Appraisal Matters

Well, I never thought that mass picture taking was a profitable model.  I went to their presentations and did not “buy” any territories.  There is no profit model especially since real estate gets changed, knocked down, etc.  Here is the press release.  Although they don’t say they are closing their doors exactly, it certainly appears that they are.  Hey appraisers out there!  Do they owe you money?

Eileen Simpson

ZAIO Closes US Offices, Significantly Reduces Overhead Costs

CALGARY, Oct. 30 /CNW/ - Zaio Corporation, (TSXV: ZAO), (the Corporation)

announces today that, effective immediately, it has ceased all of the

operations of its wholly-owned subsidiary, Zaio Inc. (the “Subsidiary”). An

orderly sale of the Subsidiary’s assets and payments to creditors will be

arranged by an appointed third party. All employees of the Subsidiary have

been provided notice of termination. These steps will significantly reduce the

overhead costs of the Corporation, allowing it to run much more efficiently in

order to preserve capital and weather the current economic climate. It is the

Corporation’s intention to maintain its current relationships with appraisal

firms and zone owners, and redeploy its rollout strategy at a more favorable

time in the economic cycle.

In addition, the Corporation has accepted the resignation of Mr. James

Kirchmeyer and Mr. Douglas Vincent as directors of the Corporation. As a

result of the closing of the Subsidiary, Messrs. Kirchmeyer, Sawottke, Oliver

and Vincent, who are all located in the United States, are no longer officers

of the Corporation. Mr. Brad Stinson, director, shareholder and a founder of

Zaio, will assume, on an interim basis, the responsibilities of CEO, while Mr.

Rodney Mitton, a director and shareholder of Zaio will reassume, on an interim

basis, the responsibilities of CFO.

Closing the Subsidiary will not affect the assets of the Corporation. All

of the intellectual property, proprietary and patent pending valuation

technology and the database containing 24 million photographs and 140 million

property records remain the property of Zaio Corporation. Zaio will continue

to conduct its business operations through its head office in Calgary,

Alberta, Canada.