OneMove(TM) Reports First Quarter Fiscal 2008 Results



    Company achieves 129% year-over-year revenue growth

    VANCOUVER, Nov. 26 /CNW/ - OneMove Technologies Inc. ("OneMove" or the
"Company") (TSX-V: OM) announces its financial results for the three-month
period ended September 30, 2007. All results are reported in Canadian dollars
unless otherwise stated.

    
    First Quarter Fiscal 2008 Summary
    ---------------------------------
    -   Revenue of $0.5 million, a 129% increase over Q1 2007
    -   Cumulative transactions processed in B.C. increased to approximately
        15,000, compared to approximately 7,000 in Q1 2007
    -   Average daily revenue in B.C. grew to $6,000 from approximately
        $3,000 in Q1 2007
    -   EBITDA(*) (as defined at the end of the release) of $(1.1) million,
        compared to $(1.0) million in the first quarter of 2007
    -   Net loss of $1.1 million, or $0.02 per share, compared to net loss of
        $1.2 million, or $0.11 per share, in the first quarter of 2007
    -   Signed Home Information Pack (HIP) distribution agreement with
        MacDonald Dettwiler and Associates (MDA), the U.K.'s primary HIP
        provider
    -   Completed software integration with Expert Agent, the U.K.'s leading
        real estate agency web-enabled administration system
    -   Launched econveyance 7.0, adding web-based mortgage processing to
        OneMove's offering in B.C.
    

    "Fiscal 2007 was about building a platform for growth, and in Q1 2008, we
began to leverage that platform and deliver measurable results," said Martin
Johnson President and CEO, OneMove. "In B.C. we saw continued rapid adoption
of econveyance with our user base doubling over last year. In the U.K., as a
result of our software integration with Expert Agent, customer sign-ups
significantly increased."
    Johnson continued: "Going forward, we expect this growth momentum to
continue. In B.C. we are working to increase revenue per transaction, by
integrating with other real estate industry service providers to enhance our
overall offering. In the U.K., we remain focused on bringing estate agents
onto our technology platform to drive an increase in transaction volume."

    First Quarter Review
    --------------------
    Revenue for Q1 fiscal 2008 grew 129% to $0.5 million, compared to
$0.2 million for the same period in fiscal 2007. Revenue from Canadian
operations were $0.4 million, and revenue from U.K. operations were $0.07
million, representing a 124% and 163% increase over Q1 fiscal 2007,
respectively.
    During Q1 2008, OneMove processed 15,000 econveyance transactions in
B.C., compared with 7,000 transactions in Q1 of last year, resulting in an
increase in average daily revenue to approximately $6,000, compared to
approximately $3,000 in Q1 of 2007. In the U.K., as a result of the Company's
commercial release of its MMS in the previous year and its software
integration with Expert Agent during the quarter, OneMove realized a
significant increase in customer sign-ups in Q1 2008.
    Total expenses for Q1 fiscal 2008 were $1.7 million, compared to
$1.5 million for fiscal 2007. The year-over-year increase in expenses was
driven by public company costs and increased investment in the Company's B.C.
and U.K. operations.
    EBITDA was $(1.1) million for Q1 fiscal 2008, compared to $(1.0) million
in fiscal 2007. EBITDA for Canadian operations was $(0.02) million, compared
to $(0.3) million in fiscal 2007, and Q1 EBITDA for U.K. operations was
$(0.7)million, relatively similar to $(0.7) million in fiscal 2007. Although
the Company experienced year-over-year improvements in revenue, during the
first quarter OneMove continued to invest in its operations and further
enhancements to its product and service offering in B.C. and the U.K.
Management expects quarterly fluctuations in EBITDA due to the seasonality of
the real estate market.
    For Q1, net loss was $1.1 million, or $0.02 per share, compared to
$1.2 million, or $0.11 per share, in Q1 of fiscal 2007. Operating loss from
Canadian operations was $0.06 million, compared to a loss of $0.5 million for
Q1 fiscal 2007. For its U.K. operations, OneMove's operating loss for the
quarter was $0.8 million, compared to a loss of $0.7 million the prior year.
    Cash and cash equivalents were $2.5 million at September 30, 2007. In
addition, the Company had working capital of $2.0 million at September 30,
2007, compared to $3.0 million at June 30, 2007.
    To view full financial statements and MD&A for OneMove, visit
www.onemovetech.com or www.sedar.com

    (*)EBITDA is used internally by the Company to compare cash operating
resulted from one period to another. EBITDA for the purposes of this analysis
also excludes stock based compensation, shares issued for services and "Other
income/losses" per the financial statements. EBITDA does not have any
standardized meaning prescribed by GAAP and therefore may not be comparable to
similar measures presented by other companies.

    About OneMove Technologies Inc.

    OneMove Technologies Inc. (TSX-V: OM) is a real estate transaction
platform, currently serving the British Columbia, England and Wales real
estate markets. By combining personal service, unique products and leading
edge technology, OneMove(TM) simplifies and expedites the process of buying
and selling real estate. The Company's product and service offerings include:
econveyanceTM in British Columbia, and a Move Management System, Personal
Moving Consultants, Home Buyer Expense Insurance, and the largest free online
real estate listing database in England and Wales. Additional information
about OneMove can be found at www.onemovetech.com or www.sedar.com.

    Forward Looking Statements

    This press release contains certain "forward looking statements." These
statements relate to future events or future performance and reflect
expectations and belief regarding growth, results of operations, performance,
business prospects, opportunities or industry performance and trends. These
forward looking statements reflect current internal projections, expectations
or beliefs and are based on information currently available. A number of
factors could cause actual events or results to differ materially from the
results discussed in the forward looking statements. Although it is believed
that the forward looking statements contained in this press release are based
upon reasonable assumptions, investors cannot be assured that actual results
will be consistent with these forward looking statements. These forward
looking statements are made as of the date of this press release, and OneMove
Technologies Inc. assumes no obligation to update or revise them to reflect
new events or circumstances, except as required pursuant to applicable
securities laws.

    The TSX Venture Exchange Inc. has not reviewed and does not accept
    responsibility for the adequacy or accuracy of this release

    
    ONEMOVE TECHNOLOGIES INC.

                                                 September 30,       June 30,
                                                         2007           2007
    CONSOLIDATED BALANCE SHEETS                    (Unaudited)      (Audited)
    -------------------------------------------------------------------------

    ASSETS

    Current
      Cash and cash equivalents                  $  2,456,588   $  3,877,897
      Receivables                                     236,435        267,386
      Government assistance receivable                  6,727         98,474
      Prepaid expenses and deposits                   151,296         76,010
    -------------------------------------------------------------------------

                                                    2,851,046      4,319,767
    Equipment                                         814,832        843,231
    Intangible asset                                    8,100         10,800
    Long term deposits                                296,307        299,434
    -------------------------------------------------------------------------
                                                 $  3,970,285   $  5,473,232
    -------------------------------------------------------------------------
    -------------------------------------------------------------------------

    LIABILITIES AND SHAREHOLDERS' EQUITY

    Current
      Accounts payable and accrued liabilities   $    576,244   $    877,828
      Deferred income                                  17,594         22,867
      Current portion of loans payable                236,216        434,555
      Current portion of capital
       lease obligations                               38,304         33,528
    -------------------------------------------------------------------------
                                                      868,358      1,368,778
    Loans payable                                     284,871        312,652
    Capital lease obligations                          70,977         72,882
    -------------------------------------------------------------------------
                                                    1,224,206      1,754,312
    -------------------------------------------------------------------------

    Shareholders' equity
      Capital stock                                18,692,624     18,550,451
      Contributed surplus                           1,638,014      1,607,344
      Deficit                                     (17,584,559)   (16,438,875)
    -------------------------------------------------------------------------
                                                    2,746,079      3,718,920
    -------------------------------------------------------------------------
                                                 $  3,970,285   $  5,473,232
    -------------------------------------------------------------------------
    -------------------------------------------------------------------------


    ONEMOVE TECHNOLOGIES INC.
                                                      Three months ended
    CONSOLIDATED STATEMENTS OF                           September 30,
    OPERATIONS AND DEFICIT                       ----------------------------
    (Unaudited)                                          2007           2006
    -------------------------------------------------------------------------

    REVENUES                                     $    497,879   $    217,610
    EXPENSES
      Advertising                                     102,564        160,850
      Amortization of deferred
       development costs                                    -         62,945
      Amortization of equipment                        92,705         27,974
      Amortization of intangible asset                  2,700          2,997
      Commissions and fees                            161,831         51,751
      Consulting fees                                       -         12,980
      Insurance                                        14,395         15,404
      Interest and bank charges                         6,713         14,106
      Interest on convertible loans                         -         54,243
      Interest on loans                                13,673         34,844
      Investor relations and filing fees               48,222          5,097
      Office and general                               87,585         64,816
      Professional fees                                76,992         29,402
      Rent and utilities                               80,396         66,969
      Stock based compensation                         30,670         54,942
      Salaries and wages                              796,885        607,382
      Telephone                                        54,383         79,369
      Travel                                          123,510        135,534
      Web site planning and design                     10,000              -
    -------------------------------------------------------------------------
                                                    1,703,224      1,481,605
    -------------------------------------------------------------------------
    Loss before other items                        (1,205,345)    (1,263,995)
    -------------------------------------------------------------------------

    OTHER ITEMS
      Other income                                     31,024          5,835
      Dividends on preferred shares                         -         (6,000)
      Foreign exchange gain (loss)                     28,637          7,786
    -------------------------------------------------------------------------
                                                       59,661          7,621
    -------------------------------------------------------------------------
    Net loss for the period before
     non-controlling interest                      (1,145,684)    (1,256,374)

    Non-controlling interest                                -         69,493
    -------------------------------------------------------------------------

    Net loss for the period                        (1,145,684)    (1,186,881)
    Deficit, beginning of period                  (16,438,875)    (8,230,384)
    -------------------------------------------------------------------------

    Deficit, end of period                       $(17,584,559)  $ (9,417,265)
    -------------------------------------------------------------------------
    -------------------------------------------------------------------------
    Net loss per common share
      Basic                                      $      (0.02)  $      (0.11)
      Fully diluted                              $      (0.02)  $      (0.11)

    Weighted average number of common shares
      Basic                                        49,902,937     11,149,272
      Fully diluted                                49,902,937     11,149,272
    -------------------------------------------------------------------------


    ONEMOVE TECHNOLOGIES INC.
                                                      Three months ended
                                                         September 30,
    CONSOLIDATED STATEMENTS OF CASH FLOW         ----------------------------
    (Unaudited)                                          2007           2006
    -------------------------------------------------------------------------
    CASH FLOWS FROM OPERATING ACTIVITIES
    Loss for the period                          $ (1,145,684)  $ (1,186,881)
      Items not affecting cash:
        Amortization of deferred
         development costs                                  -         62,945
        Amortization of equipment                      92,705         27,974
        Amortization of intangible asset                2,700          2,997
        Stock-based compensation                       30,670         54,942
        Unrealized foreign exchange                   (21,914)             -
        Accrued interest on convertible loans               -         54,243
        Dividends on preferred shares                       -          6,000
        Non-controlling interest                            -        (69,493)

    Changes in non-cash working capital
      (Increase) decrease in receivables               23,034        (53,849)
      Decrease in government
       assistance receivable                           91,747        210,682
      Increase in prepaid expenses
       and deposits                                   (80,156)       (62,322)
      Increase (decrease) in
       accounts payable                              (255,388)       390,153
      Increase in deferred revenue                     (4,492)             -
    -------------------------------------------------------------------------

    Net cash used by operating activities          (1,266,778)      (562,609)
    -------------------------------------------------------------------------
    CASH FLOWS FROM FINANCING ACTIVITIES
      Convertible loan proceeds                             -        422,500
      Loan proceeds                                         -        685,211
      Loan repayments                                 (77,567)      (112,312)
      Share issuance costs                             (2,627)             -
      Capital lease payments                           (7,864)             -
      Long term deposits                                1,119              -
      Deferred financing fees                               -        (50,995)
    -------------------------------------------------------------------------

    Net cash provided (used) by financing
     activities                                       (86,939)       944,404
    -------------------------------------------------------------------------
    CASH FLOWS FROM INVESTING ACTIVITIES
      Purchase of equipment                           (53,108)      (175,083)
      Long term deposits                               (2,650)             -
    -------------------------------------------------------------------------

    Net cash used by investing activities             (55,758)      (175,083)
    -------------------------------------------------------------------------

    Effect of foreign exchange on cash
     and cash equivalents                             (11,834)             -

    Change in cash and cash equivalents
     during the period                             (1,421,309)       206,712

    Cash and cash equivalents,
     beginning of period                            3,877,897          2,680
    -------------------------------------------------------------------------

    Cash and cash equivalents, end
     of period                                   $  2,456,588   $    209,392
    -------------------------------------------------------------------------
    -------------------------------------------------------------------------

    Cash paid during the period for interest     $     13,673   $     34,844
    -------------------------------------------------------------------------
    -------------------------------------------------------------------------

    Cash paid during the period for
     income taxes                                $          -   $          -
    -------------------------------------------------------------------------
    -------------------------------------------------------------------------
    Supplemental disclosure with respect to cash flows
    

    %SEDAR: 00023118E




For further information:

For further information: Martin R. Johnson, President & CEO, (604)
662-8207 ext 116, martin.johnson@onemovetech.com; Kristen Dickson, Investor
Relations, The Equicom Group, (416) 815-0700 ext 273,
kdickson@equicomgroup.com

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ONEMOVE TECHNOLOGIES INC.

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