Nextech Ar Solutions Corp (OTCMKTS: NEXCF) is one of the most exciting stories in small caps that has been seeing a spectacular rise back up in recent days after the short attack. Nextech is at the right place at the right time with the right business model as AR sees rapid growth and the Company continues to report record revenues.
NexTech’s CEO Evan Gappelberg stated on the recent short seller attack, “In recent days, our stock has again been attacked by short sellers who are using market manipulation and false rumors to create panic in the market. This group is rehashing the same tactics they used last February. I would like to remind investors that after the February short seller attack, and a sharp sell-off in the stock, our stock has moved on to new all time highs. NexTech’s business is “firing on all cylinders,” and sales velocity is accelerating. Our business, our cash position and our product mix has never been better since going public in 2018.
Nextech Ar Solutions Corp (OTCQB: NEXCF) (CSE: NTAR) (FSE: N29) 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. 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 is bringing augmented reality (AR) to, eCommerce, advertising, education, training, and video conferencing creating an AR ecosystem. With just a few lines of embed code, the Company’s patent-pending technology can integrate into existing Shopify, Magneto and WordPress eCommerce platforms. Using proprietary scanning software to convert 2D objects into 3D shopping experiences Nextech provides small, medium and large business with an end to end solution that increases customer conversions, online training engagement and sales. Nextech’s AR app is available now and downloadable: ARITIZE
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On July 22 NexTech AR Solutions reported preliminary results of its second quarter ended June 30th , 2020. The final and confirmed numbers will be filed to SEDAR by August 31st. Q2 2020 highlights: Revenue grows 133% to $3.5 million. Gross Profit grows 171% to $2.1 million with a 60% margin. InfernoAR virtual events product launches and revenues begin scaling and Applied for up-list to NASDAQ CM. The Companies newly launched InfernoAR business booked approximately $1Min new virtual event deals with large corporations in the past 60 days including: ARCH Insurance, ICSOBA, NAMPI, NAMD, Shaklee, YASM (Church), BDA Sports, SWM International, Aluminium Research Centre, and the Government of Canada. The InfernoAR business is growing rapidly, with a current run rate approaching $12 million+ annually.
Evan Gappelberg, CEO of NexTech, comments, “We are pleased to report that our preliminary second quarter ended June 30th , 2020 results were positive and very strong across our business segments. These results were driven by new customer additions, expansion of product lines and increases in conversions from our e-commerce and the newly acquired, infernoAR business.” He continues, “We are uniquely positioned to see our business benefit from this new ‘stay at home’ paradigm shift with our AR ecommerce,video conferencing and Virtual Events business units. The digital transformation that is taking place globally is creating more business opportunities for video conferencing virtual learning, virtual conferences, or virtual events, and e-commerce than ever before. NexTech’s leadership position in this industry is now attracting more M&A opportunities, as we are being approached by innovative AR/VR technology companies. We have closed on four deals in the last 18 months and are in discussions with several candidates with an eye toward a transformative acquisition, which could further enhance shareholder value.”
That short report can eat it!!… $NTAR 🤣🤣🤣!
Going a lot higher IMO 👍!
NexTech AR Solutions Reports Preliminary 2nd Quarter 2020 Results https://t.co/bgGr9ADSfn
— SpacBobby (@SpacBobby) July 22, 2020
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Currently trading at a $380 million market valuation NexTech is an exciting story in small caps; The Company is well financed and continues to see record sales recently reporting preliminary results of its second quarter ended June 30th , 2020. Revenue grows 133% to $3.5 million. CEO Evan Gappelberg recently increased his position in NEXCF to over 1 million shares and he recently stated of the short attack: “NexTech’s business is “firing on all cylinders,” and sales velocity is accelerating. Our business, our cash position and our product mix has never been better since going public in 2018.” We will be updating on NexTech when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with NexTech.
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Disclosure: we hold no position in NexTech either long or short and we have not been compensated for this article