OneSoft Solutions Inc. (Formerly Serenic Corporation) Reports Financial Results for the Three Months Ended May 31, 2014

THIS PRESS RELEASE IS NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR
FOR DISSEMINATION IN THE UNITED STATES. 


OneSoft Solutions Inc. (the "Company" or "OneSoft"), formerly Serenic
Corporation ("Serenic"), (TSX VENTURE:SER), reports its financial results for
the three months ended May 31, 2014.




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                                         Three months ended May 31          
                               ---------------------------------------------
                                                                 Increase / 
                                          2014           2013     (Decrease)
                               ---------------------------------------------
                                             $              $              %
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Revenue                              3,369,094      2,603,370          29.4 
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Net loss                             (210,037)      (317,052)         (33.8)
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Basic and diluted loss per                                                  
 share                                  (0.02)         (0.02)             - 
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Adjusted EBITDA (1)                  (132,440)      (238,254)          44.4 
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Adjusted EBITDA as % of sales            (3.9)          (9.2)          57.0 
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Weighted average common shares                                              
 outstanding - basic                13,961,958     14,639,646               
-------------------------------------------------------------               
Weighted average common shares                                              
 outstanding - diluted              13,961,958     14,724,023               
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(1) Adjusted EBITDA represents earnings before interest, taxes, depreciation,
amortization, and stock option expense. Please review the Serenic Management
Discussion and Analysis ("MD&A") for the Three months ended May 31, 2014 for
more information


SALE OF SERENIC SUBSIDIARIES JULY 28, 2014 

On July 28, 2014, Serenic closed on a sale transaction whereby Sylogist Ltd.
acquired its three operating subsidiaries which were a substantial portion of
Serenic's assets, for net cash of approximately $7,911,471, subject to certain
closing adjustments. Please refer to the Serenic Press Release dated July 28,
2014 and the Management's Discussion and Analysis for the Three months ended May
31, 2014, both of which are posted on SEDAR. 


CHANGE OF NAME OF CORPORATION and CHANGE OF CEO 

On July 28, 2014, Serenic Corporation changed its name to OneSoft Solutions
Inc., as this name change was required as a condition of the sale of the
subsidiaries to Sylogist. Dwayne Kushniruk will replace Randy Keith as CEO and
President of the Company, effective August 1, 2014. The Board wishes to thank
Mr. Keith for his dedicated leadership of the Company since 2007, and looks
forward to Mr. Keith's continued contribution as a director of the Company for
the ensuing year.


QUARTER HIGHLIGHTS 

During the quarter ended May 31, 2014 ("Fiscal 2015 Q1") revenue increased 29.4%
to $3,360,094 from $2,603,370 for the comparative quarter last year. Software
license sales were 43.3% higher year over year due to increases in Serenic
Navigator license sales that were sold directly by Serenic and by reselling
partners in the USA, Canada and in Africa. Services revenue increased 70% due to
some large Human Resource Information System ("HRIS") projects being implemented
by subcontractors, which were supplementary to Serenic's usual level of
engagements with implementations and software version upgrades for direct
customers. Serenic introduced its Total Care Plan in September 2013, which also
added to Services revenue and which has resulted in an increased demand by
customers for software version upgrades. Software maintenance contract revenue
also increased year over year. The increase in the Canadian to U.S. dollar
exchange rate also favourably affected revenues. 


Gross profit increased 9.8% year over year, to $1,900,108 from $1,730,542, due
to the increase in license and maintenance contracts revenue. Expenses were
similar to last year at $2,080,442 versus $2,053,909 in the comparable period
last year. While savings were realized from staff reductions that were made in
February, 2014, the increase in the foreign exchange rate offset these and other
cost savings measures. The net loss reduced year over year, from $317,052 in Q1
of Fiscal 2014 to $210,037 in Q1 of Fiscal 2015. Adjusted EBITDA also decreased
year over year, from a loss of $238,254 in Q1 of Fiscal 2014 to a loss of
$132,440 in Q1 of Fiscal 2015. 


OUTLOOK 

The sale of the Serenic operating companies to Sylogist is very beneficial. This
has allowed us to unlock approximately $6.9 million (approximately $0.45 per
share on a fully diluted basis) of value for shareholders, and also provide
funding to advance the on-going Cloud business. With significant investment
already having been made in the Cloud technology and products, we anticipate
that new OneSoft divisions will now be operated with only minimal staff, and
essentially in "start-up" mode until Cloud-only revenues start to occur and
build. 


The OneSoft IP includes: the underlying cloud technology that enables Serenic's
legacy Dynamics NAV ERP products to be re-configured for Microsoft's Cloud and
volume strategies: and, three products: Express, Essentials and Donor Vision
2013, which are derivative products of the Serenic legacy products. OneSoft's
first order of business is to execute upon its plans to sell the OneSoft
products into new NFP markets that are ideally suited for these products, which
have not historically been addressable with Serenic's legacy solutions. This
will be conducted pursuant to the OEM arrangement that OneSoft entered into with
the Serenic operating companies immediately prior to Sylogist acquiring the
Serenic companies. We intend to also investigate potential opportunities to
enter into similar arrangements with other Dynamics NAV vendors who have
developed ERP solutions for other vertical markets, whereby OneSoft's underlying
technology can be applied to those products, and new volume markets within those
verticals can be addressed. We believe that developing this bridge to Microsoft
Cloud is not easily repeatable by or feasible for most small software companies
to pursue, particularly by those who had not yet committed to this development
strategy and are now lagging from a technology perspective. 


Management's immediate priority is to now accelerate and leverage the OneSoft
strategies. Investigation will be conducted to determine alternatives in this
regard, which may include organic growth strategies as well as joint venture or
M&A scenarios. The Company has sufficient cash to operate as envisioned (which
will likely be on a negative EBITDA basis), for approximately four quarters. We
anticipate that further announcements to outline future strategies will be
forthcoming in the next couple of quarters.


ON BEHALF OF THE BOARD OF DIRECTORS 

OneSoft Solutions Inc. 

Dwayne Kushniruk, Chairman

Forward-looking Statements 

This news release contains forward-looking statements relating to the future
operations and profitability of the Company and other statements that are not
historical facts. Forward-looking statements are often identified by terms such
as "may", "should", "anticipate", "expects", "believe", "will", "intends",
"plans" and similar expressions. Any statements that are contained in this news
release that are not statements of historical fact may be deemed to be
forward-looking statements. Such forward-looking information is provided for the
purpose of providing information about management's current expectations and
plans relating to the future. Investors are cautioned that reliance on such
information may not be appropriate for other purposes, such as making investment
decisions. In respect of the forward-looking information and statements, the
Company has provided such in reliance on certain assumptions that it believes
are reasonable at this time, including expectations and assumptions concerning,
among other things: interest and foreign exchange rates; planned synergies,
capital efficiencies and cost-savings; applicable tax laws; the sufficiency of
budgeted capital expenditures in carrying out planned activities; the
availability and cost of labour and services; the success of growth projects;
future operating costs; that counterparties to material agreements will continue
to perform in a timely manner; that there are no unforeseen events preventing
the performance of contracts; and that there are no unforeseen material
development or other costs related to current growth projects or current
operations. Accordingly, readers should not place undue reliance on the
forward-looking information contained in this press release. 


Readers are cautioned that the foregoing list of factors is not exhaustive.
Forward-looking statements contained in this news release are expressly
qualified by this cautionary statement. The forward-looking statements contained
in this news release are made as of the date of this news release, and the
Company undertakes no obligation to update publicly or to revise any of the
included forward-looking statements, whether as a result of new information,
future events or otherwise, except as expressly required by Canadian securities
law.


This news release does not constitute an offer to sell or the solicitation of an
offer to buy any securities within the United States. The securities to be
offered have not been and will not be registered under the U.S. Securities Act
of 1933, as amended, or any state securities laws, and may not be offered or
sold in the United States absent registration or an applicable exemption from
the registration requirements of such Act or other laws.


The TSX Venture Exchange has not reviewed and does not accept responsibility for
the adequacy or accuracy of this release.


FOR FURTHER INFORMATION PLEASE CONTACT: 
OneSoft Solutions Inc.
Dwayne Kushniruk
[e-mail]


OneSoft Solutions Inc.
Paul Johnston
CFO
780.426.5387 ext 509
[e-mail]


Investor Relations
Cantech Communications
Nick Waddell
[e-mail]