Yet another big breakout in play here, as Nextech Ar Solutions Corp (OTCMKTS:NEXCF) just announced that with the help of Fastly (NYSE: FSLY), a global edge cloud platform, it achieved a breakthrough in enterprise video security. According to the release, its implementation of JWT with Fastly brings token authentication to the edge greatly enhancing security and performance.
Scott Bishop of Fastly comments, “We were happy to work with NexTech AR Inferno’s team in bringing their JWT authentication to the edge. Our platform’s design allows us to compute at the edge and authenticating JWT at this stage is exactly the kind of use case we envisioned. Computing these at the edge enhances both Inferno ARs security as well as performance. What we have achieved with InfernoAR is fantastic”.
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 with the help of Fastly (NYSE: FSLY), a global edge cloud platform, it achieved a breakthrough in enterprise video security.
The chart shows 92% during the past month in terms of shareholder gains in the listing. Furthermore, the company has benefitted from a jump in recent trading volume to the tune of greater than 210% over what the stock has registered over the longer term.
Evan Gappelberg, Chief Executive Officer, NexTech AR noted “InfernoAR is a category killer product for NexTech” He continues “InfernoAR, is the world’s most advanced SaaS AR Video Conferencing and Video Learning Experience Platform for Events, that is loaded with features including; Interactive Video, Artificial Intelligence and Augmented Reality all in one super-secure platform allowing enterprises the ability to create the world’s most engaging virtual event management and learning experiences with the added knowledge that their data is secure. With automated closed captions and translations to over 64 languages InfernoAR is in a class by itself.”
Earning a current market cap value of $182M, NEXCF has a chunk ($2.3M) of cash on the books, which is balanced by about $1.1M 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 $2.6M. In addition, the company is seeing recent top-line growth, with sequential quarterly revenues growing at 5677.6%. 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.