RE: News-ZAO getting back on trackYes, sadly, instead of trading up, it appears to be trading DOWN..wtf. ----------Original Message Posted 11/18/2009 11:19:41 AM---------- Maybe many did not read or realize what the press release actually said..
No stock action...Not only are they improving database with functionality integrating Loans... they announced they are close to a licensing deal with Zone Data System LLC ("ZDS"),
Strange that no one even cares and no one trades on this..
.I would have thought this news to take zao to 20 cents easily on an initial spike...and begin a new uptrend...
Zaio engages Nasoft USA
CALGARY, Nov. 17, 2009 (Canada NewsWire via COMTEX News Network) --
TSX Venture Exchange Symbol: ZAO
Zaio Corporation ("Zaio" or the "Corporation"), (TSX-V: ZAO) is pleased to announce it has engaged Nasoft USA, an IT Professional Services company focused in the Real estate finance industry, to further the development of its patent pending valuation database technology ("valuation database").
Brad Stinson, CEO of Zaio Corporation stated: "Our decision was based on Nasoft USA's proven expertise with appraisal management technology, and the strategic positioning of the appraiser-driven valuation database, within the current lending arena."
To streamline a lender's appraisal supply chain, Loan Origination Systems ("LOS") typically integrate automatically with appraisal order management systems offered by Appraisal management companies. Nasoft USA is an industry leader in building technology that integrates the flow of appraisal orders. It is anticipated that a technical connection between LOS and the valuation database will allow appraisal orders to be fulfilled immediately online, while the appraiser is afforded additional research time and maintains complete objectivity by constantly researching market conditions in advance. These efforts will enhance the ability of Zaio's appraiser network across the United States to complete market value research and to provide accurate and objective value estimates in a timely manner.
Guillermo Gower, CEO of Nasoft USA stated: "Nasoft USA is an IT powerhouse where our industry focus, proven experience and customer-centric delivery model are helping companies like Zaio play an integrative role in rebuilding the Real estate finance industry."
In conjunction with the anticipated signing of a National License Agreement with Zone Data System LLC ("ZDS"), Zaio's US appraiser network, ZDS commissioned a review of the Zaio's technology through an independent information technology consulting firm. The report concluded that Zaio used industry standards in regards to application design, structure and development making Zaio's solution viable and maintainable in the long term. A link to this technology review is available in the Investor section at www.zaio.com.
Ron Simmons, SRA, Managing Partner in ZDS and chair of ZDS's Technology committee stated: "We are convinced that the valuation database offers a revolutionary software platform through which appraiser certified data can be provided in combination with our local market research."