SOURCE: AmeriResource Technologies, Inc.

November 29, 2007 11:43 ET

AmeriResource Revenue Increases 308% for the Third Quarter

LAS VEGAS, NV--(Marketwire - November 29, 2007) - AmeriResource Technologies, Inc. (OTCBB: AMRE), a diversified holding company, announced today that it has filed its financial statements for the third quarter ended September 30, 2007 when revenues more than quadrupled, reporting a 308% revenue increase over the same quarter last year.

"For the third quarter, AmeriResource revenue rose to $1,066,598, a 308% increase over revenue of $261,154 the same quarter one year ago. We are pleased with the triple digit revenue growth for this quarter, and expect to report strong revenue for the fourth quarter as well," noted Delmar Janovec, CEO of AmeriResource.

"As we move forward, management will continue to work diligently to grow revenues and improve margins. While the company has not achieved profitability, we have seen strong revenue growth and will continue working hard on the operations of our subsidiaries," Janovec added.

To review the third quarter financial statements on file with the Securities and Exchange Commission, please visit

The company also announced that a one-for-fifty reverse split of its common stock is planned to become effective as of market open on Friday, December 7, 2007. All fractional shares will be rounded up to the next whole share, and the percentage ownership interest of all existing shareholders will essentially remain the same.

Janovec noted, "The Board and management believe this reverse stock split is in the best interest of the Company and its shareholders. We believe this will enhance the Company's flexibility with regard to matters that may be identified from time to time such as financing, employee compensation, potential acquisitions, strategic business relationships, and the expansion of our subsidiaries such as RoboServer Systems Corp. and BizAuctions, Inc."

The Company encourages the public to review the information contained herein in conjunction with financial statements such as its Form 10-KSB for December 31, 2006, as well as the subsequent quarterly financial statements for 2007. These financial statements can be viewed at


AmeriResource is a diversified holding company with headquarters in Las Vegas, Nevada. Among others, it operates BizAuctions, Inc., AuctionWagon Inc., and RoboServer Systems Corp. as subsidiaries. For more information on the Company and its subsidiaries, please see the Company's website at

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 The Company will provide you with copies of this information upon request.

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