VUZIX CORP CMN STK (OTCBB:VUZI) continues its spectacular move up in recent trading on significant accumulation. VUZI is in the midst of an EPIC move off its $2 base last summer to recent highs over $7.
The Company said on January 28 that its M100 Smart Glasses along with warehouse “vision picking” software developed by Ubimax, a leading wearable computing solutions company has successfully delivered hands-free warehouse solutions for DHL, the world’s largest logistics company.
VUZIX CORP CMN STK (OTCBB:VUZI) is a leading supplier of Video Eyewear and Smart Glasses products in the consumer, commercial and entertainment markets. Over the years the Company has transformed itself focusing on consumer electronics and products suited for the mainstream consumer. By 2011 the Company had released its first augmented reality consumer product, the STAR 1200 featuring a bulky display. This was the early predecessor to the M100 which was released to enterprise consumers in 2013 for $1,000.
VUZI products include personal display and wearable computing devices that offer users a portable high quality viewing experience, provide solutions for mobility, wearable displays and virtual and augmented reality. Vuzix holds 39 patents and 10 additional patents pending and numerous IP licenses in the Video Eyewear field.
The Company has won Consumer Electronics Show (or CES) awards for innovation for the years 2005 to 2014 and several wireless technology innovation awards, among others. Founded in 1997, Vuzix is a public company (VUZI.QB) with offices in Rochester, NY, Oxford, UK and Tokyo, Japan.
Their flagship is the M100 Smart Glasses; the world’s first commercially available “Smart Glasses.” It is an Android-based wearable computer, enhanced with a wearable monocular display and computer, recording features and wireless connectivity capabilities designed for commercial, professional, and prosumer users.
Powerful, small and lightweight, the M100 is well suited for a variety of industrial, medical, retail and prosumer applications. Pre-installed apps can be used to record and playback still pictures and video, track timed events, manage your calendar, link to your phone and more. The M100 is also compatible with thousands of existing Android apps and easy access to developer resources enables the creation of custom apps to suit virtually any need.
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VUZI gained national media attention when their M100 Smart Glasses beat Google Glass to the market. Rumors suggest that a group of Google engineers spent a day at the Consumer Electronics Show hanging around Vuzix’s booth and asking questions. According to those who have tried both Google Glass and VUZI M100 the M100 is the better product. Google glass is not as energy efficient and tends to overheat during heavy use.
In connection with Intel’s $24.8 million investment they purchased 49,626 of Vuzix’ Series A Preferred Stock, which are convertible into 4,962,600 shares of Vuzix’ common stock at an initial conversion price of $5.00 per share, subject to adjustment in the event of stock splits, dividends or other combinations. The shares issuable upon conversion of the Series A Preferred Stock represent approximately 30 percent of Vuzix total outstanding stock.
VUZI has two big releases planned for this year. The first is the second release of the M100 with an improved software package and user interface. The new software package will improve functionality and dovetail with enhanced enterprise capability across industries outside of warehousing. The 2nd is what some are already calling the best augmented reality product to hit the market ever utilizing wearable displays for augmented reality. Instead of having to stare up at a tiny screen, imagine smart glasses which project the image into the space in front of the user by use of holographic optical technology.
Smart glasses are taking off and VUZI is leading the pack that includes the likes of Google, Facebook, Samsung and many others. VUZI has a superior and significantly more advanced technology then the competition as well as a patent portfolio that consists of 39 issued patents and another 10 more pending in the wearable technology field.
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VUZI has close to $2 million in the treasury and boasts small but fast growing revenues; for the quarter ended June, 30, 2014 the Company reported $609,887 in sales compared to $511,861 for the same period last year. VUZI already has a strong and loyal shareholder base that swears this one goes way higher. The Company is regularly featured in mainstream media and investors know that any public speculation on the M100 is enough to drive the stock skyward; VUZI is a stock to watch.
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Disclosure: we hold no position in VUZI either long or short and we have not been compensated for this article.