TSX Venture Exchange Symbol: ZAO
CALGARY, Dec. 14 /CNW/ - Zaio Corporation ("Zaio" or the "Company") (TSX-V: ZAO) is pleased to announce the signing of a National License Agreement with Zone Data Systems LLC, for the entire United States market. This milestone establishes Zaio technology in the US appraisal industry and launches construction of the world's first dynamic valuation database, built, backed and monitored by licensed local appraisers.
Ron Simmons SRA, Chairman ZDS Technology Committee said, "The Managing
Committee of ZDS and the appraisal business owners are excited by the
potential of the relationship we have now reached. We believe that
together our businesses will be able to provide more innovation, more
responsive service, and greater quality standards than are presently
available with alternative valuation products."
Brad Stinson, CEO Zaio Corporation said, "Residential real estate is the
largest asset class in the world, and the days of not having real-time
access to accurate, unbiased, valuation research on any property or
portfolio are coming to an end. World economics require this change, now
being pioneered by ZDS and Zaio."
There are approximately 200 member appraisal firms in ZDS now and the number is growing. ZDS is responsible for providing the marketing, tracking and data-to-day fulfillment of individual appraisal orders. ZDS's members will be directly managing the process and because the operational cost of managing the appraisal network shall be borne by ZDS, the members of ZDS will also receive an additional financial incentive as profits are to be shared on a 50/50 basis with Zaio.
Zaio directors and management believe the Company's new National License program makes the Company stronger and leaner, thereby improving the potential return to all stakeholders. Zaio's previous business model required that Zaio issue and coordinate hundreds of individual license agreements with appraisal firms across the United States and conduct the day-to-day operations including marketing, negotiating, tracking and fulfilling the delivery of individual appraisal assignments. Under the previous business model, the Company salaries and general administrative costs were very high, creating undue risk to stakeholders. In addition, the previous business model did not offer adequate managerial participation from the appraisal network. It is now clear, that the enthusiasm of ZDS members will help drive the Company forward.
Zaio will now focus on technical support for ZDS, expanding into other countries and delivering new technology that brings real-time value tracking directly to real estate investors and home-owners.
Zaio develops and maintains a site-verified database of photos, valuations and property information on virtually every residential property in entire cities, using a proprietary "GeoScore (TM)" property rating system. Zaio and its network of premiere, local appraiser experts appraise entire cities, one home at a time from the street. Zaio is a public company that trades under the symbol "ZAO" on the TSX Venture Exchange in Canada. Zaio shares are also available in the U.S. under the trading symbol "ZAOFF". For more company information, visit www.zaio.com.
Forward Looking Information
This press release contains statements that may constitute "forward-looking information" or "forward-looking statements" (collectively, "forward-looking information") within the meaning of applicable Canadian securities laws. This forward-looking information includes, among others, statements regarding business strategy, plans and other expectations, beliefs, goals, objectives, information and statements about possible future events. This press release contains forward-looking statements including estimates, plans, expectations, opinions, beliefs, forecasts, projections, guidance or other statements that are not statements of fact, including without limiting the generality of the foregoing, statements made regarding the new National Licensing program and the beliefs of management with respect to Zaio becoming substantially stronger and leaner under the new National License program. Although Zaio believes that the expectations reflected in such forward-looking statements are reasonable, it cannot give any assurance that such expectations will prove to be correct. Results of Zaio's new national licensing program, database completion, roll out to the market and financial position may be affected by a variety of variables and risks such as availability of human and capital resources, competition, anticipated capital expenditures and financing thereof, timing of applications and approvals. As such the future plans and objectives of Zaio are forward-looking statements that involve risks and uncertainties and may be based on assumptions that could cause actual results to differ materially from those anticipated or implied in such statements. Zaio's forward-looking statements are expressly qualified in their entirety by this cautionary statement. Unless otherwise required by applicable securities laws, Zaio does not intend nor does it undertake any obligation to update or review any forward-looking statements to reflect subsequent information , events, results or circumstances or otherwise.
Neither TSX Venture Exchange nor its Regulation Services Provider (as
that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release.
SOURCE Zaio Corporation
For further information: For further information: Zaio Corporation: Bradley Stinson, CEO, (877) 318-0537; Rodney Mitton, CFO, (877) 318-0537; Stone Communication Services Limited: Brian Edelstein, Managing Director, (800) 336-9528, firstname.lastname@example.org