The Business Update and 2015 Fourth Quarter Results by Slyce

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The Slyce Inc. which is considered to be one of the leading visual search platforms has today announced its financial results for the year and fourth quarter.

The Analysis, financial statements and management discussion for the year ended is now available online.

Business Update
Some of the major customer announcements during the three month period which had ended in 31st October, 2015 include;

Slyce announced its partnership with shoes.com which is one of the fastest growing footwear retailers in the world on the 12th August 2015. Shoes.com is also the owner of the top North American shoe retailing group. The image recognition platform used by Slyce mobile enables the visitors to take photos of any lady’s footwear which can either be in re al world or from other sources such as magazines.

Slyce Inc. also revealed that Neiman Marcus had increased the Slyce image recognition technology deployment to all the product lines on the 26th August, 2015. The NM app which is rated top and powered by the Slyce enables the customers to take 3D images of the items of any category.

Slyce signed a contract with the specialty retailer Urban Outfitters on 6th October in order to power the visual search for the mobile commerce. The Urban Outfitter currently has more than 230 stores in Europe, United States and Canada and also operates a division of the Urban Outfitters Inc. which is a top lifestyle specialty retail firm that is made up of Terrain brands, Free People, Bhldn and Anthropologie.

Shoe Carnival and Slyce announced an agreement which will integrate the Slyce technology on the 22nd October 2015.

Financial Update
Slyce ended its short form prospectus offering and continued with its private placement financing of approximately $ 7 million on the 10th February, 2016. This was due to the agreement with the lead investor to subscribe up to $ 5 million in units.

Technical Highlights
The main products of Slyce during the 2015 is coming up with new visual search cases and adding robustness around its core. Lots of attention was paid to coming up with a completely new system which will ensure easy onboarding by reducing the efforts of integration which is required from the new customers.