Ableauctions Completes Development of Point-of-Sale Software

Tuesday 23 March 2004 17:07 CET | News has completed the development of its single-user Windows based Point-of-Sale software and has commenced installation of the software into existing sites. An extended version of the software, with enhanced features and multi-user capabilities, and eBay uploads is expected to follow shortly.

The Company, for the most part, realizes revenue from the following streams: Auction Broadcast Services -- broadcast of live auctions over the Internet using its own technology ( or eBays Live Auction technology, and related products, development, catalogue production and auction services ( Point-of-Sale (POS) and Hardware Services -- the sale, installation and support of its Point-Of-Sale (POS) software, development, support and maintenance of auction websites, custom hardware and network configurations, services provided through its recently acquired subsidiary Rapidfusion Technologies Inc. ( Liquidation Services -- the sale of merchandise through its liquidation stores or auctions, and the fees realized from inventory brokerage services through its and Unlimited Closeouts operations. In 2003, the Company realized approximately 38% of its revenues from Auction Broadcast Services, 30% though POS and Hardware Services and 32% through Liquidation Services. With the primary objective of becoming the leading provider of Auction Broadcast services, management believes the success of the Company relies on its ability to deploy its technology and services to the estimated 12,000 auctioneers across North America. Management believes that the Integrating of POS technology with Internet broadcasting capabilities to develop an auction technology suite that specifically caters to auctioneers and liquidators may bring the Company one step closer to its objective. The technology suite under current development is designed to enable auctioneers and liquidators to: -- Broadcast live auctions over the Internet -- Manage the back-end of auction operations -- Schedule, upload and broadcast auctions seamlessly to either run on eBay Live Auctions or on the Companys proprietary technology. -- Integrate auction operations with Point-of-Sale (POS) software that enables users to manage a bricks-and-mortar liquidation store as well upload inventory to be sold on either eBay core or eBay Live Auctions, making it one of the first POS systems capable of such. The software is to manage and track inventory, assets and consigned products, for both virtual and bricks-and-mortar stores. The Company has long believed that the option for retail stores to upload surplus inventories seamlessly to eBay or Ableauctions broadcast technology will be met with a positive reaction.

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Categories: Payments & Commerce | Payments General
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