Shares of Nextech Ar Solutions Corp (OTCMKTS:NEXCF) have been launching in recent action, powering as much as 70% higher over the past week. Helping to foment that action, the company just announced the launch of a game-changing CaptureAR technology that will add to the revenue-generating power of the ARitize AR e-commerce solution and the soon-to-be-launched AR, 3D 360 advertising platform.
According to the release, “one of the most significant barriers to the mass-market adoption of augmented reality has been capturing or creating, at scale, 3D AR objects that end users can interact with. CaptureAR simplifies 3D AR creation by capturing 3D AR products from 4K video that you can film with your cell phone’s camera. Previously, capturing or creating 3D AR objects has been a painfully time-consuming and expensive process which has held AR back from mass adoption. NexTech’s CaptureAR technology removes these barriers and enables the mass adoption and growth of augmented reality. CaptureAR will move the adoption of AR technology into overdrive bringing NexTech’s AR e-commerce and advertising network with it.”
Nextech Ar Solutions Corp (OTCMKTS:NEXCF) bills itself as a company that engages in the acquisition and development of augmented reality (AR) technology.
The company offers ARitize eCommerce, the browser-based and Web enabled AR shopping platform; ARitize Retail Showroom that provides choice, convenience, ratings, and reviews with the benefits of being in-store; ARitize App that allows to sell, learn, communicate, and share product, service, or experience through AR; and ARitize University, an AR learning system.
It also provides ARitize Studios, which enables customers to beam in to 3D volumetric space as a hologram, and create an interactive yet intimate connection with audiences from all over the world; and Hoot 3D eCommerce solution that shows 3D and 360 degree product photography.
In addition, the company sells vacuum cleaners and parts through retail stores and online sales channels; and pet supplements through online sales channels. NexTech AR Solutions Corp. was incorporated in 2018 and is based in Vancouver, Canada.
According to company materials, “NexTech is a leader in the rapidly growing AR industry, estimated to hit $120 billion by 2022, according to Statista. NexTech, the first publicly traded “pure-play” AR company, began trading on the CSE on October 31st, 2018. NexTech has a two-pronged strategy for rapid growth including growth through acquisition of eCommerce businesses and growth of its omni-channel AR SaaS platform called ARitize™. NexTech has an exclusive license to a portfolio of patents 7,054,831, 7,266,509 and patent-pending applications 15351508, 62457136, 62559487, related to interactive gaming, interactive advertising, and augmented reality (“AR”) technology. The company is pursuing four multi-billion dollar verticals in AR.”
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As noted above, NEXCF just announced the launch of a game-changing CaptureAR technology that will add to the revenue-generating power of the ARitize AR e-commerce solution and the soon-to-be-launched AR, 3D 360 advertising platform.
Evan Gappelberg, CEO of NexTech states, “CaptureAR is a pivotal new technology which we believe will accelerate the augmented reality global marketplace. With CaptureAR our customers will achieve incredible time and money savings. What could take an experienced 3D modeler days of work to create a 3D version of a product, can now be done in a matter of minutes—and with the same resolution and image fidelity as if the 3D model was designed from scratch, which is huge. CaptureAR also saves companies a significant amount of money by eliminating the need to invest in expensive production pipelines or purchase costly 3D scanning equipment. CaptureAR makes creating 3D objects easy, anyone can do it with 4K video capture from a cell phone combined with our tech platform, no special training or skills required making this a major industry break-through.”
Earning a current market cap value of $70.5M, NEXCF has a stash ($330K) of cash on the books, which must be weighed relative to about $1.5M in total current liabilities. One should also note that debt has been growing over recent quarters. NEXCF is pulling in trailing 12-month revenues of $2M. In addition, the company is seeing major top-line growth, with y/y quarterly revenues growing at 5534%. As more color becomes clear on the name, we will review the situation and update our take. Sign-up for continuing coverage on shares of $NEXCF stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!
Disclosure: we hold no position in $NEXCF, either long or short, and we have not been compensated for this article.