---

UNITED STATESSECURITIES AND EXCHANGE COMMISSIONWashington, D.C.
20549

Form 10-QSB

[x] Quarterly report pursuant section 13 or 15(d) of the
Securities Exchange Act of 1934

For the quarterly period ended April 30, 2008

[ ] Transition report pursuant section 13 or 15(d) of the
Securities Exchange Act of 1934

For the transition period from ________________to
________________

Commission file number 0-29067

Most Home Corp.(Exact
name of small business issuer as specified in its charter)

|Nevada                   | 98-0173359                          
|------------------------ | ------------------------------------
|(State of Incorporation) | (I.R.S. Employer Identification No.)

**Unit 1, 11491 Kingston StreetMaple Ridge, British
Columbia, Canada V2X 0Y6 Tel: (604) 460-7634** (Address
and telephone number of Registrant's principal executive offices and principal
place of business)

Check whether the issuer (1) filed all reports required to be
filed by Section 13 or 15(d) of the Exchange Act during the past 12 months (or
for such shorter period that the registrant was required to file such reports),
and (2) has been subject to such filing requirements for the past 90 days.

Yes [x] No [ ]

Indicate by check mark whether the registrant is a shell company
(as defined in Rule 12b-2 of the Exchange Act).

Yes [ ] No [x]

State the number of shares outstanding of each of the issuer's
classes of common equity, as of the latest practicable date:

As of June 19, 2008 the Company had 39,864,637 outstanding
shares of Common Stock. This amount excludes 1,164,183 shares of common stock
issuable upon the conversion of 1,164,183 Series A Preferred shares.

Transitional Small Business Disclosure Format (Check one): Yes[
] No [x]

---

Consolidated Financial Statements of

MOST HOME CORP.

(Expressed in U.S. dollars)

For the Three and Nine Month Periods Ended April 30, 2008

2

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|MOST HOME CORP.            
|---------------------------
|Consolidated Balance Sheets
|(Expressed in U.S. dollars)

|                                                                      |  | April 30,   |   |  | July 31,    |  
|--------------------------------------------------------------------- |  | ----------- | - |  | ----------- | -
|                                                                      |  | 2008        |   |  | 2007        |  
|                                                                      |  | $           |   |  | $           |  
|                                                                      |  | (Unaudited) |   |  |             |  
|Assets                                                                |  |             |   |  |             |  
|Current Assets                                                        |  |             |   |  |             |  
|Cash                                                                  |  | 7,207       |   |  | 18,443      |  
|Accounts receivable                                                   |  | 266,088     |   |  | 269,407     |  
|Prepaid expenses                                                      |  | 47,681      |   |  | 33,237      |  
|Due from related party (Note 10(a))                                   |  | 35,373      |   |  | 31,938      |  
|Total Current Assets                                                  |  | 356,349     |   |  | 353,025     |  
|Deferred acquisition costs                                            |  | -           |   |  | 119,334     |  
|Property and equipment (Note 4)                                       |  | 145,449     |   |  | 105,134     |  
|Intangible assets (Note 5)                                            |  | 546,675     |   |  | 156,794     |  
|Goodwill (Note 6)                                                     |  | 1,205,755   |   |  | 754,892     |  
|Total Assets                                                          |  | 2,254,228   |   |  | 1,489,179   |  
|                                                                      |  |             |   |  |             |  
|Liabilities and Stockholders' Equity (Deficit)                        |  |             |   |  |             |  
|Current Liabilities                                                   |  |             |   |  |             |  
|Short-term bank borrowings (Note 7)                                   |  | 131,478     |   |  | 156,389     |  
|Accounts payable (Note
      10(c))                                   |  | 1,125,249   |   |  | 880,308     |  
|Accrued liabilities (Note 8)                                          |  | 1,452,919   |   |  | 983,126     |  
|Loans payable (Note 9)                                                |  | 99,042      |   |  | 111,585     |  
|Due to related party (Note 10(b))                                     |  | 290,162     |   |  | 213,988     |  
|Deferred revenue                                                      |  | 368,908     |   |  | 159,415     |  
|Total Current Liabilities                                             |  | 3,467,758   |   |  | 2,504,811   |  
|Long-term loans payable, net of current portion (Note
      9(b))     |  | 3,281       |   |  | 4,196       |  
|Total Liabilities                                                     |  | 3,471,039   |   |  | 2,509,007   |  
|                                                                      |  |             |   |  |             |  
|Nature of Operations and Continuance of Business (Note 1)             |  |             |   |  |             |  
|Commitments (Note 14)                                                 |  |             |   |  |             |  
|Subsequent Events (Note 16)                                           |  |             |   |  |             |  
|Stockholders' Deficit                                                 |  |             |   |  |             |  
|Series A preferred stock, $0.001                                      |  |             |   |  |             |  
|par value; Issued and
      outstanding: 1,164,183 and 1,164,183,     |  |             |   |  |             |  
|respectively (Note
      11)                                          |  | 1,164       |   |  | 1,164       |  
|Common stock (Note 11)                                                |  |             |   |  |             |  
|Authorized 250,000,000
      shares, $0.001 par value;                |  |             |   |  |             |  
|Issued
      and outstanding: 39,864,637 and 34,150,591, respectively |  | 39,865      |   |  | 34,151      |  
|Additional paid-in capital                                            |  | 11,686,936  |   |  | 9,647,656   |  
|Share subscriptions
      receivable (Note 10(a))                     |  | (43,469     | ) |  | (43,469     | )
|Accumulated deficit                                                   |  | (12,727,867 | ) |  | (10,575,374 | )
|Accumulated other comprehensive loss                                  |  | (173,440    | ) |  | (83,956     | )
|Total
      Stockholders' Deficit                                     |  | (1,216,811  | ) |  | (1,019,828  | )
|Total Liabilities and Stockholders' Deficit                           |  | 2,254,228   |   |  | 1,489,179   |  

See accompanying notes to the consolidated financial
statements

3

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|MOST HOME CORP.                      
|-------------------------------------
|Consolidated Statements of Operations
|(Expressed in U.S. dollars)          
|(unaudited)                          

|                                                    | For the three |   | For the nine |  
|--------------------------------------------------- | ------------- | - | ------------ | -
|                                                    | months ended  |   | months ended |  
|                                                    | April 30,     |   | April 30,    |  
|                                                    | 2008          |   | 2007         |  
|                                                    | $             |   | $            |  
|Net Revenues                                        | 660,096       |   | 374,962      |  
|Cost of Revenues                                    | 219,693       |   | 235,477      |  
|Gross Margin                                        | 440,403       |   | 139,485      |  
|Operating Expenses                                  |               |   |              |  
|Amortization                                        | 86,342        |   | 38,014       |  
|Research and development                            | 193,395       |   | 137,892      |  
|Selling, general and
      administrative           | 945,088       |   | 754,435      |  
|Acquisition costs                                   | 148,829       |   | -            |  
|Total Operating Expenses                            | 1,373,654     |   | 930,341      |  
|Loss from
      Operations                          | (933,251      | ) | (790,856     | )
|Other Expense                                       |               |   |              |  
|Interest Expense                                    | (13,052       | ) | (57,772      | )
|Total Other Expenses                                | (13,052       | ) | (57,772      | )
|Net Loss for the Period                             | (946,303      | ) | (848,628     | )
|Other Comprehensive Income (Loss)                   |               |   |              |  
|Foreign currency translation adjustments            | 2,679         |   | (78,194      | )
|Comprehensive Loss                                  | (943,624      | ) | (926,822     | )
|Net Loss Per
      Common Share - Basic and Diluted | $(0.03        | ) | $(0.03       | )
|Weighted Average Common Shares Outstanding          | 36,600,000    |   | 31,108,000   |  

See accompanying notes to the consolidated financial
statements

4

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|MOST HOME CORP.                                          
|---------------------------------------------------------
|Consolidated Statements of Stockholders' Equity (Deficit)
|(Expressed in U.S. dollars)                              
|(unaudited)                                              

|                                                        |                          |  |              |  |            |  |               |  |             |   |            |   |             |   | Accumulated   |   |               |  
|------------------------------------------------------- | ------------------------ |  | ------------ |  | ---------- |  | ------------- |  | ----------- | - | ---------- | - | ----------- | - | ------------- | - | ------------- | -
|                                                        |                          |  |              |  |            |  |               |  |             |   |            |   |             |   | Other         |   | Total         |  
|                                                        |                          |  |              |  |            |  |               |  | Additional  |   | Share      |   |             |   | Comprehensive |   | Stockholders' |  
|                                                        | Series A Preferred Stock |  | Common Stock |  | Paid-in    |  | Subscriptions |  | Accumulated |   | Income     |   | Equity      |  
|                                                        | Shares                   |  | Amount       |  | Shares     |  | Amount        |  | Capital     |   | Receivable |   | Deficit     |   | (Loss)        |   | (Deficit)     |  
|                                                        | #                        |  | $            |  | #          |  | $             |  | $           |   | $          |   | $           |   | $             |   | $             |  
|Balance, July 31, 2007                                  | 1,164,183                |  | 1,164        |  | 34,150,591 |  | 34,151        |  | 9,647,656   |   | (43,469    | ) | (10,575,374 | ) | (83,956       | ) | (1,019,828    | )
|Common stock issued for cash pursuant to
      private  |                          |  |              |  |            |  |               |  |             |   |            |   |             |   |               |   |               |  
|placements                                              | -                        |  | -            |  | 3,800,000  |  | 3,800         |  | 1,058,700   |   | -          |   | -           |   | -             |   | 1,062,500     |  
|                                                        |                          |  |              |  |            |  |               |  |             |   |            |   |             |   |               |   |               |  
|Stock issuance costs                                    | -                        |  | -            |  | -          |  | -             |  | (15,250     | ) | -          |   | -           |   | -             |   | (15,250       | )
|Common stock issued pursuant to Asset
      Purchase    |                          |  |              |  |            |  |               |  |             |   |            |   |             |   |               |   |               |  
|Agreement                                               | -                        |  | -            |  | 1,845,046  |  | 1,845         |  | 698,155     |   |            |   |             |   |               |   | 700,000       |  
|Common stock issued pursuant to the exercise
      of   |                          |  |              |  |            |  |               |  |             |   |            |   |             |   |               |   |               |  
|stock options                                           | -                        |  | -            |  | 44,000     |  | 44            |  | 15,356      |   | -          |   | -           |   | -             |   | 15,400        |  
|Fair value of common stock issued for stock
      bonus |                          |  |              |  |            |  |               |  |             |   |            |   |             |   |               |   |               |  
|granted to employees                                    | -                        |  | -            |  | 25,000     |  | 25            |  | 9,975       |   | -          |   | -           |   | -             |   | 10,000        |  
|                                                        |                          |  |              |  |            |  |               |  |             |   |            |   |             |   |               |   |               |  
|Fair value of stock options
      vested                | -                        |  | -            |  | -          |  | -             |  | 272,344     |   | -          |   | -           |   | -             |   | 272,344       |  
|                                                        |                          |  |              |  |            |  |               |  |             |   |            |   |             |   |               |   |               |  
|Foreign currency translation
      adjustment           | -                        |  | -            |  | -          |  | -             |  | -           |   | -          |   | -           |   | (89,484       | ) | (89,484       | )
|                                                        |                          |  |              |  |            |  |               |  |             |   |            |   |             |   |               |   |               |  
|Net loss for the period                                 | -                        |  | -            |  | -          |  | -             |  | -           |   | -          |   | (2,152,493  | ) | -             |   | (2,152,493    | )
|Balance, April 30, 2008                                 | 1,164,183                |  | 1,164        |  | 39,864,637 |  | 39,865        |  | 11,686,936  |   | (43,469    | ) | (12,727,867 | ) | (173,440      | ) | (1,216,811    | )

See accompanying notes to the consolidated financial
statements

5

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|MOST HOME CORP.                      
|-------------------------------------
|Consolidated Statements of Cash Flows
|(Expressed in U.S. dollars)          
|(unaudited)                          

|                                                                      |  | For the nine months ended |  
|--------------------------------------------------------------------- |  | ------------------------- | -
|                                                                      |  | April 30,                 |  
|                                                                      |  | 2008                      |  
|                                                                      |  | $                         |  
|Operating Activities                                                  |  |                           |  
|Net loss for the period                                               |  | (2,152,493                | )
|Adjustments to reconcile net loss to
      net cash used in operating |  |                           |  
|activities:                                                           |  |                           |  
|Amortization                                                          |  | 160,231                   |  
|Stock-based compensation                                              |  | 282,344                   |  
|Changes in operating assets and
      liabilities:                    |  |                           |  
|Accounts receivable                                                   |  | 49,426                    |  
|Prepaid expenses                                                      |  | 8,518                     |  
|Due from related party                                                |  | (3,435                    | )
|Accounts payable                                                      |  | 173,308                   |  
|Accrued liabilities                                                   |  | 382,964                   |  
|Deferred revenue                                                      |  | (39,665                   | )
|Net Cash Used In Operating Activities                                 |  | (1,138,802                | )
|Investing Activities                                                  |  |                           |  
|Purchases of property
      and equipment                             |  | (2,864                    | )
|Cash received in acquisition of
      business                        |  | 100                       |  
|Deferred acquisition costs                                            |  | 33,042                    |  
|Net Cash Provided By (Used In) Investing Activities                   |  | 30,278                    |  
|Financing Activities                                                  |  |                           |  
|Increase (repayment) in short-term bank
      borrowings              |  | (24,911                   | )
|Proceeds from loans
      payable                                     |  | -                         |  
|Repayment of loans payable                                            |  | (17,563                   | )
|Proceeds from issuances
      of common stock                         |  | 1,077,900                 |  
|Stock issuance costs                                                  |  | (15,250                   | )
|Advances from related
      parties                                   |  | 147,717                   |  
|Repayment to related parties                                          |  | (47,709                   | )
|Net Cash Provided By Financing Activities                             |  | 1,120,184                 |  
|Effect of Exchange
      Rate Changes on Cash                         |  | (22,896                   | )
|Decrease in Cash                                                      |  | (11,236                   | )
|Cash, Beginning of
      Period                                       |  | 18,443                    |  
|Cash, End of Period                                                   |  | 7,207                     |  
|                                                                      |  |                           |  
|Non-cash Investing and Financing Activities                           |  |                           |  
|Common stock issued in acquisition of business                        |  | 700,000                   |  
|Loans payable transferred to common
      shares                      |  | -                         |  
|Supplemental Disclosures:                                             |  |                           |  
|Interest paid                                                         |  | 56,416                    |  
|Income taxes paid                                                     |  | -                         |  

See accompanying notes to the consolidated financial
statements

6

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|MOST HOME CORP.                               
|----------------------------------------------
|Notes to the Consolidated Financial Statements
|(Expressed in U.S. dollars)                   
|(unaudited)                                   

|1. | Nature of Operations and Continuance of
      Business                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                
|-- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       
|   | Most Home Corp. (the "Company") was incorporated under
      the laws of the State of Nevada on June 4, 1997. On April 28, 2000, the
      Company acquired two Canadian corporations in a series of transactions
      that were accounted for using the purchase method. Prior to the purchase,
      the Company was in the development stage as it was devoting substantially
      all of its efforts to the identification and development of new business
      opportunities. On February 1, 2008, the Company acquired the net assets of
      Netupdate, Inc. constituting its business under an Asset Purchase
      Agreement. The Company's primary business activity is providing lead
      acquisition, response and management services to real estate brokers,
      agents, banks and mortgage brokers across North America, along with
      website and wireless realty products.
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       
|   | These consolidated financial statements are prepared in
      conformity with accounting principles generally accepted in the United
      States applicable to a going concern, which contemplates the realization
      of assets and discharge of liabilities in the normal course of business.
      The Company has incurred recurring losses and negative cash flows from
      operations and as at April 30, 2008 has an accumulated deficit of
      $12,727,867. The Company also had a working capital deficit of $3,111,409
      as at April 30, 2008. These factors raise substantial doubt regarding the
      Company's ability to continue as a going concern. These financial
      statements do not include any adjustments that might result from the
      outcome of this uncertainty.                                                                                         
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       
|   | Additional debt or equity financing of approximately
      $4,000,000 will be required for the next twelve months and may not be
      available on reasonable terms. Management's intention is to generate
      sufficient financing through the sale of common stock, the exercise of
      outstanding stock options and warrants, and also by an increased level of
      revenues generated. There can be no certainty that these sources will
      provide the additional funds required for the next twelve
months.                                                                                                                                                                                                                                                                                                                                                                          
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       
|2. | Significant Accounting Policies                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       
|   | (a)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       

7

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|MOST HOME CORP.                               
|----------------------------------------------
|Notes to the Consolidated Financial Statements
|(Expressed in U.S. dollars)                   
|(unaudited)                                   

|2. | Significant Accounting Policies
  (continued)
|-- | ---------------------------------------------
|   |                                              
|   | (b)                                          
|   |                                              
|   |                                              
|   |                                              
|   | (c)                                          
|   |                                              
|   |                                              
|   |                                              
|   | (d)                                          
|   |                                              
|   |                                              
|   |                                              
|   | (e)                                          
|   |                                              
|   |                                              

8

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|MOST HOME CORP.                               
|----------------------------------------------
|Notes to the Consolidated Financial Statements
|(Expressed in U.S. dollars)                   
|(unaudited)                                   

|2. | Significant Accounting Policies
  (continued)
|-- | ---------------------------------------------
|   |                                              
|   | (f)                                          
|   |                                              
|   |                                              

Computer hardware
    30% declining balanceComputer software
    100% declining balanceLeasehold improvements
    Straight-line over lease termOffice equipment
    20% declining balance


| | (g) | Intangible Assets                                                                                           
| | --- | ------------------------------------------------------------------------------------------------------------
| |     |                                                                                                             
| |     | Intangible assets are recorded at cost and are amortized
      over their estimated useful lives as follows:

Customer list
    Straight-line over 3 yearsTechnology
    Straight-line over 4 yearsWebsite development costs
    Straight-line over 2 years


| | (h) | Deferred Acquisition Costs                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
| | --- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| |     |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               
| |     | Direct costs incurred in contemplation of a business
      acquisition are deferred until the purchase transaction is either
      completed or abandoned.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
| |     |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               
| | (i) | Software Development Costs                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
| |     |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               
| |     | The Company accounts for software development costs in
      accordance with Statement of Financial Accounting Standard ("SFAS") No.
      86, "Accounting for Costs of Computer Software to be Sold, Leased, or
      otherwise Marketed", which requires companies to expense software
      development costs as they incur them until technological feasibility has
      been established, at which time those costs are capitalized until the
      product is available for release to the customer. Software development
      costs are included in research and development costs on the statement of
      operations.                                                                                                                                                                                                                                                             
| |     |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               
| | (j) | Website Development Costs                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     
| |     |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               
| |     | The Company recognizes the costs associated with
      developing a website in accordance with the American Institute of
      Certified Public Accountants Statement of Position No. 98-1, "Accounting
      for the Costs of Computer Software Developed of Obtained for Internal
      Use". Relating to website development costs, the Company follows the
      guidance pursuant to Emerging Issues Task Force 00-02, "Accounting for
      Website Development Costs". Under these standards, website development,
      including customizing database software, development of HTML web page
      templates and installation of servers as well as significant upgrades and
      enhancements, are capitalized. Routine website maintenance costs,
      operating costs and costs associated with modifications that do not
      increase functionality are expensed as incurred.

9

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|MOST HOME CORP.                               
|----------------------------------------------
|Notes to the Consolidated Financial Statements
|(Expressed in U.S. dollars)                   
|(unaudited)                                   

|2. | Significant Accounting Policies
  (continued)
|-- | ---------------------------------------------
|   |                                              
|   | (k)                                          
|   |                                              
|   |                                              
|   |                                              
|   | (l)                                          
|   |                                              
|   |                                              
|   |                                              
|   | (m)                                          
|   |                                              
|   |                                              
|   |                                              
|   |                                              
|   |                                              
|   |                                              
|   |                                              
|   |                                              
|   |                                              
|   |                                              
|   |                                              
|   |                                              

10

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|MOST HOME CORP.                               
|----------------------------------------------
|Notes to the Consolidated Financial Statements
|(Expressed in U.S. dollars)                   
|(unaudited)                                   

|2. | Significant Accounting Policies
  (continued)
|-- | ---------------------------------------------
|   |                                              
|   | (n)                                          
|   |                                              
|   |                                              
|   |                                              
|   |                                              
|   |                                              
|   | (o)                                          
|   |                                              
|   |                                              
|   |                                              
|   | (p)                                          
|   |                                              
|   |                                              
|   |                                              
|   | (q)                                          
|   |                                              
|   |                                              

11

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|MOST HOME CORP.                               
|----------------------------------------------
|Notes to the Consolidated Financial Statements
|(Expressed in U.S. dollars)                   
|(unaudited)                                   

|2. | Significant Accounting Policies
  (continued)
|-- | ---------------------------------------------
|   |                                              
|   | (r)                                          
|   |                                              
|   |                                              
|   |                                              
|   | (s)                                          
|   |                                              
|   |                                              
|   |                                              
|   |                                              
|   |                                              
|   | (t)                                          
|   |                                              
|   |                                              
|   |                                              
|   | (t)                                          
|   |                                              
|   |                                              
|   |                                              
|   |                                              

12

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|MOST HOME CORP.                               
|----------------------------------------------
|Notes to the Consolidated Financial Statements
|(Expressed in U.S. dollars)                   
|(unaudited)                                   

|2. | Significant Accounting Policies
  (continued)
|-- | ---------------------------------------------
|   |                                              
|   | (u)                                          
|   |                                              
|   |                                              
|   |                                              
|   |                                              
|   |                                              
|   |                                              
|   |                                              
|   |                                              
|   |                                              
|   |                                              

13

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|MOST HOME CORP.                               
|----------------------------------------------
|Notes to the Consolidated Financial Statements
|(Expressed in U.S. dollars)                   
|(unaudited)                                   

|2. | Significant Accounting Policies
  (continued)
|-- | ---------------------------------------------
|   |                                              
|   | (u)                                          
|   |                                              
|   |                                              
|   |                                              
|   |                                              
|   |                                              
|   |                                              
|   |                                              
|   |                                              

14

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|MOST HOME CORP.                               
|----------------------------------------------
|Notes to the Consolidated Financial Statements
|(Expressed in U.S. dollars)                   
|(unaudited)                                   

|2. | Significant Accounting Policies
  (continued)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
|-- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  
|   | (v)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  
|3. | Business Acquisition                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  
|   | On February 1, 2008, the Company completed its purchase
      of the net assets and assumed liabilities of Netupdate, Inc.
      (Netupdate), constituting its business operations, pursuant to the terms
      and conditions of the Asset Purchase Agreement dated January 11, 2008 (the
      Agreement). Based in Bellevue, Washington, Netupdate, a developer of
      lending technologies, offers Originator Pro, an integrated, online
      point-of-sale system for retail and wholesale lenders who want to increase
      business from the Internet. Netupdate's software solution allows mortgage
      professionals to work together online to collect borrower information,
      provide regular communication and status updates, and to move loan data to
      loan origination systems; significantly reducing the time, cost and
      complexity of these financial transactions.    
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  
|   | The purchase price of $700,000 consisted of 1,845,046
      shares in the Companys common stock valued at $700,000, plus the right to
      an earn-out up to an additional $2 million worth of common stock. Earn-out
      shares are calculated based on revenues of Netupdate over the three fiscal
      year-end periods following the date of acquisition. Management is of the
      opinion that the distribution of earn-out shares is not reasonably assured
      and therefore has not been included in the valuation of the acquisition.
      Details of this acquisition were filed with the SEC on a Form 8-k, dated
      January 16, 2008. The value of the Companys common stock was determined
      based on the average volume-weighted market price of the Companys common
      stock over the 20-day period prior the signing of the Definitive Agreement
      on January 11, 2008.
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  
|   | This business acquisition was accounted for as a business
      purchase combination. The total cost of the acquisition was allocated to
      the assets acquired and liabilities assumed based on their respective fair
      values in accordance with SFAS 141, Business Combinations. Goodwill and
      other intangible assets, is deductible for tax purposes, recorded in
      connection with the transaction totaled $969,377.                                                                                                                                                                                                                                                                                                                                                                                                                                                                       
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  
|   | The following table summarizes the allocation of the
      purchase price to the estimated fair values of the assets acquired and
      liabilities assumed at the date of
acquisition:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          

$Cash
    100Trade receivables
    31,210Prepaid expenses
    21,669Property and equipment
    62,739Intangible assets
    518,514Goodwill
    450,863Accounts payable and accrued liabilities
    (145,370)Deferred revenue
    (239,725)Total Purchase Price
    700,000


15

---

|MOST HOME CORP.                               
|----------------------------------------------
|Notes to the Consolidated Financial Statements
|(Expressed in U.S. dollars)                   
|(unaudited)                                   

|3. | Business Acquisition (continued)                                                                                                                                                                                                                                                                                                                                                                                                                                        
|-- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                         
|   | Of the $518,514 in acquired intangible assets, $280,042 was assigned to customers that have a weighted-average useful life of approximately three years and $238,472 was assigned to technology that has a weighted-average useful life of approximately three years. The fair values assigned to assets acquired and liabilities assumed in the acquisition are based on a preliminary valuation that is expected to be finalized in the fourth quarter of fiscal 2008.
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                         
|4. | Property and Equipment                                                                                                                                                                                                                                                                                                                                                                                                                                                  

April 30,
    
    
    July 31,2008
    
    
    2007Accumulated
    
    
    Net Carrying
    
    
    Net CarryingCost
    
    
    Amortization
    
    
    Value
    
    
    Value$
    
    
    $
    
    
    $
    
    
    $Computer hardware
    
    382,464
    
    
    291,293
    
    
    91,171
    
    
    72,830Computer software
    
    71,242
    
    
    64,189
    
    
    7,053
    
    
    446Leasehold improvements
    
    71,366
    
    
    71,366
    
    
    -
    
    
    1,792Office equipment
    
    134,832
    
    
    87,607
    
    
    47,225
    
    
    30,066659,904
    
    
    514,455
    
    
    145,449
    
    
    105,134


Amortization expense totalled $31,522 and $37,441 for the nine month ended April 30, 2008 and 2007, respectively.

|5. | Intangible Assets
|-- | -----------------

April 30,
    
    
    July 31,2008
    
    
    2007Accumulated
    
    
    Net Carrying
    
    
    Net CarryingCost
    
    
    Amortization
    
    
    Value
    
    
    Value$
    
    
    $
    
    
    $
    
    
    $Customer list
    
    469,042
    
    
    201,837
    
    
    267,205
    
    
    57,750Technology
    
    442,473
    
    
    164,373
    
    
    278,100
    
    
    97,750Website development costs
    
    470,972
    
    
    469,602
    
    
    1,370
    
    
    1,2941,382,486
    
    
    835,812
    
    
    546,675
    
    
    156,794


Amortization expense totalled $128,710 and $85,500 for the nine month ended April 30, 2008 and 2007, respectively.

The following is the estimated annual
amortization expense for each of the next five years:

$2008
    67,8302009
    219,5882010
    172,8382011
    86,4192012
    -546,675


16

---

|MOST HOME CORP.                               
|----------------------------------------------
|Notes to the Consolidated Financial Statements
|(Expressed in U.S. dollars)                   
|(unaudited)                                   

|6. | Goodwill
|-- | --------

April 30,
    
    
    July 31,2008
    
    
    2007Accumulated
    
    
    Net Carrying
    
    
    Net CarryingCost
    
    
    Amortization
    
    
    Value
    
    
    Value$
    
    
    $
    
    
    $
    
    
    $Most Referred®
    
    996,082
    
    
    415,032
    
    
    581,050
    
    
    581,050Executive Wireless
    
    173,842
    
    
    -
    
    
    173,842
    
    
    173,842Netupdate
    
    450,863
    
    
    -
    
    
    450,863
    
    
    -1,620,787
    
    
    415,032
    
    
    1,205,755
    
    
    754,892


|   | Goodwill for Most Referred® originated from the
      acquisition on April 28, 2000, which was amortized to April 30, 2001.
      Goodwill for Executive Wireless originated from the acquisition of
      Executive Wireless, Inc. on June 13, 2005. Goodwill for Netupdate
      originated from the acquisition of net assets of Netupdate, Inc. on
      February 1, 2008 (Note 3).
|-- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|   |                                                                                                                                                                                                                                                                                                                                                                                        
|7. | Short-term Bank
Borrowings                                                                                                                                                                                                                                                                                                                                                             

April 30,
    
    
    July 31,2008
    
    
    2007$
    
    
    $Canadian dollar bank line of credit bearing interest at
      lender prime plus1.25% per annum and secured by a general
      security agreement.
    
    99,285
    
    
    93,738Bank overdraft
    
    32,193
    
    
    62,651131,478
    
    
    156,389


|8. | Accrued Liabilities
|-- | -------------------

April 30,
    
    
    July 31,2008
    
    
    2007$
    
    
    $Payroll deductions, salaries and benefits
    
    1,265,752
    
    
    814,200Professional fees
    
    30,000
    
    
    63,348Sales tax and other
    
    157,167
    
    
    105,5781,452,919
    
    
    983,126


|9. | Loans Payable
|-- | -------------
|   |              
|   | (a)          
|   |              
|   | (b)          

17

---

|MOST HOME CORP.                               
|----------------------------------------------
|Notes to the Consolidated Financial Statements
|(Expressed in U.S. dollars)                   
|(unaudited)                                   

|10. | Related Party Transactions
|--- | --------------------------
|    |                           
|    | (a)                       
|    |                           
|    | (b)                       
|    |                           
|    | (c)                       
|    |                           
|11. | Capital Stock             
|    |                           
|    | (a)                       

250,000,000
    
    Common stock, par value of
      $0.001 per sharePreferred stock, par value $0.001 per share,
      designated as100,000,000
    
    follows:4,500,000
    
    Series A preferred stock92,000,000
    
    Unissued and
      undesignated


Each share of the Company's Series A
preferred stock is entitled to one vote on all matters submitted to a vote of
the Company's stockholders. The Series A preferred stock are not entitled to any
dividends or any distributions upon the liquidation of the Company.

One Series A preferred share of the
Company together with one preferred share of Most Home Management Ltd., a
wholly-owned subsidiary, may be exchanged for one share of the Company's common
stock at the holder's option.

On July 27, 2007, the Company filed a
Certificate of Withdrawal of Certificate of Designation with the Nevada
Secretary of State canceling the authorized 1,750,000 Series C Preferred Stock,
with a par value of $0.001 per share, of which this series does not have any
outstanding shares:

On August 18, 2007, the Company filed a Certificate of
  Withdrawal of Certificate of Designation with the Nevada Secretary of State
  canceling the authorized 3,500,000 Series B Preferred Stock, with a par value of
  $0.001 per share, of which this series does not have any outstanding shares. The
  rights and preferences of the unissued and undesignated preferred shares have
  not been determined.

18

---

|MOST HOME CORP.                               
|----------------------------------------------
|Notes to the Consolidated Financial Statements
|(Expressed in U.S. dollars)                   
|(unaudited)                                   

|11. | Capital Stock                                                                               
|--- | --------------------------------------------------------------------------------------------
|    |                                                                                             
|(b) | The common share transactions for the nine months
      ended April 30, 2008 are as follows:
|    |                                                                                             
|    | (i)                                                                                         
|    |                                                                                             
|    | (ii)                                                                                        
|    |                                                                                             
|    | (iii)                                                                                       
|    |                                                                                             
|    | (iv)                                                                                        
|    |                                                                                             
|    | (v)                                                                                         
|    |                                                                                             
|    | (vi)                                                                                        
|    |                                                                                             
|    | (vi)                                                                                        
|    |                                                                                             
|    | (vii)                                                                                       
|    |                                                                                             
|    | (viii)                                                                                      

19

---

|MOST HOME CORP.                               
|----------------------------------------------
|Notes to the Consolidated Financial Statements
|(Expressed in U.S. dollars)                   
|(unaudited)                                   

|12. | Stock-based Compensation                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           
|--- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
|    | Stock Compensation Plans                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           
|    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
|    | The Company's 2000 Stock Bonus Plan authorizes the
      issuance of 500,000 shares of common stock to the Company's employees,
      directors, officers, consultants and advisors provided however, that bona
      fide services must be rendered by consultants or advisors and such
      services must not be in connection with the offer or sale of securities in
      a capital-raising transaction. A total of 1,944 common shares under this
      plan remain available for issuance                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  
|    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
|    | The Company's 2004 Stock Bonus Plan authorizes the
      issuance of 2,000,000 shares of common stock to the Company's employees,
      directors, officers, consultants and advisors provided however, that bona
      fide services must be rendered by consultants or advisors and such
      services must not be in connection with the offer or sale of securities in
      a capital-raising transaction. A total of 1,314,173 common shares under
      this plan remain available for issuance.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           
|    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
|    | The Company has an incentive stock option plan that
      authorizes the issuance of 3,500,000 options to purchase shares of the
      Company's common stock. Only officers, directors, and employees of the
      Company may be granted options pursuant to the Incentive Stock Option
      Plan. The total fair market value of the shares of common stock
      (determined at the time of the grant of the option) for which any employee
      may be granted options which are first exercisable in any calendar year
      may not exceed $100,000. Options vest after one year following the date of
      grant. Options granted to an employee then owning more than 10% of the
      common stock of the Company may not be exercisable after five years from
      the date of grant. The purchase price per share of common stock,
      purchasable under an option, is determined by the Company's Board of
      Directors but cannot be less than the fair market value of the common
      stock on the date of the grant of the option. A total of 705,000 stock
      options under this plan remain available for issuance.
|    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
|    | The Company has a non-qualified stock option plan which
      authorizes the granting of 4,500,000 stock options to purchase shares of
      the Company's common stock to the Company's employees, directors,
      officers, consultants or advisors and such services. The stock option
      exercise price and expiration date are determined by the Company's Board
      of Directors. During fiscal 2006, the total number of stock options
      authorized to be granted under this plan was increased by 1,000,000. A
      total of 783,280 stock options under this plan remain available for
      issuance.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         
|    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
|    | Stock Option Activity                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              
|    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
|    | A summary of the Company's stock option activity is as
      follows:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              

WeightedWeighted
    
    
    AverageAverage
    
    
    Remaining
    
    
    AggregateExercise
    
    
    Contractual
    
    
    IntrinsicNumber of
    
    
    Price
    
    
    Life
    
    
    ValueOptions
    
    
    $
    
    
    (years)
    
    
    $Balance, July 31, 2007
    
    4,692,720
    
    
    0.49Issued
    
    2,565,000
    
    
    0.35Exercised
    
    (44,000
    )
    
    0.35Expired
    
    (3,015,000
    )
    
    0.48Forfeited
    
    (15,000
    )
    
    0.50Balance, April 30,
      2008
    
    4,183,720
    
    
    0.41
    
    
    2.24
    
    
    -Exercisable April 30, 2008
    
    1,913,720
    
    
    0.48
    
    
    1.70
    
    
    -


The total fair value of stock-based
compensation vested during the nine month period ended April 30, 2008 was
$163,374.

20

---

|MOST HOME CORP.                               
|----------------------------------------------
|Notes to the Consolidated Financial Statements
|(Expressed in U.S. dollars)                   
|(unaudited)                                   

|12. | Stock-based Compensation (continued)                                                                                    
|--- | ------------------------------------------------------------------------------------------------------------------------
|    |                                                                                                                         
|    | Stock Option Activity (continued)                                                                                       
|    |                                                                                                                         
|    | The total intrinsic value of stock options exercised
      during the nine month period ended April 30, 2008 was
  $nil.

Weighted AverageNumber
    Grant Dateof
    Fair ValueShares
    $Nonvested, July 31, 2007
    320,000
    0.56Issued
    2,565,000
    0.35Forfeited
    (15,000)
    0.50Vested
    (600,000)
    0.46Nonvested, April 30, 2008
    2,270,000
    0.35


As at April 30, 2008, there was $378,457 of total unrecognized
compensation cost related to non-vested share-based compensation arrangements.
The cost is expected to be recognized over a weighted average period of one
year.

The fair value of stock options granted was calculated using
the Black-Scholes option pricing model based upon the following weighted average
assumptions:

Three and nine months
    Three and nine monthsended April 30, 2008
    ended April 30, 2007Expected life
    4 years
    1 yearExpected volatility
    156%
    120%Expected dividend yield
    0%
    0%Risk free interest rate
    2.76%
    4.72%Grant date fair value per option
    $0.26
    $0.48


|13. | Share Purchase Warrants                                                                      
|--- | ---------------------------------------------------------------------------------------------
|    |                                                                                              
|    | The following table summarizes the continuity of the
      Company's share purchase warrants:

Weighted AverageNumber of
    Exercise PriceWarrants
    $Balance, July 31, 2007
    8,407,488
    0.52Expired
    (1,006,001)
    0.70Issued
    3,800,000
    0.45Balance, April 30,
      2008
    11,201,487
    0.48


21

---

|MOST HOME CORP.                               
|----------------------------------------------
|Notes to the Consolidated Financial Statements
|(Expressed in U.S. dollars)                   
|(unaudited)                                   

|13. | Share Purchase Warrants (continued)                                                
|--- | -----------------------------------------------------------------------------------
|    |                                                                                    
|    | As at April 30, 2008, the following share purchase
      warrants were outstanding:

ExerciseNumber of
    PriceWarrants
    $
    Expiry Date25,000
    0.20
    August 28, 2008416,667
    0.33
    October 20, 200883,333
    0.33
    November 6, 2008583,333
    0.33
    November 27, 2008500,000
    0.33
    December 8, 2008166,667
    0.33
    December 21, 2008221,666
    0.50
    March 27, 2009213,500
    0.50
    April 3, 20091,215,071
    0.50
    April 5, 2009200,000
    0.91 - 1.46
    May 9, 2009300,000
    0.324
    July 28, 2009335,000
    0.75
    October 3, 2009186,250
    0.60
    December 4, 2009375,000
    0.60
    February 7, 2010250,000
    0.60
    February 18, 2010250,000
    0.60
    March 4, 2010230,000
    0.60
    March 6, 2010250,000
    0.65
    April 10, 2010500,000
    0.64
    May 14, 2010250,000
    0.64
    June 28, 2010250,000
    0.65
    July 30, 2010750,000
    0.64
    August 9, 2010400,000
    0.40
    October 31, 2010190,000
    0.40
    November 30, 2010190,000
    0.40
    December 31, 2010190,000
    0.40
    February 1, 20111,400,000
    0.40
    February 21, 2011600,000
    0.40
    March 28, 201180,000
    0.40
    April 23, 201111,201,487


22

---

|MOST HOME CORP.                               
|----------------------------------------------
|Notes to the Consolidated Financial Statements
|(Expressed in U.S. dollars)                   
|(unaudited)                                   

|14. | Commitments                                                                                                            
|--- | -----------------------------------------------------------------------------------------------------------------------
|    |                                                                                                                        
|    | The Company's minimum payments required under operating
      leases for equipment are as follows as at April 30,
2008:

$2008
    7,7032009
    3,10110,804


The Company did not have a signed
office lease as of April 30, 2008. (see Note 16(c))

|15. | Segmented Information                                                                                                                                                                                                                                                                                                                                                       
|--- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|    |                                                                                                                                                                                                                                                                                                                                                                             
|    | Management has determined that the Company operates in
      one operating segment which involves the generation of real estate and
      mortgage referrals. Substantially all of the Company's operations, assets
      and employees are located in Canada. However, substantially all of the
      Company's revenues are from customers located in the United
  States.
|    |                                                                                                                                                                                                                                                                                                                                                                             
|16. | Subsequent Events                                                                                                                                                                                                                                                                                                                                                           
|    |                                                                                                                                                                                                                                                                                                                                                                             
|    | (a)                                                                                                                                                                                                                                                                                                                                                                         
|    |                                                                                                                                                                                                                                                                                                                                                                             
|    | (b)                                                                                                                                                                                                                                                                                                                                                                         
|    |                                                                                                                                                                                                                                                                                                                                                                             
|    | (c)                                                                                                                                                                                                                                                                                                                                                                         

$2008
    25,6992009
    154,1942010
    154,1942011
    128,495462,582


23

---

Item 2. Management's Discussion and Analysis or Plan of
Operations

Overview

Most Home provides marketing and technology services to real
estate professionals, including real estate agents and mortgage brokers. The
Companys products include Wireless Realty, a mobile application that enables
more than 370,000 Realtors® to get real-time MLS information on their mobile
phones and instantly respond to sales inquires and MostReferred.com® a national
network of real estate professionals who have been peer-selected as exceptional
customer service professionals. Most Home also operates a national contact
center staffed by licensed Realtors® that support our products by providing lead
response and management services to clients such as Prudential, RE/MAX® and
Keller-Williams®. On February 1, 2008, the Company completed the acquisition of
the net assets, constituting the business operations, of Netupdate, Inc., a lead
acquisition and management system for banks and loan officers.

Wireless Realty

Most Homes Wireless Realty product line has achieved
significant subscriber growth over the past 8 quarters. For the Quarter ending
April 30, 2008 (Q3) the product is available in 30 regions in the US and
Canada through 140 Realtor associations making it available to approximately
370,000 real estate professionals making it the most widely adopted mobile
solution for the real estate industry. In Q3, the Company deployed in 4 new
markets, including Southern California, and on total has achieved an uptake rate
of 10%. Management believes the Wireless Realty product represents the fastest
growth and highest margin opportunity for Most Home, as a result of our leading
market share, industry partnerships, and advances in mobile handsets and
networks. During the quarter ended April 30, 2008, Most Home released a major
upgrade to its technology platform that consolidates the product into a single
code base making it significantly easier to enhance, upgrade, and deploy in new
markets. The Company also announced an add-on to Wireless Realty that enables
the public to search for homes using their mobile phones.

The Company is also actively engaged in researching and
developing device specific applications for the Apple iPhone® and Research In
Motion Blackberry® platforms that take advantage of location based services
(GPS), multimedia, and broadband speed networks. In 2009, management expects the
mobile consumer experience running these applications to rival the capabilities
of searching traditional portals with the added advantage of having information
available while you drive through a neighborhood.

In Q3, the Company increased its development staff for the
mobile platform and consolidated sales and marketing efforts around gaining
market share and driving high margin mobile business.

MostReferred.com®

After several years of operating our MostReferred.com® portal
without any significant upgrades or enhancements, the Company is now investing
in transitioning the content to its mobile platform. This will be a cornerstone
to enabling the public to search and connect with Most Referred® Real Estate
professionals through our Wireless Realty product. Management expects this
upgrade, along with a new business model that transitions from variable referral
revenue to a flat monthly fee for members, to create renewed growth for this
product.

eTeam Lead Management Services

In February 2008, the Company announced a preferred supplier
agreement with Keller-Williams and has implemented eTeam services in 6 market
areas. The service has been very well received and, as a result, management
anticipates increased revenues for these services. The company also completed an
upgrade to its lead management platform, which drives further efficiencies in
its contact center and provides customers with real-time insight into lead
activity. Although this service has been negatively impacted by the downturn in
the U.S. housing market, Most Home is in the process of integrating the service
as a value-add to its Wireless Realty platform, which will enable the Companys
eTeam to respond to and connect inquiries with Realtors® as clients are driving
through a neighborhood. During the three months ended April 30, 2008, the
Company received notification from RE/MAX Western-Canada, and RE/MAX
Ontario-Atlantic that they will be

24

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discontinuing their Data Aggregation and Lead Management
Services contracts effective on July 31, 2008. Management is currently
renegotiating the lead management services contract, but in the interim the
Company has reallocated development resources to the wireless and mobility
platform.

Purchase of net assets and assumed liabilities of Netupdate,
Inc. constituting its business operations.

On February 1, 2008, the Company completed its purchase of the
operating assets of Netupdate, Inc. pursuant to the terms and conditions of the
Asset Purchase Agreement dated January 11, 2008 (the Agreement). Based in
Bellevue, Washington, Netupdate is a developer of lending technologies, offers
Originator Pro, an integrated, online point-of-sale system for retail and
wholesale lenders who want to increase business from the Internet. Netupdate's
Software as a Solution allows mortgage professionals to work together online to
collect borrower information, provide regular communication and status updates,
and to move loan data to loan origination systems, significantly reducing the
time, cost and complexity of these financial transactions.

The purchase price of $700,000 consisted of $700,000 in the
Companys common stock, representing approximately 1,845,046 shares, plus the
right to an earn-out up to an additional $2 million worth of common stock.
Earn-out shares are calculated based on revenues of Netupdate over the three
fiscal year-end periods following the date of acquisition. Details of this
acquisition were filed with the SEC on a Form 8-k, dated January 16, 2008. The
value of the common stock was determined based on the average volume-weighted
market price of Most Home Corp. common stock over the 20-day period prior the
signing of the definitive agreement on January 11, 2008.

The total cost of the acquisition was allocated to the assets acquired and liabilities assumed based on their respective fair values in accordance with SFAS 141, Business Combinations. Goodwill and other intangible assets recorded in connection with the transaction totaled $969,377.  The fair values of assets acquired and liabilities assumed in the acquisition are based on a preliminary valuation that is expected to be finalized in the fourth quarter of fiscal 2008.

Since acquiring the Netupdate operations, management has moved
aggressively to align expenses with revenues and to pursue new growth
initiatives. The Company is evaluating potential cross marketing opportunities
with our existing real estate operations to enhance future revenues for itself
and its customers.

Netupdate currently provides its point-of-sale solutions to
over 100 retail and wholesale lenders and is focusing future efforts on
addressing the needs of these customers for additional mortgage lead generation
and management.

While the mortgage market is experiencing significant
challenges at this time, Most Home believes there continues to be opportunity
within the space and is looking forward to realizing the potential of this
acquisition.

The Company is pleased with the progress achieved in the past
quarter related to the integration with Most Homes existing operations.

Employees. As of June 19, 2008, the Company employed 31
people, including 4 contractors on a part-time basis, and 9 employees are
licensed REALTORS(R).

Revenues and expenses

The following table shows revenues and margins for the three
months ended April 30, 2008, with comparative figures for the prior:

| |                       | Three months   |  |                  |  | Three months   |  |                  | 
| | --------------------- | -------------- |  | ---------------- |  | -------------- |  | ---------------- | 
| |                       | ended          |  |                  |  | ended          |  |                  | 
| |                       | April 30, 2008 |  |                  |  | April 30, 2007 |  |                  | 
| |                       | $              |  | % of
      Sales |  | $              |  | % of
      Sales | 
| | Revenues:             |                |  |                  |  |                |  |                  | 
| |                       |                |  |                  |  |                |  |                  | 
| | Referrals             | 171,335        |  | 26.0             |  | 105,110        |  | 28.0             | 
| | Membership            | 72,815         |  | 11.0             |  | 86,183         |  | 23.0             | 
| | Enterprise            | 256,020        |  | 38.8             |  | 62,146         |  | 16.6             | 
| | Wireless and mobility | 157,266        |  | 23.8             |  | 103,872        |  | 27.7             | 
| | Other                 | 2,660          |  | 0.4              |  | 17,651         |  | 4.7              | 
| |                       | 660,096        |  | 100.0            |  | 374,962        |  | 100.0            | 

25

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Referral revenue increased $66,225 (63.0%) from the three
months ended April 30, 2007. The increase in referral revenues for the three
months ended April 30, 2008 was the result of a combined change in billing on a
per-lead basis to brokers, along with increased leads generated through the
Company's websites listed on Internet search engine portals from Q1 of fiscal
2007. Approximately 10% (50% - 2007) of the Company's leads have a direct
correlation to the ranking of the Company's lead generating websites on Internet
portals such as Google, Yahoo, MSN and Inktomi. The reduction in leads generated
from Internet portals is directly related to the Companys change in business
model in selling to brokers and handling their leads directly as opposed to
generating the Companys own leads. Once a qualified lead is and placed with an
associated agent, the Company enters into a contract with the agent and receives
a success fee based on the agent's gross commission; however, if the lead
relates to a fixed per-lead contract with a broker customer then the Company is
paid up front for all qualified leads and does not receive a success fee upon a
completed real estate transaction. The Company is continuing to transition
towards generating and managing leads through third-parties, and charging a
per-lead or per-qualified-lead fee rather than on a success fee basis; in order
to reduce its exposure to search engine uncertainty. In addition the Company is
shifting its focus from agent based revenue models to broker based revenue
models.

Membership revenues decreased $13,368 (15.5%) from the three
months ended April 30, 2007. This decrease is due to the Company changing its
product and marketing strategy away from agents and towards there wireless and
mobility and brokers services. This contributes to the decline in the agent
membership revenues. The sales structure under the broker model is comprised of
a license, shared transaction commissions or per-lead fees, and maintenance
revenue.

Enterprise revenues increased $193,874 (312.0%) for the three
months ended April 30, 2008. The increase is due to a change in the Companys
revenue model and associated increased sales to real estate brokers for the
three months ended April 30, 2008. In addition, sales of Originator Pro, a
product that enables financial institutions to: capture leads at referral
source, open new channels of business, pre-approve borrowers on-line, match
borrowers to live products, and speed up loan applications, acquired from
Netupdate, Inc. on February 1, 2008, contributed to the increased revenues for
the three months ended April 30, 2008.

Wireless and mobility revenue increased $53,394 (51.4%) from
the three months ended April 30, 2007. This increase is due to expanded sales
efforts for the Companys wireless products to MLS boards through is partner
reseller agreements. Most Home also launched its wireless technology to consumer
applications in Q3 of fiscal 2008 along with a focused marketing campaign; as a
result, management anticipates increased wireless and mobility revenues in
future periods.

The following table shows revenues and margins for the nine
months ended April 30, 2008, with comparative figures for the prior nine month
period:

| |                       | Nine months    |  |                  |  | Nine months    |  |                  | 
| | --------------------- | -------------- |  | ---------------- |  | -------------- |  | ---------------- | 
| |                       | ended          |  |                  |  | ended          |  |                  | 
| |                       | April 30, 2008 |  | % of
      Sales |  | April 30, 2007 |  | % of
      Sales | 
| | Revenues:             |                |  |                  |  |                |  |                  | 
| | Referrals             | 535,022        |  | 30.4             |  | 457,980        |  | 32.5             | 
| | Membership            | 233,310        |  | 13.3             |  | 392,960        |  | 27.8             | 
| | Enterprise            | 508,673        |  | 28.9             |  | 279,408        |  | 19.8             | 
| | Wireless and mobility | 436,530        |  | 24.8             |  | 245,931        |  | 17.4             | 
| | Other                 | 46,378         |  | 2.6              |  | 35,069         |  | 2.5              | 
| |                       | 1,759,913      |  | 100.0            |  | 1,411,347      |  | 100.0            | 

26

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The following table shows revenues and margins for the three
months ended April 30, 2008, with comparative figures for the prior year:

| |               | Three months   |  |                  |  | Three months   |  |                  | 
| | ------------- | -------------- |  | ---------------- |  | -------------- |  | ---------------- | 
| |               | ended          |  |                  |  | ended          |  |                  | 
| |               | April 30, 2008 |  | % of
      Sales |  | April 30, 2007 |  | % of
      Sales | 
| | Revenues:     | 660,096        |  | 100.0            |  | 374,962        |  | 100.0            | 
| | Gross Margin: | 440,403        |  | 66.7             |  | 139,485        |  | 37.2             | 

Gross margin for the three months ended April 30, 2008 was
$440,403 (66.7%) compared to $139,485 (37.2%) for the comparable quarter ended
April 30, 2007. This was due to the acquisition of Netupdate, Inc operating
assets which included the purchase of all their customer contracts. There are no
direct costs associated with these contracts and as such, all costs are recorded
in Research and Development or SG&A.

This was offset with the Company completing its transition to a
new software platform. As of November 30, 2007, the Company stopped using the
older system and transitioned all its clients to the new one. The new system has
reduced costs and overhead, and allows the Company to implement new customers
within weeks, rather than months.

Wireless and Enterprise revenue have limited and fixed direct
costs associated with them. As these revenues increase, gross margin will
increase as well.

Continued weakness in the U.S. dollar against the Canadian
dollar may decrease gross margin in future periods (see Foreign Currency
Impact).

The following table shows revenues and margins for the nine
months ended April 30, 2008, with comparative figures for the prior year:

| |               | Nine months    |  |                  |  | Nine months    |  |                  | 
| | ------------- | -------------- |  | ---------------- |  | -------------- |  | ---------------- | 
| |               | ended          |  |                  |  | ended          |  |                  | 
| |               | April 30, 2008 |  | % of
      Sales |  | April 30, 2007 |  | % of
      Sales | 
| | Revenues:     | 1,759,913      |  | 100.0            |  | 1,411,347      |  | 100.0            | 
| | Gross Margin: | 1,136,164      |  | 64.6             |  | 757,353        |  | 53.7             | 

The following table shows operating expenses as a percentage of
sales for the three month period ended April 30, 2008, with comparative figures
for the prior quarter.

| |                                     | Three months   |  |                  |  | Three months   |  |                  | 
| | ----------------------------------- | -------------- |  | ---------------- |  | -------------- |  | ---------------- | 
| |                                     | ended          |  |                  |  | ended          |  |                  | 
| |                                     | April 30, 2008 |  | % of
      Sales |  | April 30, 2007 |  | % of
      Sales | 
| | Amortization                        | 86,342         |  | 13.1             |  | 38,014         |  | 10.1             | 
| | Research and development            | 193,395        |  | 29.3             |  | 137,892        |  | 36.8             | 
| | Selling, general and administrative | 945,088        |  | 143.2            |  | 754,435        |  | 201.2            | 
| | Acquisition costs                   | 148,829        |  | 22.5             |  | -              |  | -                | 
| | Total operating expenses            | 1,373,654      |  | 208.1            |  | 930,341        |  | 248.1            | 

27

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Amortization expense increased to $86,342 from the three months
ended April 30, 2007. The increase was due to amortization on acquired capital
assets from the Netupdate purchase on February 1, 2008.

Research and development costs increased $55,503 from prior
year quarter. The Company remains focused on further development of its products
and services; enhancement of its existing products under a uniform product
platform. Extra development time was required for the transition of our new
software platform.

Selling, general and administrative costs increased 25.3%
($190,653) from the three months ended April 30, 2007. The main factor for this
increase was non-cash stock compensation for the issuance and extension of stock
options and warrants, recorded in the three month period ending April 30, 2008
of $212,087 compared to $50,360 for the prior year quarter.

Acquisition costs increased $148,829 from $nil for the three
months ended April 30, 2007. This relates to expensing deferred costs for the
acquisition of a call center.

The following table shows operating expenses as a percentage of
sales for the nine month period ended April 30, 2008, with comparative figures
for the prior quarter.

| |                                     | Nine months    |  |                  |  | Nine months    |  |                  | 
| | ----------------------------------- | -------------- |  | ---------------- |  | -------------- |  | ---------------- | 
| |                                     | ended          |  |                  |  | ended          |  |                  | 
| |                                     | April 30, 2008 |  | % of
      Sales |  | April 30, 2007 |  | % of
      Sales | 
| | Amortization                        | 160,231        |  | 9.1              |  | 122,941        |  | 8.7              | 
| | Research and development            | 478,619        |  | 27.2             |  | 455,700        |  | 32.3             | 
| | Selling, general and administrative | 2,303,659      |  | 130.9            |  | 3,027,967      |  | 214.5            | 
| | Acquisition costs                   | 148,829        |  | 8.5              |  | -              |  | -                | 
| | Total operating expenses            | 3,091,338      |  | 175.7            |  | 3,606,608      |  | 255.5            | 

Amortization expense increased to $160,231 from the nine months
ended April 30, 2007. The increase was due to amortization on acquired capital
assets from its Netupdate acquisition on February 1, 2008 and the subsequent
related amortization.

Research and development costs increased $22,919 (5.0%) from
the nine months ended April 30, 2007. The Company remains focused on further
development of its products and services; enhancement of its existing products
under a uniform product platform.

Selling, general and administrative costs decreased 14.3%
($515,270) from the nine months ended April 30, 2007. The main factor for this
decrease was non-cash stock compensation for the issuance and extension of stock
options and warrants, recorded in the nine month period ending April 30, 2007.
The Company expects further decreases in Q4 of fiscal 2008 from staffing
reductions made during Q3 of fiscal 2008.

Acquisition costs increased $148,829 from $nil for the nine
months ended April 30, 2007. This relates to expensing deferred costs for the
acquisition of a call center based, which was abandoned. On March 20, 2008, the
Company discontinued its previously announced intent to acquire a large contact
center in the US market. While it is possible that the Company may revive these
efforts within the next twelve months, it appears unlikely at this point. The
Company believes that it is more beneficial at this time to focus its efforts on
supplementing its organic growth with capabilities that would further strengthen
its higher margin technology offerings. In addition, management is of the
opinion that opportunities for acquisitions of strategic services and
technology, like the

28

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recent purchase of Netupdate, could affordably present
themselves in the near term and currently represent a more appropriate use of
the company's resources

The following table shows stock compensation included in
SG&A for the three months ended April 30, 2008:

| |                                      | Three months   |  |                  |  | Three months   |  |                  | 
| | ------------------------------------ | -------------- |  | ---------------- |  | -------------- |  | ---------------- | 
| |                                      | ended          |  |                  |  | ended          |  |                  | 
| |                                      | April 30, 2008 |  | % of
      Sales |  | April 30, 2007 |  | % of
      Sales | 
| | SG&A before stock-based compensation | 733,001        |  | 111.1            |  | 704,075        |  | 187.8            | 
| | Stock-based compensation             | 212,087        |  | 32.1             |  | 50,360         |  | 13.4             | 
| | Selling, general and administrative  | 945,088        |  | 143.2            |  | 754,435        |  | 201.2            | 

Selling, general and administrative costs increased 25.3%
($190,653) from the three months ended April 30, 2007. The main factor for this
increase was non-cash stock compensation for the issuance and extension of stock
options and warrants, recorded in the three month period ending April 30,
2008.

The following table shows stock compensation included in
SG&A for the nine months ended April 30, 2008:

| |                                      | Nine months    |  |                  |  | Nine months    |  |                  | 
| | ------------------------------------ | -------------- |  | ---------------- |  | -------------- |  | ---------------- | 
| |                                      | ended          |  |                  |  | ended          |  |                  | 
| |                                      | April 30, 2008 |  | % of
      Sales |  | April 30, 2007 |  | % of
      Sales | 
| | SG&A before stock-based compensation | 2,021,315      |  | 114.9            |  | 2,285,998      |  | 162.0            | 
| | Stock-based compensation             | 282,344        |  | 16.0             |  | 741,969        |  | 52.6             | 
| | Selling, general and administrative  | 2,303,659      |  | 130.9            |  | 3,027,967      |  | 214.5            | 

Selling, general and administrative costs decreased 23.9%
($724,308) from the nine months ended April 30, 2007. The main factor for this
decrease was non-cash stock compensation for the issuance and extension of stock
options and warrants, recorded in the nine month period ending April 30, 2007
and a headcount reduction, included in SG&A, of 6 people during fiscal
2007.

Working capital deficiency at April 30, 2008 was $3,111,409
compared to $1,911,135 at April 30, 2007. See "Liquidity and Sources of Capital"
for description of further funding anticipated in fiscal 2008.

Critical accounting policies

The Company's discussion and analysis of its financial
condition and results of operations, including the discussion on liquidity and
capital resources, are based on its consolidated financial statements that have
been prepared in accordance with U.S. generally accepted accounting principles.
The preparation of these financial statements requires management to make
estimates and judgments that affect reported amounts of assets, liabilities,
revenues and expenses, and related disclosure of contingent assets and
liabilities. On an ongoing basis, management re-evaluates its estimates and
judgments, particularly those related to the determination of the impairment of
goodwill and intangible assets. Management bases its estimates and judgments on
historical experience, contractual arrangements and commitments and on various
other assumptions that it believes are reasonable in the circumstances. Changes
in these estimates and judgments will impact the amounts recognized in the
consolidated financial statements, and the impact may be material. Management
believes the following critical accounting policies require more significant
estimates and judgments in the preparation of the consolidated financial
statements. The consolidated financial statements have been prepared on the
going concern basis, which assumes the realization of assets and liquidation of
liabilities in the normal course of operations.

29

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If the Company was unable continue as a going concern, it would
likely not be able to realize the carrying value of its assets as reflected in
the consolidated financial statements. As described elsewhere in this report, at
April 30, 2008, there are certain conditions that currently exist which raise
substantial doubt about the validity of the going concern assumption. While the
Company anticipates raising additional private placement funds to remove the
substantial doubt, these private placements are not assured. Failure to raise
additional funds may result in the Company curtailing operations or writing
assets and liabilities down to liquidation values, or both.

Goodwill is not amortized and is only written down if impaired.
In estimating fair value of goodwill, management estimates their value at the
reporting unit level. The fair value of goodwill will be impacted by general
economic conditions, demand for the Company's services and other factors. To the
extent that fair value is reduced in future periods, the Company may be required
to record an impairment charge against the carrying value of the goodwill.

Effective February 1, 2007, the Company adopted the fair value
recognition provisions of SFAS No. 123R "Share Based Payments" using the
modified retrospective transition method. SFAS 123R requires companies to
estimate the fair value of share-based payment awards on the date of grant using
an option-pricing model. The value of the portion of the award that is
ultimately expected to vest is recognized as expense ratably over the requisite
service periods. The Company has estimated the fair value of each award as of
the date of grant or assumption using the Black-Scholes option pricing model,
which was developed for use in estimating the value of traded options that have
no vesting restrictions and that are freely transferable. The Black-Scholes
model considers, among other factors, the expected life of the award and the
expected volatility of the Company's stock price. Although the Black-Scholes
model meets the requirements of SFAS 123R and SAB 107, the fair values generated
by the model may not be indicative of the actual fair values of the Company's
awards, as it does not consider other factors important to those share-based
payment awards, such as continued employment, periodic vesting requirements, and
limited transferability.

SFAS No. 123R requires the estimation of forfeitures when
recognizing compensation expense and that this estimate of forfeitures be
adjusted over the requisite service period should actual forfeitures differ from
such estimates. Changes in estimated forfeitures are recognized through a
cumulative adjustment, which is recognized in the period of change and which
impacts the amount of unamortized compensation expense to be recognized in
future periods.

The carrying value of intangible assets and other long-lived
assets is reviewed on a regular basis for the existence of facts or
circumstances that may suggest impairment. The Company recognizes impairment
when the sum of the expected undiscounted future cash flows is less than the
carrying amount of the asset. Impairment losses, if any, are measured as the
excess of the carrying amount of the asset over its estimated fair value.

Liquidity and sources of capital

Working capital deficiency was $3,111,409 at April 30,
2008.

During the nine-month period ended April 30, 2008, the
Company's operations used $1,138,802 in net cash. Cash required by the Company
during the three months ended April 30, 2008 was generated through advances from
related parties and capital raising activities (which generated $1,062,650, net
of issuance costs, through the private sale of stock, stock subscriptions and
the exercise of stock options and warrants).

Management anticipates that cash flow requirements for the
twelve months ended April 30, 2009 will be met through the exercise of
outstanding stock options and warrants, private placements of stock, and the
repayment of amounts due from related parties. There can be no assurance that
any of these capital sources will provide the necessary cash flow to the Company
for it to sustain operations.

Management anticipates cash flow needs for the twelve months
ended April 30, 2009 are as follows:

|General and administrative   | $300,000  
|---------------------------- | ----------
|Capital purchases            | $100,000  
|Product development          | $750,000  
|Debt and liability reduction | $2,850,000
|                             | $4,000,000

30

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Recent Accounting Pronouncements

In May 2008, the Financial Accounting Standards Board (FASB)
issued SFAS No. 163, Accounting for Financial Guarantee Insurance Contracts 
An interpretation of FASB Statement No. 60. SFAS 163 requires that an insurance
enterprise recognize a claim liability prior to an event of default when there
is evidence that credit deterioration has occurred in an insured financial
obligation. It also clarifies how Statement 60 applies to financial guarantee
insurance contracts, including the recognition and measurement to be used to
account for premium revenue and claim liabilities, and requires expanded
disclosures about financial guarantee insurance contracts. It is effective for
financial statements issued for fiscal years beginning after December 15, 2008,
except for some disclosures about the insurance enterprises risk-management
activities. SFAS 163 requires that disclosures about the risk-management
activities of the insurance enterprise be effective for the first period
beginning after issuance. Except for those disclosures, earlier application is
not permitted. The adoption of this statement is not expected to have a material
effect on the Companys financial statements.

In May 2008, the FASB issued SFAS No. 162, The Hierarchy of
Generally Accepted Accounting Principles. SFAS 162 identifies the sources of
accounting principles and the framework for selecting the principles to be used
in the preparation of financial statements of nongovernmental entities that are
presented in conformity with generally accepted accounting principles in the
United States. It is effective 60 days following the SECs approval of the
Public Company Accounting Oversight Board amendments to AU Section 411, The
Meaning of Present Fairly in Conformity With Generally Accepted Accounting
Principles. The adoption of this statement is not expected to have a material
effect on the Companys financial statements.

In March 2008, the FASB issued Statement of Financial
Accounting Standards No. 161  Disclosures about Derivative Instruments and
Hedging Activities (SFAS 161). SFAS 161 expands the disclosure required by
SFAS 133, Accounting for Derivative Instruments and Hedging Activities,
regarding an entitys derivative instruments and hedging activities. The
standard is effective for fiscal years and interim periods beginning after
November 15, 2008 and early adoption is encouraged. SFAS 161 will not have an
impact on the Companys financial position, results of operations or cash
flows.

In December 2007, the FASB issued SFAS No. 160, "Noncontrolling
Interests in Consolidated Financial Statements Liabilities  an Amendment of ARB
No. 51". This statement amends ARB 51 to establish accounting and reporting
standards for the Noncontrolling interest in a subsidiary and for the
deconsolidation of a subsidiary. This statement is effective for fiscal years,
and interim periods within those fiscal years, beginning on or after December
15, 2008. Earlier adoption is prohibited. The adoption of this statement is not
expected to have a material effect on the Company's financial statements.

In December 2007, the Financial Accounting Standards Board
(FASB) issued SFAS No. 141R, "Business Combinations". This statement replaces
SFAS 141 and defines the acquirer in a business combination as the entity that
obtains control of one or more businesses in a business combination and
establishes the acquisition date as the date that the acquirer achieves control.
SFAS 141R requires an acquirer to recognize the assets acquired, the liabilities
assumed, and any noncontrolling interest in the acquiree at the acquisition
date, measured at their fair values as of that date. SFAS 141R also requires the
acquirer to recognize contingent consideration at the acquisition date, measured
at its fair value at that date. This statement is effective for fiscal years,
and interim periods within those fiscal years, beginning on or after December
15, 2008. Earlier adoption is prohibited. The adoption of this statement is not
expected to have a material effect on the Company's financial statements.

In February 2007, the Financial Accounting Standards Board
("FASB") issued SFAS No. 159, "The Fair Value Option for Financial Assets and
Financial Liabilities - Including an Amendment of FASB Statement No. 115". This
statement permits entities to choose to measure many financial instruments and
certain other items at fair value. Most of the provisions of SFAS No. 159 apply
only to entities that elect the fair value option. However, the

31

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amendment to SFAS No. 115 "Accounting for Certain Investments
in Debt and Equity Securities" applies to all entities with available-for-sale
and trading securities. SFAS No. 159 is effective as of the beginning of an
entity's first fiscal year that begins after November 15, 2007. Early adoption
is permitted as of the beginning of a fiscal year that begins on or before
November 15, 2007, provided the entity also elects to apply the provision of
SFAS No. 157, "Fair Value Measurements". The adoption of this statement is not
expected to have a material effect on the Company's future reported financial
position or results of operations

In September 2006, the SEC staff issued Staff Accounting
Bulletin No. 108 "Considering the Effects of Prior Year Misstatements when
Quantifying Misstatements in Current Year Financial Statements" ("SAB 108").
SAB 108 requires that public companies utilize a "dual-approach" to assessing
the quantitative effects of financial misstatements. This dual approach includes
both an income statement focused assessment and a balance sheet focused
assessment. The guidance in SAB 108 must be applied to annual financial
statements for fiscal years ending after November 15, 2007. The Company is
currently assessing the impact of adopting SAB 108 but does not expect that it
will have a material effect on its consolidated financial position or results of
operations.

In September 2006, the Financial Accounting Standards Board
("FASB") issued SFAS No. 158, "Employers' Accounting for Defined Benefit Pension
and Other Postretirement Plans - an amendment of FASB Statements No. 87, 88,
106, and 132(R)". This statement requires employers to recognize the overfunded
or underfunded status of a defined benefit postretirement plan (other than a
multiemployer plan) as an asset or liability in its statement of financial
position and to recognize changes in that funded status in the year in which the
changes occur through comprehensive income of a business entity or changes in
unrestricted net assets of a not-for-profit organization. This statement also
requires an employer to measure the funded status of a plan as of the date of
its year-end statement of financial position, with limited exceptions. The
provisions of SFAS No. 158 are effective for employers with publicly traded
equity securities as of the end of the fiscal year ending after December 15,
2007. The adoption of this statement is not expected to have a material effect
on the Company's future reported financial position or results of
operations.

In September 2006, the FASB issued SFAS No. 157, "Fair Value
Measurements". The objective of SFAS No. 157 is to increase consistency and
comparability in fair value measurements and to expand disclosures about fair
value measurements. SFAS No. 157 defines fair value, establishes a framework for
measuring fair value in generally accepted accounting principles, and expands
disclosures about fair value measurements. SFAS No. 157 applies under other
accounting pronouncements that require or permit fair value measurements and
does not require any new fair value measurements. The provisions of SFAS No. 157
are effective for fair value measurements made in fiscal years beginning after
November 15, 2008. The adoption of this statement is not expected to have a
material effect on the Company's future reported financial position or results
of operations.

In June 2006, the FASB issued FASB Interpretation No. 48,
"Accounting for Uncertainty in Income Taxes, an interpretation of FASB
Statements No. 109" ("FIN 48"). FIN 48 clarifies the accounting for uncertainty
in income taxes by prescribing a two-step method of first evaluating whether a
tax position has met a more likely than not recognition threshold and second,
measuring that tax position to determine the amount of benefit to be recognized
in the financial statements. FIN 48 provides guidance on the presentation of
such positions within a classified statement of financial position as well as on
derecognition, interest and penalties, accounting in interim periods,
disclosure, and transition. FIN 48 is effective for fiscal years beginning after
December 15, 2007. The adoption of this statement is not expected to have a
material effect on the Company's future reported financial position or results
of operations.

In May 2006, the FASB issued SFAS No. 156, "Accounting for Servicing
  of Financial Assets, an amendment of FASB Statement No. 140, Accounting for
  Transfers and Servicing of Financial Assets and Extinguishments of Liabilities".
  This statement requires all separately recognized servicing assets and servicing
  liabilities be initially measured at fair value, if practicable, and permits
  for subsequent measurement using either fair value measurement with changes
  in fair value reflected in earnings or the amortization and impairment requirements
  of Statement No. 140. The subsequent measurement of separately recognized servicing
  assets and servicing liabilities at fair value eliminates the necessity for
  entities that manage the risks inherent in servicing assets and servicing liabilities
  with derivatives to qualify for hedge accounting treatment and eliminates the
  characterization of declines in fair value as impairments or direct write-downs.
  SFAS No. 156 is effective for an entity's first fiscal year beginning after
  September 15, 2007. The adoption of this statement is not expected to have a
  material effect on the Company's future reported financial position or results
  of operations.

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Item 3. Controls and Procedures

Under the supervision and with the participation of the
Company's management, including the Company's Chief Executive Officer and Chief
Financial Officer, the Company has evaluated the effectiveness of the design and
operation of its disclosure controls and procedures pursuant to Exchange Act
Rule 13a-15(e) and Rule 15d-15(e) as of the end of the period covered by this
quarterly report. Based on that evaluation, the Chief Executive Officer and
Chief Financial Officer have concluded that these disclosure controls and
procedures are effective to ensure that information required to be disclosed by
us in the reports we file or submit under the Exchange Act is recorded,
processed, summarized, and reported within the time periods specified in the
Securities and Exchange Commission's rules and forms and that our disclosure and
controls are designed to ensure that information required to be disclosed by us
in the reports that we file or submit under the Exchange Act is accumulated and
communicated to our management, including our principal executive officer and
principal financial officer, or persons performing similar functions, as
appropriate to allow timely decisions regarding required disclosure. There were
no significant changes in the Company's internal controls or in other factors
that could significantly affect internal controls subsequent to the date of
their evaluation.

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CAUTIONARY STATEMENT FOR PURPOSES OF THE "SAFE HARBOR"
PROVISIONS OF THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995

From time to time, the Company will make written and oral
forward-looking statements about matters that involve risk and uncertainties
that could cause actual results to differ materially from projected results.

Many of these factors are beyond the Company's ability to
control and predict. Investors are cautioned not to place undue reliance on
forward-looking statements. The Company disclaims any intent or obligation to
update its forward-looking statements, whether as a result of receiving new
information, the occurrence of future events, or otherwise.

This Quarterly Report contains statements that are
forward-looking. These statements are based on current expectations and
assumptions that are subject to risks and uncertainties. Actual results could
differ materially because of issues and uncertainties such as those listed
below, which, among others, should be considered in evaluating the Company's
financial outlook.

An investment in Most Home's common stock involves risks due in
part to prior operating losses, the limited market for Most Home's common stock,
and competition in the real estate industry.

Prospective investors should be aware that ownership of Most
Home's common stock involves risks which could depress the value of their
shares. Most Home does not make, nor has it authorized any other person to make,
any representations about the future market value of Most Home's common stock.

The Company's securities should be purchased only by persons
who can afford to lose their entire investment. Prospective investors should
read this entire quarterly report in conjunction with our Annual Report filed on
Form 10-KSB and carefully consider, among others, the following risk factors in
addition to the other information in this report prior to making an
investment.

Most Home has suffered losses in the past

Most Home incurred a net loss of $946,303 for three months
ended and a net loss of $2,152,493 for the nine months ended April 30, 2008,
incurred a net loss of $3,679,006 for the year ended July 31, 2007, $2,948,087
for the year ended July 31, 2006, and incurred a net loss of $1,560,546 for the
year ended July 31, 2005. From the date of its formation through April 30, 2008,
Most Home incurred net losses of $12,727,867. Although management anticipates
profitability in future periods, profitability cannot be assured and further
losses may occur.

Foreign Currency Impact

The Company currently derives approximately 75% of its revenues
from U.S. sources and approximately 95% of its expenses from Canadian sources.
Increases in the Canadian dollar have negatively impacted the Company's expenses
and cash flows. Bank of Canada (http://www.bankofcanada.ca) reports that the
average annual exchange rate, based on monthly averages, for the Canadian to
U.S. dollar was 1.0050 for the three months ended and 1.0061 for the nine months
ended April 30, 2008 compared to 1.1577 for the three months ended and 1.1446
for the nine months ended April 30, 2007. This represents an increase of
approximately 14% and 13%, respectively, on an average period exchange rate
basis, in the Company's expenses and cash disbursements over the three and nine
months ended April 30, 2008. The Company does not currently engage in foreign
currency hedging activities.

34

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Most Home is dependant on additional financing to expand its
operations. If adequate funds are not available when required or on acceptable
terms, Most Home may be required to alter its business plans and delay or scale
back its sales and marketing efforts which, in turn, would result in a decline
in Most Home's revenues.

Most Home needs additional capital to advance its business and
marketing plans. Since the cash generated from Most Home's operations may not be
sufficient to fund these activities, Most Home may need additional financing through private financings, debt or equity offerings
or collaborative arrangements with others. Any equity offering will result in
dilution of the ownership interest of Most Home's shareholders and may result in
a decline in the price of Most Home's common stock. The Report of Independent
Registered Public Accounting Firm with respect to Most Home's financial
statements for the fiscal year ended July 31, 2007 includes an additional
explanatory paragraph that states there exists substantial doubt about Most
Home's ability to continue as a going concern. These consolidated financial
statements do not include any adjustment as a result of this uncertainty.

Most Home's services are dependent on the use of the
Internet and any interruptions, delays or capacity problems experienced on the
Internet or with telephone connections would adversely affect Most Home's
ability to operate.

Although Most Home has instituted safeguards and redundancy for
its systems, possible technical problems could occur, including software
failures that result in Most Home being unable to view customer information by
means of its websites, and website server hardware failures that cause Most
Home's or Most Home managed websites to be unavailable to its customers for
significant periods of time. An extended interruption, delay or capacity
problems related to the use of the Internet could significantly reduce future
revenues.

Most Home may not be able to protect its intellectual
property

Most Home considers its wireless technology and systems
developed by Most Home and its partners to be proprietary in nature. The
technology and systems allow users to connect to real estate listing data
remotely using mobility devices.

It is possible that others may independently develop superior
technology and systems or obtain access to Most Home's technology and systems.
Since the above technology and systems are not patented; Most Home relies
primarily on a combination of copyright, trademark and trade secret laws and
confidentiality procedures to protect its survey methods. Monitoring and
identifying unlawful use of Most Home's intellectual property may prove
difficult, and the cost of litigation may prevent Most Home from prosecuting any
unauthorized use of its technology.

Government regulation and legal uncertainties could impair
the growth of the Internet and decrease demand for Most Home's services or
increase its cost of doing business

Although there are currently few laws and regulations directly
applicable to the Internet, a number of laws have been proposed involving the
Internet, including laws addressing user privacy, pricing, content, copyrights,
distribution, antitrust and characteristics and quality of products and
services. Further, the growth and development of the market for online email may
prompt calls for more stringent consumer protection laws that may impose
additional burdens on those companies conducting business by means of the
internet. The adoption of any additional laws or regulations may impair the
growth of the Internet or commercial online services which could decrease the
demand for Most Home's services and increase the cost of doing business, or
otherwise harm Most Home's business and operating results. Moreover, the
applicability of existing laws to the Internet relating to property ownership,
sales and other taxes, libel and personal privacy is uncertain and may take
years to resolve.

The limited public market for Most Home's common stock may
limit the ability of shareholders to sell their shares.

Most Home's common stock is quoted on the OTC Bulletin Board
and there has been only a limited public market for Most Home's common stock. An
active trading market for Most Home's stock may not develop and purchasers of
the shares may not be able to resell their securities at prices equal to or
greater than the price paid for these shares. The market price of Most Home's
common stock may decline as the result of announcements by Most Home or its
competitors, variations in Most Home's results of operations, and market
conditions in the real estate and Internet industries in general.

35

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Rules of the Securities and Exchange Commission concerning
low priced securities may limit the ability of shareholders to sell their
shares.

Most Home's common stock is subject to Rule 15g-9 of the
Securities and Exchange Commission which regulates broker/dealer practices in
connection with transactions in "penny stocks". Penny stocks generally are
equity securities with a price of less than $5.00, other than securities
registered on certain national securities exchanges or quoted on the NASDAQ
system, provided that current price and volume information with respect to
transactions in that security are provided by the exchange or system. The penny
stock rules require a broker/dealer, prior to a transaction in a penny stock not
otherwise exempt from the rules, to deliver a standardized risk disclosure
document prepared by the Commission that provides information about penny stocks
and the nature and level or risks in the penny stock market. The broker/dealer
also must provide the customer with current bid and offer quotations for the
penny stock, the compensation of the broker/dealer and its salesperson in the
transaction, and if the broker/dealer is the sole market-maker, the
broker/dealer must disclose this fact and the broker/dealer's presumed control
over the market. This information must be provided to the customer orally or in
writing before or with the written confirmation of trade sent to the customer.
The bid and offer quotations, and the broker/dealer and its salesperson
compensation information, must be given to the customer in writing before or
with the customer's confirmation. The broker/dealer must make a special
suitability determination for purchasers of the securities and receive the
purchaser's written agreement to the transaction prior to sale. Monthly
statements must be sent by the broker/dealer to the customer disclosing recent
price information for the penny stock held in the account and information on the
limited market in penny stocks. These disclosure requirements may reduce the
level of trading activity in the market for Most Home's common stock and may
limit the ability of investors in this offering to sell Most Home's common stock
in the secondary market.

Rules of the Securities and Exchange Commission concerning
late report filings

On November 16, 2005, the SEC approved certain changes to NASD
Rule 6530. As amended, NASD Rule 6530 provides that OTC Bulletin Board ("OTCBB")
issuers who are late in filing their annual or quarterly reports three times
within a 24-month period will be ineligible for quotation on the OTCBB. In order
to regain eligibility under this rule, the issuer would need to timely file all
of its annual and quarterly reports due in a one year period. The amended NASD
Rule 6530 does not apply to annual or quarterly reports for periods ended before
January 1, 2005.

We have been late in filing our quarterly and annual reports on
two occasions subsequent to periods ending after January 1, 2005. If we are late
in filing our annual or quarterly reports three times within a 24-month period,
we may become ineligible for quotation on the OTCBB, which would negatively
affect the market for our common stock. In addition, if our common stock is no
longer eligible for quotation on the OTCBB, it may become more difficult for us
to obtain additional equity financing as shares of our common stock will be less
attractive to potential investors.

The issuance of additional shares of common stock could
cause the price of Most Home's common stock to decline

Most Home has options, warrants and preferred stock outstanding
as of June 19, 2008, the exercise or conversion of which could result in the
issuance 16,549,390 additional shares of common stock representing 29.3% of the
issued and outstanding shares. To the extent these shares are issued, the
percentage of common stock held by existing common stockholders will be reduced.
In addition the exercise of any or all of the options or warrants might result
in further dilution of the net tangible book value of the existing stockholders'
shares. If the market price of Most Home's common stock is above the exercise
price of an option or warrant the holders of the option or warrant may exercise
the warrant or option, in which case Most Home would be required to sell its
shares at below market prices, further diluting the interests of other
shareholders.

36

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PART II - OTHER INFORMATION

Item 1. Legal Proceedings

None.

Item 2. Unregistered Sales of Equity Securities and Use of
Proceeds

(a) The following sets forth certain information regarding
sales of equity securities that were either not registered under the Securities
Act or not previously included in a Current Report on Form 8-K during the three
months ended April 30, 2008: On December 12, 2007, and subsequently approved on
February 21, 2008, the Company entered into an agreement with an accredited
investor to sell up to 1,200,000 shares of common stock and 1,200,000 share
purchase warrants for total proceeds of $300,000, at a price of $0.25 per unit
of share and warrant. Each warrant entitles the investor to purchase one
additional common share at an exercise price of $0.40 per share for a period of
three years.

On January 7, 2008, and subsequently approved on February 21,
2008, the Company entered into an agreement with two accredited investors to
sell up to 800,000 shares of common stock and 800,000 share purchase warrants
for total proceeds of $200,000, at a price of $0.25 per unit of share and
warrant. Each warrant entitles the investor to purchase one additional common
share at an exercise price of $0.40 per share for a period of three years.

On February 21, 2008, the Company issued 1,845,046 shares of
common stock, valued at $700,000, to Netupdate, Inc, as payment of purchase of
the operating assets and assumed liabilities as noted in Note 3 of the Financial
Statements.

On April 23, 2008, the Company approved a private placement of
80,000 units at $0.25 per unit for proceeds of $20,000. Each unit consisted of
one common share and one share purchase warrant. Each share purchase warrant is
exercisable at $0.40 per share expiring three years from the date of
issuance.

Item 3. Defaults upon Senior Securities

None.

Item 4. Submission of Matters to a Vote of Security
Holders

None.

Item 5. Other Information

On March 20, 2008, the Company repaid US$7,952 (CAD$8,000) in
loan principle to George Shahnazarian, a director of the Company. The loan
accrues interest at a rate of 10% per annum, is secured by a promissory note and
repayable on demand. A total of US$265,671 (CAD$267,583) remains payable to Mr.
Shahnazarian at April 30, 2008.

During the nine months ended April 30, 2008, the Company paid
an aggregate of US$nil as interest to Mr. Shahnazarian.

37

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Item 6. Exhibits

|Exhibit No. | Description of Exhibit                                                                                         
|----------- | ---------------------------------------------------------------------------------------------------------------
|            |                                                                                                                
|31.1        | Certifications
      of Chief Executive Officer Pursuant to Section 302 of the Sarbanes-Oxley
      Act of 2002
|            |                                                                                                                
|31.2        | Certifications
      of Chief Financial Officer Pursuant to Section 302 of the Sarbanes-Oxley
      Act of 2002
|            |                                                                                                                
|32.1        | Certifications
      of Chief Executive Officer Pursuant to Section 906 of the Sarbanes-Oxley
      Act of 2002
|            |                                                                                                                
|32.2        | Certifications
      of Chief Financial Officer Pursuant to Section 906 of the Sarbanes-Oxley
      Act of 2002

38

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SIGNATURES

In accordance with the requirements of the Securities and
Exchange Act of 1934, the Registrant has duly caused this report to be signed on
its behalf by the undersigned, thereunto duly authorized.

|                    | MOST HOME CORP.
|------------------- | ---------------
|                    |                
|                    |                
|Date: June 20, 2008 | By:            
|                    |                
|                    |                
|                    |                
|Date: June 20, 2008 | By:            
|                    |                

39

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