|By Marketwired .||
|June 19, 2014 07:10 AM EDT||
LAS VEGAS, NV -- (Marketwired) -- 06/19/14 -- BizAuctions (OTC Pink: BZCN) (PINKSHEETS: BZCN) -- The Company filed a Notice of Corporate Action with FINRA to report an amendment to its articles of incorporation today as required under FINRA guidelines.
Delmar Janovec, BizAuctions' CEO, comments, "The Company filed today with FINRA, Notice of Corporate Action, providing notice the Company will be amending its articles of incorporation with the State of Delaware after receiving consent by more than 80% of the shareholders of the Company, the amendment will decrease its authorized common stock from Twenty Billion (20,000,000,000) to Two Billion, (2,000,000,000), shares with an effective date of July 7, 2014.
"We are currently exploring new corporate opportunities and believe by reducing the authorized common stock the Company will become a more attractive partner/participant in future projects and possible new acquisitions. The reduction of the authorized shares will also bring additional shareholder awareness as we continue to move the Company forward while exploring these new possibilities. Our goal is to identify lucrative opportunities and evaluate each one with the assistance of qualified consultants that could potentially deliver the maximum return to our shareholders."
BizAuctions is a prime provider of commercial liquidation services for excess inventory, overstock items, and returns. Our clients have included some of the Nation's leading retail names at the forefront of their industries.
We provide our clients with a new sales channel to generate additional revenue on excess inventory, while at the same time freeing up their valuable storage and retail space.
With a long-term strategy to provide liquidation services to Fortune 1000 enterprises, BizAuctions is a clear solution for most any business to liquidate its excess inventory.
The Company encourages the public to read the above information in conjunction with its year-end statement for December 31, 2013, and the quarterly statements filed in calendar year 2014, at www.PinkSheets.com.
The information contained in this press release may include forward-looking statements. Forward-looking statements usually contain the words "may," "could," "possibly," "feel," "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 services, competition, limited service facilities, dependence on technological developments and protection of its intellectual property. The Company's actual results could differ materially from those discussed herein.
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