The result was a loss of $176,376 for fiscal 2012, compared to net income of $78,453 for fiscal 2011. Revenue for the year just ended was $10.9 million, down from just under $12 million the prior year. All figures are in Canadian dollars. The accounting software vendor noted its success in signing new resellers and said the channel's contribution to sales was consistent with 2011. Serenic is continuing to examine its options as a company. It said during the most recently completed year eight business scenarios were identified and reviewed. And while some were rejected “because they do not represent a viable fit that would provide adequate fair value for Serenic shareholders, others may continue to be further investigated.” Noting that it believes the share price does not adequately reflect its true value, Serenic noted it was pursing options and that “These alternatives could involve a capital structure review, strategic partnerships, and/or merger and acquisition scenarios.