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Nextech AR Solutions Corp
Symbol NTAR
Shares Issued 63,427,300
Close 2020-06-29 C$ 6.04
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Nextech AR to supply video conferencing tech to Dallas

2020-06-29 09:43 ET - News Release

Mr. Evan Gappelberg reports

NEXTECH'S INFERNOAR VIRTUAL EVENTS PLATFORM CHOSEN BY DALLAS INDEPENDENT SCHOOL DISTRICT

Nextech AR Solutions Corp. has signed a contract to supply its InfernoAR video conferencing and virtual events platform to the Dallas Independent School District (Dallas ISD).

Nextech AR chief executive officer Evan Gappelberg comments, "We are excited to have been chosen by the Dallas ISD and we look forward to working with them on this and other projects." He continues: "We continue to win new business; as enterprise pivots away from less secure platforms, people are looking for platforms that stop breaches and protect privacy. InfernoAR video conferencing and virtual events platform recently reported a breakthrough in security with the help of Fastly, an edge computing company. Bringing token authentication to the edge greatly enhances security and performance, which is huge for winning more contracts from our growing customer base. We are currently experiencing a surge in demand for our services across our multiple business segments, including AR e-commerce, our ARitize app, and our InfernoAR video conferencing and virtual events platform."

Security is a core feature of InfernoAR -- the platform has serviced many Fortune 500 businesses, including Johnson and Johnson, Viacom, Merk, and others. Token authentication allows the CDNs to reject serving videos to unauthorized users; by taking the JWT authentication to the edge; security is pushed closer to the user and load is taken off the core application.

About InfernoAR

InfernoAR supports clients that require integration with enterprise systems, custom workflow, cognitive search and discovery, interactive features, and secure multiCDN streaming in front of and behind the firewall. InfernoAR has been providing top products and service in the video streaming space for over 10 years.

Recent company highlights in 2020

June 22, 2020: The company signed a one-year contract to provide its InfernoAR virtual events video conferencing platform services to Real Asset Media. The initial contract value is for $135,000, with the potential for substantial additional revenue as augmented reality use cases emerge.

June 19, 2020: Nextech closed a private placement of 1,528,036 units priced at the market price of $2.10 per unit for gross proceeds of $3,208,875. This financing provides the company with a healthy cash and inventory position of over $7.5-million -- its highest ever.

June 18, 2020: The company announces that it has signed a partner supplier agreement with BDA LLC. BDA Sports will be using the InfernoAR virtual event platform for its signature annual Think Tank 2020 program for teams in NHL, NBA, MLB and NFL.

June 10, 2020: The company signed a partner agreement and contract to provide its InfernoAR virtual events platform services to Skybridge World Dubai clients. Skybridge is a leading events, exhibition and marketing solutions provider to global corporations whose clients include Emirates Glass, IBM, Lilly, Henkel, Amgen and many others. Nextech and Skybridge have already solidified their partnership and signed up their first customer, Bohringer Ingelheim.

June 4, 2020: The company launched its new ARitize360 app, now live and available for a free download on both iOS and Android. The app's three-dimensional (3-D) scan technology will add to the revenue-generating power of its augmented reality (AR) e-commerce solution and its recently launched 3-D/AR advertising platform.

June 3, 2020: The company achieved record revenue and gross profit for the month of May, 2020. Both revenue and gross profit showed dramatic increases in May. Notably, compared with May, 2019, the company's revenue increased 169 per cent to $1.3-million while gross profit grew 290 per cent to $800,000, representing the highest revenue and gross profit ever achieved in a single month.

June 1, 2020: CEO Mr. Gappelberg purchased 100,000 shares. It was reported that on May 5, 2020, he purchased 929,885 common shares of Nextech common stock; this is his fourth buy for the year of 2020.

May 25, 2020: The company signed a contract to supply its augmented reality solutions to a $30-billion market capital, publicly traded global technology company.

May 22, 2020: The company announced very positive results for its recently launched 3-D/AR ad network which went live on Feb. 4, 2020 . Using the company's 3-D/AR ads resulted in a 300-per-cent increase in sales conversions, a 32-per-cent increase in click-through rate (CTR) and a 23-per-cent lower cost per click than traditional two-dimensional (2-D) ads.

May 21, 2020: InfernoAR virtual events platform was chosen to supply a $13-billion capital, publicly traded global insurance company, for its global leadership two-day summit starting on June 6.

May 19, 2020: InfernoAR was integrated with Cvent Solutions, optimizing the entire InfernoAR event management value chain. Integration with Cvent will broaden the utility and increase the appeal of the platform by helping end-users seamlessly register and become more productive while using the platform.

May 14, 2020: Q1 revenue grows 177 per cent to $2.5-million, while gross profit grows 267 per cent to $1.3-million, with working capital of $3.5-million.

May 12, 2020: InfernoAR platform is integrated with all major video platforms, including its previously announced integration with Zoom, Microsoft Teams, Skype, and new integrations with Cisco Webex, BlueJeans, Google Hangouts, Google Meet and GoToMeetings. These critical integrations continue to extend the capabilities of the platform, broaden the utility of the platform and help end-users become even more productive while using the 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.

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