$WEYL Growth Strategy:
Management plans for expansion into other markets by repurposing the CreateApp platform into the target countries predominant languages as well as establishing a small base of operations in each target country. The goal is to replicate the early success of TRC in its 2014 year of operations and scale the business to a greater level and a global geographical footprint. From January 2015 until August 2015, TRC concentrated product development efforts towards developing a fully-hosted Software-as-a- Service ("SaaS"), monthly paid service offering versus the business model of an annual licensing fee paid up front as in fiscal year 2014. To increase our recurring revenue, the Company must execute on our strategy of offering the CreateApp platform to SMB's and resellers with an affordable monthly fee, free upgrades, and expansion into new markets.
Growth of the Mobile Apps Industry We believe that there are a number of factors that are contributing to the continued growth of the mobile apps industry: (i) adoption of the 'smartphone continues to increase globally; (ii) lower entry prices of smartphones; (iii) smartphone users are becoming increasingly comfortable with the process of searching for and conducting business on their phones; (iv) businesses are placing more emphasis on implementing a mobile app versus a mobile website thereby enabling customers to gain a higher level of interaction and functionality with the SMB through said mobile app; and (v) emerging markets having broad-based adoption of smartphones and bypassing the desktop PC entirely. We believe that the Company will be able to participate in the growth of the mobile apps industry by offering an affordable, easy to build and use platform.
Employees The Company currently has twelve full-time employees in Singapore, Hong Kong and Jaipur India and our joint venture partner in Jaipur, has 200 developers on staff to assist with technical, customer support, integration and engineering tasks.
