|
CONDOFAX INC. ANNOUNCES SALE OF PROPRIETARY CONDO SCORE REPORT TECHNOLOGY
CALGARY, AB, Nov. 10, 2008 – CondoFax Inc. (“CondoFax”) today announced the private sale of its proprietary Condo Score® Reporting Technology. Launched in Q1 2008 as a unique format to Condominium Document Reviews, CondoFax has concluded the sale of its unique and proprietary technology to a National Competitor (“Purchaser”) with sister operations throughout the United States.
Pursuant to terms of the acquisition, the Purchaser’s name is undisclosed, as are the financial terms of the technology acquisition. CondoFax president and CEO, Mr. Timothy D. McKay, MBA, will provide 6 months consulting services through the transition and ramp-up in the Purchaser’s business units, with an option to renew a further 3 months. Training materials will be developed and delivered in conjunction with the Purchaser’s strategic deployment plan. Phase I will include the training of 50 agents, followed by two more phases for a total of 1300 agents coast-to-coast.
The CondoFax Condo Score® technology will be re-deployed under a different branding by the Purchaser and made available to the public at a point in time determined by the Purchaser and will be announced by them at a future point in time.
The CondoFax Condo Score® technology was the product of hundreds of man-hours of research and development. Customer approval ratings of our service were 100% throughout the 6 months of availability to the Calgary local Real Estate market. The reporting technology is a unique way of summarizing 200+ pages in a condominium document package made available to a Condo buyer, by the seller. Condo Score Reports are color coded in an easy way for anybody to know the status of the document package. The inherent value is that the system removes individual bias and makes the reports repeatable and very user friendly.
Our technology, business systems and report generation systems are highly adaptable to jurisdictions outside Alberta and is what caused interest in the purchase of this technology, unique across all of North America.
ABOUT CONDOFAX INC.
CondoFax Inc., is a Calgary, Alberta-based company specializing in condominium document reviews. Our technological uniqueness and distinctiveness has been the pillar of our success in the industry. The company grew over 100% and revenues increased 568% in the six months after making our unique service available to the public (and thereafter attracting a party interested in buying our technology).
CONDOFAX INTELLECTUAL PROPERTY FOR SALE
Because the CondoFax® Condo Score® Report technology is being sold separate from other company assets, we are offering the following intellectual property assets for sale as a GROUP (all domains are tied to the registered trademarks):
These assets are sold as a group.
Enquires can be made by telephone by calling Tim McKay at (403) 516-4161, or in writing to :
CondoFax Inc.
ATTN: Tim McKay
PO Box 91089 Royal Oak RPO
Calgary, AB T3G 5T4
-- 30 --
|
