It may pay to take note of the fact that Nextech Ar Solutions Corp (OTCMKTS:NEXCF) just announced that it has expanded its infernoAR platform integration with Microsoft Teams and Skype.
According to the release, this integration is on the heels of announcing on March 24th it had integrated Zoom into the InfernoAR platform. These critical integrations continue to extend the capabilities of the platform, broaden the utility of the platform and help end-users become even more productive while using the platform. Users can now launch a Zoom, Teams, or Skype meeting, breakout from within the InfernoAR platform, or upload a recorded meeting and make it keyword searchable with closed captioning in 64 languages. According to Business Insider, Teams has 44 million daily active users (DAU) while Skype has 40 million DAU and Zoom has 300 million daily participants.
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 it has expanded its infernoAR platform integration with Microsoft Teams and Skype.
Recent action has seen 73% added to share values of the company over the past week of action. Furthermore, the listing has witnessed a pop in interest, as transaction volume levels have recently pushed topping 160% above the average volume levels in play in this stock over the longer term.
Evan Gappelberg, NexTech CEO comments, “We are continuing to move very fast with video conferencing technology integrations into our InfernoAR platform and expect to have even more exciting integrations completed in short order. With Zoom, Microsoft Teams and Skype we have extended the appeal of the InfernoAR platform. As everyone has a different preference or existing account for video conferencing, this new integration allows users to pick which platform they want to use which further strengthens our market position.”
At this time, carrying a capital value in the market of $123M, NEXCF has a reserve ($1.4M) of cash on the books, which is balanced by about $1M 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 $1.6M. In addition, the company is seeing recent top-line growth, with sequential quarterly revenues growing at 3408.3%. 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.