlet Centers
draw their customers from a wide geographic area and enjoy an
established customer base. This would provide BizAuctions with more
options as to how certain merchandise could be sold to the
consumer. We are looking forward to working with Tina Palazzola of
Midwest Outlet Centers in developing a good business relationship
that should prove to be beneficial for both companies". Tina
Palazzola, President of Midwest Outlet Centers notes, "We believe
that Midwest Outlet Centers can provide BizAuctions another venue
for the sale of their name brand products and we are hopeful the
companies can build a long-term business relationship."
"BizAuctions employs two primary business models, whereby it
liquidates inventory through eBay 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 its
recently opened retail store, Lucky 7's, and soon through Midwest
Outlet Centers" 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 eBay
liquidation services to Fortune 1000 enterprises, BizAuctions is a
clear and lucrative solution for most any business to liquidate
excess inventory on eBay. More information is available at
http://www.bizauctions.com/. Investors and media can receive a free
investor kit for BizAuctions, Inc. by contacting Investor Relations
at 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 eBay liquidation services for excess
inventory, overstock items, and returns. 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 on eBay, 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 eBay liquidation services to Fortune
1000 enterprises, BizAuctions is a clear and lucrative solution for
most any business to liquidate its excess inventory on eBay. The
Company encourages the public to read the above information in
conjunction with its year-end statement for December 31, 2008, and
the quarterly statements filed in calendar year 2009, at
http://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. DATASOURCE: BizAuctions,
Inc. CONTACT: Delmar Janovec of BizAuctions, Inc., Investor
Relations, 1-800-961-3275, Web Site: http://www.bizauctions.com/
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