GB DTRM ($1.93) announced Q1 2018 results:

• Sales of $6.9 million vs $6.5 million in the prior year and in line with analyst estimates of $7.0 million

• Non-GAAP net loss of $0.08 vs a non-GAAP net loss of $0.11 vs analyst estimates of a loss of $0.10

Quotes from management:

“The business is off to a solid start from a financial perspective, and I’m pleased to report we are in a good position across our key measures. As we move forward into Fiscal 2018, our focus and our charter are on new business growth. The additional resources we secured during our recently completed capital raise combined with the industry leading capabilities of the Determine Cloud Platform will power our efforts to meeting our growth charter. We intend to build a robust business with a long-term view — we have the right talent, resources, and solutions to make it happen.”

DTRM (2.67) announced it has offered 2.18 million shares at $2.50 a share.  It was our impressions from that the Company would not continue to raise money at these levels, partly because the Company was approaching operating at cash flow positive levels.

DTRM ($1.26) - Reported Q4 2016 results:

• Sales of $6.7 million vs $6.1 million in the prior year; slightly below analyst estimates of $6.89 million

• Non-GAAP net loss of $0.20 vs a non-GAAP net loss of $0.22 in the prior year; missed analyst estimates that were expecting a loss of $0.13

Quotes from management:

On the financial side, in the fourth quarter, we took the necessary actions to materially reduce expenses, which will solidly position the business for financial success in the coming quarters. I'm very excited as our team transforms the company with the launch of our new disruptive suite of technology, in combination with embracing the necessary financial discipline, we are well poised for great things to come in fiscal 2017."

SAN FRANCISCO & SAN MATEO, Calif.--(BUSINESS WIRE)--Tradeshift, the fastest growing supplier collaboration platform, today announced a global partnership with Selectica (NASDAQ:SLTC), a global provider of procurement and sourcing applications. 

Available soon as an app on the Tradeshift platform, the technology integration will bring Selectica’s SmartSource® strategic sourcing capabilities such as RFX, bidding, reverse auctions, and contract awarding to Tradeshift’s rapidly growing network of suppliers and buyers for increased simplicity and visibility across all interactions.

Adding this “plug in” sourcing capability to the platform will enable buying organizations to more holistically manage and connect the sourcing process to the downstream procure-to-pay process. The value to trading partners is the ability to manage all interactions and processes in one place leading to greater efficiency and transparency for often complex commercial relationships.

“The ‘app’ movement represents a new direction for the sourcing and procurement technology market and one that there is no going back from,” said Jason Busch, Founder and Managing Director, Spend Matters. “We applaud Selectica and Tradeshift for realizing the power of integrating sourcing technology directly into the Tradeshift environment and platform – and see the partnership as an important expedition in the longer march to true business interoperability between providers, not just systems integration.”

“Our innovative vision to provide a broad and open cloud ecosystem to transform supply chain relationships and processes are in complete alignment with Tradeshift,” said Julien Nadaud, Chief Product Officer of Selectica. "Together we will provide enterprise organizations with innovative best in class tools to achieve higher levels of productivity across the entire source-to-pay business."

“We're proud to add Selectica's best of breed sourcing solution as an app on the Tradeshift platform. Selectica's capabilities fit nicely into the source-to-pay spectrum enabled by Tradeshift,” said Rinus Strydom, VP Alliances & Solutions Consulting, Tradeshift. “Both buyers and suppliers will benefit from the ecosystem of businesses digitally enabled on Tradeshift, delivering greater participation, choice, and innovation in the supply chain."

The Selectica strategic sourcing app is the latest in a string of app partnerships that have extended the capabilities of the Tradeshift platform, including supply chain management apps from Quyntess, CSR from Ecovadis, and dynamic discounting from C2FO. Customers can activate apps virtually instantly to support an ever-growing need for enhanced business agility.     

SAN MATEO, CA--(Marketwired - Aug 17, 2015) - Selectica, Inc. (NASDAQ: SLTC), a global provider of SaaS contract management and end-to-end source-to-pay supply management software solutions, including eSourcing, eProcurement, spend analysis, and procure-to-pay software, announced that Chromalloy chose to implement Selectica Smart Supply Management suite solution which includes SmartSourcing, SmartAnalytics, Supplier Information and Performance Management, Procurement Contract Management, and Procurement Analytics to automate their entire sourcing processes.

Chromalloy is an integrated solutions provider for original equipment manufacturers, commercial airlines, militaries, oil and gas companies, and power companies.

Selectica Smart Supply Management suite solution delivers on bottom-line results based on understanding spend behaviors through embedded analytics, allowing organizations to make total cost of ownership based selection decisions, improve compliance in all supplier interactions and collaborate with suppliers to mitigate risk. The suite enables and supports positive supplier relationships, leveraging technology to drive an innovative process for improved savings and insight on supplier information and performance management.

"Selectica has been very easy to work with and very energetic," said Jim Adkins, Vice President at Chromalloy. "The customer focus they bring and the fully-featured, intuitively easy-to-use sourcing tools are game changers."

"We are excited to get Chromalloy up and running on Smart Supply Management suite as they automate and maintain their vendor relationships and streamline their enterprise sourcing processes," said David Bush, Chief Sales Officer at Selectica. "We are honored and look forward to continue to deliver our innovative solutions with the high standards of service that Chromalloy expects from us."

SLTC ($4.01)announced Q1 2016 results:

• Q1 2016 non-GAAP sales of $6.2 million vs $3.7 million in the prior year and slightly below analyst estimates of $6.5 million

• Q1 2016 non-GAAP net loss of $0.19 vs a non-GAAP net loss of $0.40 in the prior year and ahead of analyst estimates of a loss of $0.23

Quotes from management:

"I am very pleased to see the significant growth in both Q1 FY2016 new business volume and customer expansion as well as the diversity of new solutions across industry verticals. This was a very strong sales quarter for the company -- the pipeline and deal flow were very robust in Q1 and we anticipate seeing continued incremental growth as we move throughout the fiscal year," said Patrick Stakenas, President and CEO of Selectica. "As we look forward to integrating our new procure-to-pay capabilities, obtained through the b-pack acquisition, I anticipate both the volume and size of the deal flow to benefit from these new capabilities."

Q1 2016 Conference Call Summary

• General overview– management clearly excited, thorough, poised and confident in their presentation.  They seem to know what they are doing, where they are going and on a mission to get there.
• CEO states SLTC team has the plan, resources, energy and focus but it will take time for the operating results to reflect what they are accomplishing.  Investors will therefore have to be patient while the management team executes.  Turning the business around is a process and investors will see steady progress quarter over quarter.
• Three main initiatives:
  • Win new customers.  There has been a talent shift in the sales organization and company experienced an all time high in new wins during quarter.  As sales team gets traction and b-Pack is absorbed, expect ongoing progress.  “In Q1 FY2016, the company closed the greatest number of new customer accounts in recent history and expanded the value of current customers across a variety of business verticals domestically and internationally.”
  • Expand existing customer relationships. Specialized team focuses on existing customers to make sure they are getting the solutions they need, look for opportunities to add new solutions, deepen and broaden the relationships.  “With respect to expanding existing customer relationships, the team deepened, broadened and grew customer relationships to over 10% of our customer base….”
  • Operational performance.  Slowing the volume of free services, reorganize and realign resources, refine weekly and monthly operating metrics, get smarter and more efficient.  Team laser focused on turnaround.
• New partnerships helping expand international business.  Working through partners rather than staffing up internationally. “Selectica's Global Alliance team successfully expanded its indirect sales channel by signing three new global partners and alliances: Beroe Inc., Partners in Performance, and Xoomworks Consulting and Outsourcing. Through these new partnerships, Selectica contract management and strategic sourcing solutions will be poised to penetrate areas of the globe not currently served by the direct sales team, including India, Australia, New Zealand, and expanded areas of the United Kingdom.”
• Operating expenses. Excluding acquisition related expenses, operating costs were flat and will trend lower over time.

SAN MATEO, CA--(Marketwired - Aug 3, 2015) - Selectica, Inc. (NASDAQ: SLTC) today announced it has completed the acquisition of b-pack for approximately $12.5 million in cash and stock. b-pack, a pioneer and global leader in Source to Pay (S2P) solutions, is focused on providing rich, end-to-end procurement capabilities, including eProcurement, Purchase-to-Pay, Asset Management, Budget Management, Invoice Management, and Expense Management. The acquisition further democratizes the Selectica suite of solutions and expands its reach internationally. For the past 15 years, b-pack has empowered finance and procurement enterprise professionals with flexible, innovative and critical risk mitigation solutions.

Transaction Highlights

• Selectica announced on March 30, 2015 its agreement to acquire b-pack. The transaction was completed on July 31, 2015.
   
• b-pack serves industry leading global customers such as Sony Music, McDonald's, Dannon, Renault-Nissan, Yves Saint Laurent, Gucci, Aon, Telehouse, BNP Paribas, Buccaneer Energy, United Drug, Vinci Airports, Yves Saint Laurent, and French Prime Minister Services.
   
• Phase one of integration plans have been completed including: Selectica and b-pack product and technology team collaboration; sales and marketing strategy development; and proactive customer communications and engagements.
   
• Gartner ranks b-pack as a visionary in the 2015 Magic Quadrant for Procure-to-Pay Suites for Indirect Procurement citing its highly configurable workflow and overall platform; strong out-of-the-box P2P functionality; ease of upgrade and mobile device support.
   
• Needham & Company, LLC served as the financial advisor for the transaction.
   
• Olshan Frome Wolosky LLP and Kramer Levin Naftalis & Frankel LLP represented Selectica in negotiating the definitive merger agreement.
   
• More information about the acquisition can be found at Selectica acquires b-pack.
   

Supporting Quotes

"The visions of Selectica and b-pack are highly aligned -- both companies are seeking to provide technology to finance and procurement professionals to be more efficient and effective while driving out costs, enhancing revenue and reducing risk," said Patrick Stakenas, President and CEO of Selectica. "We believe b-pack's extensive 'Source to Pay' solutions are industry leading, as evidenced by Gartner positioning b-pack as a 'visionary' in its most recent Procure to Pay Magic Quadrant. This is such an exciting moment in the company's history as we now offer a complete end-to-end Source to Pay solution with enterprise grade contract lifecycle management."

"We are very excited to bring our teams and innovative technologies together to build a global industry leader in strategic sourcing, supply management, procure-to-pay and contract management," said Julien Nadaud, CEO and Co-Founder of b-pack. "We've initiated our product integration strategy and efforts to build the best source-to-pay cloud solution, and expect to deliver significant value to the marketplace and our joint customers in the very near term."

Fourth Quarter 2015 Results

• Q4 2015 sales of $5.9 million vs $3.5 million in the prior year period
• Q4 2015 non-GAAP loss per share of $0.22 vs a loss of $0.64 in the prior year period

Quotes from management:

“Since joining Selectica eighteen months ago, the executive team architected a strategic plan to become a leader in Supply Management and Enterprise Contract Lifecycle Management. In fiscal year 2015, this strategy has come to fruition with the integration of Iasta into Selectica and the pending closure of the b-pack acquisition," said Patrick Stakenas, CEO and President of Selectica. "This is a tremendously exciting time for me to lead Selectica as delivery on our strategic roadmap is on track, the re-launch of our sales organization is complete, and the business is now positioned to deliver results. I'm very optimistic as I look ahead at our pipeline, full suite of products and high performing team."

SAN MATEO, CA--(Marketwired - May 4, 2015) - Selectica, Inc. (NASDAQ: SLTC), a leading provider of contract management, supply management -- from source to pay, and configuration solutions, announced that it will be working with Kellogg, one of the world's leading consumer packaged goods companies. Kellogg has chosen Selectica SmartContract® to automate its contract lifecycle processes enterprise-wide and ensure visibility into contract milestones.
In order to manage myriad of contracts with vendors both regional and global, Kellogg picked SmartContract® for its powerful features. After a lengthy evaluation period, Kellogg concluded that Selectica contract lifecycle management offered the most configurable solution available.

"Some of the key features important to us included the Clause Library and the workflow tools," said Dan O'Connor, Kellogg Corporate Counsel "We look forward to using more uniform templates and streamlined tracking processes to shorten contract cycle time and improve vendor relationships."
With SmartContract®, Kellogg will be able to set unique and secure approval cycles for different types of contracts across geographies and standardize templates for their variety of NDA and procurement contract types. The technology allows for productive collaboration enterprise-wide, whether between internal departments or with international vendors.

"We are excited to get Kellogg up and running on SmartContracts®," says David Bush, Chief Sales Officer at Selectica. "This level of contract visibility will provide valuable insight that can help in making profitable decisions. Being awarded for our solution by such a prestigious global brand is a significant achievement for our organization. We look forward to delivering on the high standards that Kellogg expects from us. "

$SLTC ($6.40), a company that provides a platform for enterprises worldwide to create, manage, and optimize business relationships with contracts at its core,  announced it has entered into a definitive agreement to acquire b-pack, a global leader in purchase-to-pay (P2P) software and services, for approximately $12.5 million in cash and stock.  Complementing Selectica's offerings and go-to-market strategy, b-pack delivers solutions in eProcurement, Purchase to Pay, Asset Management, Budget Management, Invoice Management, and Expense Management. b-pack has more than 14 years of expertise and innovation in implementing flexible solutions that address organizations' critical procurement processes and requirements.  Transaction details:

• Selectica intends to pay approximately 90% of the purchase price in Selectica stock (calculated at a fixed price of $6.11 per share, resulting in 1,841,244 shares of common stock to be issued) and 10% in cash. In connection with the acquisition, Selectica will also grant options to purchase 700,000 shares of its common stock to the employees of b-pack.  

• The transaction is currently expected to close during Q1 of Selectica's fiscal year 2016, which ends June 30, 2015.

• b-pack's revenue for calendar 2014 is approximately $4 to $5 million, based upon its preliminary, unaudited financials. It has historically grown in the low double-digits overall, with its SaaS business having grown much faster. A majority of its revenue is currently generated from customers located in mainland Europe, while its U.S. market presence has been building in the last 3 years since opening their U.S. and corporate headquarters in Atlanta, Georgia.

We view contract awards, or acquisitions that are near a quarter's worth of revenues as significant transactions.  As we wrote in our 2/10/2015 email, “The company’s restructuring process is over, and management is stating it is about to enter a period of  prolonged revenue growth with profitability imminent.”

Item 1.01 Entry into a Material Definitive Agreement.

Amendment of Business Financing Agreement

On March 11, 2014, Selectica, Inc. (the "Company") and its wholly owned subsidiary, Selectica Sourcing Inc., entered into Amendment Number Two to Amended and Restated Business Financing Agreement (the "Amendment") with Bridge Bank, National Association ("Bridge Bank"). The Amendment, among other things, increases the Company's available credit under the existing credit facility with Bridge Bank (the "Credit Facility") up to a total available credit amount of $9 million, by increasing the ABL Credit Limit to $5 million, adding a Non-Formula Sublimit of $1.9 million, and adjusting the definition of Borrowing Base to include the additional Non-Formula Sublimit.

The summary set forth above does not purport to be complete and is qualified in its entirety by reference to the Amendment included in Exhibit 10.1 to this Current Report on Form 8-K, which is incorporated by reference herein.

Limited Guaranties

In order to satisfy certain conditions for Bridge Bank to lend additional funds under the Credit Facility and enter into the Amendment, on March 11, 2014, Lloyd I. Miller, III ("Mr. Miller"), the Company's largest stockholder, and MILFAM II L.P. ("MILFAM"), an affiliate of Mr. Miller, each entered into a Limited Guaranty (the "Guaranties") with Bridge Bank to provide a limited, non-revocable guaranty of the Company's Credit Facility in the amount of $1 million each, for a total guaranteed amount of $2 million. The term of the Guaranties is two years. Bridge Bank, in its sole discretion, may reduce, but not increase, the guaranteed amount under the Guaranties during the term.

The summary set forth above does not purport to be complete and is qualified in its entirety by reference to the Guaranties filed as Exhibits 10.2 and 10.3 to this Current Report on Form 8-K, which are incorporated by reference herein.

Guaranty Fee Agreement

In connection with the Guaranties, and pursuant to the binding Guarantee Term Sheet filed as an exhibit to our Current Report on Form 8-K filed on February 9, 2015, on March 11, 2015 the Company entered into a Guaranty Fee Agreement (the "Fee Agreement") with Mr. Miller and MILFAM. Pursuant to the Fee Agreement, the Company agrees to pay Mr. Miller and MILFAM an aggregate commitment fee of $100,000 and a monthly fee during the term of the Guaranties in an amount equal to (i) 1.0% of the amount then guaranteed under the Guaranties for the first 12 months of the term and (ii) 1.5% of the amount then guaranteed under the Guaranties for the second 12 months of the term. Such commitment fee and the aggregate amount of the monthly fees are payable in cash by the Company within five business days following the termination or expiration of the Guaranties.

The summary set forth above does not purport to be complete and is qualified in its entirety by reference to the Fee Agreement filed as Exhibit 10.4 to this Current Report on Form 8-K, which is incorporated by reference herein.

Junior Secured Convertible Promissory Notes

On March 11, 2015, the Company entered into a Junior Secured Convertible Note Purchase Agreement (the "Purchase Agreement") with Mr. Miller, MILFAM and the Lloyd I. Miller Trust A-4, an affiliate of Mr. Miller (collectively the "Investors"), pursuant to which the Company issued and sold junior secured convertible promissory notes (the "Notes") to the Investors in the aggregate principal amount of $3 million.

Second Quarter 2015 Results

• Second quarter 2015 non-gaap revenues of $6.1 million vs $3.9 million in the prior year
• Second quarter 2015 non-GAAP net loss of $0.41 vs loss of $0.37 in the prior year

"We continue to make inroads with significant, enterprise customers that are enthusiastic about the bottom line business value our broad suite of CLM and strategic sourcing solutions provide," said Blaine Mathieu, CEO and President of Selectica. "Of the new enterprise customers we signed in the quarter, three specific examples demonstrate how industry leaders are recognizing Selectica as able to drive reduced costs, better managed risks, and the delivery of real bottom-line value. The first is Rite Aid, a Fortune 500 drugstore chain that is one of our newest strategic sourcing clients. The second, one of the largest professional services firms providing Fortune 500 companies with audit, tax and advisory services, chose Selectica CLM after a very competitive process as their ultimate solution. The third is the US's largest supermarket chain by revenue, Kroger. Just a quarter after the completion of our merger with Iasta, Kroger has committed to Selectica CLM, becoming the first true proof point that the synergies we have been discussing between Selectica and Iasta customers are real and will lead to continued momentum for the second half of FY 2015 and beyond."

First Quarter 2015 Results

• Total revenue for Q1 FY 2015 was $3.8 million, a 6% increase from $3.5 million in Q4 FY 2014.
• Non-GAAP loss per share of $0.44 vs loss of $0.60 in prior year

"With respect to Selectica's contract management business, we continue to execute on our plan to complete the operational improvements that began last year. We are now ramping back up sales and marketing efforts -- especially targeting cross-sell among our significantly increased customer base -- and remain on track to see a return to growth in the back half of 2015. We are pleased to report that we've already demonstrated the upcoming product integration between the Selectica and Iasta platforms to a global financial services company that was previously a client of both companies prior to the acquisition. We are looking forward to providing this combined value to both existing and new global customers," said Blaine Mathieu, CEO and President of Selectica. "During Q1, we engaged some influential new enterprise customers including a major international retailer who is set to become Selectica's single largest contract management client. In addition, this quarter was the official 'go-live' of our contract management solution at one of the leading multinational conglomerates. This is now one of Selectica's largest implementations and we are pleased that we were able to successfully execute on their complicated business requirements."

Fourth Quarter 2014 Results

• Revenues of $3.5 million vs $4.2 in the prior year
• Non-GAAP loss of $0.66 vs loss of $0.47

"While fully recognizing our lack of growth in Q4, we continue to reimagine Selectica, through focused efforts on delivering excellence in customer success. We are pleased with the feedback from both our existing and new customers regarding our improved processes, delivery, training and follow-through. Further, the launch of the most recent version of our contract management solution has been very well received," said Blaine Mathieu, CEO and President of Selectica. "Going forward, we plan to continue to invest in these kinds of product and process initiatives, which are essential to position the company for future growth. In addition to significant operational improvements, we've worked across the company to develop a clear vision for our future and to implement the go-to market strategy to make the vision a reality. The team has been highly engaged and singularly focused and I look forward to seeing more results in the quarters to come."

SAN MATEO, CA--(Marketwired - Jun 5, 2014) -  Selectica, Inc. (NASDAQ: SLTC)

News Summary
Selectica, Inc. (NASDAQ: SLTC) today announced it has reached a definitive agreement to acquire Iasta, an industry leading SaaS-based sourcing and spend management solutions company focused on providing strategic sourcing, business intelligence, spend analysis, supplier management, and contract management technology to empower procurement and sourcing professionals in mid- to large enterprises worldwide.

News Facts

• Iasta is a strategic sourcing software and services leader recognized by:
  • Gartner, Inc.'s Magic Quadrant for Strategic Sourcing Application Suites 2013
  • Forrester Research, Inc.'s Sourcing and Vendor Management Wave 2013
  • Best Places to Work in Indiana 2014
  • Spend Matters Top 50 Providers to Know 2014
    
    
• Selectica entered into a definitive agreement to acquire Iasta for an aggregate purchase price of 1 million shares of Selectica common stock and $7 million cash. In addition, in connection with the acquisition Selectica would provide grants of options to purchase 700,000 shares of its common stock to the employees of Iasta. The deal is anticipated to close during Q2 of Selectica's current fiscal year. Lake Street Capital Markets, LLC served as the financial advisor for the transaction. 
  
  
• Signed commitments from Selectica's existing investors have been secured to fully finance the cash portion of the acquisition price through the purchase of additional shares of our equity at $6.00 per share on an as-converted basis.
  
  
• Iasta's audited calendar year 2013 revenues were $11.0 million and operating income of $0.4 million. 
  
  
• Iasta serves more than 120 enterprise customers including digital businesses such as AOL, Bombardier, Brunswick, Cushman & Wakefield, Ciena, Foot Locker, OfficeMax, Glanbia, Endo Pharmaceuticals, Equifax, Westinghouse, VF Corp, FirstGroup, and Centrica. 
  
  
• Iasta was founded in 2000 and is based in Carmel, Indiana; executive team and staff members include more than 60 people focused on strategic sourcing, spend management, and contract management with well-established operations in the United States and London, UK. 
  
  
• The combined Selectica and Iasta customers and partners are anticipated to directly benefit from the acquisition through easier access to contract management, strategic sourcing, spend management, and configuration solutions and market coverage in more locations worldwide. 

Third Quarter 2014 Results

• Revenues for third quarter 2014 were $3.9 million vs $4.5 in the prior year period.
• Non-GAAP loss per share for the third quarter 2014 were $0.43 per share vs a loss of $0.25 in the prior year period.

Selectica Chairman Michael Brodsky said, "Our principal efforts for the quarter were focused on significantly strengthening our service delivery organization and sales teams, which will seed our future achievements." Brodsky added, "Most importantly we added Blaine Mathieu, a seasoned enterprise SaaS executive, to the team in early December as CEO. I have tremendous confidence that his experience and expertise will position Selectica well for success."

President and CEO Blaine Mathieu commented, "While it is still early days, I've quickly come to fully appreciate the tremendous power and capabilities of Selectica's core technologies, the complex and unique needs of our industry-leading customers, and the significant market opportunity for our solutions. I look forward to working with management and the board to put the business on a strong and solid upward trajectory."

As previously reported, on January 24, 2014, Selectica, Inc. (the “Company”) sold and issued shares of its common stock and preferred stock to certain institutional funds and other accredited investors raising aggregate proceeds of approximately $8.7 million (the “Financing”). The proceeds raised in the Financing resulted in the Company having stockholders’ equity above the $2.5 million minimum required by the NASDAQ Stock Market (“NASDAQ”), and as such, the Company believes that as of the date of this Current Report, it has raised the funds necessary to regain compliance with NASDAQ’s stockholders’ equity requirement.

The Company had received a staff determination letter from NASDAQ in August of 2013 indicating that the Company had not regained compliance with the minimum stockholders’ equity requirement for continued listing under NASDAQ Capital Market Listing Rule 5550(b)(1) (the “Listing Rule”). The Company appealed the staff determination with a NASDAQ Hearings Panel (the “Panel”) on October 3, 2013. In a letter dated October 14, 2013, the Hearings Panel granted the Company’s request for continued listing, subject to (i) on or about January 27, 2014, the Company announcing on Form 8-K and informing the Hearings Panel that it has closed a transaction that resulted in stockholders’ equity above $2.5 million and (ii) on or before February 17, 2014, the Company filing its Form 10-Q for the quarter ended December 31, 2013 evidencing stockholders’ equity of over $2.5 million and providing to the Hearings Panel updated pro forma financial projections evidencing stockholders’ equity through 2014.

The Company announced the Financing by Form 8-K on January 27, 2014 and informed the Hearings Panel of the Financing that results in the Company’s stockholders’ equity being over $2.5 million. Prior to February 17, 2014, the Company plans to file its Form 10-Q for the quarter ended December 31, 2013 evidencing stockholders’ equity of over $2.5 million and providing to the Hearings Panel updated pro forma financial projections evidencing stockholders’ equity through 2014.

NASDAQ will continue to monitor the Company’s ongoing compliance with the stockholders’ equity requirement. If, at the time of the Company’s periodic report for the quarter ending December 31, 2013, the Company does not evidence compliance, it may be subject to delisting

SAN MATEO, CA--(Marketwired - Dec 5, 2013) -  Selectica, Inc. (NASDAQ: SLTC), provider of software that accelerates sales cycles and streamlines contract processes, today announced that its Board of Directors has appointed Blaine Mathieu as President, CEO and member of the Company's Board of Directors, effective immediately.

"Blaine's long, varied, and successful experience in the enterprise and SaaS software space, reflects precisely the key set of skills we were seeking during our search for a CEO," said Michael Brodsky, who will turn over his current duties as Interim CEO and serve as Executive Chairman. "He not only has a track record of envisioning winning products and market strategies, but his deep operational experience across virtually all functions of a B2B software business will ensure Selectica can powerfully execute on its vision. I am excited to have Blaine spearhead the Company's new management team, as we deliver on our mission to improve the effectiveness of our customers' sales and contracting processes while simultaneously embracing a customer-first philosophy."

Since founding his first enterprise software company while still in his teens, Mathieu brings to Selectica more than 25 years of management experience in sales and marketing, product, operations, business development and acquisitions. Formerly, he was chief products officer at Mindjet, where he led go-to-market and product planning for the company's transition to a Software-as-a-Service (SaaS) business model. Prior to Mindjet, he served as chief marketing officer at Lyris, an innovative provider of SaaS, integrated marketing automation solutions.

"Selectica's powerful core technologies position it well to seize the massive opportunities in the growing configure price quote (CPQ) and contract lifecycle management (CLM) spaces," said Mathieu. "I look forward to working with both the management team and our customers in applying industry best-practices to ensure that both Selectica, and our clients, realize their full potential."

Prior to Lyris, Mathieu was general manager for digital media at Corel Corporation and, previously, he worked in research and planning at Adobe Systems and as a senior analyst at Gartner. Mathieu holds an M.B.A. degree in Strategy from Athabasca University in Canada and a Bachelor of Commerce degree in Marketing from the University of Alberta.

Second Quarter 2014 Results

• Revenues of $3.9 million vs $4.6 million in the prior year period.
• Non-GAAP net loss per share of $0.39 vs a loss of $0.08 in the prior year period.

Selectica Chairman and CEO Michael Brodsky said, "The weak second quarter results prompted the company to initiate a significant reorganization of the senior management. We recruited a team of highly experienced professionals with a track record of successful collaboration. During the quarter the team initiated a review of many of the company's key business tactics and processes, with a special focus on an assessing the company's delivery organization. After careful analysis, we determined that our success in the implementation function of the business required greater focus to maintain the satisfaction of our existing top-tier, multinational customer base. As a result of the special focus on the delivery infrastructure, we proactively decelerated sales activity for a temporary period, which is now complete."

"I am pleased with the disciplined approach we have taken toward the business, and early indications from key customers is that significant progress in the quality of implementation of our product is being made," added Brodsky. "The new team is firmly in place and I look forward to positive results as we focus on delivering on our growing pipeline of new prospects for our industry-leading CPQ and contract management solutions and our best-in-class service."

8-K filed August 28, 2013:

Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.

On August 21, 2013, Selectica, Inc. (the "Company") received a staff determination letter from The Nasdaq Stock Market ("Nasdaq") indicating that the Company had not regained compliance with the minimum stockholders' equity requirement for continued listing under Nasdaq Listing Rule 5550(b)(1) and that in accordance with Nasdaq Listing Rule 5101 to preserve and strengthen the quality and integrity of The Nasdaq Stock Market, unless the Company requests an appeal of this determination, the Company's common stock would be suspended. The Company is appealing the staff determination with a Nasdaq Hearings Panel (the "Panel") and is working diligently to regain compliance with the Listing Rule. The Company had anticipated that it had regained compliance with the stockholders' equity requirement based on the sale of the shares of common stock and Series C Convertible Preferred Stock in May 2013, but due to a combination of a number of factors, including the accounting treatment of the Company's warrants as discussed in the Company's Form 10-Q filing for the fiscal quarter ended June 30, 2013, the Company's stockholders' equity as of June 30, 2013 was below the $2.5 million stockholders equity requirement set forth in Nasdaq Listing Rule 5550(b)(1). The Company's appeal allows its common stock to remain listed on Nasdaq pending the issuance of a decision by the Panel following the hearing. There can be no assurance that the Panel will grant the Company's request for continued listing.

First Quarter 2014 Results

• Selectica grew recurring revenue from $2.6 million in Q1 FY 2013 to $3.2 million in Q1 FY2014, a year-over-year increase of 20%.
• Billings for Q1 FY2014 were $3.3 million, compared to $4.1 million in Q1 FY2013, a 21% decrease year-over-year. Billings were $6.7 million in Q4 FY2013. The company defines billings, a non-GAAP financial measure, as revenue recognized during the period plus the change in deferred revenue from the beginning to the end of the period. Please refer to the financial tables below for a reconciliation of this non-GAAP measure to GAAP.
• As of Q1 FY2014, the company had deferred revenue of $6.8 million, a 2% year-over-year increase from Q1 FY2013, when deferred revenue was $6.7 million. As of Q4 FY2013, deferred revenue was $7.9 million.
• On a non-GAAP basis, excluding the non-cash accounting effects of our warrants, preferred stock, and stock-based compensation, the company lost $1.8 million or $(0.60) per share, compared to a loss of $501,000 or $(.18) per share in Q1 FY2013 and $1.3 million or $(0.47) per share in Q4 FY 2013.

Selectica Chairman Michael Brodsky said, "Our first quarter was overall weaker than anticipated. However, I remain fully confident in our potential to continue to grow our top-tier client base and seize the opportunity to supply best-in-class CPQ and contract management solutions to a growing, global market."

"We're pleased to have completed a capital raise earlier in the quarter resulting in net proceeds of approximately $5.2 million through the sale of stock and warrants," said Todd Spartz, Selectica Chief Financial Officer. "We did, however, recognize increased bad debt, resulting in a quarter-over-quarter increase of $415,000 within general administrative expense."

SAN MATEO, CA--(Marketwired - Jun 19, 2013) - Selectica (NASDAQ: SLTC), provider of software that accelerates sales cycles and streamlines contract processes, today announced the immediate availability of its Summer 2013 release, with major enhancements to Selectica CPQ that bring order to enterprise sales complexity.

"For most companies, especially those operating under an 'everything-as-a-service' model, the majority of revenue is tied to existing customers and existing contracts," said Kamal Ahluwalia, Chief Marketing Officer at Selectica. "We're excited to offer the technology that helps these companies facilitate profitable renewals, up-sell, and cross-sell opportunities, and provide dashboards that allow an executive bird's-eye view of where they are making money, where course correction is needed to remove bottlenecks, and where they can adjust their strategy to make direct and indirect channels more productive and valuable."

Selectica's summer release allows companies to reach a greater level of sales effectiveness by leveraging analytics dashboards to increase deal insight, speed and streamline quote and contract approvals, create guardrails that guide sales representatives and channel partners through deal configuration, and collaborate on deals as they progress from within the system.

"We have very specific, sensitive types of information we need to track and maintain with consistency," said Jim Burns, Chief Information Officer and Chief Technology Officer at PSC, a provider of innovative environmental and industrial service solutions. "When we discovered that Selectica could deploy a solution that could consolidate and put guardrails around such complex processes as our estimation and quoting process, we were on board. We know that this will allow our company to be better aligned and respond to the needs of our customers."

According to a recent Gartner report, Configure, Price and Quote Tools Help Redefine the Sales Experience (written by Praveen Sengar, Principal Research Analyst at Gartner, July 12, 2012), "CPQ tools have moved beyond tactical internal sales-focused configuration solutions for salespeople to use for configuring a product and pricing, and quoting that information to the customer in response to a customer request. CPQ tools are being adapted to become an entire end-to-end process that empowers sales to adapt to changes easily, increasing win rates and the profitability of transactions."

SAN MATEO, CA--(Marketwired - Jun 6, 2013) - Selectica (NASDAQ: SLTC, a provider of software that accelerates sales cycles and streamlines contract processes, today announced that it has partnered with Seal Software Group, a provider of solutions to discover, capture, extract and manage contracts. The partnership will provide customers with a faster, more efficient way to load their organization-wide contracts into Selectica Contract Lifecycle Management (CLM) and drive immediate value following implementation.

"Companies come looking for contract management tools when such issues as a lack of contract visibility, controls, and compliance become a liability," said Dan Daehler, Vice President of Global Services and Channels for Seal Software. "Our partnership with Selectica gives customers what they need to fully leverage legacy contracts and the corresponding contractual terms, aiding risk management while enabling visibility and reporting."

Using Selectica and Seal Software, enterprises with thousands of contracts that span the course of their organization's history will now be able to upload, extract, and map contracts and contract data from a number of different file and image types, and quickly load them into the Selectica Contract Lifecycle Management repository where they can be tracked, maintained, analyzed, and reported on.

"With their deep domain experience in enterprise software and global reach to a number of industries we cater to, partnering with Seal Software made perfect sense for us," said Jason Stern, President and CEO of Selectica. "Customers will now have all the tools they need to smooth the legacy load process, and an effective ongoing way to populate their contract repositories."

Working in tandem, Selectica and Seal Software give businesses the ability to:

• Quickly find contracts in shared folders and document storage systems and make them searchable documents in a contract repository
• Significantly increase upload speed for contracts entering the CLM system
• Automatically extract key contract data, including information in embedded images or image files
• Gain complete visibility into contract milestones, deliverables, expirations, and renewals
• Streamline contract processes, from request, authoring, negotiation, and approval through ongoing obligations management, analysis, reporting, and renewals.

SAN MATEO, CA--(Marketwired - Jun 3, 2013) - Selectica (NASDAQ: SLTC), provider of software that accelerates sales cycles and streamlines contract processes, today announced that it has completed a private placement transaction with certain institutional funds and accredited investors for approximately $6.4 million, to be received in two tranches. The first tranche of approximately $5.7 million closed on May 31, 2013. The second tranche is expected to close upon stockholder approval of the transaction at the Company's annual stockholder meeting anticipated to be held in September 2013.

"The proceeds from this transaction will allow us to accelerate the momentum in revenue growth that we've experienced year-over-year, particularly with our SaaS product offerings which have grown over 80%," commented Jason Stern, Selectica President and CEO. "With our vision of providing cloud-based, end-to-end configure, price, quote, and contract management software resonating strongly with the public, this investment of capital will give us the opportunity to further extend our product footprint to global enterprises in existing and new markets."

New, fundamental-focused institutional investors including three of the Special Situations Funds, members of management and member of the board of directors joined the Company's largest existing shareholder in the current round of financing. Lake Street Capital Markets, LLC served as the exclusive placement agent for the transaction.

The securities described herein have not been registered under the Securities Act of 1933, as amended, or any state securities laws, and may not be offered or sold in the United States absent registration with the Securities and Exchange Commission or an applicable exemption from such registration requirements. Selectica has agreed to file one or more registration statements with the Securities and Exchange Commission covering the resale of the shares of common stock and common stock issuable upon conversion of or in connection with the preferred stock and upon exercise of the warrants.

Fourth Quarter Fiscal 2013 Results

• Total revenues for Q4 FY2013 were $4.2 million, compared to $3.2 million for Q4 FY2012, a year-over-year increase of 31%.
• Non-GAAP diliuted net loss for Q4 FY2013 was $0.47 per share, compared to a net loss of $0.72 per share in Q4 FY2012.

"The Selectica story has shifted from one of a turnaround to one of growth," said Jason Stern, Selectica President and CEO. "All of our customers over the past two years have opted for our SaaS offering, which further motivates us to invest in our current vision, already resonating with our customers and the market as a whole: combining our industry-leading CPQ and CLM solutions into a single, integrated CPQC offering."

"Our strong year-over-year revenue growth is a result of significant new customer acquisitions combined with high renewal rates from existing customers," said Todd Spartz, Chief Financial Officer. "As far as our move to SaaS, the numbers tell the story: this quarter 100% of our liscense transactions were subscription, and we've seen 60-70% growth in our SaaS product offerings overall."