Pounce Technologies Inc. V.POI.H

News oct 21

[Wallcrawler]

Financing

Company Release - 10/21/2016 5:47 PM ET

CALGARY, ALBERTA--(Marketwired - Oct. 21, 2016) - Slyce Inc. (TSX VENTURE:SLC)(FRANKFURT:06O1) ("Slyce" or the "Company") announced today that, during recent months, the board of directors has been actively engaged in assessing possible options for recapitalizing the Company to overcome the financial challenges faced by Slyce. A Special Committee comprised of Dale Johnson (Chairman), Travis Reid (Independent Director) and Swapan Kakamanu (Chief Financial Officer) has been formed to review and assess strategic options, and to recommend to the board of directors an approach that is in the best interests of the Company and its shareholders. The Committee has retained Acumen Capital Partners as financial advisors.

Slyce also announced that it has arranged acquisition of its qualifying accounts receivable, subject to the negotiation of definitive documentation, in order to increase liquidity by approximately $400 thousand.

Mmmm what to make of this? Any opinions?

[Arturs33]

At least they are still working in it and not throwing in the towel.  I sent an email tand Ted today asking him about bankruptcy and financing and he only said they are working very had to secure financing and prevent the company from going into bankruptcy.  Like i I said before, all we can do right now is wait and see if you have the stomach for it. 

[Wallcrawler]

The only real option left is to roll back the stock and hopefully find someone to take new stock. If that happens then existing shareholders are screwed, ten to one gives them 19 mil outstanding, issue 20 mil at 40 cents gives them 8 mil cash. Buys them another year. I think thats what will happen, but thats just my opinion,lol. 

[jj12345]

In a 10-1 rollback does the share price not increase 10x keeping us at even cash? Yes this ruins the chance for the huge gains but if they can make this work there would still be opportunity for descent gains vs bankruptcy.  Or am I wrong 

[Wallcrawler]

Your share price paid now also goes up by 10x, so if you paid 5 cents a share and bought 10 shares your cost is 50 cents, roll back 10x and now you have 1 share worth 50 cents. Reverse splits never work. If they do a reverse a 10 to 1 that puts the share price at 40 and it will just drift back down. The only way to save existing holders is to find a buyer and get 25 to 50 mil, and that is unlikely

[jenser1979]

But you all undesrtood that ther WILL be a deal/transaction coming, or? just asking... so they have opportunities and now have to choose which alternative is the best for the shareholders. Coming weaks will show and will be exciting i think. maybe they have some big players at the table to discuss. (remember that Ted recently was in Korea???) just thinking...:-)

[Wallcrawler]

I hope your right. what about this selling their accounts receivables? I dont think i have ever heard of that before. Im still leaning towards a reverse split. Time will tell.

[MuadDib]

Selling accounts receivable is a last ditch effort to stay afloat. Hopefully they have the 0% government loans come through soon! If not they'll have suitors lined up to buy them on the cheap. I mean, this thing is only just under a 10 million market cap. Definitely need a boatload of miracles. I'm sticking with it though. I happen to love reverse splits. IMHO GLTA

[lscfa]

I think Ted is reluctant to sell SnipSnap because that was his baby...the special committee and Acumen Partners will find a buyer for this cash flow positive app...could bring $3 million US, half what SLC paid for it...Alternatively, blow out the SLC assets at fire sale prices and use the proceeds to grow the SnipSnap business.....