SCOTTSDALE, Ariz., Sept. 22 /PRNewswire-FirstCall/ -- Auction Floor, Inc. (Pink Sheets: AFLO) (Frankfurt: ZUI.F), a leading web-based technology provider to the auction industry, has announced the release of the audit reports for the years ended December 31, 2006 and December 31, 2007. We are also releasing an unaudited balance sheet and income statement for the period ended June 30, 2008. In order to receive and review the audited financial statements and the reports of the auditors of the Company for the years 2005, 2006 and 2007, they can be downloaded at:

http://www.auctionfloor.com/main.php?act=tools&hdl=investorrelations



    Below is a summary of financial information contained within the released
reports:

                              Auction Floor Inc.
                       Summary of Financial Information

                     For the Year   For the Year   For the Year   For the Six
                        Ended          Ended          Ended       Months Ended
                     December 31,   December 31,   December 31,     June 30,
                         2005           2006           2007           2008

    Balance Sheet

    Cash              $ 1,101        $ 1,273        $ 35,902        $ 105,768
    Total Assets        6,850        453,606         477,608          616,671

    Accounts payable    4,147         10,046         410,901          216,852
    Total
     Liabilities      382,096         10,046         626,890          261,182

    Total
     Shareholders'
     Equity
     (deficit)     $ (375,246)     $ 443,559      $ (149,283)       $ 355,489


    Operations Statement

    Revenue              $  -          $  30            $  -           $  870

    General and
     Administrative
     Expenses:

    Officers
     Compensation       8,000         28,877         688,410          288,183

    Consulting and
     Professional
     Fees              21,537         12,645         475,018          374,301

    Research and
     Development           -              -          281,404           33,522

    Total Expenses     36,925         59,357       1,812,830        1,149,497

    Interest Income
     and Expense       35,443         35,312           6,794            2,815

    Net Income
     (loss)         $ (72,369)     $ (94,640)   $ (1,819,624)    $ (1,151,443)

Currently the Company is formulating plans to resolve two pressing issues. One is the Company has exhausted its share capital. As a result of the Company's last capital raise, previous management had obligated the Company to issue more common stock then it was authorized to do by the shareholders of the Company. The Company has a current shortfall of approximately 2,673,684 shares of common stock. In addition, currently the Company's liabilities total approximately $413,357 and the Company's current cash resources are unable to fulfill these liabilities. The Company intends to seek financing to cover daily operations, and may attempt to restructure debts owed.

The Company's core technology platform, AuctionManager, a proprietary auction management software solution, enables auction houses, consignors, and sellers to centralize their management for auction events from a single platform.

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 Company's ability to generate audited financial statements in a timely manner, the Company's 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.

SOURCE Auction Floor, Inc.