OneMove Technologies Inc.
TSX VENTURE : OM

OneMove Technologies Inc.

June 01, 2009 18:26 ET

OneMove™ Posts Second Profitable Month in Row

Revenue growth continues a rising trend up 18% over April

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 1, 2009) - OneMove Technologies Inc. (TSX VENTURE:OM), which provides a leading web-based real estate transaction platform, announced today that it experienced continued growth and recovery with May revenues up 18% from April.

Amidst the international economic downturn, OneMove reported monthly revenues have grown by over 115% since January. They reported over 5,000 transactions in May on revenues of $147,000.

OneMove said that their monthly breakeven-mark for transactions is about 4,500. "This figure has been lowered through a series of cost-cutting and reorganization measures undertaken over the previous year," said Martin Johnson, President and CEO of OneMove. "We made a strategic decision a little over a year ago to focus on the operations in British Columbia and on profitability here. We are now getting the results we wanted from those decisions. In April, we announced that our revenues exceeded expenses for the first time. Now in May, we have another month in the black. We are delighted," said Johnson.

OneMove's carefully planned change in direction a year ago is paying off. OneMove has taken unprecedented cost-cutting measures to dramatically reduce expenses. This included divesting its UK subsidiary in March 2008, salary and expense reductions, and a decision not to renew its BC Online agreement in May 2009. This last decision will save OneMove a 27% fee on every transaction.

Martin Johnson said, "Our planning is paying off and OneMove is moving to break-even and beyond. We have been extremely focused on our objectives and the results are now showing us in the black in April and May for the first time. The recent recovery in transaction volume is a contributing factor in driving our improved revenues. This, along with increased users and significant expense reductions has resulted not only in growth, but also our second profitable month in a row."

For OneMove, the fourth quarter is typically their strongest quarter in their fiscal year. "We are optimistic that we will see continued improvements in results," said Johnson. "We are excited about the much anticipated release of our next generation of software econveyancePro™ this fall."

According to the company, quality assurance trials for their new econveyancePro™ software are nearing completion and beta trials will begin this month. OneMove say they believe their new software platform, combined with their customer-service model will continue their market dominance and drive continued growth and market adoption in the coming year.

About OneMove Technologies Inc.

OneMove Technologies Inc. (TSX VENTURE:OM) is a real estate transaction platform. Through econveyance™, a leading edge web-based conveyancing software solution, OneMove™ simplifies and expedites the process of buying and selling real estate in British Columbia, Canada. econveyance links all participants in the property transfer process, offering a secure and efficient means of seamlessly completing and monitoring the transaction online. Additional information about OneMove can be found at www.onemovetech.com or www.sedar.com.

Forward Looking Statements

This press release contains certain "forward looking statements". These statements relate to future events or future performance and reflect expectations and belief regarding growth, results of operations, performance, business prospects, opportunities or industry performance and trends. These forward looking statements reflect current internal projections, expectations or beliefs and are based on information currently available. A number of factors could cause actual events or results to differ materially from the results discussed in the forward looking statements. Although it is believed that the forward looking statements contained in this press release are based upon reasonable assumptions, investors cannot be assured that actual results will be consistent with these forward looking statements. These forward looking statements are made as of the date of this press release, and OneMove Technologies Inc. assumes no obligation to update or revise them to reflect new events or circumstances, except as required pursuant to applicable securities laws.

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