NexTech AR Solutions Discusses The Future of AR and Virtual Events with The Stock Day Podcast
Phoenix, Arizona--(Newsfile Corp. - October 6, 2020) - The Stock Day Podcast welcomed NexTech AR Solutions (OTCQB: NEXCF) ("the Company"), one of the leaders in the rapidly growing Augmented Reality market. CEO of the Company, Evan Gappelberg, joined Stock Day host Everett Jolly.
Jolly began the interview by commenting on the Company's numerous announcements over the past few months, and asked about their performance in September. "The month of September was a record breaking month for us. Not only did we exceed all of our prior months, but it really sets the stage in terms of momentum for a blowout Q4," shared Gappelberg. "In September alone, we almost hit $3 million for the month."
Jolly then asked about the Company's recent international deals. "One was with the largest pump manufacturer in the world, Grundfos," explained Gappelberg. "We're winning more deals with bigger and bigger names, these are global, multinational companies, and multi-billion dollar companies even a trillion dollar company- that are choosing our InfernoAR virtually advanced platform over Zoom and every other platform that is out there because it is better," said Gappelberg. "We have the only platform that offers an augmented reality component which gives us a competitive edge in a market that has exploding demand."
Gappelberg then expanded on the benefits of augmented reality. "There's a limit to what our competitors can offer with video alone compared to our InfernoAR platform which offers video + augmented reality," he explained, noting the technology's advanced and interactive capabilities. "Our InfernoAR business is just growing exponentially."
Jolly then asked about the Company's partnership with Microsoft. "We're working with Microsoft on certification for them to resell our virtual events platform, which they're very interested in doing," explained Gappelberg.
The conversation then turned to the Company's acquisition of the music industry AR app, AirShow. "That deal closed, and we picked up a very valuable asset," said Gappelberg, adding that the Company now has a partnership with Axis Reply, rapper Offset and AXR+EXP for the group's first-ever virtual concert series. "In the middle of October, we are doing a special VIP event using that AirShow app. They're going to market it to their 20 million fans on social media," said Gappelberg, noting that the event will include a hologram of one of the band members. "It's really the beginning of a new business for us and for musicians to sell tickets to a virtual holographic concert that will be in the pocket of all of their fans by just downloading the AirShow app."
"What is your three year goal from here?" asked Jolly. Gappelberg shared that the Company generated about $6 million in revenue during 2019, their first full year in business, and is expecting to generate a total of $25 million for 2020 given their current growth rate of 400%. "We think going forward three years that we can continue to grow at that rate," said Gappelberg. "Our goal is to be a billion dollar revenue generating juggernaut in the augmented reality and virtual event space."
Jolly then asked about the Company's plan to uplist to the NASDAQ. "We are in the final stages," said Gappelberg, adding that the NASDAQ has experienced delays due to a surge in recent applications. "The bottom line is that we expect it to happen this month."
To close the interview, Gappelberg expressed his confidence in the Company's potential. "I am the largest shareholder and I have not sold one share, and the stock is up 20x since we went public," said Gappelberg. "I am holding for a reason. This is the beginning of a multi-decade, multi-trillion dollar mega trend with the digital transformation of things and NexTech is part of that."
To hear Everett Jolly's entire interview, follow the link to the podcast here: https://audioboom.com/posts/7698936-nextech-ar-solutions-discusses-the-future-of-ar-and-virtual-events-with-the-stock-day-podcast
About NexTech AR
NexTech is one of the leaders in the rapidly growing Augmented Reality market estimated to grow from USD $10.7B in 2019 and projected to reach USD $72.7B 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:
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. According to Grandview Research the global virtual events market in 2020 is $90B and expected to reach more than $400B by 2027, growing at a 23% CAGR. With NexTech's InfernoAR platform having augmented reality, AI, end-to-end encryption and built in language translation for 64 languages, the company is well positioned to rapidly take market share as the growth accelerates globally.
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.
ARitize™ Hollywood Studios: The studio is in development producing immersive content using 360 video, and augmented reality as the primary display platform.
On behalf of the Board of NexTech AR Solutions Corp.
CEO and Director
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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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