Shares of Nextech Ar Solutions Corp (OTCMKTS:NEXCF) continue to work for investors as the stock finds support and appears to ready itself for continued strength. This has been a strong story during the second half of 2019. To continue to put flesh on the bone of this story, the company just announced that Sterilis Solutions, one of the United States’ most innovative medical waste device manufacturers, has signed on for both NexTech’s WebAR offering as well as its AR University.
According to the release, the announcement marks the beginning of a significant new use case and opportunity for NexTech’s AR technology in the medical device market, which according to Fortune Business Insights is worth $150 billion. Sterilis will be providing NexTech’s AR learning assets to its leading dealers and their sales teams.
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 that Sterilis Solutions, one of the United States’ most innovative medical waste device manufacturers, has signed on for both NexTech’s WebAR offering as well as its AR University.
Recent action has seen 17% piled on for shareholders of the stock during the trailing week. Furthermore, the name has witnessed a pop in interest, as transaction volume levels have recently pushed 61% above the average volume levels in play in this stock over the longer term.
Andy Marshall, CEO, Sterilis stresses the critical importance of using AR technology from NexTech AR Solutions, “AR is more powerful than a brochure especially with the interaction.” He continues that, “We will use it to educate our customers on the core functions of our device as well as supporting our sales team in showing off this 1,100 lb. machine to our global dealer network.”
Now commanding a market cap of $92M, NEXCF has a bankroll ($1.4M) of cash on the books, which compares with about $1M in total current liabilities. NEXCF is pulling in trailing 12-month revenues of $3.5M. In addition, the company is seeing major top-line growth, with y/y quarterly revenues growing at 6612.2%. We will update the story again soon as further details emerge. 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.