Nextech3D AI Stock Price, News & Analysis

Nextech AR Solutions Corp. has announced the appointment of Andrew Chan as the new Chief Financial Officer. With over 20 years of experience in finance and accounting, particularly in the technology sector, Chan will lead the company's financial operations and strategic direction. The company also appointed Paul Moon as Vice President of Investor Relations. Additionally, 385,000 stock options were granted to employees and consultants at a price of $2.56 per share, vesting over three years. These leadership changes aim to bolster Nextech's growth strategy in augmented reality solutions.

Nextech AR Solutions Corp. has appointed Andrew Chan as its new Chief Financial Officer. Chan brings over 20 years of experience in finance, accounting, and business analytics, particularly in the technology and financial services sectors. His role aims to strengthen internal relationships and enhance the company's financial operations. Additionally, Paul Moon has been appointed Vice President of Investor Relations. The company granted 385,000 stock options at a price of $2.56 per share, demonstrating a commitment to incentivizing performance.

Nextech AR Solutions (OTCQB: NEXCF) announced that CEO Evan Gappelberg exercised warrants to acquire 262,744 shares, bringing his total ownership to 9,861,510 shares. Gappelberg expressed confidence in the company's growth prospects, emphasizing that the current share price does not reflect its potential. The company has been expanding its customer base with significant orders from organizations like Bell Canada and UNESCO, and sees opportunities for cross-selling its augmented reality solutions across various markets.

Nextech AR Solutions Corp. announces significant changes to its Board of Directors and management team. Chief Financial Officer Kashif Malik resigns, with Eugen Winschel stepping in as interim CFO while a permanent replacement is sought. Paul Duffy, formerly President, is now the Chairman of the Board. The company aims to advance its augmented reality portfolio amidst expectations of reaching C$50 million in revenue this year, particularly benefiting from a stronger second half performance. Other key appointments include Chris Burton as EVP of Global Sales and Chetwyn Rodrigo as SVP of Platform Development.

Nextech AR Solutions Corp. (OTCQB: NEXCF) has launched its Digital Experience Platform, LiveX, designed to enhance customer experiences through Augmented Reality (AR) innovations. Key features include AR livestreaming holograms, real-time analytics, and NFT technology integration. Nextech will host the 'LiveNow' event on June 29, 2021, featuring Gary Vaynerchuk discussing digital transformation. Additionally, 935,000 stock options have been granted to employees at a price of $2.59 per share, reflecting the company's commitment to growth and innovation in the AR space.

Nextech AR Solutions (OTCQB: NEXCF) has signed a binding letter of intent with Threedy.ai Inc. to acquire all outstanding shares, enhancing its capabilities in 3D model creation.

Threedy, based in Silicon Valley, specializes in AI technologies that automate the production of high-quality 3D models from 2D images, currently serving clients like Walmart and Wayfair.

This acquisition aims to address the bottleneck in 3D content generation, supporting Nextech's strategy to capture the growing AR market.

Nextech AR Solutions Corp. reported significant financial growth for Q1 2021, with revenue rising to $7.7 million, over 200% higher than Q1 2020. Gross profit also surged over 280% to $3.3 million, and total bookings increased by more than 4,700% to $2.2 million. The company launched its new platform, Nextech AR LiveX, which is designed for scalable virtual events and integrated with Shopify for e-commerce. Despite these achievements, Nextech reported a net loss of $9.2 million, highlighting ongoing financial challenges.

Nextech AR Solutions (OTCQB: NEXCF) plans to release its Q1 2021 financial results after market close on May 12, 2021. Following this, a conference call will be held at 5:30 p.m. Eastern Time to discuss the results, featuring CEO Evan Gappelberg and CFO Kashif Malik. The company specializes in augmented reality platforms, focusing on e-commerce through its platforms like vacuumcleanermarket.com and infinitepetlife.com. Stakeholders can expect insights into financial performance and future strategies during the call.

Nextech AR Solutions Corp. (OTCQB:NEXCF) reported impressive preliminary financial results for Q1 2021, with estimated revenues reaching $7.5-$7.7 million—surging over 200% from $2.5 million in Q1 2020. Gross profit also soared to an estimated $4.1-$4.3 million, a significant increase from $1.4 million last year. Total bookings for the quarter amounted to $2.2 million. The company highlights strong growth opportunities in augmented reality and virtual experiences, positioning itself strategically for ongoing digital transformation.