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by Stockwatch Business Reporter

The TSX Venture Exchange added 7.67 points to 1,004.88 Tuesday. Darren Devine's halted NEX shell, Oculus Ventures Corp. (OVX), plans to acquire a Calgary tech company, Slyce Inc., as its qualifying transaction.

The shell will roll back its shares 1:1.75, leaving it with 15.25 million postconsolidated shares, and then issue approximately 60 million postconsolidated shares to Slyce shareholders. Oculus will then change its name to that of its target. Slyce has developed a technology that it claims will allow users to acquire a product immediately if they see it in a store or while surfing on-line. If, for example, a customer is in a store and likes an item of clothing, he can take a picture of it with the camera on his cellphone. The product will then pop up and he can click on a buy button. The company's founders describe the product as Shazam for stuff. Slyce recently acquired Hovr.it and computer vision technology developed at York University to improve its technology. It plans to provide its technology to retailers and app developers, who no doubt will have many, many questions, in exchange for licensing and a percentage of sales from use of the technology, but for now it has no revenue.

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