Autoagent Data Solutions, LLC

<p>&nbsp;</p><p><strong>Background<br>145 million real estate properties </strong>exist in the United States. All of these properties are taxed by county or municipal <strong>tax collectors (TCs)</strong>. There are <strong>21,000 county and municipal TCs</strong> in the US. &nbsp;The 1,000 largest TC’s collect tax on <strong>100 million</strong> properties. There are <strong>6,000 mortgage lenders</strong> in the US that have issued mortgages for <strong>60 million US properties</strong>. The majority of property taxes for mortgaged properties are paid by the mortgage lender via escrow.</p><p>In order to manage property tax payments mortgage lenders need updated property tax data from each TC to which they remit property taxes. Each TC uses a variety of software platforms with a variety of data formats. Data acquisition is very complex and most lenders request and receive the data only 30-60 days before the tax due date.</p><p><strong>What is Autoagent?</strong><br>Autoagent is a web-based portal that is used by hundreds of TCs in order to deliver the most up-to-date property tax data to thousands of mortgage lenders. Autoagent blocks duplicate payments and eliminates 95% of refunds and errors for tax collectors effectively automating a very complex process, thereby saving mortgage lenders valuable time and money.</p><p><strong>What is Unique about Autoagent?</strong><br>There are no other products serving the function of Autoagent and there is virtually no competition. Autoagent is free for TCs, with revenue generated from mortgage lenders on a per property basis. Autoagent incorporates a social network aspect, in which TCs and mortgage lenders can connect and communicate via the Autoagent portal, in order to exchange property tax data and payments. This feature increases the visibility of Autoagent and helps it propagate itself among current and potential users.</p><p><strong>Current Status</strong><br>Currently Autoagent is used by 50 TCs in 12 States. We are adding TCs at a rate of 140% per year, with the addition of 4-5 new TCs every month. Our unique and <em>exclusive</em> partnership with the biggest tax service company in the US has become the primary driver of Autoagent sales. We are projecting our revenue growth rate to double in the next 12-24 months.</p><p><strong>Management</strong></p><p>Niko Spyridonos and Sadiq Samani are the founders, owners, and the only two employees of Autoagent. Niko moved to the US in 1990 and studied Computing and Information Science in Chicago, IL. Niko has a deep understanding of web technologies with emphasis on database driven applications. Mr. Samani joined Niko’s team in 2001 and was instrumental in the development of Autoagent to today’s form.</p><p>Niko, the CEO, manages all sales, training and customer support.&nbsp; He also contributes to the development of the technology by utilizing user feedback. Sadiq, the CTO, handles the technology behind Autoagent, including heavy duty programming and day-to-day development support and operations.</p><p><strong>Technology</strong><br>Our technology is written entirely in Open Source tools and the database uses the power of Microsoft SQL Server. The application is cloud hosted, fully redundant and instantly scalable. Autoagent is strategically designed to grow with our exponentially growing database over time.</p><p><strong>Marketing Strategy</strong><br>Our current marketing strategy is to utilize our strategic partner’s national and international resources and existing relationships with virtually every TC in the nation. We present Autoagent in person or via WebEx and convert approximately 4-5 TCs to Autoagent per month. In addition we try to attend as many local government conferences attended by TCs generally continue to be active in the TC community.</p>