One stock that has been breaking out in recent action is Nextech Ar Solutions Corp (OTCMKTS:NEXCF). To add some further color to the story, the company just announced it has signed a one-year contract to provide its InfernoAR Virtual Events video conferencing platform services to Real Asset Media.
According to the release, the initial contract value is for $135,000 with the potential for substantial additional revenue as augmented reality use cases emerge. Real Asset Media is a leading pan-European event provider, creating forums in the major centers of Europe to link local market investment expertise with pools of capital in the UK, Germany, France, Holland, Scandinavia and beyond into the US, North America, M/E and Asia. Real Asset Media will launch REALX.global, the virtual conference and exhibition for the commercial real estate markets in September 2020.
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 it has signed a one-year contract to provide its InfernoAR Virtual Events video conferencing platform services to Real Asset Media.
Traders will note 92% added to share values of the name over the past month of action. In addition, the name has seen interest climb, with an increase in recent trading volume of exceeding 210% beyond what we have been seeing over the larger time frame.
Evan Gappelberg, CEO of NexTech comments, “We are delighted to work with Real Asset Media to help them create a one-of-a-kind immersive experience by using InfernoAR, the world’s most advanced Augmented Reality and Video Learning Experience Platform for Events.” He continues, “We see surging demand for our services across a wide spectrum of use cases including governments, universities, sports teams, corporations, religious institutions, and more as a paradigm shift to ‘video being the new voice’ and a virtual world takes hold, creating a new and urgent demand for our services globally.”
At this time, carrying a capital value in the market of $199M, NEXCF has a reserve ($2.3M) of cash on the books, which compares with 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.