AmeriResource Files Form 10-KSB Annual Report and Year-End Results
April 16 2008 - 7:30AM
Marketwired
LAS VEGAS, NV President and CEO Mr. Delmar Janovec announced the
Company has filed with the Securities and Exchange Commission the
Company's 2007 Annual Report on Form 10-KSB. The Report, which
includes the Company's audited financial statements for the year
ended December 31, 2007, is available at www.sec.gov.
The Company is pleased to report that revenues for the 12 months
ended December 31, 2007, were $3,082,769, an increase of $2,190,345
or 245%, from $892,424 for the calendar year 2006. The net loss
after all accounting adjustments was ($1,375,928) for the 12 month
period ended December 31, 2007, from a net loss of ($2,331,532) for
the period ended December 31, 2006. The increase in revenues
reflects the growth of its operating subsidiaries, BizAuctions,
Inc., RoboServer Systems Corp., and AuctionWagon, Inc. The
additional revenues to be generated from the expanded operations of
its subsidiary's, BizAuctions', eBay liquidation business model,
based upon estimated and unaudited reports for the first quarter of
2008, indicate record revenue growth year-to-year, which will allow
the Company to reduce the amount of net losses for the year ended
2008.
During 2008 the emphasis for the company will be "the growth and
expansion of its subsidiary's, BizAuctions', eBay liquidation
business model into states outside of California & Arizona,
further development and sales of RoboServer's latest products under
the iOrder and Linebuster trade names, and new software
developments and applications in Auction Wagon's software, Store
Manager G2-the end-to-end solution, for the eBay business platform.
Based upon our growth and progress achieved in calendar year 2007,
we believe the Company and its subsidiaries will make significant
progress towards profitability on a consolidated basis during
2008," comments Janovec.
The Company encourages the public to read the above information
in conjunction with its year-end 10-KSB for December 31, 2007, and
the Quarterly 10-QSB statements for the 1st, 2nd and 3rd Quarters
of 2007. The financial statements can be viewed at www.sec.gov.
ABOUT AMERIRESOURCE: AmeriResource is a diversified holding
company with headquarters in Las Vegas, Nevada. It operates
BizAuctions, Inc., www.bizauctions.com, RoboServer Systems Corp.,
www.roboservercorp.com, and AuctionWagon, Inc.,
www.auctionwagon.com, among others, as operating subsidiaries. For
more information on the Company and its subsidiaries, please see
the Company's website at
http://www.ameriresourcetechnologies.com.
The information contained in this press release may include
forward-looking statements. Forward-looking statements usually
contain the words "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 products, competition, limited service and
manufacturing facilities, dependence on technological developments
and protection of its intellectual property. The Company's actual
results could differ materially from those discussed herein.
Factors that could cause or contribute to such differences are
discussed more fully in the "Risk Factors," "Management's
Discussion and Analysis or Plan of Operation" and other sections of
the Company's Form 10-KSB and other publicly available information
regarding the Company on file with the Securities and Exchange
Commission, at www.sec.gov. The Company will provide you with
copies of this information upon request.
Contact: AmeriResource Technologies Inc. Delmar Janovec (702)
214-4249 Email: Email Contact
http://www.ameriresourcetechnologies.com
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