SOURCE: AmeriResource Technologies, Inc.

April 16, 2008 07:30 ET

AmeriResource Files Form 10-KSB Annual Report and Year-End Results

LAS VEGAS, NV--(Marketwire - April 16, 2008) - AmeriResource Technologies, Inc. (OTCBB: ARRT) 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.

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