Nextech Ar Solutions Corp (OTCMKTS:NEXCF) just announced that Romios Gold Resources (OTC:RMIOF) a junior mining company, has contracted for the company’s 3D/AR omni-channel services.
According to the release, “Today’s announcement marks the beginning of a significant new use case and opportunity for NexTech’s AR Solutions in the mining sector. The top 40 global mining companies, which represent a vast majority of the whole industry, reported some $683 billion U.S. dollars of revenue in 2018 according to Statista. NexTech’s industry-leading AR technology will help drive Romios marketing activities in 2020 and creates an enormous new business opportunity for NexTech.”
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 Romios Gold Resources (OTC:RMIOF) a junior mining company, has contracted for the company’s 3D/AR omni-channel services.
Recent action has seen 54% piled on for shareholders of the listing during the trailing month. Furthermore, the listing has seen interest climb, with an increase in recent trading volume of 67% over the long run average.
“Romios Gold Resources is delighted to work with NexTechAR as we introduce Augmented Reality to the Resource industry together. Tom Drivas, President and Director continues, “We believe there is great value in allowing potential investors and industry experts to view core samples from our exploration projects in high-fidelity 3D. Going forward we will look to find other innovative ways to leverage this technology into our various marketing strategies, and pioneer together, new industry standards.”
Currently trading at a market capitalization of $121M, NEXCF has a stash ($1.4M) of cash on the books, which stands against 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.