NexTech AR Solutions to Webcast Live at VirtualInvestorConferences.com August 6th
August 05 2020 - 7:30AM
NexTech AR Solutions (NexTech) (OTCQB: NEXCF) (CSE: NTAR) (FSE:
N29), an emerging leader in augmented reality for eCommerce, AR
learning applications, and AR-enhanced video conferencing and
virtual events, today announced that CEO Evan Gappelberg will
present live at VirtualInvestorConferences.com on August 6th.
DATE: Thursday, August 6th TIME: 12:00
pm ESTLINK:
https://www.tinyurl.com/August6VICPR
This will be a live, interactive online event where investors
are invited to ask the company questions in real-time. If attendees
are not able to join the event live on the day of the conference,
an archived webcast will also be made available after the
event.
It is recommended that investors pre-register and run the online
system check to expedite participation and receive event
updates.
Learn more about the event at
www.virtualinvestorconferences.com.
Q2 2020 highlights:
- Revenue grows 133% to $3.5 million
- Gross Profit grows 171% to $2.1 million with a 60% margin
- Cash on hand of $6.4 million
- Working Capital of $7.3 million
- Obtained credit facility from the Royal Bank of Canada of
$600k
- Applied for uplist to NASDAQ CM
- InfernoAR virtual events product launches and revenues begin
scaling
- On 7/21 - Evan Gappelberg, CEO of NexTech AR Solutions
purchased 250,000 shares through a warrant conversion for a total
consideration of $175,000 the shares increased his total holdings
to 6,093,328.
Evan Gappelberg, CEO of NexTech comments, “We are pleased to
report that our preliminary second quarter ended June 30th, 2020
results were positive and very strong across our business segments.
These results were driven by new customer additions, expansion of
product lines and increases in conversions from our e-commerce and
the newly acquired, infernoAR business.” He continues, “We are
uniquely positioned to see our business benefit from this new ‘stay
at home' paradigm shift with our AR ecommerce, video conferencing
and Virtual Events business units. The digital transformation that
is taking place globally is creating more business opportunities
for video conferencing virtual learning, virtual conferences, or
virtual events, and e-commerce than ever before.”
About NexTech AR Solutions
Corp.
NexTech is one of the leaders in the rapidly growing
Augmented Reality market estimated to grow from
USD $10.7 billion in 2019 and projected to reach USD $72.7 billion
by 2024 according to Markets & Markets Research; it is expected
to grow at a CAGR of 46.6% from 2019 to 2024.
The company is pursuing four
verticals:
ARitize™ For eCommerce: The company launched
its SaaS platform for webAR in eCommerce early in 2019. NexTech has
a ‘full funnel’ end-to-end eCommerce solution for the AR industry
including its Aritize360 app for 3D product capture, 3D/AR ads, its
Aritize white label app it’s ‘Try it On’ technology for online
apparel, 3D and 360-degree product views, and ‘one click buy’.
ARitize™ 3D/AR 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/AR ads. In 2019, according to IDC, global advertising spend
will be about $725 billion.
InfernoAR: An advanced Augmented Reality
and Video Learning Experience Platform for Events, is a SaaS video
platform that integrates Interactive Video, Artificial Intelligence
and Augmented Reality in one secure platform to allow enterprises
the ability to create the world’s most engaging virtual event
management and learning experiences. Automated closed captions and
translations to over 64 languages.
ARitize™ Hollywood Studios: The
studio is in development producing immersive content using 360
video, and augmented reality as the primary display platform.
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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