NEW YORK, April 3 /PRNewswire-FirstCall/ -- Auction Floor, Inc. (Pink Sheets: AFLO) (Frankfurt: ZUI.F), a leading provider of auction technology and e-commerce solutions announced today that it has finalized an asset purchase agreement to acquire certain assets of e-Scrap Destruction, LLC. Their web site can be located at http://www.escrapdestruction.com. E-Scrap is a regional leader in the recycling of e-waste and the handling of excess inventory and returns. E-Scrap is an innovator in the utilization of environmentally-friendly green technologies for electronics and other product categories. The closing of the asset acquisition is subject to standard due diligence, board approval of both parties and the closing of a financing concurrent with the acquisition. There is no guarantee that we will be able to close the acquisition.

"There is increasing demand by marketers, manufacturers and municipalities to generate improved efficiency, accountability and liquidity from the environmentally friendly and secure disposition of surplus and after market inventory assets. We believe this acquisition will leverage our auction technology platform and enable the combined entity to provide a fast-growing market with a fully integrated range of services," noted Lou Sagar, CEO of the Company.

Matthew Skidell, CEO of e-Scrap, who is expected to be appointed as CEO of Auction Floor upon closing of the asset acquisition, stated, "E-Scrap is very excited about this new relationship and is prepared to become the leader in excess inventory sales and disposal while maintaining and growing our e-cycling business and helping to protect and preserve the environment for future generations."

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:     Investor Relations
                 Auction Floor, Inc.
                 info@auctionfloor.com
                 212-925-1267

SOURCE Auction Floor, Inc.