BELLINGHAM, WA–(Marketwired – April 14, 2016) – Fundamental Research Corp. an independent research firm specializing in the small-cap and microcap sectors, has announced that it has initiated coverage of eXp Realty International Corporation (name change to eXp World Holdings, Inc. presently pending) (OTCQB: EXPI). The report includes a rating and a price target. To the view the report in its entirety visit http://www.otcmarkets.com/financialReportViewer?symbol=EXPI&id=152868.
eXp World Holdings, Inc. is the holding company for a number of entities including eXp Realty, the Agent-Owned Cloud Brokerage and First Cloud Mortgage, Inc. The Company’s real estate brokerage operations now has more than 1,100 real estate professionals who span across 36 states and parts of Canada.
In the report, Fundamental Research Corp. discusses the implementation of eXp’s agent-ownership initiatives, and the fundamentals of its business model stating that the Company’s “ability to attract 1,000+ agents, and over $2 billion in transactions, indicates their attractive value proposition to real estate professionals.”
About Fundamental Research Corp. We do not undertake to advise you as to changes in figures or our views. This is not a solicitation of any order to buy or sell. Fundamental Research Corp. is not a market maker and does not sell to or buy from customers on a principal basis. The above statement is the opinion of Fundamental Research Corp. and is not a guarantee that the target price for the stock will be met or that predicted business results for the company will occur. There may be instances when fundamental, technical and quantitative opinions contained in this report are not in concert. Analysts and members of the Research Department are prohibited from buying or selling securities issued by the companies that Fundamental Research Corp has a research relationship with, except if ownership of such securities was prior to the start of such relationship, then an Analyst or member of the Research Department may sell such securities after obtaining expressed written permission from Compliance. As of the date of this report no Fundamental Research Corp employees had a position in the stock of the company mentioned in this report.
All research issued by Fundamental Research Corp. is based on public information. Fees were paid by EXPI to FRC. The purpose of the fee is to subsidize the high costs of research and monitoring. FRC takes steps to ensure independence including setting fees in advance and utilizing analysts who must abide by CFA Institute Code of Ethics and Standards of Professional Conduct. Additionally, analysts may not trade in any security under coverage. Our full editorial control of all research, timing of release of the reports, and release of liability for negative reports are protected contractually. To further ensure independence, EXPI has agreed to a minimum coverage term including four reports.
About eXp World Holdings, Inc.
eXp World Holdings, Inc. is the holding company for a number of companies most notably eXp Realty LLC, the Agent-Owned Cloud Brokerage™ as a full-service real estate brokerage providing 24/7 access to collaborative tools, training, and socialization for real estate brokers and agents through its 3-D, fully-immersive, cloud office environment. eXp Realty, LLC and eXp Realty of Canada, Inc. also feature an aggressive revenue sharing program that pays agents a percentage of gross commission income earned by fellow real estate professionals who they attract into the Company.
eXp World Holdings, Inc. also owns 90.5% of First Cloud Mortgage, Inc. a Delaware corporation launched in 2015 and now licensed to originate mortgages in Arizona, California, New Mexico and Texas.
The corporate name change to “eXp World Holdings, Inc.” has been approved by our Board and stockholders but is not yet effective, pending the mailing of a definitive information statement to our stockholders in accordance with applicable rules and a 20-day notice period thereafter.
As a publicly-traded company, eXp World Holdings, Inc. uniquely offers professionals within its ranks opportunities to earn equity awards for production and contributions to overall company growth.
The statements contained herein may include statements of future expectations and other forward-looking statements that are based on management’s current views and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in such statements. Such forward-looking statements speak only as of the date hereof, and the Company undertakes no obligation to revise or update them. These statements include, but are not limited to, statements about the Company’s expansion, revenue growth, operating results, financial performance and net income changes. Such statements are not guarantees of future performance. Important factors that may cause actual results to differ materially and adversely from those expressed in forward-looking statements include changes in business or other market conditions; the difficulty of keeping expense growth at modest levels while increasing revenues; and other risks detailed from time to time in the Company’s Securities and Exchange Commission filings, including but not limited to the most recently filed Annual Report on Form 10-K.