With strong action in recent months, it should be noted by traders that Nextech Ar Solutions Corp (OTCMKTS:NEXCF) just announced, as an emerging leader in augmented reality for learning applications, along with Ryerson University, a recognized leader in higher education with over 46,000 students, that Ryerson has partnered with NEXCF to launch RALE, the Ryerson Augmented Learning Experience platform, based on NexTech’s InfernoAR.
According to the release, the technology license agreement has an initial value of $250,000 and may create more revenue tied to additional AR services. The initial launch of RALE will focus on first year Chemistry, Biology and Physics students from the Faculty of Science at Ryerson and enable over 5,000 students to participate in rich, collaborative AR enhanced learning experiences during the Fall and Winter Terms.
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, as an emerging leader in augmented reality for learning applications, along with Ryerson University, a recognized leader in higher education with over 46,000 students, that Ryerson has partnered with NEXCF to launch RALE, the Ryerson Augmented Learning Experience platform, based on NexTech’s InfernoAR.
The chart shows 28% tacked on to share pricing for the stock in the past month. What’s more, the company has seen interest climb, with an increase in recent trading volume of greater than 280% above its longer-run average levels.
Dr. David Cramb, Dean of the Faculty of Science comments, “At Ryerson we took the bold step of re-imagining a virtual lab. With inputs from staff, students and faculty we designed and developed a completely collaborative environment that ensures an immersive and fun learning experience for our students. The incorporation of augmented reality into the STEM learning environment will change pedagogy forever.”
Now commanding a market cap of $317M, 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%. You can bet we will update this one again as new information comes into view. 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.