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property for sale in paphos polis cyprus
News and Information Article
CALGARY, Nov. 2 /-FirstCall/ - Zaio Corporation (TSX-V:ZAO)
announced today it sold 150 licenses in October to licensed real estate
appraisers in California, including the cities of Los Angeles, Irvine, San
Jose, San Francisco, and Oakland. Proceeds from the sales will be
approximately $1.2 million and were more than double the previous months
volume of 60 license sales.
In July of this year Zaio announced its plans to rapidly expand its
business throughout the United States. Thomas Inserra, CEO of Zaio stated:
"This is the fourth consecutive month Zaio has delivered strong sales
results, which demonstrates a high level of demand for Zaios solutions
among appraisers. Appraisers interested in improving their quality and
pre-appraising homes without lender pressure are licensing Zaios software
at a rapid pace. In fact, Zaio has now sold out all of the available
software licenses in more than 160 U.S. cities and 50 counties. Zaios goal
of helping appraisers inspect and appraise virtually every home in America
remains on track and within reach."
Rod Mitton, Zaio CFO was also pleased with the sales results, and
stated: "Zaio has been cash-flow positive since August. In fact, the
Company currently requires less than 25 license sales per month to fund our
monthly overhead, and sales above that amount allow us to accumulate a
short-term cash reserve. We anticipate ending the year with a significant
cash balance, which should allow us to fund and accelerate our growth
throughout 2007." Mr. Mitton also disclosed that shareholders and
interested investors are welcome to participate in our upcoming quarterly
results conference call and sign-up for our newsletter that keeps investors
informed of our activities. More information about the quarterly results
conference call and newsletter are available on Zaios website at:
http://www.Zaio.com under the "Investor" section.
About Zaio: Zaio is a public corporation that trades under the symbol
"ZAO" in Canada, but U.S. investors might also find information under the
symbol "ZAOFF". Zaio and its network of appraisers photograph and appraise
entire cities, one building at a time from the street. It is the only known
company in the world that develops and maintains a site-verified database
of photos, valuations, and property information of virtually every property
in entire cities, using a proprietary "GeoScore" property rating system.
For more information visit http://www.zaio.com
The TSX-V has not reviewed and does not accept responsibility for the
adequacy or accuracy of this press release.
This press release contains forward-looking statements which may
include financial and business prospects, as well as statements regarding
the Companys future plans, objectives or economic performance and
financial outlooks. In particular, Zaios order volume refers to sales that
have not yet fully closed, are subject to receipt of future payment, and
revenues may not be booked by Zaio until all sale obligations have been
completed, and thus these statements are forward-looking in nature. Such
statements are subject to risk factors associated with the real estate
industry, and the overall economy in both Canada and the United States
including: Zaios receipt of final payment by appraisers, successful
completion of an appraiser background check, and completion of Zaios
future collection of photos and property data and assimilation into Zaios
database. The Company believes that the expectations reflected in this
press release are reasonable, but actual results may be affected by a
variety of variables and may be materially different from the results or
events predicted in the forward-looking statements. Readers are therefore
cautioned not to place undue reliance on these forward-looking statements.
In evaluating forward-looking statements readers should consider the
risk factors which could cause actual results or events to differ
materially from those indicated by such forward-looking statements. These
forward-looking statements are made as of the date hereof, and unless
otherwise required by applicable securities laws, the Company does not
intend nor does it undertake any obligation to update or revise any
forward-looking statements to reflect subsequent information, events,
results or circumstances or otherwise.
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