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July 12, 2004 Stock Pick: Ableauctions, Inc. (AAC)

Stock Price: $0.62, Inc. uses technology to turn normal live auctions into events that allow for the participation of interested Internet users. The company provides their technology and related services to auction houses, so far conducting over 3,000 auctions. merges the old and the new form of auctioneering. The company's technology has changed auction houses from "brick-and-mortar" establishments to "clicks" and "bricks".

The company reported Q1 revenues of $966,141 on May 14th with net income of $51,923 completing the fifth consecutive profitable quarter. The revenues in Q1 were greater than all of last year's revenue. Q2, 2004 revenues are expected to be over $1.5 million with continued profitability.

AAC has over $6 million in cash and short-term investments and is currently looking into several potential mergers and acquisition opportunities. AAC is about near its low for the year, and currently has little downside risk.

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