Most Home to enhance lead conversion platform with web-based mortgage point-of-sale system
VANCOUVER, British Columbia and BELLEVUE, Wash., Dec. 20 /PRNewswire-FirstCall/ — Most Home Corp. (OTC Bulletin Board: MHME) today announced that it has signed a non-binding letter of intent to purchase all or substantially all of the operating assets of Netupdate, Inc., a leader in technologies for retail and wholesale mortgage lenders. The parties intend to close on or before December 31, 2007.
The anticipated total value of the transaction is up to a maximum of $2,700,000 consisting of $500,000 in common stock, a $200,000 promissory note, and earn-out (common) shares of Most Home Corp. with a maximum value of $2,000,000.
Ken Galpin, chief executive officer of Most Home Corp., stated, “We are very pleased to reach an agreement in principle with Netupdate. Most Home will be able to add significant value to the current product offerings of Netupdate and we look forward to investing further in the product line. Most Home has been seeking to add a mortgage component to our lead conversion platform for the real estate industry and we have found that in Netupdate.”
Diane Holmstrom, chief executive officer of Netupdate, added, “The industry cross-over for both companies is synergistic. We'll be working together to provide a more cohesive experience for the borrower during the home buying process. Both industries have embraced web-based technologies to better serve consumers. A combined effort will be focused on penetrating the artificial barriers between the two industries.”
About Most Home Corp.
Headquartered in Vancouver, B.C., Most Home Corp., through its wholly owned subsidiary, Most Home Real Estate Services Inc., provides an end-to-end eMarketing solution and technology platform that enables real estate and mortgage firms to increase their online lead conversion rates. Using a proprietary process to improve marketing returns, Most Home enables real estate professionals to enhance their brand and grow their business by supporting multiple channels of customer engagement, ensuring no customers are lost, and ensuring consumers always receive a consistent, positive, and professional service experience. For more information, please visit www.mosthome.com.
About Netupdate, Inc.
Based in Bellevue, Washington, Netupdate, Inc., a developer of lending technologies, offers Originator Pro, an integrated, online point-of-sale system for retail and wholesale lenders who want to increase business from the Internet. Netupdate's Software as a Solution allows mortgage professionals to work together online to collect borrower information, provide regular communication and status updates, and to move loan data to loan origination systems, significantly reducing the time, cost and complexity of these financial transactions. For more information on Netupdate visit the company's Web site at www.netupdate.com.
Most Home Corp.
Ken Galpin, CEO
Toll Free: 800-347-4701
Direct: 604-460-7631 ext. 306
Email: ken.galpin (at) mosthome (dot) 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. To the extent that statements made hereof are not strictly historical, including statements as to revenue projections, business strategy, outlook, objectives, future milestones, plans, intentions, goals, future financial conditions, future agreements, the success of the Company's development, events conditioned on stockholder or other approval, or otherwise as to future events, such statements are forward-looking. All forward-looking statements, whether written or oral, and whether made by or on behalf of the Company, are expressly qualified by the cautionary statements and any other cautionary statements which may accompany the forward-looking statements, and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The forward-looking statements made in this press release are subject to certain risks and uncertainties that could cause actual results to differ materially from the statements made. Other important factors that could cause actual results to differ materially include the following: business conditions and the amount of growth in the Company's industry and general economy; competitive factors; ability to attract and retain personnel; the price of the Company's stock; and the risk factors set forth from time to time in the Company's SEC reports, including but not limited to its annual report on Form 10-KSB; its quarterly reports on Forms 10-QSB; and any reports on Form 8-K. In addition, the company disclaims any obligation to update or correct any forward-looking statements to reflect events or circumstances after the date hereof.
SOURCE Most Home Corp.
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