OneMove(TM) Reports Fiscal 2007 Year End Results



    Company achieves 183% year-over-year revenue growth

    VANCOUVER, Oct. 29 /CNW/ - OneMove Technologies Inc. ("OneMove" or the
"Company") (TSX-V: OM) announces its financial results for the three- and
12-month periods ended June 30, 2007. All results are reported in Canadian
dollars unless otherwise stated.

    
    Fiscal 2007 Summary
    -------------------
    -   Revenue of $1.2 million, a 183% increase over fiscal 2006
    -   Average daily transactions in B.C. increased from approximately 7,000
        in the first quarter to 13,000 in the fourth quarter
    -   Average daily revenue in B.C. grew from approximately $3,000 in the
        first quarter to approximately $5,000 in the fourth quarter
    -   EBITDA(*) (as defined at the end of the release) of $(4.7) million,
        compared to $(1.8) million in fiscal 2006
    -   Net loss of $6.2 million, or $0.28 per share, compared to net loss of
        $4.2 million or $0.38 per share in fiscal 2006
    -   Listed on the TSX Venture Exchange, completed $2.0 million brokered
        private placement
    -   Completed Acquisition of OneMove Limited in the U.K.
    -   Launched Home Buyer Expense Insurance, in partnership with HSBC, in
        the U.K.
    -   Launched U.K.'s fastest growing free property listing web portal
    -   Completed $8.0 million brokered private placement
    -   Signed integration agreement with U.K.-based WebSky, completed
        integration of Expert Agent software and OneMove's MMS subsequent to
        year end
    

    "Our focus for fiscal 2007 was laying a foundation for growth," said
Martin Johnson, President and CEO, OneMove. "We listed on the TSX Venture
Exchange, completed $10.0 million in private placements to provide us with the
capital necessary to fund our growth initiatives, and expanded into the U.K.
through our acquisition of OneMove Limited. As the year progressed, we
transitioned our Move Management System (MMS) in the U.K. from development to
commercialization, and during the fourth quarter we saw a notable increase in
customer leads. In B.C., we enhanced our econveyance(TM) offering and
commenced a marketing campaign in partnership with the B.C. Land Title Office
to promote electronic filing, which resulted in the doubling of our customer
base over last year."
    "Looking forward, with most of our core operational developments now
behind us, we are well positioned to focus on advancing our product and
service offerings, enhancing our sales and marketing, and expanding our
customer base in B.C. and the U.K. The real estate industry is moving toward
paperless transactions, and with our econveyance, MMS and Personal Moving
Consultant (PMC) offerings, OneMove is at the forefront of that shift."

    Fiscal 2007 Review
    ------------------
    Fiscal 2007 revenues grew by $0.8 million, or 183% to $1.2 million,
compared to $0.4 million for fiscal 2006. Revenues from Canadian operations
were $1.0 million, a year-over-year increase of 134%, and revenue from U.K.
operations were $0.2 million, compared to $58,000 in fiscal 2006. Overall,
revenue improved as a result of the combined growth of the Company's Canadian
and U.K. operations.
    In B.C., the combination of OneMove's marketing efforts and the strength
of the B.C. real estate market drove a steady increase in econveyance
transactions throughout fiscal 2007. During the year, average daily
transactions increased significantly from 7,000 during the first quarter to
13,000 in the fourth quarter. Average daily revenue increased from
approximately $3,000 in the first quarter to approximately $5,000 in the
fourth quarter.
    In the U.K., as OneMove strengthened its presence in the England and
Wales real estate market by transitioning its MMS from beta to
commercialization, the Company saw growth in the adoption rate of its
services. In addition, in fiscal 2007, OneMove enhanced its offering with the
introduction of its Home Buyers Expense Insurance (HBEI). To drive the growth
of its estate agent network, the Company launched the U.K.'s fastest growing
free property listing portal.
    Total expenses for fiscal 2007 were $7.4 million, compared to
$3.1 million for fiscal 2006. The year-over-year increase in expenses was
driven by public company costs, as a result of OneMove's listing on the TSX
Venture Exchange in October, and increased investments in the Company's
growing B.C. and U.K. operations.
    EBITDA was $(4.7) million for fiscal 2007, compared to $(1.8) million in
fiscal 2006. The year-over-year change reflects investment in current
operations and infrastructure to support future growth. EBITDA for Canadian
operations was $(0.6) million, compared to $(1.1) million in fiscal 2006, and
EBITDA for U.K. operations was $(3.3) million, compared to $(1.7) million in
fiscal 2006.
    For fiscal 2007, net loss was $6.2 million or $0.28 per share, compared
to $4.2 million or $0.38 per share in fiscal 2006. Fiscal 2007 net loss from
Canadian operations was $1.3 million, compared to a net loss of $3.7 million
for fiscal 2006. For OneMove's U.K. operations, net loss for the year was
$3.7 million, compared to a loss of $1.8 million in the prior year.

    Fourth Quarter Review
    ---------------------
    Revenues for the fourth quarter of fiscal 2007 grew by $0.2 million, or
152% to $0.4 million, compared to $0.2 million for the same period in fiscal
2006. Revenues from Canadian operations for the fourth quarter were
$0.4 million, a quarter-over-quarter increase of 157%. Revenues from U.K.
operations were $0.03 million, a quarter-over-quarter increase of 113%. During
the fourth quarter, OneMove processed 13,000 econveyance transactions in B.C.,
compared to 6,000 transactions in the fourth quarter of last year, resulting
in a daily average revenue increase of approximately $2,500 over daily average
revenue of approximately $2,500 in the fourth quarter of 2006. In the U.K.,
the Company moved beyond the beta testing stage of its MMS, resulting in a
significant increase in the adoption of its services.
    OneMove's fourth quarter revenues tend to be higher compared to other
quarters, due to the seasonality of the real estate market. The largest number
of home buying and selling transactions occur between April and June.
    Total expenses for the fourth quarter of fiscal 2007 were $2.2 million,
compared to $1.1 million for fiscal 2006. The quarter-over-quarter increase in
expenses was driven by public company costs and increased investments in the
Company's B.C. and U.K. operations.
    EBITDA was $(1.4) million for fourth quarter fiscal 2007, compared to
$(0.7) million in fiscal 2006. EBITDA for Canadian operations was
$0.2 million, compared to $(0.05) million in fiscal 2006, and fourth quarter
EBITDA for U.K. operations was $(0.9) million, compared to $(0.7) million in
fiscal 2006. Although the Company experienced quarter-over-quarter
improvements in revenues, during the fourth 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 the fourth quarter, net loss was $1.8 million or $0.05 per share,
compared to $0.8 million or $0.09 per share in the fourth quarter of fiscal
2006. Fourth quarter fiscal 2007 net loss from Canadian operations was
$0.05 million, compared to a net loss of $0.2 million for fourth quarter
fiscal 2006. For OneMove's U.K. operations, net loss for the quarter was
$1.0 million, compared to a loss of $0.7 million the prior year.
    Cash and cash equivalents were $3.9 million at June 30, 2007, primarily
reflecting the proceeds from the brokered private placements OneMove completed
in May 2007. In addition, the Company had working capital of $3.0 million at
June 30, 2007, compared to $(1.1) million at June 30, 2006.

    Subsequent to Year End
    ----------------------
    Looking ahead, OneMove is committed to growing its customer base,
enhancing its offering and attracting strategic partners that offer
complementary products and services.
    In B.C., the Company will continue on its joint marketing initiative with
the B.C. Land Title Office to encourage the adoption of electronic document
filing in the real estate industry. In addition, OneMove is working to expand
its product and service offering. Subsequent to year end, the Company released
econveyance 7.0., which is integrated with Emergis's Real Estate Assyst to
include the electronic transfer of mortgage instructions.
    In the U.K., with the completion of the integration of Company's MMS and
Expert Agent subsequent to year end, OneMove added 535 estate agents to its
network, resulting in approximately 900 new customer leads. In addition, the
Company is working to capitalize on opportunities within the industry by
expanding its offering and building strategic partnerships. With the June
introduction of Home Information Packs ("HIP") by the U.K. government, OneMove
signed a HIP distribution agreement with MacDonald Dettwiler and Associated
Ltd. ("MDA") immediately subsequent to year end.
    To view the full set of 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:
econveyance(TM) 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.
    (formerly Interlude Capital Corp.)
    CONSOLIDATED BALANCE SHEETS
    AS AT JUNE 30
    -------------------------------------------------------------------------

                                                          2007          2006
    -------------------------------------------------------------------------

    ASSETS

    Current
      Cash and cash equivalents                   $  3,877,897  $      2,680
      Receivables                                      267,386       155,703
      Government assistance receivable                  98,474       457,784
      Prepaid expenses and deposits                     76,010        38,336
    -------------------------------------------------------------------------
                                                     4,319,767       654,503
    Equipment                                          843,231       268,601
    Deferred development costs                               -       188,837
    Intangible asset                                    10,800        21,600
    Long term deposits                                 299,434             -
    Deferred financing costs                                 -       182,521
    -------------------------------------------------------------------------
                                                  $  5,473,232  $  1,316,062
    -------------------------------------------------------------------------
    -------------------------------------------------------------------------

    LIABILITIES AND SHAREHOLDERS' EQUITY (DEFICIENCY)

    Current
      Accounts payable and accrued liabilities    $    877,828  $  1,155,088
      Deferred income                                   22,867             -
      Current portion of loans payable                 434,555       308,804
      Current portion of capital lease obligations      33,528             -
      Dividends payable                                      -       120,000
      Preferred shares                                       -       200,000
    -------------------------------------------------------------------------
                                                     1,368,778     1,783,892
    Loans payable                                      312,652       306,074
    Capital lease obligations                           72,882             -
    Non-controlling interest                                 -        69,493
    -------------------------------------------------------------------------

                                                     1,754,312     2,159,459
    -------------------------------------------------------------------------

    Shareholders' equity (deficiency)
      Capital stock                                 18,550,451     4,780,220
      Convertible loans                                      -     1,714,787
      Contributed surplus                            1,607,344       891,980
      Deficit                                      (16,438,875)   (8,230,384)
    -------------------------------------------------------------------------
                                                     3,718,920      (843,397)
    -------------------------------------------------------------------------

                                                  $  5,473,232  $  1,316,062
    -------------------------------------------------------------------------
    -------------------------------------------------------------------------

    "Martin Johnson"   Director    "Tejinder Grewal"    Director
    -------------------            ---------------------



    ONEMOVE TECHNOLOGIES INC.
    (formerly Interlude Capital Corp.)
    CONSOLIDATED STATEMENTS OF OPERATIONS AND DEFICIT
    YEAR ENDED JUNE 30
    -------------------------------------------------------------------------

                                                          2007          2006
    -------------------------------------------------------------------------

    REVENUES                                      $  1,203,944  $    425,353

    EXPENSES
      Advertising                                      734,428       240,168
      Amortization of deferred development costs       188,837       251,781
      Amortization of equipment                        340,036        80,160
      Amortization of intangible asset                  10,800        10,800
      Commissions and fees                             335,153       113,185
      Consulting fees                                   77,640       146,224
      Insurance                                         53,981        12,446
      Interest and bank charges                         58,090        24,346
      Interest on convertible loans                     67,103        42,038
      Interest on loans                                430,226        76,130
      Investor relations and filing fees               133,693             -
      Office and general                               305,394       209,574
      Professional fees                                384,604       267,678
      Rent and utilities                               272,966       115,840
      Shares issued for services                             -        26,250
      Stock based compensation                         322,911       380,613
      Salaries and wages                             2,543,888       739,177
      Telephone                                        383,349       111,331
      Travel                                           587,738       232,735
      Web site planning and design                     143,390             -
    -------------------------------------------------------------------------
                                                     7,374,227     3,080,476
    -------------------------------------------------------------------------

    Loss before other items                         (6,170,283)   (2,655,123)
    -------------------------------------------------------------------------

    OTHER ITEMS
      Other income                                      42,550           280
      Interest on preferred shares                     (12,000)      (24,000)
      Foreign exchange gain (loss)                     (96,317)        6,553
      Loss on disposal of equipment                    (31,633)            -
      Loss from write off of investment
       in Easy Convey                                        -    (1,240,565)
      Loss from equity interest                              -      (496,169)
    -------------------------------------------------------------------------
                                                       (97,400)   (1,753,901)
    -------------------------------------------------------------------------
    Loss before non-controling interest             (6,267,683)   (4,409,024)

    Non-controlling interest                            69,493       191,630
    -------------------------------------------------------------------------

    Loss for the year                               (6,198,190)   (4,217,394)

    Deficit, beginning of year                      (8,230,384)   (2,948,146)
    Related party adjustment                        (2,010,301)   (1,064,844)
    -------------------------------------------------------------------------

    Deficit, end of year                          $(16,438,875) $ (8,230,384)
    -------------------------------------------------------------------------
    -------------------------------------------------------------------------

    Net loss per common share
      Basic                                       $      (0.28) $      (0.38)
      Fully diluted                               $      (0.28) $      (0.38)

    Weighted average number of common shares
      Basic                                         21,947,226    11,149,272
      Fully diluted                                 21,947,226    11,149,272
    -------------------------------------------------------------------------



    ONEMOVE TECHNOLOGIES INC.
    (formerly Interlude Capital Corp.)
    CONSOLIDATED STATEMENTS OF CASH FLOW
    YEAR ENDED JUNE 30
    -------------------------------------------------------------------------

                                                          2007          2006
    -------------------------------------------------------------------------

    CASH FLOWS FROM OPERATING ACTIVITIES
      Loss for the year                           $ (6,198,190) $ (4,217,394)
        Items not affecting cash:
          Amortization of deferred
           development costs                           188,837       251,781
          Amortization of equipment                    340,036        80,160
          Amortization of intangible asset              10,800        10,800
          Shares issued for services                         -        26,250
          Interest on preferred shares                  12,000        24,000
          Stock-based compensation                     322,911       380,613
          Accrued interest on convertible loans         67,103        42,038
          Non-controlling interest                     (69,493)     (191,630)
          Loss from equity investment                        -       496,169
          Interest on loans                            296,327             -
          Loss on disposal of equipment                 31,633             -
          Loss on write-off of investment                    -     1,240,565
          Unrealized foreign exchange                   14,940             -

    Changes in non-cash working capital
      (Increase) decrease in receivables              (109,017)      (21,913)
      (Increase) decrease in government
       assistance receivable                           359,310      (457,784)
      Increase in prepaid expenses                     (37,674)       (1,905)
      Increase (decrease) in accounts payable         (175,707)      470,176
      Increase in deferred revenue                      22,867             -
    -------------------------------------------------------------------------

    Net cash used in operating activities           (4,923,317)   (1,868,074)
    -------------------------------------------------------------------------

    CASH FLOWS FROM FINANCING ACTIVITIES
      Convertible loan proceeds                        424,650     1,336,149
      Loan proceeds                                  2,838,022       668,879
      Loan repayments                               (3,080,442)            -
      Issuance of shares for cash                   10,173,709     1,453,649
      Share issuance costs                          (1,214,720)     (121,654)
      Capital lease payments                           (12,832)            -
      Long term deposits                              (189,142)            -
      Subscriptions receivable                               -        96,593
      Deferred financing fees                                -       (69,192)
    -------------------------------------------------------------------------

    Net cash provided by financing activities        8,939,245     3,364,424
    -------------------------------------------------------------------------

    CASH FLOWS FROM INVESTING ACTIVITIES
      Purchase of equipment                           (254,865)      (81,405)
      Bank indebtedness acquired on acquisition
       of OneMove UK                                         -       (60,274)
      Long term deposits                              (110,292)            -
      Cash received on recapitalization                211,829             -
      Investment in subsidiaries                             -    (1,390,478)
    -------------------------------------------------------------------------

    Net cash used in investing activities             (153,328)   (1,532,157)
    -------------------------------------------------------------------------

    Effect of foreign exchange on cash
     and equivalents                                    12,617             -

    Change in cash and cash equivalents
     during the year                                 3,875,217       (35,807)

    Cash and cash equivalents, beginning of year         2,680        38,487
    -------------------------------------------------------------------------

    Cash and cash equivalents, end of year        $  3,877,897  $      2,680
    -------------------------------------------------------------------------
    -------------------------------------------------------------------------

    Cash paid during the year for interest        $     81,480  $      9,979
    -------------------------------------------------------------------------
    -------------------------------------------------------------------------

    Cash paid during the year for income taxes    $          -  $          -
    -------------------------------------------------------------------------
    -------------------------------------------------------------------------
    





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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