SOURCE: Auction Floor, Inc.

May 15, 2007 02:00 ET

Auction Floor, Inc. Retains Premier Investment Banking Firm

SCOTTSDALE, AZ -- (MARKET WIRE) -- May 15, 2007 -- Auction Floor, Inc. (PINKSHEETS: AFLR) (FRANKFURT: ZUI) (the "Company"), a leading marketer and provider of proprietary live auction software solutions to the auction industry, today announced the Company has entered into an Investment Banking and Financial Advisory Agreement with American Capital Partners, LLC "ACP," a New York-based investment bank and financial advisor.

Under the terms of the agreement, ACP will act as the Company's financial advisor for financings, business strategy, and strategic acquisitions.

"We are very pleased with the strategic counsel received from ACP to date, and their understanding of management's vision for the near and long term execution of its business plan," said John Chaloner, the Company's CFO. "Their proficiency in corporate finance and expertise in working with small emerging growth companies is proving to be a great fit for Auction Floor and will enable us to align our capital requirements with a disciplined growth strategy."

The Company has undertaken a series of strategic steps to prepare for future financings including its upcoming registration and filings to obtain an OTB listing.

Through its web site, www.auctionfloor.com, the Company attracts more bidders using special tools similar to those of timed auctions at eBay. With its distinctive "Bid Now" button, bidders can participate in the real-time progression of prices as if they were on the auction floor.

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:
    Auction Floor, Inc
    Investor Relations
    602-377-6388
    Email Contact