Overall the financials for Slyce Inc. looked very promising going into 2016, their 2015 report concerning the revenue increase from 2014 to 2015 was indeed very significant. There was an overall increase of 1784 percent in a one year cycle from October 31st of 2014 to October 31st of 2015. The total revenue for 2014 was at $89,803 and for 2015 at $1,692,292. The recurring revenue is thanks to the integration and deployment of new clients. This is allowing for the expansion of the percentage of total revenue.
The operating expenses have gone up over the last year due to the increase in operations at Slyce Inc. This was primarily due to increased sales as well as acquisitions and marketing initiatives. The operating expenses for 2014 were $6,900,310 and in 2015 rose to $11,639,430.
The Net Loss however has been reduced over the year from $17,576,576 in 2014 to $12,069,466 in 2015.
The total comprehensive loss for 2014 was $17,578,347. This is $0.29 loss per share on a total quantity of 60 million shares compared to 2015 which saw a total comprehensive loss of $12,065,685. This is $0.09 loss per share on a total quantity of 129 million shares.
Other expenses, loss before amortization as well as share based payments came to a total of $6,810,507 in 2014 compared to $9,947,138 for 2015. This was due to a number of factors including the expansion of Slyce Inc.
Slyce Inc is based in Toronto Canada and have since their inception focused on providing a powerful sales channel for major retailers and their client base. Allowing for the capturing of pictures of items and then using those images within a search allows for convenient engagement by the customer with the retailer.