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Auctionbytes-NewsFlash, Number 1777 - April 25, 2008 - ISSN 1539-5065
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Ableauctions, Bidz.com Provide Stock Buy-Back Update
By Ina Steiner
AuctionBytes.com
April 25, 2008
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Ableauctions.com announced it has purchased back in excess of 5.6 million shares of its own stock since initiating the stock purchase program in July 2007. Of the 5.6 million shares purchased, approximately 4.6 million shares have been cancelled and returned to the authorized shares of the company reducing the total outstanding to 60,752,641. Ableauctions.com said it intends to continue purchasing its shares back in the market from time to time. Ableauctions.com Inc. is a liquidator and online-auction facilitator that operates the domains iCollector.com, Naalive.com and Unlimited Closeouts.com.
http://www.ableauctions.com
Bidz.com announced that as of April 22, 2008, it has repurchased a total of approximately 817,000 shares of its Common Stock in the open market for a total of $6.8 million, at an average price of $8.38 per share. After the company successfully retires all of the shares it has repurchased to date, the total number of issued and outstanding Company Common Stock will be 23.74 million. Bidz.com also said that it will continue to repurchase in the open market under the stock repurchase program. It also announced that it currently has a zero balance outstanding on its credit line of $25 million with Bank of America.
http://www.bidz.com
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