FORT LAUDERDALE, FL / ACCESSWIRE / June 18, 2015 / RealBiz Media Group Inc. (RBIZ): We are pleased to report several advances in our company's forward momentum as RealBiz is in the best financial and marketing position it has ever experienced.
Through technology enhancements and cost efficiencies implemented in the last 90 days, we are on target to save approximately $1,700,000 per year while continuing to accelerate our business models and income generation. We have accomplished this while streamlining organizational structures and functional capabilities. Our new CIO/COO, Alex Aliksanyan, has aggressively eliminated reliance on outside consulting services while integrating all four technology platforms into a seamless offering. This positions us for greater sales and productivity with National and Regional offices, as well as individual agents. Additionally, they have increased their efforts, making them more integral to the RealBiz solution. They now work as one body entity, focused on a specific set of strategic tasks. These improvements have produced a direct market impact on our revenue and earnings growth.
All of the above efforts have brought RealBiz Media within a short distance of profitability. We have reduced our monthly burn rate from over $290,000 at the beginning of the year to less than $40,000. Our goal is to close this gap and shortly move into profitability through increased revenues. To this end, we have recently announced significant enhancements and functionality to our video platform; to include High Definition options, improved messaging and advertising and transitioning capabilities. Over the past thirty days our key National and Regional accounts such as Keller Williams, Century 21 and ERA, have received corporate wide video production technology upgrades, providing these firms and their clients a much improved video experience. As this group represents a majority of our current business, we are now preparing to offer them additional services within and without the video space. In the enterprise sales arena, we have several new clients which we hope to bring on the platform in the very near future. Recently, we finished work on two new regional broker clients that have purchased our full catalog of video production capabilities and are now moving to the deployment stage.
For individual agents, we now have a complete ecosystem that allows them to capture multiple benefits from using our PowerAgent platform. PowerAgent has evolved into a fully integrated productivity suite that goes far beyond what our competitors are offering. It includes a CRM (Customer Relationship Management), Social Media connectivity, marketing, lead generation, video creation and customer loyalty platforms–all at a very affordable price. With this product available, our emphasis moves from development to trial and adoption. As marketing will be the priority, we are sourcing and testing new approaches to agent acquisition and retention. Our greatest development is that we now have a direct-to-agent product that will add to our revenue base daily. This is critical as the sales cycle for enterprise clients can often extend to six months or more.
System wide improvements have also been completed to our back end processes. Upgrades to our main database and scripting files will now allow us to ingest millions of US listings daily. This is a first for RealBiz, making us among the largest in the industry. The new database will also allow us to bring on a host of new features; most importantly dramatically enhanced maps, geographic manipulation and listing alert capabilities-all key functionality needed by both agents and consumers.
The funding for these key efforts to enhance product offerings and integrate the technology platforms largely came about through a financial offering arranged through our underwriter Security Research Associates. We are convinced our current technology offerings hit the "sweet spot" for agents. Our platforms deliver video, social media and agent awareness marketing solutions, giving a true alternative to the current options-the lead purchase programs offered by major consumer real estate websites.
One of our potential challenges will be to effectively get our marketing message out to the real estate community. In coordination with our recent achievements, we welcome a $500,000 investment from Himmil Group, arranged by, The Benchmark Company, LLC, a New York based investment bank. Much of this funding will be used for a marketing campaign designed to accelerate the company's revenue growth.
Finally, the company is completing a decoupling from our parent company, Next1 Interactive, making RealBiz Media a pure Technology service company for the real estate community. We are in the final stages of deconsolidating the financial statements and under this decoupling we will be able to provide shareholders a clearer presentation and simpler reporting. We look forward to the balance of the year and anticipate positive cash flows and accelerated revenue growth.
With profitability and revenue growth anticipated in the near term, we hope you are as excited as we are with the hard work it has taken to reach this pivotal moment. Given our current market position, a strong technology platform with significant competitive advantages and functionality, our shareholders are now able to benefit from our future growth. We believe it's a great time to be a RealBiz Media shareholder!
About RealBiz Media Group, Inc.:
RealBiz Media Group, Inc. is a real estate digital media and technology company whose proprietary video processing technology makes it one of the leaders in providing home video tours to the real estate industry. Its client base reaches more than 350,000 real estate agents and brokers. The company provides a series of products including a consumer portal at http://www.nestbuilder.com, an agent-only platform known as Nestbuilder Agent, an agent social media and marketing solution known as ReachFactor, a growing MVA network, virtual tours and mobile apps. The company enjoys access to many of the nation's largest real estate companies with numerous approved vendors and national contracts.
RealBiz Media Group, Inc. (RBIZ) trades on the OTCQB venture stage marketplace for early stage and developing U.S. and international companies. Companies are current in their reporting and undergo an annual verification and management certification process. Investors can find Real-Time quotes and market information for the company on www.otcmarkets.com.
Safe Harbor Statement:
This news release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning plan, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts. These statements are subject to uncertainties and risks including, but not limited to, product and service demand and acceptance, changes in technology, economic conditions, the impact of competition and pricing, government regulation, and other risks described in statements filed from time to time with the Securities and Exchange Commission. All such forward-looking statements whether written or oral, and whether made by or on behalf of the Company, are expressly qualified by the cautionary statements that may accompany the forward-looking statements. In addition, the Company disclaims any obligation to update any forward-looking statements to reflect events or circumstances after the date hereof.
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SOURCE: RealBiz Media Group Inc.