On the financial front of the Slyce Inc. company there have been several changes that have taken place. For further information on the subject matter please visit the Yahoo Finance website which offers greater detail on the changes that were made.
These changes made on the financial front took place on the 10th of February 2016 and had a significant impact on financial markers looking ahead in 2016. The short-form prospectus offering was aborted by Slyce Inc and a private placement financing took its place. This private placement financing was up to $7 million due to an agreement that was made between Slyce and the lead investor which had them subscribe for up to $5 million worth of units of the Slyce company. This was later followed up by the lead investor subscribing to an aggregate of $1.6 million in unsecured promissory notes which were bearing a 6 percent interest. These notes had been converted as a subscription for units in accordance to those terms set by the Private Placement. This trend continued as the lead investor subscribed for an additional $1.9 million in further units of the company on the 29th of February 2016. This brings the total lead investor aggregate to a large $3.5 million worth of subscriptions units within the company. This however did not cause Slyce Inc to stop the sales of subscriptions rather they are accepting further subscriptions by their lead investors as well as other parties involved until the conclusion of the financial year.
The Slyce Inc. visual search technology is ahead of the curve and is the future when it comes to retail and searching platforms. Many very profitable retail outlets have already signed up to implement this technology within their existing platforms. Allowing them to boost their sales and outreach to more customers in the future. Customers favour those companies who continually innovate and look to the future.