SOURCE: Auction Floor, Inc.

May 09, 2008 09:30 ET

Auction Floor Elects New Chairman

Board Member Ron Erickson Assumes Additional Role

SCOTTSDALE, AZ--(Marketwire - May 9, 2008) - Auction Floor, Inc. (PINKSHEETS: AFLO) (FRANKFURT: ZUI.F) a leading web-based technology provider to the auction industry, announced today that board member Ron Erickson has been elected to the position of Chairman of the Board and Chairman of the Company's newly formed Executive Committee of the Board.

Erickson, of Seattle, WA, a seasoned business executive and entrepreneur, has been involved in the creation and building of a number of technology companies in the personal computer, internet and telecommunications industries, including MicroRim, Egghead, GlobalTel, eCharge and Blue Frog Media. In addition, Erickson, also an attorney, has been instrumental in bringing corporate governance, strategic insight and capital contacts to the several companies on whose boards he has served.

Lou Sagar, Auction Floor President and CEO, stated, "We are very pleased to have a businessman of Ron Erickson's caliber and experience assist us as we build our infrastructure and take Auction Floor to the next level. We are thrilled to have Ron more deeply involved in the Company."

Regarding his appointment, Erickson said, "Auction Floor has a unique opportunity to take advantage of the growing demand for internet based live auctions. I am very excited to work with Auction Floor and help them build a world class organization."

The Company's AuctionManager, a proprietary auction management software solution, enables auction houses, consignors, and sellers to centralize their management for auction events from a single platform. The Company is marketing its network and product offering through multi-channel promotions, including print and web-based advertising. Please visit the Company's website at www.auctionfloor.com.

If you would like to receive Auction Floor news via email please notify us at info@auctionfloor.com.

CAUTIONARY STATEMENTS

This document does not constitute an offer to sell or a solicitation of an offer to buy any of our securities. This document contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements may include projections of matters that affect revenue, the ability to develop or license certain technologies; operating expenses or net earnings; projections of capital expenditures; projections of growth; hiring plans; plans for future operations; financing needs or plans; plans relating to the company's products and services; and assumptions relating to the foregoing. Forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified. Future events and actual results could differ materially from those set forth in, contemplated by, or underlying the forward-looking information.

Contact Information

  • Contact:

    Jeff Forster
    Investor Relations
    Auction Floor, Inc.
    877-282-3567