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Nextech AR Solutions Corp
Symbol NTAR
Shares Issued 63,427,300
Close 2020-06-30 C$ 5.05
Recent Sedar Documents

Nextech appoints Amet, grants options

2020-07-02 07:35 ET - News Release

Mr. Evan Gappelberg reports

FORTUNE 500 TECH EXEC JOINS NEXTECH AR TO SPEARHEAD EUROPEAN EXPANSION

Nextech AR Solutions Corp. has hired Arnaud Amet as director of sales for Europe. Mr. Amet, situated in Paris, France, comes from regional and global sales and marketing roles in Microsoft where he worked for over a decade ending in 2015. He also has significant experience with his own start-up in sales and marketing of augmented reality/virtual reality to large brands partnering with Facebook, Huawei and Microsoft. With the hiring of Mr. Amet, Nextech is expanding not just its geographical footprint but also its growing talent base, which is critical to the company's rapid growth plans.

Mr. Amet commented: "I am super excited to embark on my next journey with Nextech AR! Nextech AR has taken an edge in the race with the combination of 3-D production services and more recently programmatic advertising display capabilities. They have figured out how to make AR simple, affordable and scalable. Additionally, if we just look at the 3-D advertising business they bring to the market the next golden egg: brands and ad sales agencies." Mr. Amet continued: "Nextech AR has lifted technical and usability barriers. They are in position to offer and deliver end-to-end campaigns, from a 3-D/AR on-line ad to a product page ARitized interaction. This is a game changer in the industry and a marketer's dream. I'm excited to introduce Nextech to my extensive database of global brands, agencies and partners in France, and throughout Europe. We are just at the beginning of a great story."

Evan Gappelberg, chief executive officer of Nextech, commented: "We are excited to have someone as experienced and connected as Arnaud join our growing team and lead our new European division. I'm confident that Arnaud will hit the ground running building and quickly grow our revenue in 2020 and beyond. The opportunity for our company to take the lead position in Europe is enormous and with Arnaud's deep experience selling to tech titans like Microsoft, Samsung, Asus, Sony, Fujitsu and Toshiba I feel very confident in our future success in landing significant new business from Europe."

The company issued 350,000 stock options at an exercise price of $5.10, which vest over three years.

Recent company highlights in 2020:

  • June 29, 2020: The company signed a contract to supply its InfernoAR video conferencing and virtual events platform to the Dallas Independent School District.
  • 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 announced 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 the National Hockey League, National Basketball Association, Major League Baseball and National Football League.
  • 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 3-D scan technology will add to the revenue-generating power of its 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: 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 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 2-D ads.
  • May 21, 2020: InfernoAR virtual events platform chosen to supply a $13-billion capital, publicly traded global insurance company, for its global leadership two-day summit starting June 6.
  • May 19, 2020: The company announced Inferno AR integration 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 grew 177 per cent to $2.5-million, gross profit grew 267 per cent to $1.3-million and working capital was $3.5-million.
  • May 12, 2020: InfernoAR platform integration 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.

bout 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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