Phoenix, Arizona–(Newsfile Corp. – March 23, 2020) – The Stock Day Podcast welcomed NexTech AR Solutions Corp. (OTCQB: NEXCF) (“the Company”), the first publicly traded “pure-play” AR company. CEO of the Company, Evan Gappelberg, joined Stock Day host Everett Jolly.
“How is COVID-19 effecting your business?” asked Jolly to start the interview. “It’s horrible for the people that have been affected by this. It’s a human tragedy,” said Gappelberg. “NexTech actually is benefiting and is in a great position to ride out the COVID-19 pandemic,” he explained. “We have over $3 million in cash on hand, which means we’re financially strong to weather this and rebound strongly,” said Gappelberg, adding that the Company also has multiple business segments that have benefited from the increasing number of remote workers and online shoppers, including their eCommerce sector. “The month of March, we expect to be a record breaking month of revenue,” shared Gappelberg.
The conversation then turned to the Company’s technology segment, which features augmented reality and virtual reality. “When you talk about shop-from-home or work-from-home, augmented reality allows you to remotely view a product in 3D and AR from home as if it’s in the room with you,” said Gappelberg. “It’s unfortunate what’s happening on a human level, but on a business level NexTech is positioned in the right place at the right time.”
Jolly then commented on the Company’s record revenue increases. “Our trajectory is to be pushing a million dollars per month in revenue in the near future,” shared Gappelberg.
Gappelberg then expanded on the Company’s recent acquisition of a remote virtual events webcasting software company. “It adds more fuel to the fire,” said Gappelberg. “When you think about corporations, governments, and trade shows, and the disruption this virus has caused, think about the ability to have a virtual trade show,” he continued. “We’re acquiring a company that allows you to have a virtual conference,” said Gappelberg, adding that the Company will allow viewers to demo products in 3D. “There’s a lot of upside there.”
Jolly then noted that while many CEOs are selling their shares during the COVID-19 pandemic, the Company has experienced an increase in purchased shares from their team. “I have been a buyer of our stock since the beginning,” said Gappelberg. “When I see value, I step in,” he added. “The opportunity is there. I’m going to continue to be in the market.”
“We’re on the other side where our business is benefiting,” said Gappelberg. “Before the pandemic our business was doing well; with the pandemic our business is doing even better.”
To hear Evan Gappelberg’s entire interview, follow the link to the podcast here:
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™. NexTech has an exclusive license to a portfolio of patents 7,054,831, 7,266,509 and patent-pending applications 15351508, 62457136, 62559487, related to interactive gaming, interactive advertising, and augmented reality (“AR”) technology.
The company is pursuing three 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; expected to launch in Q4 2019, the studio has created a proprietary entertainment venue for which it is producing immersive content using 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.
CEO and Director
For further information, please contact:
Chief Executive Officer
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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