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Oct 5, 2016 5:30 EST

Penny Auction Solutions, Inc: A penny auction company where members can “pay to play’ in order to participate in any of our live auctions that feature new merchandise or services.

iCrowdNewswire - Oct 5, 2016

Penny Auction Solutions, Inc Logo

Penny Auction Solutions, Inc

San Diego, CA 92103, US
Retailing
www.pennyauctionsolutions.com

We are a penny auction company where members can “pay to play’ in order to participate in any of our live auctions that feature new merchandise or services. This new form of shopping entertainment is truly exhilarating, addictive game play.

Even though auctions of all types have been around for thousands of years, there is a new kind of auction that is taking the world by storm. It’s called the “Penny Auction.” Penny Auctions combine the thrill of online shopping with gaming and intense bidding, to form a highly captivating and enriching experience.

Users can register and purchase “bid packs” for the right to bid on any auction(s). Like other auctions, there is a time element. The clock starts ticking down on an auction from a set time point and once the timer reaches “zero”, the highest bidder of that auction wins the featured item.

Penny Auctions are very entertaining and addictive because unlike eBay or other auction sites, Penny Auctions happen in a matter of hours or minutes, instead of weeks or months. The attraction of Penny Auctions is easily understood. In this economy, where many people are forced to “do without,” Penny Auctions give them a chance to get that new luxury item they couldn’t otherwise afford. For a fraction of the cost (literally pennies on the dollar), they have a chance to get that television, laptop, purse, iphone, jewelry, gift card, high end consumer item and even automobiles. It is possible to win an auction and receive up to a 99% discount on name brand merchandise. Our current plan is to only sell new and shrink-wrapped merchandise.

We have filed our Form 10 registration statement in 2015 for registration of our Common Stock with the Securities and Exchange Commission (SEC). We also obtained an effective 15c11 and was issued the ticker symbol of PAUC. See milestones under Summary in the Plan section for more details on our path to be become a publicly traded company.

Products / Services

General, high demand, consumer products and services

We are an online penny auction company that offers a wide variety of auctions consisting of items such as electronics, home appliances, jewelery, vacation packages, gift cards, and sporting equipment.

 

Management

Chief Executive Officer
Micheal Holt

Mr. Holt has extensive experience in startup operations with 25 years of operations management experience and an emphasis in sales and marketing initiatives in working with small to mid-size firms. He had owned and operated a nationwide seminar and event planning company as well as a real estate auction and investment company in San Diego, CA. Mr. Holt also offers his expertise to business owners through personal consulting services where he teaches strategies on starting and building a successful business. For over 18 years of his career, he worked for several fortune 1000 companies in a management and IT capacity for firms such as General Electric, Management Insights, Systems and Computer Technology, and Harcourt Trade Publishers where he held such titles as CEO and COO and Senior VP. Mr Holt is now serving as CEO of Penny Auction Solutions, Inc.

Chief Financial Officer
Bob van Leyen

Mr. Van Leyen is an accomplished CFO with 40 years of global experience providing financial and operational support to all levels of management in sales, marketing, R&D, and manufacturing organizations. He has managed large and small teams in Finance, Operations and has been a General Manager in the computer equipment, software tools and networking equipment business based in Europe, Asia and USA, establishing a strong global network. He is very experienced in running Corporate CFO, Treasurer, Audit as well as field teams as a VP of Finance/CFO, Director of Finance, Operations Director and General Manager in both public and private companies. He is fluent in Dutch, English, German and French. In 2013 he joined both the Board of Ramona’s Mexican Food Products, Inc. as well as the Pan American Bank (a community bank in Los Angeles) as a director. He has also been a director on the board of Legrand Software Inc., a privately held CRM software company for the last 6 years.

Summary

Prior Year Revenue Current Year Revenue Next Year Revenue

 

Company Age Employees Sub-Industry
6 years 4 Other Retailing

 

Company Type Stock Exchange Stock Symbol
Publicly-Traded OTCBB PAUC
Contact Information:

Micheal Holt

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