Ableauctions.com has announced today that it has purchased back in excess of 5.6 million shares of its own stock since initiating the stock purchase program in July 2007. Of the 5.6 million shares purchased, approximately 4.6 million shares have been cancelled and returned to the authorized shares of the Company reducing the total outstanding to 60,752,641.

The Company intends to continue purchasing its shares back in the market from time to time at the Company’s discretion with currently available cash reserves for the purpose of cancellation. No specific number of shares or dollar value has been established by the Company.

Posted: 04|22|08 at 3:37 pm. Filed under: Auction News.