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Nextech AR Solutions Corp
Symbol C : NTAR
Shares Issued 42,837,872
Close 2019-01-10 C$ 0.82
Recent Sedar Documents

Nextech AR holds $2.7-million in cash

2019-01-11 08:31 ET - News Release

Mr. Evan Gappelberg reports

NEXTECH CEO ANNOUNCES SHAREHOLDERS UPDATE

Nextech AR Solutions Corp. has provided its first shareholder update since its listing date of Oct. 31, 2018.

Nextech AR Solutions has emerged as an early adopter and market leader of augmented reality (AR) and artificial intelligence (AI), and has been growing quickly with 21 employees with three offices located in Toronto, Dallas and New York.

  • Jan. 10, 2019, cash position at $2.7-million;
  • Oct. 31, 2018, listing price at 25 cents;
  • Jan. 10, 2019, closing price at 82 cents, an over 227-per-cent increase.

Jan. 8, 2019: entered into an agreement to acquire AR Ecommerce LLC in consideration for two million common shares of Nextech. AR Ecommerce is a leading e-commerce business which generated approximately $2.65-million (U.S.) in revenue (unaudited) and $275,000 (U.S.) in EBITDA (earnings before interest, taxes, depreciation and amortization) for 2018 (unaudited) for the period from Jan. 1, 2018, to Dec. 31, 2018. AR Ecommerce has been in business since 2011 and has served hundreds of thousands of customers over the years. This acquisition brings in house a substantial e-commerce business which Nextech plans on using as a showcase for its augmented reality (AR) and artificial intelligence (AI) technology stack as well as a foundation for additional strategic acquisitions.

Jan. 3, 2019: Integrated the Experience API (xAPI) into its patent pending Web-enabled AR eCommerce platform. xAPI integration enables the tracking of microbehaviours throughout the AR experience creating a valuable sea of data for e-commerce sites.

Dec. 27, 2018: began integrating IBM Watson's machine learning (ML) algorithms into its patent-pending Web-enabled AR platform. With this integration Nextech is quickly building out a next-generation, industry-first, artificial-intelligence-(AI)-based AR e-commerce solution. With AI the platform will now be able to offer scanning of the body, hands and feet as well as facial features, to understand an individual shopper's style, sizes and preferences, as well as creating AR holograms acting as personal shopping assistants. The AR e-commerce platform is expected to exit beta and have a commercial launch in January, 2019, with AI features beginning to rollout in February, 2019.

Dec. 20, 2018: launched a new Unity plugin developer-focused program called the ARitize Studio. ARitize Studio is a publishing platform available for the creation and distribution of AR-first and AR-native experiences for iOS, Android and Nextech's patent-pending Web-enabled AR platform. With this launch Nextech has built a powerful suite of tools which makes the creation of engaging augmented reality experiences simpler and more efficient for the Unity developer community.

Dec. 20, 2018: chief executive officer Evan Gappelberg bought $250,000 or 500,000 shares of Nextech common shares. He acquired the shares at 50 cents per share through the exercise of his 50-cent warrants. This investment is a follow-on investment to his $125,000 purchase which he made in May, 2018.

Dec. 11, 2018: successfully integrated its patent-pending Web-enabled AR eCommerce solution with Shopify, WordPress and Magento. With this integration all Shopify merchants, Magento merchants and WordPress sites which together comprise about 90 per cent of e-commerce, will have the ability to easily integrate AR shopping experiences into their sites.

Dec. 5, 2018: BTV -- Business Television came by the Nextech AR Toronto office to chat with Mr. Gappelberg about the company's latest additions to the ARitized Ecomm platform.

Dec. 4, 2018: acquired edCetra, a premier e-learning on-demand platform. Since signing an exclusive licence agreement in May, 2018, Nextech has been working on integrating augmented reality into the edCetra platform which is now complete. The company is preparing the e-learning platform for a relaunch in January, 2019, with the added augmented reality feature. Nextech sees education and training as another substantial opportunity where augmented reality can transform an entire industry.

Nov. 29, 2018: filed a comprehensive provisional patent application for its recently announced Web-enabled augmented reality e-commerce solution and is in the process of filing a fast-tracked non-provisional application over the next 60 days. Nextech's patent allows for an efficient way of integrating augmented reality and mixed reality experiences across all platforms without having to install an app.

Nov. 26, 2018: released a beta version of its Web-enabled augmented reality e-commerce solution. With a Web-enabled AR solution, Nextech has eliminated the biggest friction point of AR, which was that a consumer first had to download an app to experience AR e-commerce. Over the next few weeks Nextech will be working with its partners to install its embed code into their websites and ARitize their products enabling on-line AR shopping.

Oct. 31, 2018: The Canadian Securities Exchange approved the listing of the common shares of Nextech. Nextech's shares began trading on the CSE on Oct. 31, 2018, under the trading symbol NTAR.

We seek Safe Harbor.

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