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Zaio Corporation Announces Q2 2016 Financial Results-Company reports 164% Year over Year growth in Revenue- CALGARY, Aug. 29, 2016 /CNW/ - Zaio Corporation (TSXV: ZAO) (the "Company" or "Zaio"), today announced its second quarter (Q2) financial results for the three months ended June 30, 2016. "We are incredibly pleased with our performance this quarter," said Shane Copeland, CEO of Zaio Corporation. "As evident by the 164% year over year growth in our top line, we are starting to see the result from our strategy to disrupt a still nascent real estate appraisal market being executed. We have been aggressively capturing market share with our industry leading Clarocity Platform and our highly innovative next generation valuation products such as MVPro appraisal and BPO Merge. Through successful implementation, testing and actual production with several lenders, servicers and GSE clients, our innovative products are outperforming traditional appraisal while greatly reducing cost in time and in dollars. We are just getting started as next generation appraisal and valuation product acceptance continues to accelerate in the U.S. Lending Market." Financial Highlights
Operational Highlights
About Zaio Corporation Zaio Corporation was founded on the simple premise that current real estate valuation technologies lacked the information and technology necessary to deal with today's dynamic housing market. Zaio is disrupting an industry that was once thought not possible through its proprietary valuation solutions. Every day our GSE, banking, and investor clients rely on our proprietary solutions to fund loans and value assets. At Zaio, our mission is to ensure that our solutions provide businesses and consumers unparalleled insight into their real estate assets. For more information, visit www.zaio.com. 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. Forward-Looking Information This news 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, the overall economy in both Canada and the United States. Forward-looking information in this press release, includes, among other things, information relating to any applicable approvals required in order to complete the warrant surrender and share subscription which may include, but is not limited to, the approval of the TSX Venture Exchange. 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. 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. 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) SOURCE Zaio Corporation |