NexTech AR Solutions Corp.

Nextech AR Solutions Corp.

File:NexTech Ar Solutions Corp. press kit logo.jpg
Type of site	Public
Traded as	OTCQB: NEXCF
Founded	January 12, 2018 (2018-01-12)
Headquarters	Toronto, Ontario, Canada
Area served	Worldwide
Founder(s)	Evan Gappelberg
President	Paul Duffy
CEO	Evan Gappelberg
Key people	Andrew Chan CPA, CA. (CFO)
Industry	eCommerce
Products	ARitize 3D, ARway, Map D, ARitize CAD, ARitize Holograms, ARitize Configurator, ARitize Swirl, ARitize Labs, ARitize CPG
Services	Augmented Reality, Metaverse, Spatial Mapping, 3D Modelling, Human Holograms
Revenue	C$ 25.93 million (Dec 2021)
Operating income	C$ $34.89 million (2021)
Net income	$32.65 million (2021)
Total assets	$29.5 million (2021)
Total equity	$29.5 million (2021)
Employees	150 (2022)
Subsidiaries	Threedy.ai Inc., ARWAY, Map Dynamics LLC, AR Ecommerce LLC
Website	www.nextechar.com

Nextech AR Solutions Corporation (CSE: NTAR) (OTCQB: NEXCF) (FSE:N29) is a Canadian public company headquartered in Toronto, Ontario. It provides videotelephony, 3D modeling and augmented reality services through a cloud-based peer-to-peer software platform and is used for teleconferencing, remote work, e-commerce, advertising, distance education, and social relations.

Timeline

2018

Evan Gappelberg, Co-founder and CEO of EG Products, set up Nextech AR to supply augmented reality and hologram technology. Paul Duffy, the Chief Architect & UX Officer / Co-Founder of Arht Media Inc. (an augmented reality / holographic technology platform), joined the company.

After initially working to bring its technology into the medical and recreational marijuana market, Nextech AR released its ARitize app, which is its web-enabled augmented reality e-commerce product. It was during this quarter that it also listed on the Frankfurt Stock Exchange.

2019

In early 2019 Nextech AR integrated with the platforms of ParcelPal, Cannvas Kiosk, CGTrader, and the launch of its 3D Advertising Platform for Facebook. This was followed by the launch of it 3D Google Ads Platform, entering into an agreement with Walther Arms, Inc., to use NexTech AR's technology in its entire product line, and the approval and availability of its products on Walmart.com.

In June 2019 the company announced its listing on the TSX Venture Exchange, the day after which, it announced technology that enabled dynamic 3D rendering of complicated objects through its Web AR platform. This included an upgraded glTF ("3rd object") renderer with enhanced lighting options allowing different textures and finishes.

In June 2019, Nextech AR launched its ARitize University platform to provide on-demand workplace training and education.

In late September, Nextech AR announced the launch of a self-service 3D AR publishing platform called ARitize. Towards the end of 2019, Nextech AR integrated with Facebook Messenger and signed a Web-AR deal with E-comm site Weby Corp.

2020

In January 2020 Nextech AR reported that it had achieved record revenue and gross profit for the month of December 2019 and Q4. This was followed by February announcements by Rosen Law Firm, The Schall Law Firm, Glancy Prongay & Murray LLP, Howard G. Smith, Bragar Eagel & Squire, and Pomerantz Law that they were investigating claims against Nextech AR AR Solutions Corp. and encouraged investors with losses to contact their firms. During this time Gappelberg and his wife purchased 35,728 common shares of his company's stock. This was followed by Gappelberg and his wife buying another 100,000 shares of stock in his company and in June 2020, the cessation of press releases from law firms claiming investigations into Nextech AR.

On March 24, Nextech AR announced that it had integrated Zoom into Jolokia’s Inferno platform. Nextech AR had a binding LOI to acquire remote video training, live streaming software company Jolokia.

In April and May Nextech AR reported record revenue, another purchase of 929,855 shares of the company by Gappelberg, and the integration of Microsoft Teams, Skype, Google Hangouts, and Cisco Webex into its Inferno AR Virtual Events platform. New contracts over the next several months included Skybridge World Dubai, Real Asset Media, Dallas Independent School District, National Association of Medicaid, ICSOBA, Ryerson University, Canadian Urban Transit Association, Grundfos, and UNESCO. On September 11, Nextech AR became an approved Microsoft partner. Towards the end of 2020, Nextech AR signed a contract with Restaurants Canada for the country's largest foodservice tradeshow, with the launch of its music industry AR app "AirShow", allowing musicians to perform as human holograms. The company hired Felix Ritscher as its Head of Information Technology and Security, and agreed a strategic partnership between Nextech AR and the Korean convention and exhibition centre COEX in Seoul.

2021

Nextech AR hired former president of Microsoft Online Hareesh Ashi as president of its 3D/AR advertising network. The company also announced that Microsoft Azure cloud services would become a standard offering across its virtual experience platforms and consumer apps. At the end of January, they signed a contract with the Canadian Society of Physician Leaders, the Canadian Surgery Forum, and were selected by the Student Veterans of America’s 2021 National Conference to virtually host their conference. Shortly after, Nextech AR joined the Interactive Advertising Bureau (IAB) AR Board. In early November, Nextech AR announced its patent pending Threedy AI technology for use in the Metaverse. They also announced that it would coincide with the newly available “ARitize Metaverse Studio” as a SaaS platform.

2022

In 2022, Nextech AR started to integrate its Ecommerce AR with Shopify, WordPress, BigCommerce and WooCommerce.

In April 2022, Nextech AR announced they had signed a ARitize 3D modelling and custom decorator deal with US automotive parts and distribution company, The Genuine Parts Company. In May and June, Nextech AR signed annual 3D modelling contracts with Habitt and Surplus Furniture & Mattress Warehouse, Cannabis product store Cheech and Chong’s Takeout, appliance store Kotuiko, Lighting store Lighting Plus, Sports equipment store Salamander Paddle Gear, and others.

See also

Other articles of the topic Technology : Amazon Music
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• List of video telecommunication services and product brands

External links

• • Business data for Nextech AR Solutions Corp.: • OTCMKTS Google Finance
  • Yahoo! Finance
  • US Bloomberg
  • Reuters
  • SEC filings

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