Zaio has now sold its software to licensed appraisers in 170 cities in the past six months. Due to strong demand, Zaio also increased its price from US$8,250 to US$9,000 per license in January. "As a result of continuing strong customer demand, Zaio is announcing its next series of price increases of US$200 per month beginning April 1, 2007," said Brad Stinson, founder of Zaio. Appraisers interested in 10 or more Zone licenses can lock in their price before the scheduled increase by contacting Brad Stinson at brad@zaio.com and may purchase licenses at any time. Appraisers buying less than 10 Zones should attend an informational meeting in their city to get the whole picture about Zaio. Those meeting dates are listed on Zaio's website at www.Zaio.com.
"Zaio's biggest challenge continues to be adding sufficient manpower to respond to the numerous customer inquiries," stated Inserra. The Company has recently hired senior people in the areas of sales and training with a view to increasing its rate of sales growth and capacity to bring on new appraiser
partners.
Zaio ended 2006 with a large cash balance as a result of cash flow-positive operations and a private equity raise in December 2006. Zaio plans to maximize shareholder value by investing cash to accelerate revenue growth. Zaio is also actively seeking strategic acquisitions and partnerships in twelve vertical customer market segments including appraisers; banks and first mortgage lenders; second mortgage and home equity lenders; appraisal management companies (AMC); secondary market and loan portfolio and
securitization companies; appraisal form software providers; home insurance companies; county tax assessors; Web-based content providers; real estate data providers; real estate agents; and consumers, investors and for-sale-by owners.
Inserra further explained, "While stocks and bonds can instantly be valued online, the customers in these twelve markets are regularly asked to wait seven days or longer to receive an official appraisal from a licensed appraiser in order to determine the value of real estate. All of the customer market segments are very interested in benefiting from Zaio's instantly delivered, appraiser-inspected valuation products, photos and site verified data."
About Zaio
Zaio is a public corporation that trades under the symbol "ZAO" on the TSX-V Exchange in Canada and additional information is available for US investors under the symbol "ZAOFF". Zaio and its network of premiere, local appraiser experts photograph and appraise entire cities, one building at a time from the street. It is the only known company in the world that develops and maintains a site-verified database of photos, valuations and property information of virtually every property in entire cities, using a proprietary "GeoScore" property rating system. For more information, visit www.zaio.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. 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. -- www.tsx.com
Posted February 8th, 2007 by ruzik_tuzik
