CALGARY, Oct. 10 /CNW/ - Zaio Corporation (TSX-V: ZAO) is pleased to
provide updates on its Zone Sales, Photography rates, Zone Appraiser work flow
and Zone Appraiser scoring.
Over the months of July, August and September the Company sold 204
software licenses to new Zone Appraisers throughout the United States bringing
its cumulative software zone sales to 1300. "Despite the summer holiday
schedules among appraisers, our software Zone sale plans continue to be
executed and performed consistent with expectations", commented John Ross, VP
of Zone Sales.
Zaio is very happy to announce that the Photographic data base recently
passed through the 10 million mark. We are now over 13% of the way to our
estimated total of photographing 75 million homes. The quarter ended with an
average rate of 77,000 photos per day, however, it is important to note that
we have experienced days on which the photo rate exceeded 100,000.
The third quarter was the first in which Zaio was able to deliver fully
integrated Zones back to Zone Appraisers allowing them to complete their
valuation work. This is the last step in the process of making Zones available
to customers for purchase of Zaio's valuation products in addition to the
traditional products already available. An important aspect of this event is
that the Company is now in a position to recognize revenue which had
previously been deferred.
Several Zone Appraisers are now receiving appraisal orders from our
Kirchmeyer and Realink divisions, thus providing them with a revenue stream
even before the Zaio product is on the market. This is like a windfall to them
as there was no quarantee of this type of revenue at the time they purchased
Thomas J. Inserra, Zaio Corporation CEO stated, "Overall, Zaio continues
to demonstrate success in implementing its aggressive growth plans, and is
delivering solid performance in our key metrics." Details on the above
successes will be shared with investors at the Q3 conference call to be held
during the third week of November. The date and time of this call will be
available in the coming weeks.
Zaio is the North American leader in developing and maintaining a
site-verified database of photos, valuations and property information of
virtually every property for entire cities, using a proprietary "GeoScore"
property rating system. Zaio and its network of premiere, local appraiser
experts photograph and appraise entire cities, one building at a time from the
Zaio is a public corporation that trades under the symbol "ZAO" on the
TSX-V Exchange in Canada. Additional information is available for US investors
under the symbol "ZAOFF".
For investors who would like to be added to Zaio's investor distribution
list, please contact Collum Hunter at email@example.com.
The TSX Venture Exchange 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
Company's future plans, objectives or economic performance and financial
outlooks, including without limitation, a forecast on expected annual
revenues. Such statements are subject to risk factors associated with the real
estate industry, and the overall economy in both Canada and the United States.
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.
For further information:
For further information: For more company information, visit
www.zaio.com or please contact: Thomas J. Inserra, President and CEO, (480)
575-5111; Rodney D. Mitton, CFO, (403) 802-2033