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Quote:AUCTIONCITIES, INC. ISSUES CORRECTION AND CANCELS TRANSACTION WITH AUCTION VIDEO, INC.

Misstatement of information supplied by Auction Video Prompts AuctionCities to Apologize to SANYO.

VALENCIA, CA, Jan. 21 -- In a series of unfortunate events, AuctionCities.com, Inc. (OTC: AUCC) finds itself a victim of misstatement of information and subsequently, was forced to cancel its relationship with Auction Video, Inc. due to a statement issued Friday, over BUSINESS WIRE (TOKYO – Jan. 19, 2006) by Sanyo Electric Co., Ltd. Spokesperson, Ryan Watson, denied the licensing agreement between NTT-DATA SANYO and Auction Video, Inc. In yesterday’s release, Watson stated, “NTT-DATA SANYO SYSTEM has absolutely no business with…AuctionVideo.com.”

Details of the AuctionCities.com announcement from the Sanyo Booth at the recent Consumer Electronics Show, as communicated by Auction Video, are denied by NTT_DATA SANYO. Thereby, the terms of the AuctionCities.com, Inc. and Auction Video, Inc. transaction are cancelled.

Statements in AuctionCities.com press releases (MARKET WIRE - Jan. 5, 7, 13, 2006) as represented by Auction Video, Inc. to AuctionCities.com, Inc. as valid, appear to have been unapproved by persons unknown to AuctionCities.com, Inc. at the time of the press releases. Therefore, the following points, while they occurred on January 5, 2006, are no longer valid:

   1. The new SANYO VideoCellphone was officially unveiled at CES.
   2. An exclusive licensing agreement does not exist with NTT-DATA SANYO and Auction Video.com.
   3. The NTT-DATA SANYO Video Communications Cell Phone schedule for U.S. rollout is unknown.
   4. No agreement currently exists, whereby AuctionCities.com will be the exclusive U.S. Internet distributor of this exciting new device.

While AuctionCities.com, Inc. apologizes for any embarrassment, because photographic and video evidence exists, we cannot deny statements and events that actually happened in the historical chronology of Jan 5, 2006.

Additionally, in the (Jan. 5, 2006) AuctionCities.com news release, a comment reported and furnished by Auction Video attributed to NTT-DATA SANYO, seems to have been fabricated and distributed by someone other than AuctionCities.com, Inc. It has, recently, been reported to AuctionCities that said person and department do not exist.

AuctionCities.com, Inc. CEO, Michael S. Berman stated, “I apologize for the afore-mentioned news releases which were, evidently and absolutely, not based on facts, as reported to AuctionCities.com, Inc. I regret the embarrassment caused to Sanyo and those associated with Auctioncities.com, including Market Wire, our members and shareholders. We rely on the integrity of our business associates and up to this point, our “due diligence inquiries” have not presumed to venture beyond the information provided by our proposed partners. In the future, in order that this sort of information delivery doesn’t cause harm, we will take the utmost caution regarding information disclosure.”

full press release: http://www.auctioncities.com/index.php?p...om/news20/

Auctioncities stock price has fallen to 6 cents per share from the 26 cents it reached following the January 13th press release.

AuctionCities.com Wrote:Misstatement of information supplied by Auction Video Prompts AuctionCities to Apologize to SANYO.

mileyyoyo:

mandy Wrote:Auctioncities stock price has fallen to 6 cents per share from the 26 cents it reached following the January 13th press release.

Quote:up to this point, our “due diligence inquiries” have not presumed to venture beyond the information provided by our proposed partners.

ME: I have a bridge for sale.  Want to buy it?
THEM: OK

Finding time to do due diligence is hard when you spend 99% of your waking hours bullshi.tting

First press release in a month since their January press release retraction fiasco.

Photo of the new service complete with blond  : http://biz.yahoo.com/iw/060301/0111700i.html

Quote:AuctionCities.com (www.auctioncities.com) announces the launch of its 2006 Mobile Device Initiative. As of today, the in-house developed, fully functional, mobile-optimized technology is operational. Now, using the AuctionCities.com site (www.myaucc.com) from any Internet activated mobile device will be faster, more convenient and more fun...

Among the features of the site is the "AuctionCities Wish List" (see the MY CITY link on the top of the AuctionCities.com Homepage) feature. Buyers fill out a form listing items for which they are shopping. If a seller lists an item that matches the description of an item for which the buyer is looking, AuctionCities.com will send the buyer an SMS and email message directly to their cell phone and computer, alerting members that the item is available.

In keeping with "Shop Your Zip-code," the local focus feature of AuctionCities.com, the buyer can specify the distance in miles from their home location for items they have listed. As soon as that item is listed, their cell phone or mobile device will notify them of the immediate availability. If a member is traveling, the buyer can enter the area code of their current locations and find items from their wish list in the area they are visiting...

According to Mr. Berman, "The Mobile Initiative Project is now activated. This mobile version of AuctionCities.com is a fully functional version of the website found on the Internet. Buyers will be able to search for items they need. AuctionCities.com will send alerts to buyers' mobile devices when a new item from their 'wish list' is posted. Also, they will be able to bid and receive auction ending notices and outbid notices. Now, buyers don't have to sit around the house, waiting for such notices.

full press release: http://biz.yahoo.com/iw/060301/0111700.html