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Reliant and its subsidiaries carry on a mortgage banking business in Canada. It originates, finances, securitizes, services and markets non-prime mortgages secured by residential real estate. Reliant originates loans both through independent brokers and a direct sales force. Reliant's wholesale channel will also originate non-prime mortgages through relationships with local financial institutions and businesses that restrict their activities to brokering mortgage loans.

Reliant was founded in 2005 with a plan to break down the barriers of mortgage financing for less than-prime consumers in the Canadian Market. Over the last year several challenges such as the US sub-prime market melt down has proven once again that when the US market adjusts, numerous markets around the world are affected. This has proven true for the Reliant's Canadian subsidiary's plan to launch fully in 2007, the adverse secondary mortgage asset backed market conditions have allowed for very slow progress. As such, the management of Reliant will take a slow and measured approach with the aim to adjust our product suite that allows our Mortgages to be attractive to the Mortgage Asset Backed capital markets. Reliant will also proceed to ensure our mortgage products are profitable for the Mortgage Asset Backed capital markets by enhanced underwritings of the highest caliber. Reliant is currently one of the few less than prime lenders with the capability to offer an insured less than prime product to the mortgage asset backed capital market coupled with a fully web based mortgage adjudication system. In this regard, Reliant is actively seeking new capital partners who want to participate in this unique opportunity. As part of our new approach the product line will also include an insured Prime and Alt A product that is interest priced for the Canadian Market. Reliant has several steadfast strategic partners made up of Insurance and Mortgage Servicing Company's to help us achieve our new plan. Reliant Management is adjusting to the new mortgage market and taking the necessary steps to ensure our company achieves a solid base for future success.