NexTech AR Solutions (NexTech) (OTCQB: NEXCF) (CSE: NTAR) (FSE:
N29), a leader in augmented reality for eCommerce and AR learning
applications and Virtual Events, announced that CEO Evan Gappelberg
purchased 929,885 common shares of NexTech common stock, his third
purchase for the year 2020. Of the 929,885 common shares, 105,589
common shares will have a one-year resale restriction.
NexTech CEO Evan Gappelberg purchased the 824,296 shares by
converting his outstanding convertible note issued in July 2019. He
also exercised another 105,589 warrants which put an additional
$73,921 onto the balance sheet bringing his total investment from
both the July note which was $657,000 and his $73,921 warrant
conversion to $730,921; further bolstering the company's cash and
inventory position which is already over $3 million. The new
purchase of 105,589 shares will have a one-year resale
restriction; he now owns 5,676,140 common shares.
Gappelberg comments, “With the acquisition of our new Virtual
Events software platform Jolokia whose customers include Johnson
and Johnson, Viacom, Polycom and others, I’m more confident than
ever with our business model for 2020 and beyond.” He continues,
“Personally, I believe the current stock price still does not yet
reflect NexTech’s strong market leadership position and growth
potential for our new InfernoAR platform, Aritize360 app, ARitize
app, 3D/AR ad network and WebAR business in 2020 and beyond, which
is why I continue to invest personal funds in company shares."
February 28th announcement that CEO Evan Gappelberg and his wife
each purchased $50,000 USD for a total purchase of $100,000 USD of
NexTech stock in open market buys. In March NexTech CEO Evan
Gappelberg purchased an additional 100,000 shares by converting
$0.70 warrants.
Additionally, the remaining $246,375 principal amount of
convertible debentures of the initial $985,500 principal amount of
debentures issued by the Company in July 2019 have now been
converted into common shares of the Company. A total of 1,751,778
common shares in the capital of the Company have been issued to the
holders of such debentures in accordance with the terms of the
debentures.
Recent Company Highlights in 2020:
- The Aritize360 app launching in May 2020.
- The company achieved $800,000 in revenue for the month of
January 2020 and gross profits of $528,000 representing a 66% gross
profit versus a 59% gross profit last month. This is the highest
revenue achieved in a single month for NexTech, which represents a
110% increase in revenue and 172% increase in gross profits year
over year.
- For the month of February of $685,000 and gross profit margin
of 66% or $450,000 representing a 184% increase in revenue and 271%
increase in gross profits year over year.
- The company received an additional 2020 order from Walther
Arms, most famous as the manufacturer of James Bond's Walther
PPK.
- The company has launched a major enhancement by expanding the
platform to serve Apple’s .USDZ files alongside the default format
GLTF.
- The company announced a new partnership with Poplar
(www.poplar.studio) that will allow Poplar to leverage NexTech AR’s
cutting-edge WebAR technology, and NexTech AR to make use of
Poplar’s brand new AR campaign creation platform.
About NexTech AR Solutions Corp.
NexTech is one of the leaders 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™.
The company is pursuing four multi-billion-dollar verticals in
AR.
ARitize™ For eCommerce; The company launched its technologically
advanced webAR for eCommerce early in 2019 and has been rapidly
signing up customers onto its SaaS platform. Customers include
Walther Arms, Wright Brothers, Mr. Steak, and Budweiser. NexTech
has the first ‘full funnel’ end-to-end eCommerce solution for the
AR industry including its 3D product capture, 3D ads for Facebook
and Google, ‘Try it on’ technology for online apparel, 3D and
360-degree product views, and ‘one click buy’.
ARitize™ University; having launched in June 2019, the app-based
solution allows companies and educational establishments to
leverage all of their existing 2D assets - YouTube videos, PDF
documents, PowerPoint decks, images, etc. - and then overlay
immersive 3D-AR experiences on top of that content for an
interactive training experience that drives productivity.
ARitize™ Hollywood Studios; the studio has created a proprietary
entertainment venue for which it is producing immersive content
using 360 video, and augmented reality as the primary display
platform.
ARitize™ 3D-AR-360 Advertising Platform: launched in Q1 2020 the
ad platform will be the industry's first end-to-end solution
whereby the company will leverage its 3D asset creation into 3D,
360, AR ads. In 2019, according to IDC, global advertising spend
will be about $725 billion.
To learn more, please follow us on Twitter, YouTube, Instagram,
LinkedIn, and Facebook, or visit our website:
https://www.nextechar.com.
On behalf of the Board of NexTech AR Solutions Corp.“Evan
Gappelberg”CEO and Director
For further information, please contact:
Evan GappelbergChief Executive
Officerinfo@nextechar.com
The CSE has not reviewed and does not accept responsibility for
the adequacy or accuracy of this release.
Certain information contained herein may constitute
“forward-looking information” under Canadian securities
legislation. Generally, forward-looking information can be
identified by the use of forward-looking terminology such as, “will
be”, “looking forward” or variations of such words and phrases or
statements that certain actions, events or results “will” occur.
Forward-looking statements regarding the Company increasing
investors awareness are based on the Company’s estimates and are
subject to known and unknown risks, uncertainties and other factors
that may cause the actual results, levels of activity, performance
or achievements of NexTech to be materially different from those
expressed or implied by such forward-looking statements or
forward-looking information, including capital expenditures and
other costs. There can be no assurance that such statements
will prove to be accurate, as actual results and future events
could differ materially from those anticipated in such statements.
Accordingly, readers should not place undue reliance on
forward-looking statements and forward-looking information. NexTech
will not update any forward-looking statements or forward-looking
information that are incorporated by reference herein, except as
required by applicable securities laws.
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