Zaio Corporation

Zaio Corporation

November 07, 2011 07:00 ET

Zaio Corporation Granted US Patent for Property Appraisal System

Decision Expands Market Opportunities for Zaio's Online Appraisal Technology

CALGARY, ALBERTA--(Marketwire - Nov. 7, 2011) - Zaio Corporation (CNSX:ZAO) (the "Company"), today announced that the United States Patent Office has granted the Company patent # 8046306 for the property appraisal system that is at the core of Zaio's service offering.

In a notice issued on October 25, 2011, the Company was informed that its application for patent protection for 20 specific claims over the system, method and apparatus for collecting, mapping, validating, scoring, storing and retrieving information to generate an appraisal report on a property had been granted by the United States Patent Office. The Company initially filed the patent application on June 29, 2007.

Specific claims in the patent include the concept of scoring property aspects with specific numbers rather than subjective words allowing the system to generate averages. Another patented claim includes the concept of defining a "market group" which means to specifically define which addresses in a given area directly compete with each other for the same type of buyer. The patent also includes the process of applying linear regression on property scores to track the value trend for homes in a specific market group. Management believes its patent is a significant differentiator relative to other property valuation technologies currently available in the US market today.

Zaio's patented property appraisal system has been licensed in the United States to its distribution partner, Zone Data Systems LLC ("ZDS"). "Zaio's patented technology is allowing our local appraisal partners to encode data on almost a million properties each week across the United States," noted G. Daniel Green MAI, SRA, Managing Committee Member at ZDS.

As of September 30, 2011, Zaio's database contained current marketable information on more than 6.2 million residential properties in the United States, a 55% increase from the month prior. This data is being compiled through the work of certified and/or licensed property appraisers in 239 offices across the United States. The property scoring and market mapping information in this database enables the Company to generate current property appraisals and portfolio valuations for various applications including mortgage lending, tax assessment, investment analysis and regulatory compliance.

"The awarding of this patent provides Zaio with an important tool to define and protect the intellectual property that is at the heart of our enterprise," said David King, Zaio's President and CEO. "The patent also allows Zaio to confidently engage the US market without fear of inadvertently undermining the value of the intellectual property that we have spent 7 years and $18 million building."

About Zaio Corporation

Zaio provides customers in the property valuation, underwriting and lending industries with real-time access to certified appraisal reports from the Company's patented database of proactively maintained residential property valuations prepared by licensed appraisers across the United States. The Company's products are available in the United States through its Licensee, Zone Data Systems LLC.

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.

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.

Neither CNSX nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • Zaio Corporation
    David King
    President & CEO
    (403) 984-ZAIO

    Genoa Management Ltd.
    John Sadler
    (416) 594-9292