Zaio, Valuation Vision and Axis Collectively Generated over $2.25 Million in Pro forma Revenue During the Month of March
CALGARY, April 16, 2014 /CNW/ - Zaio Corporation (TSX-V:ZAO), ("Zaio" or "the Company"), announced that during the month of March, Zaio, Valuation Vision and Axis collectively processed appraisal reports and BPO's, generating over $2.25 million in revenue on a pro forma basis. This is the third consecutive month that the three companies collectively grew their pro forma revenues by more than 10% month over month. The growth was driven by a combination of new customer acquisitions and growth in current customer relationships.
"The continued monthly growth of our pro forma revenues validates the quality of products we are offering the market, and more importantly the effectiveness of our Zaio, Valuation Vision, and Axis teams working together to address customer needs," said David King, President and CEO of Zaio Corporation. "I am extremely pleased to see our teams take meaningful steps forward on the corporate integration process while Valuation Vision progresses on the completion of its fiscal 2013 audit, and Zaio and Axis progress on the completion of the definitive agreement between the Companies."
"During our previous business update, we announced that we are introducing new appraisal products to further leverage the most valuable attributes of Zaio's proprietary database along with Valuation Vision's operations platform, analytics, and forms engine for an unsurpassed appraiser and customer experience," continued David King. "I am pleased to announced that the beta testing for the launch of our GEAR AP, a complete re-work of the Zaio Z-VAL family of products is almost complete, and a public announcement as to their general availability will happen before the end of April."
Zaio will conduct a conference call on Thursday, April 17, at 4:00 pm EDT / 2:00 pm MDT to discuss its fiscal 2013 year-end results. During the call, the Company's CEO, David King will also provide investors and interested parties with an update on the progress of its acquisitions. To access a copy of the presentation that will be used during the call, please visit www.zaio.com. Interested parties can access a live webcast or dial in by telephone at:
https://global.gotomeeting.com/join/981223925 Use your microphone and speakers (VoIP) - a headset is recommended. Or, call in using your telephone: +1 (647) 497-9351. Access Code: 981-223-925
The management of Zaio would also like to provide an opportunity for participants to provide questions that can be addressed during the call. Please submit your questions by email to firstname.lastname@example.org.
Zaio also announced today that its 2013 Annual financial statements, MD&A and a Letter to Shareholders are posted on SEDAR.
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.
About Zaio Corporation
Zaio provides customers in the property valuation, underwriting and lending industries with real-time access to certified appraisal reports from the company's patented database of proactively maintained residential property valuations prepared by licensed appraisers across the United States. Visit the company online at zaio.com.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities of the Company will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") and may not be offered or sold within the United States or to, or for the account or benefit of U.S. persons except in certain transactions exempt from the registration requirements of the U.S. Securities Act.
This press release contains forward-looking statements, including: (i) closing of the Valuation Vision transaction; (ii) completion of due diligence and entering into a definitive agreement with Axis; and (iii) projected revenues resulting from the acquisition of Valuation Vision and Axis. The Company believes that the expectations reflected in this news 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, including risks that: (i) a definitive agreement is not made with Axis and the transaction does not close; (ii) the Valuation Vision transaction does not close; and (iii) or that regulatory approval for the respective transactions is not obtained. 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.
SOURCE: Zaio Corporation
For further information: For further information, visit zaio.com or contact: David King, President & CEO, Zaio Corporation, 403-984-ZAIO, email@example.com; Babak Pedram, Investor Relations, Virtus Advisory Group Inc., 416-995-8651, firstname.lastname@example.org