SOURCE: AmeriResource Technologies, Inc.

May 01, 2008 06:20 ET

AmeriResource Update: BizAuctions Revenues for April 2008 Increase by 176%

LAS VEGAS, NV--(Marketwire - May 1, 2008) - AmeriResource Technologies, Inc. (OTCBB: ARRT), a diversified holding company announced today that its subsidiary, BizAuctions, Inc., (PINKSHEETS: BZCN), a prime provider of commercial eBay liquidation services, April revenues (unaudited) for its subsidiary, BizAuctions, Inc., increased by approximately 176% over revenues for the same period in 2007.

"For the month ending April 30, 2008, revenues (unaudited) of approximately $315,146 showed growth of 176% for an increase of $201,008 from $114,138 in revenues for the corresponding month in 2007. Sales outside of eBay contributed $56,000 of the $315,146 in revenues for the month of April. BizAuctions provides quality brand merchandise at a discount over retail pricing which appeals to all buyers, particularly in a slowing economy. BizAuctions' eBay business model continues to show steady growth and it is clear that American companies are in need of commercial liquidation services," noted Delmar Janovec, CEO of AmeriResource.

The company continues to make considerable progress in reducing costs, increasing gross profits, and is very close to realizing net profits on a consistent basis. BizAuctions' revenues have increased substantially over the last several quarters as follows:

Quarter Ended             Revenue
--------------------    ------------
  9/30/06               $    192,097
 12/31/06               $    223,123
  3/31/07               $    326,906
  6/30/07               $    438,764
  9/30/07               $    971,965
 12/31/07               $  1,023,756
  3/31/08               $  1,034,000 (preliminary & unaudited)

"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," continues Janovec.

BizAuctions' 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.

BizAuctions' operations are designed for maximum capacity to handle most any eBay liquidation project. Whether the client is a Fortune 500 company with 1,000 items or a small business with 100 items, BizAuctions can take on most any project and recover funds from clients' excess inventory.

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/tour.shtml.

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's for calendar year 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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