Most Home Corp.
OTC Bulletin Board : MHME

Most Home Corp.

March 23, 2006 18:18 ET

Most Home Corp. Reports Second Quarter Results

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - March 23, 2006) - Most Home Corp. (OTCBB:MHME) today announces results for its second quarter ended January 31, 2006 (Q2).

Most Home had Q2 revenues of $381,469; a 25% increase compared to the prior year period. Gross margin increased by $90,728 for Q2 fiscal 2006, representing a 186% gain, compared to Q2 of fiscal 2005. Operating losses for the period were $613,193, or 3 cents per share compared to a net loss of $433,393, or 2 cents per share for the comparable quarter in fiscal 2005. The company also incurred $31,251 in non-cash consulting expense for the three months and $53,511 for the six months ended January 31, 2006, relating to Stock Bonus shares issued under a consulting agreement.

The company reported a net loss of $1,159,562, or 5 cents per share, on revenues of $814,365 for the six months ended January 31, 2006, compared to a net loss of $459,854, or 2 cents per share, on revenues of $847,861 for the comparable six month period in fiscal 2005. Most Home's gross margin was $139,628 (36.6%) for the three months and $346,868 (42.6%) for the six months ended January 31, 2006, compared to a gross margin of $48,900 (16.0%) and $365,226 (43.1%), respectively, for the comparable periods in fiscal 2005.

Most Home saw increased general and administrative expenses during the period due to hiring additional operations and development staff to meet demand, additional consulting expenses for business development and planning, expanded advertising efforts, and an increase in the value of the Canadian dollar.

These financial results should be read in conjunction with Form 10-QSB filed by Most Home Corp. for the interim period ended January 31, 2006, as reported on www.sec.gov (CFN 0-29067).

"Our progress is on target," said Ken Galpin, chief executive officer. "Our revenue base grew and diversified as we saw our second quarter of revenues from our wireless and real estate brokerage product lines. We have invested in a major transition from subscription-based service, primarily for individual real estate agents, to multi-year enterprise agreements with leading real estate companies," Galpin concluded.

"We signed several significant service agreements this quarter with RE/MAX Western Canada, RE/MAX Ontario-Atlantic, Windermere Real Estate Services and The Herman Group of Colorado," said Jim Secord, President, Most Home Technologies. "Our sales success confirms the demand for our services and validates our investment in developing the brokerage markets," he added.

"In addition to growth in the brokerage product line, the Most Home Wireless group, through strategic marketing partnerships with First American Corporation (NYSE:FAF) and Tarasoft Corporation, deployed wireless MLS services to a dozen MLS customers serving over 150,000 real estate agents," Secord concluded.

For more information about Most Home Corporation, visit www.mosthome.com.

About Most Home Corp.

Most Home Corp. (OTCBB:MHME) operating through its subsidiary Most Home Technologies Corp., is a technology and services company specializing in Internet solutions for the real estate industry. The eTeam (Internet) Response Services and ClientBuilder Broker Web Solution are available to independent brokers and real estate franchises across the US and Canada. ClientBuilder is a client acquisition, response, and qualification solution providing a unique combination of high tech and high touch to brokers looking to grow their business through a proven online marketing and customer service strategy. eTeam Response Services provides outsourced services through a state-of-the-art contact center in Vancouver, Canada. In addition, Most Home Technologies provides award-winning wireless MLS service to major markets including most of Canada, Las Vegas, Upper State New York, Minnesota, Washington, DC, Maryland, Virginia, West Virginia, Pennsylvania, Southern California, and the Pacific Northwest.

Most Home Corp. also operates Most Referred Real Estate Agents Inc. Established in 1997, Most Referred® is a licensed real estate company specializing in acquiring and qualifying real estate leads for its network of peer-selected real estate agents in some 2,600 market centers across North America.

Most Home Corp. is headquartered in Vancouver, B.C., Canada and maintains a corporate Internet site at http://www.mosthomecorp.com.

Its subsidiary Most Home Technologies maintains a website at http://www.mosthome.com, its wireless division at http://mosthomewireless.com and Most Referred® at http://mostreferred.com.

Certain information and statements included in this news release constitute "forward-looking" statements within the meaning of the Federal Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the results, performance, or achievements of the Company to be materially different from any future results, performance, or achievements expressed or implied in such forward-looking statements.

Contact Information