It should be noted that Nextech Ar Solutions Corp (OTCMKTS:NEXCF) just announced that it has launched a new immersive video conferencing software called ScreenAR. The new capabilities are seamlessly integrated into its InfernoAR platform using its ARitize app.
According to the release, the new AR features will allow for AR experiences to “pop” off the computer screen creating a one-of-a-kind immersive experience that everyone is craving today. This new capability is aiming to keep people engaged in virtual classrooms, virtual events, or virtual trade shows, becoming the video conferencing industry standard.
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 launched a new immersive video conferencing software called ScreenAR. The new capabilities are seamlessly integrated into its InfernoAR platform using its ARitize app.
Traders will note better than 310% during the past month in terms of shareholder gains in the name. Moreover, the stock has benefitted from a jump in recent trading volume to the tune of just under 290% above its longer-run average levels.
Evan Gappelberg, Chief Executive Officer, NexTech AR noted, “We are on target to have a record breaking month in July revenue with our InfernoAR platform which we expect will only accelerate with this new product launch.” He continues, “ScreenAR’s immersive technology really changes the game for video conferencing and video learning. Imagine students being able to see the objects the instructor is talking about on screen floating in front of them in AR/3D. Imagine virtual conferences with new product launches, sponsorship opportunities, and interactivity. We see demand for this in Telemedicine, education, virtual conferences, and even gamifying ScreenAR. With this technology we firmly believe that Nextech has a competitive edge in the market and that ScreenAR will drive the massive adoption of our already in demand InfernoAR software. We believe that video combined with the immersive nature of AR puts us head and shoulders above the other video conferencing platforms out there.”
Currently trading at a market capitalization of $459M, NEXCF has a chunk ($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%. We will update the story again soon as developments transpire. 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.